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Homeowners Insurance in Palm Beach Gardens: Rates, Factors

By John Miceli

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Palm Beach Gardens is a high-end town just south of Jupiter with the luxurious Palm Beach to the east. Starting in the 1960s, what was once cattle ranches, pine forests and swamp gradually became developed into the gated communities and golf courses that make up the area today.

With the yearly Honda Classic and the PGA Mall being big draws to the town, Palm Beach Gardens is a place for leisure. But, the lifestyle comes at a bit of a price in terms of home insurance.

Homeowners insurance in Palm Beach Gardens is expensive due to the area’s risk of getting hit by a hurricane or inundated by floodwaters.

Average Cost of Homeowners Insurance in Palm Beach Gardens, Florida

Home insurance in Palm Beach Gardens, Florida averages $4,030 per year for a $150,000 house. This is notably higher than the average Florida homeowners insurance, which is $2,043 a year. 

Florida overall tends to have some of the most expensive homeowners insurance in the country. The combination of inclement weather and relatively high property values causes costly premiums. Let’s take a look at how much home insurance in Palm Beach Gardens can be:

Average Homeowners Insurance Cost in Palm Beach Gardens for a $150,000 House


ASI$4,458
Citizens$3,550
FedNat$2,959
Florida Penn$4,615
Liberty Mutual$3,529
People’s Trust$5,004
State Farm$3,638
UPCIC$4,491
Average$4,030

These numbers provide useful insight, but they don’t reflect how the age of your home and wind mitigation can affect homeowners insurance in Palm Beach Gardens. These are two important factors out of many that affect insurance rates. Generally, older homes with no wind mitigation cost the most to insure. Let’s take a closer look below:

☘ $150,000 Value – Pre-2001 Construction w/ Wind Mitigation: This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for maximum wind mitigation features.

☘ $150,000 Value – Pre-2001 Construction w/ No Wind Mitigation: This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for no wind mitigation features.

☘ $150,000 Value – 2001-Present Construction: This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, no claims in the past three years, and minimum premium discounts for limited wind mitigation features and no hip roof.

*Wind Mitigation: A wind mitigation is any protection on your home that helps decrease the damage caused by strong winds like a hurricane. This can include certain roof attachments and coverings, extra water-resistant seals and impact-resistant doors and windows. Wind mitigations typically result in deep discounts on your home insurance premiums, so you’ll want to get one.

Homeowners
Insurance
Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

$150,000 Value Pre-2001 Construction
W/ Wind Mitigation

$3,705
$1,773
$1,972
$3,613
$2,362
$2,872
$2,896
$2,456
$2,706

$150,000 Value Pre-2001 Construction
No Wind Mitigation

$6,791
$6,572
$4,619
$7,053
$5,475
$8,751
$5,371
$8,296
$6,616

$150,000 Value 2001-Present Construction

$2,879
$2,306
$2,285
$3,180
$2,751
$3,388
$2,646
$2,721
$2,769

*Insurers are required to send in their average annual homeowners insurance premiums once per year to the Florida Office of Insurance Regulation, so the rates shown above are the average rates you can expect in Palm Beach Gardens.

It’s Time to Switch Your Homeowners Insurance

We partner with Palm Beach Gardens’ top homeowners insurance companies so you can get a custom policy at an affordable price.

While this information gives a useful foundation, it would be hard to find a piece of property for that price in Palm Beach Gardens — and in Palm Beach County in general. Depending on what website you look at, the median home price is between $375,000 and $440,000. 

What a house is selling for doesn’t equal the amount of coverage you need, but it’s clear that homes and properties tend to be bigger in Palm Beach Gardens, meaning you’ve got more to insure. Let’s break down the costs of $300,000 worth of home insurance in the city.

Average Homeowners Insurance Cost in Palm Beach Gardens for a $300,000 House


ASI$8,917
Citizens$7,100
FedNat$5,917
Florida Penn$9,230
Liberty Mutual$7,058
People’s Trust$10,007
State Farm$7,275
UPCIC$8,982
Average$8,061

Homeowners
Insurance
Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

$150,000 Value Pre-2001 Construction
W/ Wind Mitigation

$7,410
$3,546
$3,944
$7,226
$4,724
$5,744
$5,792
$4,912
$5,412

$150,000 Value Pre-2001 Construction
No Wind Mitigation

$13,582
$13,144
$9,238
$14,106
$10,950
$17,502
$10,742
$16,592
$13,232

$150,000 Value 2001-Present Construction

$5,758
$4,611
$4,570
$6,359
$5,501
$6,776
$5,292
$5,442
$5,539

These numbers are certainly pretty high, but you’ll notice that wind mitigation can greatly reduce rates. On average, the difference in premiums for homes with and without wind mitigation was over 100%.

For example, an older home insured by Universal Property & Casualty for $300,000 with effective wind mitigating measures came to a cost of $4,912 every year. But, this same house without the wind mitigation was$16,592 per year, over three times as much per year.

