Lake Worth Homeowners Insurance

The small parcel of land that houses the city comes with a decently high price regarding homeowners insurance in Lake Worth. That’s because only a sliver of land separates the city from the Atlantic Ocean, which is home to destructive hurricanes for nearly five months out of the year.

Although hurricanes are covered in homeowners insurance, the number of claims has a significant impact on the city’s premiums. Many more perils, like tornadoes and unexpected house fires, also impact the price of home insurance in Lake Worth. Let’s take a look at the average cost of homeowners insurance, what it covers and much more.

The average cost of homeowners insurance in Lake Worth, Florida is $4,991 per year for a $150,000 house, $8,617 for a $300,000 house and $11,377 for a $450,000 house. That cost may seem relatively high — and it is.

That’s because Florida is regularly among the most costly states for home insurance premiums, and that charge is led in large part by the three South Florida counties of Palm Beach, Broward and Miami-Dade.

But just because the averages seem high, that doesn’t mean you won’t be able to find affordable premiums. One of the more easily controllable factors of your premiums is the company you choose. Just like certain stores have higher prices than others, the same can be said about insurance companies. Let’s dive into average premiums for home insurance in Lake Worth by company.

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.

As we previously mentioned, the average premium prices are heavily dictated by the company you choose. However, those premiums are even more heavily weighted by the year your home was built and if it has proper wind mitigation measures in place to prevent damage from those destructive hurricanes that seem to hit Florida each year.

Homes in Florida were seeing an uptick in expensive damage from hurricanes through the years, so in 2001 legislators vowed to do everything in their power to decrease that trend. To do so, they put legislation into place that required builders to meet stricter building codes designed to prevent damage from heavy winds.

So every home in the state built from 2001 to the present day has those wind mitigation measures in place, including impact-resistant doors and windows, which help to reduce the cost of homeowners insurance premiums drastically. Let’s break down the numbers even further to show what you can expect to pay.

As you can see by the numbers reflected above, the average premiums are nearly cut in half for homeowners with wind mitigation features in effect. Those homes built before 2001 with said features average $3,471 per year — and can pay an average as little as $2,293 with Citizens, the state-run insurer.

For those homeowners with 2001 to present day homes, State Farm averages are the most affordable at $3,117 per year for a $150,000 house. It’s also worth noting that many other factors come into play when considering your premiums, like your policy’s coverage amounts and deductible, your claims history and the location of the home and the area’s crime history.

While those averages are drastically lower than the overall numbers for Lake Worth, you may have trouble finding a house inside the city limits for $150,000. So let’s take a look at the numbers for $300,000 and $450,000 houses.

With Lake Worth homeowners insurance, your property is protected from many uncontrollable weather-related events like hurricanes — which is extremely important given the city’s location near the ocean — as well as other unexpected perils like burglary, water damage, dog bites and fires.

But it’s not just your home that’s protected. Your policy also protects your personal belongings, the things that make your house a home and even unexpected bills if something were to occur. But let’s break those down even further with a few examples.

The most affordable home insurance companies in Lake Worth are Citizens, FedNat, Florida Penn, People’s Trust and Universal Property & Casualty Insurance Company, which are all partners of ours. And since they’re our partners, getting a home insurance quote is much easier for you.

All you need to do is answer a few questions in our online quoting engine, we’ll run some data in the background and then pair you with a policy that fits your needs — and your budget.

Citizens home insurance is the state-run insurer that caters to homeowners with special requirements. While Citizens is among the most affordable in each category of homeowners insurance, it may not be available to everyone in Lake Worth.

You’ll need to meet specific requirements, like having been denied by other carriers or being a high-risk homeowner to qualify for coverage. But even if you do qualify for Citizens, you may not get all the coverage you need, which is just another reason to enlist Clovered to do the legwork for you.

When you choose Clovered for your home insurance needs, getting the best homeowners insurance policy is easy. Simply get a fast, free quote through our online quoting engine and we’ll pair you with a policy in just a few minutes.

We reside at the intersection of technology and real people, so we have a team of licensed, in-house sales and service agents ready to help you or answer any questions you may have along the way. You can reach them Monday through Friday from 8:30 a.m. to 6 p.m. at 833-255-4117 or email us anytime at agent@clovered.com.