Homeowners Insurance in Lauderhill, Florida

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  • Homeowners Insurance in Lauderhill, Florida

The suburb of Lauderhill comprises just under 9 square miles west of Fort Lauderdale. Originally known for its golf course and vacation potential, Lauderhill has transformed into a bustling, affordable city in the heart of Broward County.

Unfortunately, like all South Florida cities, Lauderhill has expensive home insurance rates. You need coverage to protect your property and belongings, but finding affordable coverage isn’t always easy.

Use this guide to make your insurance shopping easier. We break down average rates, cost factors, and more you should know.

How Much Is Homeowners Insurance in Lauderhill, Florida?

The average cost of homeowners insurance in Lauderhill is about $6,701 annually on a $150,000 house, $11,983 on a $300,000 house, and $17,271 on a $450,000 house.

Broward County has the third highest home insurance rates of all counties in the state, trailing only Miami-Dade and Monroe.

Unfortunately, Florida overall ranks among the most expensive states for home insurance in the country,  largely due to the risk of hurricane damage. South Florida is especially prone to these storms and has many high-value properties, leading to especially costly home insurance premiums.

The following table contains average rates from nine common carriers in Lauderhill, segmented by home value.

Average Cost of Homeowners Insurance in Lauderhill
Company $150,000 House $300,000 House $450,000 House
Allstate $2,773 $4,888 $7,045
Citizens $3,707 $6,617 $9,531
Florida Penn $8,103 $14,483 $20,871
Liberty Mutual $3,826 $6,829 $9,837
People’s Trust $10,936 $19,573 $28,218
Southern Oak $10,301 $18,442 $26,590
State Farm $5,332 $9,546 $13,763
Stillwater $3,432 $6,140 $8,850
Universal Property $8,418 $15,071 $21,729
Average $6,701 $11,983 $17,271
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 replacement cost of your house is one of the main drivers of home insurance rates. Larger, more expensive houses cost more to build and thus more to insure.

Your home’s age also influences your insurance premiums. As you’ll see in the following tables, older houses often have higher insurance rates. Due to their dated roofs and components, older homes are more prone to damage.

Wind mitigation is another critical factor that can impact insurance rates in Lauderhill, potentially lowering premiums by thousands. See how these two variables can affect average home insurance costs starting with $150,000 houses.

Cost of Homeowners Insurance on $150,000 House in Lauderhill
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $4,294 $2,059 $1,846
Citizens $5,221 $2,685 $3,215
Florida Penn $11,986 $6,453 $5,869
Liberty Mutual $5,700 $2,503 $3,274
People’s Trust $20,769 $5,533 $6,507
Southern Oak $16,600 $8,544 $5,758
State Farm $8,866 $4,114 $3,016
Stillwater $4,956 $3,116 $2,225
Universal Property $15,911 $4,574 $4,770
Average $10,785 $4,794 $4,524

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. 

Wind mitigation lowered insurance costs on $150,000 homes in Lauderhill by just under $6,000 annually, on average. Depending on the provider, the savings could be even more significant.

Wind mitigation is essential to insurance companies in South Florida because the threat of hurricane wind damage is so substantial. Having wind mitigation features on your hose reduces your chances of damage, thus lowering the risk of insuring your house. This decreased likelihood of property damage lowers your premiums.

Look how your house’s age and wind mitigation affect rates on $300,000 homes.

Cost of Homeowners Insurance on $300,000 House in Lauderhill
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $7,729 $3,706 $3,228
Citizens $9,398 $4,833 $5,620
Florida Penn $21,575 $11,615 $10,260
Liberty Mutual $10,260 $4,505 $5,723
People’s Trust $37,384 $9,959 $11,376
Southern Oak $29,880 $15,379 $10,066
State Farm $15,959 $7,405 $5,273
Stillwater $8,921 $5,609 $3,890
Universal Property $28,640 $8,233 $8,339
Average $19,413 $8,629 $7,908

Wind mitigation reduces Lauderhill home insurance rates by 55%. Premiums on older homes are more than double the insurance costs on newly built homes. Older houses are more likely to suffer damage due to their outdated construction and aging physical components.

