Miami Insurance Rates:

Miami, FL home insurance is about $1,020 to $1,383, about $85-$115/month. Our complete research reveals consumers can save as much as $480 by comparing different quotes

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Miami Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Liberty Mutual
Home Insurance Rate of $2160/12 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $225,000

4 Beds, 4 Bath 2240 sqft Vacation Property Constructed In 1979 with Stone Flooring, Shingles Roof, Slab Foundation, Stucco siding, Brick Frame. Home Features Include Fire Extinguisher, Fireplace, Swimming Pool, Central Air Conditioning, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

37 Years old Married Female who is Unemployed with household income of less than $25,000 and has More than 3 Pets at home and is a Smoker

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

  • 600-649 Credit Score

  • Seniors staying at home

Home Insurance Rate of $1070/6 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $215,000

3 Beds, 3 Baths 1700 sqft Seasonal Residence Constructed In 1989 with Ceramic Tile Flooring, Wood Shake Roof, Piers Foundation, Brick siding, Metal Frame Construction. Home Features Include Fire Extinguisher, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

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

Additional Details :
  • 50-75% Mortgage Paid off

  • Up to 499 Credit Score

  • Seniors staying at home

Home Insurance Rate of $3370/12 months for $300000-$350000 Coverage
Policy Holder Home Details :

Home Value : $270,000

3 Beds, 3 Bath 2140 sqft Vacation Property Constructed In 1986 with Linoleum, Membrane Roof, Slab Foundation, Fiber-Cement Siding, Brick Frame. Home Features Include Swimming Pool, Central Air Conditioning, Copper Water Pipes, Fireplace, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

71 Years old Married Male who is Unemployed and has 1 Pet and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

Home Insurance Rate of $940/2 months for $200,000-$250,000 Coverage
Policy Holder Home Details :

Home Value : $320,000

1 Bed, 1 Bath 810 sqft Rental Property Constructed In 1958 with Hardwood Flooring, Asphalt Shingles Roof, Crawl Space Foundation, Stone Siding, Wood Frame. Home Features Include Fireplace, Deadbolt Locks, Fire Extinguisher, Central Air Conditioning, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

66 Years old Divorced Female who is Unemployed with household income of less than $25,000 and has 1 Pet and is a Non-Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

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Miami Rates & Quotes Analysis:

Miami Area Estimated House Insurance
Palermo Ave, Corniche Ave, Labaron Dr, NW 38th Ter, Perugia Ave, NW 62nd Ter, South St, Messina Ave, W Trade Ave, N Waterway Dr$1,230
W Golf Dr, Pan American Dr, NW 137th St, NW 49th Ter, Secoffee St, NE 29th Ct, NE 199th Ln, Riviera Ct, Linden Ln, Plaza St$1,551
NW 51st Pl, Memorial Hwy, Trascoro Ave, Jib Ct, NE 182nd St, NE 50th St, Lamb Ct, NW 120th Ter, Oriole Ave, Bentley Dr$1,228
Santa Maria St, Kiaora Ave, Biscayne Bay Dr, Duval St, NE 98th St, SW 23rd Rd, NW 104th St, NE 90th St, NE 75th St, NE 18th St$1,128
NE 59th Ter, NE 13th Pl, E Fairview St, NE 12th Pl, NE 95th St, NE 9 Ct, NE 201st St, Leafy Way, Cantoria Ave, Hibiscus St$1,474
Alexandria Dr, Hernando St, N Bay Homes Dr, Roderigo Ave, SW 70th Ct, NE 85th St, NE 139th Ter, E 34th St, NW 39th Ter, NE 91st St$1,221
NE 38th St, Ludlam Dr, South Ct, Glen Royal Pkwy, NW 30th Street Rd, Monegro St, Miami Dr, NE 152nd St, NE 58th St, Shore Dr W$1,461
Sansovino Ave, Elizabeth St, NE 21st Pl, Sans Souci Blvd, NE 101st St, Alhambra Ct, NE 142nd St, NE 38th Ct, NE 153rd St, Orange St$1,283
NW 64th Ct, NE 18th St, NE 210th St, NE 157th Ter, NE 212th St, Mokena Dr, NW 92nd Ter, W 34th Street Rd, SW 21st Rd, Curtiss Dr$1,150
Fisherman St, NW 105th St, Sesame St, Vista Ct, Gibson Dr, NW 110th Ter, SW 77th Pl, N Melrose Dr, NW 145th Ter, NE 35th Ter$1,236

Insurance rates are influenced by a number of factors including:

  • Year Built: 65,764 Homes (16% of total) built between 1970 to 1979 in Miami are paying home insurance between $1,949-$1,967 in contrast with El Portal (+$54), Miami Shores (+$146), Miami Springs (+$85), Brownsville (-$99) and West Little River (-$66).
  • Bedrooms: 147,137 2 bedrooms homes (39% of total homes ) in Miami are paying about $697. Areas near to Miami such as El Portal, Miami Shores, Miami Springs are costlier by $20, $53, $31 respectively whereas Brownsville and West Little River are more economical by $35, $23 respectively for similar homes.
  • Auto Insurance Bundling: 23,277 Households (15% of all households) in Miami have 3 or more vehicles available and when it is bundled with home insurance you can save $300 and differs from Brownsville ($285), Gladeview ($285), West Little River ($290).
  • Senior Discounts: 81,868 seniors (more than 55 years) occupied housing units (53% of total) in Miami get discounts between $180 to $182. The comparative concessions in proximate regions such as Brownsville, West Little River and El Portal are $171, $174 and $185 respectively.
  • New Homes discounts: New homes such as the 161,893 homes built between 2000 to 2009 in Miami can save $240 and differs from Brownsville ($228), Gladeview ($228), West Little River ($232).

