Wind mitigation, four-point inspections, flood zones and binding restrictions: how insurance shapes a South Florida purchase and when to start.
Insurance is part of the price
In South Florida the annual insurance premium can change what a home really costs as much as a few points on the price. Two similar homes on the same street can quote very differently because of roof age, window protection or flood zone.
Get a quote while you can still renegotiate or walk away, which means during your inspection period.
Inspections insurers ask for
A wind mitigation inspection documents roof shape, roof-to-wall connections and impact windows or shutters. Each feature can earn a discount, and the savings often pay for the inspection in the first year.
Older homes usually need a four-point inspection covering roof, electrical, plumbing and HVAC. An old roof or outdated electrical panel can make a home hard to insure until it is replaced.
Flood is separate
Standard homeowners policies do not cover flood. Check the property's FEMA flood zone and ask the seller for an elevation certificate if one exists. Lenders require flood insurance in high-risk zones, but water reaches homes outside them too.
Ask the seller what they pay today. A current policy is a useful starting point, though your premium will be priced fresh.
Watch the calendar
When a named storm threatens South Florida, insurers stop writing new policies in the area until it passes. That can delay a closing. Hurricane season runs June 1 to November 30, so build a little slack into closing dates in those months.
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