Last Updated: 20 January, 2022
With a nice beach house that faces towards the ocean, there are as many risks as the beautiful scenarios. You have spent a huge amount of money to get that perfect dream house of yours. Now, you want to insure it with affordable insurance premiums that offer you the best coverage.
Why is Coastal Home Insurance in Florida so expensive?
Many coastal insurance companies only work with homes worth a lot of money. Most homes near a Florida beach are worth a lot because they are in beautiful areas with nice weather. Because it is more expensive to repair or replace these high-end, often custom-built homes, the risk is much higher than it is for a more modest and low-cost home.
Coastal areas in Florida fall in extremely risky areas where there are often chances of high wind damage. Hence, the insurance policies such as coastal home insurance in Florida are specifically designed considering those risks.
Why should you need Coastal Homeowners Insurance?
Living near the ocean poses as many risks to your home as it does beauty. Minor damage caused by a high wind from an ocean current necessitates hundreds of dollars out of your pocket to repair, unless you have insurance, right? While the coastal area is the focus, people living in areas a few miles away from the ocean are also at risk of flooding and hurricanes. Therefore, if you live in those areas, this blog is a sign that you should get one soon.
Even if a hurricane hits South Florida, the effects of the storm could be felt for a long distance. If you own a business, a hotel, or a vacation home in Florida, it’s time to protect yourself from financial loss by purchasing insurance right away.
What does Standard Coastal Home Insurance in Florida covers?
If you already have or planning to have home around coastal areas in Florida, here are few coverages that you should need to be protected from costs that might be needed to mend the house.
- Hazard Insurance: Since, natural hazards like hurricanes, tornado, and high-speed wind can damage your house in a way or two, Hazard Insurance Coverage provides protection against the financial damage occurred from these hazards.
- Flood Insurance: Homes on the coast, such as those in Naples and Fort Lauderdale, can become flooded as a result of heavy rains caused by tropical storms and hurricanes. You may also experience flooding as a result of storm surge. Although this coverage is costly, it is necessary.
- House Contents: A well-protected house has its contents protected as well. Talk to your agent about coverages of the contents of the house like flooring, equipment, cabinet, and furniture. The costly your contents are, the more expensive your premiums will be.
- Outbuildings: If you have any attached buildings to your house, make sure you get insurance for those as well. They tend to get damaged a lot faster and easier than the main building.
Find Affordable Coastal Home Insurance in Florida
Getting the right coverage at a reasonable price is a tough battle in Florida. Located at the risk zone and a voyage for many vacations, everything spiked up followed by the price of insurance policies as well.
Come to best home insurance companies if you want to make sure you have the right coverage. Our agents are independent, which means they do not work for a single insurance company. Your independent agent works for you and assists you in locating the best coverage for your home.
Coastal homes have unique insurance requirements, and your independent agent is an insurance specialist who is well-versed in all of the risks you face. We can find you an affordable policy because we work with several insurance companies.
If your coastal home insurance is inadequate, you and your family may be at risk, and you may not realize it until it is too late. Fill out the form and one of our agents will guide to getting the best coastal home insurance in Florida.
Frequently Asked Questions
What does Coastal mean for home owners' insurance?
“Coastal” homeowners’ insurance is similar to standard homeowners’ insurance, but with a few key differences. Coastal homes are seen as a higher risk by insurance companies. When they see a coastal home, they will begin to remove some of the benefits of standard homeowners’ insurance, such as wind and storm coverage.
What is considered Coastal for insurance?
Coastal homes are located near a navigable body of water, such as a river, ocean, or lake. It could be a secondary or vacation home that is unoccupied for a portion of the year.
How much does it cost for Hurricane insurance in Florida?
According to NerdWallet’s rate analysis, the average cost of NFIP flood insurance in Florida is $599, while homeowners’ insurance costs $2,155 per year. You may also need to purchase separate windstorm insurance depending on where you live.
What is the average cost of homeowners insurance in Florida?
In Florida, the average cost of homeowners insurance is $1,353 per year for a home with $250,000 in dwelling coverage.