Insurance in Florida

9 Replies

Hey BP community,

I have a home under contract in Daytona Beach, FL. It's old, has an old roof, and close to the ocean. Apparently a trifecta to ensure I pay as much for an insurance premium as possible.

Does anyone know a good insurance company that insures higher risk homes for a good price?

@Kyle Keller Yes It is called self insure, good news zero premium, bad news zero coverage. If it is still standing then it is likely built well. Replace the roof and get decent coverage assuming other area have been updated (electric, plumbing etc.)

Hello @Kyle Keller

Checking to see if you had much luck on this. I do understand your given scenario as I have been in contract with 2 properties in Daytona beach, FL in which I ended up pulling out after inspections but insurance was an added factor as well. Many companies I found do not want to cover a lot of homes because of the items you stated but with that the hurricanes and also in florida many roofing companies have done the "I will replace your roof for free, just let me deal with the insurance company". I spoke to many insurance companies and they have told me that has been a huge reason some areas of Daytona beach is no longer covered. Got quotes that came up to as high as 8k one time and found many companies that would cover the home but would exclude Wind and other items which is not good in the state of Florida where hurricanes occur.  

@Kyle Keller I was not able see who "Kin" is. Not sure if BP is removing the info. Do you mind sending me this to my inbox as I would really appreciate this. I keep my eyes open in the Daytona Beach area still and this info would be helpful in the future.