Home Insurance Florida - Brandon, FL
Finding quality reasonably priced homeowners insurance in Florida is not easy. In Brandon, homeowners understand the devastation of hurricane damage and desire adequate insurance that protects them and their property. So, we created this valuable guide for anyone looking to change or buy home new insurance in Brandon:
- The Best Carriers Offering Home Insurance in Brandon, FL
- Brandon, FL Home Insurance Costs
- Typical Claims in Brandon, FL
- What Home Insurance Coverage Can I Get in Brandon, Florida?
- Online Quotes for Homeowners Insurance in Brandon, FL
Many home insurance carriers in Brandon, FL, are fighting for your business. Home insurance companies calculate rates using numerous risk factors; therefore, we recommend checking several options to find the best one for you. During your selection process, consider these points:
- AM Best or Demotech Financial Stability Rating - thanks to the Citizen's buyout program after Hurricane Andrew, Demotech now rates most carriers in Florida.
- The Insurer's Experience in Brandon, FL - how long have they been insuring Brandon FL homes? Do they have insurance products that are unique to Brandon, FL?
- Online Reviews - what are locals saying about their claims processing experience and customer service?
Top home insurance carriers in Brandon, FL:
|Insurance Company||Financial Stability||Experience||Online Reviews|
|Progressive (ASI)||AM Best A+||Experienced||4 stars|
|Universal P&C||Demotech A||Experienced||3 stars|
|People's Trust||Demotech A||New||3 stars|
|Heritage||Demotech A||Experienced||4 stars|
|Swyfft||AM Best A-||New||3 stars|
|Olympus||Demotech A||New||3 stars|
|Lloyds||AM Best A||Experienced||4 stars|
|FedNat||Demotech A||Experienced||3 stars|
|Monarch||Demotech A||Experienced||3 stars|
|Florida Peninsula||Demotech A||Experienced||2 stars|
|Edison||Demotech A||Experienced||2 stars|
Reasonably priced home insurance in Florida is challenging to find. So, rather than being under-covered, we recommend this list of discounts for home insurance to reduce the cost of your insurance premium.
You should also submit a wind mitigation report, which can save you over 50% annually on your premiums. If your home is over 40 years old, your insurer might require a 4-point inspection report. Both reports should be included with your insurance application. And do not forget about the home and auto bundle discount.
Our automated tool searches for over 50 possible discounts. Young Alfred clients in Brandon FL typically pay $1,147 - $2,075 annually for home insurance. We also can find discounts for mobile home insurance and car insurance rates.
The average price of home insurance in Brandon, Fl, is $1,666.05. Your yearly price changes as the price to rebuild shifts. These price fluctuations mean if your home rises in value, your home insurance premiums will also increase. Coverage less than $1,147/year in Brandon is a reasonable price. But plan to pay an additional $616/year for each $100,000 growth in your property's value.
Home Insurance Rates in Brandon, FL vs. Home Rebuild Cost
Home insurance rates data generated from the following zip codes: 33508, 33509, 33510, 33511
Homeowners in the Sunshine State are aware that hurricane and winds are the most common perils. Heavy rains often lead to severe water damage. When shopping for homeowners insurance in Florida, be sure to have reliable wind and water coverage. Below are typical risks for Brandon, FL.
Brandon, FL Home Risk Report
Source: Home Risk Report
When there is a common peril in a region, like a flood, independent insurance carriers typically shift their pricing models to protect their profit models. Florida has a lot of hurricane claims; therefore, carriers impose high hurricane deductibles in Florida.
The impact on you is reduced coverage and increased premium prices. You must buy standard homeowner and property insurance and wind and flood insurance add-ons to fully protect your home and property. If you purchase the cheapest policy, do not sacrifice valuable coverage to save money. It costs more in the long run if you face a disaster.
There are six major types of coverage categories to understand.
- Coverage A: Dwelling - is coverage for your main home structure.
- Coverage B: Other Structures - covers all structures, e.g., sheds, on your premises not connected to your house.
- Coverage C: Personal Property - coverage for personal items and applies specific limits and or exclusions for defined categories like jewelry. To cover certain things, you will need an add-on. To cover standard items at a higher dollar amount, increase your coverage limit or purchase replacement value policies.
- Coverage D: Loss of Use - whether you repair or replace this helps to cover costs of extra living expenses elsewhere if you cannot live in your home.
- Coverage E: Personal Liability - this protects you if you are sued for an occurrence on your property. Personal liability insurance covers lawsuits and receives compensation for damages won by your guest.
- Coverage F: Medical Liability - if someone gets injured on your property, this provides medical payments coverage.
