For many people. the beaches and easy living in Fort Lauderdale, FL make for a dream home. The allure of the good life in South Florida has attracted more than 5.5 million people to Broward and Miami-Dade counties, with more coming all the time. It’s a great place to live , with houses both old and new providing great opportunities for many. Owning a home means insuring a home, however, and finding the right Fort Lauderdale insurance for you is not easy. An Independent Insurance Agent who knows the area and the insurance companies that offer the best policies is critical. Once they understand your primary or vacation home coverage needs, your agent will get you quotes from many different carriers to find the best price on insurance that fits your lifestyle.
Cost of Homeowners Insurance in Florida
Florida is a bit more expensive than the national average for homeowners insurance.
- Nationally, premiums average $1,034 per year.
- In Florida, the average is $1,103 per year.
- The Sunshine State ranks 14th overall in homeowners insurance premiums.
Fort Lauderdale home insurance is a bit higher than the national average for one main reason: hurricanes. While they don't happen so often, when one hits, the damage is widespread. It is critical to have the right insurance at an affordable price so that you are prepared when a storm hits.
Second Home and Vacation Home Insurance
If your Fort Lauderdale home is a second home, you still need to insure it as though it were your primary residence. You may opt not to cover the contents as heavily, however. It can be more expensive to cover a second home because of the potential for theft when you are not around to protect it. Many people don’t have the same insurance on their vacation home and take on the risk themselves, keeping their insurance cost lower. A conversation with an independent insurance agent will help you understand what you are taking on so that you have the best insurance for your situation.
Number of Thefts in Florida
Your homeowners insurance policy also covers loss from thefts, such as break-ins. Overall, Florida has a surprisingly low burglary rate compared to the national average:
- Across the US, the annual state average is 37,814 thefts.
- In Florida, the number is only 3,316 per year.
Protection against theft is still important, and it’s one of the most important parts of Fort Lauderdale home insurance. There are many things you can do to minimize the cost of this coverage, however, such as installing a home security system. In addition, the cost of insurance against theft is usually more affordable in a multifamily dwelling because there are more people around to keep an eye on things.
Number of Catastrophes in Florida
The weather is what brings people to Florida, but the weather is the main source of catastrophes across the state. Fort Lauderdale is no different.
- In recent years, there were 594 recorded catastrophes in Florida, primarily due to storms.
- There were also 23 reported tornadoes, something not often associated with Florida.
- Also in recent years, over $210 million in property damage from catastrophes was reported.
- About 1 in 15 insured homes have a claim every year.
You never know when a storm is about to hit until it is too late. The right insurance makes all the difference in protecting yourself from the effects of storms. Recovering from a catastrophe is about more than just fixing the damage, however. It’s also about getting the repairs done quickly – which can be difficult when there is widespread damage. The best insurance for you is about more than simply an affordable price, it’s also about good coverage and quick settlement so that your life can return more quickly to normal.
What Are the Risks in Fort Lauderdale?
Like any other city, Fort Lauderdale and all of Broward County have unique considerations for homeowners insurance. Many houses here come with backyard pools, which are “attractive nuisances” that have to be protected in case someone is injured in one and files a suit. Some areas of the city have higher crime than others, and it may be important to have protection against theft.
Overall, it mainly comes down to protecting yourself against tropical storms and afternoon thunderstorms, which are very common in summer. The flash floods that may result need to be covered by a separate flood and water damage policy, as they are rarely included in your base Fort Lauderdale homeowners insurance.
The most important thing to do is to review your needs with an independent insurance agent. They will take the time to get to know your property and lifestyle to find the best homeowners insurance for your budget. Because these agents live in Fort Lauderdale, they know the conditions and reliable insurance carriers. This means they can help you find the policy that is right for you.