Home Insurance question?

Question

I was wondering if anyone could give me a rough estimate of how much insurance would be with a major company such as State Farm, Liberty Mutual, ect, on a bayfront or beachfront house in Gulf Shores, AL with an estimated value of $250,000. I'm not looking for an exact figure, but when you type in the figures on Realtor.com it gives you an estimated monthly payment assuming what you put down (%) ect. Does this include insurance? If not, I would def. want Hurricane coverage so if anyone has a rough idea your help would be greatly appreciated!:)

Answer 1

Gee....I wonder if it's my friend's old house......hurricane damaged during Katrina about 1100 meters from the bayfront...water inside was about 6' from the floor....but, that's another story.

You would be best served by contacting a local independent agent in Gulf Shores.  They would be more knowledgeable on the coastal exposures than anyone on a board like this one.   And you want someone THERE...... not in New York City or Texas.... my friend was lucky that he had flood insurance but was a costly lesson to learn that the DETACHED GARAGE was NOT properly scheduled and he had basically no coverage on it - but, his agent was in TEXAS (USAA) and were not familiar with the "lay of the land" in AL!

My sister-in-l;aw bought a house in Houston and I "passed" on writing her homeowner insurance because I am an "inland" agent and I admit that I do NOT know all of the coastal exposures as to what company will and won't write certain coverages!

Good luck and I hope this helps!

Answer 2

you would actually have to contact a local agent, as there are so many factors that go into figuring it.  not sure what you mean by hurricane coverage.  wind will be covered ont eh homeowners policy.  flood IS NOT.  you need to take  out a spereate flood policy to make sure you are covered properly.  call a local independent agent who can quote both polices for you for free!