Homeowners Insurance in West Palm Beach
West Palm Beach is a beautiful, prestigious place to live or have a vacation home in Florida. Home to 36 neighborhoods, its allure combined with its pristine beaches, makes it a prime target for hurricanes and some of the highest homeowners insurance premiums in the United States. Here's what you should know when shopping for homeowners insurance in the West Palm Beach area.
Natural Disasters in West Palm Beach
Although there have been 14 deadly hurricanes within 50 miles of West Palm Beach over many years, including three recent major hurricanes (Matthew, Irma, and Dorian), all have missed West Palm Beach. Yet, even storms 20 and 30 miles away can have devastating effects. Carefree Theatre, an art-house cinema in the historic Flamingo Park district, was severely damaged by Hurricane Wilma.
During Hurricane Dorian, Palm Beach County ordered mandatory evacuations for Zone A and B. Even with West Palm Beach's lucky streak, the impacts are felt by many.
Hurricane season starts June 1 and ends November 30. One in every 15 Florida homes files a claim from a catastrophe every year.
FEMA flood zones undoubtedly impact homeowners insurance in West Palm Beach. Know your flood zone -- you'll know when and where to evacuate and how it influences your home insurance premiums. As with real estate values, the location of your home matters most in home insurance.
Enter your home address on this FEMA map or the Palm Beach County Flood Zone Determination System to find your flood zone. You can also call the West Palm City government office at (561) 805-6705 for help determining:
- in which flood zone you live
- if its at risk for coastal erosion
- if your property has flooded in the past
- if you live in a protected natural floodplain area
How Much is West Palm Beach Home Insurance?
The average cost ranges from $1,760 - $7,098 per year. For expensive homes with high replacement value coverage, premiums can be up to $26,000 per year. Here is a useful chart to check insurance premiums.
You may qualify for special rates. West Palm Beach participates in the Community Rating System, which means you get a discount. Also, electronic security devices, bundling your home and auto insurance, and other factors can lower your premiums.
Home insurance rates data generated from the following zip codes: 33401 33402 33403 33404 33405 33406 33407 33408 33409 33410 33411 33412 33413 33414 33415 33416 33417 33418 33419 33420 33421 33422
What's Unique About West Palm Beach Homeowners Insurance
Standard homeowners insurance policies don't cover flood damage, so you'll need to buy flood policy separately. Parts of West Palm Beach near the coast are in FEMA high-risk flood areas, which are subject to mandatory National Flood Insurance Program (NFIP) flood insurance.
Make sure you protect your home all year round, and especially during hurricane season. There is a mandatory 30-day waiting period before your wind and flood insurance kicks in, and it must be in place before the hurricane season starts. Be sure to sign your policy and make a payment before the hurricane season in Florida: June 1 to November 30.
What Influences Insurance Plan Premiums
To determine your premiums, insurance companies consider the value, size, and location of your West Palm Beach property. Swimming pools, diving boards, trampolines, certain dog breeds, solar panels, roof shape and age, age of your home, prior claims, and other factors increase risks and therefore increase premiums.
Security systems, good credit, and other signals of a responsible homeowner will help lower your rates.
Impact-resistant roofing, windows, doors, and a wind mitigation form may score you significant discounts on your home insurance premium. When remodeling, always get a permit with the city to ensure your contractor is following proper regulations. Keep your storm drains and gutters free from blockage.
Having independent insurance for personal property like jewelry and furs is an essential consideration for your high-value property. You will need separate wind insurance and flood insurance that can be add-ons to your homeowners insurance policy or independent policies.
Also, be sure to ask about purchasing sinkhole coverage, most standard policies exclude it.
Most standard homeowners insurances in Florida cover Additional Living Expenses (ALE) during the time you evacuate from your property. So, it is an item you want to scrutinize while you are gathering home insurance quotes. Evacuations are often mandatory, and you'll want an extended stay to be hassle-free.
Buying home insurance in West Palm Beach, FL doesn't have to be challenging. We can make it easy. We won't spam you with calls from 20 insurance agents. You can quickly get online quotes from many home insurance companies -- we'll scan for all possible discounts and show you the fine print so you can compare the quotes.
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