This is a testament to how serious Florida lawmakers and insurance companies take the threat of hurricanes. The government stipulates that residents who are proactive in guarding their homes against strong winds must be rewarded by insurers with discounted premiums.

To take the first step of wind mitigation, you’d have to get a wind mitigation inspection done on your home. This likely wouldn’t cost more than a couple of hundred dollars and could lead to thousands in savings.

Coverages of Home Insurance in Palm Beach Gardens, Florida

If you purchase a policy through Clovered, which is the best way to shop for insurance policies and compare quotes online, your homeowners insurance in Palm Beach Gardens includes the following coverages:

Dwelling: Covers your home’s structure and the things that help create it, including the fireplace, windows, doors and flooring.

Other Structures: Covers structures on your property not attached to your house, such as a fence, detached garage, carport or shed.

Personal Property: Covers the personal belongings you keep inside or on your property, such as a TV, electronics, lawnmower and clothes.

Loss of Use: Reimburses you for additional living expenses if you’re forced to move from your home while it’s being rebuilt or repaired.

Liability: Helps to pay for injuries or other property damages that the policyholder is found liable for, such as a broken bone and legal fees.

Medical Payments: Utilized to pay for small medical bills if someone was injured on your property, whether you’re at fault or not.

How to Find an Insurance Agency in Palm Beach Gardens

Clovered is a digital insurance agency that partners with the top insurance providers in the country that write policies in all 50 states. We’re headquartered in Florida and very familiar with the state’s insurance landscape.

We offer an online quote tool that enables you to compare home insurance rates and we’ve got a team of licensed agents ready to help with any questions you may have about your policy.

It’s Time to Switch Your Homeowners Insurance

We partner with Palm Beach Gardens’ top homeowners insurance companies so you can get a custom policy at an affordable price.

What Influences the Cost of Home Insurance in Palm Beach Gardens?

We mentioned the threat of hurricanes, but what else drives up rates in Palm Beach Gardens? Premiums vary on an individual basis, and many residents could be causing their rate to rise without knowing it. For instance, installing a pool or trampoline could increase your premium. 

The age and size of your home and the amount of coverage you enroll in affect the cost of home insurance in Palm Beach Gardens. Also, the deductible you choose plays a role. Some policyholders may be aware that raising your deductible is a quick and easy way to lower your monthly premium.

The amount of claims your provider has seen recently is another obscure factor that could influence rates for homeowners insurance in Palm Beach Gardens. If your insurance company has seen an unexpected influx of claims recently, it may have to pay out a lot of money. To recoup these potential losses, it could raise rates for all members in the future.

After all, insurance companies are profit-driven firms. As you might imagine, this generally irks policyholders. But it’s happened in the past in the state of Florida, and it’s one of the reasons the government created Citizens Insurance, a non-profit provider run by the state.

In addition to the determinants mentioned above, hurricanes and floods also play an important role in the price of home insurance rates in Palm Beach Gardens

Palm Beach Gardens Hurricane Damage

Hurricane preparation is a year-round effort in south Florida. Homeowners always have to be vigilant of a storm on the horizon. In just the last few years, Wilma, Matthew and Dorian have all come dangerously close to hitting the area. All three brought varying levels of wind and rain.

If a serious hurricane does finally hit, you can have at least some peace of mind knowing that your homeowners insurance covers damage from hurricanes and tropical storms. Palm Beach Gardens hurricane damage can be incredibly costly, and it’s better to have insurance than wishing you had it when you really need it.

Flood Insurance in Palm Beach Gardens

Palm Beach Gardens doesn’t have many high-risk flood zones, but flooding is still the most common and costly natural disaster every year in the United States. Several small bodies of water around the town and the usual large amounts of seasonal rainfall in South Florida could spell trouble if you’re not adequately prepared.

Flood insurance protects your property and personal belongings in case of unstoppable flooding damage. It isn’t required by law, but many city and county websites in Florida recommend it to their residents. 

According to the Insurance Information Institute, the average flood claim in 2018 was $42,580. Unless you have this amount of money on hand to pay for repairs after a flood, you may want to consider purchasing flood insurance in Palm Beach Gardens.

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?

How to Save on Home Insurance in Palm Beach Gardens, Florida

Clovered can help you save money on home insurance in Palm Beach Gardens. Our easy-to-use online quote engine can pair you with a policy in a few minutes, and you can compare rates of top providers in the state. We’re backed by some of the best in the business, and we want to help you get the coverage you need at the price you want.

Feel free to call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m for more information, or shoot us an email anytime at agent@clovered.com and a licensed and experienced agent will get back to you.

It’s Time to Switch Your Homeowners Insurance

We partner with Palm Beach Gardens’ top homeowners insurance companies so you can get a custom policy at an affordable price.