Homeowners Insurance in Sunrise, Florida

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  • Homeowners Insurance in Sunrise, Florida

Sunrise’s location at the heart of Broward County makes it convenient to much of what South Florida has to offer, from entertainment and shopping to the beaches. Homeownership is a milestone for most people, especially in a desirable area like Sunrise.

Your home deserves the right financial protection through a homeowners insurance policy. South Florida is prone to hurricanes that can devastate properties.

Read on to learn the important average costs, rate factors, and other important details about homeowners insurance in Sunrise.

How Much Is Homeowners Insurance in Sunrise, Florida?

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

While Sunrise is much more inland than many other Broward County cities, all locations in South Florida are subject to high insurance premiums because of the area’s susceptibility to significant hurricane damage and lofty property values.

Florida has the highest average rates of all states in the country. In the table below, You’ll see average Sunrise premiums from nine common carriers. The numbers are classified based on home value, an important factor in insurance rates.

Average Cost of Homeowners Insurance in Sunrise
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
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Rates vary by company, by tens of thousands of dollars. Insurance companies weigh the factors that affect rates differently, leading to variations in premiums for homes of similar value. 

Despite these differences, you’ll notice that average premiums always rise as home value increases. This occurs because larger, more costly homes have higher replacement costs.

Replacement cost is the amount of money needed to rebuild your property from scratch based on materials and construction expenses. It’s a primary driver of insurance rates as it indicates how much insurance your home’s structure needs.

Two more critical factors of insurance premiums are your home’s age and ability to withstand strong winds, as they influence the susceptibility to property damage.

For an in-depth breakdown of insurance rates in Sunrise, look at the table below that focuses on $150,000 homes, showing the effects of your home’s age and wind mitigation measures on average rates.

Cost of Homeowners Insurance on $150,000 House in Sunrise
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. 

Older homes generally have higher insurance rates than newer homes because the components in old houses are more likely to cause issues. Some old types of pipes and wiring are inherently dangerous or prone to failure and are red flags to insurance companies. Old roofs are more susceptible to wind damage during hurricanes. Also, general wear and tear on older homes can degrade structural integrity.

Insurers in Florida are particularly worried about hurricanes, which is why wind mitigation benefits rates so much. Insurance companies discount the Sunrise home insurance premiums of houses that are more likely to withstand hurricanes as they won’t suffer as much damage. 

Wind mitigation can save you thousands annually. Look at premiums on $300,000 homes in Sunrise below, accounting for the same factors.

Cost of Homeowners Insurance on $300,000 House in Sunrise
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 reduced average Sunrise homeowners insurance rates by over $10,00 annually or 55% on $300,000 older homes. Newly constructed houses continued to have the lowest rates of the three categories. The final table lists premiums on $450,000 homes in Sunrise. 

Cost of Homeowners Insurance on $450,000 House in Sunrise
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
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 Cheap Homeowners Insurance in Sunrise

Allstate, Stillwater, and Citizens had the cheapest homeowners insurance in Sunrise, on average. You won’t know which company is the most affordable for you until you get quotes, as rates vary based on many variables.

Although Allstate is much more well-known, both Allstate and Stillwater are national carriers offering coverage in all 50 states. Stillwater was founded in Florida with a corporate office in Jacksonville.

Citizens is unique among the insurers we listed as it is a government-created, not-for-profit entity. It was originally established to provide coverage to residents who can’t find a policy in the private insurance market. But, the hard times in the Florida market have forced tens of thousands to turn to Citizens, causing the company to become much larger than anticipated.

Citizens is actively trying to offload policyholders onto private carriers. Additionally, Citizens policies have smaller limits and fewer protections than you can get in a standard policy. Keep their limitations in mind when shopping for insurance.

You won’t know which company has the cheapest homeowners insurance in Sunrise for your circumstances until you shop around and compare rates.

Sunrise Homeowners Insurance Coverages

Home insurance in Sunrise typically consists of several coverage areas designed to protect homeowners from a variety of damage sources, officially termed perils. Here are the key coverage areas commonly included in a standard home insurance plan:

Sunrise Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially protects the physical structure of your home, including the walls, roof, flooring, built-in appliances, and other structural components.
Other Structures Coverage Other structures coverage guards structures on your property that are unattached to your main house, such as detached garages, carports, fences, sheds, and pools.
Personal Property Coverage Personal property coverage covers your belongings, including furniture, clothing, electronics, and other possessions, both inside and outside your home. 
Loss of Use Coverage Loss of use coverage helps with living expenses if your home becomes uninhabitable due to a covered peril. It covers temporary lodging, meals, and other necessary expenses while your house is being fixed.
Liability Coverage Liability coverage provides protection if you or a family member are found responsible for injuring someone or damaging their property. It can cover legal fees, medical expenses, and more.
Medical Payments Coverage Medical payments coverage helps pay medical expenses for minor injuries of guests who are injured on your property, regardless of fault.

