Talk of The Villages Florida - View Single Post - How can an older home be sold, if one cannot obtain insurance?
Thread: How can an older home be sold, if one cannot obtain insurance?
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Old 08-06-2024, 04:58 PM
Pairadocs Pairadocs is offline
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Quote:
Originally Posted by Rainger99 View Post
What do people who live in homes built before 2010 pay for insurance?

Have you replaced the roof?

Was it difficult to get insurance?
18 year old home and paid $2486.

Replaced roof and premium was raised to $2770.

Relative in S.Springs experienced the same, replaced roof and premium was raised, but if roof was not replaced, they would be dropped, so really it's not a choice.

As for finding a company, most brokers can come up with a choice of 2 or 3, but the rating, what would happen if it was actually used, is anyone's guess. Have personal knowledge of individuals closer to the coast who incurred significant hurricane damage during Charlie years back... they spend nearly everything in their retirement savings on lawyers trying to get their well known insurance company to repair their home. You have to be careful, many companies will "shift" as much damage as possible to the result of "flooding" and claim they have no liability. It's a mine field, or should I say a shark tank ?