There are five (5) coverage details on home insurance policies in Brandon, FL:
- Limited Water Damage
One-third of homeowner claims are from water damage, which is a covered loss. There are numerous different types of water damage, and your regular insurance plan only covers some.
Flooding - your standard policy does not cover flooding. However, you can purchase a separate flood policy from the NFIP or Specialty Flood Insurers.
Burst Pipes - your standard home insurance policy typically covers water damage from pipe bursts. However, poor past maintenance that caused a slow leak over time is not covered.
Water Backup Coverage - requires an add-on to your primary homeowners policy.
Water Damage from Storms - is only covered by your regular home insurance policy when water penetrates your house from above ground-level.
Groundwater and Water Seepage - can be purchased, in some circumstances, as an add-on. Your standard home insurance policy does not cover it.
It is now common in Florida for insurers to limit water damage coverage to $10,000, and in some cases, exclude it outright. Water damage is expensive to fix. It often causes mold damage rather quickly, and $10,000 might not fully cover your costs. We recommend purchasing coverage that fully protects you in the event of a water damage event.
- Screened Enclosure Coverage - Lanai Coverage
Florida homeowners love lanais, screened in pool enclosures. They keep mosquitos, exotic birds, and alligators out, and still allow the sunshine to beam over your outdoor pool.
In Florida, lanai or pool enclosures are typically not included in your standard home insurance policies by default. You can, however, ordinarily purchase $10,000 - $50,000 of coverage for your lanai as an add-on that adds to your premium. Please take note; lanai add-ons do NOT cover the wire mesh portion of your screen. It only covers the lanai's structure.
- Hurricane Deductible
Hurricane deductibles only apply to category one storms or higher, and only when the hurricane arrives on land. Hurricanes are assigned categories by the NOAA, who uses the Saffir-Simpson Hurricane Scale.
A Florida home insurance policy has two deductible types:
Percentage-Based Deductibles (2%, 3%, 5%, and 10%)
Percent-based deductibles are percentages of your coverage A policy.
$100,000 of coverage
You pay the first $10,000 ($100,000 * 10%) on damage repair before your insurer pays their portion. In Florida, percent deductibles apply to named perils, like Hurricane Deductibles or Hail and Wind Damage Deductibles.
Dollar-Based Deductibles ($500, $1,000, $2,500, $5,000, $10,000)You owe a fixed sum of money towards each claim that your insurer pays. The most common deductible is $1,000.
$100,000 of dwelling coverage
In this case, you owe the first $10,000 on damages before your insurer sends you a check for the repairs or pays for the repairs themselves.
- Roof Coverage: Actual Cash Value vs. Replacement Cost
You should replace your roof every 20 years. Coverage for roofs older than 20 years are calculated at Actual Cash Value (ACV). You will not get full Replacement Cost reimbursement.
For example, you have hail storm damages to your 19-year-old roof, and the roof is now totaled - you need a brand-new roof. Your insurance company in Florida will not pay for a new roof because they will apply ACV to your old damaged roof. Their logic is that your roof would need replacing in the next few years, even if there had not been a storm.
Your carrier will pay you an amount that they believe signifies the remaining days of your roof, and they will default to the ACV formula to determine your coverage. If your roof is 19 years old, costs $30,000 to replace, has a 30-year life, and your deductible is $5,000, your ACV check will be for:
(30-19)/30*30,000 - $5,000 = $6,000. (Actual Cash Value Coverage)
At Replacement Cost, your roof replacement check will be for:
$30,000 - $5,000 = $25,000. (Replacement Cost Coverage)
In this example, the Replacement Cost Value Coverage on your roof netted you $19,000 more than ACV would have.
- Animal Liability
Florida has many exotic animals and dogs, and some can be dangerous. With a horrible owner, some dogs can be dangerous. However, because insurers cannot adjust prices based on a dog owner's quality, they use breeds as rating factors to establish pricing.
If you are a dog owner, you should know average claims for dog bites are ~$45,000, and most policies exclude pet coverage. We recommend you check your contract to be sure you have pet liability coverage.
Homeowners insurance online quotes require many inputs. Insurance companies use hundreds of various determinants to provide a personalized price. Most will fit into three categories:
- Property Features (age, location, HVAC, etc.)
- Personal (historical credit reports, pets, claims history, etc.)
- Endorsements and Coverage limits (caps, water damage risks, replacement, or actual cost, etc.)
To get a personalized online quote: fill in our online homeowners insurance quote engine. Young Alfred does not sell your personal information or call you. Our personalized quoting engine generates top homeowners insurance quotes unique to your area, so you will never get pestered by an insurance agency or agent.
Get Home Insurance Quotes in Brandon FL
Hope that helps!
At your service,