Average Rates for Home Insurance on Merritt Island, Florida Homeowners insurance isn’t required by law in Merritt Island, but mortgage lenders will require homeowners to obtain policies to protect their investment. If you don’t find your own coverage, your lender can force-place insurance on you. Force-placed insurance is more expensive and less comprehensive than a normal policy. Avoid force-placed coverage by finding a plan and making timely payments to your provider.
Key Takeaways
- The average homeowners insurance cost in Merritt Island, Florida, is about $4,476, which is above average in the state.
- Mangrove Property and American Platinum had the cheapest home insurance in Merritt Island, according to our agency data.
- The best and most reliable way to save money when buying homeowners insurance is to compare quotes from multiple companies before choosing a policy.
How Much Is Homeowners Insurance in Merritt Island, Florida?
The average cost of home insurance on Merritt Island is about $4,476 per year, or about 57% higher than Florida’s average of about $2,857 annually.
Florida home insurance rates are among the highest in the country due to soaring property values and the significant threat of hurricanes every year. On Merritt Island, rates are above the state average in most cases, likely due to the area’s hurricane-prone location on the Atlantic coast. Although no storm has directly hit the region lately, it’s still very exposed.
As an independent Florida agency, we’ve helped several people in the Merritt Island area find insurance, and we can list their premiums below to give you an idea of what to expect when shopping for a policy.
|
Company |
Average Premium |
|---|---|
|
Mangrove |
$3,592 |
|
American Platinum |
$4,295 |
|
Edison |
$5,424 |
|
Slide Insurance Company |
$8,220 |
|
Average |
$4,476 |
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
The Cheapest Homeowners Insurance in Merritt Island, Florida
Mangrove Property and American Platinum had the lowest home insurance rates on Merritt Island, according to our agency data. But you may be able to find cheap coverage from any of the carriers on our list, as rates vary by person and company and depend on many factors.
Mangrove is a newer insurance company in Florida, founded in the wake of legislative reforms around 2023 aimed at restoring Florida’s struggling insurance marketplace. American Platinum is a carrier that operates in Florida and Georgia and is available exclusively through our Clovered agency.
You shouldn’t rule any carrier on our list out, as certain factors about yourself and your property weigh into premiums differently at different companies. Also, some insurers may want to expand their business and offer more affordable rates in specific areas, while others may not want new policyholders at a given time.
You should always shop around to find the best deal, and our team of licensed agents can help you do that, whether it’s with the carriers above or any of our other partners.
Best Homeowners Insurance Companies in Merritt Island, Florida
There’s no objective best home insurance company on Merritt Island, as coverage needs, rates, and personal preferences vary by policyholder and make some insurers more attractive than others on a case-by-case basis. Nevertheless, we want to give you some options so you feel more comfortable in making a decision.
Average premiums are determined from our policyholder data. Financial strength is determined by each company’s ratings from Demotech, a leading insurance industry credit rating agency.
To gauge consumer satisfaction, we used the National Association of Insurance Commissioners’ complaint index, which compares a firm’s consumer complaint performance with other companies in the market. The default index number is 1.0, meaning a company with a complaint index of 2.0 has a complaint value twice as high as expected. So, for their scale, lower is better.
Mangrove Property Insurance
Demotech Rating
A
NAIC Complaint Index
0.00
Average Premium
$3,592
Mangrove Property Insurance Company was founded in 2025 in Florida and offers home insurance coverage only in the Sunshine State. It is distributed through independent agents.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$4,295
American Platinum Insurance Company, founded in 2011, is a subsidiary of Universal Insurance Holdings, offering home insurance coverage in Florida and Georgia. Policies are available exclusively through independent agents at Clovered.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$5,424
Established in 2006, Edison Insurance Company offers home insurance primarily in Florida through independent agents, like our team at Clovered. It was acquired by Florida Peninsula Insurance Company in 2010, although it still has its own book of business.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$8,220
Slide Insurance Company was founded in 2021 and began operations offering home insurance in 2022. Available in Florida and South Carolina, the company currently has over 300,000 policyholders in the Sunshine State, making it one of Florida’s largest.
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
Merritt Island Homeowners Insurance Coverages
The protection you receive in a homeowners insurance policy is divided into different coverage areas. These coverages largely remain the same regardless of the insurance company:
|
Coverage |
Definition |
|---|---|
|
Coverage A |
Dwelling coverage, or Coverage A, financially protects your home’s physical structure and components, including the roof, walls, flooring, balconies, wiring, plumbing, and more. |
|
Coverage B |
Other structures coverage, or Coverage B, covers elements of your property not attached to your main home. This may include structures such as sheds, fences, detached garages, carports, and more. |
|
Coverage C |
Personal property coverage, or Coverage C, protects your belongings, including electronics, clothing, furniture, small appliances, art, jewelry, bikes, and more. Your insurer will reimburse you if these items are stolen or damaged by a covered event. |
|
Coverage D |
Loss of use coverage, or Coverage D, can help you cover living expenses you incur if you must move out of your home after significant damage from a covered loss. Your insurer can help cover temporary lodging, gas, groceries, and other necessities. |
|
Coverage E |
Liability coverage, or Coverage E, covers potential medical bills and legal fees if someone sustains an injury that you’re found liable for after a lawsuit. This coverage may also protect you if you damage someone else’s property. |
|
Coverage F |
Medical payments coverage, or Coverage F, is like liability coverage on a smaller scale, covering minor, accidental injuries like a broken arm or tooth, regardless of fault. |
How to Get Home Insurance Quotes in Merritt Island, Florida
Rather than going it alone, it’s never a bad idea to consult an independent insurance agency for help with homeowners insurance quotes in Merritt Island. An independent agent can answer your questions and find you coverage tailored to your needs.
Our team at Clovered wants to make your search for the right insurance easy. Take advantage of our online quoting platform to compare plans from top home insurance companies in Merritt Island in minutes.
Or, feel free to call one of our licensed agents at 833-255-4117, who would be happy to walk you through a quote. You can also email us at agent@clovered.com.
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
Merritt Island Home Insurance FAQs
Is homeowners insurance required in Merritt Island, Florida?
What is wind mitigation in Merritt Island, Florida?
Wind mitigation refers to home construction components that help your house withstand hurricane-force winds. Wind mitigation features include roof straps, roof geometry, and opening protections like hurricane windows. Having wind mitigation features can reduce your home insurance premiums significantly, and you can see if you qualify with a wind mitigation inspection.
What factors affect the cost of home insurance in Merritt Island?
Insurance companies examine several factors about you and your property to determine premiums. The most significant ones include house age, size, construction materials, and condition. Additionally, your claims history matters; if you’ve filed several claims in the past, you’ll probably have higher premiums. Policy details like deductibles, coverage amounts, and endorsements also affect Merritt Island home insurance rates.
Do you need flood insurance in Merritt Island, Florida?
You only need flood insurance in Merritt Island if your property is in a federally designated high-risk flood zone. If you have or are seeking a mortgage while living in a flood zone, your lender will require you to get flood insurance in addition to homeowners insurance. You need a separate policy to protect your property from flooding.
Stay Above Water With Flood Insurance
Do you want to pay for costly and common flood damage yourself or have an insurance policy pick up the tab?
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.
