Buying a Waterfront Property? Here are all the things Insurance Should Cover

Real Estate Broker/Owner with American Brokers Realty Group, Inc 3225276

Hazard insurance is part of your homeowner policy. It is imperative in protecting the financial interest in your home when accidents and damage occur. In a typical home insurance policy, you will find coverage from hazards like wind, fire, falling objects, liability etc. However, with a waterfront property, you need to pay more attention with home insurance.  When buying the house of your dreams at Cape Coral, make sure that you ask for the following when you going through the insurance paperwork.

Wind Damage

Wind damage is supposed to be standard, but the truth is that most insurers, especially Florida’s waterfront homeowners, tend to refuse this part. Nobody likes to go through repeated payouts in anticipation of a hurricane contingency.


You may have already come across plenty of professionals telling you that Flood Insurance is the first thing you need to get, especially if you applied for a mortgage. The National Flood Insurance Program (NFIP) is administered by the Federal Emergency Management Agency (FEMA), which works closely with more than 80 private insurance companies to offer flood insurance to homeowners, renters, and business owners. In order to qualify for flood insurance, the home or business must be in a community that has joined the NFIP and agreed to enforce sound floodplain management standards. Flood Insurance is not part of your homeowners insurance.

Boat Insurance

If you like the idea of walking down to your own boat to complete the waterfront lifestyle, ask about relevant insurance. It is possible that your regular insurance covers a small boat. But that is not the case for bigger and more expensive ones. If you are thinking of docking a yacht on your property, you will have to get that add-on stacked to your home insurance.

Liability Insurance

It is not enough that you consider all the possible hazards and get insurance for their eventuality. It helps if you get insurance that protects you against liability up to the limit of the policy. When you are choosing an insurance policy, do not forget to ask about liability. This covers everything from drowning, people falling from your dock, boating accidents, and diving injuries. You may have nothing to do with these accidents but you could still end up paying court costs and some of the medical bills.

These may not have been the things you had to worry about in an off water home but now you need to. Shop for the insurance that covers all you need at the best price.

Buying a waterfront property in the Cape Coral is not as complicated as some make it out to be. If you are thinking about buying a waterfront property around Cape Coral check out the listings on our site. You can even call us and arrange a meeting with one of our agents. Do not hesitate to tell us about what you are looking for so that we may be able to help you find your dream home.

Comments (0)