Homeowners Insurance in Apopka, Florida

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  • Homeowners Insurance in Apopka, Florida

Apopka is one of Orlando’s many suburbs, home to tens of thousands of people and growing by the day. Without homeowners insurance, Apopka residents would be responsible for covering any property damage their home sustains out of their own pockets. Depending on the damage, this can be ruinous for those without thousands of extra cash lying around.

We want to help residents find the best homeowners insurance in Apopka. Read on for average costs, rating factors, and other tips for finding the right coverage.

How Much Is Homeowners Insurance in Apopka, Florida?

The average cost of homeowners insurance in Apopka is about $2,956 annually on a $150,000 home, $5,280 on a $300,000 home, and $7,607 on a $450,000 home. 

Florida is the most expensive state for homeowners insurance in the nation for a few reasons, including the generally high property values and overall risk of hurricane damage

However, rates in Apopka are below average in Florida, likely due to the city’s inland location that limits direct hurricane hits and mitigates damage relative to coastal areas where insurance is more expensive.

In an industry where every cent counts, Apopka home insurance rates are about 3% below the state average. For some exact numbers, we included rates from nine common carriers in the city below for homes at three different price levels.

Average Cost of Homeowners Insurance in Apopka
Company $150,000 House $300,000 House $450,000 House
Allstate $1,918 $3,426 $4,936
Citizens $1,452 $2,592 $3,733
Florida Penn $2,210 $3,945 $5,683
Liberty Mutual $1,868 $3,332 $4,798
People’s Trust $3,752 $6,699 $9,649
Southern Oak $3,385 $6,058 $8,733
State Farm $2,388 $4,268 $6,151
Stillwater $1,120 $2,002 $2,885
Universal Property $1,823 $3,256 $4,690
Average $2,956 $5,280 $7,607
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.

Many factors affect insurance premiums, with your home’s value being one of the most important. Insurers assess your home’s replacement cost to serve as a basis for how much insurance your house’s structure needs.

Replacement cost is the amount of money needed to rebuild your home from scratch based on labor and construction expenses. Carriers assess square footage, building materials, fixtures, and more to determine it.

While rates in Apopka vary by company in the table above, average premiums always rose as the home value increased because larger, more expensive homes always have higher replacement costs.

Homeowners insurance costs are a detailed process, and companies must consider more than your home’s value. Two more critical factors that affect a house’s susceptibility to property damage and influence insurance premiums are home age and wind mitigation factors.

We break down the effects of these factors on home insurance for houses at each price level in Apopka, beginning with $150,000 homes in the table below.

Cost of Homeowners Insurance on $150,000 House in Apopka
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $2,421 $1,808 $1,525
Citizens $1,838 $1,220 $1,299
Florida Penn $2,661 $2,077 $1,892
Liberty Mutual $2,219 $1,586 $1,800
People’s Trust $4,766 $3,323 $3,167
Southern Oak $4,990 $3,107 $2,059
State Farm $3,316 $2,084 $1,765
Stillwater $1,577 $1,000 $782
Universal Property $2,637 $1,344 $1,488
Average $4,034 $2,467 $2,367

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. 

Newly built homes and older homes with wind mitigation have lower average premiums than those without wind mitigation. Wind mitigation features are essential in Florida to limit the possible damage from hurricanes and tropical storms, which are major concerns to insurers that can cost millions in claims after even a minor storm.

See how the trend continues on $300,000 homes.

Cost of Homeowners Insurance on $300,000 House in Apopka
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $4,358 $3,254 $2,666
Citizens $3,308 $2,196 $2,271
Florida Penn $4,790 $3,739 $3,307
Liberty Mutual $3,994 $2,855 $3,147
People’s Trust $8,579 $5,981 $5,536
Southern Oak $8,982 $5,593 $3,600
State Farm $5,969 $3,751 $3,085
Stillwater $2,839 $1,800 $1,367
Universal Property $4,747 $2,419 $2,602
Average $7,261 $4,441 $4,138

Wind mitigation reduces insurance rates on older homes in Apopka by about 39%, saving thousands annually. Older homes have the highest premiums because they’re most susceptible to damage. Older roofs don’t withstand hurricanes well. Also, some outdated types of piping and wiring are no longer suitable for construction due to their faultiness, contributing to possible property damage that insurers want to avoid. 

