Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
 [Register]
Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 11-30-2020, 12:53 PM
 
Location: Florida
124 posts, read 113,721 times
Reputation: 322

Advertisements

Hello,
We are considering purchasing a condo unit in the Bradenton area. We have been homeowners for over 20 years now but have no experience with HOA or living by the water. Wanted to ask how the HOA insurance works. There is 'building insurance' included in HOA but that insurance just covers the outside of the building, right? We will still need a policy for the inside of the building and the contents, correct? Can anyone say how much that is compared to a full house insurance policy? Also, this development is in AE flood zone so is the required insurance handled through the HOA? or do we need a separate policy of our own?
Thanks so much!
Reply With Quote Quick reply to this message

 
Old 11-30-2020, 05:22 PM
 
21,382 posts, read 7,940,989 times
Reputation: 18149
HOA costs vary depending on the development/condo.

They can be low or incredibly high.

What is covered and/or included on that fee ... depends on the HOA.

Anyone quoting numbers at you is just guessing.
Reply With Quote Quick reply to this message
 
Old 11-30-2020, 06:30 PM
 
Location: Florida
4,895 posts, read 14,138,002 times
Reputation: 2329
Quote:
Originally Posted by MidModUSA View Post
Hello,
We are considering purchasing a condo unit in the Bradenton area. We have been homeowners for over 20 years now but have no experience with HOA or living by the water. Wanted to ask how the HOA insurance works. There is 'building insurance' included in HOA but that insurance just covers the outside of the building, right? We will still need a policy for the inside of the building and the contents, correct? Can anyone say how much that is compared to a full house insurance policy? Also, this development is in AE flood zone so is the required insurance handled through the HOA? or do we need a separate policy of our own?
Thanks so much!
Condominium policies are for replacement value of common and limited common elements only as referenced in the Association documents. You are responsible for walls in with respect to the unit you purchase. Flood insurance is an additional policy the Association will carry but again, for common and limited common elements only. Go speak to an insurance agent. Waterfront condominium policies have gone up 15-50% in the Bradenton/Sarasota area.
Reply With Quote Quick reply to this message
 
Old 11-30-2020, 09:18 PM
 
2,407 posts, read 3,188,442 times
Reputation: 4346
If you have a property you are interested in, call a broker with the address and ask for a quote. That would be the best way to determine what you would pay because many factors go into the premium and it's not really possible to give you a number.
Reply With Quote Quick reply to this message
 
Old 12-02-2020, 02:50 PM
 
Location: Florida
124 posts, read 113,721 times
Reputation: 322
Thanks for the replies. I will connect with an insurance agent there. Thought this might be a more generic issue/question but sounds like it's very specific to the complex selected.
Reply With Quote Quick reply to this message
 
Old 12-02-2020, 03:45 PM
 
2,407 posts, read 3,188,442 times
Reputation: 4346
The age of the property and type of roof are big factors. Anything 2003 or newer will be built to the latest hurricane building standards. Houses that are older will be charged higher rates mainly due to wind insurance. A hip roof will be cheaper than a gabled one. It's harder for a hurricane to lift a hip roof off the house.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
Similar Threads
View detailed profiles of:

All times are GMT -6. The time now is 07:15 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top