- Best homeowners insurance companies in Florida: State Farm
- Cheapest home insurance in Florida: Travelers
- How much is home insurance in Florida?
- Florida homeowners insurance rates by ZIP code
- Florida homeowners insurance rates by county
- Homeowners insurance in Florida by city
- Florida homeowners insurance rates by coverage levels
- Why is homeowners insurance going up in Florida?
- Methodology
- Compare homeowners insurance rates with other states
Best homeowners insurance companies in Florida: State Farm
State Farm is the best home insurance company in Florida thanks to low rates and a low complaint ratio with the National Association of Insurance Commissioners (NAIC). Travelers, Nationwide, Allstate, and Progressive are among the top car insurance companies in Florida.
The best home insurance companies in Florida are all names you’ll recognize. That means you can get coverage from a top company. Insurance.com ranked home insurers in Florida based on average rates, AM Best financial ratings, and complaint ratios. Remember that some companies only offer coverage in certain parts of Florida.
Cheapest home insurance in Florida: Travelers
Travelers is the cheapest home insurance company among those surveyed by Insurance.com. The average rate for the same amount of coverage varies significantly, which is why it pays to compare home insurance quotes.
Home insurance rates can vary a lot depending on the company you choose. The table below provides a look at average rates from home insurance companies in Florida, including national and local companies. Several dwelling coverage levels are displayed, all with liability levels of $300,000 and a $1,000 deductible.
Company Group | $200,000 | $300,000 | $400,000 | $600,000 | $1,000,000 |
---|---|---|---|---|---|
Travelers | $1,203 | $1,775 | $2,469 | $3,857 | $6,646 |
Security First Insurance | $2,865 | $3,720 | $4,587 | $7,547 | $11,847 |
Amer Integrity Ins Co of FL | $3,485 | $4,067 | $5,229 | $9,060 | $16,165 |
Heritage Insurance Holdings | $3,586 | $4,493 | $5,787 | $10,365 | $19,484 |
Progressive | $3,866 | $4,595 | $5,555 | $9,543 | $17,094 |
HCI Group Inc | $3,948 | $4,905 | $6,110 | $11,318 | $21,718 |
Nationwide | $3,985 | $5,623 | $7,192 | $10,180 | $16,103 |
State Farm | $4,039 | $4,826 | $5,925 | $9,515 | $15,505 |
Allstate | $4,582 | $4,946 | $5,882 | $10,117 | $17,011 |
FedNat Holding | $5,832 | $7,227 | $8,861 | $16,098 | $28,495 |
Universal Insurance Holding | $6,160 | $6,502 | $8,778 | $14,915 | $25,505 |
Citizens Property Insurance | $7,528 | $8,632 | $11,258 | $19,755 | $38,451 |
*Citizens is the state-run insurer of last resort.
How much is home insurance in Florida?
The average cost of home insurance in Florida is $4,419 a year, nearly $1,818 more than the national average of $2,601. These averages are based on the following coverage:
- $300,000 dwelling coverage
- $1,000 deductible
- $300,000 liability
- 2% hurricane deductible
These rates include a hurricane deductible. Without it, the average rate is $2,401. This seems like a bargain, but if the hurricane deductible isn't selected, hurricane damage to your home likely isn't covered. Make sure you read the fine print so you don't find yourself without coverage.
Florida faces a property insurance crisis, with rates rising fast, which makes finding affordable Florida homeowners insurance from a solid company harder, especially if you live near the coast.
S&P Global reported an average rate increase of 42.1% since 2022 in Florida. An Insurance.com survey found Florida to be the hardest hit by the insurance crisis, along with California.
“Shop around among several different carriers. While many companies have gone bankrupt or are refusing to write new policies in Florida, there are still companies making sure Florida homeowners are protected,” says Anthony Martin, CEO of Choice Mutual.
Florida homeowners insurance rates by ZIP code
ZIP codes in Pensacola and Siesta Key are among the most expensive places to insure a home in Florida. Tallahassee has the least expensive neighborhoods for home insurance costs. Insurance.com analyzed home insurance rates from major insurance companies in nearly every ZIP code in Florida.
