Average Plantation Home Insurance Rates by Company Technically, no, it’s not required to have home insurance. But, if you have a mortgage, you need a policy. Lenders require coverage as a condition of home loans to protect their investment. So, if you have a mortgage, you need an insurance policy. If you don’t have a mortgage on your house, nothing can make you buy a policy.
Key Takeaways
- The average homeowners insurance cost in Plantation, Florida, is about $7,207 annually, which is over double the Florida state average.
- Slide, Florida Peninsula, and Cypress had the cheapest home insurance in Plantation, according to our agency data.
- Rates vary by company, and you should always get quotes from multiple providers to find the most affordable deal and the best company for your circumstances.
Average Cost of Home Insurance in Plantation, Florida
The average cost of home insurance in Plantation, Florida, is about $7,207 annually, or about 152% above the average rate in the state of $2,857 annually. Florida is one of the nation’s most costly states for home insurance, and, unfortunately, South Florida, where Plantation is located, is one of the most expensive regions for coverage in the state.
Southeast Florida’s immense hurricane risk and high property values are the primary culprits that make the region one of Florida’s priciest for home insurance. But, rates are determined by a multitude of factors, including which company you choose.
As an independent insurance agency located in Fort Lauderdale, we can present you with real, average rates from our policyholders to help inform you when shopping for coverage.
| Company | Average Premium |
|---|---|
|
Slide Insurance Company |
$2,182 |
|
Florida Peninsula |
$4,719 |
|
Cypress Insurance Group |
$5,138 |
|
Edison |
$5,706 |
|
Swyfft |
$6,290 |
|
Citizens |
$6,562 |
|
People’s Trust |
$7,301 |
|
American Platinum |
$7,945 |
|
Average |
$7,207 |
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 Plantation, Florida
Slide, Florida Peninsula, and Cupress have the lowest average rates, according to our data. Additionally, our partners Edison and Swyfft offer competitive rates, and we can also offer policies from many other insurers. So, you can always count on Clovered to find the best possible premiums for you.
It’s worth noting that Citizens, which is the state-run insurer of last resort, had some of the highest premiums on our list. This is unusual because the government subsidizes Citizens’ rates, so it’s usually affordable.
Its status as the priciest insurer on our list could mean that mainly high-value or harder-to-insure property owners have opted for Citizens, as it was designed, while more typical homeowners are able to find competition in the market with standard carriers, which is a positive sign of a healthy insurance marketplace.
You can only qualify if you get three quotes from traditional carriers that are over 20% higher than your Citizens quote. Our team at Clovered will always compare multiple quotes for you to find the best deal we can.
The Best Homeowners Insurance Companies in Plantation, Florida
We’ve partnered with some of the best home insurance companies in Plantation so we can provide you with options. 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.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$2,812
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.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$4,719
Florida Peninsula Insurance Company was founded in 2005 and focuses on offering coverage in its namesake state. With over 150,000 policies in force in Florida, it just cracks the top ten list of Florida’s largest home insurers.
Cypress Insurance Group
Demotech Rating
A
NAIC Complaint Index
0.77
Average Premium
$5,138
Established in 1998, Cypress Property & Casualty, headed by the Cypress Insurance Group, offers several types of property insurance in Florida and Texas. The company has over 70,000 policyholders in the Sunshine State.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$5,706
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.
Swyfft
Demotech Rating
NR
NAIC Complaint Index
NR
Average Premium
$6,290
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
Citizens
Demotech Rating
NR
NAIC Complaint Index
0.69
Average Premium
$6,562
Citizens Property Insurance Corporation is Florida’s state-run home insurer of last resort. It’s a non-profit entity that provides property insurance to state residents who are unable to obtain coverage in the traditional, private market.
People’s Trust
Demotech Rating
A
NAIC Complaint Index
1.44
Average Premium
$7,301
People’s Trust Insurance Company was established in 2008 and offers home insurance exclusively in Florida. The company prides itself on its business model, which differs from most carriers in that it retains a network of preferred contractors for claims.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$7,945
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.
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We partner with the nation’s top home insurance companies so you can get an excellent policy at an affordable price.
What Does Home Insurance in Plantation, Florida Cover?
Plantation home insurance covers a variety of matters pertaining to your financial well-being, including your home, personal belongings, and many other structures that may be located on the property. Let’s take a look at the default coverage areas included in a policy.
| Coverage | Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage, or Coverage A, can protect you if a covered peril damages elements of your home’s structure. This may include things like your roof, walls, pipes, flooring, and more. |
|
Other Structures Coverage |
Other structures coverage, or Coverage B, can cover the fixtures on your property that aren’t attached to your main dwelling if they suffer damage from a covered peril. It can help you repair or replace your fence, detached garage, carport, pool, and more. |
|
Personal Property Coverage |
Personal property coverage, or Coverage C, helps guard the items you store in your home and on your property, should they suffer damage from a covered peril. The list of covered items is long and may include your patio furniture, lawnmower, sports equipment, clothing, electronics, and more. |
|
Loss of Use Coverage |
Loss of use coverage, or Coverage D, may help you cover temporary living expenses following significant damage to your home that renders it uninhabitable. It may help you cover bills for temporary housing, groceries, and more. |
|
Liability Coverage |
Liability coverage, or Coverage E, may help you if you’re found liable for a guest’s injuries on your property or damage to someone else’s property. It can help you cover things like medical expenses and legal fees. |
|
Medical Payments Coverage |
Medical payments coverage, or Coverage F, may be used to cover a guest’s medical bills following a minor injury on your property, regardless of who was at fault. |
How to Get Homeowners Insurance Quotes in Plantation, Florida
Since we partner with the top home insurance companies in Plantation, using our online quoting platform is the best way to get a quote. Just answer a few questions about your property, and we’ll run some numbers behind the scenes and then pair you with the perfect policy at the right price.
You can also call one of our many in-house agents at 833-255-4117 from 8:30 a.m. to 6 p.m. Monday through Friday or reach us via email 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.
Plantation Home Insurance FAQs
Is homeowners insurance required in Plantation?
What is wind mitigation in Plantation, Florida?
Wind mitigation refers to certain home features and construction details that make your house more resistant to strong winds, like those from hurricanes and tropical storms. Getting a wind mitigation inspection determines your extent of wind mitigation credits, which go a long way in reducing home insurance rates.
What factors affect Plantation home insurance costs?
Several factors affect home insurance rates, including house age, size, and construction materials. Property features like trampolines and pools can raise your premiums if not excluded from your policy. Plan details like coverage amounts, endorsements, and deductibles influence rates, as well.
Do you need flood insurance in Plantation, Florida?
You’re only required to have flood insurance in Plantation if you have a mortgage and your property lies in a federally designated flood zone, which is determined by the Federal Emergency Management Agency (FEMA). The city’s website states that approximately 10% of the city’s land is in a flood zone.
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.
