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What You need to know about Homeowner’s Insurance in Miami!

September 12, 2009

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M


Buying an older home in Miami?  If  it was built more than 25 years ago, there are some  insurance coverage guidelines  you may want to be aware of.     Tile roofs  30 years old, or more … require  recertification.  Shingle roofs  25 years old, or more… require recertification.  Both tile and shingle must have a minimum remaining life expectancy of  3 years .


Wind mitigation inspection (for roof,  and shutters/ impact windows and doors)  can cut your insurance premiums.  A roof  replaced after Hurricane Andrew  can save you a lot of money.   Savings  are the same, whether the house has impact glass or it has shutters.

Citizen’s Insurance requires homes built 50 years ago (or more)  to have updated plumbing, air conditioning, roof and electric.  That means that everything from the wall out (PVC piping, traps, etc) needs to be replaced.

A house with fuse boxes can benefit from reduced insurance rates, provided that the buyer issues a letter stating that he/she  will convert to circuit breakers within 30 days of closing.

Homes  35 years old (or older ) require a FOUR POINT INSPECTION.  The Four Point Inspection actually came into existence after  Hurricane Andrew slammed Florida in 1992 … and the inspection covers roof, electrical, plumbing, roof and HVAC ( heat, ventilation, and air conditioning). Passing the four point inspection gives new homeowners  insurance discounts that are fairly substantial.  Not all inspection companies offer these inspections and Citizens requires they  be done by an engineer, architect or contractor.

Many landlords now require their tenants  take out renter’s insurance. Effective January 6, 2009   Condo owners are  required to carry insurance above and beyond any insurance the building itself carries.  (Individual owners must now have condo unit owner’s policy).   The condo association and/or  mortgage company can enforce the rule.  

Rates for Citizens’ coverage are expected to increase by 10%  January 2010.

If you’re buying a house in Florida,  you’re probably wise to have all your inspections done at one time.  Doing so will save you money on the inspections themselves (as opposed to doing them separately) and passing those inspections will save on insurance coverage.

There’s a lot to navigate in buying or selling a house. MiamiRealEstateCafe.com  invites you to Contact Us with any questions you have regarding real estate.  We blog about what impacts Miami (buyers and sellers) and your comments and thoughts are welcome! Looking for a Realtor?  Call Vicki Restivo (305) 793-1365 / Alexandra Restivo (305) 632-0164.

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