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The Best and Cheapest Homeowners Insurance Companies in Florida

We analyzed data from more than 150 insurance companies to find the cheapest home insurance rates in Florida.

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Homeowners insurance in Florida: what you need to know

The average cost for home insurance in Florida is $1,405 per year or $118 per month. Average premium costs are about average compared to the rest of the US — although Floridians do pay 5% more per year. The easiest way to get an affordable homeowners insurance policy in Florida is to get quotes from as many insurance companies as possible. Unlike car insurance, 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.

Learn more about typical homeowners insurance rates in Florida by referencing the below data. Your rates may vary, depending on your coverage limits.

 

Table of contents:
  1. Best cheap Florida homeowners insurance companies
  2. Rates by coverage amount
  3. Homeowners rates in different cities
  4. Rates by deductible
  5. Home-and-auto bundling discounts
  6. FAQs
  7. Hurricane, flood and disaster insurance

 

The best cheap home insurance companies in Florida

Home insurance rates 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 average 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 companies, listed below.

 

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

 

Home insurance prices in Florida by coverage levels

Your chosen amount of home insurance coverage has an impact on the insurance premiums you pay. In Florida, carrying $100K dwelling coverage (at replacement cost) runs an average of $813 per year, while carrying coverage up to $400K costs $2,699 per 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

 

Florida homeowners insurance costs: by city

Not all cities in the Sunshine State have the same homeowners insurance rates. Prices for property insurance may depend on locally specific variables such as the number of local claims filed, the likelihood of perils like vandalism and natural disasters, and more, 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 Floridians just $1,038 each year — $412 less than the statewide average. The cities listed below 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

 

Seeking info on home insurance in a bigger city? Check out our data-driven analyses of the six most populous Florida cities:

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

 

Homeowners insurance deductibles in Florida

Florida homeowners have numerous choices to make when buying a homeowners policy, including the amount of their deductible. 

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 you 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 incur 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. Annual Rate(No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)

$1,995$1,910$854%

 


 

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 home insurance companies will charge higher rates to offset the risk of insuring properties in the state.

How long does a home insurance claim take in Florida?

This varies by the insurance 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 comes 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 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.*

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 requiring high-risk homeowners insurance.

*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.

Compare home insurance rates online today.

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Ross Martin LinkedIn

As a licensed insurance agent, Ross is responsible for researching and writing about all matters related to auto and home insurance. He has a background in writing and education, as well as a master's degree from Royal Holloway, University of London. He has been quoted by CNET, iDriveSafely.com, and Kin Insurance.

About The Zebra

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