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If you own a condo, it is important to have the best condo insurance. This type of insurance will protect your home and belongings in case of a disaster or other event. In addition to protecting your belongings from damage or destruction, condo insurance also provides liability coverage that could provide protection in the event of an accident.

Condo insurance is a great way to protect your investment from an unexpected event. It covers your condo's interior structure, belongings that are not covered by your homeowners association (HOA) insurance policy.

This guide will help you know about the best condo insurance companies in Florida, also find out the least and most expensive zip codes for Florida homeowners. Use this resource to find the most affordable condo insurance company in Florida under your budget.

KEY TAKEAWAYS
  • Condo owners in Florida pay an average of $1348 per year or $112 per month in condo(HO6) insurance.
  • Phoenix is the cheapest condo insurance company in Florida at only $409 per year.

Best condo insurance companies in Florida

In Florida, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction rating of all the major insurers across Florida. Below are the best condo insurance companies in Florida based on Insurance.com's analysis.

  • State Farm
  • Nationwide

Compare best condo insurance companies in Florida

State Farm is our top pick for the best condo insurance company in Florida. It has earned 835 scores out of 1000 from J.D. Power, the highest among the carriers surveyed. Apart from State Farm, Nationwide can be your best bet for condo insurance in Florida. It has received 812 scores out of 1000 from J.D. Power and an A+ rating from AM Best.

Buying condo insurance is different from getting a standard homeowners insurance policy. Condo insurance and single-family homeowners insurance seem the same thing. Just like a traditional home insurance policy, condominium insurance covers-

  • Personal property coverage- This covers your personal belongings such as furniture, electronics, clothing, and jewelry.
  • Liability protection- This provides protection if someone is hurt or injured on your property, or you damage someone else's property.
  • Dwelling coverage- It protects the building itself and any structures in it.
CompanyJ.D. Power scoreAM Best rating
State Farm835A++
Nationwide812A+

Average cost of condo insurance in Florida

The average cost of condo insurance in Florida is $1,348 per year or $112 per month for $40,000 as personal property coverage with a $1,000 deductible and $100,000 in liability protection. However, rates can vary, based on the insurance company you choose and the zip code you live in.

If you are looking to buy a condominium, condo insurance is an important consideration. Not only does it provide coverage for common areas and appliances in the building but also provides protection for personal belongings and the interior of the unit against damage caused by fire or theft, vandalism, or natural disasters.

Investing in a condo is one of the largest investments you'll make in your lifetime. Therefore, it makes sense to protect this investment with condo insurance.

Average annual premiumAverage monthly premium
$1,348$112

CONDO INSURANCE CALCULATOR

Average condo insurance rates in FLORIDA

$60,000
$1,000
$100,000
33135 - Miami
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $1,835

HIGHEST RATE: $3,511 LOWEST RATE: $930

Most & least expensive zip codes for condo insurance in Florida

Most Expensive

Zip CodeCityHighest Rate
33140Miami Beach$2,615
33141Miami Beach$2,615
34949Fort Pierce$2,568
33001Long Key$2,446

Least Expensive

Zip CodeCityLowest Rate
32301Tallahassee$660
32306Tallahassee$660
32317Tallahassee$660
32309Tallahassee$660

Condo insurance rates by companies in Florida

Based on Insurance.com's rate analysis, Phoenix is the cheapest condo insurance company among the carriers surveyed. Its average annual premium is $409---$939 less than the state average. Apart from Phoenix, First Floridian and Castle Key are the other two cheap insurance companies in Florida for condo insurance.

Condo insurance rates can vary based on where you live, how much liability protection you need and how comprehensive your condo insurance coverage is. In order to find the perfect condo insurance policy, it's important that you get a number of quotes and compare rates. This is one of the best ways to get a great condo insurance policy in Florida.

Below is the list of best condo insurance providers and their average annual premium for Florida residents.

CompanyAverage annual premium
Phoenix$409
First Floridian$586
Castle Key$639
Heritage Insurance$802
Nationwide$990
State Farm$1,543
Universal$1,863
Citizens$3,953

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