Average Destin Homeowners Insurance Rate No law requires homeowners insurance in Destin. However, having a policy is required by mortgage lenders if you have a loan on your house. All residents with a mortgage will need to maintain home insurance according to their lenders’ requirements, or else your lender will force place insurance onto you.
Key Takeaways
- The average cost of home insurance in Destin, Florida, is about $1,362 annually, although several factors can affect rates and increase costs.
- American Platinum had the cheapest home insurance in Destin, based on our agency data.
- The best way to find the most affordable insurance in Destin is to shop around and compare rates with several companies before binding a policy.
How Much Is Homeowners Insurance in Destin, Florida?
The average cost of homeowners insurance in Destin is $1,362 annually, which is well below the Florida state average of $2,857 per year. However, rates vary due to many factors, such as home age, size, and value, and you will pay more for coverage if you have a larger, more expensive house.
Florida is one of the most costly states for homeowners insurance in the nation due to hurricane risk and high property values. Rates also tend to skew higher in coastal cities as opposed to inland ones.
However, our average premiums in Destin are much lower than expected. This could be due to our agency having a large concentration of condo insurance policies, which tend to have lower rates than house insurance plans. Or, it could be a coincidence of our policyholders’ having smaller, simpler homes in the Destin area.
Nevertheless, we can present real, average premium from our policyholders in the city to give you an idea of what insurance in Destin may cost you.
|
City |
Average Premium |
|---|---|
|
American Platinum |
$1,185 |
|
Olympus |
$4,008 |
|
Average |
$1,362 |
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.
Cheapest Home Insurance in Destin, Florida
Our policyholders found the cheapest home insurance in Destin with American Platinum. Remember, though, that rates vary by provider, and you won’t know which company is the cheapest for you until you get quotes.
American Platinum is based in Florida and writes policies in the Sunshine State and Georgia. It’s available exclusively through our agency at Clovered. Olympus is another Florida-based insurer that has been in operation for many years and survived the insurance marketplace scare of the early 2020s.
Our team at Clovered partners with these companies and several more not listed, so we can help you find the plan with the best price. This includes Citizens, Florida’s state-run insurer of last resort.
Best Homeowners Insurance Companies in Destin, Florida
There really is no overall “best” insurance company – each person ahs different coverage needs, budgetary constraints, and personal preferences on aspects like customer service. So, it’s a matter of finding the insurer that’s best for your situation. As an independent agency, we want to help with that process.
We can provide some more information on our partners in Destin below. 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.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$1,185
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.
Olympus
Demotech Rating
NR
NAIC Complaint Index
0.90
Average Premium
$4,008
Olympus Insurance Company has offered home insurance solely in Florida since its founding in 2007, with a general focus on higher-value homes and a count of over 70,000 policyholders.
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.
What Does Destin Homeowners Insurance Cover?
Destin homeowners insurance covers your property and personal belongings from a variety of perils like hurricanes, water damage, tornadoes, fires and burglary. Plus, it protects your finances against unexpected events like dog bites and an injury on your property that may or may not be your fault.
While your premiums may be based on your claims history, coverage amounts and your home’s location and crime in the area, you’ll always get the following coverages with your policy.
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage covers your home’s structure, including the roofing, walls, flooring, installations, pipes, and more. |
|
Other Structures Coverage |
Other structures coverage covers fixtures on your property that aren’t attached to the main house, such as fences, detached garages, sheds, and carports. |
|
Personal Property Coverage |
Personal property coverage covers your belongings in and around your house, including furniture clothing, electronics, tools, jewelry, and more. |
|
Loss of Use Coverage |
Loss of use coverage covers possible living expenses if you’re forced to move out of your house if it suffers major damage from a covered peril. Your insurer can help pay for temporary lodging, food, gas, and more. |
|
Liability Coverage |
Liability coverage covers your finances if you’re found responsible for someone’s injuries or property damage in court. Your insurer can pay medical bills, legal fees, and more. |
|
Medical Payments Coverage |
Medical payments coverage covers minor medical expenses if someone suffers an injury around your property, regardless of fault. |
How to Get Home Insurance Quotes in Destin, Florida
Getting the most affordable home insurance in Destin, Florida, 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 and then we’ll pair you with a policy that fits your needs — and your budget.
But if you find comfort in talking to real people — after all, home insurance is a big purchase — you can also count on us. We have a team of licensed, in-house agents and service team members who are ready and waiting for you! Simply reach them from 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.
Destin Home Insurance FAQs
Is homeowners insurance required in Destin, Florida?
What is wind mitigation in Destin, Florida?
Wind mitigation refers to house construction methods or features that enable a dwelling to better withstsand hurricane-force winds. Common wind mitigation elements include roof straps, hip roofs, and hurricane windows. Having wind mitigation features will get you notable discounts on your home insurance, especially in a coastal city like Destin.
What factors influence Destin home insurance rates?
Insurance companies analyze several variables to determine the chances of your property generating a claim. Homes more likely to generate claims have higher premiums. Factors such as home age, size, location, building materials, and claims history all affect premiums. Policy details like coverage amounts, endorsements, discounts ,and deductibles also influence insurance costs for every person.
Do you need flood insurance in Destin, Florida?
You only need flood insurance in Destin if required by your mortgage lender, which will only happen if your property is in a federally designated high-risk flood zone. The Federal Emergency Management Agency (FEMA) creates the country’s flood risk maps and determines your flood zone. If your house is in a high-risk zone according to their map, your lender will mandate you carry flood coverage in addition to homeowners insurance. Home insurance doesn’t cover flooding damage.
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.
