Updated: December 16, 2024
Advertising & Editorial Disclosure
In Palm Bay, Florida, State Farm is the overall best and cheapest choice for home insurance. If customer service is your priority, Chubb is the best.
These companies address different needs. Choosing the best cheap home insurance depends on individual needs, such as cost, customer service and coverage options.
Best HomeInsurancePalm Bay, FLTable of Contents
Why Trust MoneyGeek? We used data and rates from the Florida Department of Insurance and Quadrant Information Services to select the top homeowners insurance options in Palm Bay.
Home insurance premiums in Palm Bay represent the latest available quotes as of September 2024.
MoneyGeek found that State Farm is the best option for home insurance in Palm Bay, Florida, for $100K dwelling coverage. It has a MoneyGeek score of 93 out of 100.
The scores for home insurance companies in Palm Bay, Florida, range from 38 to 93. These figures reflect MoneyGeek's scoring system, which may vary based on factors such as your credit history and the age of your home.
| State Farm | 93 | $914 |
| Nationwide | 92 | $1,054 |
| Florida Peninsula Insurance | 79 | $1,665 |
| Allstate | 78 | $1,759 |
| Chubb | 75 | $3,359 |
| ASI | 71 | $1,499 |
| Heritage Insurance | 61 | $2,384 |
| Universal Property | 38 | $4,716 |
MoneyGeek found that State Farm is the best option in Palm Bay, Florida, for $100K dwelling coverage. The two best overall home insurance companies in Palm Bay for $100K dwelling coverage are:
State Farm is the best home insurance provider due to its strong affordability and customer satisfaction, which contribute significantly to its high MoneyGeek score.
In Palm Bay, Florida, various companies offer different cost and service experiences. Although price is important, other factors like customer service and coverage options should also be considered, particularly when making claims.
State Farm is the best overall company, scoring high in affordability and customer satisfaction. It offers comprehensive home insurance coverage with scheduled personal property and building ordinance or law. You can save with discounts like bundle and protective device. Bundling lets you combine policies for savings, while protective device discounts apply if you have alarms installed.
State Farm provides useful coverages like building ordinance or law, which helps if you need to rebuild to current codes. Scheduled personal property covers valuable items like cameras. Back-up of sewer or drain protects against water damage from backed-up drains.
MoneyGeek found that Chubb offers the best customer service in home insurance in Palm Bay, Florida, for $100K dwelling coverage. Here are the top two providers offering this coverage:
Chubb stands out due to its high customer satisfaction score, which plays a significant role in its top MoneyGeek rating. Customers choose Chubb for its commitment to quality service and support.
Excellent service in home insurance is when companies provide quick help and clear communication.
Chubb stands out for its high customer satisfaction and coverage scores. It offers comprehensive home insurance with guaranteed replacement cost and building ordinance or law. Discounts like new home and home renovation help policyholders save. For example, you can get a discount if your home has been renovated within the last six years.
Chubb provides useful coverages like cash settlement, which offers a payout if you choose not to rebuild after a loss. Personal property replacement cost ensures your belongings are covered without depreciation. Risk consulting offers services like home assessments to help protect your home.
MoneyGeek found that State Farm is the best cheap home insurance company in Palm Bay, Florida, offering $100K dwelling coverage. The top two best cheap insurance providers for $100K dwelling coverage are:
When considering the average cost of homeowners insurance in Florida, State Farm stands out due to its high affordability score and customer satisfaction. Opting for cheap home insurance often means choosing lower coverage, which can save money. However, it may not be enough if an accident occurs. In instances where saving on premiums is a priority, considering the cheapest homeowner insurance companies may be beneficial.
The best cheap insurance is different from the cheapest as it balances cost with other factors. State Farm effectively balances value with quality service.
State Farm is the best cheap company, with a high MoneyGeek score due to its affordability. It offers comprehensive home insurance with building ordinance or law and mold coverages. You can save with discounts like roof replacement cost, which helps if your roof is damaged.
