Miami Beach Insurance Rates:

Miami Beach, FL home insurance is about $1,071 to $1,462, about $89-$121/month. Our extensive guide indicates shoppers can save as much as $506 by getting many quotes

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Compare & get the cheapest Miami Beach, Florida home insurance quote while also getting the best customer & claims service.

Miami Beach Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Chubb Group of Insurance
Home Insurance Rate of $2610/6 months for $250000-$300000 Coverage
Policy Holder Home Details :

Home Value : $250,000

3 Beds, 3 Bath 1550 sqft Seasonal Residence Constructed In 2011 with Linoleum, Membrane Roof, Crawl Space Foundation, Brick siding, Wood Frame. Home Features Include Indoor Sprinklers, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

58 Years old Married Male who is a Freelancer with household income of $100-$150,000 and has More than 3 Pets at home and is a Smoker

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

  • 700-749 Credit Score

  • Guests at home

Home Insurance Rate of $3270/10 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $185,000

2 Beds, 2 Bath 940 sqft Vacation Property Constructed In 1971 with Stone Flooring, Metal Roof, Piers Foundation, Brick siding, Metal Frame Construction. Home Features Include Fire Extinguisher, Swimming Pool, Copper Water Pipes, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

32 Years old Divorced Male who has a Full Time Job with household income of $25-50,000 and has No Pets and is a Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $1520/6 months for $175000-$200000 Coverage
Policy Holder Home Details :

Home Value : $180,000

3 Beds, 3 Baths 1300 sqft Rental Property Constructed In 2010 with Linoleum, Wood Shake Roof, Slab Foundation, Wood siding, Stucco Construction. Home Features Include Swimming Pool, Fireplace, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

41 Years old Single Female who has a Full Time Job with household income of $25-50,000 and has More than 3 Pets at home and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • Up to 499 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $5450/9 months for $250,000-$300,000 Coverage
Policy Holder Home Details :

Home Value : $250,000

1 Bed, 1 Bath 549 sqft Primary Residence Constructed In 1961 with Hardwood Flooring, Metal Roof, Piers Foundation, Fiber-Cement Siding, Stucco Construction. Home Features Include Fireplace, Fire Extinguisher, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

58 Years old Married Female who has a Part Time Job with household income of less than $25,000 and has 3 Pets and is a Smoker

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

  • 700-749 Credit Score

  • Seniors staying at home

Miami Beach, FL Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
33109 $1,000,001 $1,750

Miami Beach Rates & Quotes Analysis:

Miami Beach Area Estimated House Insurance
1st Rivo Alto Ter, 92nd St, East Dr, Bay Ter, 178th Dr, 87th St, 177th Dr, N Coconut Ln, Indian Creek Island Rd, 102nd St$1,227
4th St, E 3rd Ct, N America Way, 2nd Dilido Ter, Venetian Dilido Way, 83rd St, Ocean Ter, 26th St, Normandy Dr, 80th St$1,436
7th St, Park Ave, 100th St, 19th St, Shelter Ave, 14th St, Biarritz Dr, Irving Ave, Gary Ave, Trouville Esplanade$1,185
Coquina Dr, Bal Cross Dr, Allison Rd, 8th Ter, 81st St, 79th St, 191st St, 14th Ter, W 1st Ct, 2nd Rivo Alto Ter$1,480
West Dr, Lincoln Ln N, Galleon St, Marseille Dr, 4th Dilido Ter, 96th St, Camden Ct, 4th San Marino Ter, 3rd Dilido Ter, 20th St$1,403

Insurance rates are influenced by a number of factors including:

  • Year Built: 20,040 Homes (19% of total) built between 1970 to 1979 in Miami Beach are paying home insurance between $2,053-$2,072 and differs from Surfside (+$130), Indian Creek (+$651), Bal Harbour (+$271), North Bay Village (-$123) and Bay Harbor Islands (-$60).
  • Bedrooms: 38,277 1 bedroom homes (44% of total homes ) in Miami Beach are paying about $697. Areas near to Miami Beach such as Surfside, Bal Harbour, Miami Shores are costlier by $44, $92, $14 respectively whereas North Bay Village and Bay Harbor Islands are more economical by $42, $8 respectively for similar homes.
  • Auto Insurance Bundling: 1,957 Households (7% of all households) in Miami Beach have 3 or more vehicles available and when it is bundled with home insurance you can save $316. Discounts for similar bundling in close by locations such as Surfside, Indian Creek, North Bay Village come to $336, $416, $297 respectively.
  • Senior Discounts: 14,917 seniors (more than 55 years) occupied housing units (53% of total) in Miami Beach get discounts between $188 to $191 in contrast with Surfside ($201), Indian Creek ($250), North Bay Village ($178).
  • New Homes discounts: New homes such as the 38,858 homes built between 2000 to 2009 in Miami Beach can save $253 and differs from Surfside ($269), Indian Creek ($333), North Bay Village ($238).

