Get Wesley Chapel, FL Home Insurance Rates!
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Questions about your home in Wesley Chapel:
How many people live in Wesley Chapel?
The total city area population for Wesley Chapel, FL is around 131,384.
How many total housing units?
The total homes in the city of Wesley Chapel is 6,569 housing units.
What is the average Wesley Chapel household income?
The average income in the Wesley Chapel area is around $83,574.
How much do the homes in Wesley Chapel cost on average?
The average cost of a home in Wesley Chapel is estimated to be around $232,357.
What do Wesley Chapel homeowners pay on average for home insurance coverage?
Home insurance cost around $2,165 per year on average in the Wesley Chapel area, this average is based on a $200K real estate value with a standard HO-3 policy. We help you compare rates and coverage options so you can review the best rate and policy for your home.
What is a basic home insurance policy in Wesley Chapel cover?
A standard homeowners insurance polciy in Wesley Chapel, FL is commonly known as an HO-3 policy that covers damage from all perils except those that are not covered or excluded from your coverage, exclusions are clearly documented and writting within your policy. For example, flood or earthquake coverage is not part of a standard HO-3 policy.
I live in the old part or historical district of Wesley Chapel, can I get insurance for my home?
Older homes in Wesley Chapel can be covered, your agent will shop policies under the HO-8 policy guidelines which will allow you to review multiple quotes from carriers that specialize in insuring older houses.
From the questions above, you can understand that a Wesley Chapel homeowners insurance policy can be complicated. We are here to help you shop the best home insurance prices and answer any questions you have about which homeowners policy is best for you. Get Wesley Chapel home insurance rate quotes today!
Compare Homeowners Insurance Rates in Wesley Chapel, 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 Wesley Chapel, 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 Wesley Chapel
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Home Insurance Rates by Zipcode in Wesley Chapel, FL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Wesley Chapel.
Wesley Chapel, FL Home Insurance Average Premiums
$1420 /yr.
For the city of Wesley Chapel, 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) | $1420 /yr. |
| Average Coverage: | $1670 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1970 /yr. |
What is the average home insurance cost for a home in Wesley Chapel, FL?
- • The average homeowners insurance premium paid annually for a home in Wesley Chapel is around $1670 per year.
What does it cost on average per month for home insurance in Wesley Chapel, FL?
- • Homeowners in Wesley Chapel pay an average cost per month around $139.00 for insurance coverage.
Wesley Chapel, FL Coastal Wind, Hail & Flood Information
Wesley Chapel 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 Wesley Chapel is know for it's beautiful beaches and waterways. Because Pasco County (FIPS: 12101) 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 Wesley Chapel, FL.
Coastal Wesley Chapel, 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
Wesley Chapel, FL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $430,995 | $395,314 |
| February | $428,612 | $403,376 |
| March | $427,977 | $412,236 |
| April | $427,970 | $421,295 |
Homeowners insurance will help cover the cost to repair or replace your Wesley Chapel 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 Wesley Chapel
- 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 Wesley Chapel, FL homeowners insurance rates all in one place! |
Saving Money Tips on Wesley Chapel Home Insurance
A great way to save money on Wesley Chapel 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 Wesley Chapel 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 |
|---|---|---|
| 86 ft. | This is the average home elevation in Wesley Chapel, 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 Wesley Chapel, 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 Wesley Chapel, 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 Pasco 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 […]
Wesley Chapel, FL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Wesley Chapel 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 Wesley Chapel, FL?
- The average square footage in Wesley Chapel is around 1,391 Sq. Ft. which would cost you around $232,357 to replace the home if you base the home on the price to build per square foot of $167.
Minimum Replacement Cost Total: $232,357
Location: Wesley Chapel, Florida (Pasco County)
Average Building Cost Per Square Foot in Wesley Chapel: $167 (low end)
Average Square Footage in Wesley Chapel: 1,391 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $167 | $232,357 |
| Some Additional Upgrades | $209 | $290,446 |
| Major Home Updates or Advancements | $251 | $348,536 |
The dwelling coverage is calculated by the average cost per square foot ($167) in Wesley Chapel, 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.