Homeowners Insurance in Altamonte Springs, Florida

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  • Homeowners Insurance in Altamonte Springs, Florida

Altamonte Springs, a suburb of Orlando, is comfortably nestled into Central Florida’s greenery and lakes. Its central location helps shield it from hurricanes, which helps lower home insurance rates in the state.

Homeowners insurance is the best financial safety net you can have to protect your property, and you need to have it as long as you have a mortgage.

We created this comprehensive guide to make shopping for the best home insurance in Altamonte Springs easy. We break down average rates, cost factors, and much more.

How Much Is Homeowners Insurance in Altamonte Springs, Florida?

The average cost of homeowners insurance in Altamonte Springs is about $2,848 annually on a $150,000 house, $5,088 on a $300,000 house, and $7,330 on a $450,000 house.

While Florida has the highest home insurance rates in the nation, Altamonte Springs residents will be happy to know that rates in the city are about 7% below the state average, likely due to the town’s location. Coastal cities tend to have higher rates since they’re more prone to hurricane damage.

For more information, the table below lists the average Altamonte Springs home insurance cost from several top companies.

Average Cost of Homeowners Insurance in Altamonte Springs 
Company $150,000 House $300,000 House $450,000 House
Allstate $2,002 $3,575 $5,150
Citizens $1,232 $2,197 $3,164
Florida Penn $2,207 $3,940 $5,675
Liberty Mutual $1,824 $3,253 $4,684
People’s Trust $3,411 $6,091 $8,773
Southern Oak $3,250 $5,816 $8,385
State Farm $2,388 $4,268 $6,151
Stillwater $1,030 $1,842 $2,654
Universal Property $2,250 $4,020 $5,793
Average $2,848 $5,088 $7,330

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.

Insurers evaluate many aspects of your home to help determine insurance rates. A primary factor is home value. Companies usually utilize your home’s replacement cost — how much it would cost to rebuild, considering materials and labor – as a basis of your policy. Larger, nicer homes cost more to insure.

Home age is another significant rate factor. Older homes are susceptible to wear and tear, and their construction may not meet current building codes and safety standards. These characteristics increase the likelihood of property damage, which raises the financial risk of your home. 

Hurricanes are a major concern for insurance companies throughout Florida. Homes with wind-resistant features, such as impact-resistant windows, reinforced roofs, and hurricane shutters, are better equipped to withstand wind damage, and insurance providers often offer discounts to homeowners with such wind mitigation features in place.

The following table illustrates the effects home age and wind mitigation can have on your insurance rates in Altamonte Springs at every home price level, starting with $150,000 houses.

Cost of Homeowners Insurance on $150,000 House in Altamonte Springs 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $2,463 $1,926 $1,616
Citizens $1,560 $989 $1,146
Florida Penn $2,717 $2,036 $1,867
Liberty Mutual $2,118 $1,578 $1,777
People’s Trust $4,302 $3,055 $2,877
Southern Oak $4,760 $2,995 $1,996
State Farm $3,316 $2,084 $1,765
Stillwater $1,458 $916 $716
Universal Property $3,511 $1,502 $1,738
Average $3,858 $2,403 $2,284

The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the most recent rate filings from the state’s largest insurers and can be utilized as an average of what Floridians can expect to pay for homeowners insurance each year. The example premiums are based on a policy for a Florida masonry home with a $500 non-hurricane deductible, a 2% hurricane deductible and no claims in the past three years.

Florida Office of Insurance Regulation Premium Consideration Factors
Home Construction Coverage Definition
*Wind Mitigation 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.
Pre-2001 Construction w/ No Wind Mitigation These premiums represent homes built before 2001 with no wind mitigation features.
Pre-2001 Construction w/ Wind Mitigation These premiums represent homes built before 2001 with maximum wind mitigation features.
2001-Present Construction These premiums represent homes with limited wind mitigation features and no hip roof built from 2001, when Florida redesigned its building codes and mandated that new construction withstand hurricane-force winds better. 