Older houses also just have general wear and tear that can affect many aspects of the home, and some insurers will require an inspection before issuing a policy on an old house.

The final table depicts average Apopka home insurance rates for houses with a replacement cost of $450,000.

Cost of Homeowners Insurance on $450,000 House in Apopka
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $6,295 $4,701 $3,812
Citizens $4,779 $3,172 $3,248
Florida Penn $6,919 $5,400 $4,729
Liberty Mutual $5,769 $4,124 $4,500
People’s Trust $12,392 $8,640 $7,916
Southern Oak $12,974 $8,078 $5,148
State Farm $8,622 $5,418 $4,412
Stillwater $4,100 $2,600 $1,955
Universal Property $6,856 $3,494 $3,721
Average $10,488 $6,415 $5,918
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 Cheap Homeowners Insurance in Apopka

Stillwater and Citizens had the cheapest homeowners insurance in Apopka of the companies on our list. It’s useful to know, but recognize that companies with the lowest rates on average may not always be the cheapest for everyone, as many factors affect rates.

Stillwater is a national insurance carrier that was founded in Jacksonville in 2000. Their rates were the lowest in Apopka on our list at every home price level. You should consider insurance coverage from then when looking for a policy, but don’t make them the only stop on your search. 

It’s crucial to compare quotes from multiple providers to find the cheapest homeowners insurance in Apopka. Rates vary by location, policyholder, and company, and you won’t know which carrier is the most affordable for you until you provide them with some specific home information they need to estimate an exact premium. You can also consult an insurance agent in Apopka for additional help with your search.

Apopka Homeowners Insurance Coverages

Home insurance policies always include the same coverage areas, regardless of which company provides the plan. Homeowners insurance protects your property and liability and is generally divided into six key areas.

Apopka Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially protects the structure of your home, including the roof, walls, flooring, pipes, HVAC, and more.
Other Structures Coverage Other structures coverage accounts for fixtures on your property unattached to the main house, such as pools, fences, sheds, and detached garages.
Personal Property Coverage Personal property coverage guards your belongings, including furniture, clothing, jewelry, and electronics, from theft and damage.
Loss of Use Coverage Loss of use coverage helps pay for living expenses you’d incur if you’re forced to move out of your home after it suffers property damage. Your insurer can cover temporary lodging, groceries, and more.
Liability Coverage Liability coverage covers you financially if someone is injured around your property and pursues you for the damages. Your insurer can pay medical bills, legal fees, and more if you’re found responsible.
Medical Payments Coverage Medical payments coverage is designed to cover minor medical expenses if someone gets hurt, regardless of fault.

The most common type of homeowners insurance is officially called the HO3 policy form, which includes all the above coverage areas. You may be able to purchase a cheaper and more basic home insurance plan, such as an HO1 or HO2 policy, but these are less common and don’t typically satisfy lender requirements, which we’ll explain in detail later.

How to Get the Best Homeowners Insurance in Apopka

The best homeowners insurance in Apopka will address your coverage needs without breaking your budget. Since every home and person differs, there’s no default best policy or company to recommend to all. 

There are many moving parts to a home insurance plan, so to achieve the best coverage, you should understand your coverage needs and shop around to find the best price.

Address Coverage Needs

You can modify your policy limits for many coverage sections when quoting. You can adjust your dwelling coverage amount beyond the insurer’s suggestion for more complete protection, but you can’t reduce it to less than 80% of your home’s replacement cost.

We recommend creating a home inventory to determine the exact amount of personal property coverage you need. An inventory will catalog and value all your belongings and give you the precise worth of your possessions, giving you the ideal coverage limit needed for personal property coverage.

