Palm Bay Insurance Rates:

Palm Bay, FL home insurance is approximately $970 to $1,316, about $80-$109/month. Our in depth guide indicates shoppers can save as much as $457 by getting multiple quotes

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Palm Bay, Florida Homeowners share details on the cheapest & most trustworthy home insurance companies for you to compare & get great deals.

Palm Bay Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Allstate
Home Insurance Rate of $3300/9 months for $250000-$300000 Coverage
Policy Holder Home Details :

Home Value : $295,000

5 Beds, 5 Bath 3980 sqft Primary Residence Constructed In 2010 with Linoleum, Composition Roof, Slab Foundation, Vinyl siding, Metal Frame Construction. Home Features Include Central Air Conditioning, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

52 Years old Single Female who has a Full Time Job with household income of less than $25,000 and has No Pets and is a Smoker

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

  • 600-649 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $690/2 months for $250000-$300000 Coverage
Policy Holder Home Details :

Home Value : $320,000

5 Beds, 5 Baths 4040 sqft Seasonal Residence Constructed In 1990 with Carpet over wood flooring, Metal Roof, Chainwall Foundation, Fiber-Cement Siding, Brick Frame. Home Features Include Swimming Pool, Indoor Sprinklers, Central Air Conditioning, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

33 Years old Married Male who is a Freelancer with household income of less than $25,000 and has 2 Pets and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 550-599 Credit Score

  • Seniors staying at home

Home Insurance Rate of $3220/12 months for $150000-$175000 Coverage
Policy Holder Home Details :

Home Value : $205,000

4 Beds, 4 Bath 3170 sqft Primary Residence Constructed In 1998 with Hardwood Flooring, Shingles Roof, Slab Foundation, Stone Siding, Stucco Construction. Home Features Include Copper Water Pipes, Smoke Alarm, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

39 Years old Single Male who has a Part Time Job with household income of less than $25,000 and has No Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 800-850 Credit Score

  • Guests at home

Home Insurance Rate of $480/2 months for $125000-$150000 Coverage
Policy Holder Home Details :

Home Value : $155,000

4 Beds, 4 Bath 2480 sqft Seasonal Residence Constructed In 1982 with Stone Flooring, Composition Roof, Chainwall Foundation, Brick siding, Brick Frame. Home Features Include Copper Water Pipes, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

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

Additional Details :
  • 50-75% Mortgage Paid off

  • 550-599 Credit Score

Home Insurance Rate of $210/1 month for $150000-$175000 Coverage
Policy Holder Home Details :

Home Value : $205,000

4 Beds, 4 Baths 2850 sqft Vacation Property Constructed In 2007 with Hardwood Flooring, Tile Roof, Crawl Space Foundation, Wood siding, Stucco Construction. Home Features Include Fire Extinguisher, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

57 Years old Single Female who is Unemployed and has 1 Pet and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 550-599 Credit Score

  • Seniors staying at home

Home Insurance Rate of $1280/6 months for $150000-$175000 Coverage
Policy Holder Home Details :

Home Value : $180,000

5 Beds, 5 Bath 2510 sqft Primary Residence Constructed In 2002 with Ceramic Tile Flooring, Wood Shake Roof, Slab Foundation, Fiber-Cement Siding, Metal Frame Construction. Home Features Include Central Air Conditioning, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

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

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

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $5390/12 months for $250000-$300000 Coverage
Policy Holder Home Details :

Home Value : $245,000

4 Beds, 4 Baths 3090 sqft Vacation Property Constructed In 2009 with Linoleum, Tile Roof, Piers Foundation, Stone Siding, Metal Frame Construction. Home Features Include Central Air Conditioning, Indoor Sprinklers, Fire Extinguisher, Deadbolt Locks, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

69 Years old Married Male who is Retired with household income of less than $25,000 and has 1 Pet and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 650-699 Credit Score

  • Seniors staying at home

  • Guests at home

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

Home Value : $265,000

4 Beds, 4 Baths 3354 sqft Primary Residence Constructed In 1988 with Carpet over wood flooring, Slate Shingles Roof, Chainwall Foundation, Stone Siding, Wood Frame. Home Features Include Deadbolt Locks, Indoor Sprinklers, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

