Lakeland Homeowners Insurance

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  • Lakeland Homeowners Insurance

Nearly smack dab in the middle of Tampa and Orlando, Lakeland, Florida is a bustling city surrounded by beautiful lakes and bodies of water. Its population continues to increase each year, allowing it to crack the top-20 most populous cities in Florida.

With people moving to the city in droves and its unique location near the Gulf Coast, getting homeowners insurance in Lakeland, Florida is extremely important in order to protect your property, personal belongings and much more.

Let’s take a look at what a Lakeland home insurance policy covers, where to get the best one and how much you can expect it to cost.

Average Cost of Homeowners Insurance in Lakeland, Florida

Homeowners in Lakeland can expect to pay about $2,360 per year for a homeowners insurance policy on a house valued at $150,000, $4,083 on a house worth $300,000 and $5,411 on a house worth $450,000.

Seeing how Florida is among the most expensive states in the nation for homeowners insurance, Lakeland residents enjoy a decent discount due to its location inland and away from the brunt force of hurricane winds.

The amount you pay for Lakeland home insurance is determined by a variety of factors, including the company you choose, your claims history, coverage amounts, deductibles, insurance score and your home’s location and crime in the area. But let’s take a look at what you can expect to pay from some of the city’s top insurance companies.

Average Cost of Homeowners Insurance in Lakeland for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

$150,000 House

$1,990
$1,434
$3,717
$2,182
$1,997
$2,432
$2,841
$2,113
$2,360

$300,000 House

$3,494
$2,518
$6,526
$3,831
$3,507
$4,268
$4,988
$3,708
$4,083

$450,000 House

$4,813
$3,460
$8,980
$5,275
$4,812
$5,895
$6,851
$5,124
$5,411

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.

Florida Office of Insurance Regulation Premium Consideration Factors

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.

Pre-2001 Construction w/ Wind Mitigation

This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for maximum wind mitigation features.

Pre-2001 Construction w/ No Wind Mitigation

This risk is for a Florida masonry home with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, and no claims in the past three years. Premium examples are shown for no wind mitigation features.

2001-Present Construction

This risk is for a Florida masonry home with a current replacement value of $300,000, a $500 non-hurricane deductible, a 2% hurricane deductible, no claims in the past three years, and minimum premium discounts for limited wind mitigation features and no hip roof.

*Wind Mitigation

A wind mitigation is 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. Wind mitigations typically result in deep discounts on your home insurance premiums, so you’ll want to get one.

Aside from all the aforementioned factors, two of the biggest insurance rate factors are the year your home was built and whether or not you’ve taken proper steps to protect your home from heavy winds, which will get you a deep wind mitigation discount on your policy.

Prior to 2001, the Sunshine State had more relaxed building codes, which led to significant hurricane damage and costly claims for insurers. But the state updated its building codes in 2001 to mandate the proper protection from hurricane-force winds.

Those new building codes required construction companies to build homes with impact-resistant windows and doors and many other factors that have helped decrease the damage from hurricanes. So let’s dive deeper and get more granular with the average prices you can expect to pay for homeowners insurance in Lakeland, Florida.

$150,000 House in Lakeland for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$2,542
$1,726
$5,304
$2,566
$2,430
$3,154
$3,372
$3,230
$3,131

Pre-2001 w/ Wind

$1,743
$1,273
$2,599
$2,101
$1,678
$2,219
$2,537
$1,464
$2,019

2001-Present

$1,685
$1,303
$3,247
$1,879
$1,883
$1,922
$2,613
$1,644
$1,929

As you can see, homeowners with houses built before 2001 and had a wind mitigation inspection can expect to pay nearly $1,500 less per year than their counterparts with similar homes and no wind mitigation.

But let’s face it. Lakeland is growing at a rapid rate and housing prices are increasing substantially. So it may be tough to find a house within the city limits for $150,000 or less. Let’s take a look at what you can expect to pay for a $300,000 house and a $450,000 house.

