Melbourne Insurance Rates:

Melbourne, FL home insurance is roughly $986 to $1,339, about $82-$111/month. Our exhaustive guide reveals consumers can save as much as $465 by getting many quotes

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Melbourne, Florida Homeowners Insurance Reviews reveal the good & the bad so that you can compare the cheapest quotes from the best

Melbourne Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Chubb Group of Insurance
Home Insurance Rate of $2940/12 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $240,000

5 Beds, 5 Baths 2390 sqft Vacation Property Constructed In 2010 with Carpet Flooring, Membrane Roof, Chainwall Foundation, Stone Siding, Metal Frame Construction. Home Features Include Central Air Conditioning, Fireplace, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

27 Years old Single Male who is a Freelancer with household income of $50-$75,000 and has No Pets and is a Non-Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 550-599 Credit Score

  • Seniors staying at home

Home Insurance Rate of $160/1 month for $150000-$175000 Coverage
Policy Holder Home Details :

Home Value : $150,000

3 Beds, 3 Baths 1980 sqft Seasonal Residence Constructed In 1990 with Ceramic Tile Flooring, Membrane Roof, Crawl Space Foundation, Wood siding, Wood Frame. Home Features Include Indoor Sprinklers, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

65 Years old Married Male who has a Part Time Job with household income of $25-50,000 and has 3 Pets and is a Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 550-599 Credit Score

  • Seniors staying at home

Home Insurance Rate of $1600/8 months for $100000-$125000 Coverage
Policy Holder Home Details :

Home Value : $110,000

2 Beds, 2 Bath 1430 sqft Rental Property Constructed In 1960 with Carpet over wood flooring, Asphalt Shingles Roof, Crawl Space Foundation, Stone Siding, Metal Frame Construction. Home Features Include Smoke Alarm, Deadbolt Locks, Copper Water Pipes, Central Air Conditioning, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

55 Years old Single Male who is a Freelancer with household income of $25-50,000 and has No Pets and is a Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 550-599 Credit Score

  • Guests at home

Home Insurance Rate of $910/4 months for $150,000-$175,000 Coverage
Policy Holder Home Details :

Home Value : $135,000

2 Beds, 2 Baths 1312 sqft Rental Property Constructed In 1988 with Carpet over wood flooring, Asphalt Shingles Roof, Crawl Space Foundation, Wood siding, Wood Frame. Home Features Include Deadbolt Locks, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

51 Years old Single Male who has a Full Time Job with household income of $50-$75,000 and has More than 3 Pets and is a Non-Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 600-649 Credit Score

  • Seniors staying at home

  • Guests at home

Melbourne, FL Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
32940 $214,700 $1,200
32935 $119,200 $1,160
32901 $113,700 $1,150

Melbourne Rates & Quotes Analysis:

Melbourne Area Estimated House Insurance
Columbus Ave, Saint Theresas Way, Brockton Way, Live Oak Ln, Hidden Creek Rd, Charon Ave, Sunny Point Dr, Spring Oak Dr, Roberts St, Lagoon Ave$1,165
Beacon Rd, Joyal Dr, Air Terminal Pkwy, Potomac Dr, Irene St, Summerset Dr, Commercial Dr, Nancy St, Wildwood Dr, E Brevard Dr$1,114
Rouen Ave, Canby Dr, Saint James Ln, Hillside Ct, Eber Blvd, Hollister Dr, Caitlin Ct, Arcadia Ct W, Archer Ln, Florida Ave W$1,158
Newland Ct, Meadow Ct, Buffett Ln, Spinet Dr, Ave del Rio, Crescent Dr, Burdock Ave, Maxwell Dr, Susan Dr, Hampton Greens Blvd$1,186
White Heron Dr, Inverness Ave, Clayton Ave, Pickerel Ct, Par Ave, Seminole Ave, Indigo Way, Windward Dr, Sumter Ln, Bryan St$1,222
Barkley Ave, W Fee Ave, Pirate Ln, Joe Walker Dr, Greenway Dr, Stoney Point Rd, Fulton Ct, Radnor Dr, Lake in the Woods Dr, Oakwood Dr$1,113
Kristy Cir, Elder St, NW Valencia Rd, Thrush Dr, Selfridge Dr, Golf Isle Dr, Cape Palos Dr, Renner Ave, Marquis St, Rustic Ln$1,157
Melwood Dr, Canal St, Bridle Path, Queen Ter, Evans Rd, Irwin St, Harrison Ave, Lake View Cir, Redbud St, Oak Park Dr$1,153
Breeze Ridge Rd, Woody Burke Dr, Hibiscus St, Verona Cir, Swift St, East Dr, Empire Ave, Floral Palm Blvd, Coleman St, Barnsdale Dr$1,138
Aruba Dr, Horse Creek Cir, Polk St, E Nasa Blvd, Lowell Cir, Old Colonial Way, Bimini Ave, Brettswood Ln, James St, Ed Foster Rd$1,114

