Homeowners Insurance in Florida

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How to find affordable homeowners insurance in Florida


Homeowners insurance may be optional, but it's important. It helps to protect your belongings in the event your house is damaged. A homeowners insurance policy defends your home and your items in the event of a variety of calamities, such as wind damage, fire, theft, vandalism, and more.

Unlike car insurance policies, homeowners insurance isn't controlled by state legislation. Even so, major gaps exist in home insurance rates on a state-by-state basis. Policy prices in states may vary based on the total number and value of homeowners claims filed in that particular state, and depend on the value of the belongings and structures covered by the policy.

The easiest way to get an affordable homeowners insurance policy in Florida is to get quotes from as many insurers as possible. Learn more about typical homeowners insurance rates in Florida by referencing the below data. Your rates may vary, depending on your coverage limits.


Florida home insurance:
  1. Rates by company
  2. Homeowners rates by city
  3. Rates by coverage amount
  4. Rates by deductible amount
  5. Home-and-auto bundling discounts
  6. FAQs

Homeowners insurance prices in Florida by company

Prices for home insurance in Florida vary depending on which insurer you use. Security First offers the best deal on home insurance in Florida, at just $535 yearly. This compares favorably to the state mean cost of $1,450, providing a $915 discount on average policy costs statewide.

Start shopping for a home insurance policy by reviewing the most affordable Florida home insurance carriers, listed below.


HOME INSURANCE RATES IN FLORIDA: BY CARRIER
Insurance CompanyAverage Yearly Rate in Florida
Security First$535
State Farm$740
ASI Preferred$1,333
Castle Key$1,351
Federal$1,482

Florida homeowners insurance costs: by city

Not all Florida cities have the same homeowners insurance rates. Prices may depend on locally specific variables such as the number of local claims filed, lending your ZIP code plenty of weight in deciding how much you pay.

The most affordable home insurance in Florida is found in Hernando Beach. An average home insurance policy in Hernando Beach costs just $1,038 each year — $412 less than the statewide average. The below cities have the most affordable home insurance in Florida.


CHEAPEST HOME INSURANCE CITIES IN FLORIDA
CityAverage 12-Month Home Insurance Rate
Hernando Beach$1,038
Brookridge$1,043
Brooksville$1,047
Spring Hill$1,055
Flagler Beach$1,069

Home insurance prices in Florida by coverage levels

Your chosen amount of homeowners coverage has an impact on the insurance premiums you pay . In Florida, carrying $100K dwelling coverage costs an average of $813 per year, while carrying additional coverage up to $400K costs $2,699/year.


HOMEOWNERS INSURANCE RATES IN FLORIDA — COMMON COVERAGE AMOUNTS
Coverage LevelAverage Annual Cost
$100,000 Dwelling$813
$200,000 Dwelling$1,450
$250,000 Dwelling$1,720
$400,000 Dwelling$2,699

Homeowners insurance deductibles in Florida

Florida homeowners have numerous choices to make when buying a homeowners policy, including the amount of their deductible. The deductible is the dollar amount that the insured must contribute toward a covered loss. Where you choose to set your homeowners deductible is directly related to how much you will pay for insurance.

When choosing a deductible, keep in mind that the higher your deductible is, the lower your insurance rates will be. Therefore, it might make sense to set a higher deductible if your are hoping to lock in lower insurance rates. Keep in mind that your deductible should only be set as high as you can reasonably pay if you suffer a loss.

The following chart reveals the typical premiums associated with deductibles offered by most home insurers.


HOME INSURANCE COSTS BY DEDUCTIBLE IN FLORIDA
Deductible TierAverage Annual Homeowners Insurance Rate
$500$1,863
$1,000$1,720
$1,500$1,702
$2,000$1,523
$5,000$1,466

Home and auto insurance bundles in Florida

If you want to save, consider carrying your home and auto policies with the same insurance company. Bundling auto and homeowners insurance in Florida can save you a substantial sum each month on your auto insurance policy. In fact, bundling policies in Florida leads to a yearly discount of $85.


HOME AND AUTO INSURANCE BUNDLING DISCOUNTS IN FLORIDA
Avg. 12-Month Auto Insurance Rate (No Bundle)Avg. Annual Auto Insurance Rate (Bundle)Annual Bundle SavingsBundle Savings %
$1,995$1,910$854%

A great way to save is to bundle your auto and homeowners insurance policies. Start shopping today!


Seeking info on home insurance in a specific city? Check out our analysis of populous Florida cities:

  1. Hialeah
  2. Jacksonville
  3. Miami
  4. Orlando
  5. St. Petersburg
  6. Tampa

Florida homeowners insurance FAQs


Does USAA insure homes in Florida?

If you're a military member or family, you're able to buy home insurance from USAA.

Why is home insurance so expensive in Florida?

Given the propensity for extreme weather events, Florida is a very risk state to sell insurance in. As such, many providers will charge higher rates to offset the risk of insuring properties ther.e

How long does a home insurance claim take in Florida?

This varies by your company and specifics of the claim.


Tornado insurance in Florida

Tornadoes can hit with very little warning. There isn't much one can do to get ready and the effects are usually catastrophic. Therefore, it's vital to protect your home against tornado damage in Florida, which averages 57 tornado events per year.*

Damage from tornadoes is typically caused by wind, so make sure your current homeowners policy includes windstorm protection, which is standard in most homeowners policies.

Wind protection provides coverage to a building's exterior and overall structure. Depending on your policy type, you may find that interior damage is only covered when it occurs as caused by exterior damage, like a tree branch breaking a window. Detached structures are also covered, normally about 10% of the home’s insured amount. It's important to remember that some losses brought about by the storm may not be covered. For instance, if the storm that produced the tornado also causes flooding that damages your home, your home won't be covered unless you've specifically purchased flood insurance.

*Source: NOAA'S National Weather Service (https://www.spc.noaa.gov/gis/svrgis/)


Hurricane insurance in Florida

Because hurricanes can cause calamitous damage and destroy properties altogether, insurance companies are reluctant to assume the full risk of hurricanes as a whole. If you live in Florida, you could face increased risk of suffering hurricane damage. In fact, 351, 093 single-family residences are at extreme risk of hurricane damage in Florida.*

If you own a home near the coast, it's essential to confirm the details of your homeowners insurance policy since usually a basic policy won't be enough to cover hurricane damage — you would need to reinforce your policy with windstorm and flood insurance, which would work together to cover the damages. In some states, your insurer may make it compulsory to have a separate hurricane deductible if you live somewhere that's at high risk for hurricanes.

*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-hurricanes)

HURRICANE DEDUCTIBLE RATES IN FLORIDA
CompanyAverage Annual Rate w/ Hurricane Endorsement
State Farm$2,005
American Strategic$2,650
Peoples Trust$2,768
Security First$2,842
United$2,867

Does homeowners insurance cover flooding in Florida?

Flood damage — whether a byproduct of a downpour or a hurricane —is not covered by homeowners insurance policies. To insure your home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer.

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

  • $250,000 for your home’s structure
  • $100,000 for your personal property

If the value of your personal property and home exceed these limits, consider purchasing a policy from a private company for additional protection.

Flood insurance is a necessity for many in Florida, which faced $17, 024, 301 in flood insurance claims in 2016, according to the Federal Emergency Management Agency.


Ava Lynch LinkedIn

Ava worked in the insurance industry as an agent for four-plus years. Currently providing insights and analysis as one of The Zebra’s resident property insurance experts, Ava has been featured in publications such as U.S. News & World Report, GasBuddy, and Yahoo! Finance.