Average Rates for Homeowners Insurance in Palm Beach County While you may not legally need renters insurance in West Palm Beach, binding a policy can help provide you peace of mind. Some landlords may require tenants to maintain a Florida renters insurance policy, in which case you’ll need one to maintain your lease. Otherwise, it’s just a financially responsible decision to ensure your property is protected from unforeseen damage.
Key Takeaways
- The average home insurance cost in West Palm Beach, Florida, is about $3,475 annually, about 18% above Florida’s average rate.
- Homeowners searching for West Palm Beach insurance may find that companies like People’s Trust, Florida Peninsula, Citizens, or American Platinum have the cheapest policies.
- The average cost of homeowners insurance Palm Beach County, Florida, is about $3,577 annually, or about 30% above Florida’s average.
- As one of the top independent West Palm Beach insurance agencies, we at Clovered can help you find a policy that meets your needs.
How Much Is Homeowners Insurance in West Palm Beach, Florida?
The average homeowners insurance cost in West Palm Beach, Florida, is about $3,475 annually. The average rate in this Florida city is about 18% higher than the state average of about $2,857 annually.
The average cost of home insurance in Florida is well above the national average. In fact, it’s one of the most expensive places in the country. The brunt of that hiked premium price is due to hurricane activity in the area. Unfortunately for those in West Palm Beach and throughout Palm Beach County, this particular part of South Florida tends to get hit by hurricanes and their residual effects quite often.
As one of the leading independent insurance agencies in West Palm Beach and throughout South Florida, we have hundreds of customers throughout Palm Beach County. So, we’ve taken a look at their data, compiled it, run the numbers, and calculated some average rates from the insurers they trust with these policies.
Take a look at the average cost of home insurance in West Palm Beach for our customers, based on company data.
| Company | Average Premium |
|---|---|
|
People’s Trust |
$1,380 |
|
Florida Peninsula |
$2,305 |
|
Citizens |
$2,769 |
|
American Platinum |
$3,414 |
|
Swyfft |
$3,544 |
|
Edison |
$3,740 |
|
Olympus |
$4,179 |
|
Southern Oak |
$4,227 |
|
Slide Insurance Company |
$4,275 |
|
TypTap |
$5,995 |
|
Monarch National |
$6,421 |
|
Average |
$3,475 |
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.
Finding the Cheapest Home Insurance Companies in West Palm Beach, Florida
While homeowners insurance prices are definitely high in this county, some insurers work hard to ensure your premiums stay as low as possible. For our customers, the cheapest homeowners insurance in West Palm Beach, Florida, is offered by insurers such as People’s Trust, Florida Peninsula, Citizens, and American Platinum. Each of these insurers offers average rates below the city’s average.
The cost of home insurance is rising in South Florida in part because of recent hurricanes Matthew, Irma, and Dorian wreaking havoc on homes in the area. Homeowners in West Palm Beach, Royal Palm Beach, and Palm Beach Gardens seemingly took the brunt of claims in the county.
But there’s more than just the company choice that goes into your average cost of premiums. Several factors, like deductible, insurance score, your home’s age and construction type, your claims history, the coverage amounts on your home, and even your home’s location, all factor into your final costs.
Finding the Best Home Insurance in West Palm Beach, Florida
Sadly, there isn’t a one-size-fits-all insurer that offers the best West Palm Beach home insurance for every policyholder. Instead, you can find the provider that best meets your needs by compiling and comparing quotes from several insurers. This way, you can see the best policies, deals, and discounts all in one place.
You can best determine what you need from a policy by considering two main factors: cost and coverage. Some policyholders carry the bare minimum of coverage to keep their costs down, while others may splurge on coverage, even though that can get a bit pricey.
We always recommend finding a good balance between cost and coverage. Once you’ve determined what that looks like for your individual needs, you’re ready to search for an insurer to meet those needs.
Here at Clovered, we provide hundreds of Palm Beach residents with the best policies for their needs. Here we’ve compiled some background information on the insurers our West Palm Beach customers trust with their policies, so you can make the most informed decision about yours.
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.
