Homestead, FL Homeowners Insurance Rate Quotes!
Homestead homeowners, we can help you make sure your homeowners policy protects you from financial loss that could occur if your home was damaged. Did you know that homeowners are protected within a standard home insurance policy that covers damages or loss due to fires, hurricanes, lightning, wind, theft, vandalism, and even falling objects like power lines or trees. It's also important to know that a homeowners policy provides liability coverage if you were found responsible for someones injury. A standard or basic HO-3 policy doesn't cover floods, this is a separate policy and can be purchased through your insurance carrier or through the National Flood Insurance Program. If your home is located in a flood zone, you will need to add a flood insurance policy. We can help you with this service once you finalize your home insurance quotes request, our system will recognize if your home is required for flood protection. Get the best rates and coverages today with us at Get Home Insurance Quotes.com!
For more information, please review some of the most recent home insurance questions from our customers. For Homestead home insurance quotes online, simply enter your zip code to start comparing quotes, we can usually compare up to 12 major carriers.
Homestead, FL Demographics
Did you know that the city of Homestead has over 60,512 residents? There are 18996 occupied homes within the city of Homestead. The average family household in Homestead is 14062.
- Homestead City Population: 60,512
- Total Occupied Homes in Homestead: 18996
- Family Households (families): 14062
- Average Home Size: 2.96
- Average Family Size: 3.50
- Total Housing Units: 23419
Homestead, FL Homeowners Insurance Rates
Homeowners of Homestead are currently paying around $1652 per year for home insurance coverage on average. We can help you reduce your rate by comparing up to 12 different home insurance carriers that are very competitive in Homestead and are seeing rates much lower around $1402 a year. Plus, we can review all the discounts and credits available, as some carriers provide exceptional discounts that are not available to everyone. When completing our home insurance quoting application, make sure you select all the discount features that apply to your home.
You may want to know that the national average premium for home insurance in the United States is $1311 per year. This usually helps when you want to compare your current annual premium payment to national averages. The average rates you see posted reflect the cost of a standard home insurance policy for a basic single-family home. A standard policy includes the coverage cost to replace your home, your contents within your home, loss of use, medical payments and liability coverage.
Easily save time by taking advantage of our online quoting service and let us compare multiple coverage options and rates for you. It's helpful to compare prices and coverage options and choosing an insurance company you know and trust. In the future, if you make any additional improvements to your home in Homestead, it's important to update your policy so all things are considered and covered in case of an emergency. Let's get started today!
Compare Homeowners Insurance Rates in Homestead, FL!
Get up to 12 competitive Homestead, FL homeowners insurance rates all in one place! |
Our Service in Florida
You can feel confident that our experience, integrity and service will help you find the best insurance policy at a price you can afford. We work with a wide variety of insurers in Homestead, Florida and all of them are top rated "A+" by A.M. Best Rating and have been in business for several decades.
Just a few of the insurers we work include American Integrity Insurance Group, Anchor Insurance, ASI, Bankers Insurance Group, Centauri Insurance, Chubb, Edison Insurance Company, Florida Peninsula Insurance Company, Heritage Insurance, Lexington Insurance, Olympus Insurance, People's Trust Insurance Company, St. Johns Insurance Company and many more.
Average Rates Nearby Homestead
Are you looking for homeowners insurance in a city near Homestead? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Homestead, FL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Homestead.
Homestead, FL Home Insurance Average Premiums
$1402 /yr.
For the city of Homestead, 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) | $1402 /yr. |
| Average Coverage: | $1652 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1952 /yr. |
What is the average home insurance cost for a home in Homestead, FL?
- • The average homeowners insurance premium paid annually for a home in Homestead is around $1652 per year.
What does it cost on average per month for home insurance in Homestead, FL?
- • Homeowners in Homestead pay an average cost per month around $138.00 for insurance coverage.
Homestead, FL Coastal Wind, Hail & Flood Information
Homestead 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 Homestead is know for it's beautiful beaches and waterways. Because Miami Dade County (FIPS: 12086) 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 Homestead, FL.
Coastal Homestead, Florida Information: To obtain flood insurance coverage, the process usually takes more than 30 days to finalize, if you need flood insurance coverage now, please call us at 888-620-1954.
For more information about your area, please click Coastal Homeowners Insurance in Florida
Homestead, FL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $404,500 | $346,222 |
| February | $403,671 | $354,556 |
| March | $404,027 | $363,569 |
| April | $404,628 | $372,402 |
Homeowners insurance will help cover the cost to repair or replace your Homestead 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 Homestead
- 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.
Get up to 12 competitive Homestead, FL homeowners insurance rates all in one place! |
Saving Money Tips on Homestead Home Insurance
A great way to save money on Homestead 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 Homestead area? Check out what homeowners are paying on average for Florida homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 4 ft. | This is the average home elevation in Homestead, FL | » 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 Homestead, Florida. 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. 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 Homestead, 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 Miami Dade County.
Florida Homeowners Insurance News & Information
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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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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 […]
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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 […]
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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. […]
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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 […]
Homestead, FL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Homestead 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 Homestead, FL?
- The average square footage in Homestead is around 1,468 Sq. Ft. which would cost you around $245,160 to replace the home if you base the home on the price to build per square foot of $167.
Minimum Replacement Cost Total: $245,160
Location: Homestead, Florida (Miami Dade County)
Average Building Cost Per Square Foot in Homestead: $167 (low end)
Average Square Footage in Homestead: 1,468 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $167 | $245,160 |
| Some Additional Upgrades | $209 | $306,450 |
| Major Home Updates or Advancements | $251 | $367,740 |
The dwelling coverage is calculated by the average cost per square foot ($167) in Homestead, Florida 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 $521,875 (Media price to build of $209 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.