Homeowners Insurance in Winter Haven, Florida

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  • Homeowners Insurance in Winter Haven, Florida

With plenty of lakes and sunshine, Winter Haven represents the best parts of Central Florida living. Homeownership is a special milestone for your family and your future, and Winter Haven is a good spot to put down roots.

Protecting your property with the right home insurance is essential for financial security and peace of mind. A policy shields you from unexpected occurrences so you don’t lose out on the things that matter most.

Use this guide to find the best homeowners insurance in Winter Park. 

How Much Is Homeowners Insurance in Winter Haven, Florida?

The average cost of homeowners insurance in Winter Haven is about $2,704 annually on a $150,000 home, $4,829 on a $300,000 home, and $6,957 on a $450,000 home.

While Florida has the highest home insurance rates in the country, Winter Haven residents should be pleased to hear that average rates in Winter Haven come in about 12% below the state average. 

This is mainly attributable to the city’s inland location that shields it from the brunt of hurricane and tropical storm damage. Hurricanes and high property values are two of the main drivers of Florida’s lofty insurance rates.

The following table lists average premiums from nine providers in Winter Haven, so you know what to expect when looking for coverage.

Average Cost of Homeowners Insurance in Winter Haven
Company $150,000 House $300,000 House $450,000 House
Allstate $2,264 $4,043 $5,825
Citizens $1,561 $2,783 $4,008
Florida Penn $2,190 $3,909 $5,630
Liberty Mutual $2,005 $3,576 $5,149
People’s Trust $2,444 $4,364 $6,286
Southern Oak $3,740 $6,695 $9,652
State Farm $2,783 $4,973 $7,166
Stillwater $1,369 $2,448 $3,527
Universal Property $2,650 $4,735 $6,822
Average $2,704 $4,829 $6,957
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.

One of the primary factors determining insurance rates is replacement cost. Your home’s replacement cost is the cost to rebuild it based on construction and labor expenses. Insurers assess square footage, building materials, fixtures, and more to determine an accurate number.

Replacement cost indicates how much insurance the structure of your house needs, which weighs heavily on your premiums. In the table above, you’ll notice that while rates vary by company, they always climb as home value increases. This is because larger, more expensive homes always have higher replacement costs and need more coverage. A high-end mansion costs more to build than a simple dwelling.

Many factors affect rates, and we break down the influence of two more important ones, house age and wind mitigation measures, on homes in Winter Haven below for every home price level.

Cost of Homeowners Insurance on $150,000 House in Winter Haven
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $2,817 $2,156 $1,818
Citizens $1,899 $1,294 $1,489
Florida Penn $2,566 $2,101 $1,902
Liberty Mutual $2,430 $1,678 $1,906
People’s Trust $3,112 $2,168 $2,052
Southern Oak $5,649 $3,382 $2,190
State Farm $3,867 $2,419 $2,062
Stillwater $1,923 $1,229 $955
Universal Property $4,108 $1,786 $2,057
Average $3,612 $2,300 $2,200

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. 

Wind mitigation reduced average rates in Winter Haven on $150,000 homes by about 36% or over $1,300 annually. Wind mitigation features strengthen a building to better withstand wind damage caused by hurricanes, tornadoes, and tropical storms, which home insurance companies in Winter Haven like.

Newly constructed homes tended to have the lowest premiums. New houses often have cheaper home insurance rates than older homes because of their newer components and up-to-date construction methods. 

Homes with modern wiring, plumbing, and roofs are less likely to cause issues related to fire, water, and wind damage. Also, new homes are built to meet current building codes and safety standards, which aids with hurricane resistance in Florida. See more average premiums in Winter Haven below for $300,000 homes.

Cost of Homeowners Insurance on $300,000 House in Winter Haven
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $5,071 $3,881 $3,178
Citizens $3,418 $2,329 $2,603
Florida Penn $4,619 $3,782 $3,326
Liberty Mutual $4,374 $3,020 $3,333
People’s Trust $5,602 $3,902 $3,588
Southern Oak $10,168 $6,088 $3,828
State Farm $6,961 $4,354 $3,605
Stillwater $3,461 $2,212 $1,669
Universal Property $7,394 $3,215 $3,596
Average $6,502 $4,140 $3,846

Wind mitigation continues to slash rates, in some cases bringing premiums below newly constructed homes. The final table lists premiums on $450,000 houses in Winter Haven.

Cost of Homeowners Insurance on $450,000 House in Winter Haven
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $7,324 $5,606 $4,545
Citizens $4,937 $3,364 $3,722
Florida Penn $6,672 $5,463 $4,756
Liberty Mutual $6,318 $4,363 $4,766
People’s Trust $8,091 $5,637 $5,131
Southern Oak $14,687 $8,793 $5,474
State Farm $10,054 $6,289 $5,155
Stillwater $5,000 $3,195 $2,387
Universal Property $10,681 $4,644 $5,142
Average $9,392 $5,979 $5,499
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 Winter Haven, Florida

According to our analysis, Stillwater and Citizens have the cheapest homeowners insurance in Winter Haven. While these companies may be the cheapest on average, you may find differently when getting quotes due to the many factors affecting premiums.

Stillwater is a nationwide insurance carrier founded in Jacksonville, offering products in all 50 states. Citizens differs from Stillwater and the other providers listed above because it’s a not-for-profit insurer funded by the Florida state government. Originally designed to be a last resort option for Florida consumers, Citizens has outgrown its original design and is actively trying to offload policyholders, so keep this in mind when quoting.

