Home insurance on beach? (Melbourne, Satellite Beach: 2014, credit rating, townhome)

[essdeebee]

I have heard/read many references to the "high" home insurance on the beach. Can anyone give me an idea of just what that is? I know there are variables, but I need a general idea to know if it is a little high or budget-busting -- knowing whether or not we could live at the beach would really factor highly in whether we move. Maybe a deal-breaker We'd likely be looking at Melbourne Beach, Indiatlantic, Sattellite Beach, that general area, within a few blocks (walking distance) to the beach. Let's say around 2,000 sqft, around $300,000, just to have some figures to go from. Does it make a difference if the home is smack on the beach or a few blocks removed? We're still in the very early stages of considering moving the family there, so not working with any realtor yet, so any info or guidance would be appreciated!
Thanks!

[essdeebee]

...also should have mentioned ... a pool would be desired as well -- does that also make a big difference?

[Rabflmom]

Originally Posted by essdeebee

I have heard/read many references to the "high" home insurance on the beach. Can anyone give me an idea of just what that is? I know there are variables, but I need a general idea to know if it is a little high or budget-busting -- knowing whether or not we could live at the beach would really factor highly in whether we move. Maybe a deal-breaker We'd likely be looking at Melbourne Beach, Indiatlantic, Sattellite Beach, that general area, within a few blocks (walking distance) to the beach. Let's say around 2,000 sqft, around $300,000, just to have some figures to go from. Does it make a difference if the home is smack on the beach or a few blocks removed? We're still in the very early stages of considering moving the family there, so not working with any realtor yet, so any info or guidance would be appreciated!
Thanks!

There are so many depends....that it is hard to give an idea of what it will cost. You will pay a little more for a pool. It will depend on size,location, amounts of coverage you buy,your credit rating, etc..

On the mainland ours is sort of high for a 1985 1500 sq. ft house. It has gone up every year since 2010 and coverage has gone down a little. It went up $400 last year so is in the $1900-$2000 range now. It has the tear down and rebuild coverage and a pretty high contents and liability coverage. We are looking for cheaper insurance. The worst thing about Florida insurance is you just pray that if something happens they will be solvent enough to pay for repairs since most companies are newer and not the main ones from up North like Nationwide, State Farm etc since they won't write policies in Florida.

[1insider]

3500+ square foot direct ocean house in Satellite Beach, no pool - $2000/yr. homeowners w/o windstorm, $3700 windstorm to Citizens and $500 flood, total 2014 annual premiums $6292

[scottschuetz]

In most cases beachside, the actual home can be as big a factor as the location. There are significant discounts for updated, roof, windows, structure... I have a 2500 sq ft duplex across from the beach, built in 2001. That policy is $2500. Another of my properties is a 1800 sq ft townhome within 1500 ft of the ocean. It was built in 1987. I don't get the same roof credits and that policy is $2800.
Here is a link to the citizens page that will give you more information about the wind mitigation credits
https://www.citizensfla.com/policyho...ationForms.cfm

[blueherons]

Also, FEMA will no longer subsidize flood insurance if it isn't your primary residence or if the home has had two or more claims against it.

[chopchop0]

Originally Posted by 1insider

3500+ square foot direct ocean house in Satellite Beach, no pool - $2000/yr. homeowners w/o windstorm, $3700 windstorm to Citizens and $500 flood, total 2014 annual premiums $6292

Not bad for direct Ocean IMO