48 Years old Divorced Female who is Unemployed and has 2 Pets and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • Up to 499 Credit Score

  • Seniors staying at home

  • Guests at home

Palm Bay, FL Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
32905 $95,400 $1,140
32909 $138,500 $1,160
32908 $126,900 $1,150
32907 $124,100 $1,150

Palm Bay Rates & Quotes Analysis:

Palm Bay Area Estimated House Insurance
Bridgeport Ave NW, la Coco St SW, San Antonio Ave SW, Gould Ave SW, Hardin Ln NE, Amberg Ave NW, Valcourt St NW, Dresden St NW, Frankford Ave NW, Falk Ter SE$1,150
Belvedere Rd NW, Bali St SE, Atz Rd, O Hara Ave, Sexton Rd SW, Fallon Blvd NE, Cooke Ave, Emerson Dr NE, Waco Blvd SE, Washington St$1,146
Kahler Ln, Moss Rose Ave, Savannah St SE, Kent St NE, Fort Pierce St SW, Willow Dr, Ipswich St NW, Pelican Dr NE, Corinne Ave SE, Walker St SE$1,230
Sanford St SW, Ida Ct NW, Frantz Ave, Howell Ln, Gillott St NW, Ashboro Cir SE, Tilden Rd SE, Joshua Dr NE, Teak Rd SE, Havre St NW$1,152
Antigua St NE, Mascot St NE, Hamilton Ave SW, Gera Ave NW, Mermaid Ave SE, Kosuth Rd NE, Dwyer Pl NE, Higgs Ave NW, Gagman St NW, Mercury Ave SE$1,148
Cleaves St SE, Berry Ct, Hunter Ln, Nord Ct NE, Badger Dr NE, Gimlet St NW, Pemberton Trl, Sand Gulley Dr, Weschester Rd SE, Parade St SE$1,156
Sheafe Ave NE, Quimper Ave SE, Swanna Dr, Westport St SE, Montrose St SE, Reef Pl, Roger Ave NW, Micco St SW, Waverly Ave SE, Soria Ave SW$1,148
Emerson Dr SE, Indian River Dr NE, Cogan Dr SE, Jarvis St NW, Saladino St SE, Hield Rd NW, Fort St NW, Gadsden Ave NW, Alvarado Ave SE, Snowbird Ave NW$1,138
Barker St NE, Palm Place Dr NE, Gambo St SW, Zaminder St NW, Londale Ave, Forgal Ave NE, Toy St SE, Fondulac St, Smith Ln, Gibbs Rd SW$1,150
Haleybury St SW, W Malabar Rd, Old Rd SW, Gordon Rd NW, Trapp Ave SE, Labra Rd, Epping Ct NE, Tucson Rd SW, Norbert Rd NE, Adventure Ave NW$1,151

Insurance rates are influenced by a number of factors including:

  • Year Built: 16,535 Homes (37% of total homes ) built between 1980 to 1989 in Palm Bay are paying home insurance between $1,707-$1,724. Places close to Palm Bay, FL such as West Melbourne, Grant-Valkaria, Melbourne Village are more expensive by $42, $127, $84 respectively while Malabar and Micco are cheaper by $18 and $45 respectively for similar homes.
  • Bedrooms: 27,490 3 bedrooms homes (62% of total homes ) in Palm Bay are paying about $847. Areas near to Palm Bay such as West Melbourne, Grant-Valkaria, Melbourne Village are costlier by $21, $51, $41 respectively whereas Micco and Fellsmere are more economical by $11, $10 respectively for similar homes.
  • Auto Insurance Bundling: 5,142 Households (18% of all households) in Palm Bay have 3 or more vehicles available and when it is bundled with home insurance you can save $286. Discounts for similar bundling in close by locations such as West Melbourne, June Park, Grant-Valkaria come to $293, $293, $307 respectively.
  • Senior Discounts: 14,211 seniors (more than 55 years) occupied housing units (50% of total) in Palm Bay get discounts between $171 to $173. The comparative concessions in proximate regions such as West Melbourne, Grant-Valkaria and Melbourne Village are $175, $184 and $180 respectively.
  • New Homes discounts: New homes such as the 20,527 homes built between 2000 to 2009 in Palm Bay can save $228 and similar new home insurance discounts in nearby towns and cities like West Melbourne, June Park and Grant-Valkaria are $234, $234 and $245 respectively.

