Palm Bay ,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 Palm Bay, 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 Palm Bay, FL is $1932. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Palm Bay, FL. VHome Insurance will help you navigate the world of homeowners insurance coverages in Palm Bay, FL.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $773 |
| $200,000 | $1,314 |
| $300,000 | $1,623 |
| $400,000 | $2,473 |
| $500,000 | $3,111 |
Home insurance costs in Palm Bay 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 |
|---|---|
| 032905 | $1,805 |
| 32909 | $1,838 |
| 32908 | $1,828 |
| 32907 | $1,836 |
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 Palm Bay, FL, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,981 |
| $1000 Deductible | $1,772 |
| $1500 Deductible | $1,671 |
| $2500 Deductible | $1,507 |
| $5000 Deductible | $1,275 |
| Home Insurance Company Near Palm Bay, FL | Homeowners Insurance Agency Near Palm Bay, FL | Address |
|---|---|---|
| State Farm | Lois Kennedy | 1676 Us Highway 1, Sebastian, FL, 32958-1604 |
| State Farm | Michael Moore | 9161 Narcoossee Rd Ste 207, Orlando, FL, 32827-5764 |
| State Farm | Ron Siegel | 1615 E Vine St, Kissimmee, FL, 34744-3721 |
| NA | Brown & Brown Of Florida, Inc. | 7341 Office Park Place Ste 202A , Melbourne, FL, 32940 |
| Travelers | Brevard Insurance & Marketing | 3201 N ATLANTIC AVE, COCOA BEACH, FL, 32931 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| West Melbourne city, Florida | $147 | $195 | $293 |
| June Park CDP, Florida | $147 | $195 | $293 |
| Grant-Valkaria town, Florida | $154 | $205 | $307 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Palm Bay, FL | 7.8% | 26.9% |
| West Melbourne | 6.42% | 22.0% |
| June Park | 6.74% | 23.31% |
| Grant-Valkaria | 6.3% | 18.42% |
| 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 |
| Streets in Palm Bay Area | Homeowners Insurance Cost |
|---|---|
| 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 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Palm Bay | $171 to $173 |
| West Melbourne | $175 |
| Grant-Valkaria | $184 |
| Melbourne Village | $180 |
| Home value ($) | Age of home (years) | Wind mitigation | Company | Average homeowners insurance premium ($) |
|---|---|---|---|---|
| 150,000 | 27 | NO | American Integrity Insurance | $3,459 |
| 150,000 | 27 | NO | American Traditions Insurance | $3,099 |
| 150,000 | 27 | NO | Citizens Property Insurance | $2,844 |
| 150,000 | 27 | NO | Florida Family Insurance | $2,436 |
| 150,000 | 27 | YES | Florida Farm Bureau Casualty Insurance | $1,028 |
| 150,000 | 27 | YES | Florida Peninsula Insurance | $1,327 |
| 150,000 | 27 | YES | Liberty Mutual Fire Insurance | $1,730 |
| 300,000 | 12 | NA | Auto Club Insurance | $2,845 |
| 300,000 | 12 | NA | Southern Fidelity Insurance | $3,149 |
| 300,000 | 12 | NA | United Property & Casualty Insurance | $3,004 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $700 | $7,700 |
| Yearly Palm Bay Homeowner Insurance Premium Example | $3,200 | $2,200 |
| Out of Pocket Expense During Claim | $700 | $7,700 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $26,300 | $25,300 |
| Net Savings to Palm Bay Home Owner from High Deductible Plan | $1,000 | |
| Scenario | Palm Bay, FL Home Replacement Value MORE than Home Value | Palm Bay, FL Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $133,500 | $93,000 |
| Insurance Premium based on Replacement Value | $2,925 | $2,050 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $17,500 | Risk Exposure from Under Insuring Coverage is $23,000 |
| Premium Impact | Insurance cheaper by $500/year | Insurance costlier by $375/year |
| Insurance Company | GEICO Insurance | State Farm | Chubb Group of Insurance |
| Monthly Premium | 143 | 209 | 410 |
| Year Built | 1984 | 1996 | 2007 |
| Home Details | 3 Beds, 2 Baths | 4 Beds, 1 Baths | 5 Beds, 3 Baths |
| Coverage Amount | $125000-$150000 | $125000-$150000 | $300000-$350000 |
| Deductible | $2500-$5000 Deductible | $500 Deductible | $1000-$2500 Deductible |