Average Rates by Company for Home Insurance in Pembroke Pines Homeowners insurance in Pembroke Pines isn’t required by law. However, if you have or are seeking a mortgage, your lender will require you to get a policy. Homeowners insurance is mandated as part of all house loan conditions.
Key Takeaways
- The average homeowners insurance cost in Pembroke Pines is about $5,335 annually, which is high, even for Florida standards.
- Monarch National and Citizens have the cheapest home insurance in Pembroke Pines, according to our agency data.
- The best way to save money and find the cheapest policy is to compare quotes and shop around with an insurance agency in Pembroke Pines.
Average Cost of Home Insurance in Pembroke Pines, Florida
The average cost of home insurance in Pembroke Pines is about $5,335 annually, which is nearly double Florida’s statewide average of $2,857.
Relatively speaking, Florida is among the states with the highest cost of homeowners insurance in the nation. On top of that, South Florida’s Broward, Miami-Dade, and Palm Beach counties are the most expensive regions for insurance in Florida due to the extreme hurricane risk and high property values.
However, it’s not all bad news for homeowners in Pembroke Pines. Averages vary by company, and as an independent insurance agency headquartered in Fort Lauderdale, we can list real, average premiums from our policyholders to see where our policyholders were able to save.
| Company | Average Premium |
|---|---|
|
Monarch National |
$3,237 |
|
Citizens |
$3,451 |
|
Safepoint |
$5,180 |
|
American Platinum |
$5,478 |
|
Florida Peninsula |
$5,706 |
|
Edison |
$6,161 |
|
Slide Insurance Company |
$6,672 |
|
Swyfft |
$6,891 |
|
TypTap |
$7,140 |
|
Olympus |
$8,069 |
|
Average |
$5,335 |
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The Cheapest Homeowners Insurance in Pembroke Pines, Florida
Monarch National and Citizens have the cheapest home insurance in Pembroke Pines, according to our data. Florida residents will likely be very familiar with Citizens, the state’s government-run insurer of last resort. Citizens’ rates are publicly subsidized, and you can only qualify for their coverage if you receive three quotes from standard insurers, and their quotes are all 20% higher than your Citizens quote.
Citizens isn’t designed to be your final insurer. If you do get coverage from them, you could be offloaded to a private insurer in short order through Citizens depopulation program.
One of the insurers that’s been approved to take over Citizens policies in the past has been Monarch National, as has Florida Peninsula and Slide Insurance, other carriers on our list. For questions binding with these and any of our other partners, our team of licensed agents at Clovered is here to help you get quotes and shop around.
Best Homeowners Insurance Companies in Pembroke Pines, Florida
The choice of the best insurance company can vary by person depending on your property and coverage needs. We want to help you assess your options. Average premiums are determined from our policyholder data. Financial strength is determined by each company’s ratings from Demotech, a leading insurance industry credit rating agency.
To gauge consumer satisfaction, we used the National Association of Insurance Commissioners’ complaint index, which compares a firm’s consumer complaint performance with other companies in the market. The default index number is 1.0, meaning a company with a complaint index of 2.0 has a complaint value twice as high as expected. So, for their scale, lower is better.
Monarch National
Demotech Rating
A
NAIC Complaint Index
0.60
Average Premium
$3,237
Monarch National has been serving Floridians with a variety of home insurance options since 2015. It was once a subsidiary of the now-defunct Fednat Insurance Company and assumed many of its policies upon Fednat’s liquidation in 2022.
Citizens
Demotech Rating
NR
NAIC Complaint Index
0.69
Average Premium
$3,451
Citizens Property Insurance Corporation is Florida’s state-run home insurer of last resort. It’s a non-profit entity that provides property insurance to state residents who are unable to obtain coverage in the traditional, private market.
