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Home Insurance in Lake County, FL: Companies & Premiums

Home Insurance in Lake County, FL: Companies & Premiums

Home Insurance in Lake County, FL: Companies & Premiums
Lakefront home in Clermont, FL located in Lake County 📸 via Zillow

Lake County is a centrally located county in peninsular Florida, and the county has a relatively large population compared to many of its neighboring counties; as of 2019, the county has close to 370,000 residents. As its name suggests, Lake County has numerous natural bodies of water within its borders, with over 250 lakes and 1,735 other bodies of water dispersed throughout the area.

Living in Lake

In Lake County, the median household income is a little under 20 percent less than the national median, at $51,884 as of 2018. The property values in Lake County are slightly high for this income level, with a median home value of close to $235,000 as of March 2020 according to Zillow.

The county represents part of the Orlando-Kissimmee-Sant Metro Area. The largest cities in Lake County include Clermont (36,700 residents), Eustis (21,100 residents), Leesburg (23,200 residents), and Taveres (17,500 residents). Compared to some of the neighboring counties, Lake County’s residents are much more compacted into its numerous small to mid-sized cities.

Home Insurance Premiums in Lake County

Compared to its cost-of-living, median income, and median home value, the average premiums for Lake County are moderately high, but thankfully, there are ways you can mitigate this cost. One method is by ensuring your property has wind mitigation.

As the table below indicates, pre-2001 homes valued at $150,000 without wind mitigation have an average premium of about $1,150, while similar homes with wind mitigation have average premiums that are close to $650 higher. 

Average Homeowners Premiums in Lake County

Construction TypeHome ValueAverage Premium
Overall Average$1,617.16
Pre-2001 (No Wind Mitigation)$150,000$1,746.07
Pre-2001 (With Wind Mitigation)$150,000$1,157.22
New Construction$300,000$1,948.19

The overall average for homeowners in this county is $1,617 based on the data by Florida’s Office of Insurance Regulation. Other methods to bring down the cost of your home insurance premium are to bundle your policy for discounts from your insurance (such as with auto insurance) and adding security systems, lights, or other features, among other incentives that insurance companies may offer.

An even better way to save on home insurance is to make sure you’re getting a high-value policy from the start. Insurance companies can vary greatly in the policy quotes that they offer customers and as the list below shows, comparison shopping for the best price that you can be offered has the potential to save you $550 to almost $900.

For $150,000 homes built before 2001 without wind mitigation, the average premium is $1,746.

Cheaper-than-average options below:

  • First Community – $1,187
  • Tower Hill Prime – $1,237
  • Citizens – $1,246
  • Stillwater – $1,285

List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction Without Wind Mitigation Rate in Lake County

CompanyAnnual Premium
Average$1,746.07
First Protective$1,187
Tower Hill Prime$1,237
Citizens$1,246
Stillwater$1,285
Southern Fidelity$1,387
Tower Hill Preferred$1,429
Universal$1,555
American Integrity$1,558
Tower Hill Select$1,569
Universal$1,591
Florida Peninsula$1,597
Family Security$1,629
ASI$1,662
Florida Family$1,672
St. Johns$1,714
Tower Hill Signature$1,730
Liberty Mutual$1,732
American Traditions$1,784
People's Trust$1,817
First Community$1,825
FedNat$1,846
Florida Farm$1,850
Security First$2,154
Castle Key$2,365
Auto Club Florida$2,371
Southern Oak$2,500
State Farm Florida$2,852

For $150,000 homes built before 2001 with wind mitigation, the average premium is $1,157.

Cheaper-than-average options below:

  • First Protective – $654
  • Stillwater – $763
  • Citizens – $798
  • Tower Hill Prime – $811

List of Companies & Rates for Home Valued at $150,000, Pre-2001 Construction With Wind Mitigation Rate in Lake County

CompanyAnnual Premium
Average$1,157.22
First Protective$654
Stillwater$763
Citizens$798
Tower Hill Prime$811
Universal$815
Florida Farm$818
St. Johns$891
Universal$922
American Traditions$952
Tower Hill Preferred$972
American Integrity$1,064
Southern Fidelity$1,075
Tower Hill Select$1,086
ASI$1,094
People's Trust$1,095
Tower Hill Signature$1,154
Liberty Mutual$1,180
Family Security$1,202
Florida Peninsula$1,232
Florida Family$1,261
Southern Oak$1,277
FedNat$1,320
First Community$1,496
Auto Club Florida$1,641
Security First$1,664
Castle Key$1,712
State Farm Florida$2,296

For $300,000 homes with new construction, the average premium is $1,948.

Cheaper-than-average options below:

  • Stillwater – $1,078
  • First Protective – $1,222
  • Universal – $1,419
  • St. Johns – $1,470

List of Companies & Rates for Home Valued at $300,000, New Construction in Lake County

CompanyAnnual Premium
Average$1,948.19
Stillwater$1,078
First Protective$1,222
Universal$1,419
St. Johns$1,470
Southern Oak$1,503
Florida Farm$1,532
Tower Hill Prime$1,565
American Traditions$1,570
Citizens$1,649
Universal$1,723
Tower Hill Preferred$1,730
Tower Hill Select$1,732
American Integrity$1,738
People's Trust$1,827
Family Security$1,858
ASI$1,865
Florida Peninsula$2,001
Southern Fidelity$2,098
Tower Hill Signature$2,170
Florida Family$2,213
First Community$2,318
FedNat$2,344
Auto Club Florida$2,385
Liberty Mutual$2,459
Castle Key$2,535
Security First$2,700
State Farm Florida$3,897

Flood Insurance in Lake

Despite the fact that Lake County is landlocked, its plethora of lakes and other bodies of water means that many properties in the county are likely at risk for flooding from being located within floodplains. As a result, homeowners in the county need to purchase separate flood insurance in addition to their FL home insurance policies.

If you have plans to buy a house in Lake County, an additional flood insurance policy will provide you much-needed financial protection for your home, as standard home insurance doesn’t cover water damage from flooding. 

Regional insurance companies such as First Protective offer affordable, price-controlled plans as part of the federal National Flood Insurance Program, but keep in mind that these policies can only go up to $250,000, so you may need an additional private policy to make up for any coverage gaps.

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