are you in a flood plain? if not there are many good co's. universal is a good and big co and i got a quote last year and they were much cheaper than citizens. it all depends on the risk. if your home is over 750k it gets tricky. if your home was built before 2003 its much more expensive
Homeowner's Insurance
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For us the Universal Property & Casualty quote was higher for less coverage than Citizens. We are not in flood plain, not built before 2003, not over 750, but we are within half mile of Gulf.
I am just curious if anyone has any knowledge of Southern Oaks Co. - Our rate will stay the same with them (though they may stick it to us next year if we go with them)
I am just curious if anyone has any knowledge of Southern Oaks Co. - Our rate will stay the same with them (though they may stick it to us next year if we go with them)
My understanding is that Citizens is trying to push many people away from Citizens, but there are rules by which they must play, that they are not sharing with you. I'm not in the insurance business, but I know that they are not telling you all you should know. Citizens will insure you if no one else will. There are other factors where they will provide coverage, but I cannot recall the details. Do some research. Google is your friend.
Anyone have any experience with (or info about) Universal Property and Casualty Insurance Company other than what was said below?
On this topic... would you guys recommend buying flood insurance if you're in zone "X"? We've never purchased by the coast before and I'm not sure if it's necessary. I've gone on the Geo site and under no "foreseeable" circumstances does it show the property which we are considering to be flooded. The home is on pilings. What do you guys recommend?.. or what have those who own homes in the area decided to do?
Thoughts to ponder:
(1) Under no "foreseeable" circumstances does Geo site show the property we are considering to be flooded
(2) Home is on pilings
(3) Was the home built on pilings because it affords a better view?
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Flood zone "X" does not mean that area will never flood. It means it has a low probability of flooding and is the best flood zone to be in.
FEMA considers X to be "moderate to low risk" for floods.
I consider the odds that your insurance company will consider hurricane water damage to be "flooding" and refuse to pay for it to be "high". If it's a nominal cost, I say get flood insurance.
I find it odd that the home is elevated on pilings if it is really in Zone X. How high is the first floor off the ground?
Just because a realtor, appraiser, or an insurance company says your house is in Zone X does not mean it is - even if they say so in writing. Unless you have a FEMA map (and know how to read it properly) or a survey by a licensed surveyor specifically stating it is in Zone X, assume it isn't.
I can't emphasize that enough - it seems like an easy enough thing, but it can be a real cluster of misread maps, false info, honest mistakes, or outright lies.
FEMA considers X to be "moderate to low risk" for floods.
I consider the odds that your insurance company will consider hurricane water damage to be "flooding" and refuse to pay for it to be "high". If it's a nominal cost, I say get flood insurance.
I find it odd that the home is elevated on pilings if it is really in Zone X.
How high is the first floor off the ground?Just because a realtor, appraiser, or an insurance company says your house is in Zone X does not mean it is - even if they say so in writing. Unless you have a FEMA map (and know how to read it properly) or a survey by a licensed surveyor specifically stating it is in Zone X, assume it isn't.
I can't emphasize that enough - it seems like an easy enough thing, but it can be a real cluster of misread maps, false info, honest mistakes, or outright lies.
We go without. But we're 40-45 feet above mean sea level, and the soil in our yard is very sandy and drains well when we get one of those stalled fronts that dumps 20 inches of rain in the area in 36 hours, so we feel pretty confident flooding isn't an issue in our neighborhood north of the Bay.
If it's a house on pilings, I'd probably take it as a sign that flooding is possible and buy insurance accordingly.
If it's a house on pilings, I'd probably take it as a sign that flooding is possible and buy insurance accordingly.
I agree. Our home is not in a flood zone. We purchased flood insurance after hearing that insurance companies denied many Katrina claims because they said the damage to homes were due to a flood, not the hurricane.
I'm not sure why rental units get charged more. Insurance doesn't pay for the paint dings, broken appliances. abused pool equipment, missing pillow shams, and all of the other annoying things that renters do.