Located in Northcentral Florida, close to the Georgia-Florida border, Lafayette County sits in a mainly rural area of the state. As of 2019, the population in Lafayette County was 8,422, making it the second least populated county in the state of Florida.
Living in Lafayette
Mayo, the county seat, is the largest town in Lafayette County, as well as the only incorporated community, and has just under 1,300 residents, representing roughly 15 percent of the county’s population. There are a number of historical sites in the town, which was built in the late 1800s, including the Old Lafayette County Courthouse, the Old Mayo Free Press Building, and the House of Seven Gables.
Outside of the historic sites in Mayo, the county’s main attractions are its state parks, Lafayette Blue Springs State Park and Troy Spring State Park which both sit along the Suwannee River. Each summer, both parks draw people who want to swim, fish, and go boating or jet skiing on the river. The parks also have a number of hiking trails and campgrounds that vacationers take advantage of.
Overall, the rural communities in Lafayette have a relatively low cost-of-living. The median household income in Lafayette County, as of 2018, is $39,543, which is close to 35 percent less than the national median. The median home value is similarly low, at $131,421.
Home Insurance Premiums in Lafayette County
Purchasing home insurance is an important part of homeownership, and there are a number of factors that insurance companies take into account when calculating the quote they offer you for a policy.
In states like Florida, where tropical storms are common each year, home insurance policies are often more expensive for properties that are considered more vulnerable damage, based on location or on condition of the home. One way that you can save money on your premium in Lafayette County is to have wind mitigation features, like storm shutters, which can decrease the cost of your premium significantly.
Average Homeowners Premiums in Lafayette County
| Construction Type | Home Value | Average Premium |
|---|---|---|
| Pre-2001 (No Wind Mitigation) | $150,000 | $1,714.85 |
| Pre-2001 (With Wind Mitigation) | $150,000 | $1,233.37 |
| New Construction | $300,000 | $1,994.30 |
| Overall Average | $1647.51 |
Based on Florida’s Office of Insurance Regulation data above, the overall average for Lafayette County is $1648 for homeowners insurance. Apart from wind mitigation, there are other ways that you can make sure to save on your home insurance premium such as many companies offer discounts for bundling your plan with auto insurance or for adding security systems.
You should also consider the value of shopping around for your home insurance coverage. As you can see in the list below, the companies that offer the most affordable policies in Lafayette County have average premiums well below the county averages. For a home worth $150,000 with wind mitigation, comparison shopping to find the best rate could save you up to $700.
For $150,000 homes built before 2001 without wind mitigation, the average premium is $1,715.
For cheaper options, check out these insurers below:
- Florida Peninsula – $978
- Universal Property – $995
- Citizens – $1,112
- Security First– $1,182
List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction Without Wind Mitigation Rate in Lafayette County
| Company | Annual Premium |
|---|---|
| Florida Peninsula | $978 |
| Universal | $995 |
| Citizens | $1,112 |
| Security First | $1,182 |
| Southern Fidelity | $1,328 |
| Tower Hill Prime | $1,377 |
| Florida Farm Bureau | $1,430 |
| Stillwater | $1,443 |
| People's Trust | $1,515 |
| Florida Family | $1,574 |
| First Protective | $1,601 |
| First Community | $1,601 |
| Tower Hill Preferred | $1,660 |
| Family Security | $1,676 |
| Tower Hill Signature | $1,738 |
| Tower Hill Select | $1,751 |
| Liberty Mutual | $1,813 |
| American Integrity | $1,829 |
| American Traditions | $1,855 |
| ASI | $1,871 |
| St. Johns | $2,026 |
| Southern Oak | $2,042 |
| Castle Key | $2,056 |
| FedNat | $2,300 |
| Auto Club of Florida | $2,347 |
| State Farm Florida | $2,574 |
| Universal | $2,627 |
| Average | $1,714.85 |
For $150,000 homes built before 2001 with wind mitigation, the average premium is $1,233.
For cheaper options, check out these insurers below:
- Universal – $585
- Florida Peninsula – $748
- Florida Farm – $756
- First Protective – $800
List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction With Wind Mitigation Rate in Lafayette County
| Company | Annual Premium |
|---|---|
| Universal | $585 |
| Florida Peninsula | $748 |
| Florida Farm Bureau | $756 |
| First Protective | $800 |
| Citizens | $837 |
| Tower Hill Prime | $954 |
| Southern Fidelity | $1,046 |
| Stillwater | $1,047 |
| Security First | $1,062 |
| Tower Hill Preferred | $1,133 |
| Florida Family | $1,150 |
| People's Trust | $1,175 |
| FedNat | $1,189 |
| St. Johns | $1,197 |
| Tower Hill Select | $1,238 |
| First Community | $1,303 |
| Family Security | $1,310 |
| Southern Oak | $1,346 |
| American Traditions | $1,351 |
| Liberty Mutual | $1,372 |
| American Integrity | $1,391 |
| Tower Hill Signature | $1,429 |
| Universal | $1,431 |
| ASI | $1,525 |
| Castle Key | $1,741 |
| Auto Club of Florida | $1,974 |
| State Farm Florida | $2,211 |
| Average | $1,233.37 |
For $300,000 homes with new construction, the average premium is $1,994.
For cheaper options, check out these insurers below:
- Universal – $1,077
- Florida Peninsula – $1,199
- Florida Farm – $1,308
- Stillwater – $1,367
List of Companies & Rates for Home Valued at $300,000, New Construction in Lafayette County
| Company | Annual Premium |
|---|---|
| Universal | $1,077 |
| Florida Peninsula | $1,199 |
| Florida Farm Bureau | $1,308 |
| Stillwater | $1,367 |
| Security First | $1,387 |
| First Protective | $1,517 |
| Citizens | $1,644 |
| People's Trust | $1,653 |
| Southern Oak | $1,792 |
| Tower Hill Prime | $1,794 |
| American Traditions | $1,857 |
| St. Johns | $1,899 |
| Family Security | $1,915 |
| Tower Hill Select | $1,937 |
| Tower Hill Preferred | $1,982 |
| American Integrity | $1,988 |
| First Community | $1,999 |
| Florida Family | $2,015 |
| Southern Fidelity | $2,036 |
| FedNat | $2,363 |
| Universal | $2,423 |
| ASI | $2,494 |
| Castle Key | $2,520 |
| Tower Hill Signature | $2,566 |
| Auto Club of Florida | $2,616 |
| Liberty Mutual | $2,786 |
| State Farm Florida | $3,712 |
| Average | $1,994.30 |
Flood Insurance in Lafayette
Although Lafayette County is landlocked, flooding is still a concern, especially in communities near the Suwannee River. Each year, the Federal Emergency Management Agency (FEMA) rates regions of the county based on their flood risk. Many areas in Lafayette County have been deemed moderate risk or high risk.
If you’re considering moving to Lafayette County, it’s essential that you have a flood insurance policy to cover water damage to your home from flooding, which isn’t covered under standard policies. You can purchase affordable flood insurance through companies like First Protective, which underwrite policies through the federal government’s National Flood Insurance Program.
