Home Insurance in Florida
Compare Progressive, Allstate, Liberty Mutual and Nationwide (+ other top companies) to find the best home insurance in Florida.
Homeowners insurance in Florida: what you need to know
The average cost for homeowners insurance in Florida is per year or $153 per month.[1] Relative to the rest of the US at $1,515, Floridians' home insurance rates are 21% more expensive than average per year. Our data shows that Travelers has the lowest rates in 2024 at $682.
Floridians looking for an insurer with a strong reputation instead of just the lowest price should look to Travelers and People's Trust Insurance as affordable options. However, know that home insurance companies in Florida can be very selective due to risk aversion. We've compiled the most important things Florida homeowners should know about their insurance, including information about natural disasters, common coverage options, and state-specific regulations.
- Travelers is the cheapest company in Florida — $682 per year.
- This is very favorable compared to the state's average rate of $1,405, giving a $723 discount.
- Find the cheapest home insurance & best discounts in Florida ↓
- The most popular company for homeowners insurance in Florida is Citizens Property Insurance.
- As the insurer-of-last-resort, customers are encouraged to seek out coverage from other insurance companies first.
- Read more about the best home insurance companies in our guide below ↓
- With savings of around $86 for a bundled home insurance policy, Travelers comes out on top for home insurance bundling.
- Read more about the best home insurance bundling in our guide below ↓
Coverage against natural disasters in Florida
FEMA, through the National Flood Insurance Flood Program, is the major insurer for hurricane and other flooding areas in Florida.
Hail and windstorms may be covered by most insurance companies, but be certain to double-check your policy and be aware of any additional deductibles that may be required.
Read more about how natural disasters in Florida can impact your homeowners insurance below ↓
What are the cheapest home insurance companies in Florida?
Since 2019, Florida's home insurance rates have seen a 16% climb, mainly due to the hurricanes and other natural events that have hit the state.[1] While rates vary by location and property, our Dynamic Insurance Rating Tool helps us access and analyze annual rate filings, allowing us to determine which insurer typically offers the most affordable homeowners insurance in Florida.
Home insurance rates in Florida vary greatly depending on which insurer you use. In Florida, Travelers offers the best deal on home insurance at just $682 yearly. This compares favorably to Florida's average cost of $1,450 and is even significantly lower than the cheapest home insurance companies in the country.
Based on our internal data, 42% of users in Florida carry between $200k-$300k of dwelling coverage. Have a look at the cheapest home insurance in this range in the table below.[2]
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Lowest premiums in Florida
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Great financial outlook
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May be selective in who can get covered
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Below average customer satisfaction rating from JD Power
Start searching for cheap homeowners insurance by checking out the most affordable Florida companies listed below. Then, see our list of home insurance carriers consumers rated the best for customer satisfaction.
Source: The Zebra
The Zebra’s Dynamic Insurance Rating Tool data methodology
The Zebra’s Dynamic Insurance Rating Tool for home and auto insurance rates utilizes the latest ZIP code-level rate filings from across the U.S., sourced from Quadrant Information Services and S&P Global. These filings, typically updated annually or biennially by insurers, are verified through Quadrant’s QA process and then integrated into The Zebra’s estimator.
The displayed rates are based on a dynamic home and auto profile designed to reflect the content of the page. This profile is tailored to match specific factors such as age, location, and coverage level, which are adjusted based on the page content to show how these variables can impact premiums.
For a comprehensive understanding, see our detailed methodology.
What are the cheapest homeowners companies in Florida for new homes
The year your house was built plays a critical role in your homeowners insurance rates. Older homes, especially those built in earlier periods and possibly using outdated construction techniques or plumbing, can often be more costly to insure. This is due to the increased risks associated with materials and methods that no longer meet current standards.
Our data shows that in Florida, insuring a newly constructed home in 2024 is substantially less expensive than covering a home built before 2011. Below is a list of the most affordable insurers in Florida for homes that are newly built.
People's Trust is the company that is cheapest for new-build homes in Florida, coming in at $524 per year.
Source: The Zebra
While our data shows People's Trust Insurance as the cheapest home insurance company in Florida for newly-constructed homes, that may not be the case for you or your area. Use this information as a jumping-off point in your search and compare as many companies as possible.
Compare Florida home insurance quotes and companies with The Zebra
What are the best homeowners companies in Florida?
What defines "best" can significantly differ from one person to another. For those in Florida seeking the ideal home insurance, it's wise to consider a mix of local and national evaluations, including insights from JD Power and AM Best. This approach ensures a broad perspective, blending expert analysis with regional specifics.
