besthome insuranceCoral SpringsThe Best Cheap Homeowners Insurance in Coral Springs, Florida for 2023: Quotes and Reviews
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besthome insuranceCoral SpringsThe Cheapest and Best Homeowners Insurance in Coral Springs
Cheapest homeowners insurance in Coral Springs - Nationwide
Best homeowners insurance in Coral Springs - Nationwide
The Cheapest Home Insurance Companies in Coral Springs
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.
The Cheapest Home Insurance in Coral Springs, Ranked
Dwelling Coverage:
$250,000
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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 Homeowners Insurance in Coral Springs for 2022
Coral Springs$3,348
Florida$2,359
U.S.$2,103
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.
Calculate the Cost of Home Insurance in Coral Springs
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.
Home Insurance Calculator
State
Florida
Dwelling Coverage
$250,000
Deductible
$500
Liability
$300,000
Personal Property
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Coral Springs
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
1
Nationwide
Score:94
Nationwide ranks first in affordability, second in customer service satisfaction and fourth in financial stability. In Coral Springs, the average policy for Nationwide costs $1,499 per year and can cover the replacement of your roof.
More About Nationwide
Nationwide’s unique coverage for roof replacement allows you to make a claim when you upgrade your roofing materials after a loss. You can also receive a discount, but the amount will depend on how old your roof is and the type of roofing material you use. These features are add-ons, meaning they are not included in your insurance unless you add them to your policy.
Read MoneyGeek's Nationwide home Insurance Review2
Travelers
Score:93
Travelers ranks first in financial stability, second in affordability and sixth in customer satisfaction. The average rate of a policy in Coral Springs is $1,559 per year and could include coverage for reconstruction using eco-friendly materials.
More About Travelers
If you’re one to take care of the environment through building materials, Travelers’ energy efficiency coverage may work well for you. Here, Travelers covers the repair work for your home using eco-friendly materials but only after you incur a loss. You can also receive a 5% discount if you live in a “green home.” This coverage is an add-on and not automatically included in your policy.
Read MoneyGeek's Travelers home Insurance ReviewCheapest Home Insurance Companies in Coral Springs for Newly Constructed Homes
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
The Cheapest Home Insurance in Coral Springs for New Homes, Ranked
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Cheapest Home Insurance Companies in Coral Springs if You Have a Lot of Personal Property
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
Cheap Companies in Coral Springs for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Coral Springs for High Deductibles
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
The Cheapest Companies in Coral Springs for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Coral Springs if You Have Poor Credit
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
The Cheapest Companies in Coral Springs for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Coral Springs
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.
Compare Home Insurance Rates
Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.
Homeowners Insurance in Coral Springs Analysis: Methodology
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.
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