Apologies if this has been discussed to death. I could not find a thread that was specific to our particular case...
We are shopping around for a Homeowner's insurance policy. Our property is a 1500 sq./f 2/2 condo by the beach (but our particular unit faces the opposite way) in the Hollywood/Hallandalle Beach area in South FL. We have been living in the same property for years, but prior to this we always had a Renter's Insurance policy.
Problem #1: most reputable companies won't even touch the area. We use Geico for our car and umbrella policies, and are very happy with them, but no luck in this case. State Farm won't even bother following through with a quote.
Problem #2: The only ones that seem to cover the area are companies I never heard of in my life, and all feel a little too "mom and pop" to me, at least over the phone. Not reassuring at all.
Problem #3: Their quotes are widely diverse, ranging from around $1K to $3K / year for $50K dwellings and $50K personal property. One of them includes Wind Insurance for less than $1K, another costs $1,300 just for dwelling/personal property, and a separate $1600 policy ONLY for hurricanes/wind through Citizens. It's a case of "too much, won't bother, can't afford it" or "too cheap, feels suspicious".
Problem #4: My main concern is actually properly ensuring my electronics (I'm a serious audio/video hobbyist, also known as an "audiophile" ( ), and my stereo/home-theater alone is probably worth $20K+. I also have an extensive movie collection that I have been building throughout the decades. Much to my surprise, a lot of the titles are now collector's items and the entire lot would probably command a small fortune on e-bay (titles I originally paid $15 for are going for hundreds of dollars each). I can spend a lot of $$$ every year, but I'm sure that if the s hits the f, none of this valuables (to me) will be properly taken care of. A raider is obviously needed, and we have used them in the past for items such as fine art, but I have not found a company that offers one specifically aimed at insuring electronics, memorabilia, etc...
The whole process is frustrating, to say the least. The cheapest quote was from a company called Entrust Insurance Services / Universal Property And Casualty Insurance Company, in Coral Gables. Their total came to slightly less than $1K/year (after deductions due to our impact windows and hurricane shutters). This is slightly higher than what we used to pay for our Renter's Insurance. It includes $50K/$50K coverage, $300K liability, and a $1K deductible and replacement value for the personal property. But has anybody even heard of them? A Google search revealed next to nothing when it comes to user reviews.
Finally, does anybody living in a condo in this area go by WITHOUT insurance? If so, what is your reasoning? Would love to hear your feedback. Thank you all in advance!
We are shopping around for a Homeowner's insurance policy. Our property is a 1500 sq./f 2/2 condo by the beach (but our particular unit faces the opposite way) in the Hollywood/Hallandalle Beach area in South FL. We have been living in the same property for years, but prior to this we always had a Renter's Insurance policy.
Problem #1: most reputable companies won't even touch the area. We use Geico for our car and umbrella policies, and are very happy with them, but no luck in this case. State Farm won't even bother following through with a quote.
Problem #2: The only ones that seem to cover the area are companies I never heard of in my life, and all feel a little too "mom and pop" to me, at least over the phone. Not reassuring at all.
Problem #3: Their quotes are widely diverse, ranging from around $1K to $3K / year for $50K dwellings and $50K personal property. One of them includes Wind Insurance for less than $1K, another costs $1,300 just for dwelling/personal property, and a separate $1600 policy ONLY for hurricanes/wind through Citizens. It's a case of "too much, won't bother, can't afford it" or "too cheap, feels suspicious".
Problem #4: My main concern is actually properly ensuring my electronics (I'm a serious audio/video hobbyist, also known as an "audiophile" ( ), and my stereo/home-theater alone is probably worth $20K+. I also have an extensive movie collection that I have been building throughout the decades. Much to my surprise, a lot of the titles are now collector's items and the entire lot would probably command a small fortune on e-bay (titles I originally paid $15 for are going for hundreds of dollars each). I can spend a lot of $$$ every year, but I'm sure that if the s hits the f, none of this valuables (to me) will be properly taken care of. A raider is obviously needed, and we have used them in the past for items such as fine art, but I have not found a company that offers one specifically aimed at insuring electronics, memorabilia, etc...
The whole process is frustrating, to say the least. The cheapest quote was from a company called Entrust Insurance Services / Universal Property And Casualty Insurance Company, in Coral Gables. Their total came to slightly less than $1K/year (after deductions due to our impact windows and hurricane shutters). This is slightly higher than what we used to pay for our Renter's Insurance. It includes $50K/$50K coverage, $300K liability, and a $1K deductible and replacement value for the personal property. But has anybody even heard of them? A Google search revealed next to nothing when it comes to user reviews.
Finally, does anybody living in a condo in this area go by WITHOUT insurance? If so, what is your reasoning? Would love to hear your feedback. Thank you all in advance!