$300,000 House in Lakeland for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$4,449
$3,021
$9,282
$4,491
$4,253
$5,520
$5,901
$5,653
$5,409

Pre-2001 w/ Wind

$3,050
$2,228
$4,548
$3,677
$2,937
$3,883
$4,440
$2,562
$3,495

2001-Present

$2,982
$2,306
$5,747
$3,326
$3,333
$3,402
$4,624
$2,910
$3,346

$450,000 House in Lakeland for 2022

Company

ASI
Citizens
FedNat
Florida Penn
Liberty Mutual
People’s Trust
State Farm
Universal Property
Average

Pre-2001 No Wind

$6,355
$4,315
$13,260
$6,415
$6,075
$7,885
$8,430
$8,075
$7,356

Pre-2001 w/ Wind

$4,358
$3,183
$6,498
$5,253
$4,195
$5,548
$6,343
$3,660
$4,871

2001-Present

$3,728
$2,883
$7,184
$4,158
$4,166
$4,253
$5,780
$3,638
$4,067

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 Homeowners Insurance in Lakeland, Florida Cover?

Your home insurance in Lakeland covers you from a multitude of perils, including hurricanes, tornadoes, house fires, torrential rains, other water damage, burglaries, dog bites and so much more. But it doesn’t just protect your house. Your policy also protects your personal belongings and your financial future if an accident were to occur on your property and you’re found liable.

Let’s take a look at the six different coverage types you’ll receive with a homeowners insurance policy from Clovered and detail some examples of what’s covered.

Dwelling Coverage

Covers your home’s structure and the things that help create it, including the fireplace, windows, doors and flooring.

Other Structures Coverage

Covers structures on your property not attached to your house, such as a fence, detached garage, carport or shed.

Personal Property Coverage

Covers the personal belongings you keep inside or on your property, such as a TV, electronics, lawnmower and clothes.

Loss of Use Coverage

Reimburses you for additional living expenses if you’re forced to move from your home while it’s being rebuilt or repaired.

Medical Payments Coverage

Utilized to pay for small medical bills if someone was injured on your property, whether you’re at fault or not.

The Best Home Insurance Agency in Lakeland, Florida

As an insurance agency licensed to operate in Lakeland and the entire state of Florida, Clovered has teamed up with the state’s top insurance companies so we can always provide you the best policy at the best rates.

A few of our partners in Lakeland include Citizens, Universal Property & Casualty Insurance Company, FedNat, People’s Trust and Florida Penn, which are some of the best and most affordable insurance companies in Lakeland.

For a $150,000 house inside the city limits, your yearly homeowners insurance premiums may be the cheapest with Citizens at $1,352, then Florida Penn at $1,449 and then Universal Property & Casualty Insurance Company at $1,583.

However, Citizens is a state-run insurer so its prices are usually the lowest in the state due to the limited number of homes that qualify for it. Private companies like Florida Penn and UPCIC are excellent options for affordable coverage in Lakeland.

Getting Flood Insurance in Lakeland

Given its name and the number of lakes inside the city limits, it likely doesn’t come as a surprise to find out that Lakeland is prone to flooding. Much of the city lies in moderate-risk flood zones, but some areas are at a high-risk for flooding.

Homeowners insurance doesn’t cover flooding anywhere in the country. For coverage, every homeowner in the United States would need to purchase a flood insurance policy, which runs for a fraction of the cost of homeowners insurance in Florida.

A flood insurance policy from Clovered may run you as little as $400 per year for coverage on a $300,000 house. That coverage protects your home’s structure, your personal belongings and even additional living expenses if floodwaters force you out of your home while it’s being repaired.

When you consider that just 1 inch of floodwaters can cause up to $25,000 in damage and that floods are the most common natural disaster in the world, investing in a flood insurance policy is well worth it.

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?

How to Get the Best Home Insurance in Lakeland, Florida

At Clovered, we’ve partnered with the state’s top insurance companies and developed an online quoting tool to provide every person with quality homeowners insurance at an affordable price. Our ability to quote multiple prices at the same time means you can get a quote in just a few minutes and get back to living your life.

Simply answer a few questions about your home, we’ll quickly run the data and pair you with a policy that includes the coverage you need — and none that you don’t — at an affordable price.

You can also contact our licensed, in-house agents by phone Monday through Friday from 8:30 a.m. to 6 p.m. at 833-255-4117 or drop us an email anytime 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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