Why Can’t you tell me what my Home Insurance will be on Pinellas County Waterfront Homes
Clearwater Beach FL - As your Pinellas County waterfront homes and luxury beach specialist I’m here today answering another question about home insurance when buying Pinellas County waterfront homes.
Question – How come you can’t tell me what my home insurance will be when I’m buying a waterfront home in Tampa Bay?
Answer – Because what happens is that they need you to have the elevation certificate done then depending on what the home’s elevation is (how far above sea level) in conjunction with some other factors as far as if it’s been updated (hint: newer roof or windows definitely helps) along with any wind mitigation discounts then you can get an accurate quote.
Because home insurance here is regulated by FEMA’s insurance rules regulations the insurance company cannot even give us a ballpark quote until they seen the elevation certificate. That’s one of the main reasons that we actually work with our clients to get their surveying elevation certificate done early in the home buying processa. In addtion we can protect you from the unknown with an insurance addendum. I’d be happy to explain more about how this works – however be aware – if you don’t have this kind of protection and the insurance comes in much higher than you’re prepared to pay – you’re stuck. Just one more reason why working with Pinellas County Waterfront & Luxury specialist like us protects your best interests. I’m happy to tell you more about that but that’s the reason why when you’re looking when from property you really won’t know what your insurances until you do the survey and get the elevation certificate.
What other questions do you have about buying or selling waterfront homes and condos in Pinellas County?? Ask below and we’ll add it to our series of questions and answers – also let us know if this information is helpful for you please.
P.S. If you are thinking of buying or selling a waterfront homes in the Tampa Bay area and value hard work, knowledge and results then please give Jack and I a call at 727-710-8036 to see how we can best help you. We’re committed to delivering Results daily based on Integrity, Knowledge and Experience – helping you buy or sell your luxury or waterfront home in Pinellas County
We’d like to be YOUR Pinellas County Waterfront & Luxury Real Estate team! Call us today…
Cyndee and Jack Haydon, Realtors
Charles Rutenberg Realty
1545 S. Belcher Rd
Clearwater Florida 33764
727-710-8035 (Cyndee’s cell)
727-710-8036 (Jack’s cell)
Check out our other Tampa Bay Waterfront and Beach Client testimonials here > http://www.sandbarstosunsets.com/clients/
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Clearwater Florida Home Insurance | What’s the solution?
We have a lot of debate here in Clearwater, Florida regarding the cost and availability of property insurance for our waterfront homes and condos.
This is a conversation that is taking place all over Clearwater / St Petersburg / Tampa Bay Florida…
Skyrocketing cost of Clearwater Waterfront Home Insurance
Those of us that are Clearwater home owners and waterfront condo owners have seen the amount we pay for taxes and insurance skyrocket. I remember my surprise a few years ago when I realized the amount we paid for our home’s property taxes and insurance was now larger than our home mortgage principal and interest payment each month.
A few years back, voters in Florida passed Save our Homes – a measure that caps our home’s property taxes for your primary residence – the goal was to prevent long time residents and those retired on fixed income to be forced out of their homes due to rising property taxes. Well ironically – who would have guessed that it would be the property insurance on our Clearwater homes that would cause many to have to do that.
Like many local real estate agents, we’ve received those distressing calls from a friend or neighbor on a fixed income asking us about the real estate market and about coming to sell their home because they are in the hole each month with no way to keep up.
We all keep searching for answers – The National Hurricane Conference which met earlier this year in New Orleans. When they met they discussed this issue at length. One of the concerns voiced by one of the chief economists, Robert Hartwig, was the growing exposure insurance companies have in Florida (reaching $7 Trillion)- just look at all the new construction on our beaches, especially places like Clearwater Beach.
Did you know that insurance companies lost $10 Billion because of Hurricane Andrew in 1992 and lost another $10 Billion in Florida in 2004 and $4 Billion in 2005.
When Jack & I were newly married we lost everything in a fire in our home so we truly appreciate the value of insurance – but I also appreciate the value of the company being there to quickly and fairly settle your claim.
I hope we see some innovative solutions to our current system because I’m concerned about the effect the status quo will have on all of us – especially on our real estate market.
What do you think we should do about property insurance for our homes in our coastal communities like Clearwater, FL?
Maybe this would be a great question for our Home Insurance expert, Kim Marshall.
Clearwater Beach Real Estate
Are you looking to buy a Clearwater Florida Home or Clearwater Condo? Here’s what some of our past clients have to say about how we helped them….
************ CLICK ON PHOTOS BELOW TO SEE CLIENT VIDEO TESTIMONIALS ************
Buyers tell us that selecting a Clearwater Beach Real Estate Agent,especially online or from a distance, can be a challenge. Some of our past clients agreed to share their experiences and tell you why they think you should work with us.