New buildings in Florida must follow strict construction codes to ensure they can withstand possible hurricane winds. Older dwellings are not up to these standards and often suffer property damage much more easily.

Additionally, older houses have wear and tear that can compromise many components like the roof, pipes, and foundation. Also, older components have increased chances of failure, which could cause property damage that an insurer doesn’t want to encounter. 

The final table depicts Lauderhill homeowners insurance rates for $450,000 homes.

Cost of Homeowners Insurance on $450,000 House in Lauderhill
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $11,164 $5,353 $4,616
Citizens $13,575 $6,981 $8,037
Florida Penn $31,164 $16,778 $14,672
Liberty Mutual $14,820 $6,508 $8,184
People’s Trust $53,999 $14,386 $16,268
Southern Oak $43,160 $22,214 $14,394
State Farm $23,052 $10,696 $7,540
Stillwater $12,886 $8,102 $5,563
Universal Property $41,369 $11,892 $11,925
Average $19,413 $8,629 $7,908

As you can see, some of these yearly premiums are just untenable. It’s rare to find an old mansion with no wind mitigation. Instead, these average premiums are what rates would be given the conditions.

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 Lauderhill

Allstate generally had the cheapest homeowners insurance in Lauderhill, although this can vary by policyholder, property, and location. You won’t know which company is the cheapest for you until you provide specific information and get quotes.

Allstate is one of the most recognizable insurers in the country. Stillwater Insurance Group, founded in Jacksonville in 2000, had the second-lowest average premiums on our list. 

Citizens Insurance, the third most affordable option on our list, differs from the other companies in that it’s the only state government-run insurer. Citizens is a non-profit backed by the state, which artificially lowers its premiums. The company was originally designed to be an insurer of last resort for residents who can’t find coverage in the private market.

However, the difficulties in the Florida market have caused more people to turn to Citizens than ever intended. As a result, the company is trying to shed policyholders onto other carriers. So, if you choose Citizens now, you may have a different provider in the near future.

Lauderhill Homeowners Insurance Coverages

Every company offers the same coverage areas in their home insurance policies. These coverage areas look like the following:

Lauderhill Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially protects your home’s physical structure, including the roof, walls, flooring, piping, and wiring.
Other Structures Coverage Other structures coverage accounts for fixtures on your property unattached to your main house, such as sheds, fences, detached garages, and pools.
Personal Property Coverage Personal property coverage guards your possessions, including furniture, jewelry, electronics, clothing, tools, art, and more.
Loss of Use Coverage Loss of use coverage helps cover temporary living expenses if you’re forced to move out of your house after suffering major property damage. Your insurer can cover hotel stays, groceries, and more.
Liability Coverage Liability coverage helps pay for medical bills and legal fees if you’re found legally liable for injuries to another person.
Medical Payments Coverage Medical payments coverage is designed to cover minor medical expenses if someone gets hurt around your property, regardless of fault.

How to Get the Best Homeowners Insurance in Lauderhill

Getting the best homeowners insurance in Lauderhill requires understanding your coverage needs and budget. No default policy is perfect for everyone, so you’ll likely need to adjust your plan to fit your situation.

Understand the many parts of your policy to make your coverage the best. Additionally, you should shop around for the cheapest rates.

Understand Exclusions and Endorsements

Your policy covers over a dozen damage sources, officially called perils. Common perils include theft, fire, hurricanes, and water damage. 

You can purchase coverage packages for certain perils and risks if you want to address a gap in your default coverage. This optional coverage is called an endorsement, and you can get endorsements for sinkholes, water backup, valuable belongings, inflation protection, and more. See if you need endorsements after weighing your budget and coverage needs and consulting your insurer.

Know how your policy reimburses you and alter it if you want. After a claim, your insurer will reimburse you for damage at either replacement cost or actual cash value.

Actual cash value coverage in home insurance means your provider will reimburse you for property damage or stolen items after factoring in applicable depreciation. The older the damaged thing or item is, the less you’ll receive for it. Actual cash value never provides a one-to-one reimbursement.

This contrasts with replacement cost coverage, where your insurer will reimburse you what you paid for an item, regardless of age. 

If you have the choice, Replacement cost is preferable, but it’s the more expensive option. Weigh your coverage needs and budget to determine what’s best for you.

