Daytona Beach Homeowners Insurance

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Daytona Beach is known for its motorsports, with NASCAR and Bike Week being big draws for tourists every year. But if you live there, you know it’s got a lot more to offer. Great fishing and six nearby parks make outdoor recreational activities convenient. Throw in the classic beach, boardwalk and pier, and you’ve got a great family-friendly location with something for everyone.

Its location between Jacksonville and Orlando means you’re only a short drive away from major metropolitan centers and international airports. Perhaps the most unexpected benefit of the city, though, is its surprisingly affordable homeowners insurance rates.

What is the Average Cost of Homeowners Insurance in Daytona Beach, Florida?

The average cost of homeowners insurance in Daytona Beach is $2,038 per year for a $150,000 house, $3,522 for a $300,000 house, and $4,657 $450,000 house.

These are relative bargains compared to the Florida average rate of $2,533 per year for a $150,000 house, $4,386 for a $300,000 house, and $5,849 for a $450,000 house.

Premiums are low despite the city’s risk of hurricanes and floods, which tend to drive up rates around the state. Perhaps the significant number of retirees and seasonal second homeowners in the city contribute to the lower cost of Daytona Beach homeowners insurance. 

Let’s examine what some insurance companies in Daytona Beach are charging on average.

Average Cost of Homeowners Insurance in Daytona Beach for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

$150,000 House

$1,855
$1,119
$2,646
$2,252
$1,875
$2,046
$2,079
$1,971
$2,038

$300,000 House

$3,256
$1,965
$4,645
$3,953
$3,292
$3,591
$3,652
$3,460
$3,522

$450,000 House

$4,503
$2,706
$6,415
$5,458
$4,517
$4,964
$5,019
$4,789
$4,657

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.

Florida Office of Insurance Regulation Premium Consideration Factors

The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the 2022 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.

Pre-2001 Construction w/ Wind Mitigation

This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for maximum wind mitigation features.

Pre-2001 Construction w/ No Wind Mitigation

This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for no wind mitigation features.

2001-Present Construction

This risk is for a Florida masonry home with a current replacement value of $300,000, a $500 non-hurricane deductible, a 2% hurricane deductible, no claims in the past three years, and minimum premium discounts for limited wind mitigation features and no hip roof.

*Wind Mitigation

A wind mitigation is 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. Wind mitigations typically result in deep discounts on your home insurance premiums, so you’ll want to get one.

While many factors affect the prices of home insurance in Daytona Beach, one of the major influences is wind mitigation. Generally, the better your home can handle hurricane-force winds, the less you’ll have to pay for homeowners insurance. Let’s take a look beyond average rates and see what role wind mitigation plays in costs for $150,00 worth of insurance coverage.

$150,000 House in Daytona Beach for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$2,614
$1,598
$4,247
$3,038
$2,304
$3,011
$2,569
$3,171
$2,956

Pre-2001 w/ Wind

$1,543
$793
$1,597
$1,920
$1,552
$1,556
$1,792
$1,284
$1,592

2001-Present

$1,408
$967
$2,094
$1,798
$1,768
$1,571
$1,877
$1,459
$1,565

Rates in Florida are generally high due to hurricanes’ historic and drastic effects on properties in the state. To combat this, the government requires insurance companies in Daytona Beach to discount rates for homeowners who are proactive in protecting against wind damage from hurricanes. It’s like a reward — and a sizable one at that. 

The numbers above show that average rates of homeowners insurance in Daytona Beach were $1,364, or 46%, lower on homes with effective wind mitigation. In other words, you could cut your premium nearly in half.

One of the choices you’ll make when getting home insurance in Daytona Beach is how much you want to get covered for. We’ve broken down costs for $150,000 worth of coverage. Let’s see how the numbers translate to a $300,000 home or $450,000 home in the city.

$300,000 House in Daytona Beach for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$4,575
$2,797
$7,432
$5,317
$4,032
$5,269
$4,496
$5,549
$5,101

Pre-2001 w/ Wind

$2,700
$1,388
$2,795
$3,360
$2,716
$2,723
$3,136
$2,247
$2,755

2001-Present

$2,492
$1,712
$3,707
$3,183
$3,129
$2,780
$3,323
$2,583
$2,709

$450,000 House in Daytona Beach for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$6,535
$3,995
$10,618
$7,595
$5,760
$7,528
$6,423
$7,928
$6,899

Pre-2001 w/ Wind

$3,858
$1,983
$3,993
$4,800
$3,880
$3,890
$4,480
$3,210
$3,859

2001-Present

$3,115
$2,140
$4,634
$3,979
$3,911
$3,475
$4,154
$3,229
$3,286

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.

