Homeowners Insurance in Wellington, Florida

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  • Homeowners Insurance in Wellington, Florida

Wellington is where residents in Palm Beach County go to get more space for their buck while maintaining proximity to the Atlantic Ocean. It’s essential to have homeowners insurance in Wellington to protect your property.

Unfortunately, South Florida has some of the highest home insurance rates in the country, so finding affordable coverage is challenging. Before you buy a policy, use this guide to help with your search for the best homeowners insurance in Wellington.

How Much Is Homeowners Insurance in Wellington, Florida?

The average cost of homeowners insurance in Wellington is about $6,185 annually on a $150,000 house, $11,057 on a $300,000 house, and $15,935 on a $450,000 house.

Florida is one of the most expensive states for homeowners insurance, and South Florida is especially costly due to the high risk of hurricane damage and loads of high-end homes in the region. Palm Beach County has the fourth-highest average premiums in the state, trailing only Broward, Monroe, and Miami-Dade. 

While this sounds like bad news, there’s no need to worry before looking at the numbers in-depth. The home insurance market is complex, as many factors affect rates. You can get significant discounts depending on your property characteristics.

The following table gives you a nuanced look at Wellington home insurance premiums, with rates from nine common companies for houses at three different price levels.

Average Cost of Homeowners Insurance in Wellington
Company $150,000 House $300,000 House $450,000 House
Allstate $3,062 $5,475 $7,890
Citizens $3,537 $6,310 $9,087
Florida Penn $7,152 $12,780 $18,415
Liberty Mutual $3,661 $6,536 $9,414
People’s Trust $8,990 $16,066 $23,149
Southern Oak $9,990 $17,902 $25,819
State Farm $4,359 $7,793 $11,232
Stillwater $2,783 $4,978 $7,175
Universal Property $8,721 $15,595 $22,476
Average $6,185 $11,057 $15,935
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.

Due to the many factors affecting rates and insurance company strategies, rates can vary considerably by carrier. These possible price differences can yield savings for you, so you should always take the time to compare rates when looking for home insurance in Wellington. Don’t settle for the first quote you get.

Although rates vary by company, you’ll always find that insurance costs rise as your home value increases. More expensive houses cost more to cover because they have higher replacement costs

Replacement cost is the amount of money needed to rebuild your house as it is from the ground up based on materials and labor. It’s a primary valuation metric for insurance companies that lets them know how much insurance you need. Naturally, the more coverage you need, the more it will cost.

As we mentioned, many more factors affect rates. Two other variables affecting premiums are home age and wind mitigation. We break down the effects of these factors on homes in Wellington at every price level in the tables that follow, starting with $150,000 houses.

Cost of Homeowners Insurance on $150,000 House in Wellington
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $4,906 $2,143 $2,138
Citizens $5,012 $2,284 $3,316
Florida Penn $10,619 $5,419 $5,419
Liberty Mutual $5,475 $2,362 $3,147
People’s Trust $15,601 $4,580 $6,790
Southern Oak $17,458 $7,884 $4,627
State Farm $6,777 $3,261 $3,038
Stillwater $4,016 $2,479 $1,855
Universal Property $15,523 $4,711 $5,928
Average $9,943 $4,232 $4,380

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. 

Even fairly affordable homes in Wellington can have insurance premiums exceeding $10,000 annually without wind mitigation. Wind mitigation is critical in Florida to prevent possible damage from hurricanes, a major cause of claims and payouts for providers.

Effective wind mitigation on older $150,000 houses effectively cut premiums in half. This trend continues on $300,000 homes.

Cost of Homeowners Insurance on $300,000 House in Wellington
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $8,831 $3,857 $3,737
Citizens $9,022 $4,111 $5,798
Florida Penn $19,114 $9,754 $9,473
Liberty Mutual $9,855 $4,252 $5,501
People’s Trust $28,082 $8,244 $11,871
Southern Oak $31,424 $14,191 $8,089
State Farm $12,199 $5,870 $5,312
Stillwater $7,229 $4,462 $3,243
Universal Property $27,941 $8,480 $10,363
Average $17,897 $7,617 $7,658

Wind mitigation on $300,000 houses in Wellington reduced average rates by over $10,000 annually. Older homes often have higher rates than newer ones because older construction is more prone to damage. 

Aging components, such as roofs and pipes, fail more easily due to wear and tear or outdated design. Also, new homes in Florida are always built with some wind mitigation by default.

The final table shows average Wellington home insurance rates for $450,000 houses in the city.

Cost of Homeowners Insurance on $450,000 House in Wellington
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $12,756 $5,572 $5,344
Citizens $13,031 $5,938 $8,291
Florida Penn $27,609 $14,089 $13,546
Liberty Mutual $14,235 $6,141 $7,866
People’s Trust $40,63 $11,908 $16,976
Southern Oak $45,391 $20,498 $11,567
State Farm $17,620 $8,479 $7,596
Stillwater $10,442 $6,445 $4,637
Universal Property $40,360 $12,249 $14,819
Average $25,851 $11,002 $10,951
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 Wellington

Stillwater and Allstate often had the cheapest homeowners insurance in Wellington, although this won’t always be the case. Rates vary due to many factors, and you won’t know which company is the cheapest for you until you get quotes.

Many factors affect the price of home insurance, including details about your property and coverage needs. Also, business decisions on the carriers’ end may influence premiums. For example, some companies may be looking to expand or withdraw in some areas, raising or lowering premiums in that location. Or, a company may have experienced large losses last year, so they raise rates the next year to recoup funds.

