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Homeowners Insurance in Lake Worth, Florida

By Jarrod Heil

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Located in the heart of Palm Beach County and adjacent to the Intracoastal waterways, Lake Worth has been the go-to destination for beachside living for many years. Its population and home values have been trending upward in recent years.

The small parcel of land that houses the city comes with a decently high price regarding homeowners insurance in Lake Worth. That’s because only a sliver of land separates the city from the Atlantic Ocean, which is home to destructive hurricanes for nearly five months out of the year.

Although hurricanes are covered in homeowners insurance, the number of claims has a significant impact on the city’s premiums. Many more perils, like tornadoes and unexpected house fires, also impact the price of home insurance in Lake Worth. Let’s take a look at the average cost of homeowners insurance, what it covers and much more.

Average Cost of Homeowners Insurance in Lake Worth, Florida

The average cost of homeowners insurance in Lake Worth, Florida is $4,030 per year for a $150,000 house. That cost may seem relatively high — and it is. That’s because Florida is regularly among the most costly states for home insurance premiums, and that charge is led in large part by the three South Florida counties of Palm Beach, Broward and Miami-Dade.

But just because the averages seem high, that doesn’t mean you won’t be able to find affordable premiums. One of the more easily controllable factors of your premiums is the company you choose. Just like certain stores have higher prices than others, the same can be said about insurance companies. Let’s dive into average premiums for home insurance in Lake Worth by company.

Average Homeowners Insurance Cost in Lake Worth 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

As we previously mentioned, the average premium prices are heavily dictated by the company you choose. However, those premiums are even more heavily weighted by the year your home was built and if it has proper wind mitigation measures in place to prevent damage from those destructive hurricanes that seem to hit Florida each year.

Homes in Florida were seeing an uptick in expensive damage from hurricanes through the years, so in 2001 legislators vowed to do everything in their power to decrease that trend. To do so, they put legislation into place that required builders to meet stricter building codes designed to prevent damage from heavy winds.

So every home in the state built from 2001 to the present day has those wind mitigation measures in place, including impact-resistant doors and windows, which help to reduce the cost of homeowners insurance premiums drastically. Let’s break down the numbers even further to show what you can expect to pay.

☘ $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 Lake Worth.

It’s Time to Switch Your Homeowners Insurance

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

As you can see by the numbers reflected above, the average premiums are nearly cut in half for homeowners with wind mitigation features in effect. Those homes built before 2001 with said features average $2,706 per year — and can pay an average as little as $1,773 with Citizens, the state-run insurer.

For those homeowners with 2001 to present day homes, FedNat’s averages are the most affordable at $2,285 per year for a $150,000 house. It’s also worth noting that many other factors come into play when considering your premiums, like your policy’s coverage amounts and deductible, your claims history and the location of the home and the area’s crime history.

While those averages are drastically lower than the overall numbers for Lake Worth, you may have trouble finding a house inside the city limits for $150,000. So let’s take a look at the numbers for a $300,000 house.

Average Homeowners Insurance Cost in Lake Worth 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

$300,000 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

$300,000 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

$300,000 Value 2001-Present Construction

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

Coverages to Expect From Homeowners Insurance in Lake Worth, Florida

With Lake Worth homeowners insurance, your property is protected from many uncontrollable weather-related events like hurricanes — which is extremely important given the city’s location near the ocean — as well as other unexpected perils like burglary, water damage, dog bites and fires.

But it’s not just your home that’s protected. Your policy also protects your personal belongings, the things that make your house a home and even unexpected bills if something were to occur. But let’s break those down even further with a few examples.

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.

Most Affordable Lake Worth Home Insurance Companies

The most affordable home insurance companies in Lake Worth are Citizens, FedNat, Florida Penn, People’s Trust and Universal Property & Casualty Insurance Company, which are all partners of ours. And since they’re our partners, getting a home insurance quote is much easier for you.

All you need to do is answer a few questions in our online quoting engine, we’ll run some data in the background and then pair you with a policy that fits your needs — and your budget.

Citizens Home Insurance in Lake Worth, Florida

Citizens home insurance is the state-run insurer that caters to homeowners with special requirements. While Citizens is among the most affordable in each category of homeowners insurance, it may not be available to everyone in Lake Worth.

You’ll need to meet specific requirements, like having been denied by other carriers or being a high-risk homeowner to qualify for coverage. But even if you do qualify for Citizens, you may not get all the coverage you need, which is just another reason to enlist Clovered to do the legwork for you.

How to Get the Best Home Insurance in Lake Worth, Florida

When you choose Clovered for your home insurance needs, getting the best homeowners insurance policy is easy. Simply get a fast, free quote through our online quoting engine and we’ll pair you with a policy in just a few minutes.

We reside at the intersection of technology and real people, so we have a team of licensed, in-house sales and service agents ready to help you or answer any questions you may have along the way. You can reach them 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 Lake Worth’s top homeowners insurance companies so you can get a custom policy at an affordable price.