People’s Trust
Demotech Rating
A
NAIC Complaint Index
1.44
Average Premium
$1,380
People’s Trust Insurance Company was established in 2008 and offers home insurance exclusively in Florida. The company prides itself on its business model, which differs from most carriers in that it retains a network of preferred contractors for claims.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$2,305
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.
Citizens
Demotech Rating
NR
NAIC Complaint Index
0.69
Average Premium
$2,769
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
$3,414
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
$3,544
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$3,740
Established in 2006, Edison Insurance Company offers home insurance primarily in Florida through independent agents, like our team at Clovered. It was acquired by Florida Peninsula Insurance Company in 2010, although it still has its own book of business.
Olympus
Demotech Rating
NR
NAIC Complaint Index
0.90
Average Premium
$4,179
Olympus Insurance Company has offered home insurance solely in Florida since its founding in 2007, with a general focus on higher-value homes and a count of over 70,000 policyholders.
Southern Oak Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.20
Average Premium
$4,227
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.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$4,275
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.
TypTap
Demotech Rating
A
NAIC Complaint Index
1.48
Average Premium
$5,995
TypTap Insurance Company was founded in 2006 and offers home insurance in over a dozen states. It’s primarily distributed through independent agents, like ours at Clovered.
Monarch National
Demotech Rating
A
NAIC Complaint Index
0.60
Average Premium
$6,421
Monarch National has been serving Floridians with a variety of home insurance options since 2015. It was once a subsidiary of the now-defunct Fednat Insurance Company and assumed many of its policies upon Fednat’s liquidation in 2022.
Home Insurance Coverages in West Palm Beach, Florida
If you purchase a policy through Clovered, which is the best way to shop for insurance policies and compare quotes online, your homeowners insurance in West Palm Beach includes the following coverages:
| Coverage | Definition |
|---|---|
|
Coverage A |
Dwelling coverage, or Coverage A, covers your house’s structure. This may cover your foundation, roof, flooring, and possibly even your HVAC system. |
|
Coverage B |
Other structures coverage, or Coverage B, protects things on your property that aren’t attached to your main home. Your garage, pool, or fence may be protected by this coverage. |
|
Coverage C |
Personal property coverage, or Coverage C, protects your personal belongings. This may cover items like furniture, appliances, and clothing, among many other things. |
|
Coverage D |
Loss of use coverage, or Coverage D, helps you in the event your home becomes uninhabitable due to a covered peril. This coverage may cover expenses like temporary housing or other necessities. |
|
Coverage E |
Personal liability coverage, or Coverage E, protects your liability should a guest injure themself on your property. This coverage may help you with medical expenses or legal fees. |
|
Coverage F |
Medical payments coverage, or Coverage F, can help you cover the medical expenses a guest may incur from a minor injury that occurs on your property. |
How To Get West Palm Beach Home Insurance Quotes
Clovered can help you save money on home insurance in West Palm and throughout Palm Beach County. Our easy-to-use online quote engine can pair you with a policy in a few minutes, and you can compare home insurance quotes in West Palm Beach, Florida, from some of the top providers in the state.
You can also get in touch with one of our licensed agents by phone, Monday through Friday from 8:30 a.m. to 6 p.m., at 833-255-4117, or by email anytime at agent@clovered.com.
How Much Is Home Insurance in Palm Beach County, Florida?
On average, homeowners insurance in Palm Beach County costs about $3,577 annually. The average rate in the county is about 20% higher than the average home insurance cost in Florida, which is about $2,857 annually.
Homeowners insurance in Palm Beach County, which makes up one leg of South Florida’s tri-county area, is quite expensive. In fact, it’s one of the most expensive places in the country for homeowners insurance.
