Homeowners Insurance in Kissimmee, Florida

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  • Homeowners Insurance in Kissimmee, Florida

Although it’s far from the Florida coastline, the city of Kissimmee has felt the effects of hurricanes throughout its history. And it doesn’t stop there, as tornadoes have also left a devastating mark on the town’s record.

Be financially prepared if history repeats itself with the right homeowners insurance in Kissimmee. A home insurance policy is a quality safety net protecting you and your family in several ways.

Read on for an in-depth breakdown of Kissimmee home insurance and tips on finding the best and cheapest coverage.

How Much Is Homeowners Insurance in Kissimmee, Florida?

The average cost of homeowners insurance in Kissimmee is about $3,049 annually on a $150,000 home, $5,447 on a $300,000 home, and $7,847 on a $450,000 home.

Homeowners insurance rates in Florida are among the highest in the country due to high property values and the overall risk of hurricane damage. As an inland city, Kissimmee is spared from the highest rates that hurricane-prone regions experience on either coast.

The city sits at right about the state average for insurance premiums. Look below at average rates from some common carriers in Kissimmee for homes at three different price levels. 

Average Cost of Homeowners Insurance in Kissimmee 
Company $150,000 House $300,000 House $450,000 House
Allstate $1,892 $3,380 $4,869
Citizens $1,468 $2,621 $3,775
Florida Penn $2,300 $4,107 $5,916
Liberty Mutual $1,621 $2,890 $4,161
People’s Trust $5,316 $9,494 $13,677
Southern Oak $4,264 $7,636 $11,009
State Farm $2,549 $4,556 $6,564
Stillwater $1,182 $2,114 $3,047
Universal Property $1,861 $3,324 $4,788
Average $3,049 $5,447 $7,847
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.

Carriers require your home to be insured to its replacement cost. As houses get larger and more expensive, their replacement cost increases, thus, your premiums also go up.

Replacement cost is the amount needed to rebuild your house from the ground up based on materials and labor. It’s the most common form of valuation that insurance companies use. Many of your policy limits are based on your home’s replacement cost.

In Florida, where hurricanes are a particular concern every year, providers also pay close attention to your home’s age and wind mitigation features. We’ll go further in-depth on these two factors below. The following table depicts home insurance rates in Kissimmee for $150,000 houses.

Cost of Homeowners Insurance on $150,000 House in Kissimmee 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $2,474 $1,730 $1,471
Citizens $1,848 $1,261 $1,296
Florida Penn $2,839 $2,121 $1,940
Liberty Mutual $1,905 $1,373 $1,584
People’s Trust $7,334 $4,241 $4,374
Southern Oak $6,683 $3,768 $2,342
State Farm $3,586 $2,191 $1,869
Stillwater $1,727 $1,009 $811
Universal Property $2,690 $1,373 $1,520
Average $4,136 $2,566 $2,447

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. 

You can see that wind mitigation can yield remarkable savings in Florida. It reduced premiums by $1,570 annually, on average, on $150,000 homes. That’s savings of 38% every year.

You’ll also notice that premiums on older homes were more expensive than on new houses. This occurs because older homes are more prone to damage in several ways. Their older components, from the roof to the foundation, have wear and tear and may be worn, dilapidated, or broken, making them likely to fail and generate an insurance claim.

Newer houses that are freshly inspected with no wear and tear are less risky and thus have lower premiums. Look at the numbers for Kissimmee homeowners insurance rates on $300,000 homes below.

Cost of Homeowners Insurance on $300,000 House in Kissimmee 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $4,453 $3,114 $2,572
Citizens $3,326 $2,270 $2,266
Florida Penn $5,110 $3,818 $3,392
Liberty Mutual $3,429 $2,471 $2,769
People’s Trust $13,201 $7,634 $7,647
Southern Oak $12,029 $6,782 $4,095
State Farm $6,455 $3,944 $3,268
Stillwater $3,109 $1,816 $1,417
Universal Property $4,842 $2,471 $2,658
Average $7,445 $4,618 $4,278

The final table shows insurance costs on $450,000 homes. Without wind mitigation, average rates climb to over $10,000 annually.

Cost of Homeowners Insurance on $450,000 House in Kissimmee 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $6,432 $4,498 $3,678
Citizens $4,805 $3,279 $3,240
Florida Penn $7,381 $5,515 $4,851
Liberty Mutual $4,953 $3,570 $3,960
People’s Trust $19,068 $11,027 $10,935
Southern Oak $17,736 $9,797 $5,856
State Farm $9,324 $5,697 $4,673
Stillwater $4,490 $2,623 $2,026
Universal Property $6,994 $3,570 $3,801
Average $10,753 $6,671 $6,117
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 Companies in Kissimmee, Florida

Stillwater tended to have the cheapest homeowners insurance of all the companies in Kissimmee. Their averages don’t necessarily reflect the premium you’ll experience, though, as many factors affect rates. Premiums vary by company, location, and more. 

Stillwater was founded in 2000 and is headquartered in Jacksonville. Since its founding, it has expanded its offerings to all 50 states. Sometimes, national providers can spread their financial risk out over a larger pool of customers, thus lowering premiums.

