New Port Richey, FL Homeowners Insurance Rate Quotes!
In the great city of New Port Richey there are 14,911 people living in a variety of different property types. Some of you in New Port Richey are building your first single-family home. While others are looking for affordable home insurance quotes on your existing home or condo. While there are about 12,870 homes in the New Port Richey area, many of the ones that are currently occupied are in need of lower rates and better home insurance coverage. In the majority of these New Port Richey neighborhoods, the average family size is around 3 residents per house.
In New Port Richey, the average income per household is around $50,058. While this is a fairly high number, it is slightly below the national median. Luckily, the cost of owning a home in New Port Richey is fairly cheap, the average home price on the real estate market today is $159,227. Many residents living in New Port Richey like to use our online home insurance shopping service to get upfront rates before buying there first home. If you are shopping for a house, simply use our online quoting application to compare multiple rates for each "dream" house on your list. Our free consultation process helps you quickly review the best carrier and premium so you know the exact cost of home insurance. Some carriers are competitive in different areas, so if you are thinking about certain zip codes in New Port Richey, we help you decide which home will have the most affordable rates.
New Port Richey, FL Demographics and Household Facts
The city of New Port Richey is roughly around 14,911 residents in population growth with 6930 occupied homes within the city of New Port Richey. The average family household in New Port Richey is 3545.
|Total Occupied Homes||6930|
|Family Households (families)||3545|
|Average Owner Occupied Household Size||2.04|
|Average Family Size||2.77|
|Total Housing Units||8693|
Home Insurance In New Port Richey Is Lower Than Expected - Review Averages!
With the local real estate market booming, what better way to shop rates and coverages than with us at GetHomeInsuranceQuotes.com of New Port Richey. Average rates are around $1,645 per year. You can get rates as low as $1,395 per year. Larger homes in this area pay around $1,945 per year due to higher replacement cost coverage also known as dwelling coverage. This helps cover your expenses if you ever need to rely on your insurance company to replace or rebuild your home. This compares very favorably with the national average, which is $1,311 according to the latest data.
Florida is now ranked number 1 in the United States for annual home insurance rates.
When it comes to Florida home insurance, there are a variety of different policy types and each one is written for a certain type of home, condo or apartment. Having the right policy type is key to protecting your most valuable investment, your home.
Here is some information about the most common home insurance types in New Port Richey:
The HO-3 is the most common type of home insurance coverage. The majority of homeowners carry this type of policy and it covers damage that is caused by all perils unless they are excluded within the policy. Damages that are caused by floods or earthquakes is always excluded on an HO-3 policy but there can be other exclusions as well. Make sure you ask the right questions and take the time to review your policy so you know what is covered.
Condos are a very popular housing option in New Port Richey. In addition to condos, it also protects co-ops. This insurance offers coverage for your personal belongings as well as the components of the building that you actually own.
New Port Richey is lucky to have a fair number of historical homes and if you own one, you may need a HO-8 policy. These policy types are specific to older homes where the replacement cost of the house may actually exceed the cash value of the home.
These policies are affordable because the payout levels are less than the actual replacement cost of the house. In most cases, the need for an HO-8 policy arises when the house is more than 40 years old and doesn’t qualify for a HO-3 policy. These policies only cover 11 perils.
This policy type was designed for people that rent an apartment. It is often referred to as renters insurance. An HO-4 policy will pay out for damage to your personal property in your apartment and it also offers liability protection in the event that someone is injured in your apartment.
Compare Homeowners Insurance Rates in New Port Richey, FL!
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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 New Port Richey, 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 New Port Richey
Are you looking for homeowners insurance in a city near New Port Richey? 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 New Port Richey, FL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in New Port Richey.
New Port Richey, FL Home Insurance Average Premiums
For the city of New Port Richey, 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 |
|Average Coverage:||$1645 /yr.|
|2600 sq. ft. or higher |
(all discounts applied)
What is the average home insurance cost for a home in New Port Richey, FL?
- • The average homeowners insurance premium paid annually for a home in New Port Richey is around $1645 per year.
What does it cost on average per month for home insurance in New Port Richey, FL?
- • Homeowners in New Port Richey pay an average cost per month around $137.00 for insurance coverage.
New Port Richey, FL Coastal Wind, Hail & Flood Information
New Port Richey 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 New Port Richey is know for it's beautiful beaches and waterways. Because Pasco County (FIPS: 12101) 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 New Port Richey, FL.
Coastal New Port Richey, 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
New Port Richey, FL - 2023 Housing Information
|Month||Current Home Value (2023)||Last Year Home Value (2022)|
Homeowners insurance will help cover the cost to repair or replace your New Port Richey 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 New Port Richey
- 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 New Port Richey, FL homeowners insurance rates all in one place!
Saving Money Tips on New Port Richey Home Insurance
A great way to save money on New Port Richey 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 New Port Richey area? Check out what homeowners are paying on average for Florida homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
|18 ft.||This is the average home elevation in New Port Richey, 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 New Port Richey, 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 New Port Richey, 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 Pasco County.
Florida Homeowners Insurance News & Information
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: […]
Citizens Property Sends Out Letters Posted on Wednesday 27th September, 2023
Soon, hundreds of thousands of Citizens Property Insurance Company policyholders will be getting a letter in their mailbox asking them to move their policy to a private insurance company and away from Citizens, the state-backed insurer of last resort. Citizens Property is using the letters as part of its “Depopulation” effort that was approved by […]
5 New Homeowners Insurance Companies Step into the Florida Insurance Market Posted on Wednesday 27th September, 2023
Florida’s property insurance disaster may be taking baby steps in the right direction as five new insurers step into the Florida market, taking over hundreds of thousands from Citizens Property, Florida’s insurer of last resort. This could lead to more insurance options for residents of the Sunshine State soon. The five companies in the mix […]
New Port Richey, FL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in New Port Richey 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 New Port Richey, FL?
- The average square footage in New Port Richey is around 953 Sq. Ft. which would cost you around $159,227 to replace the home if you base the home on the price to build per square foot of $167.
Minimum Replacement Cost Total: $159,227
Location: New Port Richey, Florida (Pasco County)
Average Building Cost Per Square Foot in New Port Richey: $167 (low end)
Average Square Footage in New Port Richey: 953 Sq. Ft.
|Home Improvement Status||Price per Sq. Ft.||Dwelling Coverage|
|None or Very Minor Improvements||$167||$159,227|
|Some Additional Upgrades||$209||$199,033|
|Major Home Updates or Advancements||$251||$238,840|
The dwelling coverage is calculated by the average cost per square foot ($167) in New Port Richey, 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.