Higher insurance rates for Coastal properties

2 Replies

With the recent hurricanes in Florida, is it still a good investment for coastal properties in regards to insuring the properties?  By the water is always more desirable but wanted to avoid losing my profits to potentially higher premiums.  Any feedback would be greatly appreciated.

If you have newer properties built since 2004 your insurance may not be a lot more expensive. Older properties, and also those in flood plains, will cost more. I don't pay a lot of money but carry high deductibles. Irma hit me for about 25K out of pocket. One thing I notice about my insurer is it seems they want to cover less and less such as screen enclosures. I am sure I can pay more money to cover those if desired.


There are two parts to the Insurance Issues facing coastal properties, Flood & Wind. Flood risks are mapped out by FEMA and Flood Insurance is provided by the Gov't (National Flood Ins.) and recently by private Insurance companies. The Wind risk is part of the Property Insurance (homeowners, Dwelling/Fire, commercial package, etc.) . Florida also has a Windstorm Pool that provides coverage for Wind in certain areas. You should contact a FL independent agent to get further advise on the trends in the cost of the Insurance.

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