Clovered's COVID-19 Response
  • Homeowner
  • /
  • Homeowners Insurance in The Villages, FL: Costs & More

Homeowners Insurance in The Villages, FL: Costs & More

By John Miceli

article views 29
article share count 0
article header image

As a retirement paradise full of shopping, dining and recreational facilities in organized communities spanning over 30 square miles in Central Florida, The Villages is one of the fastest-growing cities in the United States.

The community does its best to alleviate the stress of its retired residents with all the amenities you can think of, but there’s one concern that homeowners can’t quite shake.

The threat of natural disaster is always a concern in Florida, and it’s a main determinant of the cost of homeowners insurance in The Villages. Fortunately, the city’s inland location in the center of the state shields it from major hurricane damage, but there are other severe weather hazards to worry about.

Let’s take a look at the average cost of homeowners insurance in The Villages, Florida and what exactly impacts rates.

Average Cost of Homeowners Insurance in The Villages, Florida

Home insurance in The Villages costs an average of $1,444 per year for a $150,000 house. This is cheap for Florida since the average cost of homeowners insurance in the state is $2,043 per year for a $150,000 home. 

We got this number for The Villages by examining what many top providers in the state charge on average for a premium. Let’s take a look below.

Average Homeowners Insurance Cost in The Villages for a $150,000 House


ASI$1,211
Citizens$980
FedNat$1,914
Florida Penn$1,480
Liberty Mutual$1,432
People’s Trust$1,272
State Farm$2,327
UPCIC$937
Average$1,444

As you can see, State Farm is the only insurance company in The Villages whose rates come in above the state average. Citizens Insurance and Universal Property & Casualty seem to have the most affordable premiums in the city. 

Let’s break down home insurance in The Villages even more, accounting for two important factors that providers look at: wind mitigation and the age of your home.

☘ $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

$1,082
$811
$1,609
$1,425
$1,291
$1,117
$2,244
$769
$1,294

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

$1,630
$1,300
$2,490
$1,855
$1,704
$1,772
$2,820
$1,325
$1,862

$150,000 Value 2001-Present Construction

$922
$830
$1,644
$1,161
$1,300
$926
$1,916
$718
$1,177

*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 The Villages.

It’s Time to Switch Your Homeowners Insurance

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

Wind mitigation is important in Florida because of the devastation hurricanes have caused to properties in the past. Insurers are required by law to reward homeowners whose houses have effective wind mitigation measures with a steep discount on premiums.

The age of your home is also important. Newer homes have a smaller risk of having structural issues as a result of wear and tear, and they’re already built with some wind mitigation measures in place. 

Houses in The Village tend to be pretty reasonably priced. But $150,000 worth of coverage may not be enough for some residents. Let’s take a look at what $300,000 of home insurance in The Villages costs and if wind mitigation still provides a similar level of savings.

Average Homeowners Insurance Cost in The Villages for a $300,000 House


ASI$2,423
Citizens$1,961
FedNat$3,828
Florida Penn$2,960
Liberty Mutual$2,863
People’s Trust$2,543
State Farm$4,653
UPCIC$1,874
Average$2,888

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

$2,164
$1,622
$3,218
$2,850
$2,582
$2,234
$4,488
$1,538
$2,587

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

$3,260
$2,600
$4,980
$3,710
$3,408
$3,544
$5,640
$2,650
$3,724

$300,000 Value 2001-Present Construction

$1,844
$1,660
$3,287
$2,321
$2,600
$1,851
$3,831
$1,435
$2,354

What Does Homeowners Insurance in The Villages, Florida Cover?

We’ve broken down the costs of home insurance in The Villages at two common coverage levels. It costs less than most coastal places in the state, 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:

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.

It’s Time to Switch Your Homeowners Insurance

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

More Cost Factors of Homeowners Insurance in The Villages

Other than wind mitigation and how old your house is, insurance companies look at a plethora of factors to determine your premium. Some of these are more obvious than others. While it varies slightly from company to company, there are some determinants that insurers consider across the board.

One of these is your claims history. If you’ve filed a lot of claims in the past, your rate will almost certainly be higher. Some claim types influence your premium less than others, but the general rule of thumb is the more claims you file, the more you’ll pay for insurance since you present a greater financial risk for the provider.

The location of your house is also important in a number of ways. Insurance companies will look at crime trends in your neighborhood. Usually, homes in safer areas tend to have lower premiums. In Florida, a major aspect of your house location is the likelihood of severe weather. Homeowners insurance in The Villages almost certainly reflects the following weather-related hazards.

Flooding in The Villages, Florida

Every Florida resident has to deal with rain year-round. It’s no different in The Villages. Flood damage can be incredibly costly, and many homeowners aren’t aware that homeowners insurance doesn’t cover it.

 Persistent rainfall has caused flooding in The Villages in the past. Last year, almost half of the community’s 36 golf courses were closed after they became inundated with water after heavy rains. If you want your home and property to be protected from flooding in The Villages, you’d need a flood insurance policy.

No home is ever fully safe from flooding, especially in Florida. The Villages community contains some federally-designated flood zones, 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?

Hurricane Damage in The Villages, Florida

Although it’s located away from either coast of the state, The Villages isn’t immune to hurricane damage. Hurricane Irma left its mark in 2017, hitting the area as a category 1 storm that damaged homes, downed trees and power lines, and knocked out power for many.

Fortunately, homeowner insurance will protect from most instances of hurricane damage in The Villages. Windstorms, like hurricanes and tornadoes, are a named peril that most plans safeguard from.

Due to the extensive havoc a hurricane can cause, Florida homeowners have to deal with a hurricane deductible when filing for a hurricane damage claim. Instead of being a set dollar amount, like $500 or $1,500 often associated with home insurance deductibles, hurricane deductibles are a percentage of your home’s dwelling coverage.

Sinkholes in the Villages, Florida

Perhaps the most pervasive issue in The Villages is an unexpected one: sinkholes. Sinkholes happen more often in Florida than in any other state, and central Florida is a hotbed for them.

The porous limestone that makes up the earth under The Villages can be whittled away by water until the surface becomes weak enough to collapse, forming a sinkhole.

Sinkholes in The Villages are only covered by home insurance in the most serious of cases, like if one damaged the structure of your home so much that it had to be evacuated. Most sinkholes won’t be covered by your policy, and you’d need to purchase extra sinkhole coverage to be totally protected.

How to Save on Homeowners Insurance in The Villages

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 quotes for a policy tailored just for 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, 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 Villages’ top homeowners insurance companies so you can get a custom policy at an affordable price.