For $300,000 dwelling coverage with a $1,000 deductible (2% hurricane) and $300,000 liability limits, the average rate of $4,683 in Miami Gardens ZIP code 33055 is the highest. Among the most expensive ZIP codes for home insurance in the state is 33178, $4,680 for Doral.
ZIP codes in Spring Hill are the cheapest, with ZIPs 34609 having an average annual rate of $1,554.
Enter your ZIP code in the search box in our tool below to see the average home insurance rate for your area, as well as the highest and lowest premium fielded from major insurers. Default rates are for coverage of $300,000 dwelling and liability and a $1,000 deductible (2% hurricane).
This will give you an idea of how much you can save by comparing home insurance rates for your home.
Home insurance calculator
Average home insurance rates in TexasMost & least expensive ZIP codes for homeowners insurance in Texas
Most expensive
ZIP Code | City | Highest Rate |
---|---|---|
77550 | Galveston | $10,164 |
77586 | El Lago | $9,906 |
77551 | Galveston | $9,536 |
77554 | Galveston | $9,358 |
Least expensive
ZIP Code | City | Lowest Rate |
---|---|---|
78559 | Iglesia Antigua | $1,956 |
78593 | Santa Rosa | $1,999 |
79915 | El Paso | $2,008 |
79905 | El Paso | $2,009 |
Florida homeowners insurance rates by county
Home insurance rates in Florida vary by county. Take a look at the average rates by county in Florida below to see how costs compare.
County | $300,000 with $1,000 deductible and $300,000 liability |
---|---|
Alachua | $3,188 |
Baker | $2,919 |
Bay | $4,853 |
Bradford | $2,966 |
Brevard | $5,240 |
Broward | $4,575 |
Calhoun | $3,329 |
Charlotte | $5,146 |
Citrus | $3,838 |
Clay | $3,264 |
Collier | $6,084 |
Columbia | $3,425 |
Dade | $4,118 |
DeSoto | $4,529 |
Dixie | $3,396 |
Duval | $3,581 |
Escambia | $5,533 |
Flagler | $4,519 |
Franklin | $6,109 |
Gadsden | $3,427 |
Gilchrist | $3,185 |
Glades | $4,841 |
Gulf | $5,099 |
Hamilton | $3,038 |
Hardee | $4,440 |
Hendry | $5,442 |
Hernando | $3,633 |
Highlands | $4,114 |
Hillsborough | $4,971 |
Holmes | $3,684 |
Indian River | $6,161 |
Jackson | $3,602 |
Jefferson | $3,429 |
Lafayette | $3,143 |
Lake | $3,870 |
Lee | $5,157 |
Leon | $2,950 |
Levy | $3,842 |
Liberty | $3,324 |
Madison | $2,985 |
Manatee | $5,302 |
Marion | $3,315 |
Martin | $5,756 |
Miami-Dade | $4,695 |
Monroe | $5,426 |
Nassau | $3,583 |
Okaloosa | $5,404 |
Okeechobee | $5,038 |
Orange | $4,096 |
Osceola | $4,409 |
Palm Beach | $6,061 |
Pasco | $4,336 |
Pinellas | $5,564 |
Polk | $4,632 |
Putnam | $3,337 |
Santa Rosa | $5,385 |
Sarasota | $5,485 |
Seminole | $4,416 |
St. Johns | $3,509 |
St. Lucie | $5,446 |
Sumter | $3,598 |
Suwannee | $3,128 |
Taylor | $3,532 |
Union | $3,009 |
Volusia | $4,800 |
Wakulla | $3,994 |
Walton | $4,421 |
Washington | $3,461 |
Homeowners insurance in Florida by city
Tallahassee has the cheapest homeowners insurance among the state's largest cities, with an average rate of $2,650 per year, which is $220 per month. Rates below are shown with a 2% hurricane deductible.
