Homeowners Insurance: Sarasota, Florida
Here's your guide to finding affordable homeowners insurance in Sarasota.
Finding Homeowners Insurance in Sarasota, Florida
Sarasota is a great place to lay down roots in Florida. Most residents own their homes, and the school districts are highly rated. While the cost of living in Sarasota is about nine percent higher than the Florida average, the trade-off is a small-town feel with all a big city offers.
When comparing prices of homeowners insurance, Sarasota is less expensive than many other Florida cities – about $827 on average for Kin policyholders. While Sarasota is less prone to hurricanes than other southern and eastern beach cities, it still faces flood risk.
Let’s look at how to find affordable homeowners insurance for your Sarasota home.
Sarasota Home Insurance Costs
Sarasota home insurance costs less than the Florida average of $1,951 annually (from all carriers) and the Kin average of $1,091 a year.
Every home is different, which means every insurance policy is different, too. Any endorsements added to the policy will ultimately impact your costs. For example, flood insurance can be added to policies, as can animal liability coverage.
The costs below illustrate average homeowners insurance costs in Sarasota (part of Sarasota County) between Kin and other insurance companies. These costs are meant to be illustrative only and are based on a standard policy (no extras).
| Average Sarasota 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||$968||$2,479||$2,928||$2,739||$3,370|
|$150k, Pre-2001 Construction w/ Wind Mit||$668||$1,378||$1,330||$1,372||$2,078|
|$300k New Construction||$846||$2,602||$2,598||$2,445||$3,782|
Every home is built differently. Your Kin quote will consider the size, age, and construction materials used in making your home. For older homes, you can see that investing in wind mitigation features, such as a reinforced roof, can potentially save you hundreds of dollars every year.
Sarasota Home Insurance Basics
A basic home insurance policy still offers robust protection. When buying homeowners insurance in Sarasota, Florida, make sure yours includes:
- Replacement cost coverage: This is the total cost to rebuild your home from the foundation up after a covered loss.
- Personal property coverage: This helps you replace or repair your belongings after a covered incident.
- Loss of use coverage: When a covered claim forces you to temporarily relocate while your home is under repair, this can help you cover extra living expenses.
- Personal liability coverage: This helps pay for settlements when someone sues you for damage or bodily harm you caused.
- Medical payments: This is intended to cover small visitor injuries that happen on your property and help avoid lawsuits.
Your policy can easily be customized to meet your needs. Ask your Kin representative if additional coverages, like flood insurance, animal liability insurance, or scheduled property insurance makes sense for you.
Covering Specific Risks in Sarasota, Florida
Home insurance can cover losses from fire, wind, vandalism, and theft, which is a good thing considering Sarasota has one of the highest crime rates in the state. Here are some other special coverage situations to keep in mind as you shop for coverage.
Sarasota Hurricane Coverage
Sarasota is vulnerable to storms from the Gulf of Mexico because of its location on the central western shore of Florida. While October usually sees the most hurricane activity, hurricane season starts in June and ends in November. Sarasota and surrounding towns tend to avoid direct hits from storms like Hurricane Irma because the storms usually land south of the city and travel east.
Even though Sarasota has been lucky in recent years, it still feels the effects of the storm. Hurricane insurance pays for claims resulting from the high winds of the storm. That’s why wind mitigation measures help reduce your insurance rate.
Sarasota Flood Insurance
Many Sarasota homeowners may be required to have flood insurance by their mortgage lenders. The barrier islands, shoreline, and homes along the canal have the highest risk of flooding.
It doesn’t take much water for thousands of dollars of damage to be done. Even an inch of water can be disastrous for structures and personal property. Luckily, the Kin Insurance flood endorsement doesn’t have the same coverage restrictions and limits as NFIP policies.
Sinkhole Coverage in Sarasota
Aside from flooding and hurricane threats, Sarasota is home to a giant sinkhole called the Myakka Deep Hole, a popular but benign tourist attraction.
Even though the eastern part of the state tends to have more sinkholes, Sarasota has its fair share. Geologists claim the sinkholes in the state are the result of heavy limestone concentrations that collapse when soaked and eroded over time.
Sarasota residents who are concerned about sinkhole threats should be aware that Kin policies include catastrophic ground cover collapse coverage.
Tips for Lowering Sarasota Homeowners Insurance Costs
Keeping costs down is important for any homeowner. That’s why Kin offers discounts for homeowners who take steps to reduce their risk of losses.
Here are some ways you can save on Sarasota homeowners insurance:
- Protective devices: Install smoke alarms, security systems, and water mitigation devices to qualify for this credit.
- Wind mitigation measures: Reinforced roofs, wind-resistant doors and windows, and hurricane shutters can lower your rates substantially.
- Secure communities: If you reside in a gated community with or without guards, you can get an easy discount.
- New construction: We know you can’t control the age of your home, but if it’s under six years of age, your rates may be lower.
- Electronic policy: When you opt to manage your policy online, you get an easy discount.
Discounts add up. Certified wind mitigation features can reduce an annual insurance premium on a $150,000 Sarasota home policy by $300, according to our data. That’s one-third the policy premium.
Your Kin representative will review all discount opportunities and make sure you get reliable coverage at an affordable price. We’ll also review your policy each year to see if you’re eligible for any new discounts.
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