Average Annual Rate of Homeowners Insurance in Davenport No, home insurance isn’t required by law. However, it is required by mortgage lenders if you have a mortgage. Lenders mandate borrowers to maintain an insurance policy to protect their investment in the property.
Key Takeaways
- The average cost of home insurance in Davenport, Florida, is about $2,923 yearly, which is just above the state average rate.
- Florida Peninsula, Southern Oak, and American Integrity had the cheapest home insurance in Daveport, according to our agency data.
- You should always shop around and compare quotes with several companies before buying a policy to ensure you’re getting a good deal on the right coverage.
Average Home Insurance Cost Davenport, Florida
The average home insurance cost in Davenport, Florida, is about $2,923 per year, which is 2% higher than the state’s average rate of $2,857 annually. Homeowners insurance in Florida is high compared to other states, but rates in Davenport aren’t as costly as in many coastal areas.
One reason for Florida’s high property insurance rates is the frequent risk of hurricane and tropical storm damage. Coastal areas are most prone to direct hits from these storms, which tends to translate into higher premiums for properties closer to the beach. Inland locations, such as Davenport, tend to have lower rates because they are less susceptible to hurricane damage.
As an independent agency, we’re able to list real, average premiums from our policyholders to give you an idea of what to expect when shopping around.
|
Company |
Average Premium |
|---|---|
|
Florida Peninsula |
$867 |
|
Southern Oak |
$1,729 |
|
American Integrity Insurance |
$1,832 |
|
Slide Insurance Company |
$1,947 |
|
Swyfft |
$2,309 |
|
People’s Trust |
$3,139 |
|
American Platinum |
$3,311 |
|
Average |
$2,923 |
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 Cheapest Homeowners Insurance in Davenport, Florida
Florida Peninsula, Southern Oak, and American Integrity had the lowest home insurance rates in Daveport for our policyholders. However, rates vary by property, location, and policyholder, so it’s hard to say which insurer will be the cheapest for you until you get quotes.
Florida Peninsula and Southern Oak are Florida-based insurers, while American Integrity is a regional provider that writes policies in several states. It’s wise to get quotes from companies large and small when shopping around to note differences in price, service, discounts, and more.
Whether you have a specific home insurance company in mind or you’re just looking for the best price, our Clovered team can help you find what you’re looking for. We partner with the insurers listed above, and more, so we can match you with the most affordable policy for your circumstances.
The Best Homeowners Insurance Companies in Davenport, Florida
Determining the best home insurance company in Davenport depends on a person’s coverage needs, budget, and personal preferences. As an independent agency, we want to present information on our partners to help you make the right choice.
Average premiums are determined from our policyholder data. Financial strength is determined by each company’s ratings from Demotech, a leading insurance industry credit rating agency.
To gauge consumer satisfaction, we used the National Association of Insurance Commissioners’ complaint index, which compares a firm’s consumer complaint performance with other companies in the market. The default index number is 1.0, meaning a company with a complaint index of 2.0 has a complaint value twice as high as expected. So, for their scale, lower is better.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$867
Florida Peninsula Insurance Company was founded in 2005 and focuses on offering coverage in its namesake state. With over 150,000 policies in force in Florida, it just cracks the top ten list of Florida’s largest home insurers.
Southern Oak Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.20
Average Premium
$1,729
Southern Oak Insurance Company is a private home insurer that has been providing coverage to state residents since 2004. Its policies are primarily available only in Florida through a statewide network of independent agents, such as Clovered.
American Integrity Insurance
Demotech Rating
A
NAIC Complaint Index
1.48
Average Premium
$1,832
Established in 2006, American Integrity Insurance has become one of the five largest home insurers in Florida with over 300,000 policyholders in the state. Since its founding, the company has expanded its coverage to Georgia and South Carolina and gone public, trading on the New York Stock Exchange.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$1,947
Slide Insurance Company was founded in 2021 and began operations offering home insurance in 2022. Available in Florida and South Carolina, the company currently has over 300,000 policyholders in the Sunshine State, making it one of Florida’s largest.
