Fenwick Island, DE Home Insurance Quotes!

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Affordable home insurance is just one of the benefits of living in our beautiful city. The cost of homeowners insurance in Fenwick Island is around $782 per year. With all major discounts applied you can get rates as low as $532/yr. Homeowners in larger homes that need more dwelling coverage to accurately replace the home value for a 2,500 square foot home or bigger will see rates a little higher in the $1,082 per year range. Getting the best coverage with the right company for your home in Fenwick Island starts with our excellent home insurance shopping process. Enter your zip code to review the best rates and coverage options available.

Fenwick Island Home Insurance Coverage Types

Homeowners insurance comes in a variety of different types and each one has been designed to specifically insure a certain type of housing unit. One type of coverage is for a single-family house while an HO-4 policy is designed for an apartment.

Here is a quick overview of the different types of insurance that are available to you as a homeowner.

  • HO-3: A standard home, requires a standard homeowners policy and that is exactly what an HO-3 policy is designed to insure. It is the most popular type of homeowners policy being sold and will protect you from all perils except those excluded in the wording of the policy.
  • HO-6: Co-op and condo dwellers require a specific type of homeowners protection and an HO-6 fills those needs. It offers protection for both your personal property as well as the various parts of the building that you own. The walls and mechanical fixtures in your particular unit are examples of covered materials.
  • HO-8: Older homes come with their own set of challenges, one being that it often costs more to rebuild them than they are worth due to building methods and the type of materials used in their construction.
    In many cases, these homes are not eligible for a HO-3 policy so the only affordable way to protect them is with an HO-8 policy. An HO-8 policy will only cover 11 specific perils, and coverage levels may not pay out the entire cost to rebuild the house.
  • HO-4: The majority of us know this as renters insurance. It covers the personal possessions in your apartment from damage, destruction and even theft.

One of the major benefits of an HO-4 policy is the liability coverage that it offers. This portion of the policy will pay out if someone is injured in your apartment. It will cover the cost of medical bills, as well as a legal defense if you are sued because someone was injured in your apartment.

Fenwick Island is a Great Place to Call Home, Here are the Facts

Fenwick Island is one of the crown jewels of the Delaware landscape and a current total of 2,480 homeowners currently call this beautiful little city home. There are a variety of housing options available in Fenwick Island including new home purchase opportunties to great fixer uppers. Regardless of whether you are looking for an apartment, single-family house or a condo, we have you covered.

In Fenwick Island, there are 331 households per zip code and the average number of people living in a household is 2.

In Fenwick Island, the average household lives on an income of $76,500, which is slightly below the national average, but still very impressive. Luckily, that $76,500 goes pretty far in the Fenwick Island housing market with the median house price coming in a $776,500.

Compare Homeowners Insurance Rates in Fenwick Island, DE!

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Get up to 12 competitive Fenwick Island, DE homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Fenwick Island, DE rates all in one place!

Average Rates Nearby Fenwick Island

Are you looking for homeowners insurance in a city near Fenwick Island? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Fenwick Island, DE

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Fenwick Island.

19944,     

Fenwick Island, DE Home Insurance Average Premiums

Local Fenwick Island, DE home insurance quotes comparison

$532 /yr.

Shows Fenwick Island's lowest average rates with discounts applied.

For the city of Fenwick Island, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$532 /yr.
Average Coverage:$782 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1082 /yr.

What is the average home insurance cost for a home in Fenwick Island, DE?

  • • The average homeowners insurance premium paid annually for a home in Fenwick Island is around $782 per year.

What does it cost on average per month for home insurance in Fenwick Island, DE?

  • • Homeowners in Fenwick Island pay an average cost per month around $65.00 for insurance coverage.

Fenwick Island, DE Coastal Wind, Hail & Flood Information

Fenwick Island is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood Zone Notice: The beautiful coastal city of Fenwick Island is know for it's beautiful beaches and waterways. Because Sussex County (FIPS: 10005) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Fenwick Island, DE.

Fenwick Island, DE - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $750,718 $705,024
February $765,529 $708,199
March $790,891 $712,591
April $813,144 $723,846

Homeowners insurance will help cover the cost to repair or replace your Fenwick Island home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

  • Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Fenwick Island
  • Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
  • Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
  • Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
  • Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Enter your Zip Code:    

Get up to 12 competitive Fenwick Island, DE homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Fenwick Island, DE rates all in one place!

Saving Money Tips on Fenwick Island Home Insurance

A great way to save money on Fenwick Island homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

  • Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
  • Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
  • Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
  • Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Fenwick Island area? Check out what homeowners are paying on average for Delaware homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
0 ft. This is the average home elevation in Fenwick Island, DE

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Fenwick Island, Delaware.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

To get online quotes on your home and compare rates on home insurance premiums in Fenwick Island, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Sussex County.

Delaware Homeowners Insurance News & Information

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    If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it.  A.M. Best is a credit rating […]

  • Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024

    A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase.  Currently, a Broward commissioner is asking Congress to pass legislation he claims […]

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    North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]

Fenwick Island, DE Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Fenwick Island so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Fenwick Island, DE?

- The average square footage in Fenwick Island is around 2,225 Sq. Ft. which would cost you around $776,500 to replace the home if you base the home on the price to build per square foot of $349.

Minimum Replacement Cost Total: $776,500

Location: Fenwick Island, Delaware (Sussex County)

Average Building Cost Per Square Foot in Fenwick Island: $349 (low end)

Average Square Footage in Fenwick Island: 2,225 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$349$776,500
Some Additional Upgrades$436$970,625
Major Home Updates or Advancements$524$1,164,750

The dwelling coverage is calculated by the average cost per square foot ($349) in Fenwick Island, Delaware times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $1,090,625 (Media price to build of $436 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.