Quote:
Originally Posted by quirky3
Make sure you have your homeowners insurance all set because many companies stop writing policies temporarily when a hurricane is approaching. I closed on my Florida house in mid-September 2004 - 2 hurricanes had gone by, and two were on the way. Only Citizens was willing to write insurance for the closing, and I switched to a cheaper company later. Being from the north, I had no idea that would happen!
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Quirky is correct. Be sure that your homeowners insurance will be issued. Most companies suspend issuance of policies when hurricanes are buzzing around Florida. You may have to delay closing.
I always insist with friends I help buy in TV that their offer includes a clause that the closing will be delayed as needed if their obtained policy is "suspended in issuance" at the time of scheduled closing and a back-out clause to cancel the deal if the property sustains significant weather and/or other damage prior to closing.