Wind mitigation reduced average premiums in Altamonte Springs by over $1,000 annually on older homes. Newly constructed houses had the lowest average premiums, demonstrating the importance of building codes and new roofs. Observe premiums in the city for $300,000 homes below.

Cost of Homeowners Insurance on $300,000 House in Altamonte Springs 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $4,433 $3,467 $2,825
Citizens $2,808 $1,780 $2,004
Florida Penn $4,891 $3,665 $3,264
Liberty Mutual $3,812 $2,840 $3,106
People’s Trust $7,744 $5,499 $5,029
Southern Oak $8,568 $5,391 $3,490
State Farm $5,969 $3,751 $3,085
Stillwater $2,624 $1,649 $1,252
Universal Property $6,320 $2,704 $3,038
Average $6,944 $4,325 $3,994

Wind mitigation reduced premiums by about 38% on older $300,000 homes. See how the numbers translate for average homeowners insurance in Altamonte Springs for $450,000 houses in the final table below.

Cost of Homeowners Insurance on $450,000 House in Altamonte Springs 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $6,404 $5,008 $4,040
Citizens $4,056 $2,571 $2,866
Florida Penn $7,064 $5,294 $4,668
Liberty Mutual $5,507 $4,103 $4,442
People’s Trust $11,185 $7,943 $7,191
Southern Oak $12,376 $7,787 $4,991
State Farm $8,622 $5,418 $4,412
Stillwater $3,791 $2,382 $1,790
Universal Property $9,129 $3,905 $4,344
Average $10,031 $6,248 $5,711

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.

Companies With the Cheapest Homeowners Insurance in Altamonte Springs

Stillwater tended to have the cheapest homeowners insurance in Altamonte Springs of the companies we analyzed. However, home insurance rates can vary significantly depending on various factors, so be sure to shop around.

The Stillwater Insurance Group was founded in Jacksonville in 2000 and has expanded its offerings to all 50 states. While not as well known as other national brands like State Farm and Allstate, it’s still a large company.

Sometimes, larger carriers can offer friendlier rates because they can spread their financial risk out among their many policyholders. But, don’t limit your search to only companies. Sometimes, local or regional insurers may offer competitive rates and personalized service. 

You won’t know which company has the cheapest homeowners insurance in Altamonte Springs for your situation until you get quotes. Premiums vary based on location and policyholder. We always recommend people compare options from multiple companies before making their choice.

Altamonte Springs Homeowners Insurance Coverages

Regardless of where you get your insurance, the standard coverages in a home insurance plan tend to stay the same. Policies consist of the following protections:

Altamonte Springs Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage in home insurance provides financial protection for the structure of your home and its components, including the roof, walls, flooring, patio, plumbing, HVAC, and more.
Other Structures Coverage Other structures coverage financially protects features on your property not attached to your main house, such as detached garages, sheds, fences, carports, and more.
Personal Property Coverage Personal property coverage pays to replace or repair your belongings, such as furniture, electronics, clothing, tools, bicycles, and more, in case of a covered loss.
Loss of Use Coverage Loss of use coverage helps pay for temporary living expenses, such as lodging and groceries, if your home becomes uninhabitable after sustaining major damage.
Liability Coverage Liability coverage covers you financially if you’re found legally liable for someone’s injury or property damage. Your insurance company can cover medical bills, legal fees, and more.
Medical Payments Coverage Medical payments coverage is designed to cover minor medical expenses if someone is injured on your property, regardless of fault.

How to Get the Best Homeowners Insurance in Altamonte Springs

To find the best homeowners insurance in Altamonte Springs for your situation, you must know your coverage needs and budget. Then, you should shop around to guarantee you get the best deal.

Know Home Info

You’ll need to know some information about your home for a quote, such as square footage, construction date, roof type, and wind mitigation measures. Recognize how these features can impact your premiums, which we’ll shed some more light on shortly.

You’ll also need to know this information to set the right policy limits. While your insurer generally handles your dwelling and other structure limits, you can adjust your personal property, liability, and loss of use limits. 

Make a home inventory list that values your items to determine the exact amount of personal property coverage you need. Raise or lower your liability limits depending on your financial situation. We recommend having higher liability limits, especially if you own a large dog, just to be safe.

