Let TGS Handle the Heavy Lifting: Top-Tier Home Insurance and Savings in One Place
As an independent agency, TGS Insurance Agency partners with over 55 top-rated insurance carriers, offering you a wide range of comprehensive home insurance options. Our expert agents are dedicated to making the insurance shopping process simple and hassle-free. From the moment you request a free, instant quote, we handle the hard work, customizing your policy to fit your needs and identifying every available discount. Our commitment to exceptional service means you receive the best coverage at competitive rates. At TGS Insurance Agency, we do the shopping so you can enjoy the savings. Yes, it really is that easy.
Understanding Home Insurance Coverages in Fort Lauderdale, Florida
When it comes to protecting your home in Fort Lauderdale, Florida, understanding the basics of your home insurance policy is crucial. Here are the six primary coverages typically included in a Florida home insurance policy:
- Dwelling Coverage (Coverage A)
- Explanation: Dwelling coverage helps pay to repair or rebuild your home if it’s damaged or destroyed by a covered peril, such as fire, wind, hail, or lightning.
- Example: If a fire damages the roof of your home in Fort Lauderdale, your dwelling coverage will help cover the cost of repairs.
- Other Structures Coverage (Coverage B)
- Explanation: This coverage protects structures on your property that are not attached to your main house, like a detached garage, shed, or fence.
- Example: If a strong storm knocks over a fence in your backyard, other structures coverage will help pay for the replacement.
- Personal Property Coverage (Coverage C)
- Explanation: Personal property coverage helps cover the cost of your personal belongings if they are stolen, damaged, or destroyed by a covered peril.
- Example: If your home is burglarized and your electronics are stolen, personal property coverage would help reimburse you for the lost items.
- Loss of Use Coverage (Coverage D)
- Explanation: Also known as additional living expenses (ALE), this coverage helps pay for temporary living expenses if your home is uninhabitable due to a covered loss.
- Example: If a fire renders your home uninhabitable, loss of use coverage would help pay for hotel bills and dining out while your home is being repaired.
- Personal Liability Coverage (Coverage E)
- Explanation: Personal liability coverage protects you if you are legally responsible for injuries or property damage to others. It helps cover legal fees, medical bills, and damages.
- Example: If a guest slips and falls on your property and sues you for medical expenses, personal liability coverage would help cover the costs associated with the lawsuit.
- Medical Payments Coverage (Coverage F)
- Explanation: This coverage pays for medical expenses for guests who are accidentally injured on your property, regardless of who is at fault.
- Example: If a visitor trips on your front steps and requires medical attention, medical payments coverage would help pay for their medical bills.
Understanding these basic coverages ensures you have the right protection for your home in Fort Lauderdale, Florida. Always review your policy details with an insurance professional to ensure your coverage meets your needs.
What is the Typical Cost of Home Insurance in Fort Lauderdale?
For TGS Insurance customers in Fort Lauderdale, the average annual cost of home insurance is $4,007. This average is calculated for homes with an average value of $440,584 and includes windstorm and hail coverage with a 2% deductible. The cost of your policy can fluctuate based on various factors, such as the age, value, and location of your home, as well as your credit score and coverage preferences. At TGS Insurance Agency, we offer flexible options to help you tailor your policy to your needs and budget. Start with a free instant home insurance quote by entering your address above to find the perfect fit for your coverage needs.
Average Home Insurance Costs in Fort Lauderdale by Coverage Level
Dwelling coverage is a crucial part of your home insurance, designed to protect the physical structure of your home from covered risks. This coverage ensures that you have funds to repair or rebuild your home if it is damaged or destroyed by a covered event. The amount of dwelling coverage you need is based on the estimated cost to rebuild your home, and your policy provides coverage up to a specified limit. Setting a dwelling coverage limit that accurately reflects the rebuilding cost is essential to avoid being underinsured in the event of a total loss. Higher dwelling coverage limits generally lead to higher premiums as the insurer takes on more risk.
Dwelling Coverage Limits Average Annual Premium (incl. Windstorm & Hail Coverage)
$200,000 - $299,999 $2,672
$300,000 - $399,999 $3,121
$400,000 - $499,999 $3,960
$500,000 - $599,999 $4,573
$600,000 - $699,999 $5,940
$700,000 - $799,999 $7,129
$800,000 - $899,999 $8,180
Fort Lauderdale Home Insurance Rates By Home Age
In Fort Lauderdale, Florida, the age of your home is a key factor influencing home insurance costs. Older homes often carry higher premiums due to aging roofs, outdated electrical and plumbing systems, and materials that may not meet current building codes—especially important in a hurricane-prone region. As a result, the average premium for homes older than 25 years in Fort Lauderdale is $5,211, reflecting the increased risk. In contrast, newer homes, built within the last 25 years, benefit from updated construction standards designed to withstand Florida’s extreme weather, leading to lower insurance costs, with an average premium of $3,179. Homeowners with older properties can help reduce premiums by investing in upgrades like wind-resistant roofing, impact-resistant windows, and modernized systems that improve both safety and insurability.
How Square Footage Affects Your Fort Lauderdale Home Insurance
The size of a home plays a significant role in determining home insurance rates. Larger homes often come with higher premiums because they require more resources to repair or replace after a loss. More square footage translates to higher material and labor costs during reconstruction, increasing the potential for costly claims. Furthermore, larger homes typically contain more valuables, leading to a need for greater coverage. Insurers also consider that larger homes may have more complex systems, such as heating and electrical, which can be pricier to fix. Conversely, smaller homes usually have lower insurance premiums since their replacement costs are lower and they generally contain fewer belongings.
For example, TGS Insurance clients in Fort Lauderdale with homes over 2,500 square feet typically pay an annual premium of $5,551, while those with homes under 2,500 square feet pay around $3,175 per year. This data underscores how home size directly affects insurance costs, with larger homes incurring higher premiums due to increased potential claim expenses.
Why Do Home Insurance Premiums Differ Between Providers?
Home insurance rates differ from one carrier to another due to several factors. Each insurer has its method for calculating risk, which includes analyzing the home’s location, age, and condition, along with the homeowner’s claim history and credit score. Additionally, different carriers offer various discounts, such as those for bundling policies, installing safety features, or maintaining a claims-free record. Regional risks and previous natural disasters can also affect premiums, as some insurers might price these higher than others. Furthermore, the quality of customer service and the insurance company’s financial health can influence rates, with more established firms possibly charging more for their reliability and comprehensive coverage. As a result, it’s essential for homeowners to compare quotes from several carriers to find the best coverage at the most competitive rate.
Zip Codes in Fort Lauderdale We Cover
33301 33304 33305 33306 33308
33309 33311 33312 33313 33314
33315 33316 33317 33319 33321
33322 33323 33324 33325 33326
33327 33328 33330 33331 33332
33334 33351
Can’t find your zip code? No worries! We’re here to assist homeowners across Florida in securing the best home insurance coverage. Begin with a free instant quote by entering your address above.
