With 60 parks, seven golf courses, and the famous Hollywood Beach, Hollywood is a haven for homeowners who like to enjoy the abundant sunshine. Add in the city’s ample shopping, diverse entertainment options – including ArtsPark at Young Circle – and numerous nightlife options, and you can see why Hollywood is a popular place to put down roots.
As a homeowner, you know that for all the fun living in Hollywood brings, there’s a certain amount of risk there, too. The smart move? Protecting your property with home insurance from Kin.
How much does home insurance cost in Hollywood, FL?
Florida is the most expensive state for homeowners insurance. The average homeowner pays $2,165 per year for their coverage. Being situated near the coast means Hollywood homeowners likely pay at least that much, if not more for home insurance.
Factors affecting home insurance costs in Hollywood
|
Positive Cost Factors
|
Negative Cost Factors
|
|
Average building costs
|
High property values
|
|
Lower fire risk than other cities in FL
|
Elevated hurricane/wind risk
|
|
Elevated flood risk
|
|
Higher-than-average property crime rate
|
Climate and weather risks in Hollywood play a significant role in your home insurance rates. Hollywood has a tropical rainforest climate (think: hot, humid summers and short, dry winters) and averages 65 inches of rain each year. All of this can be compounded by a hit from a tropical storm or a hurricane.
Unfortunately, hurricanes are a common occurrence in Broward County. A Palm Beach Post study put it at the top of the list for hurricane-vulnerability.
Homes in Hollywood also have an elevated risk for damage caused by floods. That’s hardly surprising, given the city is over 11% water and is just nine feet above sea level.
Between the chance for extreme weather and a median home price of over $430,000, many Hollywood homeowners see higher-than-average home insurance costs. What’s more, the city’s crime rate is also higher than most. Your chance of being a victim of a property crime is one in 48.
Other factors that can influence your Hollywood home insurance costs include:
Note that last one in particular. Florida law requires home insurance companies to offer insurance discounts for hurricane-resistant homes. Reinforcing your roof and installing impact-resistant windows can significantly reduce your insurance bill.
How can I keep home insurance costs down?
Florida home insurance rates seem to always be going up, but we’re committed to helping homeowners find affordable coverage. The first step is working with us. Our technology allows us to mine tons of insurance data so we can better understand your home’s characteristics. That way, we can offer quotes that are more accurate for your risk.
You can also earn discounts for:
Even if you don’t qualify for all the discounts, you may still be able to save on your homeowner insurance by improving your credit score or increasing your deductible. We offer the following options in Hollywood, Florida:
-
Standard deductible
-
$500, $1000, $2,500 $5,000, $10,000, $25,000, or $50,000
-
Hurricane deductible
-
$500 or a percentage of your Coverage A (1%, 2%, 3%, 5%, or 10%)
Remember that you have to pay your deductible before your home insurance begins to pay for a covered loss, so choose the amount wisely.
Frequently asked questions about home insurance
Getting the right policy does require a little research. Use the links below to get started!
Resources of Hollywood homeowners
How to get home insurance in Hollywood, FL?
Getting home insurance in Hollywood is easy when you work with us. Simply enter your address or give us a call at 855-717-0022.
