🌴 Florida Buyer Series: Insurance 101
by Monica StefanescuLink to article in Romanian
Buying a home in Florida is exciting — sunshine, palm trees, and year-round outdoor living. But along with the lifestyle comes something Midwest and Northern buyers often don’t expect: unique insurance requirements.
Here’s a breakdown of the main types of insurance that matter when buying in Tampa Bay:
🌊 Flood Insurance
Required in FEMA Flood Zones – If the home is in a designated zone, your lender will not close without a flood policy.
Optional, but smart – Even if your property isn’t in a zone, many homeowners still choose coverage for peace of mind.
Premiums vary – Elevation, distance from water, and FEMA maps all impact rates. Two homes on the same street can have very different costs.
Flood zone ≠ evacuation zone – A home might not require flood insurance but could still be in a hurricane evacuation area.
🌬️ Wind Mitigation
An inspection that evaluates your roof, doors, and windows.
Submitting a wind mitigation report can reduce your premiums if your home has hurricane straps, impact glass, or other reinforcements.
Often required for homes 20+ years old.
🔌 4-Point Inspection
Focuses on Roof, HVAC, Plumbing, Electrical.
Many insurance companies require this for homes older than 20 years.
Identifies risks before a policy is issued — older roofs or outdated wiring can mean higher costs or denied coverage.
🐜 Termite / WDO Coverage
Termite activity is common in Florida due to the climate.
Most buyers order a WDO inspection before closing.
Some homeowners choose termite bonds (transferable warranties with pest companies) for long-term protection.
🌀 Sinkhole Coverage
Florida has more sinkholes than any other state.
Basic homeowners policies cover “catastrophic ground collapse,” but sinkhole coverage is often an add-on.
Particularly relevant in certain counties (Hernando, Pasco, Hillsborough).
🏚️ Vacant Homes & Insurance
Did you know that if a home is vacant for 30+ days, a standard homeowner’s policy may not cover losses?
Empty homes are considered high-risk by insurance companies, so in many cases the owner will need a vacant home policy (DP-1) instead.
This is especially important if a home is:
🏠 For sale but empty
🔑 Between tenants
🛠️ Under major renovations
📌 A primary residence policy will not always cover claims if the property is sitting vacant. Always confirm with your insurance provider what type of coverage is needed.
✅ Key Takeaway
Insurance in Florida isn’t just a formality — it’s part of your buying strategy. The right coverage protects your investment and ensures your loan closes smoothly.