It’s always wise to shop around when looking for coverage. Typical policies last a year at a time before renewing when your company reassesses your rate to see if any changes in your property or risk affect your insurance costs for the upcoming year. You should also check your policy, and if your rate increases, you can shop around again for the cheapest homeowners insurance in Wellington.

Wellington Homeowners Insurance Coverages

Wellington home insurance policies generally contain the same coverage areas regardless of which provider gives the policy. The coverages in a home insurance plan generally look as follows:

Wellington Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage protects your home’s physical structure and components from damage, including the roof, walls, flooring, patios, pipes, and more.
Other Structures Coverage Other structures coverage accounts for features on your property that aren’t attached to the main house, such as sheds, fences, detached garages, gazebos, and pools.
Personal Property Coverage Personal property coverage covers your belongings, including electronics, furniture, clothing, jewelry, art, tools, and more.
Loss of Use Coverage Loss of use coverage helps cover living expenses you’d incur if your home suffers damage that makes it temporarily uninhabitable. Your insurer  
Liability Coverage Liability coverage can pay legal fees and medical bills if someone sues you for injuries they suffer.
Medical Payments Coverage Medical payments coverage is designed to cover minor medical expenses if someone gets hurt around your property, regardless of fault.

How to Get the Best Homeowners Insurance in Wellington

The best homeowners insurance in Wellington varies by person, depending on your coverage needs and budget. There’s no way to recommend the best company because you could have different preferences on customer service and coverage options. 

Instead, we suggest you understand your coverage needs and how to make informed decisions about your policy to adjust it for your needs.

Adjust Policy Limits

You’re responsible for setting most of your policy’s limits when you’re getting a plan. You can change almost every section of coverage to increase protection or lower premiums.

Insurance companies require your dwelling coverage to be at least 80% of your home’s replacement cost. You can increase it to 100% or more for complete protection in case of a total rebuild, but this will cost you. 

Your other structures limit is typically 10% of your dwelling coverage amount. This is sufficient for almost all policyholders, but you might need to consult your insurer if you have several costly other structures, such as an extravagant pool.

We recommend creating a home inventory to value your belongings and give you a precise number to set your personal property limit. And, consider raising your liability limits to cover all your assets financially. For instance, if you have $500,000 in assets, we suggest getting $500,000 in coverage.

Consider Endorsements

Ensure you’re addressing all of your coverage needs by looking at possible endorsements to fill coverage gaps in your policy. Endorsements are additional protections that cover areas or possessions not included in default coverage.

Endorsements and their prices vary by company, but some common ones include those for high-value belongings, home-based businesses, and inflation guards.

Seek Savings

The best insurance policy will protect you sufficiently at the best price. You can save money on your policy by raising your deductible and shopping around.

When getting a policy, you choose your deductible – the amount of money damage must exceed before you can file a claim. Common deductibles range from $500 to $2,000. Selecting a higher deductible means covering more property damage out of your pocket before filing a claim to ask your insurer to cover the damage.

Insurers prefer this as it saves them money. It lowers your financial risk as you have lower odds of filing a claim, which reduces your premiums. So, the higher deductible you choose, the lower your rates.

The most crucial step of your home insurance search is comparing rates among providers. Getting multiple quotes ensures you find the best price for your desired coverage. You can always consult a home insurance agency in Wellington for additional help.

What to Know About Flood Insurance in Wellington, Florida

Homeowners insurance protects your home from a variety of perils, including fires, hurricanes, and theft. While your policy typically covers over a dozen perils in total, one notable damage source never included is flooding.

Flooding is the country’s most common and costly natural disaster, and homeowners insurance policies don’t cover flood damage due to its frequency and unpredictability.

Anywhere it can rain, it can flood. Florida has generally low-lying terrain that can flood from an incident as minor as a thunderstorm or unexpected drainage issues. Hurricanes can also dump large amounts of rain on impact.

Your property isn’t fully protected without a separate flood insurance policy. Wellington residents are eligible for a 20% discount on flood insurance plans from the National Flood Insurance Program (NFIP) when located in high-risk flood zones.

If you’re currently on the hunt for home coverage, we suggest looking into flood insurance in Wellington, also.

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 Wellington, Florida

Several factors affect the cost of home insurance in Wellington. Any aspect of your life or property that increases your financial risk to your insurance company can increase your premiums. Some factors that can raise rates include:


Conversely, factors that can lower Wellington standard homeowners insurance rates include:

  • Proximity to fire stations
  • Security systems
  • High deductibles

Is Home Insurance Required in Wellington?

Homeowners insurance isn’t required by law in Wellington. But, if you have a mortgage, your lender will likely mandate a home insurance policy for the duration of the loan.

Lenders require borrowers to keep home insurance to protect their investments. If your house gets destroyed by a covered peril, all parties can recoup their money through the insurance policy.

Lenders typically include this stipulation in the mortgage agreement, and if you don’t maintain your coverage, your lender has the right to force place insurance on you. Force-placed insurance is more expensive and less comprehensive than a policy you can get on your own, and we recommend avoiding it at all times. 

Take your time to find the right policy, and make your insurance payments on time. Many homeowners pay their policy through escrow to ensure they don’t miss a payment. 

How to Get Homeowners Insurance Quotes in Wellington

There’s a lot of information to keep track of when getting homeowners insurance quotes in Wellington. Be sure you’re covering all your bases on your insurance search with the help of an independent agency. 

Our team at Clovered is based in nearby Fort Lauderdale, so we’re very familiar with South Florida coverage needs. Contact our licensed agents over the phone by calling 833-255-4117 during business hours, or use our online quoting tool at any time on our website to compare plans. 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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