Homeowners Insurance in Navarre, Florida

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  • Homeowners Insurance in Navarre, Florida

Although Navarre is one of the largest towns on the Florida Panhandle, it’s still a quiet beach and bedroom community by state standards.

The beachside living isn’t without consequence. Due to its location on the Gulf of Mexico, hurricanes are a consistent threat to Navarre. Avoid the risk of paying for property damage caused by Mother Nature and more with the right homeowners insurance.

Read below for helpful information and important tips to help you find the best homeowners insurance in Navarre.

How Much Is Homeowners Insurance in Navarre, Florida?

The average cost of homeowners insurance in Navarre is about $3,699 per year for a $150,000 house, $6,611 for a $300,000 house, and $9,526 annually for a $450,000 home. 

Home value is a major determinant in insurance rates, and larger, more costly homes generally need more insurance coverage. However, many factors affect premiums, including the company you choose. Rates vary by provider. The table below lists some notable insurance companies in Navarre and their average rates for homes at different price levels.

Average Cost of Homeowners Insurance in Navarre 
Company $150,000 House $300,000 House $450,000 House
Allstate $2,331 $4,167 $6,004
Citizens $2,430 $4,336 $6,244
Florida Penn $3,764 $6,723 $9,685
Liberty Mutual $3,097 $5,523 $7,953
People’s Trust $3,753 $6,706 $9,662
Southern Oak $4,922 $8,820 $12,720
State Farm $3,300 $5,901 $8,504
Stillwater $1,107 $1,979 $2,853
Universal Property $5,049 $9,026 $13,008
Average $3,699 $6,611 $9,526
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.

As you can see, average rates rise as home value increases. Insurance companies determine home value not through your home’s selling price but through its replacement cost. Replacement cost is the monetary amount needed to rebuild your home from the ground up based on labor and construction costs. Homes with higher replacement costs have higher premiums.

In addition to home value, home age and wind mitigation factors also affect insurance rates. Older houses tend to have higher rates since their components, such as roofs, pipes, and siding, could have wear and tear, making the home more susceptible to damage. They’re also not built to modern codes that make newer houses more resistant to hurricane damage.

In Florida, hurricanes are a major concern for insurers. Providers reward policyholders who proactively take measures to limit storm damage. Such efforts, called wind mitigation, involve fitting your house with storm-resistant features, such as hurricane windows, roof straps, and more.

The table below further delves into Navarre homeowners insurance premiums, categorizing rates on new and old homes with and without mitigation for a better picture of the market.

Cost of Homeowners Insurance on $150,000 House in Navarre 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $3,514 $1,806 $1,673
Citizens $3,545 $1,534 $2,211
Florida Penn $5,041 $3,210 $3,041
Liberty Mutual $3,694 $2,637 $2,959
People’s Trust $6,229 $2,152 $2,878
Southern Oak $8,373 $4,078 $2,315
State Farm $4,947 $2,643 $2,311
Stillwater $1,642 $953 $725
Universal Property $8,657 $2,931 $3,558
Average $5,723 $2,674 $2,699

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 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 is critical to lowering insurance premiums. According to the table, the average Navarre home insurance on older dwellings with wind mitigation is 53% lower than older homes without such measures. The trend continues on houses worth $300,000.

Cost of Homeowners Insurance on $300,000 House in Navarre 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $6,325 $3,251 $2,924
Citizens $6,381 $2,761 $3,865
Florida Penn $9,074 $5,778 $5,317
Liberty Mutual $6,649 $4,747 $5,173
People’s Trust $11,212 $3,874 $5,031
Southern Oak $15,071 $7,340 $4.047
State Farm $8,905 $4,757 $4,041
Stillwater $2,956 $1,715 $1,267
Universal Property $15,583 $5,276 $6,221
Average $10,301 $4,813 $4,719

Insurance on newly constructed homes is also significantly cheaper than coverage on older homes. For especially old, valuable homes with no wind mitigation, you can see how annual premiums can be relatively unaffordable.

Cost of Homeowners Insurance on $450,000 House in Navarre 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $9,136 $4,696 $4,181
Citizens $9,217 $3,988 $5,527
Florida Penn $13,107 $8,346 $7,603
Liberty Mutual $9,604 $6,856 $7,397
People’s Trust $16,195 $5,595 $7,194
Southern Oak $21,770 $10,603 $5,787
State Farm $12,862 $6,872 $5,779
Stillwater $4,269 $2,478 $1,812
Universal Property $22,508 $7,621 $8,896
Average $14,879 $6,952 $6,748
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 Navarre, Florida

According to our findings, Stillwater has the cheapest homeowners insurance in Navarre. Allstate and Citizens were also relatively affordable, although the exact cost of a policy depends on many factors. You may find cheap home insurance in Navarre from any of the above providers.

One important thing to note when navigating homeowners insurance in Florida is that Citizens differs from every other carrier. Citizens is run by the state and is intended to be a final option in the market for those who can’t find coverage anywhere else. 

Citizens policies have lower limits and fewer add-ons than other plans. It’s preferable to get coverage from a traditional carrier, if possible.

