Port St. Lucie, incorporated in 1961, is an attractive and growing city – and for good reason. More than 231,000 residents get to enjoy a high standard of living while exploring Port St. Lucie’s plentiful parks and waterways alongside heritage trails and cultural attractions.
Owning a home in Port St. Lucie certainly sounds idyllic, but that doesn't mean you can forgo homeowners insurance. Unfortunately, the situation in Florida has made protecting your investment expensive for homeowners. Some insurers have even decided not to offer coverage in the state.
We’re committed to staying in Florida to help homeowners insure their properties. In this article, we explore what it costs to insure a Port St. Lucie home and how we work to keep costs down.
How much does home insurance cost in Port St. Lucie?
Most Floridians know that home insurance is pricey, but they might not know that the average premium is $2,165 per year. That makes the Sunshine State the most expensive for home insurance costs.
The reason for this? There are several, but the main ones are:
-
Reinsurance costs. Reinsurance is essential for Florida insurers, but as the cost increases for them, so do policyholders’ premiums.
-
Litigation costs. Florida leads the nation in homeowners insurance-related litigation costs, which makes everyone’s rates go up.
-
Fraud. Recent legislation is aimed at lowering the frequency of fraud, particularly assignment of benefit scams.
-
Increasing climate-related risks. Hurricanes, in particular, are becoming more frequent and more devastating, making it more difficult for insurance companies to cover large numbers of catastrophic claims.
There’s a pretty good chance that your homeowners insurance premium in St. Lucie is at or above the statewide average. Again, several factors go into this high cost, but the biggest ones are weather risks and property values.
Factors affecting Port St. Lucie home insurance costs
|
Positive cost factors
|
Negative cost factors
|
|
Low crime rate
|
High property values
|
|
Proximity to coast/increased hurricane risk
|
|
Extreme wind risk
|
|
Moderate to high flood risk
|
|
Moderate wildfire risk
|
Port St. Lucie has been hit by hurricanes three times in recent memory. But as a Florida homeowner, you know that tropical storms and other severe weather events can do plenty of damage to your property. Worse? Climate change is increasing your risk, which means rates are likely to continue to rise.
How to save money with Kin
Our technology allows us to more precisely evaluate the risk every home faces. We weigh tons of insurance data to get a clear picture of your home.
For example, our team looks at:
By considering these and other details, we can usually provide an accurate quote. In many cases, that ends up saving our members money. Homeowners who join Kin report saving an average of $900.*
We also offer members several discounts and premium credits for:
Finally, members sometimes choose a higher deductible in order to keep their premiums down. Homeowners insurance policies from Kin have the following option:
Other coverage for Port St. Lucie
Port St. Lucie, FL, receives an average of over 50 inches of rain annually, leaving it susceptible to flash floods. Moreover, many neighborhoods in Port St. Lucie are considered flood zones by the Federal Emergency Management Agency (FEMA).
Your mortgage company will require you to purchase flood insurance if you live in a high-risk flood zone in Port St. Lucie. Flood zones are designated by the Federal Emergency Management Agency (FEMA) to assess the flood risk of specific areas throughout the country. Flood zone designations are based on a 100-year floodplain that predicts the likelihood of an area sustaining at least one flood every 100 years.
You can go to FEMA’s Flood Map Service Center to see the flood zone designation for your neighborhood.
Even if your home is in a moderate-to-low-risk flood zone, buying flood insurance is a good idea just about everywhere in Florida.
Flood insurance from Kin is available as an endorsement, not as part of your standard home insurance policy. If you’re eligible for coverage, you can add flood insurance simply by selecting the endorsement in our online application or asking your representative for help.
Frequently asked questions about home insurance
Asking questions is key to getting the appropriate homeowners policy for your situation. Check out these articles that answer some of the most common questions about home insurance.
How to get home insurance in Port St. Lucie?
We make it easy for homeowners throughout Florida to get home insurance. All you have to do is enter your address and our system will guide you through the application. You can also call 855-717-0022 if you'd like to speak to a representative.