Insurance rates are influenced by a number of factors including:

  • Year Built: 14,350 Homes (23% of total) built between 1980 to 1989 in Melbourne are paying home insurance between $1,736-$1,753 and differs from Melbourne Village (+$55), June Park (+$13), Indian Harbour Beach (+$61), Palm Bay (-$29) and Malabar (-$47).
  • Bedrooms: 8,917 4 bedrooms homes (14% of total homes ) in Melbourne are paying about $1,360. Areas near to Melbourne such as Melbourne Village, June Park, Indian Harbour Beach are costlier by $32, $11, $36 respectively whereas Palm Shores and Palm Bay are more economical by $14, $22 respectively for similar homes.
  • Auto Insurance Bundling: 15,224 Households (43% of all households) in Melbourne have 2 vehicles available and when it is bundled with home insurance you can save $232. Discounts for similar bundling in close by locations such as Melbourne Village, June Park, Indian Harbour Beach come to $240, $234, $240 respectively.
  • Senior Discounts: 20,371 seniors (more than 55 years) occupied housing units (57% of total) in Melbourne get discounts between $174 to $176 in contrast with Melbourne Village ($180), June Park ($175), Palm Shores ($174).
  • New Homes discounts: New homes such as the 29,440 homes built between 2000 to 2009 in Melbourne can save $232 and varies from Melbourne Village ($240), June Park ($234), Indian Harbour Beach ($240).

Melbourne Homeowners insurance Facts

  • Melbourne, FL has 35,300 owner occupied houses which is 69.7% of all units whereas Melbourne Village, June Park and Indian Harbour Beach have 90.21%, 88.09% and 72.31% respectively.
  • Melbourne, FL homeowners yearly insurance price at $1,163 is 0.76% of the typical house value of $152,800 which is in contrast with 0.56% in Melbourne Village, 0.69% at June Park & 0.54% in Indian Harbour Beach.
  • Homeowners in Melbourne, FL pay 6.65% of their income ($15,000 to $19,999) in insurance whereas homeowners in Melbourne Village, June Park and Indian Harbour Beach pay 6.86%, 6.7% and 6.88% respectively.
  • Melbourne, FL’s insurance is 6.9% of monthly housing costs of $1,414/month, for owners with a mortgage compared to 6.82% in Melbourne Village, 6.74% at June Park & 5.37% in Indian Harbour Beach. But, for households without a mortgage, insurance is 22.9% of costs ($424 in Melbourne, FL) in contrast with 22.32% in Melbourne Village, 23.31% at June Park & 19.07% in Indian Harbour Beach.

Melbourne, FL Home Values & Insurance rates

For example, insurance for 1,848 Homes (5.0% of total homes ) valued between $80,000 to $89,999 in Melbourne, FL is about $639. Rates in nearby areas in such as Melbourne Village, June Park, Indian Harbour Beach are cheaper by $171, $53, $182 respectively while Palm Bay and Malabar are costlier by $161 and $311 respectively for similar homes.

Melbourne, FL Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 3,636 10.0% $186
$50,000 to $59,999 1,021 3.0% $395
$60,000 to $69,999 1,002 3.0% $488
$70,000 to $79,999 1,521 4.0% $569
$80,000 to $89,999 1,848 5.0% $639
$90,000 to $99,999 1,405 4.0% $721
$100,000 to $124,999 3,936 11.0% $825
$125,000 to $149,999 2,836 8.0% $1035
$150,000 to $174,999 4,117 12.0% $1232
$175,000 to $199,999 3,099 9.0% $1418
$200,000 to $249,999 3,819 11.0% $1709
$250,000 to $299,999 2,785 8.0% $2093
$300,000 to $399,999 2,205 6.0% $2663

Renters Insurance in Melbourne

  • Average Renters Insurance in Melbourne :  $157($13/month)

  • Median Gross Rent in Melbourne :  $863

  • Melbourne Renters Insurance to Median Rent Ratio:  1.51%

  • Renter occupied housing units in Melbourne :  15,364

Melbourne Renters Insurance as a Percentage of Rent

Melbourne Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
$200 to $299 443 3.0% $789
$300 to $499 664 4.0% $1239
$500 to $749 3,645 25.0% $1914
$750 to $999 4,888 33.0% $2664
$1,000 to $1,499 3,717 25.0% $3789
$1,500 or more 1,118 7.0% $5439

Rent Affordability in Melbourne:

Approximately 51.0% (7,982) of households are spending more than 35% of their income on gross rent in Melbourne

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 969 6.0%
15.0 to 19.9 percent 1,414 9.0%
20.0 to 24.9 percent 1,890 12.0%
25.0 to 29.9 percent 1,638 10.0%
30.0 to 34.9 percent 1,471 9.0%
35.0 percent or more 7,982 51.0%

Protective device discount in Melbourne Up to :  $23

Claims-free discount in Melbourne Up to :  $31