How Much Is Condo Home Insurance in Miami and Florida?

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This is a question that should be asked more often by home buyers earlier on in the process, and certainly well before closing if they are getting a mortgage.

That's because banks will factor in your home insurance premium into their debt-to-income (DTI) calculations, and if you get them a quote late in the process that turns out to be much higher than they were assuming, then the ability to fund your loan at closing may be in jeopardy.

As a result, it's always a good idea to check with a few home insurance companies early on to get a sense of what you'll have to pay on a monthly or annual basis.

Fortunately for condo buyers and owners, they are only generally responsible for the interior of their unit. Therefore, they typically don't need to worry about purchasing flood insurance or other exterior hazard insurance which can be quite expensive in Florida for single and multi-family house owners due to the inherent climate risks here.

However, we've still found H06 condo insurance to be generally more expensive than comparable H06 insurance for condos in NYC.

Watch our video to learn more about what H06 condo home insurance generally costs in Miami and Florida generally, as well as how much more home insurance for a single-family house can cost.

Pro Tip: H06 insurance is the industry term for condo unit "wall-to-wall" coverage. As the in name implies, coverage is of the interior of the condo unit which the unit owner is responsible for.

Please leave us a comment and let us know your thoughts, and any tips of your own!

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Hauseit Group LLC, Licensed Real Estate Broker
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