Home Insurance in Bal Harbour, Florida
The median home value in Bal Harbour is $1,823,500, 294% higher than the Miami-Dade County median.
The typical home in Bal Harbour was built around 1981. About 14% of homes were built before 1960, about 7 points below Miami-Dade County's 21%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
Housing in Bal Harbour breaks down to 5% single-family homes and 94% apartments in buildings with 5+ units.
About 20% of owner-occupied homes in Bal Harbour have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 58% of occupied homes in Bal Harbour are owner-occupied. The vacancy rate is 61%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
85% of homes in Bal Harbour are primarily heated with electricity.
FEMA rates Miami-Dade County's overall risk as Very High, led by hurricane (Very High). Miami-Dade County had 355,123 active NFIP flood policies as of September 2026. See the full Miami-Dade County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Florida is $2,779 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $1,823,500 |
|---|---|
| Median year built | 1981 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 20% |
| Top county hazard | Hurricane (Very High) |
| Active NFIP policies in Miami-Dade County | 355,123 |
| Home insurance premium | $2,779 - statewide average (NAIC, 2023 data) |
Nearby towns
- Bay Harbor Islands
- Surfside
- Indian Creek
- North Miami
- Sunny Isles Beach
- North Bay Village
- North Miami Beach
- Biscayne Park
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)