Homeowners Insurance in Ormond Beach, Florida

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  • Homeowners Insurance in Ormond Beach, Florida

Ormond Beach, just north of Daytona Beach, is a quiet, historic beachside town. Its location on the Atlantic coast means residents are very exposed to hurricanes every storm season.

Homeowners in Ormond Beach should invest in the right homeowners insurance to protect their property from fire, theft, and more, in addition to the potentially catastrophic hurricanes.

Below, we outline the important details you need to know to find the best homeowners insurance in Ormond Beach.

How Much Is Homeowners Insurance in Ormond Beach, Florida?

The average cost of homeowners insurance in Ormond Beach is about $2,416 annually on a $150,000 home, $4,317 on a $300,000 home, and $6,220 on a $450,000 house. But, average rates vary due to many factors.

Florida has some of the highest homeowners insurance rates in the country. In 2021 and 2022, several carriers went out of business as they could not survive the high costs of covering properties in the state. Unfortunately, these lofty prices get passed to consumers through annual premiums.

Many factors determine the cost of homeowners insurance. One of the most prominent is home value. The table below lists average homeowners insurance rates in Ormond Beach for houses at three different price points from some popular providers.

Average Cost of Homeowners Insurance in Ormond Beach 
Company $150,000 House $300,000 House $450,000 House
Allstate $1,533 $2,739 $3,947
Citizens $1,273 $2,272 $3,271
Florida Penn $2,260 $4,036 $5,814
Liberty Mutual $1,882 $3,357 $4,833
People’s Trust $2,482 $4,433 $6,386
Southern Oak $3,038 $5,441 $7,846
State Farm $2,248 $4,018 $5,790
Stillwater $1,094 $1,957 $2,821
Universal Property $2,615 $4,674 $6,736
Average $2,416 $4,317 $6,220
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.

Insurance companies value homes by their replacement cost, which is the cost to rebuild the property from scratch with materials and labor. It doesn’t include land value, so the replacement cost isn’t the same as the market value of your home.

Home age and the presence of wind mitigation features also influence Ormond Beach home insurance rates. Older houses often have higher premiums because they have outdated components with wear and tear that can more easily break down and cause property damage. Old roofs, pipes, wires, and more are red flags to insurance companies.

Wind mitigation refers to the process of assessing a home’s structural features to determine its ability to withstand damage from strong winds, such as those generated by hurricanes and tropical storms. Insurers evaluate various aspects of your home that contribute to its resilience against high winds. They can look at your roof shape, attachments, doors, windows, and more. Having wind mitigation features lowers insurance premiums in Florida. 

Look at the effects of home age and wind mitigation on average rates in Ormond Beach on $150,000 homes below.

Cost of Homeowners Insurance on $150,000 House in Ormond Beach 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $2,095 $1,354 $1,150
Citizens $1,822 $855 $1,142
Florida Penn $3,038 $1,920 $1,821
Liberty Mutual $2,304 $1,552 $1,790
People’s Trust $3,491 $1,937 $2,018
Southern Oak $4,866 $2,630 $1,619
State Farm $3,223 $1,876 $1,645
Stillwater $1,671 $909 $702
Universal Property $4,329 $1,614 $1,902
Average $3,542 $1,872 $1,834

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, newer homes and older homes with wind mitigation had similar premiums. Houses without wind mitigation had the highest rates. Wind mitigation caused the insurance premiums on older houses to be 46% cheaper on average. Look below at premiums for property insurance in Ormond Beach for $300,000 homes.

Cost of Homeowners Insurance on $300,000 House in Ormond Beach 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $3,771 $2,437 $2,010
Citizens $3,280 $1,539 $1,996
Florida Penn $5,468 $3,456 $3,183
Liberty Mutual $4,147 $2,794 $3,129
People’s Trust $6,284 $3,487 $3,528
Southern Oak $8,759 $4,734 $2,830
State Farm $5,801 $3,377 $2,876
Stillwater $3,008 $1,636 $1,228
Universal Property $7,792 $2,905 $3,325
Average $6,375 $3,369 $3,206

The final table depicts average homeowners insurance rates in Ormond Beach for homes valued at $450,000.

Cost of Homeowners Insurance on $450,000 House in Ormond Beach 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $5,447 $3,520 $2,874
Citizens $4,737 $2,223 $2,854
Florida Penn $7,899 $4,992 $4,552
Liberty Mutual $5,990 $4,035 $4,474
People’s Trust $9,077 $5,036 $5,045
Southern Oak $12,652 $6,838 $4,047
State Farm $8,380 $4,878 $4,113
Stillwater $4,345 $2,363 $1,756
Universal Property $11,255 $4,196 $4,755
Average $9,209 $4,867 $4,584
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.

Which Companies Have the Cheapest Homeowners Insurance in Ormond Beach?

Stillwater and Citizens had the cheapest homeowners insurance in Ormond Beach in many instances. However, the cost of home insurance varies due to many factors, and you may be able to find affordable coverage from any of the carriers listed.

Citizens isn’t meant to be a normal insurance company. Citizens serves as a last-resort option for those who have difficulty obtaining coverage from private insurers due to their location or the risk associated with their property. 

Unfortunately, it has become the go-to for far too many Florida residents thanks to the current difficulty of the market. Citizens is trying to shed policies, and you should avoid them if possible. The state runs it, and it has less flexible policies and stricter limits than standard insurers.

