jacksonville-condo-insuranceAffordable Condo Insurance in Jacksonville

Jacksonville, Florida, is nestled on the northeastern border where Florida meets Georgia. It’s easy to see why 900,000 residents call Jacksonville home: it’s an affordable place to live; minutes from the beach; and full of parks, restaurants, museums, and zoos. The average home price in Jacksonville is $180,300, about $50,000 less than the state average. 

Florida condo insurance is affordable here, too. Let’s take a look at average Jacksonville condo insurance costs, what condo insurance covers, and common risks in the city.

Jacksonville Condo Insurance Costs

Surprising no one who calls Florida home, the state has some of the highest condo insurance rates in the country. The national average cost of condo insurance is $471, and Florida’s average is $942 a year, according to the National Association of Insurance Commissioners (NAIC).

By contrast, our rates average $717 a year for low-rise condos in Jacksonville and $740 a year for high rises. That’s about 27 percent lower than the state average. Compared to Safe Harbor, our prices are about 12 percent cheaper. See for yourself below.

Average West Palm Beach Condo Insurance Premiums

Structure & Company

Kin

Safe Harbor

Low Rise Average Premium

$717

$804

High Rise Average Premium

$740

$759

Just remember that average costs are not a quote. The only way you’ll know what it costs to insure your condo is to get a quote that factors in your condo’s location, age, construction, safety features, and more.

High-rise condos tend to get lower rates because high-rises are built to withstand hurricane winds and experience less damage in most cases. Being closer to the water can also increase your costs. But being claims free and having a good credit history can help you save money.

What Jacksonville Condo Insurance Covers

Condo insurance (also called an HO6 policy) covers what your homeowners association’s master policy doesn’t. The condo association’s policy usually covers the condo exterior and shared spaces. Your policy usually needs to cover everything from the studs in, including:

  • Dwelling interior: Covers damage to your condo’s interior, such as the floors, ceiling, and walls. 
  • Personal property: Replaces personal belongings lost or damaged in a covered claim. 
  • Loss of use: Pays for additional living expenses when you can’t live in your condo during covered repairs. 
  • Loss assessment: Helps cover shared expenses, like your portion of a repair mandated by your HOA or your portion of the HOA’s master policy deductible.
  • Personal liability: Pays for legal expenses when you’re sued over someone’s bodily injuries or property damage.
  • Medical payments: Covers minor medical bills when a guest is hurt on your property.

Jacksonville Condo Coverage & Natural Disasters

Your condo insurance policy can cover your home for all sorts of risk: wind and fire damage, vandalism, theft, and more. But some major disasters are handled a little differently.

Let’s take a look at how your policy responds to catastrophes. Some coverages are included; others need to be added on.

Jacksonville Hurricane Coverage

Hurricane Dorian was the last major hurricane to pelt the Jacksonville area. Its location is a prime target for Atlantic hurricanes that will make their way up the eastern coastline. Fortunately, all our policies include hurricane insurance in case a major storm hits and damages your home.

Jacksonville Flood Insurance

Homeowners insurance doesn’t include flood insurance, and given Jacksonville’s history of flooding, that’s something every condo owner should prepare for. In August 2020, three inches of rain left Jacksonville’s westside flooded. Without flood insurance, that damage would have to be covered out of pocket.

You can add on flood insurance as an endorsement with us – just ask your representative for a quote!

Jacksonville Sinkhole Coverage

Jacksonville’s soil is filled with rich limestone deposits. When limestone is saturated, it can erode and collapse, causing sinkholes. All our policies include catastrophic ground cover collapse coverage to address the worst-case sinkhole scenarios. You can also add on sinkhole insurance if you want coverage that addresses more types of sinkhole losses.

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Tips for Keeping Jacksonville Condo Insurance Affordable

The easiest way to save money on your condo insurance is to make your home safer. The safer it is, the fewer claims you’ll file, which keeps your rates down over time. We also reward your safety measures with premium discounts. For example, you may save some extra money for:

You can also control condo insurance costs by adjusting your deductible. Taking on a higher deductible reduces your yearly premium. In our online application, you can adjust your deductible and see how it impacts your rate.

Ready for affordable, easy Jacksonville condo insurance? Get a quote today!

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