But, you won’t know which carrier has the cheapest homeowners insurance in Kissimmee until you get quotes. You may find cheaper rates from a small regional insurer based on discounts or business strategies. You should always shop around for coverage

Kissimmee Homeowners Insurance Coverages

Certain coverages come standard in every insurance policy, regardless of carrier. The most common type of homeowners insurance form is officially called the HO3 policy. Most people seeking home insurance receive an HO3 policy, which includes the following coverages:

Kissimmee Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially protects your home’s physical structure and components, such as the roof, walls, flooring, balconies, HVAC, and more.
Other Structures Coverage Other structures coverage guards features on your property not attached to your main home, including sheds, fences, carports, and pools.
Personal Property Coverage Personal property coverage covers your belongings in and around your home, such as furniture, clothing, electronics, bicycles, art, tools, and jewelry.
Loss of Use Coverage Loss of use coverage helps cover living expenses you’d incur, such as lodging and groceries, if you’re forced to move out of your home after significant property damage.
Liability Coverage Liability coverage can cover medical bills and legal fees if someone suffers an injury at your property and you’re found liable in court.
Medical Payments Coverage Medical payments coverage covers minor injury expenses without the need for legal liability.

Insurance covers your property from several possible damage sources called perils. Common perils include fires, hurricanes, theft, vandalism, and water damage.

How to Get the Best Homeowners Insurance in Kissimmee

Getting the best homeowners insurance in Kissimmee requires an understanding of your coverage needs and taking the time to compare options from a few providers. There’s no one-size-fits-all policy to recommend, as every policyholder is different.

Adjust Your Limits

You set many of your policy limits when quoting, and there are a few guidelines to follow to verify that your plan covers you sufficiently. 

Most insurers require your home to be covered to at least 80% of its replacement cost, but it’s probably best to ensure your policy covers the total cost of rebuilding your home. It’s also important to not set and forget your plan. Review your coverage limits periodically to reflect changes in your property, like if you renovate.

Make a home inventory to determine the precise amount of personal property coverage you need. Document and add up the prices of all your belongings. The final number is what you can set your personal property coverage limit to protect your possessions without overpaying for unneeded coverage. 

Liability limits usually start at $100,000. But depending on where you live, you could be sued for almost all your assets in a worst-case scenario. Ensure you have enough liability coverage to guard everything you own. For most people, this is much more than $100,000.

You may find that standard plans exclude some risks or areas that you need. If needed, you can get endorsements or optional coverage for inflation guards, water backup, valuable possessions, and more.

Find Ways to Save

Once you know the parameters to set, you can look for ways to save money on your policy. You should inquire about discounts and consider adjusting your deductible.

Companies offer discounts for burglar alarms, military status, newly purchased homes, going paperless, paying automatically, and much more. Always ask what discounts you may qualify for to maximize your savings.

You can also think about raising your deductible. Your deductible is the dollar amount property damage must exceed before your insurance company picks up the bill in a claim. Raising your deductible lowers the likelihood of a claim (and increases your potential out-of-pocket expenses) for covering property damage. Insurers reward policyholders who choose higher deductibles with lower premiums.

The best way to save money on home insurance in Kissimmee is by shopping around. You should always compare rates, discounts, and endorsements at different carriers to see which company has the coverage you need at the best price. 

You can also switch providers at any time, so continually check rates, especially if your premiums increase at renewal time. And, you can enlist the help of Kissimmee insurance agencies if needed.

What You Should Know About Flood Insurance in Kissimmee, Florida

Despite the many perils homeowners insurance covers, policies never cover flood damage. Flooding is the most common and costly natural disaster in the nation, and including it in home insurance plans would increase premiums across the board even higher than they already are. 

In Kissimmee, the primary threat of flooding results from the “ponding” of water during heavy storms. Some small ditches and streams can also overflow. The Federal Emergency Management Agency (FEMA) reports that every property is subject to inland flooding risk.

Since your home insurance won’t cover the damage, we want to encourage you to think about getting flood insurance in Kissimmee.

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 Kissimmee

Insurance companies analyze several variables to determine home insurance premiums. Some of the most significant factors that affect Kissimmee home insurance rates include:

  • Home age
  • Home location
  • Home construction materials
  • Home features
  • Policy details
  • Claims history

As we explained earlier, older houses often have higher premiums due to their wear and tear and lack of construction that’s up to code. They’re more likely to suffer damage from wear and tear or a storm. Homes on the water or far from fire stations can have higher premiums, also, as they’re more prone to damage.

Masonry homes made from brick or concrete often have lower premiums than wooden frame houses because they better withstand wind and fire damage. Having high-end features and finishes around your property will also raise rates and insurance costs as these will cost more to cover.

Opting for higher coverage limits and endorsements will raise your rates, while qualifying for discounts will lower them. Also, having a history of filing home insurance claims can raise red flags to insurance companies and cause you to pay higher premiums.

Is Home Insurance Required in Kissimmee?

Home insurance isn’t required by law in Kissimmee, but it’s often necessary because mortgage lenders mandate it.

Your lender has a financial interest in your property. With a homeowners insurance plan in place, you and your lender are guaranteed a payout in the event your house is destroyed. The insurance policy is like a safety net if something goes wrong, so your lender doesn’t lose out on the money it’s invested.

Lenders can force you to carry insurance to cover the mortgage amount if you don’t maintain your own policy. Force-placed insurance is the lender’s choice of home insurance policy they will place on you if you never get your own plan or let your coverage lapse.

Force-placed insurance isn’t in your best interest. It’s less protective and more expensive than coverage you can find on your own, which is another reason why shopping around and finding the right insurance is essential.

How to Get Homeowners Insurance Quotes in Kissimmee

While it might be tempting to settle for the first insurance quote that comes your way, taking the time to explore multiple options can result in significant benefits. Home insurance is a long-term commitment, and the right policy can make a substantial difference in savings, service, and protection over time.

Our team at Clovered wants to help you secure the coverage you need at the price you want. Use our online quoting tool to compare rates from top home insurance companies in Kissimmee quickly and easily.

You can also call us at 833-255-4117 if you want to quote with a licensed agent and fellow Florida resident. We’re based in South Florida, so we’re well-equipped to handle your property’s coverage needs, and we’d be happy to help.

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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