How much is homeowners insurance in Melbourne,FL

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As per Insure.com’s rate data analysis, 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), It’s $2,813 more than the national average of $2,504 .

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Melbourne depend on several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Travelers is the cheapest homeowners insurance company in Melbourne with an average annual premium of $5,317 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Melbourne. Keep reading to learn about the monthly cost of homeowners insurance in Melbourne, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in Melbourne.

Key takeaways

The cost of your homeowners insurance policy in Melbourne can vary based on factors such as your location, the value of your home, and the coverage options you select.
Travelers is the cheapest homeowners insurance company in Melbourne with an average annual premium of $1,466.
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $907 more, annually for home insurance.

How much is homeowners insurance in Melbourne per month

According to our rate analysis, homeowners in Melbourne pay an average of $443 per month. It’s $62 more than the state average of $381 and $234 more than the national average for home insurance across the United States.

In Melbourne, the cost of your homeowners insurance policy depends on the value of your home, location, and the coverage options you select.

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 amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

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

According to a rate analysis by Insure.com, homeowners in Melbourne pay an average of $5,317 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $907 more a year for home insurance. It would be best to buy enough insurance to cover the full 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

Among the carriers analyzed, Travelers is the cheapest homeowners insurance company in Melbourne. It’s average annual rate for Melbourne homeowners is $1,466. FedNat Holding ranks second and Universal Insurance Holding makes it to the third spot with an average annual home insurance rate of $1,924.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Melbourne and prepared a list of the cheapest home insurance providers. You can find below the Melbourne home insurance companies and their average annual premium.

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

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.