What is the Average Cost of Homeowner’s Insurance in Florida?

Having homeowner’s insurance in Florida goes hand in hand with homeownership, and at times it may feel like an unnecessary expense until a financially devastating accident happens and you need to file a claim.

With the cost of home insurance steadily rising year after year over the past decade, it can leave you wondering whether you are overpaying for your homeowners insurance or even if there are ways you could be saving a few bucks on your monthly premium. However, there are quite a few factors that affect home insurance rates.

Factors Affecting Home Insurance Rates

Your homeowner’s insurance premium in Florida can fluctuate for a variety of reasons, such as where you live. For example, if you live in a high velocity hurricane zone (HVHZ), you will likely pay significantly more for homeowner’s insurance.

Though it is one of the largest factors that affects your insurance rate, it isn’t the only one. Other factors that impact how much you may pay for homeowners insurance include:

  • Your age
  • Your gender
  • Your marital status
  • Your credit score
  • Your claims history

The Average Cost of Homeowner’s Insurance in Florida

According to Bankrate, the average cost of homeowner’s insurance in Florida is about $1,353 annually, with $250,000 in dwelling coverage.

4 Areas Homeowners Insurance Typically Covers

Every homeowner’s needs and insurance policy may be different, but there are a handful of standard coverages that are often included in each one, including:

  • Dwelling coverage which pays for repairs or replacement of the home’s structure
  • Personal property coverage which covers the cost of damages to your personal property
  • Liability coverage which covers your legal liability for property damage or bodily injury
  • Loss of use coverage which covers a variety of expenses incurred while you may have to live away from your home due to extensive damages

Helping You Find the Best Homeowner’s Insurance Rates

Though homeowner’s insurance rates may be steadily rising and there are numerous factors impacting rates for your home, there are several ways you may be able to lower your rates and still get comprehensive coverage.

At GWK Insurance, we help you find the best insurance solutions that make sense for your unique needs. Contact us today to get the best possible homeowner’s insurance options available to you.