Getting Home Insurance in Jacksonville
Homeowners insurance in Jacksonville typically includes coverage for the structure of your home, your personal belongings, liability protection, and living expenses if you are ever displaced from your home for a period of time. This will protect homeowners from damage or loss sustained in cases of fire, storm damage, burglary, or injury to another individual on your property.
In Florida, threats from hurricanes and flooding are of particular concern. While wind damage is typically covered by standard homeowners’ insurance policies, flood damage is not. Additional flood insurance coverage is recommended in Jacksonville to protect yourself from this type of damage. Due in large part to the increased risk of hurricane damage, Florida has the second highest average cost of insurance at $1,460. This is nearly 66% higher than the national average of $880.
Factors of Home Insurance Rates in Jacksonville
Many factors go into calculating your premium including, but not limited to, the value of your home, its square footage, construction materials, how much it would cost to replace it, any security systems, your credit, and claims history. If you have pets, especially certain breeds of dogs, it can increase your premium because of the risk injury or bites others may sustain on your Jacksonville property.
In addition, insurance companies may take your community’s infrastructure into consideration, such as how close the nearest fire department is and the proximity of fire hydrants to your residence. According to the City of Jacksonville’s website, residents are well protected with more than 900 state-certified personnel working in the fire and rescue department and an average response time of less than seven minutes city wide.
Jacksonville is Florida’s largest city with a population of more than 1.3 million people as of 2010. As a major metropolitan area, Jacksonville does have a fairly significant incidence of crime, including larceny and burglary, which can drive up the average cost of homeowners insurance in Jacksonville.
However, the single biggest risk that insurance companies factor in when calculating rates for home insurance in Jacksonville is the threat of hurricanes and weather related damage. Florida has a long history of devastating storms, including three major hurricanes in the last decade. Tropical storms and depressions also pose a risk for wind damage and flooding, which can increase the average monthly cost for residents in this area.