OTB, can anyone give me an idea on how much I can expect to pay in hurricane/wind insurance on a waterfront property in Rockport? We are in the early stages of looking and trying to gather data on cost of ownership.

Thanks in advance!

https://texags.com/forums/59/topics/3456109

I'd plug 1-2% of home value (purchase price) per year for homeowner's/windstorm/flood and then get a real quote when you know the house location. That is where we have landed in recent years. We renew next month so those numbers may be null and void! We are located in Key Allegro

I was officially advised to "prepare my anus"

So, prepare your anus.

If this is an existing home then see if you can assume the current owner's flood policy, that will save you significantly on at least that part of your insurance. The rest will be way more pricey than you are used to, plan on it being around 2% or little more than that of your insured home value. My advice is be realistic on your re-build costs (plan on them being greater than what you estimate), a lot of policies will have a re-build that are significantly less than true rebuild costs. Many insurance policies significantly underestimate the true costs, so your policy price looks great but if something catastrophic were to happen you may be left holding the bag.

You'll be likely left holding the bag regardless. Those weasels will find any way to not pay you.

It's bad and getting worse. It's the worst part of living on the water, and you better pray you never need it because insurance companies will look for any excuse to screw you if they can.

I'm a wholesale insurance broker and specialize in high risk commercial property

Last year was the worst insurance market I'd ever seen in my career. Rate increases were nonstop. Rates were 1% to 2% if the value of any property right on the beach that were made of wood frame. You were better off buying TWIA coverage than any private offerings

Things have not changed for these types of exposures. While property rates are going down, there still is not enough interest for any insurance companies to compete on wood frame on the beach, thus TWIA will still be your best option.

We recently sold a Key Allegro property. The flood insurance transferred to new owner.

We used TWIA but after Harvey, my parents calculated the cost to scrape the lot and walk away, and put that in a bank account and did not insure for windstorm to replace the structure. I know that sounds crazy. We did have regular homeowners insurance.

Howdy, Rockport resident here, TWIA insurance runs me $4,200 per year, will not get this year's bill until August, Flood is about $400. Note: We are NOT water front, Country Club, water front would be more (perhaps a LOT more) I would think.

Thanks everyone. Very helpful.