What kind of insurance do you recommend for two houses and lots near the central coast of Florida?
I just bought property there and wonders whether tsunamis or tropical storms have been regularly covered by the policy and if there is any other thing that had to be aware of the owner of a new house in the area. Also I hear the alligators are very tasty. Thanks!
Tsunamis? … It is a conversation Nuthe all … .. but to answer your question, no, its standard policy does not cover all damage types. Have you closed on these properties? Depending on the location, the bank can require you to also buy "wind" and "flood" protection. If you have closed your bank has already said that the guarantees are necessary to finance the property. The wind is sometimes necessary in areas of high wind risk areas generally east of I-95 in the central and southern Florida. Flooding is necessary if your property is considered a flood zone (areas of high flood risk) which is usually an area that has been known by the floods in the last 50 (?) years. You can buy your own insurance (by law) should not automatically with the assurance that your mortgage company recommended. Please note that insurance is becoming increasingly difficult to find. Good luck.
Luxury Orlando Real Estate Central Florida