Florida Homeowners Insurance

Shopping for homeowners insurance shouldn't be complicated. Compare rates by city and company below.

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How to get cheap 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. Homeowners insurance protects your house and property in the event of a number of misfortunes, including wind damage, fire, theft, vandalism, and more.

Unlike car insurance, home insurance is not priced based on state-level laws. That said, major differences exist in home insurance costs on a state-by-state basis. Policy costs in US states differ depending on the total number and value of homeowners policy claims filed statewide, and also on the value of the dwelling and belongings being insured.

The best way to acquire an affordable homeowners insurance policy in Florida is to compare rates and consider policies from as many insurance companies as you can. Learn more about average home insurance rates in Florida by referencing the below data. Individual rates may vary depending on coverage options.

 

Homeowners insurance in Florida:
  1. Rates by company
  2. Rates by city
  3. Rates by coverage amount
  4. Rates by deductible level
  5. Bundling
  6. FAQs

 

Homeowners insurance prices in Florida by carrier

Prices for home insurance in Florida differ depending on the insurance company you select. Security First provides the most affordable home insurance in Florida, at just $535 per year. This compares favorably to the state's average cost of $2,133, providing a $1,598 discount on the state's average rate.

Insurance provider Kin, which specializes in providing insurance for states considered higher-risk, numbers among other insurers offering coverage in Florida. Kin offers both homeowners and flood insurance for Florida homeowners.

Start shopping for a home insurance policy by viewing average rates from top Florida carriers, listed below.

 

CHEAPEST HOME INSURANCE COMPANIES IN FLORIDA
CompanyAverage Annual Rate in Florida
Security First$535
State Farm$740
ASI Preferred$1,333
Castle Key$1,351
Federal$1,482
Tower Hill$1,505

 

Florida home insurance costs by city

Not all Florida cities have the same home insurance rates. Policies are often priced on locally specific variables such as the number of homeowners claims filed nearby, meaning your specific ZIP code impact how much you pay.

The best homeowners insurance in Florida is found in Spring Hill. A typical home insurance policy in Spring Hill costs just $1,194 per year — $939 less than the statewide average. Reference the below table to see the cheapest cities in Florida for home insurance.

 

CHEAPEST HOME INSURANCE CITIES IN FLORIDA
CityAverage Annual Home Insurance Rate
Spring Hill$1,194
Gainesville$1,246
Tallahassee$1,292
Jacksonville$1,488
Palm Bay$1,565

Looking for information on homeowners insurance in a particular city? Check out our breakdown of major Florida cities:

 

Home insurance costs in Florida by coverage level

The level of homeowners coverage you select has an impact on your insurance rates. 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 LIMITS
Coverage LevelAverage Annual Premium
$100,000 Dwelling$813
$200,000 Dwelling$1,450
$250,000 Dwelling$1,720
$400,000 Dwelling$2,699

 

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Homeowners insurance deductibles in Florida

Homeowners face a number of choices when deciding on a home insurance policy, including the amount of their deductible. The deductible is the amount the insured is responsible for paying toward a covered loss. Where you choose to set your homeowners deductible corresponds directly to how much you pay in insurance premiums.

In short, having a higher deductible means cheaper insurance rates. Therefore, it might make sense to set a higher deductible if you aim to pay lower insurance rates. It's worth noting that a homeowners deductible should only be as high as you can reasonably pay in the event of a loss.

The following table reveals the typical rates associated with deductibles offered by most home insurers.

 

HOME INSURANCE RATES BY DEDUCTIBLE IN FLORIDA
Deductible LevelAverage Annual Home Insurance Rate
$500$1,863
$1,000$1,720
$1,500$1,702
$2,000$1,523
$5,000$1,466

 

Money-saving tip: bundle home and auto insurance in Florida

If you want to save on insurance, consider holding your car and homeowners policies with the same insurance company. Bundling home and auto insurance in Florida can save you a substantial sum each month on your auto insurance bill. Bundling policies in Florida leads to yearly savings of $85.

 

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

 

A great way to save is to bundle your home and auto insurance policies. Get started today!

 

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 risky state to sell insurance in. As such, many providers will charge higher rates to offset the risk of insuring properties there.

How long does a home insurance claim take in Florida?

This varies by company and the 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 an increased risk of suffering hurricane damage. In fact, 351,093 single-family residences are at elevated risk of hurricane damage in Florida.*

If you own a home near the coast, it's essential to confirm the details of your home 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. In Florida, homeowners can expect to pay an average of $3,753 per year for homeowners insurance with a 2% hurricane deductible. 

While “hurricane insurance” doesn’t actually exist as a standalone product, most homeowners policies will typically cover most perils associated with the storm. Homeowners in regions prone to hurricanes and tropical storms could face what is known as a "windstorm" or "hurricane" deductible. This type of deductible is only triggered when certain severe weather conditions are present. Also, it is oftentimes much higher than an ordinary deductible and is usually a fixed percentage of the value of your home. Be aware that flooding is never covered on a standard policy and needs to be added on through — in most cases — the National Flood Insurance Program.

Below are some affordable choices for hurricane coverage in Florida. Please treat the following rates as mere estimates. For rates specific to your property, it's best to reach out to these companies directly.

 

AFFORDABLE HOMEOWNERS HURRICANE COVERAGE IN FLORIDA
Insurance CompanyAverage Annual Hurricane Insurance Rate
State Farm$1,797
Security First$2,206
American Strategic$2,338
United$2,507
Peoples Trust$2,666

 

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

 

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 cover 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 exceeds 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

Based in Austin, TX, Ava has been in the insurance industry as a licensed agent for 4-plus years. Ava is currently one of The Zebra’s resident property insurance experts and has been featured in publications such as US News Report, GasBuddy, and Yahoo! Finance.