Homeowners Insurance in Dunedin, Florida

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  • Homeowners Insurance in Dunedin, Florida

Dunedin, on Florida’s west coast, is home to some of the best beaches on the Gulf of Mexico. However, the town’s proximity to the Gulf leaves it vulnerable to hurricane damage. 

Without homeowners insurance, you’d be personally liable for all property damage your house can suffer, whether caused by hurricanes, fires, theft, or another occurrence out of your control.

We created this guide to help residents find the best homeowners insurance in Dunedin while staying within their budget.

How Much Is Homeowners Insurance in Dunedin, Florida?

The average cost of homeowners insurance in Dunedin is about $3,598 annually on a $150,000 house, $6,431 on a $300,000 house, and $9,267 on a $450,000 house.

Living on the coast of Florida has many upsides, but the beachside lifestyle also comes with one notable downside: insurance rates. Average premiums in Dunedin and surrounding Pinellas County are 18% higher than state average rates.

Florida already sports some of the highest premiums in the nation overall, and living on the coast of Florida puts you on the higher end of the state scale due to the greater possibility of hurricane damage.

The table below lists the average cost of home insurance in Dunedin for houses at varying price levels.

Average Cost of Homeowners Insurance in Dunedin
Company $150,000 House $300,000 House $450,000 House
Allstate $2,125 $3,798 $5,474
Citizens $1,911 $3,410 $4,910
Florida Penn $4,046 $7,225 $10,408
Liberty Mutual $2,729 $4,868 $7,011
People’s Trust $3,137 $5,603 $8,072
Southern Oak $4,851 $8,692 $12,536
State Farm $2,993 $5,350 $7,709
Stillwater $1,627 $2,910 $4,195
Universal Property $4,372 $7,816 $11,264
Average $3,598 $6,431 $9,267
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.

Insurance premiums increase as home value increases. Carriers typically determine home value by calculating your home’s replacement cost, which is the cost to rebuild the structure based on materials and labor expenses only. Larger houses cost more to rebuild and thus need more insurance coverage.

While replacement cost isn’t the same as your house’s selling or purchase price (the market value), the two do correlate. Larger, nicer houses sell for more and also have higher replacement costs. However, when we reference home cost in this article, we’re referring to a home’s replacement cost.

In addition to your house’s value, its age and wind mitigation features are crucial to insurance premiums. Older homes often have higher premiums than newer ones due to wear and tear. Older components have greater chances of causing or exacerbating property damage. They also likely won’t hold up as well in severe weather.

We segmented Dunedin home insurance rates in the tables below for an in-depth look at the market. The first table depicts average homeowners insurance rates in Dunedin on $150,000 homes specifically while accounting for home age and wind mitigation.

Cost of Homeowners Insurance on $150,000 House in Dunedin
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $3,270 $1,598 $1,506
Citizens $2,788 $1,219 $1,725
Florida Penn $5,146 $3,606 $3,387
Liberty Mutual $3,265 $2,058 $2,503
People’s Trust $4,683 $2,219 $2,509
Southern Oak $8,254 $4,007 $2,292
State Farm $4,364 $2,452 $2,162
Stillwater $2,516 $1,323 $1,042
Universal Property $7,485 $2,541 $3,090
Average $5,437 $2,699 $2,659

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.

Florida Office of Insurance Regulation Premium Consideration Factors
Home Construction Coverage Definition
*Wind Mitigation 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.
Pre-2001 Construction w/ No Wind Mitigation These premiums represent homes built before 2001 with no wind mitigation features.
Pre-2001 Construction w/ Wind Mitigation These premiums represent homes built before 2001 with maximum wind mitigation features.
2001-Present Construction These premiums represent homes with limited wind mitigation features and no hip roof built from 2001, when Florida redesigned its building codes and mandated that new construction withstand hurricane-force winds better. 

As you can see, wind mitigation can save you significant money on home insurance in Dunedin. Having wing mitigation features reduced premiums on older houses by just over 50% per year, equating to over $2,700. 

It typically costs a few hundred dollars to get a wind mitigation inspection, and it can’t impact your rates negatively if you fail. Instead, the inspector will tell you the steps to mitigate your home successfully.

