Just recently purchased first rental property in Winter Haven, FL (suburbs of Orlando, FL). Trying to get insurance for property and liability but quotes I got were very expensive (more than $1200) and without much explanation what is what.
Does anybody know or can recommend a good insurance agency/broker for that area?
Property is SFR.
congrats on ur cash(?) purchase! i'd try netquote
thanks for info. Definitely will try it out. It was a cash purchase, i actually got a property through an auction. Fixed it up and rented it out. Now thinking about protection of property and liability.
I would recommend Brown and Brown of Florida. They write my commercial insurance for a construction company that I own so I trust them. I have found that the rates in FL do not differ much from broker to broker, just the level of service. I have used several different agencies and have had several issues over the years. These folks will treat you well and give you competitive pricing.
With that said, see information below and feel free to use me as a reference.
Private Client Group
Personal Insurance Advisor
Brown & Brown of Florida, Inc.
2600 Lake Lucien Drive Suite 330
Maitland, FL 32751
Direct Line (321) 214-2321
Office (407) 660-8282
Fax (407) 660-2012
Email: [email protected]
Office Website: http://www.bborlando.com
Company Website: http://www.bbinsurance.com
thanks for info. Just sent an email to Adriana.
@Sergey Perevalov It is already rented and you are now getting insurance?
I also have a rental (short term) in the Clermont area. We are insured through Ark Royal/ASI and the broker is Florida Chartered Insurance at 407-359-1009. We have had great relations with them for the past 4 years. Also, we had to do a claim and the process went well.
For our 4/3 SFH with pool, we pay $1006, $327 of that is Hurricane Premium. I am sure that the price will depend greatly on other factors including condition of the roof and whether you are adding coverage for furnishings, etc. I know that there is some type of appraisal / inspection that you can pay for, but if it is done, it will save you lot on insurance costs.
We also have this property listed under our umbrella policy through a different company for additional protection.
yes, the process looks awkward but it's rented and now i am looking for insurance. I should have insured property long time ago. I will try your referral.
The quote i got had a windstorm protection, don't know if it's the same as hurricane... No flood protection etc. It seems to be very basic and the asking price is pretty high.
Thank you for info.
@Sergey Perevalov ... one more note. Make sure you get a "Wind Mitigation Report" done. This can save you a few percent off the cost in Florida. Ask if the broker has a "coupon" or a discount for the cost of the report.
Thanks for advice, Curtis. I appreciate that.
@Sergey Perevalov I don't have insurance on one of my rentals due to the price. Insurance will vary due to year of construction and construction type (wood frame vs concrete block). As an example, I have a nice 3-2-2 worth in the 150K range that costs around $700 per year. It was built in 2006 and is CBS. My uninsured house (I do carry liability) is wood frame, built in the 80's and worth about 85K. I declined insurance due to quotes in the $1700 range.
That's the thing! the house is 1923 and there was a lapse in insurance etc... that's why it's pretty pricey. BUt it concverns me not to have an insurance fromthe other hand.