Buying a home in Margate, FL means thinking about more than the purchase price and mortgage payment. Homeowners insurance can become an important part of both your closing process and your long-term cost of owning the property.
For buyers in ZIP code 33063 and surrounding Margate communities, Florida’s insurance market can feel complicated. Roof age, construction, wind mitigation features, prior claims, replacement cost and flood exposure can all affect the options available.
The good news is that you don’t have to figure it out alone.
Barefoot Insurance Brokers has been helping Florida consumers navigate the insurance marketplace since 2013, with a brick-and-mortar office right here in Margate, next door to the DMV on Banks Road.
Start Shopping for Insurance Before Closing
One of the easiest mistakes a Florida buyer can make is waiting until the last minute to obtain homeowners insurance.
Instead, begin the insurance conversation while you’re still working through inspections and financing.
An insurance agent may need information about:
- Year the home was built
- Roof age and roof covering
- Electrical system
- Plumbing
- HVAC system
- Construction type
- Wind mitigation features
- Prior claims
- Desired coverage
- Mortgage requirements
Older properties may also require inspection documentation such as a four-point inspection.
Starting early gives you more time to resolve questions before your closing date starts galloping toward you.
Market Value and Replacement Cost Aren’t the Same Thing
Your home’s purchase price isn’t necessarily the amount for which the dwelling should be insured.
Homeowners insurance generally considers the estimated cost to repair or rebuild the structure after a covered loss.
Land value is different from reconstruction cost.
That distinction is particularly important when real estate prices move up or down. A declining sale price doesn’t automatically mean a home should have a proportionally lower dwelling limit.
Why Wind Mitigation Matters in Broward County
Florida homes face significant wind exposure.
A wind mitigation inspection documents construction features that may help a home withstand hurricane-force winds.
Depending on the home, an inspection may document features involving:
- Roof shape
- Roof-to-wall connections
- Roof deck attachment
- Secondary water resistance
- Window and door protection
- Garage door protection
Qualifying mitigation features can affect the wind portion of a homeowners premium, which makes the wind mitigation report an important document when shopping for coverage.
Don’t Forget About Flood Insurance
Homeowners insurance and flood insurance solve different problems.
A standard homeowners policy generally doesn’t provide coverage for flooding caused by rising water.
Margate participates in the National Flood Insurance Program’s Community Rating System, and the City maintains flood-zone information and resources for residents.
Even when a lender doesn’t require flood insurance, buyers should still understand the property’s flood exposure and consider obtaining a quote.
Barefoot can compare available NFIP and private flood insurance options depending on the property and eligibility.
Questions to Ask Before You Buy
Before closing on a Margate home, consider asking:
- How old is the roof?
- Is there a current wind mitigation inspection?
- Is a four-point inspection required?
- Are the windows or shutters impact rated?
- Has the property had prior insurance claims?
- What flood zone is the property in?
- Does the lender require flood insurance?
- What is the estimated replacement cost?
- Are there features such as a pool, screened enclosure or detached structure that should be discussed?
- What deductibles are available?
These questions can uncover insurance considerations while you still have time to address them.
Why Shop More Than One Insurance Company?
Different insurers can have different underwriting guidelines, pricing, deductibles and eligibility requirements.
That’s one reason working with an independent insurance agency can be useful.
Barefoot Insurance Brokers represents multiple homeowners insurance markets and researches underwriting criteria to help match customers with appropriate available options.
Our homeowners markets include insurers such as Security First, Cypress Property & Casualty, Universal Property & Casualty, Monarch National, Edison, Florida Peninsula, Ovation, SageSure, Swyfft, Slide, Patriot Select, American Traditions, American Integrity, Orchid and other available markets.
Availability depends on the individual property and current underwriting requirements.
Local Help in Margate
Barefoot Insurance Brokers isn’t a national call center pretending to be local.
Our Margate office serves the community with knowledgeable insurance professionals who work in the Florida market every day.
We are an independent, woman-owned insurance agency established in 2013, and many of our customers have been with us since the agency’s early years.
Our goal is straightforward: research the available options, communicate clearly and make buying insurance as hassle-free as possible.
Frequently Asked Questions
Is homeowners insurance legally required in Florida?
Florida generally doesn’t require homeowners to purchase a homeowners policy simply because they own a home. Mortgage lenders, however, typically require borrowers to maintain acceptable property insurance.
Does homeowners insurance cover flooding?
Standard homeowners policies generally exclude flood damage caused by rising water. Flood insurance is normally purchased separately through the NFIP or an available private flood insurer.
Should I get a homeowners quote before making an offer?
You can begin researching insurance early, but a meaningful quote generally requires details about the specific property. Once you are seriously considering a home, obtaining insurance information before closing is wise.
Does a lower home purchase price mean I need less insurance?
Not necessarily. Market value and the estimated cost to rebuild a home are different measurements.
Can wind mitigation lower my insurance premium?
Qualifying wind-resistant construction features documented through an acceptable inspection may qualify for applicable mitigation credits.
Can Barefoot also quote my flood and auto insurance?
Yes. Reviewing home, flood and auto together can also help identify gaps, overlapping needs and available carrier opportunities.
Buying a Home in Margate?
Whether you’re moving across Broward County or relocating to Florida, Barefoot Insurance Brokers can help you research homeowners, flood, auto and umbrella insurance options before closing.
Visit or contact our Margate, Florida office to speak with a knowledgeable local insurance professional.
Coverage, discounts, underwriting requirements and eligibility vary by insurer and property. This article is general educational information and isn’t a substitute for reviewing the specific policy and property.
About the Author
Kassy Mendez is a Licensed Independent Insurance Agent with Barefoot Insurance Brokers, bringing years of industry experience in personal lines coverage to Florida homeowners and families. Her areas of expertise include flood insurance, homeowners insurance, high-valued and coastal home insurance, wind-only coverage, personal umbrella policies, and auto insurance throughout Florida. Kassandra Mendez is known for helping her insurance clients navigate complex risk exposures with clarity and confidence. You can reach Kassy Mendez directly at kassy@barefootins.com or call/text 754-233-0637 to discuss your insurance needs.