To streamline the decision-making process, we've compiled a list of the top home insurance companies in Florida, highlighting their strengths in overall service, bundling options, and coverage for high-value properties. This guide aims to simplify finding the right insurance provider to meet diverse needs and preferences.
The latest data from rating agencies show State Farm as a popular and trusted company for Floridians. On a national level, State Farm is ranked fairly high according to JD Power with a score of 829/1000.[3]
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Low complaint score from the National Association of Insurance Commissioners
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Local agents are available
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Slightly higher than average premiums
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May be selective in who it chooses to cover in Florida
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Company | Avg. Annual Premium | Avg. Monthly Premium |
---|---|---|
Nationwide | $993 | $83 |
State Farm | $1,583 | $132 |
Allstate | $1,826 | $152 |
Source: The Zebra
What are the best companies for 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 can save you a fair amount each month on your auto insurance policy. In fact, bundling policies in Florida leads to a yearly discount of $76 on average.[1]
Travelers is our pick for best home and auto insurance bundle in Florida. Rates for homeowners insurance are typically $86 cheaper when bundling the two together.
Source: The Zebra
Best home insurance companies for high-value homes
Much like the concept of the "best company," what qualifies as a "high-value" home is also subjective. However, when it comes to insurance evaluations, sentimental value is set aside in favor of concrete replacement costs. If you're uncertain about whether your home falls into the high-value category, here are some considerations:
- Property value greater than $750,000
- Extensive collection of art, jewelry, musical instruments or other valuable collectibles
Our Dynamic Insurance Rating Tool allows us to see average costs for home insurance in Florida for high-value homes — homes with a dwelling coverage value above $400,000. Below are the top and best companies:
Chubb Insurance receives solid reviews from AM Best and JD Power for home insurance products. The Zebra can easily recommend them for homeowners who require high coverage limits for valuable items, an area in which Chubb specializes.
Source: The Zebra
Compare homeowners insurance in Florida to find the best policy
Best home insurance in Florida for natural disasters
Florida is vulnerable to a number of natural disasters. Flooding, hail, tornadoes and hurricanes are regular occurrences in Florida.
Many of these perils are not covered by standard homeowners insurance coverage policies. Below is a guide with tips on how to make insure your home is covered.
Does homeowners insurance cover hurricanes in Florida? — Partially
Because hurricanes can cause damage and destroy property at a massive scale, 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 extreme risk of hurricane damage in Florida.[4]
If you own a home near the Atlantic or Gulf coasts, it's essential to confirm the details of your homeowners insurance policy since a basic policy won't typically 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 requiring high-risk homeowners insurance.
Source: The Zebra
Using our Dynamic Insurance Rating Tool, we're able to see the top companies in Florida with hurricane coverage added. Below shows the most popular dwelling amount in Florida with hurricane coverage added:
Updating data...
Hurricane Deductible | Avg. Annual Premium |
---|---|
None | $1,824 |
2% | $3,825 |
1% | $3,954 |
Source: The Zebra
Does homeowners insurance cover tornadoes in Florida? — Yes
Tornado damage is often covered under the windstorm portion of your policy, which is a standard feature in most homeowners insurance policies. Tornadoes can hit with very little warning. In fact, Florida averages 57 tornado events per year.[5]
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.
Does homeowners insurance cover flooding in Florida? — No
Flood insurance is a necessity for many in Florida, which faced $17,024,301 in flood insurance claims in 2016.[6] 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 exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.
Do I need flood insurance?
If you have a mortgage or some type of lender, they will often inform you whether or not you're required to carry flood insurance. If you're unsure, you can use FEMA's Flood Map Service Center to see if you live in a floodplain.
However, recent studies have shown that as many as 350,000 properties in Florida that aren't labeled high-risk could face flood hazards. For this reason, FEMA strongly encourages flood protection for many properties in the state.[7]
Does homeowners insurance cover sinkholes in Florida? — Sometimes
In Florida, sinkhole coverage is a critical aspect of homeowners insurance due to the state's geological susceptibility to sinkholes. Like flood insurance, standard homeowners insurance policies typically do not cover sinkhole damage. This is because sinkholes, much like floods, pose a unique and significant risk that requires specialized coverage.[8]
To protect against sinkhole damage, Florida law requires insurance companies to offer coverage for "catastrophic ground cover collapse." However, this coverage is narrowly defined and only applies if the sinkhole causes the home to be condemned and uninhabitable. According to section 627.706(k) of Florida statutes, the law requires that there be “structural damage" that impacts the structural integrity of your home.