Safepoint
Demotech Rating
A
NAIC Complaint Index
3.91
Average Premium
$5,180
Safepoint Insurance has specialized in insuring property in coastal regions since 2013. They sell their policies through independent agents and offer homeowners insurance coverage in seven states.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$5,478
American Platinum Insurance Company, founded in 2011, is a subsidiary of Universal Insurance Holdings, offering home insurance coverage in Florida and Georgia. Policies are available exclusively through independent agents at Clovered.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$5,706
Florida Peninsula Insurance Company was founded in 2005 and focuses on offering coverage in its namesake state. With over 150,000 policies in force in Florida, it just cracks the top ten list of Florida’s largest home insurers.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$6,161
Established in 2006, Edison Insurance Company offers home insurance primarily in Florida through independent agents, like our team at Clovered. It was acquired by Florida Peninsula Insurance Company in 2010, although it still has its own book of business.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$6,672
Slide Insurance Company was founded in 2021 and began operations offering home insurance in 2022. Available in Florida and South Carolina, the company currently has over 300,000 policyholders in the Sunshine State, making it one of Florida’s largest.
Swyfft
Demotech Rating
NR
NAIC Complaint Index
NR
Average Premium
$6,891
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
TypTap
Demotech Rating
A
NAIC Complaint Index
1.48
Average Premium
$7,140
TypTap Insurance Company was founded in 2006 and offers home insurance in over a dozen states. It’s primarily distributed through independent agents, like ours at Clovered.
Olympus
Demotech Rating
NR
NAIC Complaint Index
0.90
Average Premium
$8,069
Olympus Insurance Company has offered home insurance solely in Florida since its founding in 2007, with a general focus on higher-value homes and a count of over 70,000 policyholders.
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What Does Homeowners Insurance in Pembroke Pines, Florida Cover?
Pembroke Pines homeowners insurance covers a multitude of perils like fires, burglary, hurricanes, torrential rains, tornadoes, dog bites, and water damage. From your home’s structure to personal protection that helps keep you financially sound in case of accidents, these are the different coverages included in your policy.
| Coverage | Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage protects the elements that make up the structure of your home, like your roof, foundation, walls, and flooring, if a covered peril on your policy damages them. |
|
Other Structures Coverage |
Other structures coverage covers the elements on your property that aren’t attached to your main home, like your fence, detached garage, pool, or shed, if they’re damaged by a covered peril on your policy. |
|
Personal Property Coverage |
Personal property coverage protects the belongings you store on your property, both inside your main home and outside. It covers clothing, furniture, appliances, and items you may store on your property, like your lawnmower or bicycle. |
|
Loss of Use Coverage |
Loss of use coverage reimburses you for living expenses you incur if you’re forced to move out of your house after a covered peril causes significant damage. Your insurer can pay for temporary housing, gasoline, food, and more. |
|
Liability Coverage |
Liability coverage can help you out if you’re found liable for a guest’s injuries on your property or damage to someone else’s property. It may cover legal fees and medical expenses. |
|
Medical Payments Coverage |
Medical payments coverage may help you pay for minor medical expenses if someone injures themself around your property, regardless of fault. |
How to Get Home Insurance Quotes in Pembroke Pines, Florida
You can get an online quote in minutes by using our proprietary online quoting tool. Or, if you’d rather talk to a person throughout the process, one of our many licensed agents is available to chat by phone Monday through Friday from 8:30 a.m. to 6 p.m. at 833-255-4117. You can also drop us an email anytime at agent@clovered.com.
Pembroke Pines Home Insurance FAQs
Is homeowners insurance required in Pembroke Pines?
What is wind mitigation in Pembroke Pines?
With insurers being such a concern in South Florida, it’s mutually beneficial for residents, builders, and insurers if property owners equip their houses to withstand strong winds. Taking such measures is called wind mitigation, and it will get you steep discounts on your insurance. Wind mitigation features have to do with roof details, like materials and shape, and opening protections, like hurricane windows.
What factors affect Pembroke Pines home insurance rates?
Insurers analyze several factors about policyholders and their properties to determine premiums. Some of the major considerations include house age, size, and location, as well as claims history, policy coverage amounts, and deductibles.
Do you need flood insurance in Pembroke Pines, Florida?
It’s important to note that flooding isn’t covered by your homeowners insurance. Instead, homeowners must bind a separate flood insurance policy from a private insurer or from the National Flood Insurance Program (NFIP). Your lender will require flood insurance if you live in a federally designated high-risk 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?
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.
