Melbourne ,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 Melbourne, 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 Melbourne, FL is $1969. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Melbourne, FL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Melbourne, FL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $788 |
| $200,000 | $1,339 |
| $300,000 | $1,654 |
| $400,000 | $2,520 |
| $500,000 | $3,170 |
Home insurance costs in Melbourne 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 |
|---|---|
| 032940 | $1,944 |
| 32935 | $1,828 |
| 32901 | $1,822 |
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 Melbourne, FL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,019 |
| $1000 Deductible | $1,806 |
| $1500 Deductible | $1,703 |
| $2500 Deductible | $1,536 |
| $5000 Deductible | $1,300 |
| Home Insurance Company Near Melbourne, FL | Homeowners Insurance Agency Near Melbourne, FL | Address |
|---|---|---|
| NA | Buckingham Wheeler Agency, Inc. | 2046 14Th Ave Vero Beach, Vero Beach, FL, 32960 |
| NA | Cobia Insurance Agency | 8265 N Wickham Road Suite C , Melbourne, FL, 32940 |
| Travelers | Brightway Insurance Inc | 4320 S BABCOCK ST STE 102, MELBOURNE, FL, 32901 |
| Liberty Mutual | Michael Barrios | 13526 Village Park Drive Suite 222, Orlando, FL, 32837 |
| Travelers | Wayne W Eden Agency Inc | 3240 DIXIE HWY NE, PALM BAY, FL, 32905 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Melbourne Village town, Florida | $180 | $240 | $360 |
| June Park CDP, Florida | $176 | $234 | $351 |
| Indian Harbour Beach city, Florida | $180 | $240 | $360 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Melbourne, FL | 6.9% | 22.9% |
| Melbourne Village | 6.82% | 22.32% |
| June Park | 6.74% | 23.31% |
| Indian Harbour Beach | 5.37% | 19.07% |
| 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 |
| Streets in Melbourne Area | Homeowners Insurance Cost |
|---|---|
| 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 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Melbourne | $174 to $176 |
| Melbourne Village | $180 |
| June Park | $175 |
| Palm Shores | $174 |
| Home value ($) | Age of home (years) | Wind mitigation | Company | Average homeowners insurance premium ($) |
|---|---|---|---|---|
| 150,000 | 27 | NO | Citizens Property Insurance | $2,844 |
| 150,000 | 27 | NO | Security First Insurance | $2,252 |
| 150,000 | 27 | NO | Southern Oak Insurance | $2,931 |
| 150,000 | 27 | NO | Tower Hill Prime Insurance | $2,386 |
| 150,000 | 27 | NO | Tower Hill Signature Insurance | $2,511 |
| 150,000 | 27 | YES | Florida Peninsula Insurance | $1,327 |
| 150,000 | 27 | YES | Universal Insurance | $1,470 |
| 300,000 | 12 | NA | Asi Preferred Insurance | $2,073 |
| 300,000 | 12 | NA | Federated National Insurance | $2,190 |
| 300,000 | 12 | NA | Tower Hill Signature Insurance | $2,294 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,400 | $4,400 |
| Yearly Melbourne Homeowner Insurance Premium Example | $5,900 | $4,900 |
| Out of Pocket Expense During Claim | $1,400 | $4,400 |
| Total Home Insurance Premium for 4 years + Out of Pocket Expense for Claim | $25,000 | $24,000 |
| Net Savings to Melbourne Home Owner from High Deductible Plan | $1,000 | |
| Scenario | Melbourne, FL Home Replacement Value MORE than Home Value | Melbourne, FL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $113,500 | $88,500 |
| Insurance Premium based on Replacement Value | $2,425 | $1,875 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $13,000 | Risk Exposure from Under Insuring Coverage is $12,000 |
| Premium Impact | Insurance cheaper by $275/year | Insurance costlier by $275/year |
| Insurance Company | Travelers | State Farm | Liberty Mutual |
| Monthly Premium | 192 | 261 | 77 |
| Year Built | 2002 | 1996 | 2010 |
| Home Details | 3 Beds, 2 Baths | 5 Beds, 1 Baths | 2 Beds, 1 Baths |
| Coverage Amount | $100000-$125000 | $250000-$300000 | $50000-$75000 |
| Deductible | $500- $1000 Deductible | $2500-$5000 Deductible | $2500-$5000 Deductible |