Average Annual Rate of Homeowners Insurance in Cocoa Beach No law requires homeowners insurance in Cocoa Beach. However, you can still be required to get and maintain a home insurance policy by your mortgage lender. If your house is tragically destroyed, you and your lender would have no way to recover your financial investment in the property without an insurance policy. Your insurer will reimburse you and your lender during such a claim.
Key Takeaways
- The average homeowners insurance cost in Cocoa Beach, Florida, is about $2,275 per year, which is below the statewide average home insurance rate.
- Slide, Cypress, and Florida Peninsula had the cheapest homeowners insurance in Cocoa Beach, based on our agency data.
- Rates vary due to many factors, and you should always shop around among multiple providers to find the best deal on a policy.
How Much Is Homeowners Insurance in Cocoa Beach, Florida?
The average cost of homeowners insurance in Cocoa Beach is about $2,275 annually, which is 20% below the average Florida home insurance cost of $2,857 yearly.
Florida is one of the most expensive states for home insurance due to statewide hurricane risk and rising property values, among other factors. Rates in Brevard County are generally higher than the state average, largely due to the area’s proximity to the Atlantic Coast, increasing the possibility of hurricane damage.
However, Cocoa Beach, at the top of Brevard County, is north of Florida’s most hurricane-prone areas, which likely helps lower premiums. As an independent agency, we can present real, average premiums from our policyholders in and around Cocoa Beach to help you know what to expect when seeking a policy in the city.
|
City |
Average Premium |
|---|---|
|
Slide Insurance Company |
$1,191 |
|
Cypress |
$1,226 |
|
Florida Peninsula |
$2,021 |
|
American Integrity |
$2,084 |
|
Southern Oak |
$2,105 |
|
Citizens |
$2,192 |
|
American Platinum |
$2,282 |
|
Swyfft |
$3,332 |
|
Average |
$2,275 |
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.
The Cheapest Homeowners Insurance in Cocoa Beach, Florida
Slide and Cypress had the cheapest home insurance in Cocoa Beach for our policyholders. However, this can vary based on details about each policyholder. It’s hard to know which carrier is the most affordable overall until you get quotes.
Slide and Cypress are two newer Florida-based insurers founded in the wake of state legislative reforms that began around 2022. The Florida insurance marketplace was in dire straits beforehand, but has since improved with new companies writing policies and rates coming down slightly from previous all-time highs before the changes.
Our agency team at Clovered can pair you with a policy from any of the companies listed above, and more that we partner with that aren’t listed. If we can’t find you a policy in the standard market, we can pair you with Citizens, Florida’s state-run insurer of last resort, with artificially subsidized premiums for residents who have trouble getting insurance due to property risk.
The Best Homeowners Insurance Companies in Cocoa Beach, Florida
Deciding on the best insurance looks different for each person depending on coverage needs, budget, and personal preference. As an independent agency, we want to give you as much information on our partners as possible to help make an informed decision together.
Below, 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.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$1,191
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.
Cypress Insurance Group
Demotech Rating
A
NAIC Complaint Index
0.77
Average Premium
$1,226
Established in 1998, Cypress Property & Casualty, headed by the Cypress Insurance Group, offers several types of property insurance in Florida and Texas. The company has over 70,000 policyholders in the Sunshine State.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$2,021
Florida Peninsula Insurance Company was founded in 2005 and focuses on offering coverage in its namesake state. With over 150,000 policies in force in Florida, it just cracks the top ten list of Florida’s largest home insurers.
American Integrity Insurance
Demotech Rating
A
NAIC Complaint Index
1.48
Average Premium
$2,084
Established in 2006, American Integrity Insurance has become one of the five largest home insurers in Florida with over 300,000 policyholders in the state. Since its founding, the company has expanded its coverage to Georgia and South Carolina and gone public, trading on the New York Stock Exchange.
Southern Oak Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.20
Average Premium
$2,105
Southern Oak Insurance Company is a private home insurer that has been providing coverage to state residents since 2004. Its policies are primarily available only in Florida through a statewide network of independent agents, such as Clovered.
Citizens
Demotech Rating
NR
NAIC Complaint Index
0.69
Average Premium
$2,192
Citizens Property Insurance Corporation is Florida’s state-run home insurer of last resort. It’s a non-profit entity that provides property insurance to state residents who are unable to obtain coverage in the traditional, private market.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$2,282
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
$3,332
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.
Cocoa Beach Homeowners Insurance Coverages
The most common type of homeowners insurance policy is officially called the HO3 form. All HO3 policies contain the same six coverage areas, regardless of which company provides the plan.
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage financially protects your home’s structure and permanent fixtures, including the roof, walls, countertops, flooring, patios, pipes, and more. |
|
Other Structures Coverage |
Other structures coverage accounts for features on your property that aren’t attached to the main house, such as pools, fences, sheds, and detached garages. |
|
Personal Property Coverage |
Personal property coverage guards your belongings, including furniture, clothing, electronics, tools, and jewelry, from damage and theft. |
|
Loss of Use Coverage |
Loss of use coverage helps cover living expenses you’d incur if major property damage renders your home uninhabitable, forcing you to move out temporarily. Your insurer can cover lodging, groceries, and more. |
|
Liability Coverage |
Liability coverage covers your finances if someone sues you for injuries or property damage you may have caused. Your carrier can pay medical bills, legal fees, and more. |
|
Medical Payments Coverage |
Medical payments coverage allots funds for minor medical expenses if someone suffers an injury around your property, regardless of fault. |
How To Get Home Insurance Quotes in Cocoa Beach, Florida
If you need help with any step in the process of getting homeowners insurance quotes in Cocoa Beach, turn to Clovered for help. We specialize in Florida properties, and our headquarters is in South Florida.
When you call us for a quote, you’ll be speaking to a licensed agent and fellow state resident who is very familiar with insurance needs in Florida. Contact us at 833-255-4117 during business hours or email us at agent@clovered.com.
You can also use our proprietary quoting platform to compare homeowners insurance quotes in Cocoa Beach entirely online. It only takes a few minutes to input information about you and your property to see quotes from our partners in your area.
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.
Cocoa Beach Home Insurance FAQs
Is homeowners insurance required in Cocoa Beach, Florida?
What is wind mitigation in Cocoa Beach, Florida?
Wind mitigation is the installation or construction of components, such as hurricane windows and roof straps, that help your house withstand damaging strong winds. Wind mitigation features can reduce home insurance rates substantially. You can get a wind mitigation inspection to see if you qualify for related discounts from insurance companies.
What factors affect Cocoa Beach home insurance rates?
Several factors affect the average cost of home insurance. Carriers assess personal or property considerations influencing your likelihood of filing a home insurance claim, such as your home’s age, location, and construction materials. In addition to property considerations, personal claims history and policy details such as deductibles and coverage amounts will impact insurance costs, too.
Do you need flood insurance in Cocoa Beach, Florida?
You only need flood insurance in Cocoa Beach if mandated by your mortgage lender, which will occur if your property is in a high-risk flood zone as determined by the Federal Emergency Management Agency (FEMA). FEMA creates and maintains the nation’s flood risk maps, and lenders will require borrowers with houses in high-risk FEMA flood zones to carry flood insurance in addition to homeowners insurance.
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.
