Homeowners Insurance in Daytona Beach, Florida

Daytona Beach is known for its motorsports. But, if you live there, you know it’s got a lot more to offer. Great fishing and six nearby parks make outdoor recreational activities convenient. Throw in the classic beach, boardwalk and pier, and you’ve got a great family-friendly location with something for everyone.

Its location between Jacksonville and Orlando means you’re only a short drive away from major metropolitan centers and international airports. Perhaps the most unexpected benefit of the city, though, is its surprisingly affordable homeowners insurance rates.

The average cost of homeowners insurance in Daytona Beach is about $1,884 annually, although many factors, such as location, property value, and home construction features, affect rates.

Premiums are relatively low despite the city’s risk of hurricanes and floods, which tend to drive up rates around the state. Perhaps the significant number of retirees, seasonal second homeowners, and condos in the city contribute to the lower cost of Daytona Beach homeowners insurance. 

Let’s examine what some insurance companies in Daytona Beach are charging on average.

As you can see, premiums vary significantly by company. These home insurance numbers from our internal data include condo numbers. If you were to exclude condo policies, which are separate from homeowners and often cheaper, you’ll likely pay higher than the average premium listed above.

While many factors affect the prices of home insurance in Daytona Beach, one of the major influences is wind mitigation. Generally, the better your home can handle hurricane-force winds, the less you’ll have to pay for homeowners insurance. 

Rates in Florida are generally high due to hurricanes’ historic and drastic effects on properties in the state. To combat this, the government requires insurance companies in Daytona Beach to discount rates for homeowners who are proactive in protecting against wind damage from hurricanes. It’s like a reward — and a sizable one at that. 

Based on the numbers above, American Platinum and Citizens tend to come in with the lowest average rates in Daytona Beach. Note that Citizens should be viewed as an insurer of last resort, if you can help it.

Citizens is a non-profit insurance company run by the Florida state government. It was founded in the early 2000s after a string of severe hurricanes hit the state and scared off or financially ruined many private insurers. Citizens is very popular since it is usually one of the cheapest insurance companies in Daytona Beach and the rest of the state, but its coverage is limited compared to other providers, and not everyone is eligible for their coverage.

Homeowners insurance is such a popular and worthwhile investment because it protects a lot more than just your house. A standard home insurance plan includes the following aspects of coverage:

In Daytona Beach, home insurance with protection in so many areas of life seems like a wise financial investment. It’s always better to have it in the first place than be wishing you had it when it’s too late.

Figuring out rates for home insurance in Daytona Beach, Florida is a complex process that varies from insurance company to insurance company. There are several factors every provider looks at when determining premiums, though. These include:

If this seems like a lot, it kind of is. Insurers are in the business of calculating risk, and it’s no easy task. On top of this, Daytona Beach homeowners insurance companies have to consider the following weather-related hazards that affect rates.

Daytona Beach is prone to flooding, thanks to the major bodies of water around the city like the Atlantic Ocean and Halifax River. The Federal Emergency Management Agency (FEMA) has designated areas near Federal Highway along the Halifax River as risky flood zones.

Also, many neighborhoods in South Daytona and Daytona Beach between US-1 and Nova Road are in A or AE flood zones. A lot of properties near the Daytona Beach Golf Club, Samuel L. Butts Park, Blaine O’Neal Park and Bethune Cookman University have been deemed flood risks.

The Daytona Beach city website recommends that “all residents and businesses in areas vulnerable to flooding should have flood insurance.” This is because homeowners insurance doesn’t cover damage from floods. To be adequately protected in case of a flood or storm surge, you’d need a separate flood policy to cover your home and belongings, especially if you live in one of many Daytona Beach flood zones.

As of the summer of 2024, Daytona Beach residents will soon be eligible for a 25% discount on FEMA flood insurance policies due to the city’s flood mitigation efforts in compliance with the National Flood Insurance Program.

Like all cities on the east coast of Florida, Daytona Beach is in danger of sustaining impacts from hurricanes come storm season. Just recently, the city picked up damage from Hurricane Matthew in 2016, Dorian in 2019, and Ian and Nicole in 2022.

The risk hurricanes and tropical storms pose are a couple of the reasons homeowners insurance in Florida is usually the most expensive in the country. Fortunately, your Daytona Beach homeowners insurance will cover damage from hurricanes.

Clovered is changing the insurance game for those seeking Daytona Beach home insurance. We give you the resources you need, like an online quote engine that allows you to customize plans and compare rates of top homeowners insurance providers in Daytona Beach, to give you an ideal plan you can afford.

Or, if you’d prefer to speak to a licensed agent instead of receiving an online quote, just call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. or email us anytime at agent@clovered.com.