Can I get Insurance on my Beachside home?
Like most of us who live beachside, there is always the worry about whether or not I can get HomeOwners Insurance on my primary or rental property.
The answer is YES. If you live in Indialantic, Satellite, Indian Harbour, Melbourne or Cocoa Beach there are several A Rated companies that will write your home.
If you were non-renewed by State Farm or Allstate you may have been told or received a letter from your agent that Citizens was your only alternative. Far from the truth. In fact some of the mis-information going around about that subject from State Farm, borders on mis-representation or even lies! I’ve seen some of the letters sent out to State Farm customers and the supposed facts in those letters is preposterous. You can understand why they are doing it of course. When you see that you may lose half of your customer base in 1 year, you are going to get desperate.
Citizens was never meant to be a primary carrier. It is supposed to be a last resort,not the company that an agent goes to first. If you live in a manufactured home beachside, then yes Citizens may be your only option. If it is a single family detached home then you have many options. Universal Property and Casualty, St Johns, Olympus will all write a standard HO3 (HomeOwners Policy). If the home is a higher value home then Lexington Insurance Company (AIG), and Beazley USA (Lloyds) would love to write the home.
There is really no place for a State run monopoly like Citizens to even be in the standard market.
When Allstate started non-renewing a few years ago they put (or tried to put) all of their customers with Royal Palm. That’s great except for the fact that Royal Palm’s rates are up to 30% higher than Universal’s or St john’s. If you were rolled into Royal Palm or Security First get a quote fast from Universal or St John’s.