Average Rates for Home Insurance in Pensacola by Company No, homeowners insurance isn’t required by law in Pensacola or anywhere. However, it will be required by a mortgage lender. If you have or are seeking a mortgage, lenders will mandate that you have coverage for the life of the loan to protect their investment.
Key Takeaways
- The average homeowners insurance cost in Pensacola is $3,643 per year.
- Safepoint, Monarch National, and American Integrity had the cheapest home insurance in Pensacola, according to our agency’s data.
- The best way to save money on a home insurance policy is to shop around with the help of insurance agencies in Pensacola, Florida.
Average Cost of Home Insurance in Pensacola, Florida
The average cost of Pensacola home insurance is about $3,643 annually, or about 28% higher than Florida’s average rate of $2,857 annually.
Unfortunately, Florida has some of the highest home insurance premiums in the country due to hurricane risk and generally high property values. These effects are emphasized in coastal regions. Pensacola’s prime location on the Gulf leaves it exposed to hurricanes and floods, which contribute to its higher insurance costs.
As a licensed insurance agency in Pensacola, we can present real, average premiums from our policyholders in the city to help you identify what you might pay.
|
Company |
Average Premium |
|---|---|
|
Safepoint |
$2,087 |
|
Monarch National |
$2,524 |
|
American Integrity Insurance |
$3,236 |
|
American Platinum |
$3,594 |
|
People’s Trust |
$4,026 |
|
Olympus |
$4,381 |
|
Olympus |
$4,381 |
|
Slide Insurance Company |
$4,430 |
|
Swyfft |
$4,517 |
|
Florida Peninsula |
$4,763 |
|
Johnson & Johnson |
$5,558 |
|
Edison |
$6,108 |
|
Average |
$3,643 |
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.
Cheapest Home Insurance in Pensacola, Florida
According to our data, Safepoint, Monarch National, and American Integrity had the cheapest Pensacola, Florida, insurance. These three companies are a good sample of options, as they vary in size and operational ranges; Monarch writes policies in Florida only, American Integrity in three states, and Safepoint in seven.
It’s good to get quotes from insurance companies of all shapes and sizes when shopping around to see the best prices and what you prefer as far as customer service, claims procedures, and more.
There’s no way to know which company will offer the cheapest rates for you until you compare quotes, which is why using licensed agents or insurance brokers in Pensacola, Florida, is so helpful. They can do the heavy lifting for you and go the extra mile to help you save money.
Our Clovered team was built with that exact purpose in mind. We can help you get quotes from all the carriers on the above list and more.
Best Homeowners Insurance Companies in Pensacola, Florida
The best Pensacola insurance companies are difficult to quantify objectively, since rates, coverage needs, and customer preferences all come into play. Nevertheless, we want to present some options to help you shop around.
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 with insurance companies in Pensacola, Florida, 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.
Safepoint
Demotech Rating
A
NAIC Complaint Index
3.91
Average Premium
$2,087
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.
Monarch National
Demotech Rating
A
NAIC Complaint Index
0.60
Average Premium
$2,524
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.
American Integrity Insurance
Demotech Rating
A
NAIC Complaint Index
1.48
Average Premium
$3,236
Established in 2006, American Integrity Insurance has become one of the five largest home insurers in Florida with over 300,000 policyholders in the state. Since its founding, the company has expanded its coverage to Georgia and South Carolina and gone public, trading on the New York Stock Exchange.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$3,594
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.
People’s Trust
Demotech Rating
A
NAIC Complaint Index
1.44
Average Premium
$4,026
People’s Trust Insurance Company was established in 2008 and offers home insurance exclusively in Florida. The company prides itself on its business model, which differs from most carriers in that it retains a network of preferred contractors for claims.
Olympus
Demotech Rating
NR
NAIC Complaint Index
0.90
Average Premium
$4,381
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.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$4,430
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
$4,517
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$4,763
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.
Johnson & Johnson
Demotech Rating
NR
NAIC Complaint Index
NR
Average Premium
$5,558
Johnson & Johnson is an independent insurance brokerage founded in 1930, offering insurance services in all 48 contiguous states. While not an insurance carrier, it can provide the insurance services needed for many types of personal and surplus lines.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$6,108
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.
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.
Pensacola Homeowners Insurance Coverages
The purpose of homeowners insurance is to financially safeguard your property from an unexpected disaster. This includes coverage of more than just your house. The average premiums displayed above reflect a policy that includes these aspects of protection:
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage covers things like the foundation, roof, or walls of your home. It covers the structure of your home should a covered peril on your policy damage it. It may also be called Coverage A. |
|
Other Structures Coverage |
Other structures coverage covers things on your property like sheds, fencing, or garages. It covers the elements of your property that aren’t attached to the main structure of your home. It may also be called Coverage B. |
|
Personal Property Coverage |
Personal property coverage covers your belongings, like furniture, electronics, art, and much more. It may also be called Coverage C. |
|
Loss of Use Coverage |
Loss of use coverage may help you out if your home becomes uninhabitable due to damage caused by a covered peril. It may cover the cost of groceries, temporary housing, or other necessities. It may also be called Coverage D. |
|
Liability Coverage |
Liability coverage protects your liability if a guest injures themself on your property or if a member of your household causes damage to someone else’s property. It may cover legal defense fees and medical expenses. It may also be called Coverage E. |
|
Medical Payments Coverage |
Medical payments coverage may cover medical expenses if a guest sustains a minor injury on your property. It may also be called Coverage F. |
How to Get Homeowners Insurance Quotes in Pensacola, Florida
There are a few relatively easy “shortcuts” that can help you save on home insurance costs. These include bundling your home insurance with your auto policy or raising your deductible. But, the ultimate way to save on homeowners insurance is to do your homework and compare rates with insurance agents in Pensacola, Florida, to see who’s offering the coverage you need at the price you want.
One of the best ways to find cheap insurance in Pensacola, Florida, is through Clovered, an online quote engine designed to pair you with the right coverage. You can customize policies to fit your needs and compare quotes from top providers, including many of the companies mentioned in this article.
Pensacola Home Insurance FAQs
Is homeowners insurance required in Pensacola, Florida?
What is wind mitigation in Pensacola, Florida?
A wind mitigation is any protection on your home that can resist high winds caused by storms like hurricanes. This can include impact-resistant doors and windows, roof attachments and coverings, and extra water-resistant seals. Having wind-mitigation features on your home will reduce your insurance premiums.
What is renters insurance in Pensacola, Florida?
As the name implies, renters don’t need homeowners insurance because they don’t own the properties they live in. Instead, renters need renters insurance, which mainly protects renters’ personal property and liability. Renters insurance plans are much cheaper than homeowners coverage.
What factors affect Pensacola home insurance rates?
Insurance companies weigh the financial risk of each property and policyholder to determiner ates. Some factors insurance companies consider in addition to wind mitigation include age and size of your home, roof, construction features, claims history, coverage amounts, and deductibles.
Do you need flood insurance in Pensacola, Florida?
If your home is located within a flood zone, your mortgage lender may require you to get flood insurance. The Federal Emergency Management Agency (FEMA) creates flood maps nationwide and manages the National Flood Insurance Program. To be financially protected from floods, you’d have to purchase a separate flood policy, either through FEMA or a handful of private flood insurers. In Pensacola, some residential areas along Perdido Bay and along the coast near Big Lagoon are in flood zones.
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.
