INSURANCE

This is really easy; if you're getting a mortgage you're going to need insurance. No ifs, ands or buts about it. The lender will not close without an insurance policy in place. (It’s a racket)

If you are paying Cash, no need for insurance (see told you it was a racket).

There are all sorts of different types of policies and scenarios, here goes;

Hazard, flood, theft, vandalism, replacement cost.

Are you east or west of US1? Does your hazard insurance include windstorm coverage?

Do you need flood insurance? Are you in an X zone or AZ?

What is replacement cost and did I mention windstorm?

Windstorm insurance is required as part of all residential policies.

Windstorm, that's a nice way of saying HURRICANE.
(For those who are not familiar with the South Florida area, we have a large body of water nearby that sometimes gets upset between June & November of each year.)

Replacement cost is how policies are valued/written, so don’t be surprised if your agent requests a copy of your appraisal to determine the replacement cost (most appraisals cover this in a section called “cost approach”)

As mentioned in the insurance section; agent will request a copy of 4 point (if home is older than 40years) and if you have a wind mitigation report present it when you ask for your quote (it will save you dough).

The folks below can help determine what policy and limits are right for you.

If you have any questions drop me a note at javiergonzalezpa@bellsouth.net or call me at 305.582.5085

1. Beacon Insurance 
    Phone: 305.266.9706 Fax: 305.468.6503

2. Allstate Insurance 
    Phone: 305.253.5330 Fax: 305.253.6169

3. State Farm Insurance 
    Phone: 954.475.2662 Fax: 954.475.8843

Please be advised that although we are familiar with these businesses and acknowledge their professional abilities, we do not recommend nor endorse any specific service(es) and/or business(es) and always encourage that you seek independent advise, written estimates and counsel of your choice before you undertake to perform, hire or pay for these or any related services.