Clovered's COVID-19 Response
  • Homeowner
  • /
  • Homeowners Insurance in Palm Coast, FL: Rates, Costs & More

Homeowners Insurance in Palm Coast, FL: Rates, Costs & More

By John Miceli

article views 16
article share count 0
article header image

Palm Coast is the most populous city in Flagler County. Although it was only incorporated in 1999, the town can trace its origins to the 1960s. It has flourished into a popular community with top-notch golfing and picturesque beaches nearby. If you want more action, it helps that St. Augustine to the north and Daytona Beach to the south are only short drives away.

Residents of Palm Coast enjoy easy living. This outlook seems to carry over to homeowners insurance costs, too, as rates in the city are very affordable relative to the rest of the state.

Average Cost of Homeowners Insurance in Palm Coast, Florida

The average cost of homeowners insurance in Palm Coast, Florida is $1,513 a year for a $150,000 house. This is below the state average premium of $2,043 per year.

In general, Florida has the highest home insurance rates in the country due to the prevalence of severe weather risks like hurricanes and floods. While Palm Coast is certainly susceptible to these disasters, it isn’t heavily reflected in their premium prices. Let’s take a look at how much Palm Coast homeowners insurance costs.

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


ASI$1,598
Citizens$1,021
FedNat$1,566
Florida Penn$1,521
Liberty Mutual$1,906
People’s Trust$1,449
State Farm$1,707
UPCIC$1,336
Average$1,513

We’ve just looked at the averages of some top homeowners insurance companies in Palm Coast. At first glance, Citizens and Universal Property & Casualty seem to be the most affordable. Let’s provide more context to better understand what influences the cost of a premium.

☘ $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

$1,416
$726
$1,114
$1,347
$1,738
$1,099
$1,585
$966
$1,249

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

$2,196
$1,544
$2,343
$2,094
$2,294
$2,240
$2,145
$2,104
$2,120

$150,000 Value 2001-Present Construction

$1,181
$794
$1,241
$1,122
$1,686
$1,008
$1,391
$939
$1,170

*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 Coast.

It’s Time to Switch Your Homeowners Insurance

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

After diving deeper into the numbers, Citizens and Universal Property & Casualty may be even more affordable than originally thought. These two companies were the only providers that had average premium prices in any category come in at under $1,000 a year, although People’s Trust came very close. 

This information is useful, but it might be hard to find a property to fit your needs for just $150,000. Flagler County is one of the fastest-growing in Florida, and properties in Palm Coast will become bigger and more expensive through the years. So, let’s take a look at what $300,000 worth of homeowners insurance in Palm Coast, Florida.

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


ASI$3,195
Citizens$2,042
FedNat$3,132
Florida Penn$3,042
Liberty Mutual$3,812
People’s Trust$2,898
State Farm$3,414
UPCIC$2,672
Average$3,026

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

$2,832
$1,452
$2,228
$2,694
$3,476
$2,198
$3,170
$1,932
$2,498

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

$4,392
$3,088
$4,686
$4,188
$4,588
$4,480
$4,290
$4,208
$4,240

$300,000 Value 2001-Present Construction

$2,361
$1,587
$2,481
$2,244
$3,372
$2,015
$2,781
$1,877
$2,340

Wind Mitigation in Palm Coast

As you can see from the numbers above, wind mitigation is a crucial factor that can decrease your home insurance in Palm Coast dramatically. The difference between rates on houses with and without wind mitigation was 41%. In other words, wind mitigation can make your Palm Coast homeowners insurance 41% cheaper.

Wind mitigation is so important in Florida because of the large-scale and expensive devastation hurricanes have caused in the past. Building safety codes and standards are important for the safety of residents, and the state wants to reward you for being proactive in preparing your home to withstand strong winds.

Florida law requires insurers to provide discounts on homes with wind mitigation in Palm Coast, and it can save you a lot of money. 

4 More Factors That Influence Palm Coast Homeowners Insurance

As you might imagine, a provider’s job of determining how much to charge for a policy is complex. A company looks at many factors both inside and outside of the policyholder’s control. Although it varies by company, below we’ll highlight four factors that almost certainly play a role in determining the cost of home insurance in Palm Coast, Florida.

1. Age of Your Home

You may have noticed in the numbers above that sometimes newer homes cost less to insure than older ones. This is because newer homes have to be up to the latest building code standards and are often constructed with some wind mitigation measures, which can save you money on premiums.

2. Condition of Your Roof

A few aspects of your roof can influence your home insurance in Palm Coast. It might not surprise you that having an older roof can negatively affect your rate. An older roof has accumulated more wear and tear, which makes it more likely to have or cause a structural issue. Also, the materials your roof is made of and the shape of your roof are important.

3. Your Claims History

Generally, the more claims you file, the higher your home insurance rate will become. It might seem unfair that you’re being punished with a higher premium for invoking your insurance when you needed it. But if you’ve filed multiple claims in a short time period, you prevent a greater financial risk to your insurer.

4. The Extent of Coverage and Deductible You Choose

It’s perhaps the most obvious factor, but the amount of coverage you enroll in affects how much you pay for homeowners insurance. It’s wise to insure your home for its replacement cost, which is likely higher for bigger, more expensive houses. Also, raising or lowering your deductible is a straightforward way to change the cost of your premium.

Palm Coast Homeowners Insurance Coverages

Just as your homeowners insurance plan is affected by many factors, it also includes many facets of coverage. Homeowners insurance is a worthwhile investment for so many people because it provides needed financial protection in case of a disaster that we wouldn’t normally account for or expect.

If you purchase your Palm Coast homeowners insurance through Clovered, here are the coverage areas you can count on:

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 Zones in Palm Coast, Florida

Since there’s a barrier of natural low-lying wetlands between Palm Coast and the eastern shoreline of Florida, the town doesn’t have many federally designated flood zones.

Still, flooding can happen on any property at any time, especially when the property is in a place where heavy rainfall is seasonal and tropical storms or hurricanes are a threat for nearly half of the year.

Homeowners insurance doesn’t cover damage from flooding. FEMA reports that over 20% of all National Flood Insurance Program (NFIP) claims come from homeowners outside of mapped high-risk flood areas. The city website recommends flood insurance for all its residents since it’s such a common and expensive disaster even in places outside of flood zones in Palm Coast.

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 Palm Coast, Florida

As we touched on earlier, hurricane damage in Palm Coast, Florida is always a worry. Just recently, homes in the town were damaged by Hurricane Matthew in 2016 and Irma in 2017.

A standard homeowners insurance plan covers most instances of hurricane damage. Wind-related claims are one of the most common home insurance claims filed, hence the importance of wind mitigation. Coverage related to hurricanes encompasses the structure of your home, features on your property like sheds and fences, and your personal belongings.

Home Insurance Agencies in Palm Coast, Florida

Clovered is an online insurance agency that can pair you with a tailored policy from our online quote engine that allows you to compare rates of top providers in the state. You can get a quote in minutes on your phone or computer from the comfort of your home 

If you’d prefer to talk to a member of our team of licensed agents, please call 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 Palm Coast’s top homeowners insurance companies so you can get a custom policy at an affordable price.