Swyfft
Demotech Rating
NR
NAIC Complaint Index
NR
Average Premium
$2,306
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
People’s Trust
Demotech Rating
A
NAIC Complaint Index
1.44
Average Premium
$3,139
People’s Trust Insurance Company was established in 2008 and offers home insurance exclusively in Florida. The company prides itself on its business model, which differs from most carriers in that it retains a network of preferred contractors for claims.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$3,311
American Platinum Insurance Company, founded in 2011, is a subsidiary of Universal Insurance Holdings, offering home insurance coverage in Florida and Georgia. Policies are available exclusively through independent agents at Clovered.
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.
Coverage to Expect With Homeowners Insurance in Davenport, Florida
Homeowners insurance in Davenport covers you from a variety of uncontrollable perils like burglary, water damage, fires, tornadoes, and Florida’s most costly and common peril: hurricanes. Plus, it protects your home, personal belongings, and financial well-being from so much more.
|
Coverage |
Definition |
|---|---|
|
Coverage A |
Coverage A, or dwelling coverage, can protect your home’s structure from damage caused by a covered peril. This coverage may protect fixtures in your home like the roof, foundation, flooring, windows, pipes, and much more. |
|
Coverage B |
Coverage B, or other structures coverage, may protect the fixtures on your property that aren’t attached to your main dwelling if a covered peril damages them. This may include structures like your fence, pool, shed, detached garage, and more |
|
Coverage C |
Coverage C, or personal property coverage, may protect your personal belongings should they sustain damage from a covered peril. This coverage may protect things such as your prized designer handbag, lawn care equipment, carefully curated furniture, and much more. |
|
Coverage D |
Coverage D, or loss of use coverage, can help you in a pinch if a covered peril renders your home uninhabitable. This coverage may help cover expenses like lodging, gasoline, and groceries, among other necessities. |
|
Coverage E |
Coverage E, or personal liability coverage, may help you out if you’re found liable for someone’s injuries or property damage to someone else’s property. It can help you cover medical expenses and legal fees. |
|
Coverage F |
Coverage F, or medical payments coverage, can help you cover medical expenses for someone’s injuries, like a broken arm or a dog bite, regardless of who’s at fault. |
How to Get Homeowners Insurance Quotes in Davenport, Florida
Getting your average home insurance cost in Davenport down to what you want to pay is easier than ever when using our online quoting tool. All you need to do is answer a few questions about your property. We’ll analyze the data in the background, then pair you with a policy that fits your needs—and your budget.
With Clovered, you can say goodbye to the stress of finding an affordable policy. We do all that for you — in just a few minutes with the click of a button.
But if you find comfort in talking to someone for your quote— after all, home insurance is a big purchase — you can also count on us. We have a team of licensed, in-house agents ready and waiting for you! Simply reach them Monday to Friday from 8:30 a.m. to 6 p.m. at 833-255-4117, or email them 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.
Davenport Home Insurance FAQs
Is homeowners insurance required in Davenport, Florida?
What is wind mitigation in Davenport, Florida?
Wind mitigation is constructing or fitting a house with components that help it withstand hurricane-force winds. Critical wind mitigation components include hip roofs, roof connections, and impact windows. Having wind mitigation features on your home can significantly reduce insurance premiums. You can see if you qualify for discounts with a wind mitigation inspection.
What factors influence Davenport home insurance rates?
The cost of home insurance depends on several factors about your house, such as location, age, size, condition, and construction materials. Insurers will also assess personal factors about each policyholder, such as claims history. Additionally, policy details like coverage amounts and deductibles directly impact your rates.
Do you need flood insurance in Davenport, Florida?
You only need flood insurance in Davenport if your mortgage lender requires it, which will occur if your house lies in a federally designated high-risk flood zone. The Federal Emergency Management Agency (FEMA) makes and maintains flood risk maps for the country. If your house is in a FEMA-designated high-risk flood zone, your lender will require you to carry flood insurance in addition to homeowners insurance.
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?
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.
