- Best condo insurance companies in Florida
- Average condo insurance cost in Florida
- Condo insurance rates in Florida by company and coverage level
- Condo insurance rates by company in Florida
- Compare condo insurance rates by city in Florida
- Methodology
- FAQ
- Compare Florida condo insurance rates with other states
Best condo insurance companies in Florida
Based on our analysis, Nationwide is the best condo insurance company in Florida among many options. Our insurance experts evaluated pricing and ratings from trusted sources, including the National Association of Insurance Commissioners (NAIC) and AM Best.
Here are the best condo insurance companies in Florida, based on our research.
| Company | Annual annual premium | AM Best | NAIC | Insurance.com rating |
|---|---|---|---|---|
| Nationwide | $620 | A | 1.34 | |
| Progressive | $1,182 | A+ | 1.5 | |
| State Farm | $892 | A- | 1.15 | |
| Universal Insurance Holding | $1,598 | A- | 1.84 | |
| Allstate | $2,559 | A+ | 1.26 |
Average condo insurance cost in Florida
The average cost of condo insurance in Florida is $1,409 per year, or $117 per month. This is based on a policy with $60,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible. Your actual annual premium will vary depending on:
- Where you live
- Coverage limits and deductible
- Age of the building and construction materials
- Your claims history and credit score
To secure the lowest rate, compare quotes from multiple insurance providers and choose the policy that best meets your needs.
| Average annual premium | $1,409 |
| Average monthly premium | $117 |
Condo insurance rates in Florida by company and coverage level
Security First Insurance provides the lowest condo insurance rates in Florida for policies with limits of $60,000 in personal property coverage and $300,000 in liability coverage with a $1,000 deductible.
The second most affordable option is Nationwide, with an annual rate of $620. However, your rates will vary based on the coverage level you select.
The table below presents condo insurance rates from top companies at various coverage levels.
| Company | $40,000 contents/$100,000 liability | $40,000 contents/$300,000 liability | $60,000 contents/$100,000 liability | $60,000 contents/$300,000 liability | $80,000 contents/$100,000 liability | $80,000 contents/$300,000 liability | $100,000 contents/$100,000 liability | $100,000 contents/$300,000 liability |
|---|---|---|---|---|---|---|---|---|
| Security First Insurance | $303 | $315 | $447 | $460 | $592 | $604 | $736 | $748 |
| Nationwide | $571 | $577 | $614 | $620 | $654 | $660 | $705 | $711 |
| State Farm | $718 | $731 | $880 | $892 | $1,011 | $1,024 | $1,135 | $1,148 |
| HCI Group Inc | $926 | $936 | $1,129 | $1,138 | $1,331 | $1,341 | $1,539 | $1,548 |
| Progressive | $964 | $973 | $1,172 | $1,182 | $1,381 | $1,391 | $1,590 | $1,599 |
| Heritage Insurance Holdings | $925 | $957 | $1,294 | $1,340 | $1,663 | $1,722 | $2,041 | $2,114 |
| Universal Insurance Holding | $1,281 | $1,289 | $1,594 | $1,603 | $1,908 | $1,916 | $2,222 | $2,230 |
| Allstate | $1,807 | $1,823 | $2,165 | $2,181 | $2,470 | $2,486 | $2,740 | $2,756 |
| Citizens Property Insurance | $2,664 | $2,664 | $3,261 | $3,261 | $3,856 | $3,856 | $4,467 | $4,467 |
Condo insurance rates by company in Florida
The most affordable company is Security First Insurance, with Nationwide and State Farm ranking as the second and third cheapest. Since condo insurance rates in Florida vary by company, it is important to compare quotes to find the best deal.
The table below lists the condo insurance rates from major companies in Florida.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| Security First Insurance | $460 | $38 |
| Nationwide | $620 | $52 |
| State Farm | $892 | $74 |
| HCI Group Inc | $1,138 | $95 |
| Progressive | $1,182 | $98 |
| Heritage Insurance Holdings | $1,340 | $112 |
| Universal Insurance Holding | $1,603 | $134 |
| Allstate | $2,181 | $182 |
| Citizens Property Insurance | $3,261 | $272 |
Compare condo insurance rates by city in Florida
Condo insurance rates vary by city. Factors like weather, crime rates and property values all play a role in pricing. To find the cheapest and best condo insurance in your city in Florida, consider these factors and compare quotes from different insurance companies.
City Annual insurance premium
Methodology
Insurance.com compared condo insurance rates provided by Quadrant Information Services across all 50 states and Washington, D.C.
Average condo insurance rates are based on:
- $60,000 in personal property coverage
- $300,000 in liability coverage
- $1,000 deductible
- Good credit
Rates were also fielded at varying personal property and liability coverage levels for comparison.
FAQ
Is condo insurance required in Florida?
No, condo insurance is not require by law in Florida, but your mortgage company will require it.
What does condo insurance typically cover in Florida?
Condo insurance covers your personal property, the interior of your unit, loss of use and personal liability.
How can I lower my condo insurance premium in Florida?
To lower your rates, shop around, ask about discounts and bundle your condo and auto insurance.
