Impossible to get 300k liability (landlord insurance) ?

[Reya Ripet]

Hi all.

I'm sure others have noticed (in Florida) how impossible it is to get a landlord policy with 300k liability coverage (in a single policy).

I just recently got a new roof , because of difficult insurance agents. Thinking it would make a difference.

I wish I hadn't bothered! I can only get stupid Citizens insurance with a separate 200k liability policy, but I feel that's inferior, and none of it makes sense?!

Any insights?

Btw, I'm not in Jacksonville, but I am in Florida. My city was not in the options.

Thanks

[Aaron Porter]

The age or condition of a roof doesn't have any relation to the amount or substance of liability coverage that you can place on any given property.  The roof does come into play with the overall cost of your insurance policy though as having to replace the roof on a property is a risk for the insurance carrier.  

My agency is having very hard time finding carriers that are willing to insure homes in Florida because so many carrier have left the state which has left Citizens as one of the few carriers able to insure properties.  Citizens is owned by the Florida Government so they are not going to leave the state.  Which is a pro for individuals who own property in the state.  

My general recommendation for clients is to only carry the amount of liability coverage needed to have an umbrella policy.  Your umbrella policy will add more coverage to not only your property but it can also add coverage to your primary residence, and auto policies.  much better value especially when you consider most umbrella policies cost somewhere between $250-$325 annually for $1million...