Navarre Homeowners Insurance Coverages

Shopping among companies will produce different rates, but the standard coverages in homeowners insurance won’t vary. Policies typically include the same coverages at all carriers:

Navarre Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage in homeowners insurance provides protection for your home’s structure and physical components, including the roof, walls, flooring, patios, foundation, wiring, pipes, and more.
Other Structures Coverage Other structures coverage safeguards fixtures on your property that aren’t attached to your main house, such as sheds, gazebos, detached garages, fences, and more.
Personal Property Coverage Personal property coverage financially protects your belongings in and around your home, including furniture, electronics, clothing, tools, jewelry, art, and more.
Loss of Use Coverage Loss of use coverage kicks in if you must move out of your home after it suffers significant damage from a covered loss. Your insurer can cover temporary accommodation, groceries, fuel, and more.
Liability Coverage Liability coverage helps cover expenses and damages if someone is injured on your property or you unintentionally damage someone else’s property.
Medical Payments Coverage Medical payments coverage covers medical bills for minor injuries, regardless of who is at fault.

How to Get the Best Homeowners Insurance in Navarre, Florida

To guarantee you’re getting the best homeowners insurance in Navarre, you need to understand your property’s coverage needs. Once you recognize the specifics of a policy you require, you should compare rates from several companies to get the best deal.

Recognize Coverage Needs

You choose your coverage limits when getting a policy. You want to have the right limits so you don’t underinsure yourself. Make a home inventory list to get a dollar value of your belongings to set as your personal property coverage limits. Assess your need for loss of use and liability coverage.

You may want to look into endorsements or optional additional coverages to fill in some gaps in your policy. Common endorsements include scheduled personal property coverage for high-value belongings (like art and jewelry), water backup coverage for pipe and sewage flooding protection, and a permitted incidental occupancies endorsement for a home-based business.

Adjust Your Deductible

You should also consider adjusting your deductible to change your premiums. The deductible is the amount you agree to pay out of pocket before your insurance coverage kicks in to cover a loss when you file a claim

The general rule of thumb is that higher deductibles lead to lower premiums, while lower deductibles result in higher premiums.

You choose your deductible when you get a policy, and when you choose a higher deductible, you’re essentially taking on more of the financial risk in the event of a claim. Insurance companies reward this willingness to share a larger portion of the potential loss by offering a lower premium.

When deciding on a deductible, consider your financial situation and risk tolerance. Choosing a higher deductible means you’ll have to cover more property damage out of your own pocket before your insurance company helps.

What You Should Know About Flood Insurance in Navarre, Florida

Home insurance policies are designed to safeguard homeowners against a range of perils like fire, theft, and hurricanes. However, they typically exclude coverage for flood damage since floods are extremely costly and more common than you might think. 

Floods stem from natural events like heavy rain, overflowing rivers, or storm surges, resulting in widespread and often catastrophic damage. Due to the scale of potential losses, it’s tricky for insurance companies to include floods in standard plans without significantly increasing premiums. 

You should know that homeowners insurance won’t cover flooding. In a beach community like Navarre, where flooding and hurricane risk is high, you should look into flood insurance to fully protect your property.

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 Navarre, Florida

Insurance companies weigh the risks of every property before insuring them. Riskier homes are homes that are more likely to spawn an insurance claim. Insurers charge more dangerous properties higher premiums to offset the financial risk of covering them.

The main factors that contribute to risk and insurance premiums include the following:

  • Location
  • Home characteristics
  • Policy and personal details

Location

Your home’s location is one of the most significant factors affecting rates of property insurance in Navarre. Insurers assess the risk associated with your area, considering factors like crime rates, proximity to fire stations, and susceptibility to natural disasters. Living in a flood zone or high-crime area can raise premiums.

Home Characteristics

The characteristics of your home, such as its age, construction type, square footage, and materials used, play a role in determining your premiums. For example, newer homes often have lower rates than older houses due to less wear and tear and more contemporary, safer components. Masonry houses tend to have lower premiums than wooden houses because they better withstand severe weather and fire.

Policy and Personal Details

The specifics of the policy you choose also affect your rate. For example, having higher coverage limits results in higher premiums. A higher deductible typically translates to lower rates. Personal details, such as your claims history, also play a role. If you’ve made multiple claims in the past, it might indicate a higher likelihood of future claims, which could result in higher premiums on property insurance in Navarre

Is Home Insurance Required in Navarre?

Homeowners insurance isn’t required by law in Navarre, but lenders require their mortgaged homes to have homeowners insurance.

If you have a mortgage on your home, your lender will likely require you to have homeowners insurance. This is because the lender wants to protect its investment in the property. The insurance guarantees that there is a financial safety net to cover repairs or replacement in case of damage or loss. 

Both you and your lender can recoup the money you’ve put down on your house through the insurance policy.

How to Get Home Insurance Quotes in Navarre

If you’re looking for a home insurance agency in Navarre, look no further than us at Clovered. Headquartered in South Florida, we’re very familiar with the coverage needs of all state residents. Get homeowners insurance quotes in Navarre online or over the phone with one of our licensed agents.

We try to simplify the insurance process. Use our proprietary quoting platform to compare rates online at your own pace on your own time. 

Or, if you’d like to quote with the help of an agent, one of our team members would be happy to help. Feel free to give us a call at 833-255-4117 during business hours, or email us 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.