Every policyholder is different, and rates vary by company, location, and more. You won’t know which provider has the cheapest homeowners insurance in Winter Haven for your situation until you shop around, which is why we encourage you to take your time and compare rates.

Winter Haven Homeowners Insurance Coverages

Regardless of which company provides your home insurance plan, the standard policy contains six coverage areas to protect your property, possessions, and liability.

Winter Haven Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially protects your home’s structure and systems, including the roof, walls, flooring, pipes, and more.
Other Structures Coverage Other structures coverage covers fixtures on your property that aren’t attached to the main house, such as sheds, fences, pools, and carports.
Personal Property Coverage Personal property coverage accounts for your belongings, including clothes, televisions, computers, furniture, jewelry, tools, and more.
Loss of Use Coverage Loss of use coverage reimburses you for living expenses if you’re forced to move out of your home after it suffers major damage. Your insurer can cover food, lodging, and gas.
Liability Coverage Liability coverage helps cover your finances if someone gets injured on or around your property and pursues you for damages. Your carrier can cover medical bills, legal fees, and more.
Medical Payments Coverage Medical payments coverage is designed to cover minor medical expenses if someone gets injured, regardless of fault.

How to Get the Best Homeowners Insurance in Winter Haven, Florida

Getting the best homeowners insurance in Winter Haven requires understanding your coverage needs. Since every policyholder varies, you need to know how plans work and what you need to be covered to find one that suits your needs. Then, you should shop around to find a good provider at an affordable price.

Address Your Coverage Needs

Ensure your policy limits cover you and your property sufficiently. Guarantee that your dwelling is accounted for properly and insured to at least 80% of its value, if not more. Make a home inventory to determine the precise amount of personal property coverage you need. Increase your liability limits beyond the minimum to cover all your assets. For most people, $300,000 to $500,000 will do.

Be aware of policy exclusions and limitations that could impact coverage. Recognize whether your policy provides replacement cost coverage (which covers the cost of replacing or repairing damaged items without deducting for depreciation) or actual cash value (which factors in depreciation). Replacement cost coverage typically results in higher policy limits.

Certain items are excluded from standard coverage, and you may need an endorsement or rider to capture specific coverage needs, such as protection for high-value art and jewelry or business materials stored at your home.

Find the Right Company

Shop around to compare rates, discounts, and endorsements to save money. Don’t settle for the first quote you get. Another company could have the coverage you need at a better price.

You can also compare customer service among carriers when shopping around. If quoting online, note which providers have better websites and user experiences.

What You Should Know About Flood Insurance in Winter Haven

While looking for the best protection, you might notice that home insurance policies don’t cover flood insurance. Floods are the most common and costly natural disaster in the country, and home insurers can’t afford to cover them in their policies, or else premiums in Florida would become even higher than they are.

Florida is especially prone to flooding due to low-lying terrain bisected by lakes and rivers throughout the state. And, both coasts can experience storm surges during hurricanes and tropical storms.

Winter Haven isn’t immune to flooding. Heavy rains from Hurricane Ian caused some flooding in 2022. Properties near the many lakes that run through the city are also at risk.

A separate flood insurance policy is the only way to protect your property from flooding financially. Don’t overlook the need for flood insurance in Winter Haven, and think about getting a policy today.

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.

Cost Factors of Home Insurance in Winter Haven

Many factors affect premiums. Insurance companies analyze these factors to determine the risk associated with insuring your home. The goal is to set premiums that accurately reflect the level of risk while being certain that the insurer can cover potential claims while remaining financially stable.

Some of the most important factors affecting Winter Haven home insurance rates are:

  • The age and size of your home
  • Home features
  • Policy details
  • Claims history

Companies examine many variables about your home to determine damage likelihood. Houses near the water or in high-crime neighborhoods may have higher premiums, while homes near fire stations can receive discounts.

Old roofs, siding, and other components can increase the chances of property damage and raise rates. Alternatively, security systems, deadbolt locks, and SMART home features can lower premiums.

The extent of coverage, deductibles, endorsements, and discounts will affect your rates. Higher limits or many endorsements will increase the cost of your insurance, while raising your deductible or qualifying for several discounts will lower rates.

Having a history of many home insurance claims with previous insurers will raise future premiums. Policyholders who have filed multiple claims in the past three to five years often pay higher rates since insurance companies are concerned they’ll file another claim.

Is Home Insurance Required in Winter Haven?

Homeowners insurance isn’t legally mandated in Winter Haven. But, when you take out a mortgage to purchase a home, your lender will require you to carry home insurance.

Your lender is investing in your home just as you are. If it gets damaged or destroyed, the lender can ensure it won’t lose its money thanks to the home insurance plan. Lenders require you to carry coverage for the life of your loan. If you don’t, it can force place insurance coverage on you, which would cost you more money than if you maintained a policy on your own.

How to Get Home Insurance Quotes in Winter Haven, Florida

With so much to keep track of when getting homeowners insurance quotes in Winter Haven, it isn’t a bad idea to seek the help of an insurance professional for guidance. We’re Clovered, an independent, Florida-based insurance agency, and we want to help in any way we can.

As an independent agency, we aren’t tied to one insurance company. We’re on your side and can help you choose the best carrier for your needs. Use our online quoting tool to compare rates and find a policy in minutes.

Or, you can call one of our licensed agents at 833-255-4117 during business hours for a quote. You can also email us at agent@clovered.com with any questions.

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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