I get asked many times from new comers to Florida about our our home owner and flood insurance rates. As many of our residents are aware, we have significantly higher premiums in the state because of our notorious hurricane season and outlook for tropical weather. Being surround by water has it advantages and costs.
Two things to keep in mind when buy a house, generally there are requirements and discounts related to your flood elevation and the ability of a home to withstand wind damage. As a result, when doing home inspection it is important to ask your insurance agent and inspector about a Wind Mitigation Survey.
With recent changes to wind mitigation inspections, I found this article useful on the Smith Blog: http://www.smithandassociates.com/blog/2012/01/wind-mitigation-changes-are-you-in-the-know/
Additionally depending on your homes proximity to the flood plain, your insurance company may require an Elevation Certificate to get coverage. This can be obtained from a previous owner or from your title agent. (or as part of the Survey).
We are happy to help you navigate our insurance challenges here in the sunshine state, just let us know how we can help.
Steve Armstrong, Realtor Certifying Agent, Florida Green Builders Coalition Smith & Associates Real Estate http://www.BayToBeaches.com
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