You should also consider increasing your liability limits beyond the typically required amount of $100,000. We recommend $300,000 to $500,000 in liability coverage for most consumers, but you can raise it to $1 million at most carriers. Have enough liability coverage to guard all your assets financially.

You can also consider endorsements, optional coverage add-ons, for items or risks not covered by default. Common endorsements include water backup coverage, scheduled personal property coverage, and sinkhole coverage. Check what endorsements companies offer when quoting. 

Compare Your Options

Once you know what protection your home needs, you should compare quotes from several companies to find the best deal. Don’t settle for the first quote you get. 

Shopping around is essential to find the best rates, discounts, and endorsement options. Comparing carriers will also give you insight into their customer service and other business procedures, which can influence your decision on a provider. 

A home insurance agency in Apopka can help you compare your options from multiple different carriers. An independent agency partners with several providers and can find you the best deal, while a captive agent works with only one company and specializes in their business.

What to Know About Flood Insurance in Apopka

Your home insurance policy financially protects you from various perils, or damage sources, such as fires, theft, and hurricanes. However, homeowners insurance always excludes flood damage by default, which is important to note because floods are the country’s most common natural disaster.

Anywhere it can rain, it can flood. Flooding in Apopka is typically caused by rain from thunderstorms or hurricanes, such as Hurricane Ian in 2022. Certain areas in the city, such as Sheeler Oaks and Clear Lake Estates, are prone to flooding. 

Additionally, the city reports that properties near lakes, such as Lakes Hammer, Alden, and McCoy, are susceptible to flood damage.

The Federal Emergency Management Agency (FEMA) reports that just one inch of floodwaters in your home can cause $20,000 in damages. Your property isn’t fully protected without a separate policy for flood insurance in Apopka. 

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 Apopka

Several factors affect Apopka homeowners insurance rates. Companies examine as many factors as possible that either affect your property’s odds of a claim or the amount of insurance you need. Properties with higher possibilities of damage or more insurance coverage have higher premiums. Some specific factors affecting rates include:

Home Location: Houses in more damage-prone locations will have higher premiums. These can be homes in flood zones or high-crime neighborhoods. Conversely, houses near fire stations or hydrants typically have lower premiums.

Home Characteristics: Your home’s age, size, and construction influence rates of property insurance in Apopka. Older homes are typically more prone to damage and often have higher premiums. Larger houses need more insurance, thus increasing rates. Insurers will also assess building materials, from the foundation to the roof, to determine rates. For instance, masonry homes often have lower rates than frame houses. Metal roofs typically help lower premiums, also.

Policy Details: Opting for higher limits or endorsements will increase premiums, while qualifying for discounts or raising your deductible will lower rates.

Claims History: People or properties with a history of home insurance claims usually have higher premiums than people or places with clean claims records. A history of claims indicates a higher financial risk for the insurance company.

Is Home Insurance Required in Apopka?

The only entity that can require homeowners insurance in Apopka is your mortgage lender. Lenders require borrowers to maintain a policy for the duration of the loan.

No law requires home insurance in Apopka. However, if you have a mortgage on your home, your lender will require a policy as part of the loan agreement. Lenders mandate home insurance to protect their investments. If your house got destroyed, you and your lender would be recouped through the insurance policy.

If you let your coverage lapse during your mortgage, your lender will force place insurance on you. Force-placed coverage is more expensive and less comprehensive than standard insurance, so be sure not to miss payments. Many homeowners have their home insurance in escrow to help avoid this scenario.

How to Get Home Insurance Quotes in Apopka

Having the right homeowners insurance is critical, especially in Florida. Yet, the process of finding the right policy can be time-consuming and confusing, especially for first-time shoppers. If you want help getting homeowners insurance quotes in Apopka, our team at Clovered is happy to help.

We’re an independent insurance agency based in South Florida, so we’re very familiar with the coverage needs of fellow state residents. You can use our online quote engine to compare options from our leading insurance partners in minutes.

Or, if you’d rather chat with a licensed agent over the phone for a quote, call us at 833-255-4117 during business hours. You can also email us 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.

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

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