Key Colony Beach, FL Home Insurance Quotes!
To all Key Colony Beach Homeowners! It is our job to make sure your homeowners insurance policy protects you from financial loss that could occur if your home was damaged. Our Key Colony Beach, FL licensed agents are ready to shop up to 12 competitive home insurance rate quotes for your home to help you save money on your insurance and protect your home from damage. Key Colony Beach homeowners are paying around $135 per month for insurance coverage. Let us help you shop the best rate today!
Did you know that homeowners are protected within a standard home insurance policy that covers you for losses like: house fires, hurricanes, lightning, wind, theft, vandalism, and even falling objects like tree limbs or power lines. Most home insurance policies provide liability coverage if you were found responsible for someone's injury. Please understand that your standard home insurance policy is not covered for floods, this is a separate policy and can be purchased through your insurance carrier or through the National Flood Insurance Program. If your home is located in a flood zone, you will need us to shop shop you home and flood insurance coverage options to help provide the best rate. We can help you with this service and once you complete a Key Colony Beach, FL home insurance quote request online, our system will know if your home is in a flood zone.
Key Colony Beach, FL Demographics & Home Value Data
The data values below are for the Key Colony Beach, FL (MONROE County) location.
- Key Colony Beach Total Population: 797
- Occupied Home Residents: 1,293
- Average Price of a Home Per Zip Code in Key Colony Beach: $603,000
Key Colony Beach, FL Homeowners Insurance Quotes
If your home in Key Colony Beach is around 1650 square feet or smaller you can easily find cheaper rates in the price range of $1,375 per year for great insurance coverage. Average homeowners near you are paying around $1,625 per year, which is only $135 a month. Your mortgage company will add this into your mortgage along with your property tax. We can help you shop the best home insurance rates for you! Please enter your zip code or call us to get started on reviewing cheaper rate quotes today!
Compare Homeowners Insurance Rates in Key Colony Beach, FL!
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Our Service in Florida
You can feel confident that our experience, integrity and service will help you find the best insurance policy at a price you can afford. We work with a wide variety of insurers in Key Colony Beach, Florida and all of them are top rated "A+" by A.M. Best Rating and have been in business for several decades.
Just a few of the insurers we work include American Integrity Insurance Group, Anchor Insurance, ASI, Bankers Insurance Group, Centauri Insurance, Chubb, Edison Insurance Company, Florida Peninsula Insurance Company, Heritage Insurance, Lexington Insurance, Olympus Insurance, People's Trust Insurance Company, St. Johns Insurance Company and many more.
Average Rates Nearby Key Colony Beach
Are you looking for homeowners insurance in a city near Key Colony Beach? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Key Colony Beach, FL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Key Colony Beach.
Key Colony Beach, FL Home Insurance Average Premiums
$1375 /yr.
For the city of Key Colony Beach, 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) | $1375 /yr. |
| Average Coverage: | $1625 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1925 /yr. |
What is the average home insurance cost for a home in Key Colony Beach, FL?
- • The average homeowners insurance premium paid annually for a home in Key Colony Beach is around $1625 per year.
What does it cost on average per month for home insurance in Key Colony Beach, FL?
- • Homeowners in Key Colony Beach pay an average cost per month around $135.00 for insurance coverage.
Key Colony Beach, FL Coastal Wind, Hail & Flood Information
Key Colony Beach is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Key Colony Beach is know for it's beautiful beaches and waterways. Because Monroe County (FIPS: 12087) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Key Colony Beach, FL.
Coastal Key Colony Beach, Florida Information: To obtain flood insurance coverage, the process usually takes more than 30 days to finalize, if you need flood insurance coverage now, please call us at 888-620-1954.
For more information about your area, please click Coastal Homeowners Insurance in Florida
Key Colony Beach, FL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $898,058 | $782,726 |
| February | $897,107 | $802,367 |
| March | $898,076 | $826,058 |
| April | $901,795 | $851,359 |
Homeowners insurance will help cover the cost to repair or replace your Key Colony Beach 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 Key Colony Beach
- 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 Key Colony Beach, FL homeowners insurance rates all in one place! |
Saving Money Tips on Key Colony Beach Home Insurance
A great way to save money on Key Colony Beach 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 Key Colony Beach area? Check out what homeowners are paying on average for Florida homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 2 ft. | This is the average home elevation in Key Colony Beach, FL | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Key Colony Beach, Florida. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Key Colony Beach, 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 Monroe County.
Florida Homeowners Insurance News & Information
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$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 […]
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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 […]
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Why Are Homeowners Insurance Premiums Rising in 2024? Posted on Tuesday 9th July, 2024
As insurance rates rise at unprecedented rates, homeowners are cutting back on groceries, travel, dining out, and even medication to afford the cost of their insurance premiums. In even more shocking news, 1 in 10 homeowners are even consider moving to an area with lower premiums, according to a recent survey by Claimguide. According to […]
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Coastal Homeowners Insurance in Florida Posted on Monday 8th July, 2024
Florida has it all, constant sunshine, beaches,plenty of restaurants and entertainment. It also has some of the highest homeowner insurance premiums in the country. According to Value Penguin, the Sunshine State has the 14th most expensive homeowner insurance rates in the country with the average premium coming in at $1,727. While insurance premiums are high all […]
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Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
Key Colony Beach, FL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Key Colony Beach 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 Key Colony Beach, FL?
- The average square footage in Key Colony Beach is around 1,643 Sq. Ft. which would cost you around $603,000 to replace the home if you base the home on the price to build per square foot of $367.
Minimum Replacement Cost Total: $603,000
Location: Key Colony Beach, Florida (Monroe County)
Average Building Cost Per Square Foot in Key Colony Beach: $367 (low end)
Average Square Footage in Key Colony Beach: 1,643 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $367 | $603,000 |
| Some Additional Upgrades | $459 | $753,750 |
| Major Home Updates or Advancements | $551 | $904,500 |
The dwelling coverage is calculated by the average cost per square foot ($367) in Key Colony Beach, Florida 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 $1,146,875 (Media price to build of $459 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.