Finding Homeowners Insurance in Pensacola, Florida
The folks in Pensacola, the westernmost city along the Florida Panhandle, might know their beloved city by another name: the City of Five Flags. The moniker is a nod to its history under Spanish, French, British, Confederate, and American rule. Fittingly, the city’s claim to fame is being the oldest European settlement in the US.
Residents in the city deal with another kind of history: the region’s nearly 110 rainy days per year with an average precipitation rate of 65 inches each year. The area’s risk of flooding can make it challenging to find affordable homeowners insurance in Pensacola. Luckily, Kin’s rates average just $1,222 a year.
Pensacola Home Insurance Costs
Florida is one of the most expensive states for home insurance because of its hurricane exposure. Among all carriers, the state’s average premium is $1,951 whereas the average cost of Kin’s Florida policies is $1,091 a year.
In other words: where you get your coverage plays a significant role in how much you pay for coverage. Take a look at how homeowners insurance rates vary in Pensacola (part of Escambia County) between Kin Insurance and other carriers.
| Average Pensacola 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||$1,338||$3,031||$2,984||$3,343||$3,483|
|$150k, Pre-2001 Construction w/ Wind Mit||$1,004||$1,649||$1,312||$1,772||$2,223|
|$300k New Construction||$1,323||$3,221||$2,583||$3,152||$3,934|
The cost of your coverage varies depending on where you live (and other factors, like the value of your home and its age), so it’s helpful to look at average costs for your county. That said, the chart above is meant only to be illustrative. The only way to truly know how much you’ll pay for coverage is to get a quote.
It’s also worth noting how your home’s value and its construction impact your premium. Homes built in recent years are less expensive than older homes because the new homes are more wind resistant.
Basics of Pensacola Home Insurance
Buying homeowners insurance in Pensacola, Florida doesn’t have to be complicated. At its most basic, a good policy will offer the following types of coverage:
- Replacement cost dwelling coverage: This is how much you have to rebuild your home to its pre-claim condition.
- Other structures coverage: This helps you repair or rebuild other structures on your property, such as your garage, shed, etc.
- Personal property coverage: This is the total value of your personal belongings, such as clothing, electronics, appliances, your vinyl collection, etc.
- Loss of use coverage: This can help you pay for additional living expenses, like staying in a hotel, while your home is under repair for a covered claim.
- Personal liability coverage: This is how much your provider will pay toward a claim that you damaged someone’s property.
- Medical payments coverage: This is how much your provider will cover for “friendly injuries” on your property – i.e., someone needs medical attention but isn’t likely to sue you.
You may have coverage needs beyond these basics, which is why it’s important to work with an insurer who understands your home’s unique risks. Kin representatives are trained to help you get just the right amount of coverage – not too much, not too little.
Covering Pensacola, Florida’s Big Risks
While homeowners insurance in Pensacola covers a variety of risks, such as fire, wind damage, vandalism, theft, and more, it’s smart to get acquainted with how your policy addresses natural disasters. Let’s take a look.
Pensacola Hurricane Coverage
This part of the Florida Panhandle is often impacted by hurricanes but not directly hit. In 2004, two hurricanes hit as Category 2 and Category 3 storms: Frances and Ivan, respectively. Hurricane season begins June 1 and ends November 30, leaving a lot of time every year for storms to brew and have a direct or indirect impact on Pensacola.
Hurricane insurance pays for damage to your home, belongings, and other structures resulting from the high winds of the storm. All Kin policies include hurricane coverage – you just need to choose your hurricane deductible (a $500 flat fee or 2 percent, 5 percent, or 10 percent of your home’s replacement cost).
Pensacola Flood Insurance
Pensacola is extremely prone to flooding. As Mayor Robinson expressed in a 2019 WARETV news report, “We’re stuck with drainage problems and we have no money.” What this means for Pensacola residents is you are likely to experience a flood from heavy rains and hurricanes, and the city is not prepared to mitigate the risk.
Most flood insurance is written through the National Flood Insurance Program, which is often limited in its coverage. Kin Insurance offers it owns flood endorsement, a cost-effective solution with higher limits and no waiting period to get covered.
Sinkhole Coverage in Pensacola
Sinkholes happen in every part of Florida due to the high concentration of limestone in the ground, and Pensacola is no exception. Heavy limestone deposits make the ground susceptible to collapse once water erodes the limestone.
Kin’s sinkhole coverage helps protect residents in high-risk areas. It can cover sinkhole damage to your home, such as foundation displacement and buckling walls.
Tips for Lowering Pensacola Home Insurance Costs
Even with a low-cost policy, it’s smart to look for additional ways to save on your Pensacola homeowners insurance. For example, ask about discounts for:
- Protective devices, like security and fire alarms.
- Wind mitigation measures, such as reinforced roofing.
- Gated communities, with or without guards.
- New construction, if your home is less than six years old.
- Electronic policy, i.e., the ability to manage your account fully online.
We’ll proactively check your eligibility for all available discounts, but be sure to have your wind mitigation inspection ready! The biggest discounts come from these credits.
If you have any questions about getting insured in Pensacola, call us at 855-717-0022.
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