Palm Bay Homeowners insurance Facts

  • Palm Bay, FL has 27,899 owner occupied houses which is 75.2% of all units whereas West Melbourne, June Park and Grant-Valkaria have 71.24%, 88.09% and 91.58% respectively.
  • Palm Bay, FL homeowners yearly insurance price at $1,144 is 0.95% of the typical house value of $120,500 which is in contrast with 0.7% in West Melbourne, 0.69% at June Park & 0.46% in Grant-Valkaria.
  • Homeowners in Palm Bay, FL pay 1.53% of their income ($75,000 or more) in insurance whereas homeowners in West Melbourne, June Park and Grant-Valkaria pay 1.56%, 1.56% and 1.64% respectively.
  • Palm Bay, FL’s insurance is 7.8% of monthly housing costs of $1,224/month, for owners with a mortgage compared to 6.42% in West Melbourne, 6.74% at June Park & 6.3% in Grant-Valkaria. But, for households without a mortgage, insurance is 26.9% of costs ($354 in Palm Bay, FL) in contrast with 22.0% in West Melbourne, 23.31% at June Park & 18.42% in Grant-Valkaria.

Palm Bay, FL Home Values & Insurance rates

For example, insurance for 2,153 Homes (7.0% of total homes ) valued between $90,000 to $99,999 in Palm Bay, FL is about $892. Rates in nearby areas in such as West Melbourne, June Park, Grant-Valkaria are cheaper by $236, $236, $462 respectively while Malabar and Micco are costlier by $172 and $600 respectively for similar homes.

Palm Bay, FL Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 1,597 5.0% $228
$50,000 to $59,999 846 3.0% $491
$60,000 to $69,999 1,678 6.0% $606
$70,000 to $79,999 1,856 6.0% $709
$80,000 to $89,999 2,268 8.0% $800
$90,000 to $99,999 2,153 7.0% $892
$100,000 to $124,999 4,332 15.0% $1041
$125,000 to $149,999 3,312 12.0% $1304
$150,000 to $174,999 3,949 14.0% $1532
$175,000 to $199,999 2,185 7.0% $1773
$200,000 to $249,999 1,922 6.0% $2139
$250,000 to $299,999 790 2.0% $2608
$300,000 to $399,999 704 2.0% $3317

Renters Insurance in Palm Bay

  • Average Renters Insurance in Palm Bay :  $178($14/month)

  • Median Gross Rent in Palm Bay :  $949

  • Palm Bay Renters Insurance to Median Rent Ratio:  1.48%

  • Average household size of renter-occupied unit :  2.84

Palm Bay Renters Insurance as a Percentage of Rent

Palm Bay Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
$300 to $499 181 2.0% $1244
$500 to $749 1,490 17.0% $1919
$750 to $999 3,317 38.0% $2669
$1,000 to $1,499 3,086 35.0% $3794
$1,500 or more 521 6.0% $5444

Rent Affordability in Palm Bay:

Approximately 56.0% (5,228) of households are spending more than 35% of their income on gross rent in Palm Bay

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 450 4.0%
15.0 to 19.9 percent 598 6.0%
20.0 to 24.9 percent 1,310 14.0%
25.0 to 29.9 percent 736 8.0%
30.0 to 34.9 percent 863 9.0%
35.0 percent or more 5,228 56.0%

Palm Bay Renters Insurance Discounts:

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

Number of Vehicles in Palm Bay, FL Number of Housing Units % of Total Renters Insurance Insurance Savings by Bundling Auto Insurance
1 vehicle available 4,925 53.0% $17.8
2 vehicles available 2,759 30.0% $26.7
3 or more vehicles available 707 7.0% $35.6

Palm Bay Senior Citizen Discounts:

Age Senior Occupied Housing Units % of Total Discount offered
55 to 59 years 614 6.0% $94
60 to 64 years 355 3.0% $75
65 to 74 years 515 5.0% $61
75 years and over 640 6.0% $47

Protective device discount in Palm Bay Up to :  $26

Claims-free discount in Palm Bay Up to :  $35