Premiums rise overall on $300,000 houses in Dunedin, but wind mitigation can still save you thousands annually.

Cost of Homeowners Insurance on $300,000 House in Dunedin
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $5,886 $2,876 $2,633
Citizens $5,018 $2,194 $3,016
Florida Penn $9,263 $6,491 $5,922
Liberty Mutual $6,525 $3,704 $4,376
People’s Trust $8,429 $3,994 $4,386
Southern Oak $14,857 $7,213 $4,007
State Farm $7,855 $4,414 $3,780
Stillwater $4,529 $2,381 $1,821
Universal Property $13,473 $4,574 $5,402
Average $9,876 $4,859 $4,648

Wind mitigation continued to cut Dunedin home insurance rates in half, on average. Newly constructed houses had the lowest premiums of the three categories. Look how the trend continues on houses valued at $450,000.

Cost of Homeowners Insurance on $450,000 House in Dunedin
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $8,502 $4,155 $3,765
Citizens $7,249 $3,169 $4,313
Florida Penn $13,380 $9,376 $8,468
Liberty Mutual $9,425 $5,351 $6,258
People’s Trust $12,176 $5,769 $6,272
Southern Oak $21,460 $10,418 $5,730
State Farm $11,346 $6,375 $5,405
Stillwater $6,542 $3,440 $2,604
Universal Property $19,461 $6,607 $7,725
Average $14,135 $7,018 $6,646
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.

Companies With the Cheapest Homeowners Insurance in Dunedin

In many cases, Stillwater had the cheapest homeowners insurance in Dunedin. However, the company with the most affordable rates can vary by person depending on circumstances and properties. You won’t know which carrier has the cheapest home insurance in Dunedin until you shop around.

Stillwater was founded in 2000 and is headquartered in Jacksonville, Florida, offering property insurance nationwide. It can be a good option, but you may also want to compare quotes from smaller, regional carriers like Southern Oak to note differences in price and service.

Citizens also had low rates, although Citizens isn’t a standard insurance company. The state government in Florida manages Citizens. It was originally designed to be a carrier of last resort for people who couldn’t find standard coverage since its founding in 2002. 

Due to difficulties in the Florida insurance market, it has grown much larger than originally intended to be. The company is actively trying to shed policies onto private carriers. Citizens plans have stricter limits and regulations than policies from standard carriers, so keep their situation in mind when shopping around.

Dunedin Homeowners Insurance Coverages

The most common type of homeowners insurance is officially called the HO3 form. HO3 policies are divided into different areas of coverage as follows:

Dunedin Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially covers your home’s structure and attached fixtures, including the roof, walls, countertops, flooring, pipes, water heater, and more.
Other Structures Coverage Other structures coverage guards features on your property separate from your main house, such as carports, detached garages, fences, sheds, and more.
Personal Property Coverage Personal property coverage accounts for your belongings, including furniture, clothing, electronics, jewelry, tools, artwork, and more.
Loss of Use Coverage Loss of use coverage helps cover living expenses if you’re forced to move out of your home after property damage makes it unlivable. Your insurer can cover groceries, temporary lodging, and more.
Liability Coverage Liability coverage comes in handy if you’ve been found legally liable for injuries or property damage to another person. Your carrier can cover legal fees, medical bills, and more.
Medical Payments Coverage Medical payments coverage covers minor medical bills if someone gets injured on your property, regardless of fault.

How to Get the Best Home Insurance in Dunedin

The best homeowners insurance in Dunedin will differ by person. To guarantee you get the best plan for your situation, you must understand your coverage needs and adjust your policy accordingly. And, you should shop around to find the best rate.

Understand Coverage Needs

Know that insurance plans protect from a variety of damage sources called perils. The most common perils include hurricanes, fires, theft, and water damage. But, check your policy’s limitations to see exactly how your items are covered against these damages.

Policies can reimburse you for damage at actual cash value or replacement cost. Actual cash value coverage takes depreciation into account when calculating the value of your damaged or stolen property. As a result, actual cash value typically provides a lower payout than the cost of replacing the item with a brand-new one. 

