In South Florida, homeowners insurance isn't something to figure out the week before closing. It can affect your monthly budget, your financing and even whether a home is the right fit. Here's what I walk my buyers through before and during the inspection period.
Start Early
I recommend getting an insurance quote as soon as you're serious about a home, and certainly within your inspection period. Lenders require coverage before closing, and a surprise premium can change the math on a purchase.
What Drives Your Premium
Roof age and type: Insurers look closely at how old the roof is and what it's made of. An older roof can limit your options or raise your cost.
Wind mitigation features: Impact windows and doors, hurricane shutters, roof-to-wall connections and roof shape can all earn credits. A wind mitigation inspection documents these features.
Age of major systems: On older homes, insurers often require a 4-point inspection covering the roof, electrical, plumbing and HVAC.
Location and elevation: Distance from the coast and flood zone matter.
Claims history: Prior claims on the property can affect availability and pricing.
Don't Forget Flood
Standard homeowners policies don't cover flood. If a home is in a high-risk flood zone and you have a mortgage, your lender will likely require flood insurance. Even outside those zones, many owners choose to carry it. Ask for the home's flood zone and, if available, an elevation certificate.
Condos Are Different
If you're buying a condo, the association insures the building and you insure the interior of your unit and your belongings. Ask what the master policy covers, review the association's budget and confirm whether any special assessments are planned for insurance or repairs.
Questions to Ask the Seller
How old is the roof, and are permits available?
Is there a recent wind mitigation report?
What does the current owner pay for insurance, and with which carrier?
Has the home had any insurance claims?
Make It Part of Your Plan
Insurance is one of the biggest variables in South Florida ownership costs, and it's part of how I help buyers compare homes. Work with a licensed insurance agent for quotes, and call or text me at 561-888-3115 when you're ready to start looking. I'll help you ask the right questions on every home.
This post is general information, not insurance advice. Coverage and pricing vary by carrier and property.
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