You would have to get a quote from an insurance agent. There are variables. Flood insurance might be necessary, most complexes have insurance in place already but not all have adequate coverage.... more
1. Shop around. Sounds simple but every homeowner is different and every insurance company is different. Get 3-5 quotes and you will probably save some money.
2. Buy all of your insurance from the same company. Some companies offer multipolicy discounts for having your auto, motorcyle, big boy toys, and umbrella insurance with the same company. Can save you 25% on your home insurance and another 25% off of your auto insurance.
3. Keep your property in good repair. Claims will cause your insurance rates to go up. We buy insurance for the unexpected but with a little prevention, the unexpected becomes a little less likely.
4. Make sure you have a deadbolt on the entry doors, smoke detectors, fire extinguisher, and a carbon monoxide dector. They are good for your family and will give you a discount on your insurance.
5. A central alarm that monitors for fire and breakins can also help keep your family safe and give you up to 10% off of your insurance.
6. Each company has different discounts. Some companies will offer you a discount for your occupation or if you are a member of an association like AAA or AARP. Teachers, police officers, fire fighters, etc. are preferred risks for some carriers and can give you a 15% discount.
With all of that being said, shopping around is going to give you the best chance of lowering your rate. Our website will let you quote about 20 insurance companies and get a rate right on our website 24 hours a day. You can make changes to the quote and see how it would effect your insurance premiums. Good Luck!... more
DId you check several insurance agents in the area and compare?
They vary so much. You want to make sure you have enough to cover "replacement value" not just "market value" If the house is worth $200K but it would actually cost $300K if it completely burned then the $300 is the "replacement" value.
It also varied on how much "Stuff" you have. Clothes, jewerly, furniture, books, kitchen items, ect. The more you have and the higher the value.... the higher you should have your content policy.
And then there is the liability. This covers if someone comes to your house and gets injured and tries to sue,
Don't forget your credit and your house's credit. The insurance company will run a report to see if YOU have made any claims and if the previous home owner's have made any claims. This could negatively impact your rate along with what your over all credit is.
All those and then which deductable.
So to give a blanket answer on rates... there are too many variables with the little information you have given.
For any necessary legal advice consult with an attorney; generally if the negligence against a tenant cannot be proven, then it's assumable the homeowner will repair damages; see link for possible helpful information....... more
Are you looking for a home in Ft Lauderdale? As a first time home buyer you will want to locate a Realtor that can help you through the buying process. Buying a home is a little more complicated then you think. My first recommendation would be to speak to a lender about getting a mortgage and get pre approved. You won't be applying for the mortgage at this time just finding out how much you can afford for a monthly payment. Don't forget you have to add in taxes and insurance fees that have to be paid each month. Once you have completed the pre approval you will want to work with a Buyers Agent to help you through the process to closing. With that pre approval letter you will know what price range to look in and also be ready to write an offer when you find something, The pre approval document is required to be submitted with an offer. if you need additional assistance feel free to contact me. I am licensed in both Florida and Michigan
You may need to find a new insurance company. Typically by recording a quitcloam deed a home that has a mortgage, the bank that holds the mortgage can "accelerate" the amount due and begin foreclsoure even though it is being pad because the the person whose name the mortgage is in, needs to be teh one on the deed, You may need to see an attorrney to see the proper way to add your name while keeping him on the deed as liong as there is a morttage in his name. Only a lawyer may be able to fix this.... more
Here in NJ, one place to start is with the Management Company. Some Management Companies have a website where you can download the documents you need (often for a charge). If they don't have a website, give them a call -- you may need to request a paper version of the document (again, a fee may apply).... more