Miami Beach Homeowners insurance Facts

  • Miami Beach, FL has 27,848 owner occupied houses which is 43.9% of all units whereas Surfside, Indian Creek and North Bay Village have 67.53%, 95.45% and 40.78% respectively.
  • Miami Beach, FL homeowners yearly insurance price at $1,266 is 0.39% of the typical house value of $327,800 which is in contrast with 0.29% in Surfside, 0.17% at Indian Creek & 0.6% in North Bay Village.
  • Homeowners in Miami Beach, FL pay 7.23% of their income ($15,000 to $19,999) in insurance whereas homeowners in Surfside, North Bay Village and Bay Harbor Islands pay 7.69%, 6.8% and 7.02% respectively.
  • Miami Beach, FL’s insurance is 4.4% of monthly housing costs of $2,410/month, for owners with a mortgage compared to 3.79% in Surfside, 4.56% at North Bay Village & 4.0% in Bay Harbor Islands. But, for households without a mortgage, insurance is 11.1% of costs ($954 in Miami Beach, FL) in contrast with 11.61% in Surfside, 13.6% at North Bay Village & 13.06% in Bay Harbor Islands.

Miami Beach, FL Home Values & Insurance rates

For example, insurance for 244 Homes (1.0% of total homes ) valued between $80,000 to $89,999 in Miami Beach, FL is about $316. Rates in nearby areas in such as Miami Shores, Pinecrest, Kendall-Palmetto Bay are cheaper by $32, $138, $20 respectively while North Bay Village and Biscayne Park are costlier by $183 and $23 respectively for similar homes.

Miami Beach, FL Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 492 2.0% $88
$60,000 to $69,999 313 1.0% $240
$70,000 to $79,999 268 1.0% $278
$80,000 to $89,999 244 1.0% $316
$90,000 to $99,999 424 2.0% $354
$100,000 to $124,999 1,127 6.0% $417
$125,000 to $149,999 1,014 6.0% $519
$150,000 to $174,999 2,390 14.0% $620
$175,000 to $199,999 1,392 8.0% $721
$200,000 to $249,999 2,674 16.0% $860
$250,000 to $299,999 2,509 15.0% $1063
$300,000 to $399,999 3,489 21.0% $1341

Renters Insurance in Miami Beach

  • Average Renters Insurance in Miami Beach :  $46($3/month)

  • Median Gross Rent in Miami Beach :  $1,151

  • Miami Beach Renters Insurance to Median Rent Ratio:  0.26%

  • Renter occupied housing units in Miami Beach :  35,532

Miami Beach Renters Insurance as a Percentage of Rent

Miami Beach Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 1,055 3.0% $311
$200 to $299 1,034 3.0% $761
$300 to $499 914 2.0% $1211
$500 to $749 2,068 6.0% $1886
$750 to $999 7,753 22.0% $2636
$1,000 to $1,499 12,550 36.0% $3761
$1,500 or more 8,745 25.0% $5411

Rent Affordability in Miami Beach:

Approximately 50.0% (17,889) of households are spending more than 35% of their income on gross rent in Miami Beach

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 3,216 9.0%
15.0 to 19.9 percent 2,849 8.0%
20.0 to 24.9 percent 3,962 11.0%
25.0 to 29.9 percent 4,314 12.0%
30.0 to 34.9 percent 3,302 9.0%
35.0 percent or more 17,889 50.0%

Miami Beach Renters Insurance Discounts:

Miami Beach Renters Insurance Discounts by Number of Vehicles in Renter Occupied Housing Units

Number of Vehicles in Miami Beach, FL Number of Housing Units % of Total Renters Insurance Insurance Savings by Bundling Auto Insurance
1 vehicle available 18,268 51.0% $4.6
2 vehicles available 6,254 17.0% $6.9
3 or more vehicles available 732 2.0% $9.2

Miami Beach Senior Citizen Discounts:

Age Senior Occupied Housing Units % of Total Discount offered
55 to 59 years 2,046 5.0% $115
60 to 64 years 1,099 3.0% $92
65 to 74 years 2,493 7.0% $74
75 years and over 3,278 9.0% $57

Protective device discount in Miami Beach Up to :  $6

Claims-free discount in Miami Beach Up to :  $9