Average Rates for Home Insurance in Winter Haven, Florida by Company 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. If your home gets damaged or destroyed, the lender (and you) can ensure no party loses money thanks to the home insurance plan.
Key Takeaways
- The average cost homeowners insurance in Winter Haven is $3,427 yearly, which is 20% higher than Florida’s statewide average.
- Edison and Citizens have the cheapest home insurance in Winter Haven, according to our agency statistics.
- Shopping for insurance with the help of an independent insurance agent is the most surefire way to find the best coverage and avoid overpaying for a homeowners policy.
How Much Is Home Insurance in Winter Haven, Florida?
On average, home insurance in Winter Haven, Florida, costs about $3,427 annually, about 20% above the state average of $2,857 per year.
Florida tends to have some of the highest home insurance rates in the country, unfortunately. This is mainly attributable to the state’s general susceptibility to hurricane and tropical storm damage. However, Winter Haven’s distance from the coast shields it from the brunt of these storms, and average rates in the city are still lower than those in many of Florida’s major coastal cities with their immense hurricane risk and high property values.
As an independent insurance agency in Winter Haven, we can list real, average rates from our policyholders that may help inform your decisions when seeking home insurance coverage.
|
Company |
Average Premium |
|---|---|
|
Edison |
$2,269 |
|
Citizens |
$2,525 |
|
People’s Trust |
$3,244 |
|
American Platinum |
$3,374 |
|
Swyfft |
$3,801 |
|
Olympus |
$4,338 |
|
Slide Insurance Company |
$5,145 |
|
Average |
$3,427 |
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 Homeowners Insurance in Winter Haven, Florida
According to our data, Edison and Citizens have the lowest Winter Haven home insurance costs. While our policyholders found these companies to be the cheapest on average, you may find differently when getting quotes due to the many factors affecting premiums.
Citizens differs from Edison 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. Our team at Clovered can help you bind with Citizens, but keep in mind that the company actively tries to offload policyholders back into the private market when possible, 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 home insurance in Winter Haven for your situation until you shop around, which is why we encourage you to take your time and compare rates.
Best Homeowners Insurance Companies in Winter Haven, Florida
The best Winter Haven home insurance carrier is a rather subjective choice, as rates, coverage needs, and customer preferences come into play. We want to present some options from our partner companies.
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.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$2,269
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.
Citizens
Demotech Rating
NR
NAIC Complaint Index
0.69
Average Premium
$2,525
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.
People’s Trust
Demotech Rating
A
NAIC Complaint Index
1.44
Average Premium
$3,244
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.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$3,374
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.
Swyfft
Demotech Rating
NR
NAIC Complaint Index
NR
Average Premium
$3,801
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
Olympus
Demotech Rating
NR
NAIC Complaint Index
0.90
Average Premium
$4,338
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
$5,145
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.
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.
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.
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Coverage A, commonly known as dwelling coverage, helps protect the structure of your main home. It protects elements from head to toe, like your roof, walls, plumbing, flooring, and foundation, from damage caused by a covered peril on your policy. |
|
Other Structures Coverage |
Coverage B, otherwise known as other structures coverage, provides coverage for the structures on your property that aren’t attached to your main dwelling. It may cover elements like your shed, fence, detached garage, pool, carport, and more if a covered peril damages them. |
|
Personal Property Coverage |
Coverage C, or personal property coverage, brings you peace of mind when it comes to all the items you store on your property. This coverage can be invoked to repair or replace items like your patio furniture, prized art pieces, swanky espresso machine, and much more should they be damaged by a covered peril or stolen. |
|
Loss of Use Coverage |
Coverage D, or loss of use coverage, can help you and your family should your home be rendered unlivable by a covered peril on your policy. It can help you pay for basic necessities like food, temporary lodging, and gasoline. |
|
Liability Coverage |
Coverage E, also known as personal liability coverage, can help you cover medical expenses and legal fees should you be found liable for a guest’s injuries on your property or damage to someone else’s property. |
|
Medical Payments Coverage |
Coverage F, also referred to as medical payments coverage, can help you cover medical expenses if a guest suffers a minor injury, such as a fractured ankle or a broken tooth, on your property, regardless of who was at fault. |
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.
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.
Winter Haven Home Insurance FAQs
Is homeowners insurance required in Winter Haven, Florida?
What is wind mitigation in Winter Haven, Florida?
Wind mitigation features, like a hip roof and impact-resistant doors and windows, strengthen a building to better withstand wind damage caused by hurricanes, tornadoes, and tropical storms. Insurers are legally required to discount the rates of policyholders with wind mitigation. It can save you thousands of dollars.
What factors affect the cost of home insurance in Winter Haven?
Many factors affect premiums. Insurance companies analyze these factors to determine the risk associated with insuring your home. Some of the most important factors affecting Winter Haven home insurance rates are home age, home size, construction specifics, policy details, and claims history.
Do you need flood insurance in Winter Haven, Florida?
You only need flood insurance in Winter Haven if your lender requires it, which occurs in federally designated high-risk flood zones. 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.
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.
