Winter Park, FL Homeowners Insurance Rate Quotes!
In Winter Park there are over 27,852 people living in a variety of different styles of construction type housing and require different types of homeowners insurance coverage. While there are roughly 17,743 housing units in the Winter Park area, many of the ones that are currently occupied are in need of cheaper or lower rates. In the majority of these Winter Park neighborhoods, the average family size is around 3 residents living per house.
The average household income in Winter Park is about $61,400. While this is a fairly high number, it is slightly below the national median. Luckily, the cost of housing in Winter Park is fairly reasonable, the average listing price is around $315,700.
Finding Cheaper Home Insurance Rates in Winter Park
In Winter Park, homeowners are finding affordable home insurance rates in the range of $1,560 per year. With discounts applied and the right coverage options, homes around the 1,800 square footage size are seeing rates around $1,310 per year. More expensive homes that require high replacement cost value are seeing rates around the $1,860 per year range. It is important to know which coverage type you need for your home. Let us shop the best rates and coverages while appling all the discounts needed to help you save the most on your new homeowners insurance policy.
Below are some of the most common insurance types for homeowners in the city of Winter Park:
What is an HO-3 policy include if you live in Winter Park?
The most common of homeowners coverage is the HO-3. The majority of homeowners carry this type of policy and it covers damage that is caused by all perils unless they are excluded in the body of the policy. Damage that is caused by floods or earthquakes is always excluded on an HO-3 policy but there can be other exclusions as well.
Do I need an HO-6 policy for my condo in Winter Park, FL?
Yes, HO-6 policies are fitted for covering condos. Condos are becoming a popular housing option in Winter Park and if you have one, then you need an HO-6 coverage type. In addition to covering your condo, this type of policy also protects co-ops. This insurance offers coverage for your personal belongings as well as the components of the building that you actually own.
I live in the historical district of downtown Winter Park, what type of coverage do I need?
Winter Park is lucky to have a fair number of historical homes and if you own one, you may need a HO-8 policy. These policy types are specific to older homes where the replacement cost of the house may actually exceed the cash value of the home. The replacement cost may be higher because of the additional work and material needed to restore the home to it's historical detail and value.
These policies are affordable because the payout levels are less than the actual replacement cost of the house. In most cases, the need for an HO-8 policy arises when the house is more than 40 years old and doesn’t qualify for a HO-3 policy. These policies only cover 11 perils.
I am renting a home in Winter Park, what type of coverage do I need?
An HO-4 policy type was designed for people that rent an apartment. It is often referred to as renters insurance. An HO-4 policy will pay out for damage to your personal property in your apartment and it also offers liability protection in the event that someone is injured in your apartment.
Compare Homeowners Insurance Rates in Winter Park, 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 Winter Park, 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 Winter Park
Are you looking for homeowners insurance in a city near Winter Park? 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 Winter Park, FL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Winter Park.
Winter Park, FL Home Insurance Average Premiums
$1310 /yr.
For the city of Winter Park, 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) | $1310 /yr. |
| Average Coverage: | $1560 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1860 /yr. |
What is the average home insurance cost for a home in Winter Park, FL?
- • The average homeowners insurance premium paid annually for a home in Winter Park is around $1560 per year.
What does it cost on average per month for home insurance in Winter Park, FL?
- • Homeowners in Winter Park pay an average cost per month around $130.00 for insurance coverage.
Winter Park, FL Coastal Wind, Hail & Flood Information
Winter Park 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.
Coastal Winter Park, 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
Winter Park, FL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $434,122 | $386,278 |
| February | $434,244 | $394,831 |
| March | $436,138 | $404,211 |
| April | $438,122 | $413,288 |
Homeowners insurance will help cover the cost to repair or replace your Winter Park 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 Winter Park
- 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 Winter Park, FL homeowners insurance rates all in one place! |
Saving Money Tips on Winter Park Home Insurance
A great way to save money on Winter Park 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 Winter Park 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 |
|---|---|---|
| 86 ft. | This is the average home elevation in Winter Park, 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 Winter Park, 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 Winter Park, 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 Orange 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 […]
Winter Park, FL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Winter Park 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 Winter Park, FL?
- The average square footage in Winter Park is around 1,890 Sq. Ft. which would cost you around $315,700 to replace the home if you base the home on the price to build per square foot of $167.
Minimum Replacement Cost Total: $315,700
Location: Winter Park, Florida (Orange County)
Average Building Cost Per Square Foot in Winter Park: $167 (low end)
Average Square Footage in Winter Park: 1,890 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $167 | $315,700 |
| Some Additional Upgrades | $209 | $394,625 |
| Major Home Updates or Advancements | $251 | $473,550 |
The dwelling coverage is calculated by the average cost per square foot ($167) in Winter Park, 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.