Florence Homeowners Insurance

  • Homeowner
  • /
  • Florence Homeowners Insurance

Nestled in the north of Alabama on the Tennessee River, Florence is a slice of whistling pine outdoor paradise. It’s the largest city in the Florence-Muscle Shoals metropolitan area and is home to the University of North Alabama.

Nearly 40,000 residents call the city home and many more converge on the beauty of its shores along the Wilson Lake and Tennessee River during the spring and summer. But due to its location in northern Alabama along the river and its climate, homeowners insurance is actually a bit more expensive here than in other parts of the state.

What’s the Average Cost of Homeowners Insurance in Florence, Alabama?

The average cost of homeowners insurance in Florence, Alabama is $1,386 for a $150,000 house and $2,245 for a $300,000 house, which is actually slightly higher than the state’s average. The reasoning for the increase in cost is due to its location.

Florence faces a litany of harsh-weather events, from weakening hurricane winds that blow in from the Gulf of Mexico to spawning tornadoes during the temperate times of the year. While both of those risks are typically considered to be covered perils, insurers must increase the cost of homeowners insurance to help offset the potential payouts from home insurance claims.

Although those risks are imminent, there are many other factors that go into pricing premiums. We’ll go over the vast majority of them, and add more color to the costs, companies in the area and much more.

Average Premium Price for Homeowners Insurance in Florence, Alabama

State Farm$2,075

Alabama Department of Insurance Rating Factors

The numbers in this article are from the Alabama Department of Insurance. The premiums provided here do not include surcharges or discounts that may apply to a particular policy. These are real premiums, but they may vary depending on many factors.

Policy Type

The rates utilized are for an HO-3 Special Form, the most common type of homeowners insurance policy. The HO-3 covers houses on an “all-risks” basis, protecting property from 16 perils. Certain named exclusions, such as floods and earthquakes, are not covered.

Coverage Amounts

The amount of coverage you need is determined by the value of your home. The annual premiums are calculated based on $150,000 or $300,000 of dwelling coverage for 10-year-old houses with brick construction, a $500 deductible, no policy lapses and a premium paid in full.

Credit Score

The policyholder represented is a 40-year-old with a 710 credit score. Insurers in most states use credit rating as an indicator of your ability to pay your premiums on time. Having a bad credit score (below 600) may cause you to pay more for home insurance than someone with a good credit score (700+).

Home Protection

The rates represent houses that have smoke detectors and deadbolt locks with no other protective devices and no claims history. Many homeowners insurance companies may offer additional discounts to policyholders that protect their house with security systems or other features.

Analyzing the Cost of Homeowners Insurance in Florence, Alabama

The numbers in this article are primarily based upon the above rating factors from the Alabama Department of Insurance. Another extremely important rating factor is your home’s construction type. Homes made of masonry materials are typically more affordable to insure than homes made of wood.

Masonry materials, such as brick and concrete, hold up better to the elements, like heavy winds, than wood homes. They’re also a bit less likely to sustain substantial fire damage to the structure itself. But one of the more key factors is the price of the home.

The more expensive a home, the more it’s going to cost to insure because the overall damage is likely to be more expensive. Let’s take a look at what you can expect to pay for homeowners insurance for a $150,000 house and a $300,000 house.

Average Premium Price for Homeowners Insurance in Florence, Alabama for a $150,000 House

State Farm$1,724

Average Premium Price for Homeowners Insurance in Florence, Alabama for a $300,000 House

State Farm$2,426

As you can see from the numbers above, there’s a possibility to get extremely affordable homeowners insurance that’s well below both the state and national average. Travelers, one of our insurance partners, is by far the most affordable homeowners insurance provider in Florence, averaging just $560 per year for $150,000 homes and $1,014 for $300,000 homes.

The next most affordable policies come from Allstate and Safeco, another one of our partners. Allstate comes in at $811 and $1,426 per year while Safeco is $931 and $1,631 per year. Those three round out the most affordable average prices, but that doesn’t mean you can’t get an affordable policy elsewhere.

