Insurances
Wind, flood, and hazard coverage on the coast.
Coastal Florida properties require hazard (homeowners) insurance and often separate flood and wind policies. Premiums vary dramatically by construction year, roof type, distance to coast, and wind mitigation features. Insurance cost materially affects ownership affordability — get quotes during due diligence, not after you waive contingencies.
Hazard and wind coverage
Standard HO-3 policies cover fire, theft, and many perils but may exclude wind in high-risk areas. Wind policies through Citizens or private surplus lines can cost tens of thousands annually on older coastal homes. Wind mitigation inspections document shutters, roof deck attachment, and opening protection — credits can reduce premiums significantly.
Flood insurance
FEMA flood zones determine lender requirements. Even homes outside high-risk zones may need flood coverage depending on lender and location. NFIP and private flood policies differ in limits and pricing — elevation certificates help rate waterfront properties accurately.
Condo master vs HO-6
Condo associations carry master policies for building structure; you buy HO-6 unit coverage for interior finishes, contents, and liability gaps. Review what the master policy covers — especially water damage between units — before you close.
Insurance due diligence checklist
- Obtain hazard, wind, and flood quotes during inspection period
- Order wind mitigation inspection if credits are unknown
- Review condo master policy and HO-6 requirements
- Confirm coverage is available — some older roofs are uninsurable
- Budget annual premiums in total monthly ownership cost