For broader protection, homeowners in Florida can purchase optional sinkhole insurance coverage. This additional coverage is designed to protect against various forms of sinkhole damage, not just the scenarios that meet the stringent criteria of catastrophic ground cover collapse. Homeowners need to understand the terms and coverage limits of any sinkhole policy they consider, as these can vary significantly between insurers.
Optional sinkhole insurance can cover:
- The repair of the home’s structure
- Stabilization of the land under the home
- Contents of the home, depending on the policy
Popular policies & coverage for Florida homeowners
What homeowners insurance options are available in Florida?
A number of coverage options are available to homeowners in Florida. Tiers of coverage are prescribed by the Insurance Services Office (ISO), an advisory organization that develops insurance programs and helps states meet regulation requirements.
Below you’ll find corresponding policy names used by some home insurance companies in Florida:
- HO-1: Provides basic coverage and covers a home and the property therein against named perils.
- HO-2: Expands coverage to include additional named perils.
- HO-3: Covers a home against open perils and your contents against named perils.
- HO-5: Covers a home and its contents against all perils unless specifically listed.
Florida homeowners insurance issues
Availability of insurers
The Florida home insurance market has seen several insurers leaving the market due to the high risk of catastrophic losses from hurricanes. This exodus has left homeowners with fewer options, often leading them to resort to the state-run Citizens Property Insurance Corporation.
Citizens Property is intended as an insurer of last resort for those who cannot find coverage elsewhere, but its growing policyholder base reflects the challenges in the market. Despite legislative efforts to encourage more private insurers to enter or remain in the market, the volatility caused by increasing hurricane frequency and ferocity poses ongoing challenges.
In 2024, a number of new insurance companies were approved to see insurance in the state, hopefully reducing the need for state intervention. According to the Insurance Information Institute's Mark Friedlander, "these new insurers will give consumers choice on shopping their coverage and getting competitive quotes, something we haven't seen in Florida in a very long time."[9]
These companies include:
- Tailrow Insurance Company
- Mainsail Insurance Company
- Orion 180 Insurance Company
- Orion 180 Select Insurance Company
- Orange Insurance Exchange
- Condo Owners Reciprocal Insurance.[10]
"We are seeing positive signs of improvement in the Florida home insurance market after many years of turmoil. This is the result of the strong reforms passed by the Florida Legislature in a special session in December 2022. The reforms addressed the two key factors generating Florida's manmade insurance crisis: legal system abuse and assignment of benefits claim fraud.
"Among the improvements, state-run Citizens Property Insurance Corp. has successfully implemented depopulation, with more than 200,000 policies moving to the private market in the fourth quarter of 2023. Citizens, which plans to move an additional 300,000 policies to private carriers in 2024, is the state's largest home insurer, with more than 1.2 million customers today."[9]
Mark Friedlander — Communications Director, Insurance Information Institute
Florida legislative actions
Home insurance quotes in Florida by most populated cities
Not all cities in the Sunshine State have the same homeowners insurance rates. Heavily populated coastal areas such as Miami-Dade County are likely to be higher due to increased exposure to hurricane and storm risks. Prices for property insurance also depend on locally specific variables such as the number of local claims filed and the likelihood of perils like vandalism and natural disasters, giving your ZIP code plenty of weight in how much you pay.
Among the major cities, the most affordable home insurance in Florida is found in Tallahassee. An average home insurance policy in Tallahassee costs Floridians just $1,102 each year — $734 less than the statewide average. Have a look at the average annual home insurance rates for some of the biggest cities in Florida.
Updating data...
City | Avg. Annual Premium |
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Tallahassee | $1,102 |
Jacksonville | $1,200 |
Saint Petersburg | $1,439 |
Cape Coral | $1,454 |
Orlando | $1,533 |
Tampa | $1,638 |
Port St. Lucie | $1,985 |
Fort Lauderdale | $3,105 |
Miami | $3,568 |
Hialeah | $3,880 |
Source: The Zebra
Compare homeowners quotes to find the best rates in Florida
Florida homeowners insurance FAQs
Data Methodology. The Zebra’s Dynamic Insurance Rating Tool
Anonymized User Survey. The Zebra
JD Power. 2023 US Home Insurance Study
Insurance Information Institute: Facts and Statistics About Hurricanes
NOAA's National Weather Service: Storm Prediction Center
Florida Department of Financial Services: Sinkholes
Mark Friedlander. Personal Interview.
WPTV West Palm Beach: New Insurance Companies Entering Florida
Florida Legislature: Florida Bill HB 3D
Florida Legislature: Florida Senate Bill 4D
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.