Clovered's COVID-19 Response
  • Homeowner
  • /
  • Homeowners Insurance Fort Lauderdale, FL: Rates, Quotes, More

Homeowners Insurance Fort Lauderdale, FL: Rates, Quotes, More

By Jarrod Heil

article views 463
article share count 0
article header image

Fort Lauderdale is well known for its world-class beaches, nightlife along Las Olas Boulevard and millions of tourists who visit the city each year. But for those lucky enough to own homes in one of the most beautiful parts of Florida — and one of the epicenters of tourism in the United States — many things can damage a home.

Hurricanes and flooding in Fort Lauderdale are huge concerns, as are unexpected house fires, tornadoes, torrential rains and, unfortunately, burglary are real concerns for nearly every homeowner who lives in Florida’s 10th most-populated city.

Due to these perils, which may or not be covered by homeowners insurance in certain circumstances, the average cost of homeowners insurance in Florida is among the highest in the nation — and Fort Lauderdale’s prices only add fuel to that flame.

Average Cost of Homeowners Insurance in Fort Lauderdale, Florida

The average cost of homeowners insurance in Fort Lauderdale is $4,688 for a home that’s worth $150,000. That’s well above the state’s average for a similarly priced home, which is around $2,043 per year. But many factors, including your home’s value and which neighborhood of the city you live in, can affect your yearly cost.

Average Homeowners Insurance Cost in Fort Lauderdale for a $150,000 House


ASI$5,379
Citizens$3,497
FedNat$3,605
Florida Penn$6,188
Liberty Mutual$3,688
People’s Trust$6,648
State Farm$3,857
UPCIC$4,644
Average$4,688

While those numbers may look a bit high, the most important factors relating to your premium prices aren’t just hurricanes and your home’s value, but also what year your home was built in and if your home has sufficient protection against those high-speed hurricane winds that come knocking down parts of the city every year.

☘ $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

$4,570
$2,276
$2,668
$5,084
$2,503
$3,817
$3,352
$2,658
$3,366

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

$7,974
$5,885
$5,510
$9,397
$5,700
$12,536
$5,644
$8,861
$7,688

$150,000 Value 2001-Present Construction

$3,594
$2,331
$2,637
$4,083
$2,862
$3,591
$2,575
$2,412
$3,010

*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 Fort Lauderdale.

It’s Time to Switch Your Homeowners Insurance

We partner with Fort Lauderdale’s top homeowners insurance companies so you can get a custom policy at an affordable price.

Since many of the lesser expensive homes in Fort Lauderdale were built before 2001, which is when the state put building code legislation in place to help prevent extensive damage from hurricanes and heavy winds, getting a wind mitigation can decrease your premium prices significantly.

As the numbers above reflect, homeowners in Fort Lauderdale with homes built before 2001 can get pretty close to the premiums of homeowners who own homes built after 2001 if they just get a wind mitigation.

To get the proper wind mitigation discounts on your Fort Lauderdale homeowners insurance, you must prove that your home has hurricane shutters, wind-resistant windows and doors and a hip roof that helps drive winds away from your home. While getting a new roof is the most expensive addition on the list, it will also save you the most money.

But finding a house in Fort Lauderdale for $150,000 is going to be a tall task, especially since more and more people are moving into the city and nearly all the land is already spoken for. Let’s take a look at the average cost of homeowners insurance in Fort Lauderdale for $300,000 houses.

Average Homeowners Insurance Cost in Fort Lauderdale for a $300,000 House


ASI$10,758
Citizens$6,995
FedNat$7,210
Florida Penn$12,376
Liberty Mutual$7,376
People’s Trust$13,296
State Farm$7,714
UPCIC$9,287
Average$9,376

Homeowners
Insurance
Company

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

$300,000 Value Pre-2001 Construction
W/ Wind Mitigation

$9,140
$4,552
$5,336
$10,168
$5,006
$7,634
$6,704
$5,316
$6,732

$300,000 Value Pre-2001 Construction
No Wind Mitigation

$15,948
$11,770
$11,020
$18,794
$11,400
$25,072
$11,288
$17,722
$15,377

$300,000 Value 2001-Present Construction

$7,187
$4,662
$5,274
$8,165
$5,723
$7,181
$5,149
$4,824
$6,021

At an overall average of $9,376 for all homes, including $6,021 for newer constructed homes and $6,732 for pre-2001 homes with wind mitigations, the prices are inflated for those homeowners who haven’t taken the necessary steps to protect their homes against hurricane winds — which will cost homeowners a pretty penny on their premiums.

It’s Time to Switch Your Homeowners Insurance

We partner with Fort Lauderdale’s top homeowners insurance companies so you can get a custom policy at an affordable price.

Best Homeowners Insurance Companies in Fort Lauderdale

The best homeowners insurance companies in Fort Lauderdale by cost are Citizens, which is a state-run home insurance company that may not be your best option, FedNat, Liberty Mutual, State Farm and Universal Property & Casualty Insurance Company. They all tip the scale at less than $5,000 per year for premiums on a $150,000 house.

Universal Property Insurance in Fort Lauderdale, Florida

Headquartered in Fort Lauderdale, Florida, Universal Property & Casualty Insurance Company is one of the city’s most popular insurers due to their excellent customer service and great rates. The company has been servicing the Fort Lauderdale area for more than 20 years and has more than 800,000 policyholders.

Factors to Consider for Homeowners Insurance in Fort Lauderdale

Aside from uncontrollable weather-related events, like its location on the Atlantic Ocean in one of the most hurricane-prone parts of Florida, several other factors contribute to homeowners insurance rates in Fort Lauderdale. Let’s take a look at the most impactful factors you may be able to control:


Fort Lauderdale Homeowners Insurance Coverages

Home insurance in Fort Lauderdale covers a multitude of factors that extend well beyond the structure of your home. While things like your roof, floors, kitchen and bathrooms are most commonly thought of when people think about homeowners insurance, let’s dive into the other facets of your policy you’ll want to know about.

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.

Flood Insurance Fort Lauderdale, Florida

Since Fort Lauderdale is only a few feet above sea level and it’s surrounded by water, from the Atlantic Ocean to the Intracoastal waterways and the New River that cuts directly through downtown off Las Olas, flooding is a major concern for the city’s residents.

Unfortunately, flood damage isn’t covered by homeowners insurance. You’ll need to purchase a separate flood insurance policy, which we can help you with as well!

Flood insurance protects your house and your personal belongings against many instances of flooding, including overflowing rivers, storm surge and heavy rains that overwhelm the city’s sewage system and find their way into your home.

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?

Get a Quote From the Best Home Insurance Agency in Fort Lauderdale

At Clovered, we’ve partnered with Fort Lauderdale’s top homeowners insurance providers so we can provide you with the coverage you need at the best price. Simply answer a few questions about your home in our online quoting tool and we’ll customize a policy that meets your needs — and your budget.

If you’d just like to chat with a real person, you can also reach one of our licensed agents by phone Monday through Friday from 8:30 a.m. to 6 p.m. at 833-255-4117 or email us anytime at agent@clovered.com.

It’s Time to Switch Your Homeowners Insurance

We partner with Fort Lauderdale’s top homeowners insurance companies so you can get a custom policy at an affordable price.