Adjust Policy Limits

You can change many policy limits to tailor your plan to your property. 

Set your dwelling limits between 80% to 100% of your home’s replacement cost. The higher your dwelling limit, the more you’ll be covered in case of a total rebuild. You can also raise or lower your liability limits to protect your assets accordingly. Insurers require at least $100,000 in liability coverage, but we typically recommend $300,000 to $500,000 for most people, as it’s better to be safe than sorry.

You can also determine the exact amount of personal property coverage you need by creating a home inventory. If you list all of your possessions and their values, your grand total will be the perfect amount to set your personal property coverage limit.

Shop Around

Everyone wants to save money on home insurance. Shopping around for coverage is the most guaranteed way to find the best price.

Compare rates, endorsement costs, and discounts from multiple companies when looking for Lauderhill homeowners insurance. 

You can also shop around periodically to stay on top of potential savings. Policies are usually effective for one year until your insurer revisits your plan and adjusts your rates to account for market, company, or property changes. You can shop around again and change providers if your rate increases when your policy renews.

What to Know About Flood Insurance in Lauderhill

While we’re breaking down home insurance coverage, we want to emphasize that homeowners insurance doesn’t cover flood damage. Flooding is the country’s most common and costly natural disaster, and it’s always excluded from home insurance.

The Federal Emergency Management Agency (FEMA) reports that nearly every county in the nation has experienced a flooding event in the past three decades. In Lauderhill, rainstorms, especially from hurricanes, can cause substantial flooding. You may be at additional risk if you live on a canal.

Your home isn’t protected from flood damage without flood insurance in Lauderhill. You can get a policy from the National Flood Insurance Program, backed by FEMA, or a growing number of private flood insurers.

Due to Lauderhill’s participation in the NFIP’s Community Rating System, all residents in the city are eligible for up to a 15% discount on NFIP policies, depending on their flood zone.

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 Lauderhill, Florida

Many factors about the policyholder and covered property influence Lauderhill home insurance costs, including:

Location: Homes in damage-prone areas typically have higher premiums. This can include houses in high-crime neighborhoods and flood zones. Conversely, homes in gated communities or near fire stations can receive discounts.

Home Features: Insurers will ask about some of your home’s features that influence rates. Having a pool or trampoline increases your liability risk and often raises rates. On the other hand, having a burglar alarm or deadbolt locks can reduce premiums.

Home Construction: Companies will examine many aspects of your home’s construction to assess its likelihood of suffering damage. Homes that are more prone to damage have higher insurance premiums. Old roofs, pipes, HVAC, and wiring can raise rates. 

Claims History: A person or property with a history of home insurance claims indicates a higher risk for the insurance company and often pays higher insurance rates. When quoting, carriers will usually ask if you’ve filed any claims in the past three to five years.

Policy Deductible: hanging your policy deductible is a quick way to raise or lower your rates. Your deductible is the amount you must pay when filing a claim. Raising your deductible makes you more financially responsible in a claim, reducing your risk to the insurance company and your rates.

Is Home Insurance Required in Lauderhill?

Homeowners insurance isn’t required by law in Lauderhill. However, mortgage lenders usually require coverage as part of their home loans.

Most people buy their house with the help of a mortgage lender. Lenders put significant amounts of money down as part of the process. To protect their investment, lenders require buyers to carry home insurance for the duration of their loan.

If you don’t secure your coverage on your own, your lender will force place insurance on you. Force-placed insurance is more expensive and less comprehensive than plans you can find yourself. We suggest avoiding force-placed insurance at all costs. Take the time to shop around and find the right home insurance, and make your premium payments on time.

How to Get Homeowners Insurance Quotes in Lauderhill

When seeking homeowners insurance quotes in Lauderhill, don’t hesitate to reach out for help if you need it. Consulting insurance experts will guarantee you’re not missing out on home protection.

We’re Clovered, an independent insurance agency based nearby in Fort Lauderdale. Many of our team members live and work in the community, making protecting our fellow residents even more important.

Chat with one of our licensed agents for a Lauderhill home insurance quote by calling 833-255-4117 during business hours. 

You can also quote online using our quoting platform. After you enter some information about yourself and your property, you can compare your coverage options in just a few minutes.

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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