The Best Cheap Homeowners Insurance in Coral Springs, Florida for 2024: Quotes and Reviews

Cost can be a make-it-or-break-it factor for those looking for home insurance quotes in Coral Springs. Many companies offer common core coverages such as extended reimbursement and scheduled personal property. When you’re looking for affordability and quality, choosing a home insurance company that offers low rates for the same coverage gives you better value for your money.

MoneyGeek found the cheapest insurance companies in Coral Springs for home insurance with $250,000 dwelling coverage:

• Nationwide: $1,499 per year
• Travelers: $1,559 per year

For home insurance with $2 million dwelling coverage, the following are the cheapest home insurance companies in Coral Springs:

• Allstate: $7,470 per year
• Nationwide: $11,208 per year

In the table below, you will see how rates for homeowners insurance in Coral Springs change depending on the dwelling coverage limits.

Personal property limits of $100,000 apply to the initial baseline dwelling coverage. All policies with a dwelling coverage of $2 million have personal property limits of $800,000. A liability coverage of $100,000 applies to all policies. For homeowners living in another city, additional options for home insurance in Florida are also available.

The average cost of home insurance in Coral Springs is $3,348 per year. This is more expensive than the state of Florida’s average cost of home insurance of $2,359 per year and the national average of $2,103 per year.

The cost of homeowners insurance varies based on where you live. Other factors, such as the quantity of dwelling coverage, personal property coverage and your credit score, also impact the cost of insurance. Because of this, it’s also important to consider these factors when looking for a quote.

MoneyGeek’s home insurance calculator allows you to compare homeowners insurance rates in your state.

While cost is one of the most significant considerations when shopping for homeowners insurance in Coral Springs, there are other variables to consider. A company’s customer service determines the kind of experience you will have when you make a claim. Your financial stability also affects the insurance policy that will be available to you.

MoneyGeek ranked home insurance companies in Coral Springs based on affordability, user satisfaction and financial stability. We found that these are the best home insurance companies in the city:

• Best Overall: Nationwide
• Runner-up: Travelers

Modern materials are used in newly constructed homes, making them easier to replace and less prone to damage. Because of this, newly constructed homes are less expensive to insure since homeowners are less likely to file an insurance claim.

Newly constructed homes in Coral Springs cost an average of $2,304 per year to insure, while homes built in 2000 cost an average of $3,348 per year.

The cheapest insurance companies in Coral Springs for newly constructed homes with $250,000 in dwelling coverage are the following:

• Nationwide: $915 per year
• Travelers: $1,338 per year

Home insurance also covers personal property, giving you an extra layer of protection in the event that your belongings are damaged. However, the more personal property you own, the higher your homeowners insurance premiums will cost. In Coral Springs, it costs an average of $3,805 to purchase personal property limits of $250,000 with a standard policy, compared to an average of $3,348 for $100,000 in personal property coverage limits.

The cheapest insurance companies in Coral Springs for those with a higher personal property coverage of $250,000 are the following:

• Travelers: $1,740 per year
• Nationwide: $1,754 per year

Having a higher deductible reduces the cost of your home insurance but it also increases the amount of money you pay out of pocket when you make a claim. A policy with a $2,000 deductible costs an average of $2,902 per year, while a policy with only a $1,000 deductible costs $3,348 per year.

The cheapest companies in Coral Springs for homeowners with high-deductible policies of $2,000 are the following:

• Nationwide: $1,263 per year
• Travelers: $1,382 per year

Insurance companies rate homeowners based on their credit score. As such, homeowners with poor credit scores often pay more expensive premiums. On average, homeowners insurance in Coral Springs costs $4,278 for people with poor credit, compared to an average of $3,348 for those with good credit.

The cheapest insurance companies in Coral Springs for homeowners with poor credit are the following:

• Nationwide: $1,499 per year
• Travelers: $1,559 per year

Getting a quotation online is a quick and easy method to find out the cost of homeowners insurance in Coral Springs. To receive an accurate quote, you'll need to provide certain information. Here's everything you'll need to get started:

• The replacement cost of your home: To figure out your dwelling coverage limits, you'll need to know the cost of reconstructing your home. A construction professional or a building contractor can provide you with an estimate.
• The value of your personal property: The personal property coverage limits will be determined by the value of the belongings you have at home.
• Personal information: The insurance provider will often ask for your address, information about the people who live in your home, insurance history, credit score and other personal information.
• Information about your house: Insurers will also require specific information about your home, such as the year it was built, the square footage and existing security systems.

MoneyGeek compared home insurance rates in Coral Springs from ten different companies. Data was provided in partnership with Quadrant and quotes were collected for a home with varying coverage levels to generate affordability scores. Customer satisfaction ratings were derived from J.D. Power surveys.

Quotes were also collected for homeowners with newly constructed homes, increased dwelling or personal property coverage, larger deductibles, and bad credit scores.

We used the specifications of a 2,500-square-foot home built in 2000 as the base profile for a homeowner. This profile also has $250,000 in dwelling coverage, $100,000 in personal property coverage, $100,000 in liability coverage and $1,000 in deductibles.