Get Quotes

Getting multiple quotes allows you to find the policy best suited for your property and coverage needs. You’ll also be able to compare rates to find savings and assess company customer service.

You can usually get quotes online or over the phone. Some carriers may not have the capability to fully quote you online due to the many details companies need to know before giving you an accurate estimate. Speaking with a representative or agent can be beneficial for answering questions and finding out more information, anyway.

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.

Find Ways to Save

Price is a significant factor in everyone’s insurance decision. Two helpful steps you can take to save money on the best home insurance in Altamonte Springs are raising your deductible and understanding discounts

Raising your deductible always lowers premiums. Your deductible is the amount you must pay out of pocket before your insurance coverage kicks in when you file a claim. By opting for a higher deductible, you agree to cover a larger portion of the initial costs in a claim. Insurers prefer this and reward policyholders who choose this option with lower premiums. It lowers your home’s financial risk.

You should always ask about discounts for which you can qualify. You can often receive discounts for owning security systems, having a newly built home, and staying claims-free. Discount types and rates might vary by company, so always be sure to ask what’s available.

The biggest discounts often come from bundling, or housing several of your policies with one company. Consider bundling your other insurance policies, such as auto, with your home insurance for savings of 15% to 25%, depending on the carrier. Compare bundling discounts among carriers.

What to Know About Flood Insurance in Altamonte Springs, Florida

We feel it’s necessary to point out that homeowners insurance doesn’t cover flooding damage, such as storm surges, flash flooding, or other rushing water caused by Mother Nature. Home insurance only covers water damage when it comes from inside your home, such as a leaky pipe.

Flooding can happen anywhere. Floods are the most common and costly natural disaster in the country. Due to their frequency and unpredictable severity, home insurers can’t afford to cover floods in homeowners insurance plans.

If you’re concerned about flooding damage, get flood insurance quotes in Altamonte Springs. You might be surprised at a plan’s affordability if you’re in a low-risk area.

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?

Cost Factors of Home Insurance in Altamonte Springs, Florida

Several variables affect the cost of home insurance. Insurers analyze many aspects of policyholders and properties to get a good idea of the property’s risk level. Riskier homes have higher premiums.

Home characteristics such as construction materials and building components can impact rates.

Home features that affect rates include:

  • Roof
  • Pipes
  • Wiring
  • Water heater
  • Siding

Generally, newer components are beneficial to premiums, while old features can raise rates. The wear and danger of outdated construction makes older homes more vulnerable to different types of property damage.

The details of your home insurance policy also impact premiums. Policy limits, deductibles, and endorsements can raise or lower your insurance costs.

Your location is important, too. Homes near the coast or bodies of water tend to have higher premiums since they’re more vulnerable to wind and water damage. Houses in high-crime areas may also see higher rates. Alternatively, living close to a fire station can lower your premiums.

Is Home Insurance Required in Altamonte Springs?

No law requires homeowners insurance in Altamonte Springs. However, if you have a mortgage, your lender will require you to get and maintain a policy for the life of the loan.

Mortgage lenders want to protect their investment in your home. So, they mandate home insurance as part of home loans. This way, they can recoup their money from the insurance company if the house gets destroyed.

If you don’t maintain your own coverage, your lender will force-place property insurance in Altamonte Springs on you. Force-placed coverage is more expensive and less protective than standard coverage. Avoid force-placed insurance by getting your own policy and making your payments on time.

How to Get Homeowners Insurance Quotes in Altamonte Springs, Florida

It might be overwhelming to get homeowners insurance quotes in Altamonte Springs with so much information to keep in mind. Clovered is there for you if you need any help along the way.

Our team at Clovered is based in South Florida, so we know how tricky it can be to find affordable coverage in the state. As an independent insurance agency, we partner with some of the top home insurance companies in Altamonte Springs to help you find the coverage you need at the price you want.

Use our online quoting platform to compare your options, or call our agents at 833-255-4117 during business hours. You can also email us at agent@clovered.com with any questions.

Homeowners
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.

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