Investor · Warner Robins, GA · Member since 2011 · 83 posts · 15 votes
I have 24 rentals in the middle Georgia area and I just bought one in Jacksonville, fl. It's my first outside of Georgia and I have a local partner (in jax) but it's their first.
I need homeowners insurance. My partner was getting it and we are told we have to pay for an inspection. I never pay for an inspection here and it's usually a drive by when they do it.
The inspector says we need a new roof. It's is old but it's not that bad. I have had a lot worse and never been forced to replace it to get insurance. I even get insurance on dilapidated properties that I'm renovating.
I get an actual-cash-value policy and they are only offering replacement cost. I understand the inspection would affect the value of the policy but I don't see why it stops me from getting the policy.
Is this normal?
Is anyone familiar with the rules in Jacksonville?
Investor · Choctaw, OK · Member since 2015 · 11 posts · 1 vote
10y
There is only 1 company in Florida?
Yes, an insurance company can choose to not underwrite the policy because of the roof condition. I use a couple of different companies for investment properties. If they have a good roof, I use a company that used to send someone out to do a roof inspection (at no cost to me). This spring, I just found out they no longer do even that. So I may start giving them everything.
I have another company I found that you can simply exclude the roof from the coverage. Most companies will not do that.
Investor · Warner Robins, GA · Member since 2011 · 83 posts · 15 votes
10y
I know there are many companies with different rules. I am not in town and my partner is new. I called one other and was told them same thing.
My local agent said different states have different rules and she didn't know what was mandated.
Jacksonville is turning out weird. I'm told a permit is required to replace a water heater. That's never the case here. You never know the weird laws in other cities.
Tomorrow I will call a bunch.
Just thought someone here may have experience in the area and could make a recommendation.
I believe that what you're talking about is a 4 point inspection. Since in Florida there's only one major insurance which is run by the state it's called Citizens they require an inspection in order to determine if they will insure you or not.
And yes if the inspector gives your roof no life left this they will not insure you.
Jacksonville, FL · Member since 2015 · 17 posts · 2 votes
10y
Check out UPC insurance. I got them to cover one of my rentals in Jacksonville that has a 1996 roof. A little higher premium but nothing too outrageous.
Jacksonville, FL · Member since 2015 · 24 posts · 1 vote
10y
I'm an investor here in Jacksonville, and I also own an insurance agency. Give me a shout whenever you're in need of insurance for your properties in Jacksonville.
Investor · Atlantic Beach, FL · Member since 2015 · 36 posts · 13 votes
10y
I'm having the same issues currently with a house here in Jacksonville. Some insurance companies wouldn't cover it, some wanted me to pay for an inspection, and some would send out an inspector at their cost. I was using an insurance broker that helped break it down for me based on if I was planning to replace anything right away or wait. I went with one that did their own 4 point inspection so I wouldn't have to pay. This was last week and I am still waiting on the results.
Nashville · Member since 2019 · 110 posts · 23 votes
7y
I didn’t choose any property management company now. The property management company which I choose before was so irresponsible. I think they waste my money.
Check out UPC insurance. I got them to cover one of my rentals in Jacksonville that has a 1996 roof. A little higher premium but nothing too outrageous.
UPC Insurance was declared insolvent in February, 2023. I'm still seeking a dp1 or dp2 policy in Pinellas County, FL.