Homeowners Insurance Premium At Closing

Home insurance is must-have insurance in any state as it protects one of your major investments. Your homeowners insurance premium at closing will typically fall into the prepaid costs category of your closing costs. Home is one of the biggest investments for all of us, and we need proper insurance to protect it. This blog will discuss the typical home insurance cost in Florida and also the various coverages a home insurance policy covers.  

Homeowners Insurance Premium At Closing

Home insurance cost in Florida is expensive compared to all other states. This is due to the high risk of floods and hurricanes. The average home insurance cost in Florida comes up to $1,736 and can differ from city to city. Similarly, as per Chris at ValuePenguin, the cost can go down to $519, but it majorly depends on location and type of property. Instead of searching for typical home insurance cost in Florida, it’s better to find the one that protects your house and saves you from different disasters.

As a result, make sure you speak with an insurance agent and get the best insurance quotes for your age. In order to have quality treatment, it’s still a good thing to provide independent insurance. In addition, various insurance marketing programs exist, such as multi-policy discounts, multi-vehicle discounts, and so on. Therefore, make sure insurers offer marketing for insurance in order to reach out to much larger audience.

Insurance coverages and Homeowners Insurance Premium At Closing

The coverages under the home insurance policy are:

  • Damage from hail
  • Windstorms
  • Damages from falling objects
  • Lighting strikes
  • Fire damages
  • Theft and vandalism
  • An explosion in the home

Similarly, these damages fall under the dwelling policy, which protects your home’s physical structure from the above-listed damages. In addition to dwelling policy, some of the other coverages in typical home insurance cost in Florida are:

  • Personal property policy will cover the damages and losses of your personal belongings that are inside your home.
  • A liability protection policy is an important policy, and it covers the damages or injuries caused to other individuals on your property. It mainly covers the legal expenses if the other party files a lawsuit.
  • Medical payment covers the medical expenses of the injury caused to other individuals on your property.
  • Loss of use is a unique policy that covers your extra living expenses. This means that the policy will cover the hotel cost and food cost when the home is under repair.

typical home insurance cost florida

These are the basic home insurance coverages, and by calculating the average, we can say that the typical home insurance cost in Florida will be between $1,500 to $2,000. In fact, It’s always better to get proper coverage for your home instead of applying for the bare minimum. Also, you may want to read about our blog on Best Teen Car Insurance in Jacksonville.  

Takeaways

Especially in Florida, it’s important to take additional flood insurance as most of the damages caused to homes in Florida are due to floods or hurricanes. We are here to help you get a proper home insurance policy that will protect your property at an affordable price. Also, when consumers search for “insurance agent near me” and select your services, you must remain on top of it and assist them in making the best choices possible. By sharing your needs, we will be able to bundle only those coverages you require and not include the coverages that do not protect you. In addition, we will definitely be able to reduce the cost of unwanted coverages and save your money. Get in touch with our experienced home insurance agency and agents in Florida today!!

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