City | Avg annual premium | Avg annual premium |
---|---|---|
Fort Lauderdale | $395 | $4,740 |
Gainesville | $266 | $3,190 |
Hialeah | $406 | $4,875 |
Jacksonville | $299 | $3,593 |
Miami | $384 | $4,607 |
Orlando | $339 | $4,062 |
Port St. Lucie | $463 | $5,554 |
Tallahassee | $246 | $2,950 |
Tampa | $432 | $5,184 |
Florida homeowners insurance rates by coverage levels
Below are average rates for homeowners insurance in Florida by coverage level, including coverage with and without a hurricane deductible. Deductibles are $1,000 for all perils and 2% for hurricanes.
First, rates without a hurricane deductible. Please note that these rates may not include any coverage for hurricane damage.
Rates by coverage level, no hurricane deductible
Coverage level | Average rate |
---|---|
200000 with 1000 Deductible and 100000 Liability | $1,714 |
200000 with 1000 Deductible and 300000 Liability | $1,732 |
300000 with 1000 Deductible and 100000 Liability | $2,385 |
300000 with 1000 Deductible and 300000 Liability | $2,401 |
400000 with 1000 Deductible and 100000 Liability | $3,097 |
400000 with 1000 Deductible and 300000 Liability | $3,116 |
600000 with 1000 Deductible and 100000 Liability | $4,568 |
600000 with 1000 Deductible and 300000 Liability | $4,587 |
1000000 with 1000 Deductible and 100000 Liability | $7,456 |
1000000 with 1000 Deductible and 300000 Liability | $7,476 |
Rates by coverage level, 2% hurricane deductible
Coverage level | Average rate |
---|---|
200000 with 1000 Deductible and 100000 Liability | $3,754 |
200000 with 1000 Deductible and 300000 Liability | $3,773 |
300000 with 1000 Deductible and 100000 Liability | $4,405 |
300000 with 1000 Deductible and 300000 Liability | $4,419 |
400000 with 1000 Deductible and 100000 Liability | $5,520 |
400000 with 1000 Deductible and 300000 Liability | $5,516 |
600000 with 1000 Deductible and 100000 Liability | $9,617 |
600000 with 1000 Deductible and 300000 Liability | $9,637 |
1000000 with 1000 Deductible and 100000 Liability | $17,142 |
1000000 with 1000 Deductible and 300000 Liability | $17,162 |
Why is homeowners insurance going up in Florida?
Insurance companies cite the following reasons why homeowners insurance is so expensive in Florida:
- High rates for reinsurance, which is insurance that backs up insurance companies
- Water-leak damage claims from non-hurricane causes
- Claims from recent hurricanes are still being filed, as homeowners have a three-year window to do so.
“Two other primary factors are driving the excessive rate increases Florida homeowners are experiencing: rapid roof replacement fraud schemes and runaway litigation,” says Friedlander.
“Unscrupulous roofers tell homeowners there was recent storm damage in the area and are replacing roofs for free, even when they don’t qualify for insurance coverage. The insurer rejects the claim because it’s not a legitimate insured loss [and] the contractor partners with an unscrupulous attorney to file a lawsuit against the insurer. Even if the case never goes to court, the related expenses are exorbitant for the insurer.”
Friedlander explains that Florida is the country's most volatile private insurance marketplace and is on a trajectory toward collapse due to roof replacement fraud schemes and runaway litigation, resulting in huge losses for insurance companies.
“More than 100,000 property claim lawsuits were filed against Florida home insurers in 2021, equating to more than 80% of property claim lawsuits filed in the United States. In fact, no other state has more than 900 property claim lawsuits filed last year,” says Friedlander.
Methodology
Insurance.com, in 2023, commissioned Quadrant Information Systems to field home insurance rates from major insurers in each state for nearly all ZIP codes in the country for 10 coverage levels based on various dwelling and deductible limits. The homeowner profile is a 35-year-old married applicant with an excellent insurance score; new business HO-3 policy for a house built in 2000 with frame construction and composition roof. Other Structures: 10%. Loss of Use defaulted: 10%. Personal Property defaulted: 50%. Guest Medical limit: $5,000. Content is updated for 2024.
Compare homeowners insurance rates with other states
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