Ormond Beach Homeowners Insurance Coverages

The most common type of homeowners insurance, and the one that we’ve been analyzing here, is the HO3 policy form. HO3 policies come with the same standard coverages regardless of the carrier:

Ormond Beach Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage in homeowners insurance covers your home’s structure and permanent fixtures, including the roof, walls, flooring, balconies, pipes, wiring, and more.
Other Structures Coverage Other structures coverage safeguards features on your property not attached to your main house, such as sheds, fences, carports, pools, detached garages, and more.
Personal Property Coverage Personal property coverage accounts for your belongings at your home, such as your clothing, electronics, furniture, bicycles, small appliances, tools, jewelry, and more. 
Loss of Use Coverage Loss of use coverage provides reimbursement for several living expenses if you’re forced to move out of your home after a covered loss. Your insurer can cover lodging, food, gas, and more.
Liability Coverage Liability coverage covers you financially if you’re found liable for someone’s injury or property damage after a lawsuit. Your insurance company can help pay medical bills, legal fees, and more.
Medical Payments Coverage Medical payments coverage is designed to help cover minor medical expenses, regardless of fault.

How to Get the Best Homeowners Insurance in Ormond Beach

The best homeowners insurance in Ormond Beach will cover your property sufficiently at a price you can afford. To achieve this in a policy, you must identify your coverage needs and budget. Then, compare plans from different companies to find the best deal for your situation.

Consider Coverage Gaps

While all policies come with the same standard coverages, you can add optional protections if you see fit, although these come at an extra cost. For example, if you run a business out of your home, you should look into a permitted incidental occupancies endorsement. This helps cover equipment and spaces you use for commercial purposes normally excluded under standard coverage.

There are add-ons, formally called endorsements, for water backup, identity theft, and more. Depending on your property and financial situation, you may want to add certain endorsements to your policy for complete protection.

Recognize Actual Cash Value vs. Replacement Cost

You might also have to choose how you will be reimbursed for damage when getting your home insurance plan. Carriers reimburse for damaged property and items one of two ways: at actual cash value or replacement cost.

Actual cash value coverage means your provider will deduct depreciation before reimbursing you during a claim. Your insurer will give you less for older items, and you’ll typically never receive the full value of an item as everything depreciates.

Replacement cost coverage, on the other hand, enables your carrier to reimburse you what you paid for an item (or the fair market value) regardless of its age during a claim. Replacement cost coverage is the superior option, but it costs more. Recognize the difference and choose the one that best suits your needs and budget for the best home insurance in Ormond Beach, Florida. 

Shop Around

Once you know what protection you want and how much you need, you should look at your options from multiple insurance companies. Note differences in price, customer service, and more. 

You want a provider that will be there for you when you need it, not a company that causes more headaches when you try to file a claim. It’s a good idea to get in touch with carriers over the phone to gauge their customer service and user experience.

And, of course, look for price differences. You may be able to save money with one company over another for the same coverage. For help shopping around, you could also consult an Ormond Beach insurance agency.

What to Know About Flood Insurance in Ormond Beach

Homeowners insurance in Ormond Beach covers your property from a variety of damage sources that insurers refer to as perils. Commonly covered perils include theft, vandalism, fire, and hurricanes. A major peril from Mother Nature not on the list: floods.

Homeowners insurance doesn’t cover flooding damage. In Ormond Beach, the threat of storm surge from hurricanes is high. You also risk encountering flooding caused by heavy rains and high tides.

Your property likely isn’t fully protected without flood coverage. It may be worthwhile to look into flood insurance in Ormond Beach

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?

Factors That Affect the Average Home Insurance in Ormond Beach, Florida

Generally, home insurance in Ormond Beach is between $2,416 and $6,220 annually, but many factors affect this range. Insurers manage risk, and houses more likely to generate an insurance claim have higher rates. The characteristics of your home, from your roof to your pets, are the primary drivers of insurance premiums.

Factors that make your home riskier and raise rates include:

  • Old roof (15 to 20 years old)
  • Outdated wiring, HVAC, or water heater
  • Attractive nuisances (pools, trampoline, playground equipment)
  • Notoriously aggressive dog breeds

Variables of your home that can lower premiums include:

  • New construction and/or new roof
  • Updated HVAC and water heater
  • SMART home systems
  • Centrally monitored burglar alarms
  • Deadbolt locks

Your past claims history can also impact your premiums. If you or your property has spawned multiple claims recently, the insurance company will see you as a greater financial risk and charge you higher premiums. You typically must disclose your recent insurance history when getting quotes.

The conditions among insurers can also affect your premiums. Providers will change their premiums based on their business needs. For instance, if a company experienced many claims the previous year, they may raise rates to make up for the losses.

Is Home Insurance Required in Ormond Beach?

Homeowner insurance isn’t required by law in Ormond Beach. But, coverage can be required by mortgage lenders.

When you buy a home with a mortgage, your lender will stipulate in the agreement that you must maintain home insurance for the life of the loan. Lenders do this to protect their investments. If a disaster like a fire or hurricane destroyed the house, you and your lender could get back the money you put down through the insurance policy. Without it, there would be no way to recover the funds.

If you buy a house with cash or pay off your mortgage, no one will require you to get homeowners insurance. But, we recommend keeping a policy no matter what. Foregoing insurance makes you responsible for paying all property damage out of your pocket.

How to Get Home Insurance Quotes in Ormond Beach, Florida

For homeowners insurance quotes in Ormond Beach, turn to Clovered for help. As an independent insurance agency, we partner with the top carriers in the state to bring you several options. You can use our online quoting tool to compare companies in your area at your own convenience.

Or, if you’d rather chat with one of our licensed agents for a quote, call our team at 833-255-4117 during business hours. We’re happy to assist with your property insurance in Ormond Beach. You can also email us 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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