How much is homeowners insurance in Melbourne, Florida?

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

The average cost of homeowners insurance in Melbourne is $5,317 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $2,813 more than the national average of $2,504 .

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Melbourne depend on a number of factors, including:

The size of your home
The age of your home
The amount of coverage you need
Where you live
Your credit score

To ensure you secure the best homeowners insurance policy, compare quotes from multiple insurers. This will enable you to find the coverage that aligns with your specific requirements.

Read this guide to learn how much homeowners insurance costs monthly in Melbourne, what home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Melbourne.

Key Takeaways

In Melbourne, homeowners insurance costs $5,317 annually.
Travelers offers the most affordable homeowners insurance in Melbourne with an average annual premium of $1,466 .
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $907 higher.

How much is homeowners insurance in Melbourne per month?

Residents of Melbourne pay an average of $443 a month for homeowners insurance. It’s $62 more than the state average of $381 and $234 more than the national average for home insurance across the nation.

The cost of your homeowners insurance policy in Melbourne may change based on location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Melbourne?

The average cost of homeowners insurance in Melbourne, FL is $4,410 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The cost of your home insurance each year depends on several factors – including the risk of natural disasters in your area. If your city is prone to events like hurricanes, wildfires, or floods, you’ll likely pay more for coverage.

Some places are more prone to natural disasters, like floods, hurricanes, or tornadoes. That makes rebuilding after a major event more expensive, which is why home insurance tends to cost more in those areas. And keep in mind, your standard policy probably doesn’t cover flood or hurricane damage. If you live in a high-risk zone, it’s definitely worth looking into separate flood insurance for extra protection.

How much is homeowners insurance for a $300,000 house in Melbourne?

As per rate analysis by Insure.com, homeowners residing in Melbourne typically pay an average of $5,317 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $907 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Melbourne by company?

After comparing several homeowners insurance companies, Travelers offers the lowest rates in Melbourne. Its average annual rate for homeowners in Melbourne is $1,466 , while FedNat Holding is the second-cheapest.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Melbourne and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Melbourne and their average annual premiums.

Home insurance company	Annual rate
Travelers	$1,466
FedNat Holding	$1,737
Universal Insurance Holding	$1,924
Citizens Property Insurance	$3,384
Security First Insurance	$3,638
Progressive	$6,009
Nationwide	$6,255
HCI Group Inc	$6,479
State Farm	$6,546
Amer Integrity Ins Co of FL	$6,898
Heritage Insurance Holdings	$7,361
Allstate	$8,073

Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.

Natural disasters in Florida that can impact your home insurance

Living in Florida comes with the threat of natural disasters, which can cause significant damage to homes and property, often resulting in costly insurance claims. Understanding which natural disasters are most common in your area is essential when selecting a home insurance policy.

By knowing the specific risks in your region, you can make informed decisions about coverage limits, deductibles, and whether you need additional protection. That knowledge ensures you’re not left underinsured when disaster strikes and protects your financial well-being in the long run.

Florida is commonly affected by Hurricane and Lightning.

How home insurance protects you against natural disasters

Home insurance protects your property and belongings from the financial impact of natural disasters. Home insurance can help pay for structural damage repairs, replace lost or damaged items, and provide funds for temporary housing if you can’t live in your home. This coverage provides financial relief, making it easier for homeowners to recover quickly from the effects of natural disasters.

While standard policies generally cover damage from windstorms, hail and lightning, additional coverage is required for disasters like floods, earthquakes and wildfires.

These types of damage are usually not covered by homeowners insurance, so homeowners need to buy separate flood or earthquake insurance to ensure complete protection.

TIP

Many homeowners find out too late that their insurance doesn’t cover certain natural disasters. Be proactive – review your policy, ask your insurer about disaster-specific exclusions, and explore additional protection if you’re in a high-risk zone.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Melbourne for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

How much is home insurance in other cities?

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.