Need to find Insurance (loan, house, buy)

[Racelady88]

I am closing on a house tomorrow. I have always used Allstate, but they do not write policies in Manatee County. Who do you guys use?

[dlhanson]

We don't live in Florida but we are considering a move to Florida. The Florida Insurance Commissioner shows sample rates for several home prices and ages. For a newer $300K home they show these companies as the least expensive for Manatee County:

Florida Farm Bureau Insurance
Sunshine State Insurance
First Community Insurance
Florida Peninsula Insurance
Castle Key Insurance Company

25 more are then listed

I wonder if you haven't started looking too late. When we insured a home, the insurance company always wanted someone to look at the outside of the house.

[Racelady88]

Can you provide a link to the list?

We are paying cash, so we can go without insurance for a few days if we have to. DH would like to self insure, but I am not good with that.

[dlhanson]

Hopefully the moderators will allow this link to the Florida Insurance Commissioners website:

Compare Homeowner's Insurance Rates (http://www.shopandcomparerates.com/HOCompareSelect.htm - broken link)

Just select one or both the links to the house scenario that most matches yours. And then click on Manatee County and then you can click on the insurance companies listed to get some information including website for each that interests you.

We also pay cash when we buy a home. I would not go without liability insurance though. When we do move in 2011, I plan to get quotes with a 10% deductible and then decide if we will self insure for everything but liability.

[RhysNJ]

As an insurance agent in New Jersey, it's really hard to imagine why you would let this go to the last minute in any state, let alone one with severe insurance difficulties in coastal areas. I hope you were able to find someone willing to drop everything else they were doing and allow you to close. Not a good way to go about protecting your assets at all.

Rhys

[Racelady88]

Originally Posted by RhysNJ

As an insurance agent in New Jersey, it's really hard to imagine why you would let this go to the last minute in any state, let alone one with severe insurance difficulties in coastal areas. I hope you were able to find someone willing to drop everything else they were doing and allow you to close. Not a good way to go about protecting your assets at all.

Rhys

Well, first of all it has been a whopping 6 days since I first laid eyes on this property. I have been looking for insurance since the offer was accepted, thank you so much for asking.

I do not need anyone to drop anything in order to close. If you had read the entire thread you would have seen that I am paying cash for the house, so insurance is not a requirement for closing.

Thank you so very much for the helpful nature of your reply.

[RhysNJ]

Well, the inherent assumption is that you would not want too much time to pass where the house was completely uninsured, unless you are in the enviable position of being able to absorb a large loss. Even with cash purchases, most people don't wish to be in that position, so agents are asked to bind as soon as title passes. Also, if you will be needing Flood coverage, there is a 30 day waiting period if there is no loan involved.

I hope you are able to find something quickly after your closing, and good luck with the purchase. Let us know now you made out.

Rhys

[melannewis]

There are many good agents in SWFL. I would recommend choosing an independent agent as they have access to multiple companies and work to represent your interest and not the company's. If you go to th Florida Association of Insuance Agents website - www.faia.com - they can give you a list of agents in your area.