Homeowners insurance in Fort Lauderdale, FL

How much is home insurance in Fort Lauderdale, FL?

The average cost of homeowners insurance in Fort Lauderdale varies depending on the coverage level you choose. Homeowners insurance costs $8,843 per year for dwelling coverage of $200,000 and $11,881 for $300,000 of dwelling coverage.

Below are the average annual and monthly Fort Lauderdale home insurance rates for different amounts of dwelling coverage.

Coverage level	Average annual rate	Average monthly rate
$200,000	$8,843	$737
$300,000	$11,881	$990
$400,000	$15,515	$1,293
$600,000	$21,738	$1,811
$1,000,000	$29,872	$2,489

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Note: For the above rates, the deductible amount is $1,000 and liability protection is $100,000.

How do deductibles affect home insurance rates in Fort Lauderdale?

Home insurance rates in Fort Lauderdale vary based on the deductible you choose. If you pick a higher deductible, your monthly insurance premium will be lower, while a lower deductible, means lower premiums because the insurance company will pay more if you file a claim, and the odds of you filing a smaller claim are higher.

The table below lists the home insurance rates by deductible in Fort Lauderdale.

Deductible	Company	Average annual premium	Average monthly premium
$500	Nationwide	$7,062	$589
$500	Security First Insurance	$7,990	$666
$500	Citizens Property Insurance	$8,772	$731
$500	HCI Group Inc	$12,011	$1,001
$500	Progressive	$17,562	$1,464
$500	Heritage Insurance Holdings	$27,040	$2,253
$500	Universal Insurance Holding	$29,081	$2,423
$500	Allstate	$33,167	$2,764
$2,000	State Farm	$2,135	$178
$2,000	Nationwide	$6,364	$530
$2,000	Security First Insurance	$7,831	$653
$2,000	Citizens Property Insurance	$8,607	$717
$2,000	HCI Group Inc	$9,540	$795
$2,000	Progressive	$16,286	$1,357
$2,000	Heritage Insurance Holdings	$20,494	$1,708
$2,000	Universal Insurance Holding	$23,643	$1,970
$2,500	State Farm	$2,083	$174
$2,500	Nationwide	$6,364	$530
$2,500	Security First Insurance	$7,831	$653
$2,500	Citizens Property Insurance	$8,607	$717
$2,500	HCI Group Inc	$9,540	$795
$2,500	Progressive	$16,286	$1,357
$2,500	Heritage Insurance Holdings	$20,494	$1,708
$2,500	Universal Insurance Holding	$23,643	$1,970
$3,000	State Farm	$2,083	$174
$3,000	Nationwide	$6,364	$530
$3,000	Security First Insurance	$7,831	$653
$3,000	Citizens Property Insurance	$8,607	$717
$3,000	HCI Group Inc	$9,540	$795
$3,000	Progressive	$16,286	$1,357
$3,000	Heritage Insurance Holdings	$20,494	$1,708
$3,000	Universal Insurance Holding	$23,643	$1,970
$4,000	State Farm	$2,042	$170
$4,000	Nationwide	$5,794	$483
$4,000	Security First Insurance	$7,736	$645
$4,000	Citizens Property Insurance	$8,607	$717
$4,000	HCI Group Inc	$9,540	$795
$4,000	Progressive	$14,685	$1,224
$4,000	Heritage Insurance Holdings	$20,494	$1,708
$4,000	Universal Insurance Holding	$23,643	$1,970
$5,000	State Farm	$2,000	$167
$5,000	Nationwide	$5,794	$483
$5,000	Security First Insurance	$7,736	$645
$5,000	Citizens Property Insurance	$8,607	$717
$5,000	HCI Group Inc	$9,540	$795
$5,000	Progressive	$14,685	$1,224
$5,000	Heritage Insurance Holdings	$20,494	$1,708
$5,000	Universal Insurance Holding	$23,643	$1,970

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Who has the cheapest homeowners insurance in Fort Lauderdale?

According to Insurance.com analysis, State Farm is the most affordable home insurance provider in Fort Lauderdale, with an average yearly cost of $3,409.

Price is a big factor when choosing home insurance, and costs in Fort Lauderdale can vary a lot between companies. While saving money is important, it’s also a good idea to consider each company’s reputation before making a decision.

The table below lists the cheapest home insurance companies in Fort Lauderdale.

Company	Average annual cost
State Farm	$3,409
Security First Insurance	$5,839
Nationwide	$6,835
Citizens Property Insurance	$8,308
HCI Group Inc	$11,273
Progressive	$13,650
Heritage Insurance Holdings	$17,546
Universal Insurance Holding	$18,420
Allstate	$30,754

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How does credit affect homeowners insurance in Fort Lauderdale?

The average home insurance cost for homeowners with an excellent credit score is $11,108; that’s $3,016 less expensive than the average cost of the same insurance for policyholders with a poor credit score. The table below shows the average annual insurance cost for homeowners with different credit levels.

Credit score	Average annual cost
Excellent	$11,108
Fair	$12,713
Good	$11,881
Poor	$14,124

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How can you save on homeowners insurance in Fort Lauderdale?

If you’re looking to save on your homeowners insurance, the best way is comparing quotes from multiple insurers. Homeowners insurance companies offer a variety of different discounts to help you lower insurance costs. Here are a few common ones.

Home and auto bundle discount (multi-policy)

One of the easiest ways to get cheaper home insurance in Fort Lauderdale is the multi-policy discount, also known as bundling. If you purchase your home and auto insurance from the same company, you can save an average of $232 a year.

"It’s not always the better option, but more times than not it is because if you bundle usually, you get a 10-20% discount on both policies," says Josiah Hatch, owner and CEO at Bender Hatch Insurance in Boston.

Loyalty discount

Staying with the same insurance company can earn you a loyalty discount, which could save you around $76 annually on your home insurance in Fort Lauderdale.

Security equipment discounts

Insurance companies offer discounts to homeowners for installing safety and security equipment, like a fire alarm or burglar alarm. If you install a fire alarm at your home, you can get a discount of $340 a year on average from your insurer.