Finding Homeowners Insurance in Fort Lauderdale
Fort Lauderdale once had the reputation for being the destination for spring-breakers, but now the city is a family-friendly place to settle down. Those who live here enjoy resort-style amenities that also accommodate daily life.
It’s no surprise that the city famous for its beaches and water sports and that holds the International Swimming Hall of Fame finds itself in high waters often. The barrage of hurricanes, tropical storms, and flooding can make finding affordable homeowners insurance in Fort Lauderdale a little challenging.
When comparing prices of homeowners insurance, Fort Lauderdale is often more expensive than other Florida cities because of its history of natural disasters and the typically higher-value homes in the area. On average, Kin policyholders in Fort Lauderdale pay $2,075 a year for their homeowners insurance, though rates vary depending on the value of your home and other factors.
Fort Lauderdale Home Insurance Costs
Florida is among the states with the highest average home insurance premiums – national data puts that cost at $1,951 a year. But the insurer you choose can drastically impact how much you pay for coverage. For example, Kin’s Florida policyholders pay $1,091 a year on average.
There is no cookie-cutter approach to homeowners insurance. Personal quotes consider the exact location of your home, your claims history, and the many qualities your home, including size, age, and construction type.
Comparing the cost of homeowners insurance in Fort Lauderdale (part of Broward County), you see the costs vary widely between Kin and other insurance companies.
| Average Fort Lauderdale Home Insurance Premiums by Carrier x Home Value |
|Value of Home||Kin||Security First||Universal Property & Casualty Insurance Company||Tower Hill Preferred||State Farm|
|$150k, Pre-2001 Construction, No Wind Mit||$2,443||$5,154||$7,708||$6,136||$5,607|
|$150k, Pre-2001 Construction w/ Wind Mit||$1,749||$2,687||$2,314||$3,089||$3,430|
|$300k New Construction||$2,035||$4,073||$4,198||$5,367||$5,185|
What those prices don’t tell you is that Kin’s prices include hurricane coverage. Also pay particular attention to how much money you can save by having wind mitigation components installed in your home. It’s nearly a $750 annual savings.
While Kin pulls thousands of data points about each home to make applying for coverage easy, it’s important to talk to your representative if you’ve made recent upgrades. You’ll want your coverage to be able to replace higher-end materials, such as:
- Granite countertops
- Hardwood floors
- Specialty items, like hot tubs
An accurate policy makes claims easier – you don’t want to be surprised by coverage shortfalls.
Basics of Fort Lauderdale Home Insurance
Your home insurance policy is more than just coverage for your actual home. When buying homeowners insurance in Fort Lauderdale, Florida, make sure you have coverage for:
- The dwelling’s replacement cost: This is the amount to rebuild the structure of your home to it’s pre-claim condition.
- Personal property: This insures the total value of your personal belongings (clothing, electronics, appliances, home goods, etc.).
- Loss of use: This pays for you to stay in a hotel or rent a home while your covered home repairs are underway.
- Personal liability: This is your protection for third-party lawsuits against you, such as when your dog bites a neighbor.
You may have coverage needs beyond these basics. For help customizing your policy, chat with a Kin representative.
Fort Lauderdale, Florida’s Biggest Perils
Fort Lauderdale home insurance policies cover standard perils, such as fire, theft, and water damage caused by burst pipes. It’s important to have reliable homeowners insurance in Fort Lauderdale because it has one of the highest crime rates in the country. Additionally, homeowners should understand how their policy addresses natural disasters like hurricanes, floods, and sinkholes.
Fort Lauderdale Hurricane Coverage
More tropical storms and hurricanes hit Florida than any other state, and Fort Lauderdale’s location in the southeast part of the state makes it a prime target for damage. Fort Lauderdale has been hit directly or nearly directly by the eye of Hurricanes Andrew, Wilma, and Katrina, to name a few. More recently, Hurricane Irma devastated the area as a Category 3 storm with winds exceeding 110 miles per hour.
Hurricane insurance pays for claims resulting from the high winds of the storm, such as when a hurricane rips the roof off a home or debris breaks its windows. Kin policies include hurricane insurance – all you need to do is choose the hurricane deductible (a $500 flat fee or 2 percent, 5 percent, or 10 percent of the home’s replacement cost).
Fort Lauderdale Flood Insurance
According to the city of Fort Lauderdale, the majority of residents live in or close to a Special Flood Hazard Area (SFHA), creating high risk of flooding from heaving rains or storm surges. Remember that hurricane insurance won’t cover storm surges or rises in ground water during a hurricane. Only flood insurance does that.
Understanding that even one inch of water can lead to significant structural and property damage, Kin created a flood endorsement that can easily be added to your homeowners policy. This enables homeowners to save money and eliminate coverage gaps.
Sinkhole Coverage in Fort Lauderdale
Sinkholes can happen in any part of Florida due to the high concentration of limestone in the ground. When limestone is saturated, it softens and begins to erode. Significant erosion can create sinkholes.
The good news for Fort Lauderdale residents is that Brower County has a lower risk of sinkholes than other parts of the state. Kin’s policies include catastrophic ground cover collapse, which helps protect residents in lower-risk areas.
Tips for Lowering Fort Lauderdale Home Insurance Costs
When shopping for coverage, look for homeowners insurance discounts. For example, Kin customers in Fort Lauderdale are often eligible for:
- Protective device discounts: Let your representative know if you’ve installed smoke alarms, security systems, and water mitigation devices.
- Wind mitigation credits: Your impact-resistant doors and windows and reinforced roofing may earn you serious savings.
- Secure community discounts: Living in a gated community with or without guards can fetch you a reduced premium.
- New construction discounts: Homes under six years of age are often eligible for a reduced rate.
- Electronic policy discounts: When you opt for online policy management and billing, you earn an easy discount.
Keep in mind that the best way to save money over the long haul is to have a clean claims record. While this may be difficult in areas like Fort Lauderdale, taking preventative measures goes a long way.
For example, installing a reinforced roof can often save you more than 20 percent on your homeowners insurance premium.
Ready to get a homeowners insurance policy with hurricane, flood, and sinkhole coverage? Talk to a Kin representative today.
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