Ruby the Liberal
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Tue Jan-25-11 08:28 PM
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Home/Condo owners - Question about insurance |
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Mods, please move if in the wrong forum.
Question for peeps who have owned single family homes as well as condos. I understand the difference between the 2 coverages (and the need to price out kitchens, cabinets, bathrooms and the like), but can't seem to find anything about insurance rates.
Can someone give me a ballpark on the difference in annual cost? Half? More than half?
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juajen
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Tue Jan-25-11 08:30 PM
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1. Depends on your location. Hurricane alley is very expensive. |
Ineeda
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Tue Jan-25-11 08:39 PM
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2. My insurance (perhaps all Florida?) |
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does not take any of the things you mention into account (kitchens, etc.) I could renovate and put in a $100K kitchen and home-spa type bathrooms and it wouldn't matter. Age of house, type of construction, type and age of roof, are the primary concerns. Sorry, but because I carry flood, wind, and homeowner's coverage (fire, liability,) I can't give you a figure. I'd advise you to contact several insurance agents to compare.
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Ruby the Liberal
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Tue Jan-25-11 08:47 PM
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3. Since I can't get an answer from the google, I am thinking you are right. |
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The condo I am looking at states that I am responsible from the studs inward and to be sure and take everything inside (cabinets, etc) into account.
I know renters was like $100 and Home Owners (same personal possessions) is $600. Was just curious if anyone here ever compared the same for HO/condo?
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taught_me_patience
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Tue Jan-25-11 08:57 PM
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4. We're required to be insured for 1/5 price of the condo |
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for inside damage to be compliant with our mortgage. $100k of insurance is approx $200/yr in Los Angeles w/o earthquake insurance.
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Ruby the Liberal
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Tue Jan-25-11 09:08 PM
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5. That is helpful. Thanks! nt |
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Wed Apr 24th 2024, 11:18 PM
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