What’s the Average Price of Homeowners Insurance Florida Residents Pay?

While searching for homeowners insurance Florida residents will come across more than one average price of coverage. This is primarily owing to two reasons. Aggregators take into account a shortlist of insurance companies operating in the state. There are more than thirty insurers in Florida. Less than fifteen have a sizeable market share.


Only three have nearly or over half a million policies in effect. Half a dozen or so insurers have anywhere from a hundred thousand to three hundred thousand policies each in force right now. More than two dozen insurers have around or fewer than a hundred thousand policies. Hence, the shortlist of insurers you use will give you a certain average. If you consider more insurers, the average is bound to change.


The other factor taken into account is the coverage. Many aggregators use a standard dwelling coverage worth two hundred thousand dollars. When it comes to homeowners insurance Florida if you increase or reduce the coverage, the average cost of homeowners insurance in Florida will change accordingly.

You are likely to come across averages as high as three thousand and five hundred dollars and as low as fifteen hundred dollars. Two thousand to two thousand and five hundred dollars should be considered to be a more balanced average considering all insurers and all types of coverage. The lowest you can pay for homeowners insurance in Florida is around five hundred dollars, could be a few bucks less.


The highest you can pay is around ten thousand dollars, could be substantially more in certain scenarios. As you may realize by now that the average cost of homeowners insurance in Florida is not really an indicator of how much you would be paying and you cannot generalize coverage either.

When it comes to homeowners insurance Florida residents should study the average cost of coverage in  Florida, you should also explore the pertinent factors that would influence the annual or monthly premiums. One of the most important factors is insured value or the coverage for your dwelling that could be less than a hundred thousand or over three hundred thousand. This insured value depends on how much your property is worth, including the land.


You may exclude the value of the land and seek coverage only for the structure with the contents in the property of course. Location, distance to or from the ocean, chosen deductibles, type of construction, the age of a property, hurricane shutters, type and shape and age of roof, past claims, selected options in regards to contents, credit score and choice of the insurer will be other important factors.

Finding the Right Insurance in Texas

Homeowner’s insurance is an invaluable layer of protection for what’s probably the biggest investment of your life. Insurance in Texas will not always be the same for every consumer. It’s important that you know what you’re getting into. There are general guidelines about homeowner’s insurance that may help. The Texas Consumer Bill of Rights is available at your request, but should be sent to you any time you get or renew a policy.

The average insurance policy will, in one way or another, cover the following:

  1. The dwelling itself is covered if the structure is damaged or destroyed by a covered loss.
  2. Your personal property is covered if it is stolen, damaged or destroyed.
  3. If you have other structures on the property (garage, shed, fence), they are covered for repair or rebuild, even if they’re not attached to the house.
  4. Loss of use covers living expenses accumulated if you cannot live in the house due to damage from a covered loss. Living expenses can include housing and food, and other essential expenses. The policy may cover a specific period of time (up to 24 months in Texas) or percentage of amounts of the dwelling’s coverage (an average 10 to 20 percent).
  5. Personal liability will apply if you have to defend yourself in a lawsuit if accused of being responsible for another party’s property damage or injury.
  6. Your coverage will likely include medical payments for third-parties hurt on your property.
  7. Some policies cover injuries or damages that may result when you’re away from home.

Types of Residential Policies

Texas is a big place, a world of cowboys and executives, big open spaces and cosmopolitan living. When looking into insurance in Texas, you want to make sure you have the right kind.

  1. Renters insurance can cover personal property in case of loss, theft or damage. Landlord’s are not obligated to cover any personal property in their structures (unless it can be legally proven the loss is their fault). Depending on the policy, renters insurance can cover forces that require you temporarily relocate.
  2. Condominium insurance protects belongings, offers liability protection, covers any additional living expenses and can cover condo damages, improvements, additions and alterations.
  3. Townhouse insurance covers an unique set of homeowner conditions. A townhouse occupied by its owner would have a policy that differed from one owned by an association. Associations can have master policies that may not cover the individual units, meaning residents may need separate policies to safeguard their personal property.
  4. Most mobile homes will have a mobilowners policy when the mobile home is used as a residence. These policies usually offer limited coverage. Mobile homes on blocks or a foundation may qualify for a policy too.
  5. Ranch and farm insurance cover properties where farming and livestock are managed and cared for. There is also insurance for outbuildings and equipment that qualify.

Insurance in Texas is ready to protect you and your assets under almost any condition. In certain areas, such as Galveston Bay or one of the coastal counties, you can get hail or windstorm insurance. Texas Windstorm Insurance Association, or TWIA, insurance comes into play if you plan to build, add or renovate the structure. With this coverage, you will be provided with official inspectors and engineers who will ensure any work is sound and meets Texas exacting construction guidelines and stages.

From potential expenses involving your sewage systems to mold remediation, insurance in Texas can be a complex and extensive process. Choose a provider like https://www.texasquotes.com/homeowners-insurance/ carefully and make sure you understand what’s in your policy.