Cedar Key, FL Homeowners Insurance Rate Quotes!
You can get affordable home insurance rates in Cedar Key thanks to GetHomeInsuranceQuotes.com! It is easy to use our online quoting application to compare up to 12 major insurance companies that are now offering competitive rates in Cedar Key. Homeowners often ask how their current rate compares to average home insurance rates locally. Homeowners of Cedar Key, FL are currently paying around $1,608.00 per year for home insurance coverage for a typical single-family home, where the majority of the homeowners throughout the country pay around $1311. Great home insurance coverage only cost around $134.00 per month. It's important to know that these average homeowners insurance rates reflect the cost of a standard home insurance policy which includes the replacement cost of your home, loss of use, your contents, medial payments and liability coverage. For homes in flood zone areas, your mortgage provider will require you to purchase a flood insurance policy with is seperate from your home insurance policy. We can package the two policies together to help you get the coverage you need.
Using the rating system below, you can easily get home insurance quotes by first entering your zip code for the home you would like to insure. If it's a new home purchase, make sure you select "New Home" in the discounts section. If you are unsure of any of the basic property details of the home, we have an online chat service to help walk you through our online quoting application. We look forward to help you compare the best rates and coverages, let's get started!
| Avg. FL Rate | Discounts | Savings | Shop Rates |
|---|---|---|---|
| $2165 | up to 40% off | $866 |
The best Cedar Key homeowners insurance coverage includes an affordable rate with outstanding coverage. At GetHomeInsuranceQuotes.com, our FL licensed agents can provide up to 12 home insurance estimates for you to review. And our free consulting service allows us to answer any questions that you may have about which policy is best for your family and home.
Information on Cedar Key
The city of Cedar Key is around 702 residents in population size with 365 homes currently occupied within the city of Cedar Key. The average family household in Cedar Key is 213.
| Demographic | Values |
|---|---|
| Population | 702 |
| Total Occupied Households | 365 |
| Family Households (families) | 213 |
| Average Owner Occupied Household Size | 1.85 |
| Average Family Size | 2.44 |
| Total Housing Units | 584 |
Compare Homeowners Insurance Rates in Cedar Key, FL!
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Our Service in Florida
You can feel confident that our experience, integrity and service will help you find the best insurance policy at a price you can afford. We work with a wide variety of insurers in Cedar Key, Florida and all of them are top rated "A+" by A.M. Best Rating and have been in business for several decades.
Just a few of the insurers we work include American Integrity Insurance Group, Anchor Insurance, ASI, Bankers Insurance Group, Centauri Insurance, Chubb, Edison Insurance Company, Florida Peninsula Insurance Company, Heritage Insurance, Lexington Insurance, Olympus Insurance, People's Trust Insurance Company, St. Johns Insurance Company and many more.
Average Rates Nearby Cedar Key
Are you looking for homeowners insurance in a city near Cedar Key? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Cedar Key, FL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Cedar Key.
Cedar Key, FL Home Insurance Average Premiums
$1358 /yr.
For the city of Cedar Key, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $1358 /yr. |
| Average Coverage: | $1608 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1908 /yr. |
What is the average home insurance cost for a home in Cedar Key, FL?
- • The average homeowners insurance premium paid annually for a home in Cedar Key is around $1608 per year.
What does it cost on average per month for home insurance in Cedar Key, FL?
- • Homeowners in Cedar Key pay an average cost per month around $134.00 for insurance coverage.
Cedar Key, FL Coastal Wind, Hail & Flood Information
Cedar Key is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Cedar Key is know for it's beautiful beaches and waterways. Because Levy County (FIPS: 12075) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Cedar Key, FL.
Coastal Cedar Key, Florida Information: To obtain flood insurance coverage, the process usually takes more than 30 days to finalize, if you need flood insurance coverage now, please call us at 888-620-1954.
For more information about your area, please click Coastal Homeowners Insurance in Florida
Cedar Key, FL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $329,462 | $298,757 |
| February | $331,224 | $303,785 |
| March | $333,805 | $309,006 |
| April | $335,217 | $315,128 |
Homeowners insurance will help cover the cost to repair or replace your Cedar Key home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Cedar Key
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Cedar Key, FL homeowners insurance rates all in one place! |
Saving Money Tips on Cedar Key Home Insurance
A great way to save money on Cedar Key homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Cedar Key area? Check out what homeowners are paying on average for Florida homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 3 ft. | This is the average home elevation in Cedar Key, FL | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Cedar Key, Florida. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Cedar Key, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Levy County.
Florida Homeowners Insurance News & Information
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Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
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Florida Lawmakers May Allow Takeout Offers to Citizens’ Policyholders Posted on Wednesday 13th March, 2024
Lawmakers in Florida are moving closer to allowing specific insurer types to make offers to policyholders currently with Citizen’s Property to insure their vacation or second home. SB 1716 this week cleared the Senate’s Fiscal Policy Committee for the takeout offers after the Senate’s Banking and Insurance Committee approved the measure earlier this month. This […]
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Florida has 7 New Home Insurance Companies Entering the Market Posted on Friday 1st March, 2024
Recently, Florida has seen seven new insurance companies enter the market for homeowners coverage. Currently, the average premium for homeowners coverage is $6,000 a year in the Sunshine state compared to a nationwide average of just $1,700 a year, according to the Insurance Information Institute. The Insurance Information Institute is hopeful that the new insurance […]
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What exactly is a FAIR Plan? Posted on Tuesday 2nd January, 2024
If you live in an area where severe weather is common, or wildfires pop up every summer you may have trouble finding affordable home insurance coverage. If homes in your area are repeatedly damaged or destroyed by a covered peril, insurers may pull out of the entire area, refusing to write policies in your neighborhood. […]
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Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023
Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]
Cedar Key, FL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Cedar Key so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Cedar Key, FL?
- The average square footage in Cedar Key is around 1,072 Sq. Ft. which would cost you around $179,000 to replace the home if you base the home on the price to build per square foot of $167.
Minimum Replacement Cost Total: $179,000
Location: Cedar Key, Florida (Levy County)
Average Building Cost Per Square Foot in Cedar Key: $167 (low end)
Average Square Footage in Cedar Key: 1,072 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $167 | $179,000 |
| Some Additional Upgrades | $209 | $223,750 |
| Major Home Updates or Advancements | $251 | $268,500 |
The dwelling coverage is calculated by the average cost per square foot ($167) in Cedar Key, Florida times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $521,875 (Media price to build of $209 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.