Homeowners Insurance Quotes in Daytona Beach, FL

What You Should Know About Home Insurance in Daytona Beach

First incorporated in 1876, the towns of Seabreeze and Daytona merged with Daytona Beach in 1926. The city is known for its smooth, hard-packed sand and wide beach, popular for building sandcastles, jogging, relaxing in the sun, and even driving. But that is not all Daytona Beach has to offer.

Six higher-learning institutions attract an abundance of college students. The city is also known for its Daytona 500 races at the Daytona International Speedway. Other activities include the Halifax Harbor Marina, which provides visitors with features like 60 acres of walking paths, access to Riverfront shops and restaurants, a boat launch ramp, picnic tables, grills, and a fishing pier, and the Peabody Auditorium, where you can catch live entertainment, including Broadway shows.

No matter what you are doing — chowing down on beach tacos or enjoying a sunset stroll — do it with the confidence that your Daytona Beach home is protected. The expert InsureOne agents can help make it happen by providing white-glove service to find you the best Florida homeowners insurance at the best rates.

How Much Does a Homeowners Insurance Policy Typically Cost in Daytona Beach?

Inflation and the likelihood of natural disasters are two of the considerations that help determine insurance rates. Your home’s value and zip code are also determining factors.

Daytona Beach residents pay less than the national average, as shown in the chart below:

Dwelling Insurance Total	Average Annual Cost in Daytona Beach	Average Annual Cost Nationwide
$300K	$1,775	$2,582
$600K	$3,351	$4,140
$1 million	$5,413	$7,380

We arrived at these numbers by using the cost of dwelling coverage, a $100,000 liability and a standard $1,000 deductible.

How Do Home Insurance Deductibles Change Insurance Rates in Daytona Beach?

Your deductible is the portion you agree to pay when you file a claim. Raising your deductible lowers your insurer’s risk of smaller claims, so they offer a reward in the form of lower rates. But a higher deductible means you will pay more out of pocket toward property damage.

Here are some examples with a $2,000 deductible:

• With $2,000 in damage, you will pay for the repairs yourself.
• With $1,500 in damage, you will again pay for all the repairs.
• With $3,000 worth of damage, your insurer will cover $1,000.

If you want lower rates and have money on hand to cover damage, a higher deductible may be the right choice. Your InsureOne agent can provide customized options to help you decide.

Is Home Insurance Tax Deductible in Daytona Beach?

You may be wondering if your home insurance is tax deductible. The answer is sometimes — if you fit into certain categories, such as:

• You rent out a room or rooms in your primary home as a business endeavor.
• You use a fraction of your primary home for business purposes only.
• You own and rent out another home besides your primary residence.

Check with your tax professional to see if you fit the criteria for a tax deduction.

Does Daytona Beach Have the 80% Homeowners Insurance Rule?

Most Daytona Beach insurers do follow the 80% rule. This rule, which is not a law but an industry standard, means you need coverage equal to 80% of the replacement cost of your home — for example, you would need a minimum of $320,000 worth of coverage for a home that would cost $400,000 to replace (80% of $400,000).

Be sure to notify your insurance agent if you make property modifications that increase or decrease your home’s replacement cost to verify you are paying (or not overpaying) for the right amount of coverage.

You can check with your InsureOne agent about your policy anytime — you will receive top-tier service as your agent verifies you have adequate protection and competitive rates.

Bundling Home and Auto Insurance in Daytona Beach

Bundling simply means buying more than one policy from one provider. You can bundle your home and auto insurance, but you can also bundle any other types of insurance — you can even bundle your renters and auto insurance.

Bundling your policies can save you money (up to 25% off your policy) and save you time because you only have to deal with paperwork and bills from one company. If you are looking for cost savings along with high-quality home or auto coverage or any other coverage, such as RV, boat, and more, your InsureOne agent can help.

How Does Home Composition Impact Insurance Rates?

Standard wood frame construction is more vulnerable to damage from such elements as rot, mold, and fire. Concrete block construction is more durable and resistant to the Sunshine State’s humidity. Composition roofing is cheaper to replace, while tile roofs are typically more expensive to replace. Certain outdated or unavailable materials, such as those found in older homes, may be more costly or even difficult to replace.

Insurers weigh all these factors about your home’s building materials when determining your rate.

What Are the Different Types of Homeowners Coverage Offered in Daytona Beach?

When you move into a new living situation, such as from a single-family home to a condo, your homeowners coverage type will change. This is because there are eight types of standard homeowner insurance that fit the different types of available homes.

Here are four of the policy types (“perils” are events, such as fire, lightning, or vandalism):

• HO-1: This is a basic policy for single-family homes covering just 10 perils. It pays actual cash value rather than the rebuild cost. Your mortgage company may require you to have a higher level of coverage than this one.
• HO-3: This policy is more common for homeowners and covers your belongings along with your home for 16 perils.
• HO-4: This policy is for renters and covers just your belongings.
• HO-6: This condo and co-op policy provides coverage for your belongings as well as walls, floors, and ceilings (e.g., drywall, cabinets, appliances, etc.).

Your InsureOne agent can help you decide which of the eight policy types is right for you or help you switch from one to another if you are moving to a new home type.

What Is the Most Common Type of Home Purchased in Daytona Beach?

Many Daytona Beach homes — almost 43% of the city’s housing — are single-family detached homes with up to two bedrooms. Large apartment complexes and high-rise apartments come in next at about 37%. The city also has duplexes, homes converted into apartments or smaller apartment buildings, as well as row houses and other attached homes.

With so many local colleges, it is no wonder there is a mix of homeowners and renters. If you are looking to transition from renting to owning a home, consider reading up on the hidden costs of homeownership before taking the plunge.

Think of your local InsureOne as a one-stop shop where your agent can help you with homeowners insurance coverage, renters insurance, a condo policy, or any other insurance.

Which Common Natural Disasters Are Covered by Home Insurance in Daytona Beach?

Florida’s My Safe Florida Home program requires insurers to offer discounts to homeowners who have added wind mitigation features, like hurricane roof ties, hurricane shutters, and impact-resistant windows, to their homes. This program also offers hurricane mitigation grants to some homeowners who apply.

Here is some information about coverage for natural disasters in Daytona Beach:

• Flooding: Daytona Beach homes are at substantial risk of flooding due to their proximity to water and Florida’s frequent storms. While certain water damage, such as from burst pipes, is typically covered, flooding is generally not covered. Your mortgage provider may require you to add on this coverage.
• Windstorms: It is likely your policy covers damage from windstorms, which includes wind damage from hurricanes.
• Wildfires: Many residents remember the area’s 1998 wildfire that burned nearly 500,000 acres. Fire continues to be a risk in Daytona Beach. Most policies cover damage from these fires.
• Hailstorms: Daytona Beach residents are no strangers to hailstones, sometimes as large as golf balls, that can cause considerable damage. Most policies cover damage from hailstones.

Read your policy carefully to confirm your coverage before you need to file a claim. Your agent can help you with coverage that applies to your unique situation.