Insurance Question

Discussion in 'Real Estate' started by Tripinbrums, Apr 18, 2010.

  1. Tripinbrums

    Tripinbrums Beach Comber

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    We are starting to look at condos in Seagrove. Can anyone tell me what insurance is like when you own in FL. The condo will probably be around 100-200 thousand. Thanks!
     
  2. beachFool

    beachFool Beach Fanatic

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    Focusing solely on the premiums without looking at the limits is big mistake.

    For the record I don't accept commissions or third party payments of any type.
     
    Last edited by a moderator: Apr 18, 2010
  3. GoodWitch58

    GoodWitch58 Beach Fanatic

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    there are many variables to consider. best approach IMO is to get a reputable real estate agent; find a unit you like and then get quotes from insurance companies.

    some things that factor in are location (how close to water); age, whether the condo bldg has insurance--it should--whether the bldg has the latest hurricane codes....etc. etc.

    Good luck. You will love it here.
     
  4. scubamal86

    scubamal86 Beach Comber

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    Any suggestions for renter's insurance?
     
  5. Camp Creek Kid

    Camp Creek Kid Christini Zambini

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    If you buy a condo then you will pay your share of insurance through your condo association that covers the building, liability, and commons areas. The only insurance you will have to buy is to insure within the walls of your individual unit, and this is relatively cheap. Renters insurance is something that a long-term renter would buy to insure their personal belongings.
     
  6. cooper

    cooper Beach Lover

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    We currently have a high deductible, high total plan through Royal Palm. Not sure if a good deal as we are unlikely to suffer total loss from a hurricane, and I'm concerned that even if we do, they would "adjust" the rebuild cost down from the limits. Starting to consider a low deductible, lower total limit plan through a USAA subsidiary. The monthly premium is not very different. Sorry not to "answer" original question, but might be helpful in considering exactly what you might be trying to achieve with insurance.
     
  7. grant blackwell

    grant blackwell Beach Comber

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    insurance

    Condo insurance is relatively inexpensive. You will be insuring the inside of your unit and your contents. The association willl be insuring the exterior of the building and the interior walls. You are responsible for the paint in. The average cost of a modest unit is about $500-800 per year. Call Marcia Rogers, she is a very good agent 231-0042


     

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