While hurricanes are covered by homeowners insurance, each hurricane claim in the county raises premium prices for the rest of its citizens. Let’s break down what you can expect to pay for home insurance in Palm Beach County, depending on the city, town, or municipality.
|
City |
Average Premium |
City |
Average Premium |
|---|---|---|---|
|
Lake Park |
$2,230 |
Highland Beach |
$4,255 |
|
North Palm Beach |
$2,236 |
Gulf Stream |
$4,260 |
|
Riviera Beach |
$2,724 |
Briny Breezes |
$4,266 |
|
Palm Beach Shores |
$2,730 |
Westlake |
$4,355 |
|
Palm Beach Gardens |
$2,872 |
Boca Raton |
$4,402 |
|
West Palm Beach |
$3,475 |
Loxahatchee Groves |
$4,877 |
|
Greenacres |
$3,252 |
Palm Springs |
$5,220 |
|
Hypoluxo |
$3,725 |
Lake Worth Beach |
$5,228 |
|
Manalapan |
$3,725 |
Atlantis |
$5,230 |
|
Boynton Beach |
$3,729 |
Lantana |
$5,230 |
|
Ocean Ridge |
$3,730 |
South Palm Beach |
$5,235 |
|
Juno Beach |
$3,995 |
Belle Glade |
$5,460 |
|
Tequesta |
$3,995 |
South Bay |
$5,465 |
|
Jupiter |
$3,998 |
Wellington |
$5,466 |
|
Haverhill |
$4,025 |
Palm Beach |
$5,978 |
|
Average |
$3,577 |
Home Insurance Is Just a Click Away
We partner with the nation’s top home insurance companies so you can get a great policy at an affordable price.
As you can see from the table, rates vary widely even within Palm Beach County. In fact, all policyholders are subject to different rates, as insurers use unique facts about you, your home, and your policy to determine your rates.
Average Cost of Homeowners Insurance in Palm Beach Gardens, Florida
The average cost of home insurance in Palm Beach Gardens, Florida, is about $2,872 annually. The average rate in this Florida city is just shy of the state’s average, which rests at about $2,857 annually.
As a leading independent insurance agency in South Florida, we have hundreds of customers across Palm Beach County. Check out which insurers our Palm Beach Gardens customers trust with their policies.
|
Company |
Average Premium |
|---|---|
|
Heritage |
$2,497 |
|
American Platinum |
$2,761 |
|
American Integrity |
$2,824 |
|
Citizens |
$3,427 |
|
Slide Insurance Company |
$3,924 |
|
Olympus |
$5,243 |
|
Swyfft |
$7,280 |
|
Edison |
$10,082 |
Average Cost of Home Insurance in Royal Palm Beach, Florida
On average, home insurance in Royal Palm Beach, Florida, costs about $4,075 annually. The average rate in this Florida city is about 30% higher than the state’s average rate of about $2,857 annually.
Although home insurance rates in this city are above average, our customers can still find affordable coverage with some of the state’s top providers. Let’s take a look at the average cost of home insurance in Royal Palm Beach by company.
|
Company |
Average Premium |
|---|---|
|
Safepoint |
$3,500 |
|
American Platinum |
$3,955 |
|
Monarch National |
$4,784 |
|
Swyfft |
$5,096 |
|
Florida Peninsula |
$5,204 |
|
Average |
$4,075 |
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.
Palm Beach County Home Insurance FAQs
Do I need renters insurance in West Palm Beach?
Should I have condo insurance in Palm Beach County?
Yes, you should have condo insurance in Palm Beach County. Though condo insurance may not be required if you own your condo outright, it’s still an economically smart decision to maintain a policy. With a Florida condo insurance policy, your home and proeprty are covered in the event of sudden or accidental damage, like a fire or robbery.
What affects the average cost of West Palm Beach home insurance rates?
We mentioned the threat of hurricanes affects the cost of home insurance, but numerous other factors may affect rates in West Palm Beach. Premiums vary on an individual basis, as the age and size of your home and the amount of coverage you enroll in can affect your cost. Also, your location, your claims history, and the deductible you choose plays a role. We mentioned the threat of hurricanes affects the cost of home insurance, but numerous other factors may affect rates in West Palm Beach. Premiums vary on an individual basis, as the age and size of your home and the amount of coverage you enroll in can affect your cost. Also, your location, your claims history, and the deductible you choose plays a role.
Should I get flood insurance in Palm Beach County, Florida?
All Palm Beach County residents reside in a flood zone and are encouraged to obtain flood insurance. While homeowners insurance doesn’t cover damage to your home or property caused by flooding,
flood insurance picks up the slack. It isn’t required by law, but many city and county websites in Florida recommend it to their residents.
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.
