How much is insurance on a beach house? The cost of beach house insurance can range anywhere from $850 to over $5,000 — it varies widely depending on the size, location, and mitigation elements of your coastal property, among other factors.
Is homeowner’s insurance expensive in Florida?
The average annual premium for homeowners insurance in Florida is $2,358. At an annual cost of $1,083 on average, Travelers offers the most affordable policies in the state. These figures are derived from a sample policy and residence. MoneyGeek analyzed costs for various types of Florida homes and homeowners.
Prices by region – The more desirable a region is, the higher its price tag. On the high end, the median price of a home in Del Mar is approximately $2.7 million. A home in La Jolla costs approximately $1.9 million on average. A beach house in Santa Barbara will cost approximately $1.3 million.
Santa Monica homes cost an average of $1.9 million, while a Malibu beach house will set you back approximately $4.5 million. Huntington Beach, Oceanside, Seaside, and Grover Beach have the most affordable homes along the California coast, with a median price below one million dollars. Consider Arcata, Eureka, and Crescent City for beachfront homes averaging between $350,000 and $500,000 per year.
Budget for your beach house in the same manner you would for any other residence. Be sure to set aside some funds for renovations and repairs, which may be especially important if the asking price seems low.
How much is Florida beachfront home insurance?
The annual cost of beachfront homeowners insurance in Florida ranges from $1,808 in St. Pete Beach to $5,003 in Miami, according to our analysis of Quadrant Information Services’ March 2022 home insurance rates.