Get Laceys Spring, AL Home Insurance Rates!
Laceys Spring, AL Homeowner Questions:
What is popluation for Laceys Spring, AL?
The city limit population is around 5,362.
How many homes in this area?
The total amount of homes in the city of Laceys Spring is 2,131 housing units.
What is the average Laceys Spring income?
The average annual income in the Laceys Spring area is estimated to be around $50,417.
What is the average real estate value for a home in Laceys Spring?
The average value of a home in Laceys Spring is $150,600.
What do Laceys Spring residents pay for homeowners coverage on average?
Homeowners insurance is $1,501 per year on average in the Laceys Spring area, this average is based on a standard HO-3 policy. We can help you compare rates and coverage options so you can review affordable rates for your home. Rates can change based on deductibles, risk, coverage options and discounts available. Let us help you shop the best rate for you!
Compare Homeowners Insurance Rates in Laceys Spring, AL!
Get up to 12 competitive Laceys Spring, AL homeowners insurance rates all in one place! |
Average Rates Nearby Laceys Spring
Are you looking for homeowners insurance in a city near Laceys Spring? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
- Danville, AL Home Insurance Quotes
- Decatur, AL Home Insurance Quotes
- Eva, AL Home Insurance Quotes
- Falkville, AL Home Insurance Quotes
- Hartselle, AL Home Insurance Quotes
- Somerville, AL Home Insurance Quotes
- Trinity, AL Home Insurance Quotes
- Valhermoso Springs, AL Home Insurance Quotes
Home Insurance Rates by Zipcode in Laceys Spring, AL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Laceys Spring.
Laceys Spring, AL Home Insurance Average Premiums
$836 /yr.
For the city of Laceys Spring, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $836 /yr. |
| Average Coverage: | $1086 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1386 /yr. |
What is the average home insurance cost for a home in Laceys Spring, AL?
- • The average homeowners insurance premium paid annually for a home in Laceys Spring is around $1086 per year.
What does it cost on average per month for home insurance in Laceys Spring, AL?
- • Homeowners in Laceys Spring pay an average cost per month around $91.00 for insurance coverage.
Laceys Spring, AL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $178,437 | $178,228 |
| February | $186,813 | $178,405 |
| March | $196,722 | $178,772 |
| April | $201,892 | $180,034 |
Homeowners insurance will help cover the cost to repair or replace your Laceys Spring home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Laceys Spring
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Laceys Spring, AL homeowners insurance rates all in one place! |
Saving Money Tips on Laceys Spring Home Insurance
A great way to save money on Laceys Spring homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Laceys Spring area? Check out what homeowners are paying on average for Alabama homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 936 ft. | This is the average home elevation in Laceys Spring, AL | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Alabama flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Laceys Spring, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Morgan County.
Alabama Homeowners Insurance News & Information
-
Do homeowners insurance policies have loopholes? Posted on Monday 30th December, 2024
Homeowners insurance is a necessity to help protect your home, but there can be coverage gaps that you may not be aware of which can leave you unprotected. Flood and earthquake damage along with mold and other issues are excluded from most standard homeowners insurance policies. Here are some common exclusions that could leave you […]
-
2025 – Study Shows Home Insurance Market Stabilizing Posted on Wednesday 11th December, 2024
According to a new report from Matic, the homeowner’s insurance market has shown signs of stabilizing roughly two years after major premium hikes and coverage challenges. Even though premiums are high, trends in the insurance industry show that a slowdown in premium growth may be coming. Here is a brief overview of the report and […]
-
What’s the average home insurance rate for a $300K home in 2024? Posted on Monday 9th December, 2024
A recent report from Insurance.com found that the average homeowners insurance rate for a $300,000 in homeowners coverage hit $2,777 per year which breaks down to $231 monthly. The cost of homeowners insurance in some states can be extremely expensive, for years Florida has been know to have the highest premiums in the nation. When […]
-
$4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024
According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]
-
I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024
According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]
Laceys Spring, AL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Laceys Spring so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Laceys Spring, AL?
- The average square footage in Laceys Spring is around 1,448 Sq. Ft. which would cost you around $150,600 to replace the home if you base the home on the price to build per square foot of $104.
Minimum Replacement Cost Total: $150,600
Location: Laceys Spring, Alabama (Morgan County)
Average Building Cost Per Square Foot in Laceys Spring: $104 (low end)
Average Square Footage in Laceys Spring: 1,448 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $104 | $150,600 |
| Some Additional Upgrades | $130 | $188,250 |
| Major Home Updates or Advancements | $156 | $225,900 |
The dwelling coverage is calculated by the average cost per square foot ($104) in Laceys Spring, Alabama times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $325,000 (Media price to build of $130 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.