Leigh Insurance Agency of St Augustine Blog
Buying a new home, especially your first, can be an extremely exciting time. But before you get to the decorating, renovating, or just living, you want to be sure the home is properly insured.
After all, it’s more than just a roof over your head! Understanding what is necessary to insure a house in Florida before you purchase it can save a lot of time, money and headaches in the long run. At Leigh Insurance Agency, we are always happy to help our customers decide if a potential home is a smart (or insurable) purchase.
One major item to take into account when buying a home is the age and/or condition of the roof, especially if it is shingle. While some homeowners insurance companies will insure shingle roofs up to 20+ years, most in the state of Florida have cracked down to mitigate risk. If the home is older, is there documentation showing it has been replaced? Make sure the seller or previous owner has a permit or proof of the replacement on file. Otherwise, you may be faced with either additional surcharges, cancellation or forced to replace the roof on your own accord.
We all love a fixer-upper, but if the home you are purchasing will not be livable for months after closing, you may be looking at a pricey insurance policy. If the home will have to sit vacant for an extended period of time during renovations, some homeowners carriers will not be willing to write the risk. In addition, major items in the home may need updated before a policy can be written, which could be a problem at closing.
If you are looking to purchase a home near the water, make sure you are aware of the current rates for flood insurance. Do you have an elevation certificate for the home from the seller or owner? Is the home in a flood zone? The National Flood Insurance Program has recently taken on rate revisions, so if this is a requirement for your home purchase, be sure you have a ballpark quote before signing documents – sometimes, it can be a costly and unexpected expense based on location!
At Leigh Insurance Agency, we would be happy to answer any questions or concerns you may have regarding a new home. Give us a call today at 904-826-0799, or stop by our office at 1797 Old Moultrie Road, Suite 111, in St. Augustine for more information.