Average cost of condo insurance in Miami
The average cost of condo insurance (HO-6) in Miami is $1,173 per year, which is $98 per month, for a coverage level of $40,000 for personal property and liability protection of $100,000 with a $1,000 deductible.
However, the cost of condo insurance can vary depending on where you live in the city, the insurance company, and the coverage limits you choose. The highest average rate in Miami is $4,199, which is $3,865 more than the lowest average rate of $334.
| Average annual cost | $1,173 |
| Average per month cost | $98 |
| Highest average rate | $4,199 |
| Lowest average rate | $334 |
Cheapest condo insurance in Miami
The most affordable condo insurance company in Miami is Travelers, with an average yearly cost of $352. The second most affordable option is Nationwide, with an average annual rate of $590.
These rates are only averages, so it's a good idea to compare quotes from different companies to find the best option for your needs.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| Travelers | $352 | $29 |
| Nationwide | $590 | $49 |
| Security First Insurance | $607 | $51 |
| Heritage Insurance Holdings | $650 | $54 |
| Amer Integrity Ins Co of FL | $1,112 | $93 |
| Allstate | $1,262 | $105 |
| Universal Insurance Holding | $1,262 | $105 |
| Progressive | $1,265 | $105 |
| State Farm | $1,344 | $112 |
| Citizens Property Insurance | $1,819 | $152 |
| HCI Group Inc | $2,080 | $173 |
| FedNat Holding | $2,554 | $213 |
Condo insurance cost in Miami compared with the state average
Condo insurance costs an average of $1,173 per year in Miami. That's $401 more expensive than the state average of $772.
| City average cost | $1,173 |
| State average cost | $772 |
Condo insurance cost in Miami by coverage level
Many factors affect the cost of your HO-6 insurance. One is the area you live in, and another important factor is how much personal property coverage you choose. Generally, the higher your coverage limit, the more expensive your condo insurance will be.
For instance, the average annual rate for personal property coverage of $40,000 is $1,173 or $98 per month.
Condo insurance rates in Miami with $100,000 liability
The following table shows the cost of condo insurance for four coverage levels with a liability limit of $100,000 and $1,000 deductible.
| Coverage | Average annual rate | Average per month rate |
|---|---|---|
| $40,000 | $1,173 | $98 |
| $60,000 | $1,448 | $121 |
| $80,000 | $1,712 | $143 |
| $100,000 | $1,969 | $164 |
Condo insurance cost in Miami with $300,000 liability
The following table shows the cost of condo insurance for four coverage levels with a liability limit of $300,000 and $1,000 deductible.
| Coverage | Average annual rate | Average per month rate |
|---|---|---|
| $40,000 | $1,191 | $99 |
| $60,000 | $1,466 | $122 |
| $80,000 | $1,731 | $144 |
| $100,000 | $1,989 | $166 |
Methodology
Insurance.com compared condo insurance rates provided by Quadrant Information Services from 2023 for around 29,000 cities in all states and Washington D.C for multiple coverage levels. The content has been updated for 2025.
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