Homeowners Insurance in Davie, Florida

Home to Nova Southeastern University and tucked between Fort Lauderdale and the Everglades, there’s no shortage of things to do in Davie, Florida. Since the city has entrances to the Florida Turnpike, I-95, I-75 and I-595, it has become a hotbed to live for those people who commute north and south to work each morning.

Since Davie seems to be the perfect location for commuters in all directions, and it’s a bit away from the hustle and bustle of city life, people are moving to the city in droves. While housing prices continue to increase, there’s another cost associated with Davie living that its residents should be aware of: Davie home insurance.

The average cost of homeowners insurance in Davie, Florida is $7,276 per year for a $150,000 house, which is well above both the state’s average of $3,325. The yearly averages for $300,000 and $450,000 houses is even more staggering. On average, it’s $13,168 per year for $300k homes and $18,914 for $450k homes, making Broward County one of the most expensive places in the country for homeowners insurance.

One of the primary reasons for costly home insurance in Davie is due to its proximity to the coast and susceptibility to hurricane damage, which is often covered by homeowners insurance.

Because so many hurricane claims are filed in Broward County, insurers are taking on more risk to insure those homes and must mitigate said risk by increasing premiums for all homeowners in the region. Let’s take a look at a breakdown of average premiums by home insurance companies in Davie.

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.

Although those numbers are quite a bit higher than Florida’s average annual premium, there’s much more than meets the eye. Because Davie is a newer community than cities like Fort Lauderdale and Miami, many of its houses were constructed after stricter building guidelines were put in place in 2001. 

That’s great news for Davie residents because those new guidelines are associated with lower homeowners insurance premiums. You see, homes built before 2001 didn’t have to meet strict wind-protection standards, so they became more susceptible to wind damage from hurricanes and tropical storms.

Despite being a newer community, Davie ranks as one of the top 30 most populous cities in the Sunshine State. Several factors may entice buyers to move to this Florida city, its lower homeowners insurance premiums and newer houses are likely top selling points.

Take a look at the descriptions of each category below and we’ll break down the average cost of premiums even further. But this time, we’ll do so by company, the year a home was built and whether it qualifies for a steep wind mitigation discount.

Now let’s see these considerations in action, starting with $150,000 homes. 

Since many houses in Davie were built from 2005 to the present day, homeowners insurance in Davie, Florida tends to be far closer to $2,500 to $5,500 per year than its non-wind-mitigated counterparts that could tip the scale at nearly $12,000 per year., on average

As we said earlier, there’s more than meets the eye when it comes to determining the average cost of homeowners insurance in Davie. When you take those things into account, homeowners in Davie enjoy premium prices closer to the state’s average of $3,325 per year for a $150,000 house.

However, since Davie is quickly becoming a hot destination to live in, for its ease of commutes and lifestyle, housing costs are increasing drastically. You may have been able to find a $150,000 house a few years ago, but home prices are tipping the scale closer to $300,000 or $450,000 these days. Let’s break down what you can expect to pay in premiums for a home of that value.

Your Davie home insurance policy protects your home, personal belongings and financial wellbeing from many different perils — like house fires, torrential rains, burglaries, dog bites and so much more. But let’s take a look at the different coverages you can expect with a policy from Clovered.

Unfortunately, many parts of Davie reside in some form of FEMA-designated flood zone, which means flooding is expected to occur at least once every 100 years. While that may not seem enough to get coverage, consider that just 1 inch of floodwaters typically cause up to $25,000 worth of damage.

When you consider floods are the most common natural disaster on planet earth, and the fact that homeowners insurance doesn’t cover flood damage, getting flood insurance to properly protect your home seems like a no-brainer.

Plus, it’s just a fraction of the cost of Davie home insurance, so $300,000 worth of flood coverage could cost as little as $300 per year. All you need to do is fill out our online flood insurance form and one of our licensed agents will pair you with a policy that fits your needs — and your budget.

While tornadoes are fairly uncommon in Davie, and typically only occur after a hurricane has passed through, your homeowners insurance in Davie, Florida will cover you from a variety of tornado-related damage.

It’ll cover your home and personal belongings if they’re damaged or destroyed by a tornado and, under your loss of use coverage, it’ll also reimburse you for many additional living expenses you incur if you’re forced to temporarily move out of your home while it’s being rebuilt or repaired due to tornado damage.

Choosing the best homeowners insurance companies in Davie is easy when you use our online quoting tool. Since we partner with the city’s top insurance carriers — such as Citizens and Universal Property and Casualty Insurance Company, which have some of the most affordable rates in the city — we can offer the best policies at the best prices.

Each of these companies has average rates under $4,500 for a $150,000 home with built-in wind mitigation efforts. But just because those are the average rates, that doesn’t mean you have to pay that much. Your rates are also determined by many factors separate from your home’s value, such as your deductibles, coverage amounts, claims history and insurance score.

It’s important to note, too, that as of mid-2024, Southern Oak has filed for a rate reduction, and Farm Bureau has filed for a 0% increase. While many Florida insurers are raising their rates, causing policyholders some uneasiness, these insurers are attempting to do right by their customers.  

At Clovered, we can customize your policy to provide a home insurance plan that includes all the coverage you need with none of the extras you don’t.

All you need to do to get the best insurance company on your side is get a quote with Clovered. It takes just a few minutes, is completely free and is easier than riding a bike. You can also contact one of our many licensed agents from 8:30 a.m. to 6 p.m. Monday through Friday at 833-255-4117 or email them anytime at agent@clovered.com.