Get Mary Esther, FL Home Insurance Rates!
The population of Mary Esther is around 3,851 and the average family household is around 3 people per home. Witin this city, it is estimated that a total of 1779 homes are currently insured under a homeowners policy and the total number of occupied households is roughly 1616. The people of Mary Esther that own a home or purchasing a new home are looking to easily compare homeowners insurance rates with competitive pricing and enhanced coverage benefits. We provide a comparision shopping experience that is hassle free and you have the chance to review multiple policy options.
The Cost of Homeowners Insurance in Mary Esther
Home insurance cost is very competitive in the city of Mary Esther. You may be paying an average annual premium of $2,165 while the rest of the country is paying a median price of $1,311 on average with a standard HO-3 homeowners policy. This means that Florida ranks 1 in the country when it comes to comparing average home insurance rates.
| Avg. FL Rate | Discounts | Savings | Shop Rates |
|---|---|---|---|
| $2,165 | up to 40% off | $866 |
Mary Esther Homeowners Insurance Coverage Types
Did you know that Mary Esther homeowners have several options to choose from when it coming to picking the right insurance type for you and your family? Below is a list of a few of the different, yet common homeowners insurance types.
- HO-2: Basic Policy This policy only covers damage from certain perils that are stated in the policy. If the peril is not listed, it will not be covered. Your personal property is also covered. Most home insurance agents don't recommend these policies except for the most basic coverage needs. An HO-2 policy is usually for homeowners with no mortgage that want to pay the cheapest home insurance premium possible and on most situaionts the primary residence is currently paid in full. Most mortgage providers will not allow homeowners to have an HO-2 policy because of the added risk and minimized coverage protection.
- HO-3: Standard Policy This is by far the most common homeowners policy available. It will cover all perils, with the exception of certain perils listed on your policy, such as flooding and earthquake damage.
- HO-4: Renters Policy The HO-4 policy is for renters. It will protect all of the personal property in your apartment, up to your policy limits, as well as offering liability coverage. The liability portion of the policy will protect your financial assets if someone is injured in your apartment. It will pay for any medical costs as well as defend you in a lawsuit if you happen to be sued. These polices are very affordable and should definitely be considered if you currently live in an apartment.
| Demographic | Values |
|---|---|
| Population | 3,851 |
| Total Occupied Households | 1616 |
| Family Households (families) | 1088 |
| Average Owner Occupied Household Size | 2.36 |
| Average Family Size | 2.82 |
| Total Housing Units | 1779 |
The city of Mary Esther has a median household income of $61,551 it is above the national average of $68,703. Housing is another great reason to live in Mary Esther with the average home costing $191,700.
Compare Homeowners Insurance Rates in Mary Esther, 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 Mary Esther, 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 Mary Esther
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Home Insurance Rates by Zipcode in Mary Esther, FL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Mary Esther.
Mary Esther, FL Home Insurance Average Premiums
$1386 /yr.
For the city of Mary Esther, 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) | $1386 /yr. |
| Average Coverage: | $1636 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1936 /yr. |
What is the average home insurance cost for a home in Mary Esther, FL?
- • The average homeowners insurance premium paid annually for a home in Mary Esther is around $1636 per year.
What does it cost on average per month for home insurance in Mary Esther, FL?
- • Homeowners in Mary Esther pay an average cost per month around $136.00 for insurance coverage.
Mary Esther, FL Coastal Wind, Hail & Flood Information
Mary Esther 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 Mary Esther is know for it's beautiful beaches and waterways. Because Okaloosa County (FIPS: 12091) 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 Mary Esther, FL.
Coastal Mary Esther, 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
Mary Esther, FL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $325,185 | $294,774 |
| February | $324,024 | $300,424 |
| March | $323,679 | $306,246 |
| April | $323,596 | $312,026 |
Homeowners insurance will help cover the cost to repair or replace your Mary Esther 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 Mary Esther
- 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 Mary Esther, FL homeowners insurance rates all in one place! |
Saving Money Tips on Mary Esther Home Insurance
A great way to save money on Mary Esther 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 Mary Esther 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 |
|---|---|---|
| 32 ft. | This is the average home elevation in Mary Esther, 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 Mary Esther, 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 Mary Esther, 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 Okaloosa 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 […]
Mary Esther, FL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Mary Esther 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 Mary Esther, FL?
- The average square footage in Mary Esther is around 1,148 Sq. Ft. which would cost you around $191,700 to replace the home if you base the home on the price to build per square foot of $167.
Minimum Replacement Cost Total: $191,700
Location: Mary Esther, Florida (Okaloosa County)
Average Building Cost Per Square Foot in Mary Esther: $167 (low end)
Average Square Footage in Mary Esther: 1,148 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $167 | $191,700 |
| Some Additional Upgrades | $209 | $239,625 |
| Major Home Updates or Advancements | $251 | $287,550 |
The dwelling coverage is calculated by the average cost per square foot ($167) in Mary Esther, 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 $521,875 (Media price to build of $209 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.