We can provide you with complimentary information on Relocations ~ Waterfront Homes for Sale, Town homes Condos & Villas ~ Beach House of Your Dreams ~ Clearwater Vacation Homes ~ Clearwater Second Homes ~ Florida Investment Property in Pinellas County ~ Luxury Homes ~ Luxury Condos for Sale in the Tampa Bay resort areas ~ Condos for Boaters ~ Homes for Boaters ~ Boat Ramps ~ Boating ~ Golf Course Homes ~ Diving ~ Freshwater Fishing ~ Saltwater Fishing ~ Latest Home Insurance info ~ Latest Property Taxes Info ~ 1031 Exchange ~ Real Estate Market Reports ~ Resort Properties ~ Condos on the Beach ~ Beach Bargains ~ Foreclosures ~ Pool Homes ~ Homes on the Intercoastal Waterways ~
We can help you buy or sell a home or condo in Clearwater | Clearwater Beach | Sand Key Condos | Island Estates Homes | Saint Petersburg | Palm Harbor | Dunedin | Safety Harbor | Tarpon Springs | Largo | Belleair | Oldsmar | Ozona | Pinellas Park | Gulfport | Tierra Verde | Indian Rocks Beach | Indian Shores | Madeira Beach | Treasure Island | St Pete Beach | Redington Beach | Gulf Beaches | Tampa Bay | South Tampa | 33767
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Clearwater Fl Home Insurance Onion Peel #1 – Will your Insurance Coverage Sink When You Need it Most?
Beware of The Insurance Onion – What You Don’t Know Stinks and Will Make you Cry
When we discuss personal insurance we’re discussing the insurance that protects your home, your cars, your boat, your motorhome, umbrella policies and even the extras like your jewelry, antiques, etc. Most of us have coverage we bought because an insurance agent recommended it – but do we really understand what we have? I know I don’t! Experience shows that what you don’t know can definitely make you cry! Kim Marshall, top Pinellas Luxury Insurance Agent with Carlisle Fields in Clearwater Florida is our Personal Insurance Chef. She skillfully peels back the layers of the Insurance Policy Onions (especially our Homeowners) for us so we can make informed choices and not have any unwanted surprises and find ourselves crying when we least expect. I love surprises, I just don’t want them when it comes to finding out my home or my family don’t have the financial coverage or protection we thought we did. Kim takes a consultative approach to educating her clients, explaining all the layers of insurance onion and her Insurance Recipe (her recommendation) is tailored to each individual’s needs. This is why she’s our Personal Insurance Chef
The Home Insurance Dish with Kim Marshall
We are pleased to announce that Kim will be a frequent guest here on Sandbars to Sunsets and she will continue peel back the different layers of the Insurance Onion and dish out the straight scoop on Clearwater Florida Home Owners Insurance. Kim will also answer the Insurance questions we hear most often and will keep us posted on what is new on the Insurance Menu and what’s changing with regards to home owners insurance in the Tampa Bay area. The Florida Legislature continues to work with the insurance industry to address the need for improved home owner insurance options. We sat down with Kim today and discussed Onion Layer #1 – The New “fine print” in many home owners insurance policies today that means you don’t have sinkhole coverage. It’s often these little changes that can be overlooked or misunderstood and can cause Clearwater home owners a get costly education down the road.
Onion Peel #1 – Are You Really Covered for Sink Holes in Florida – Understanding the Fine Print?
In the video interview below our Clearwater Home Insurance Agent explains that many Clearwater residents have policies that only cover their home if it’s “swallowed” by the earth and it won’t cover the cracks and damage that often occurs with local sinkholes (like in Dunedin, Safety Harbor, Palm Harbor, Hudson and New Port Richey). It reminds me of a TV commercial out right now where the guy asks if he’s covered for a recent car accident and the lady responds – Oh you would have been but you bought the policy that only covers if your name is Al on your drivers license, not Alexander, not Alex, etc.(paraphrasing from what I remember) – it’s entertaining – and it points out the problem – in this case “Al” comes from Alexander and the guy could also go by “Alex” – yet if it isn’t an exact match – he’s not covered. The irony is most of us just trust our insurance agent to be the expert, like Kim Marshall, and to recommend the right options since we don’t even know all the options and the associated ramifications. Now working with Kim we’ll learn more about what we already have and if we’ve got the protections we need. If you’re like me, I want to know now not when I need it and all I get are tissues for my tears. Kim Marshall, Specializing in Waterfront and Luxury Home Owners Insurance explains the different “sinking” options:
Let me know what Home Insurance Question would you like her to tackle next?
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