Flood, Windstorm and Homeowners are necessary for financing your new coastal home (should you be in a flood zone). Shop locally for a great policy. HINT: Shop your insurance at the same time you are doing your banking. “Do not wait till the last minute”, insurance on the coast is different than inland. Ask for the three policies. If you can afford it, be sure and get an additional flood policy.
It is our understanding that flood insurance will not transfer and a new rating for your insurance quote will be required. Do not believe when are told by a property owner “this property is grandfathered” because as of July 2013, the grandfather clause is disallowed. Please check this information with your insurance underwriter and do not rely on this helpful hint. Please satisfy your own needs. Shop your insurance well.
Some of my favorites:
McMahon & Hadder Insurance – www.mcmahoninsurance.com
Tim Wise Prudential Insurance 850-932-1823 Especially good with beach properties.
Underwood Anderson Insurance Agency – Contact David Radcliff in Gulf Breeze, FL. – www.underwoodanderson.com
