Miami ,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, 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, FL is $2043. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Miami, FL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Miami, FL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $817 |
| $200,000 | $1,389 |
| $300,000 | $1,716 |
| $400,000 | $2,615 |
| $500,000 | $3,289 |
Home insurance costs in Miami 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 |
|---|---|
| 033158 | $2,231 |
| 33140 | $2,211 |
| 33131 | $2,060 |
| 33129 | $2,035 |
| 33176 | $2,038 |
| 33178 | $2,004 |
| 33155 | $2,002 |
| 33182 | $1,969 |
| 33132 | $2,071 |
| 33194 | $1,994 |
| 33196 | $1,974 |
| 33173 | $1,957 |
| 33137 | $1,998 |
| 33144 | $1,948 |
| 33186 | $1,946 |
| 33193 | $1,934 |
| 33184 | $1,920 |
| 33135 | $1,936 |
| 33174 | $1,912 |
| 33125 | $1,909 |
| 33183 | $1,917 |
| 33169 | $1,891 |
| 33130 | $1,971 |
| 33126 | $1,888 |
| 33168 | $1,876 |
| 33127 | $1,916 |
| 33150 | $1,899 |
| 33172 | $1,837 |
| 33167 | $1,872 |
| 33147 | $1,836 |
| 33142 | $1,873 |
| 33179 | $1,836 |
| 33136 | $1,909 |
| 33128 | $1,892 |
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, FL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,095 |
| $1000 Deductible | $1,873 |
| $1500 Deductible | $1,767 |
| $2500 Deductible | $1,594 |
| $5000 Deductible | $1,348 |
| Home Insurance Company Near Miami, FL | Homeowners Insurance Agency Near Miami, FL | Address |
|---|---|---|
| NA | Isure Insurance Brokers | 8700 West Flagler Street Suite 270 , Miami, FL, 33174 |
| NA | Ika Financial Llc Dba Global Green Insurance Agency | 6840 Sw 40Th Street #202B , Miami, FL, 33155 |
| Allstate | Jonathan Clavijo | 9700 Stirling Rd Ste 102, Hollywood, FL, 33024 |
| Travelers | Setnor Byer Insurance & Risk | 900 South Pine Island Rd Ste 300, Plantation, FL, 33324 |
| State Farm | Valerie Davis-Bailey | 3180 Commodore Plz, Miami, FL, 33133-5818 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Brownsville CDP, Florida | $143 | $190 | $285 |
| Gladeview CDP, Florida | $143 | $190 | $285 |
| West Little River CDP, Florida | $145 | $193 | $290 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Miami, FL | 5.5% | 17.6% |
| Brownsville | 7.73% | 23.46% |
| Gladeview | 8.11% | 18.77% |
| West Little River | 6.87% | 26.01% |
| 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 |
| Streets in Miami Area | Homeowners Insurance Cost |
|---|---|
| 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 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Miami | $180 to $182 |
| Brownsville | $171 |
| West Little River | $174 |
| El Portal | $185 |
| Home value ($) | Age of home (years) | Wind mitigation | Company | Average homeowners insurance premium ($) |
|---|---|---|---|---|
| 150,000 | 27 | NO | Castle Key Indemnity Company Insurance | $6,366 |
| 150,000 | 27 | YES | American Integrity Insurance | $2,853 |
| 150,000 | 27 | YES | Tower Hill Prime Insurance | $2,704 |
| 150,000 | 27 | YES | Tower Hill Signature Insurance | $4,410 |
| 150,000 | 27 | YES | Universal Insurance | $3,970 |
| 300,000 | 12 | NA | Tower Hill Signature Insurance | $6,403 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,400 | $4,400 |
| Yearly Miami Homeowner Insurance Premium Example | $2,500 | $2,000 |
| Out of Pocket Expense During Claim | $1,400 | $4,400 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $21,400 | $20,400 |
| Net Savings to Miami Home Owner from High Deductible Plan | $1,000 | |
| Scenario | Miami, FL Home Replacement Value MORE than Home Value | Miami, FL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $148,000 | $104,000 |
| Insurance Premium based on Replacement Value | $3,325 | $2,325 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $11,500 | Risk Exposure from Under Insuring Coverage is $32,500 |
| Premium Impact | Insurance cheaper by $750/year | Insurance costlier by $250/year |
| Insurance Company | Chubb Group of Insurance | Travelers | GEICO Insurance |
| Monthly Premium | 310 | 250 | 231 |
| Year Built | 1981 | 1963 | 1953 |
| Home Details | 2 Beds, 1 Baths | 3 Beds, 1 Baths | 4 Beds, 2 Baths |
| Coverage Amount | $200000-$250000 | $150000-$175000 | $200000-$250000 |
| Deductible | $1000-$2500 Deductible | $500 Deductible | $2500-$5000 Deductible |