Hollywood, Florida Homeowners Insurance

Hollywood, Florida Homeowners Insurance

Hollywood, a metropolitan suburb in the Miami Area, is a city with an average population of 150,000 people. In addition to beautiful and luxurious homes, the locale boasts pristine beaches, a spectacular nightlife, five-star restaurants, and state-of-the-art entertainment venues.

Majority of Hollywood residents have their houses as their most significant investment. As a result, residential and commercial property owners in Hollywood require homeowners insurance to protect their most valuable asset.

Most people looking for a suitable home insurance cover for their homes often find themselves comparing rates from different insurance providers. However, this task can be tedious for someone unfamiliar with how property insurance works. Luckily, independent insurance agents from Moran Insurance ensure that comparison home insurance shopping is a remarkably easy task for people living in Hollywood. Moran Insurance agents use their extensive networks to help you access reliable and up-to-date homeowners insurance quotes from top-rated insurance providers in Florida.

The Cost of Homeowners Insurance in Hollywood, Florida

How much is Homeowners Insurance in Hollywood, Florida

With an average annual premium of $1,103, Florida has one of the highest homeowner insurance rates in the US, considering that the national average is $ 1,034. Homeowners in Hollywood should, therefore, expect to pay higher rates than most other US cities. While the location of homes in a low-lying coastal region necessitates higher home insurance premiums, several other factors significantly affect how much you pay every month for homeowner insurance. These factors include:

  • The specific location of your home – beachfront properties feature higher premiums compared to inlandhouses.
  • The age of your house – insurancepremiums increase as the building gets older
  • The materials used in the construction of your home – prominentuse of fragile materials such as glass significantly increases monthly insurance premiums.
  • The market value of your house and the total estimated rebuilding costs – monthlycosts of insuring luxurious homes are often higher than the average home.
  • The presence of various amenities and infrastructure on the property –Homeowners with functioning solar pool heaters pay lower monthly premiums than people using electric or gas models.
  • The use of a house as the primary residence or as a vacation home.

Moran Insurance uses a dedicated matching platform to link Hollywood property owners with conscientious and dedicated independent insurance agents. Using this system, you can choose more than one agent to help you in your quest for the ideal homeowner insurance policy. The agent matching system uses state-of-the-art encryption to guarantee private communication between you and your agents at all times. Additionally, Moran Insurance does not sell any personal information stored in the client database to third parties, who include advertising agencies, consumer goods manufacturers, and governmental agencies.

Secondary Residence or Vacation Home Insurance in Hollywood

A good number of residences in Hollywood are vacation homes owned by part-time residents of the residential suburb. Because these properties are often unoccupied for several months at a time, vacation residences feature a higher risk of damage or loss when the unexpected happens. Such sudden and unfavorable outcomes include:

Burglary and Theft of Appliances, Fixtures, and Other Valuables

While the burglary rate in Florida is lower than the national average, the residential suburb of Hollywood reports an average of 1,500 burglaries every year. This alarming figure translates to 10.23 break-ins for every 1,000 homes, which is higher than the national rate of 6.11. To ward off the potential risk for property loss due to theft, Hollywood property owners often install sophisticated security systems in their secondary residents. Taking such a proactive step is highly advisable because you pay a lower homeowner insurance premium for having an anti-theft system installed in your house. Furthermore, choosing a comprehensive homeowner insurance cover ensures you get a cash-value equivalent for loss or damage to items due to burglary.

Extensive Water Damage to Items Within the Home Due to Sudden Flooding

Some unexpected outcomes, such heavy tree branches falling on top of a house, can compromise the structural and functional integrity of the roof. A leaking roof then allows rainwater to get inside the house and cause extensive water damage to ceilings, wall partitioning, furniture, fixtures, appliances, and other household items.Torrential downpours in Florida’s relatively flat coastal terrain often lead to sudden floods within residential suburbs in many parts of the coastal state. Such flooding also causes costly water damages to houses and yards. Fortunately, Hollywood residents can count on Moran Insurance agents for homeowner insurance policies that encompass flood insurance.

Powerful Tropical Hurricanes That Can Uproot Trees Which Fall on Houses

Hollywood, FL Home Insurance CoverThe proximity of Florida to the Mexican Gulf is the primary reason why residential suburbs like Hollywood often face severe tropical storms. These storms form in the open ocean and gradually increase in strength as they move towards nearby coastlines. An adverse consequence of Florida’s coastal location is that the state has encountered 23 significant hurricanes in the past decade. The cumulative property damage that these sudden hurricanes have wrought currently stands at $210 million. The reason being, major tropical hurricanes feature powerful 110 mph gales that can uproot entire trees. When a large uprooted tree falls on a nearby home, a homeowner is usually left with no choice but to rebuild the entire house. In this manner, hurricanes lead to the complete destruction of homes and everything within them. Luckily, a Hollywood property owner with a comprehensive homeowner insurance cover can claim a cash-value compensation to rebuild a home destroyed during one of Florida’s frequent tropical hurricanes.

Damage to Homes and Items Within Them Due to Acts of Vandalism

Gangs of unruly teenagers can break into unoccupied homes and then embark on a destructive rampage that target appliances, fixtures, furniture, equipment, and various other items contained therein. Many of the teens involved in acts of vandalism turn out to be adrenaline junkies residing in the vicinity of the target house. This is how teenage vandals always seem to know when homeowners are away from their homes. Regardless of who perpetrates such acts, vandalism often leads to extensive property damage totaling to thousands of dollars. The possibility of vandalism is, therefore, a significant reason why Hollywood homeowners need insurance for secondary or vacation residences.

Get a Quote from Top-Rated Homeowners Insurance Companies in Hollywood, Florida

Homeowners Insurance Quotes in Hollywood FloridaAll the plausible scenarios mentioned above are why Hollywood homeowners should use Moran Insurance agents to secure a comprehensive home insurance cover. When armed with the right homeowner insurance policy, you receive adequate financial protection from all possible adverse outcomes on your property. If leasing out a secondary residence to long-term or short-term vacationers, we will help you get the best renters and landlord insurance, in addition to your homeowner coverage.

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