Average Rates of Homeowners Insurance in Altamonte Springs No law requires homeowners insurance in Altamonte Springs. However, if you have a mortgage, your lender will require you to get and maintain a policy for the life of the loan. If you don’t maintain your own coverage, your lender will force-place property insurance in Altamonte Springs on you. Force-placed coverage is more expensive and less protective than standard coverage. Avoid force-placed insurance by getting your own policy and making your payments on time.
Key Takeaways
- The average homeowners insurance cost in Altamonte Springs, Florida, is about $2,631 per year.
- Safepoint and Slide had the cheapest home insurance in Altamonte Springs, based on our agency’s data.
- You should always shop around and compare quotes before buying home insurance to be certain you’re getting the best deal.
How Much Is Homeowners Insurance in Altamonte Springs, Florida?
The average cost of homeowners insurance in Altamonte Springs is about $2,631 annually, which is just below the state average rate of $2,857. Altamonte Springs’ inland location likely helps keep rates relatively affordable.
Florida has some of the highest home insurance rates in the country, largely due to hurricane damage risk and high overall property values. However, residents generally feel the effects more in coastal cities, which are more expensive and prone to hurricane damage, while citizens in inland places, like Altamonte Springs, see more wallet-friendly insurance rates.
As an independent agency that partners with several of Florida’s top carriers, we can list real, average policyholder rates in Altamonte Springs to give you an idea of what you might pay for coverage.
|
Company |
Average Premium |
|---|---|
|
Safepoint |
$1,898 |
|
Slide Insurance Company |
$2,217 |
|
American Platinum |
$2,565 |
|
Swyfft |
$5,998 |
|
Average |
$2,793 |
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
Companies With the Cheapest Homeowners Insurance in Altamonte Springs
Safepoint and Slide had the cheapest home insurance in Altamonte Springs for our policyholders. However, home insurance rates can vary significantly depending on various factors, so be sure to shop around.
Our list contains a healthy, albeit short, sample of insurance companies in the area. Slide and American Platinum focus their business in Florida, while Safepoint writes policies in several coastal states. Swyftt isn’t actually a carrier but rather a managing general agency that can offer coverage in a few situations.
Our team at Clovered can help you bind with these companies and several more in Altamonte Springs. We work to pair you with the most affordable coverage and will happily answer questions and make shopping around easy.
Best Homeowners Insurance Companies in Altamonte Springs
Finding the best home insurance company in Altamonte Springs depends on your coverage needs, budget, and personal preferences. So, there’s no default choice for everyone, which is why we want to present options from our partners.
Average premiums are determined from our policyholder data. Financial strength is determined by each company’s ratings from Demotech, a leading insurance industry credit rating agency.
To gauge consumer satisfaction, we used the National Association of Insurance Commissioners’ complaint index, which compares a firm’s consumer complaint performance with other companies in the market. The default index number is 1.0, meaning a company with a complaint index of 2.0 has a complaint value twice as high as expected. So, for their scale, lower is better.
Safepoint
Demotech Rating
A
NAIC Complaint Index
3.91
Average Premium
$1,898
Safepoint Insurance has specialized in insuring property in coastal regions since 2013. They sell their policies through independent agents and offer homeowners insurance coverage in seven states.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$2,217
Slide Insurance Company was founded in 2021 and began operations offering home insurance in 2022. Available in Florida and South Carolina, the company currently has over 300,000 policyholders in the Sunshine State, making it one of Florida’s largest.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$2,565
American Platinum Insurance Company, founded in 2011, is a subsidiary of Universal Insurance Holdings, offering home insurance coverage in Florida and Georgia. Policies are available exclusively through independent agents at Clovered.
Swyfft
Demotech Rating
NR
NAIC Complaint Index
NR
Average Premium
$5,998
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
Altamonte Springs Homeowners Insurance Coverages
Regardless of where you get your insurance, the standard coverages in a home insurance plan tend to stay the same. The most common form of homeowners insurance is called the HO3 plan. Policies consist of the following protections for your property and financial liability:
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage in home insurance provides financial protection for the structure of your home and its components should they sustain damage from a covered peril. This can include things like the roof, walls, flooring, patio, plumbing, HVAC, and more. |
|
Other Structures Coverage |
Other structures coverage financially protects features on your property not attached to your main house should they suffer damage from a peril covered by your policy. This may include features like detached garages, fencing, pools, carports, and more. |
|
Personal Property Coverage |
Personal property coverage pays to replace or repair your belongings if a covered peril on your policy damages them. It may help you cover costs for things like furniture, electronics, clothing, tools, bicycles, and much more. |
|
Loss of Use Coverage |
Loss of use coverage can help you pay for temporary living expenses, such as lodging and groceries if your home becomes uninhabitable after sustaining major damage from a covered peril. |
|
Liability Coverage |
Liability coverage covers you financially if you’re found legally liable for someone’s injury or property damage. Your insurance company can cover medical bills, legal fees, and more. |
|
Medical Payments Coverage |
Medical payments coverage may be able to help you cover medical expenses for someone’s minor injuries, regardless of who was at fault. |
How to Get Homeowners Insurance Quotes in Altamonte Springs, Florida
It might be overwhelming to get home insurance quotes in Altamonte Springs with so much information to keep in mind. Clovered is there for you if you need any help along the way.
Our team at Clovered is based in South Florida, so we know how tricky it can be to find affordable coverage in the state. As an independent insurance agency, we partner with some of the top home insurance companies in Altamonte Springs to help you find the coverage you need at the price you want.
Use our online quoting platform to compare your options, or call our agents at 833-255-4117 during business hours. You can also email us at agent@clovered.com with any questions.
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
Altamonte Springs Home Insurance FAQs
Is homeowners insurance required in Altamonte Springs, Florida?
What is wind mitigation in Altamonte Springs?
Wind mitigation is reducing the effect that strong winds, like those from hurricanes and tropical storms, can have on your house. Homes with wind-resistant features, such as hurricane windows and reinforced roofs, are better equipped to withstand wind damage, and insurance providers often offer discounts to homeowners who have these features in place. Wind mitigation reduces rates substantially.
What factors affect Altamonte springs home insurance rates?
Several variables affect the cost of home insurance. Insurers analyze many aspects of policyholders and properties to get a good idea of the property’s risk level. Riskier homes have higher premiums. Home age, size, location, and construction materials impact rates. Furthermore, policyholder claims history, coverage amounts, and deductibles also play a role.
Do you need flood insurance in Altamonte Springs, Florida?
You’re only required to have flood insurance in Altamonte Springs if your mortgage lender says so, which will occur if your home is in a federally designated high-risk flood zone. Homeowners insurance doesn’t cover flood damage, and flooding can happen anywhere, so it’s not a bad idea to look into a flood insurance policy even if you’re not required.
Stay Above Water With Flood Insurance
Do you want to pay for costly and common flood damage yourself or have an insurance policy pick up the tab?
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.