State Farm's building ordinance or law coverage is useful for meeting local building codes. Mold coverage helps with mold damage. Discounts like wind mitigation can lower costs if your home meets certain standards.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 24, 2024
Many factors affect homeowners insurance in Palm Bay, with location being a key one. To save, compare rates from at least three companies. This process can take over an hour. MoneyGeek's home insurance calculator simplifies this by highlighting important factors, such as age, dwelling coverage, credit score, deductible and liability coverage, for an instant estimate.
State Farm is the best choice in Palm Bay, Florida, with a MoneyGeek score of 96. It offers a budget-friendly option at $914 annually. The crucial element affecting home insurance costs is the dwelling coverage selected, as it directly impacts your premium.
State Farm excels in Palm Bay, Florida, due to its affordable rates and high score, making it both the cheapest and highest-rated. Meanwhile, its $250K and $500K options similarly offer the best blend of cost and performance.
Securing the cheapest homeowners insurance in Florida aids in keeping financial commitments manageable.
| State Farm | $914 |
| Nationwide | $1,054 |
| ASI | $1,499 |
| Florida Peninsula Insurance | $1,665 |
| Allstate | $1,759 |
| Heritage Insurance | $2,384 |
| Chubb | $3,359 |
| Universal Property | $4,716 |
State Farm is the cheapest provider for home insurance in Palm Bay, Florida, for high-value homes needing $750K dwelling coverage. High home insurance costs are required because homes that cost more need more coverage to replace.
State Farm stands out for offering the lowest rates in Palm Bay. According to MoneyGeek, it is also regarded as the best choice overall in terms of its combined affordability score and customer satisfaction.
| State Farm | $3,987 |
| Nationwide | $6,009 |
| ASI | $8,746 |
| Allstate | $10,491 |
| Florida Peninsula Insurance | $13,580 |
| Heritage Insurance | $19,150 |
| Universal Property | $24,781 |
| Chubb | $25,043 |
State Farm is the most affordable choice for new homes in Palm Bay, Florida, offering $100K dwelling coverage.
State Farm's low costs make it the cheapest homeowners insurance provider in Palm Bay, Florida. However, it might not always align with being the best option based on other factors.
Remember, it's important to ensure that you are adequately covered.
| State Farm | $373 |
| Nationwide | $477 |
| ASI | $577 |
| Allstate | $735 |
| Florida Peninsula Insurance | $1,081 |
| Heritage Insurance | $1,151 |
| Chubb | $2,249 |
| Universal Property | $2,258 |
The best affordable homeowners insurance providers balance quality and cost, offering excellent customer service and comprehensive coverage at low premiums.
The best cheap homeowners insurance in Palm Bay depends on your needs. Consider factors beyond premiums, such as coverage limits and deductibles. Follow these steps to get the best cheap home insurance:
To determine how much home insurance coverage you need, consider the specifics of your Palm Bay, Florida, home, including rebuilding costs, personal property value and liability requirements.
Research insurance companies in Palm Bay, Florida. Focus on those with strong financial stability, positive customer feedback and a history of reliable service.
Once you know your coverage needs, compare home insurance quotes. In Palm Bay, Florida, premiums for $100K dwelling coverage range from $914 to $4,716 annually.
Inquire with each provider about potential discounts, such as for bundling policies, having security features or maintaining a claims-free history.
Opting for a higher home insurance deductible can reduce your premium, but ensure it's an amount you can manage if needed.
Enhancing your home's security with systems and strong locks can lower its risk profile and potentially decrease insurance costs.
A good credit score can influence your insurance rates in Palm Bay, Florida. Pay bills on time and reduce outstanding debt.
Consider combining your homeowners insurance with other policies like auto insurance to achieve discounts and savings.
The best cheap home insurance provider for you in Palm Bay depends on your coverage needs and budget. Get answers to common questions about the best cheap insurance rates in Palm Bay, Florida, to help you make informed decisions.
The average cost of home insurance in Palm Bay, Florida, is $1,625.
State Farm offers the cheapest home insurance in Palm Bay, Florida, with an annual premium of $914.
The best home insurance in Florida for Palm Bay residents is provided by State Farm, with a MoneyGeek score of 93 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
