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Check Out 32340 Home Insurance Rates

Shopping for homeowners insurance is never fun but at GetHomeInsuranceQuotes.com we make the process much easier. We will provide you with multiple quotes and coverage options for your home in Madison, FL.

We will gather some basic information about your home in Madison, FL and will then get to work and gather quotes from up to 12 nationwide home insurers who will provide their most competitive prices for your policy needs.

Our service is always free and we have a team of Florida licensed home insurance professionals who can walk you through your policy options as well as answer any questions you may have about rates or coverage levels. In addition they will do a discount review to make sure you are getting all of the discounts that you are entitled to receive.

If you are ready to start researching homeowner insurance rates in 32340 simply click the "Get Multiple Quotes Now" button.

Research Home Insurance Quotes in 32340

We have pulled together a variety of data related to homeowners insurance in Florida. Simply click on one of the links below to learn about the average cost of homeowners insurance in Florida as well as local coverage options.

You can easily compare rates for your home in ZIP starting an online quoting application to "get quotes". Or search additional Madison, FL home insurance quotes in your local city and review the most competitive coverages and premiums.

32340 Homeowners Insurance Rates, Average Rating: very high!

Homeowners insurance policies in 32340 include both property and casualty coverage which protects your home from a variety of risks which include but are not limited to fire, theft, vandalism, and wind damage. A standard homeowner policy also includes liability protection, which can come in handy if someone is injured on your property.

Unfortunately, flood and earthquake damage is not covered by a standard homeowners insurance policy so if you are located in a flood plain or high risk area, you will need a separate flood policy.

Regardless of what type of homeowners insurance you need, we can help you find a great policy at an affordable price. Data shows that for a standard homeowner policy in Florida is roughly $1630. In most cases, we can help you save up to 40 percent on your homeowner insurance costs.

Get started right now saving on your 32340 homeowners insurance policy!

32340 Home Insurance Average Premiums

Local 32340 homeowners insurance quotes comparison

$1380 /yr.

Shows Zip Code: 32340 lowest rates with discounts applied on average.

For the 32340, 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)
$1380 /yr.
Average Coverage:$1630 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1930 /yr.

What is the average home insurance cost for a home in 32340?

  • • The average homeowners insurance premium paid annually for a home in 32340 is around $1630 per year.

What does it cost on average per month for home insurance in 32340?

  • • Homeowners in 32340 pay a monthly average cost per month around $136.00.

What kind of discount could I get if I combine my home and auto insurance together in 32340?

  • • Autoowners in 32340 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Madison area, check out other zip codes nearby 32340.
Review average rates in another zip code:
32340 homeowners insurance rates

Home Replacement Cost Coverage in 32340

Average Building Cost Per Square Foot in 32340: $167

Location: Madison, Florida (Madison County)

Average Square Footage in 32340: 679 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 32340 before you start any project. Madison homeowners pay on average around $167 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 32340 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 32340 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 679 sq. ft. and the average cost to rebuild the home in this area is around $167 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Madison area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$167679$113,400
Additional Upgrades & Added Features$209679$141,750
Major Home Updates or Advancements$251679$170,100

It's important to understand that when you estimate your replacement cost of your home in the 32340 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 32340

Best Home & Auto Insurance Agencies in 32340

Housing Demographics for 32340

Population Review for 32340 Zip Code

For the city of Madison, the population within 32340 has increased to over 9,378 residents in population size. The current population total is 10,744. We have broken down the population based on race below. In 32340, there are over 5858 in male population and 4886 females.

PopulationValues
Total Population10,744
White Population5272
Black Population4881
Hispanic Population519
Asian Population19
Hawaiian Population0
Indian Population23
Other Population205
Male Population5858
Female Population4886
Population Estimate9378

Household Data for 32340

The average number of homes in 32340 is around 3,953, there are an average of 2.31 per household. The average house value according to local real estate values is around $113,400. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode3,953
Persons Per Household2.31
Average House Value$113,400
Income Per Household$35230
Median Age44.8
Median Age Male43.1
Median Age Female47.0
32340 DetailsValues
StateFL
State Full NameFlorida
City TypeP
City Alias Abbreviation
Area Code850/448
CityMadison
City Alias NameMADISON
CountyMadison
County FIPS079
State FIPS12
Time Zone5
Day Light SavingY
MSA
PMSA
CSA
CBSA
CBSA_DIV
CBSA_Type
CBSA_Name
MSA_Name
PMSA_Name
RegionSouth
DivisionSouth Atlantic
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses239
Number Of Employees2279
Business First Quarter Payroll17857
Business Annual Payroll80207
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population0
CBSA Division Population0
Congressional District02
Congressional LandArea8613.58
Delivery Residential4060
Delivery Business358
Delivery Total4401
Preferred Last Line KeyY22314
Classification Code
Multi-County
CSA Name
CBSA_DIV_Name
City State KeyY22314
Land Area208.547000
Water Area4.908000
City Alias Code
City Mixed CaseMadison
City Alias Mixed CaseMadison
Box Count0
SFDU3577
MFDU144
State ANSI12
County ANSI079
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number115550
Unique ZIP Name
SSA State County Code10390
Medicare CBSA Code99910
Medicare CBSA NameRural Areas in FL
Medicare CBSA TypeMicro
Market Rating Area ID39
County Mixed CaseMadison

Florida Homeowners Insurance News & Information

  • 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 […]

  • Florida Lawmakers May Allow Takeout Offers to Citizens’ Policyholders Posted on Wednesday 13th March, 2024

    Lawmakers in Florida are moving closer to allowing specific insurer types to make offers to policyholders currently with Citizen’s Property to insure their vacation or second home.  SB 1716 this week cleared the Senate’s Fiscal Policy Committee for the takeout offers after the Senate’s Banking and Insurance Committee approved the measure earlier this month.  This […]

  • Florida has 7 New Home Insurance Companies Entering the Market Posted on Friday 1st March, 2024

    Recently, Florida has seen seven new insurance companies enter the market for homeowners coverage. Currently, the average premium for homeowners coverage is $6,000 a year in the Sunshine state compared to a nationwide average of just $1,700 a year, according to the Insurance Information Institute.  The Insurance Information Institute is hopeful that the new insurance […]

  • What exactly is a FAIR Plan? Posted on Tuesday 2nd January, 2024

    If you live in an area where severe weather is common, or wildfires pop up every summer you may have trouble finding affordable home insurance coverage. If homes in your area are repeatedly damaged or destroyed by a covered peril, insurers may pull out of the entire area, refusing to write policies in your neighborhood. […]

  • Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023

    Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]

  • 2024 Homeowners Insurance Outlook Receives Negative Rating Posted on Tuesday 21st November, 2023

    The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies.  Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]

  • Fall 2023: Florida Homeowners Insurance Premium Update Posted on Tuesday 24th October, 2023

    Despite the fact that the Florida legislation finally passed a couple of bills to deal with the ever-increasing cost of homeowners insurance, it seems unlikely that premiums will start to fall anytime soon according to a report put out by Karen Clark & Company (KCC), a risk modelling firm. The recent report, titled “Managing Expectations: […]