Beach condo. Can I purchase additional insurance for my individual unit?

[Anonymous]

If the building's coverage is severely limited due to it's location, what are my options for my individual unit?
Am I going to end up paying an arm and a leg for my own coverage?

I have not purchased the condo yet. I am still undecided.

[Anonymous]

Of course you can ho3 coverage but also look into ho6 coverage

Tyler in condo plus ho3 in google etc

[Anonymous]

Anonymous wrote:Of course you can ho3 coverage but also look into ho6 coverage

Tyler in condo plus ho3 in google etc

I have been told the building's coverage is awful but I do not know all of the details just
yet.

[Anonymous]

Awful is ok sometimes

[Anonymous]

You can buy additional coverage. And I’ll bet that the condo insurance for the building is not that bad.

My guess is that it has a very high deductible, like $100k-$250k. Which just means that if there are 50 units that you need to be prepared to pay your share of the deductible if necessary.

[Anonymous]

Anonymous wrote:Awful is ok sometimes

Why do people still buy if the coverage is awful?

Is the ocean that desirable for some people?

[Anonymous]

Is a view like this really worth the hassle?

[Anonymous]

Anonymous wrote:

Is a view like this really worth the hassle?

My mom has a condo with a view just like that. I’d say that for her, at least, it’s more than worth it. Accidents don’t happen as often as extra insurance warrants

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Is a view like this really worth the hassle?

My mom has a condo with a view just like that. I’d say that for her, at least, it’s more than worth it. Accidents don’t happen as often as extra insurance warrants

Can you visit for free?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Is a view like this really worth the hassle?

My mom has a condo with a view just like that. I’d say that for her, at least, it’s more than worth it. Accidents don’t happen as often as extra insurance warrants

Can you visit for free?

Yes, my mom always is happy to have me over. I’m there for Christmas to New Years and random weekends of the year. The condo fees have increased quite a bit after that one building collapsed, so every building in those islands is doing reviews/repairs, but should (lol) come back down after that

[Anonymous]

OP, the answer is yes, you probably can buy coverage - but you don't give enough information for us to help you.

Where is the condo? How close to the beach? What floor?

You can also almost certainly call an insurance agent to get an estimate before putting down an offer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Is a view like this really worth the hassle?

My mom has a condo with a view just like that. I’d say that for her, at least, it’s more than worth it. Accidents don’t happen as often as extra insurance warrants

Can you visit for free?

Yes, my mom always is happy to have me over. I’m there for Christmas to New Years and random weekends of the year. The condo fees have increased quite a bit after that one building collapsed, so every building in those islands is doing reviews/repairs, but should (lol) come back down after that

You are lucky your mother is open to visits. Not all senior parents are like that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Awful is ok sometimes

Why do people still buy if the coverage is awful?

Is the ocean that desirable for some people?

Because the monthlies are sky high if great insurance and depending on floor you may never need it or may even be able to collect

[Anonymous]

At beach insurance is weird. My beach condo has two lower “garden level” units and 20 upper units.

The uppers have never had water ever.

The lowers were flooded twice in last 40 years but FEMA for flood insurance purposes considers them basements so very little coverage.

We have full coverage to max allowed by law but owners may think it is poor coverage.