Insurance Agents!!! Please look!!!?

Question

I am trying to buy a house that is about 6 miles from the Gulf of Mexico, not in a flood zone. Quotes locally are outrageous. Would it make a difference if I called a company based in a rural area of the same state (AL) that doesn't typically get many policies of this dollar amount? Would they be willing to take a chance and give me a reasonable quote or do they all give quotes on the same maps and criteria.

Answer 1

It's not the AGENT who's making you have high rates, it's the PROPERTY LOCATION.  So, a Travelers agent right down the street from the house, will give you the SAME QUOTE as a Travelers agent, on the other side of the state.

Your PROBLEM is, within 10 miles of the coast, the WIND coverage is going to be extremely expensive.  That's just part of owning a coastal property.

To cut the premium, increase the deductible.  A $5,000 or $10,000 deductible, along with a 5% wind deductible, is going to make a big difference in the cost of your insurance.

Answer 2

Chances are a rural agent will represent companies that write in the local rural area, and they wouldn't bother with companies that write on the coast.  You're probably best going with an agent located on or near the cost since they will be most familiar with coastal properties.  I know that 6 miles inland sounds like a lot, but when you plot it on a map and look at how far inland strong rains and winds from tropical storms and hurricanes can go, you're looking at sustaining at least some damage from a storm within the next 5 to 10 years.  The insurance companies realize this and set their rates accordingly.  Try higher deductibles to offset the cost.