Average Rates for Home Insurance in The Villages, Florida Homeowners insurance in The Villages isn’t required by law. However, mortgage lenders require insurance policies for borrowers. If you have a mortgage, you must maintain home insurance for the life of the loan. Otherwise, your lender will force-place suboptimal coverage on you.
Key Takeaways
- The average homeowners insurance cost in The Villages, Florida, is about $2,051 annually, which is well below Florida’s statewide average.
- American Platinum and Edison had the cheapest home insurance in The Villages, based on our internal agency data.
- The best way to save money on home insurance is to shop around with multiple carriers before selecting a policy.
Average Cost of Home Insurance in The Villages, Florida
Home insurance in The Villages costs an average of $2,051 annually, or about 28% below Florida’s average rate of $2,857 annually.
Average home insurance rates in Florida are statistically higher than in most other states. This is primarily due to the severe threat of hurricanes and to the dwindling pool of available insurers since 2020.
However, average insurance rates in The Villages are more affordable, partly because the city’s inland location shields it from major hurricane damage. Additionally, several new insurers have begun writing insurance in Florida following legislative reforms beginning in 2022, creating new competition and favorable rate differences for consumers.
As an independent Florida insurance agency, we can list average rates our policyholders experience in The Villages from various providers.
|
Company |
Average Premium |
|---|---|
|
American Platinum |
$2,017 |
|
Edison |
$2,344 |
|
People’s Trust |
$2,664 |
|
Average |
$2,051 |
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 The Villages, Florida
American Platinum and Edison had the cheapest home insurance in The Villages, according to our data. Edison is a Florida-based insurer operating only in the state, while American Platinum writes policies in Florida and Georgia and is only available through our team at Clovered.
Another common choice for affordable coverage not listed is Citizens Property, the state-run insurer of last resort in Florida. The state subsidizes Citizens’ rates, as the company is meant to be a fallback for people who can’t easily find coverage in the traditional insurance marketplace. Its exclusion from our list could be a good sign for residents that the market is competitive and healthy in The Villages.
Best Homeowners Insurance Companies in The Villages, Florida
Deciding on the best company for The Villages insurance in Florida isn’t always cut and dry. In addition to premiums, residents may consider customer service, company values, and other factors. We want to present 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.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$2,017
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
$2,344
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.
People’s Trust
Demotech Rating
A
NAIC Complaint Index
1.44
Average Premium
$2,664
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.
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.
What Does Homeowners Insurance in The Villages, Florida, Cover?
We’ve broken down the costs of home insurance in The Villages, but what exactly are you paying for? A standard homeowners insurance plan covers more than just the physical structure of your house. Homeowners insurance is a worthwhile investment because it includes the following areas of coverage:
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage financially protects your home’s structure and components, like the roof, walls, flooring, pipes, wiring, and more. |
|
Other Structures Coverage |
Other structures coverage safeguards fixtures on your property that aren’t attached to the main house, like sheds, detached gargages, fences, and pools. |
|
Personal Property Coverage |
Personal property coverage guards your belongings, including electronics, furniture, clothing, jewelry, tools, and more, from theft and damage. |
|
Loss of Use Coverage |
Loss of use coverage can reimburse you for living expenses, such as lodging and groceries, you incur if you must move out of your house after it suffers major damage from a covered peril. |
|
Liability Coverage |
Liability coverage helps cover legal fees and medical bills if you’re found liable for someone’s injuries or property damage in court. |
|
Medical Payments Coverage |
Medical payments coverage is designed to cover minor medical expenses if someone gets hurt around your property, regardless of fault. |
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.
How to Get Homeowners Insurance Quotes in The Villages, Florida
Comparing rates is the best way to ensure you’re getting a good deal on insurance. At Clovered, we make this easy. Our online quote engine lets you compare policy quotes tailored to you from top providers in the state at no cost. We want to help you get the coverage you need at the price you want.
If you have any questions or would rather quote on the phone, feel free to contact one of our licensed and experienced agents at 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. or email us anytime 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.
The Villages Home Insurance FAQs
Is homeowners insurance in The Villages required?
What is wind mitigation in The Villages?
Wind mitigation features, such as a hip roof, water-resistant sealing, and impact-resistant windows, help strengthen homes against damage from strong winds, like those from hurricanes. Insurers are required by law to reward homeowners whose houses have effective wind mitigation measures with a steep discount on premiums.
What factors affect The Villages home insurance rates?
Other than wind mitigation and how old your house is, insurance companies look at a plethora of factors to determine your premium, like your location and your claims history. Home age, size, and construction materials are also important as they influence your house’s likelihood of suffering property damage.
Do you need flood insurance in The Villages, Florida?
You only need a flood insurance policy in The Villages if your lender requires one, which occurs if your house is in a flood zone as determined by the Federal Emergency Management Agency (FEMA). The Villages community contains a few of these, but even houses outside these areas are in danger. FEMA reports that about a quarter of flood insurance claims come from properties outside their labeled flood zones.
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.
