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Old 04-06-2010, 06:08 PM
 
Location: Utopia
1,999 posts, read 9,423,152 times
Reputation: 1479

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Not sure where I will be on the COAST or which side (checking St. Augustine, Melbourne, Sarasota, etc.), but can someone give me just a general ballpark idea of the cost of condo insurance on a 2 bedroom condo with garage I will be BUYING (not renting)? I figure I will be getting a 1,000-1,400 condo somewhere on the coast of Florida. I figure I can get a decent condo for around $120,000...something simple and suitable.

Articles like this are really scary:

http://ezinearticles.com/?Finding-Florida-Condo-Insurance&id=3720700 (broken link)

CAN you get homeowner's insurance for a condo now? Or is the rate outrageous anymore?
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Old 04-07-2010, 07:46 AM
 
3,552 posts, read 6,175,716 times
Reputation: 3100
Quote:
Originally Posted by TootsieWootsie View Post
Not sure where I will be on the COAST or which side (checking St. Augustine, Melbourne, Sarasota, etc.), but can someone give me just a general ballpark idea of the cost of condo insurance on a 2 bedroom condo with garage I will be BUYING (not renting)? I figure I will be getting a 1,000-1,400 condo somewhere on the coast of Florida. I figure I can get a decent condo for around $120,000...something simple and suitable.

Articles like this are really scary:

Finding Florida Condo Insurance (http://ezinearticles.com/?Finding-Florida-Condo-Insurance&id=3720700 - broken link)

CAN you get homeowner's insurance for a condo now? Or is the rate outrageous anymore?
It will depend on where the condo is located, your credit rating, what the condo board insures on the building(what they consider common), how much liability, how much contents, living expense if unliveable, etc. Only way you will know is contact insurance agent when buying it. If there is a storm in the ocean....no insurance can be bought btw.

Just remember: if a lot of the condos are not bought/in foreclosure, dues are low, etc. it might mean if there is a hurricane the condo will not be repaired or rebuilt. After 2004 many large condo areas were just abandoned for years and then finally torn down in my area.
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Old 04-07-2010, 07:22 PM
 
Location: Utopia
1,999 posts, read 9,423,152 times
Reputation: 1479
OMG...this is the stuff that we northerners have no idea about. Thanks so much for that information.
Maybe this is why so many folks are leaving Florida? Wow...I'm blown away...
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