How much is home insurance in Fort Lauderdale?
On average, a homeowners insurance policy in Fort Lauderdale costs $17,112 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. Your premiums may vary based on the following factors:
Cost of home insurance by dwelling coverage in Florida
Along with Florida’s higher risk of storm damage, the median home price of properties in the Sunshine State is higher than the national median. With higher home values come higher rates for dwelling or structure coverage. As your coverage limit increases, so will your annual premiums.
Here, you can see how the dwelling coverage limit you choose affects your average annual premium in Florida.
Cost of homeowners insurance by deductible amount
The homeowners insurance deductible is how much you have to pay for property damage or losses before your insurance company will provide coverage. A higher deductible means you’ll have a higher out-of-pocket cost if you have to file a claim, but your premiums will be lower, as you’re taking on more of the up-front risk yourself.
In Fort Lauderdale, raising your deductible from $500 to $1,000 will reduce your premiums by about $100 per year, as you can see below.
Average cost of home insurance in other cities in Florida
Homeowners insurance rates are partially based on your ZIP code, risk class, and home value. For example, properties near one of Fort Lauderdale’s waterways will usually be pricier to insure than properties further inland.
Other cities in Florida that are further from the coast or have lower property values will have lower average premiums.
Here, you can see average premiums for different cities in Florida.
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