Miami Homeowners insurance Facts

  • Miami, FL has 152,482 owner occupied houses which is 47.7% of all units whereas Brownsville, Gladeview and West Little River have 46.07%, 43.09% and 63.63% respectively.
  • Miami, FL homeowners yearly insurance price at $1,201 is 0.55% of the typical house value of $217,600 which is in contrast with 0.99% in Brownsville, 0.99% at Gladeview & 0.77% in West Little River.
  • Homeowners in Miami, FL pay 6.86% of their income ($15,000 to $19,999) in insurance whereas homeowners in Brownsville, Gladeview and West Little River pay 6.51%, 6.51% and 6.63% respectively.
  • Miami, FL’s insurance is 5.5% of monthly housing costs of $1,810/month, for owners with a mortgage compared to 7.73% in Brownsville, 8.11% at Gladeview & 6.87% in West Little River. But, for households without a mortgage, insurance is 17.6% of costs ($568 in Miami, FL) in contrast with 23.46% in Brownsville, 18.77% at Gladeview & 26.01% in West Little River.

Miami, FL Home Values & Insurance rates

For example, insurance for 9,856 Homes (8.0% of total homes ) valued between $175,000 to $199,999 in Miami, FL is about $1,032. Rates in nearby areas in such as El Portal, Miami Shores, Miami Springs are cheaper by $193, $386, $268 respectively while Brownsville and Gladeview are costlier by $826 and $814 respectively for similar homes.

Miami, FL Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 7,079 5.0% $132
$50,000 to $59,999 2,460 2.0% $288
$60,000 to $69,999 3,327 2.0% $348
$70,000 to $79,999 4,744 3.0% $408
$80,000 to $89,999 5,083 4.0% $468
$90,000 to $99,999 3,814 3.0% $516
$100,000 to $124,999 11,542 9.0% $600
$125,000 to $149,999 7,609 6.0% $756
$150,000 to $174,999 14,152 11.0% $888
$175,000 to $199,999 9,856 8.0% $1032
$200,000 to $249,999 18,719 15.0% $1237
$250,000 to $299,999 14,795 12.0% $1513
$300,000 to $399,999 18,927 15.0% $1921

Renters Insurance in Miami

  • Average Renters Insurance in Miami :  $116($9/month)

  • Median Gross Rent in Miami :  $965

  • Miami Renters Insurance to Median Rent Ratio:  0.93%

  • Average household size of renter-occupied unit :  2.63

Miami Renters Insurance as a Percentage of Rent

Miami Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 5,088 3.0% $329
$200 to $299 6,541 4.0% $779
$300 to $499 7,480 4.0% $1229
$500 to $749 24,981 15.0% $1904
$750 to $999 43,126 26.0% $2654
$1,000 to $1,499 48,699 30.0% $3779
$1,500 or more 26,243 16.0% $5429

Rent Affordability in Miami:

Approximately 59.0% (99,545) of households are spending more than 35% of their income on gross rent in Miami

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 9,173 5.0%
15.0 to 19.9 percent 11,872 7.0%
20.0 to 24.9 percent 15,315 9.0%
25.0 to 29.9 percent 17,653 10.0%
30.0 to 34.9 percent 13,801 8.0%
35.0 percent or more 99,545 59.0%

Miami Renters Insurance Discounts:

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

Number of Vehicles in Miami, FL Number of Housing Units % of Total Renters Insurance Insurance Savings by Bundling Auto Insurance
1 vehicle available 84,211 50.0% $11.6
2 vehicles available 36,634 21.0% $17.4
3 or more vehicles available 7,414 4.0% $23.2

Protective device discount in Miami Up to :  $17

Claims-free discount in Miami Up to :  $23

Miami, FL Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
33158 $524,200 $1,440
33140 $438,900 $1,350
33131 $363,200 $1,330
33129 $345,400 $1,290
33176 $324,800 $1,290
33178 $321,100 $1,290
33155 $278,600 $1,270
33182 $261,600 $1,260
33132 $260,700 $1,230
33194 $257,100 $1,250
33196 $253,900 $1,240
33173 $252,600 $1,230
33137 $248,400 $1,240
33144 $232,700 $1,220
33186 $230,100 $1,220
33193 $221,200 $1,230
33184 $212,400 $1,210
33135 $208,800 $1,220
33174 $203,000 $1,200
33125 $198,000 $1,190
33183 $180,200 $1,180
33169 $174,900 $1,180
33130 $168,700 $1,190
33126 $162,200 $1,180
33168 $154,600 $1,170
33127 $153,500 $1,170
33150 $149,700 $1,180
33172 $149,000 $1,170
33167 $146,600 $1,160
33147 $144,000 $1,170
33142 $137,300 $1,170
33179 $135,200 $1,170
33136 $122,700 $1,160
33128 $101,000 $1,140