Which Home Insurance Companies in Daytona Beach Have the Best Rates?

Based on the numbers above, Universal Property & Casualty, ASI, and Liberty Mutual tend to come in with the lowest average rates in Daytona Beach. Citizens is the cheapest at every home price point, but they should be viewed as an insurer of last resort.

Universal Property & Casualty is headquartered in Fort Lauderdale and has been writing policies in Florida for over 20 years. In that time, the company has seen its fair share of severe weather in Florida and currently serves over 800,000 policyholders, making it one of the largest in the state.

Citizens is a non-profit insurance company run by the Florida state government. It was founded in the early 2000s after a string of severe hurricanes hit the state and scared off or financially ruined many private insurers.

Citizens is very popular since it is usually one of the cheapest insurance companies in Daytona Beach and the rest of the state, but its coverage is limited compared to other providers, and not everyone is eligible for their coverage.

Daytona Beach Homeowners Insurance Coverages

Homeowners insurance is such a popular and worthwhile investment because it protects a lot more than just your house. A standard home insurance plan includes the following aspects of coverage:

Dwelling Coverage

Covers your home’s structure and the things that help create it, including the fireplace, windows, doors and flooring.

Other Structures Coverage

Covers structures on your property not attached to your house, such as a fence, detached garage, carport or shed.

Personal Property Coverage

Covers the personal belongings you keep inside or on your property, such as a TV, electronics, lawnmower and clothes.

Loss of Use Coverage

Reimburses you for additional living expenses if you’re forced to move from your home while it’s being rebuilt or repaired.

Medical Payments Coverage

Utilized to pay for small medical bills if someone was injured on your property, whether you’re at fault or not.

More to Consider When Buying Home Insurance in Daytona Beach, Florida

Figuring out rates for home insurance in Daytona Beach, Florida is a complex process that varies from insurance company to insurance company. There are several factors every provider looks at when determining premiums, though. These include:

  • Age of your home
  • Condition of your roof
  • Your credit and claims history
  • The extent of coverage and deductible you choose
  • If your provider has seen an unexpected increase in claims as a company

If this seems like a lot, it kind of is. Insurers are in the business of calculating risk, and it’s no easy task. On top of this, Daytona Beach homeowners insurance companies have to consider the following weather-related hazards that affect rates.

Daytona Beach Flood Zones

Daytona Beach is prone to flooding, thanks to the major bodies of water around the city like the Atlantic Ocean and Halifax River. The Federal Emergency Management Agency (FEMA) has designated areas near Federal Highway along the Halifax River as risky flood zones.

Also, many neighborhoods in South Daytona and Daytona Beach between US-1 and Nova Road are in A or AE flood zones. A lot of properties near the Daytona Beach Golf Club, Samuel L. Butts Park, Blaine O’Neal Park and Bethune Cookman University have been deemed flood risks.

The Daytona Beach city website recommends that “all residents and businesses in areas vulnerable to flooding should have flood insurance.” This is because homeowners insurance doesn’t cover damage from floods. To be adequately protected in case of a flood or storm surge, you’d need a separate flood policy to cover your home and belongings, especially if you live in one of many Daytona Beach flood zones.

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?

Daytona Beach Hurricanes

Like all cities on the east coast of Florida, Daytona Beach is in danger of sustaining impacts from hurricanes come storm season. Just recently, the city picked up damage from Hurricane Matthew in 2016 and Dorian in 2019.

The risk hurricanes and tropical storms pose are a couple of the reasons homeowners insurance in Florida is usually the most expensive in the country. Fortunately, your Daytona Beach homeowners insurance will cover damage from hurricanes.

How to Save on Daytona Beach Home Insurance

Clovered is changing the insurance game for those seeking Daytona Beach home insurance. We give you the resources you need, like an online quote engine that allows you to customize plans and compare rates of top homeowners insurance providers in Daytona Beach, to give you an ideal plan you can afford.

Or, if you’d prefer to speak to a licensed agent instead of receiving an online quote, just call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. or email us anytime at agent@clovered.com.

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.