west-palm-beach-condoAffordable Condo Insurance in West Palm Beach

West Palm Beach is home to 100,000 residents – and it’s easy to see why. Between the city life, the proximity to the beach, and the Grassy Waters Preserve to the west, there’s something for everyone. But it’s a city that really appeals to outdoor enthusiasts, with its activities like the SunFest to kick off summer and the Moonfest to celebrate Halloween. 

Palm Beach is one of the most expensive communities when it comes to housing costs and the cost of living. The median home cost is $1.1 million compared to the rest of Florida at $237,100. That means affordable Florida condo insurance is a must. This guide will consider the risks, costs, and condo insurance coverages in this area.

West Palm Beach Condo Insurance Costs

Your building plays a big role in how much you'll pay for condo insurance. For example, the average cost of Palm Beach condo coverage for a high rise is $1,613 a year with Kin.

The average cost of condo insurance in Palm Beach for a low rise building is $2,383 a year with Kin, about 5 percent less than Safe Harbor Insurance at $2,505 a year.

Average West Palm Beach Condo Insurance Premiums

Structure & Company

Kin

Safe Harbor

Low Rise Average Premium

$2,383

$2,505

High Rise Average Premium

$1,613

$1,488

Remember that the unique qualities of your condo will ultimately determine your rates. These averages are just an illustration to give you an idea about condo insurance costs in your area. Your condo’s construction, exact location, age, and claims history can all impact your rates.

To find out what you’ll pay for coverage, get a quote! It’s quick and easy.

What Does West Palm Beach Condo Insurance Cover?

Your HO6 policy covers what your condo association’s master policy doesn’t. In most cases, a master policy covers the condo’s exterior and common areas like hallways, elevators, pool houses, and courtyards. 

That means your condo insurance can cover:

  • Your dwelling’s interior: This protects the structure from the walls in, like your floors, walls, and ceilings.
  • Personal property: If your belongings are lost because of fire, theft, wind, vandalism, or other types of damage, this can help pay for replacements and repairs. 
  • Loss of use: When a covered claim keeps you from living at home, this can help pay for additional living expenses. 
  • Loss assessment: This can help pay for your portion of the master policy’s deductible or your part of a shared loss. 
  • Personal liability: If you’re sued over someone’s injuries or property damage, this can help pay for legal expenses. 
  • Medical payments: When a guest has a small injury at your home, this can help cover their immediate medical expenses.

Condo Coverage for West Palm Beach Natural Disasters

West Palm Beach has a low crime rate – only 13 crimes per 1,000 residents, far lower than some surrounding communities. The same can’t be said for its exposure to natural disasters. See how condo insurance responds to the area’s common catastrophes.

Palm Beach Hurricane Coverage

Palm Beach has been spared a direct hit by a hurricane in recent years, but residents know that means it’s just a matter of time before it’s their turn. Even being sideswiped by a hurricane will bring high winds and rain that can cause substantial damage.

Good thing our condo policies include hurricane insurance. When a named storm damages your home and you file a claim, your hurricane deductible applies. This deductible is usually a percentage of your dwelling coverage. For example, if you have $250,000 in coverage for your condo and a 3 percent hurricane deductible, your out of pocket cost would be $7,500.

Palm Beach Flood Insurance

Palm Beach County experiences five direct causes of flooding: 

  1. Flash flooding from local precipitation.
  2. General flooding from persistent rains and accumulation of water.
  3. Overflowing bodies of water.
  4. Storm surge.
  5. Dike breaches.

Condo insurance doesn’t cover flood damage. That’s why flood insurance is essential. With Kin, you can just add flood coverage on your condo policy. It starts as low as $175 a year.

Palm Beach Sinkhole Insurance

Palm Beach is part of the Florida landscape prone to sinkholes. The ground has a high concentration of limestone, and when saturated by rain or storms, it can easily collapse. All our condo insurance policies include catastrophic ground cover collapse to address worst-case sinkhole scenarios.

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Tips for Keeping Palm Beach Condo Insurance Affordable

Want to save even more on your West Palm Beach condo coverage? We offer discounts for:

On top of discounts, you can save by increasing your deductible. As a rule, the higher your deductible, the lower your premium. We can help you find the right balance between affordable prices and comfortable out-of-pocket expenses.

Get a quote and get a better West Palm Beach condo insurance policy today!

Learn More about Condo Insurance in Florida

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