Average Daytona Beach Homeowners Insurance Rates Homeowners insurance isn’t required by law in Daytona Beach, but it is required by mortgage lenders. If you’re going to buy a house and have a lender, the institution will require you to get and maintain a home insurance policy as a condition of the loan.
Key Takeaways
- The average homeowners insurance cost in Daytona Beach, Florida, is about $1,797 per year.
- Citizens and American Platinum had the cheapest home insurance in Daytona Beach, Florida, according to our agency’s internal data.
- The best way to save money on home insurance coverage is to compare multiple quotes before you buy.
What is the Average Cost of Homeowners Insurance in Daytona Beach, Florida?
The average cost of homeowners insurance in Daytona Beach is about $1,797 annually, although many factors, such as location, property value, and home construction features, affect rates.
Premiums in Daytona Beach are relatively low despite the city’s risk of hurricanes and floods, which tend to drive up rates around Florida’s coastal cities. Perhaps the significant number of retirees and condos in the city contributes to the lower premiums many of our policyholders see in the city.
Additionally, our agency may have had a tendency to write more affordable policies in the city; residents with large, expensive properties usually pay more for coverage than people with smaller, simpler homes.
Nevertheless, as an independent insurance agency, we can present real, average premiums from our policyholders in Daytona Beach.
|
Company |
Average Premium |
|---|---|
|
Citizens |
$1,421 |
|
American Platinum |
$1,638 |
|
Slide Insurance Company |
$1,802 |
|
Florida Peninsula |
$4,319 |
|
Edison |
$6,331 |
|
Average |
$1,797 |
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 Daytona Beach, Florida
Our policyholders found the cheapest home insurance in Daytona Beach with American Platinum, Citizens, and Slide.
American Platinum is a Florida-focused insurance provider exclusively available through our team at Clovered. Citizens is a non-profit insurance company run by the Florida state government. It was founded in the early 2000s after a series of severe hurricanes hit the state, scaring off or financially ruining many private insurers. Citizens is able to offer subsidized rates due to its non-profit, governmental status.
You can qualify for Citizens coverage if you can’t find coverage from a private insurer within 20% of your Citizens quote. Our team of agents will pair you with the most affordable policy we can find for you, whether it’s from a carrier on our list or any of our other partner companies.
Best Homeowners Insurance Companies in Daytona Beach, Florida
As an independent agency, we wanted to provide more information on some popular home insurance companies in Daytona Beach. 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.
Citizens
Demotech Rating
NR
NAIC Complaint Index
0.69
Average Premium
$1,421
Citizens Property Insurance Corporation is Florida’s state-run home insurer of last resort. It’s a non-profit entity that provides property insurance to state residents who are unable to obtain coverage in the traditional, private market.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$1,638
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.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$1,802
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.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$4,319
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.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$6,331
Established in 2006, Edison Insurance Company offers home insurance primarily in Florida through independent agents, like our team at Clovered. It was acquired by Florida Peninsula Insurance Company in 2010, although it still has its own book of business.
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.
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:
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage covers your home’s physical structure, including the roof, walls, countertops, flooring, wiring, HVAC, and more. |
|
Other Structures Coverage |
Other structures coverage covers permanent features on your property, unattached to the main house, such as sheds, fences, detached garages, and carports. |
|
Personal Property Coverage |
Personal property coverage covers your possessions, including furniture, electronics, jewelry, and tools, from theft and damage. |
|
Loss of Use Coverage |
Loss of use coverage covers living expenses you incur if you’re forced to move out of your home after it suffers serious damage. Your insurer can temporarily cover lodging, gas, groceries, and more. |
|
Liability Coverage |
Liability coverage covers medical bills, legal fees, and more if you’re found liable for someone’s injuries or property damage in a lawsuit. |
|
Medical Payments Coverage |
Medical payments coverage covers minor medical expenses if someone gets hurt around your property, without the need for legal liability. |
In Daytona Beach, home insurance with protection in so many areas of life seems like a wise financial investment. It’s always better to have it in the first place than be wishing you had it when it’s too late.
How to Get Homeowners Insurance Quotes in Daytona Beach
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.
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.
Daytona Beach Home Insurance FAQs
Is homeowners insurance required in Daytona Beach, Florida?
What is wind mitigation in Daytona Beach?
Daytona Beach is in danger of sustaining impacts from hurricanes come storm season due to its coastal location. You can fortify your home through construction methods to better withstand strong winds. This is called wind mitigation. Implementing wind mitigation features on your home and passing a wind mitigation inspection results in significant homeowners insurance discounts.
What factors affect Daytona Beach home insurance rates?
There are several factors every provider looks at when determining premiums, which include home age, roof condition, claims history, and coverage amounts.
Do you need flood insurance in Daytona Beach, Florida?
Mortgage lenders will require flood insurance if your house is in a high-risk flood zone. Many neighborhoods in South Daytona and Daytona Beach between US-1 and Nova Road are in A or AE flood zones, and some properties near the Daytona Beach Golf Club, Samuel L. Butts Park, Blaine O’Neal Park, and Bethune Cookman University have been deemed flood risks.
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.
