Homestead ,FL Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Homestead, FL homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Homestead, FL is $1990. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Homestead, FL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Homestead, FL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $796 |
| $200,000 | $1,353 |
| $300,000 | $1,672 |
| $400,000 | $2,547 |
| $500,000 | $3,204 |
Home insurance costs in Homestead can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 033031 | $1,999 |
| 33030 | $1,895 |
| 33033 | $1,897 |
| 33035 | $1,845 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Homestead, FL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,040 |
| $1000 Deductible | $1,825 |
| $1500 Deductible | $1,721 |
| $2500 Deductible | $1,552 |
| $5000 Deductible | $1,313 |
| Home Insurance Company Near Homestead, FL | Homeowners Insurance Agency Near Homestead, FL | Address |
|---|---|---|
| NA | We Insure Florida, Inc. | 1327 Ne 125Th St , North Miami, FL, 33161 |
| State Farm | Enette Henderson | 152 NE 167th St Ste 405, Miami, FL, 33162-3400 |
| State Farm | Michele Belizaire | 8600 NE 2nd Ave, El Portal, FL, 33138-3004 |
| Allstate | Monica Pavlova | 273 NW 82nd Ave, Miami, FL, 33126 |
| State Farm | Ricardo Arbes | 18173 Biscayne Blvd, Aventura, FL, 33160-2535 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| North Key Largo CDP, Florida | $250 | $333 | $500 |
| Florida City city, Florida | $175 | $233 | $350 |
| Leisure City CDP, Florida | $170 | $227 | $341 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Homestead, FL | 5.8% | 20.9% |
| North Key Largo | 4.98% | 13.88% |
| Florida City | 7.51% | 20.04% |
| Leisure City | 6.68% | 24.78% |
| Homestead Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 453 | 3.0% | $340 |
| $200 to $299 | 512 | 3.0% | $790 |
| $300 to $499 | 732 | 4.0% | $1240 |
| $500 to $749 | 1,842 | 12.0% | $1915 |
| $750 to $999 | 3,761 | 25.0% | $2665 |
| $1,000 to $1,499 | 5,504 | 37.0% | $3790 |
| $1,500 or more | 2,051 | 13.0% | $5440 |
| Streets in Homestead Area | Homeowners Insurance Cost |
|---|---|
| Adams Ave, SW 381 Ter, SW 196th Ave, SW 380th St, N Audubon Dr, NE 27th Ter, SW 192nd Pl, SW 291st Ter, SE 30th Ter, SW 292nd Ter | $1,139 |
| SE 21st Ct, SE 18th Ter, SW 159th Dr, NE 36th Ter, SW 158th Rd, NE 3rd St, NE 41st Cir, S Independence Dr, SE 20th Rd, SW 318th Ter | $1,124 |
| NW 14th Ln, SE 11th Pl, SW 354th Ter, SW 350th St, S Audubon Dr, N Fieldlark Ln, Pelican Ct, SW 279th St, S Goldeneye Ln, NE 8th St | $1,146 |
| SW 300th Ter, SW 184th Ave, N Anhinga Ln, SE 23rd Dr, SW 3rd Ter, SE 19th St, SE 28th Ter, NE 5th Dr, Tennessee Rd, SW 313th St | $1,128 |
| SW 1st Ct, SW 195th Ct, NE 1st Rd, NE 27th Ave, SW 290th St, SE 28th Ave, NE 17th St, SE 16th St, SW 298th St, NW 8th Pl | $1,234 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Homestead | $173 to $176 |
| North Key Largo | $250 |
| Florida City | $175 |
| Leisure City | $170 |
| Home value ($) | Age of home (years) | Wind mitigation | Company | Average homeowners insurance premium ($) |
|---|---|---|---|---|
| 150,000 | 27 | NO | Citizens Property Insurance | $5,317 |
| 150,000 | 27 | NO | Federated National Insurance | $7,028 |
| 150,000 | 27 | NO | Security First Insurance | $5,733 |
| 150,000 | 27 | NO | St. Johns Insurance | $7,200 |
| 150,000 | 27 | YES | Tower Hill Prime Insurance | $2,704 |
| 300,000 | 12 | NA | Florida Peninsula Insurance | $6,328 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,500 | $2,500 |
| Yearly Homestead Homeowner Insurance Premium Example | $8,400 | $7,900 |
| Out of Pocket Expense During Claim | $1,500 | $2,500 |
| Total Home Insurance Premium for 5 years + Out of Pocket Expense for Claim | $43,500 | $42,000 |
| Net Savings to Homestead Home Owner from High Deductible Plan | $1,500 | |
| Scenario | Homestead, FL Home Replacement Value MORE than Home Value | Homestead, FL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $74,000 | $52,000 |
| Insurance Premium based on Replacement Value | $1,725 | $1,225 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $10,500 | Risk Exposure from Under Insuring Coverage is $11,500 |
| Premium Impact | Insurance cheaper by $275/year | Insurance costlier by $225/year |
| Insurance Company | Liberty Mutual | State Farm | Chubb Group of Insurance |
| Monthly Premium | 177 | 142 | 578 |
| Year Built | 2005 | 1965 | 1993 |
| Home Details | 3 Beds, 2 Baths | 4 Beds, 3 Baths | 5 Beds, 4 Baths |
| Coverage Amount | $125000-$150000 | $175000-$200000 | $400000-$500000 |
| Deductible | $1000-$2500 Deductible | > $10,000 Deductible | $500- $1000 Deductible |