Whether you’re looking for vibrant nightlife or family-friendly beaches, Miami Beach is the place to be. But living here comes with a price – and that can make finding affordable condo insurance difficult.
That’s why we’ve made it easy to get an HO6 policy in Florida. Read on to see how much condo insurance costs and how we’re working to get Miami Beach condo owners coverage at a fair price.
Condo insurance costs
Homeowners in Florida are well aware that their state ranks first for most expensive homeowners insurance in the country. But the issues that have caused turmoil for home insurance providers, namely excessive litigation, expensive reinsurance, and increasing weather risks, also impact condo insurance companies. The result? Florida condo owners can see premiums of more than $2,000 per year.
Miami Beach condo owners are likely to pay that much or higher because of their location. Insurance for condos near the ocean is often more expensive. This is partly because of the likelihood of natural disasters, but other risks also come into play.
Risk impacting condo insurance costs in Miami Beach
| Hurricanes |
Seven direct hits and nine indirect hits since 1926 |
| Tornado |
South Florida averages 11 per year |
| Property crime |
1 in 17 chance of experiencing property crime |
How to save money with Kin
Location isn’t the only factor that impacts your condo insurance costs. At Kin, we evaluate granular insurance data, like:
-
Property type. High-rise condos often see more favorable rates because they’re built to better withstand storm winds.
-
Property age. Owners in older buildings may pay more for condo insurance if the building hasn’t been upgraded to current standards.
-
Your credit score. Florida law allows insurance companies to consider your credit score when determining premium.
By looking at more data, we’re able to better understand your condo and offer you a rate that better reflects your particular insurance risks.
Want to know exactly how much you’ll pay for Miami condo insurance? Enter your address to get a quick, no obligation quote today!
Condo coverage for natural disasters
Your HO6 policy insures your condo against several perils, such as:
-
Fire.
-
Internal water damage.
-
Theft.
-
Vandalism.
But what about natural disasters? Let’s take a look at how joining Kin helps you protect your assets against hurricanes, floods, and sinkholes.
Hurricane coverage
Every year, Miami Beach faces the potential threat of hurricanes. Even if you don’t experience a direct hit, you could suffer damage from heavy rain and winds. Luckily, most condo insurance policies include hurricane coverage.
Flood insurance
With the entire city averaging just 4.4 feet above mean sea level, Miami Beach is prone to flooding. However, condo insurance seldom covers flood, which means you may want to invest in flood insurance.
Many Floridians choose to get a flood policy through the National Flood Insurance Program (NFIP), but they could get more affordable coverage from us. Even better, our flood endorsement has:
-
Higher limits.
-
No waiting period.
-
More coverage.
Give us a call at 855-717-0022 to talk about adding flood coverage to your condo insurance.
Catastrophic ground cover collapse coverage
The chance of catastrophic ground cover collapse, when the ground cover abruptly collapses, is a serious concern for Florida condo owners. Our condo policies come with catastrophic ground cover collapse coverage. This means you’re protected if such an event makes your home uninhabitable.
Get the right condo insurance policy for the best price. Get a quote today.
Frequently asked questions about condo insurance
Researching everything you need to know about condo insurance? Start with these common condo insurance questions.
Resources for condo owners in Miami Beach, Florida
How to get condo insurance from Kin
Getting a quote for condo insurance is easy. Simply enter your address for an online quote, or talk to one of our Kinfolk at 855-717-0022. We can't wait to hear from you!