How to Get the Best Homeowners Insurance in Sunrise

Getting the best homeowners insurance in Sunrise requires understanding your coverage needs. You need a policy that sufficiently covers your property and liability without breaking the bank. You’ll likely need to adjust some policy details and shop around for the best plan.

Understand Your Coverage Needs

Understanding your coverage needs is the most important part of getting home insurance, as leaving your property exposed after you purchase a policy defeats the purpose of having the plan. Tailor your coverage amounts to your circumstances, and consider endorsements for risks and items not protected by default.

Most insurers require at least $100,000 in liability coverage. But, we suggest you opt for higher limits of up to $500,000 in most cases. You should get enough liability coverage to protect your assets and then some, as medical bills and legal fees rack up very quickly during a claim.

Make a home inventory for your personal property limit. This list will catalog the value of all your items and give you a precise number of personal property coverage you need. It would also come in very handy if you ever file a claim.

Most insurance providers offer additional coverage for a fee by purchasing add-one called endorsements. Policies have limits for certain types of personal property, such as jewelry, electronics, or art. If you own valuable items, consider adding scheduled personal property coverage to ensure they are adequately insured.

Shop Around

Don’t settle for the first quote you get. The best way to save money on home insurance is by shopping around and comparing rates. Take advantage of price differences in the industry by finding the company offering your needed coverage at the most affordable cost. 

Getting multiple quotes also allows you to gauge the customer service and available discounts among companies and other factors like website intuitiveness, financial rating, and reputation that can influence your decision on a provider.

If you don’t want to tackle your insurance search alone, you can work with a home insurance agency in Sunrise.

What to Know About Flood Insurance in Sunrise

Most residents of Sunrise live in or near a federally designated flood zone. The city’s landscape is low and flat while surrounded by a system of canals and lakes. Flash floods caused by hurricanes, tropical storms, or intense rainfall can cause issues.

We want to make it clear that even the best homeowners insurance in Sunrise won’t come to your aid if you experience flood damage. Homeowners insurance doesn’t cover flooding due to the unpredictable frequency and severity. You’ll have to cover damage out of your own pocket unless you have a separate flood insurance policy.

We recommend looking into flood insurance in Sunrise to fully protect your property. You may be surprised at a plan’s affordability, especially if you’re in a low-risk flood zone. Sunrise residents receive 15% discounts on flood insurance policies from the National Flood Insurance Program (NFIP). 

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 Sunrise

Insurers analyze several variables to determine premiums. Most factors that affect Sunrise, Florida, home insurance rates are characteristics of your home or policy.

Home Features: Homes in areas more prone to damage, such as flood zones or high-crime neighborhoods, will have higher premiums. Living near a fire hydrant or station can give you a discount.

The materials used to build your house can influence your rates, too. Masonry homes can withstand wind and fire damage better and have lower premiums than wooden frame houses.

Older homes may have outdated systems and materials, making them more susceptible to damage. Conversely, installing safety features such as smoke detectors, burglar alarms, deadbolt locks, and fire extinguishers can often lead to discounts on your premium.

Policy Features: The coverage limits and deductibles you choose also affect your insurance premiums. Higher coverage limits raise rates. Opting for endorsements increases insurance costs. Raising your deductible can lower your rates, as can qualifying for discounts. Always ask your provider for available discounts and how you can qualify.

Is Home Insurance Required in Sunrise?

Homeowners insurance isn’t by law in Sunrise. But, if you have a mortgage, your lender can and will make you get a home insurance plan.

Mortgage lenders require home insurance to protect their financial interest in your property. Your lender put hundreds of thousands, if not more, down on your house, and the insurance policy provides financial protection if the home gets damaged or destroyed. Your insurer would pay you and your lender in case of damage.

Mortgage agreements typically include a clause requiring the homeowner to maintain insurance coverage on the property. Failure to comply with this requirement can lead to force-placed insurance, which isn’t in your best interest.

How to Get Homeowners Insurance Quotes in Sunrise, Florida

You can typically get homeowners insurance quotes in Sunrise online or over the phone. You can also turn to an independent insurance agency for personalized help and expertise during the process.

At Clovered, we can give you as much or as little guidance as you want. Compare rates and policies on your own time with our online quoting tool. Or, chat with one of our licensed agents for your quote by calling 833-255-4117 during business hours.

We’re an independent agency based in Fort Lauderdale, so you’ll be speaking with a fellow Florida resident for help with your home insurance. You can also email us at agent@clovered.com with any questions.

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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