Miami Beach ,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 Miami Beach, 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 Miami Beach, FL is $2133. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Miami Beach, FL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Miami Beach, FL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $853 |
| $200,000 | $1,450 |
| $300,000 | $1,792 |
| $400,000 | $2,730 |
| $500,000 | $3,434 |
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 Miami Beach, FL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,187 |
| $1000 Deductible | $1,956 |
| $1500 Deductible | $1,845 |
| $2500 Deductible | $1,664 |
| $5000 Deductible | $1,408 |
| Home Insurance Company Near Miami Beach, FL | Homeowners Insurance Agency Near Miami Beach, FL | Address |
|---|---|---|
| Travelers | Bateman Gordon & Sands Inc | 3050 N Federal Hwy Ste 100 Pompano Beach, Pompano Beach, FL, 33064 |
| Travelers | Imperial Insurance Llc | 924 EAST SAMPLE RD, POMPANO BEACH, FL, 33064 |
| Travelers | M & L Insurance Agency Inc | 2855 UNIVERSITY DR 110, CORAL SPRINGS, FL, 33065 |
| State Farm | Michael Bennardo | 9779 W Sample Rd, Coral Springs, FL, 33065-4003 |
| Travelers | Nsi Insurance Group | 8181 NW 154TH STE 230, MIAMI LAKES, FL, 33016 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Surfside town, Florida | $168 | $224 | $336 |
| Indian Creek village, Florida | $208 | $277 | $416 |
| North Bay Village city, Florida | $149 | $198 | $297 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Miami Beach, FL | 4.4% | 11.1% |
| Surfside | 3.79% | 11.61% |
| North Bay Village | 4.56% | 13.6% |
| Bay Harbor Islands | 4.0% | 13.06% |
| 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 |
| Streets in Miami Beach Area | Homeowners Insurance Cost |
|---|---|
| 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 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Miami Beach | $188 to $191 |
| Surfside | $201 |
| Indian Creek | $250 |
| North Bay Village | $178 |
| Home value ($) | Age of home (years) | Wind mitigation | Company | Average homeowners insurance premium ($) |
|---|---|---|---|---|
| 150,000 | 27 | NO | Citizens Property Insurance | $5,317 |
| 150,000 | 27 | YES | American Integrity Insurance | $2,853 |
| 150,000 | 27 | YES | Asi Preferred Insurance | $4,258 |
| 150,000 | 27 | YES | Liberty Mutual Fire Insurance | $2,430 |
| 300,000 | 12 | NA | Security First Insurance | $4,879 |
| 300,000 | 12 | NA | United Property & Casualty Insurance | $5,007 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,800 | $4,800 |
| Yearly Miami Beach Homeowner Insurance Premium Example | $7,100 | $6,100 |
| Out of Pocket Expense During Claim | $1,800 | $4,800 |
| Total Home Insurance Premium for 4 years + Out of Pocket Expense for Claim | $30,200 | $29,200 |
| Net Savings to Miami Beach Home Owner from High Deductible Plan | $1,000 | |
| Scenario | Miami Beach, FL Home Replacement Value MORE than Home Value | Miami Beach, FL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $769,500 | $558,500 |
| Insurance Premium based on Replacement Value | $14,300 | $10,400 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $62,000 | Risk Exposure from Under Insuring Coverage is $149,000 |
| Premium Impact | Insurance cheaper by $2,750/year | Insurance costlier by $1,150/year |
| Insurance Company | GEICO Insurance | Liberty Mutual | Travelers |
| Monthly Premium | 288 | 399 | 364 |
| Year Built | 1973 | 1962 | 2009 |
| Home Details | 2 Beds, 1 Baths | 3 Beds, 1 Baths | 2 Beds, 1 Baths |
| Coverage Amount | $200000-$250000 | $300000-$350000 | $250000-$300000 |
| Deductible | $1000-$2500 Deductible | $5000 to $10,000 Deductible | $2500-$5000 Deductible |