Since we’re an insurance agency, we partner with many of the top insurance carriers in Alabama — including in Florence — so we can shop around for our customers and get them the best policy at the best price.

One of our partners that didn’t submit rates is Universal Property & Casualty Insurance Company, which is one of the largest property insurers in the country and can typically offer some pretty affordable rates in the Heart of Dixie.

It’s Time to Switch Your Homeowners Insurance

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

How to Choose From the Top Insurance Companies in Florence, Alabama

When trying to choose a policy from the top insurers in Florence — such as Alfa, Farmers, Allstate, State Farm or Nationwide — utilizing Clovered is likely your best bet. Since we partner with many of the top insurance companies in Florence, Alabama, we can usually find an affordable policy that fits your needs.

What are those needs? Well, a standard homeowners insurance policy comes equipped with six different coverages relating to your house, personal belongings, property and some other variables. Depending on the type of policy you choose, it also covers you from 16 different perils.

Some policies cover more and some cover less, but the HO-3, the most commonly sold policy, protects against 16 perils. Let’s take a look at the different types of coverage you can expect from every homeowners policy.

What Does Home Insurance Florence, Alabama Cover?

Dwelling: This coverage protects the actual structure of your home. This coverage comes in two forms, replacement cost and market value. Replacement cost coverage is the exact amount it would cost to rebuild your home, including all external features like a pool and outdoor kitchen, if it were entirely destroyed. Market value coverage incorporates the value of your home and property as it sat before the home was destroyed.

Other Structures: The second form of property protection is other structures coverage. It’s exactly what it sounds like. This coverage pays to repair or replace structures on your property that aren’t connected to your house. These are things like detached garages, carports and fences.

Its maximum coverage per claim is typically up to 10% of your dwelling value. So homeowners with $150,000 in dwelling coverage would have $15,000 in other structures coverage and homeowners with $300,000 in dwelling coverage would have $30,000 in other structures coverage.

Personal Property: This is designed to protect the personal belongings you keep inside your home and on your property. These are things like furniture, electronics, clothes and jewelry. You get to choose how much coverage you enroll in, so you’ll want the maximums to match the value of all your belongings combined.

The easiest way to determine the value of your belongings is to compile a home inventory of your contents. But keep in mind that high-value items like jewelry, art and collectibles have different coverage outlines than your other belongings. They’ll need to be scheduled in order to receive coverage for their total value.

Loss of Use: This can reimburse you for additional living expenses you incur while you’re forced out of your home. These are expenses like a rental home of equivalent value, storage fees for extra belongings and pet boarding for your furry family members.

Liability: This kicks in if someone is injured on your property, your pet bites someone on or off your property, or if you accidentally damage someone else’s property. While policies typically come standard with at least $100,000 worth of coverage, policyholders get to determine the amount of coverage they need.

Medical Payments: This covers minor medical expenses for people injured on your property. But, unlike liability coverage, it doesn’t matter if you’re found liable.

How to Get Homeowners Insurance in Florence, Alabama

Getting an affordable homeowners insurance policy in Florence is quick and easy when you use Clovered. Simply enter a few details about your home in our online quoting tool, we’ll do all the hard work on the back end and then we’ll pair you with a policy that fits your needs and your budget.

We’re always here to help. If you’d rather speak to a licensed agent on the phone, just call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. Or you can email us anytime at agent@clovered.com.

It’s Time to Switch Your Homeowners Insurance

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

Getting Flood Insurance in Florence, Alabama

Flood damage isn’t covered by homeowners insurance, so you’ll need a separate flood insurance policy to be covered from the costly perils caused by floods. Since they’re fairly common in Florence, and extremely costly, securing a policy to protect 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?

It's Time to Switch Your Homeowners Insurance

We partner with the nation's top homeowners insurance companies so you can get a custom policy at an affordable price.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

Scroll back to Top