Replacement cost, on the other hand, provides coverage for the full cost of replacing your damaged or stolen property with a new item of similar kind and quality without considering depreciation. Recognize when your policy covers you at actual cash value and replacement cost, and opt for replacement cost if feasible, although it’s usually the more costly option. 

Coverage is also excluded entirely in some instances. For example, policies limit coverage of items used for commercial purposes in your home if you run a business out of your house. Also, expensive valuables, such as art and jewelry, are usually covered up to $2,500 or $5,000 only. You can purchase endorsements for additional coverage if you need them.

Adjust Policy Limits

You set your policy limits when getting home insurance quotes. While insurers will have recommendations of what you should select, you can save money or enhance your protection if you know exactly what you’re doing when choosing limits.

Set accurate personal property limits with the help of a home inventory. An inventory helps you assess the value of your belongings so that you can purchase just the right amount of insurance coverage.

Your insurer determines your dwelling limit. This suffices at first, although be sure to check and update it periodically, such as after you make renovations.

We also recommend raising your liability limits beyond the minimum required amount. Expenses can rack up very quickly during personal injury or property damage cases. It’s better to be safe than sorry; you don’t want to be personally on the hook for any payouts.

Shop Around

Everyone wants to save money on their Dunedin home insurance. Shopping around is the only way to ensure you’re getting the best deal possible.

In addition to comparing rates, you can also assess the cost of endorsements and the extent of discounts at different companies.

You should also gauge customer service and other areas of company operations to see if providers are friendly, helpful, navigable, etc. While price is important, you still want a provider with quality care that will be there for you when you need it.

What to Know About Flood Insurance in Dunedin, Florida

You may notice that flooding wasn’t included as a covered peril in homeowners insurance policies. Floods are the most common and costly natural disaster, and carriers can’t afford to cover them in home insurance.

Flooding is a significant threat in Dunedin, especially during hurricanes and tropical storms in the form of storm surges. Unfortunately, your home isn’t fully protected unless you have flood insurance.

Like many Florida coastal communities, Dunedin has areas designated as Special Flood Hazard Areas (SFHAs) by FEMA (Federal Emergency Management Agency). These areas are at especially high risk of flooding, and homeowners in SFHAs are typically required to carry flood insurance if they’ve mortgaged their homes. 

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?

Cost Factors of Home Insurance in Dunedin

Several variables influence the average Dunedin homeowners insurance. Insurers analyze many factors to appropriately determine risk.

Homes on the Gulf in Dunedin can have higher premiums as coastal properties are more likely to suffer wind and flooding damage. Homes in high-crime areas can also have higher rates.

As we mentioned earlier, home age is vital. Outdated features can compromise building integrity and make your home more prone to damage. Also, houses built with bricks or concrete, called masonry homes, withstand winds and fires better than wooden frame houses and often have lower rates.

Your insurer will also examine some personal details that can affect rates, such as your claims history. Carriers believe someone who has filed several claims in the recent past is more likely to file another and cost the company money. Someone with a claims history can have higher premiums than someone who has never filed.

Is Home Insurance Required in Dunedin?

While home insurance isn’t required by law in Dunedin, it can be required by mortgage lenders. Lenders mandate home insurance in their loans.

If you have a mortgage on your home, your lender will likely require you to have homeowners insurance as a condition of the loan. This is to protect the lender’s financial interest in the property. Lenders usually specify minimum coverage requirements.

If you don’t maintain your own coverage, your lender will force place coverage on you. Force-placed insurance is more costly and less comprehensive than standard insurance. Avoid force-placed coverage by finding a policy and making your payments on time.

How to Get Home Insurance Quotes in Dunedin, Florida

You should always shop around for homeowners insurance quotes in Dunedin. If you want help during this shopping process, turn to our team at Clovered.

We’re an independent insurance agency based in Fort Lauderdale. You’ll be talking to fellow state residents, who are happy to help you find the coverage you need at the price you want. Speak to one of our licensed agents for a quote at 833-255-4117 during business hours.

You can also use our online quoting tool to compare and buy policies entirely online. You can also shoot us an email 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.

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