Best Homeowners Insurance in Florida

The average cost of home insurance in Florida is $2,595 a year, or $216 a month, but we saw rates as cheap as $786 a year.

Compare Homeowners Insurance In Florida

Monday, May 17 2021 By Hira Tanweer

Florida is one of the most expensive states for homeowners insurance because it is at high risk of natural disasters. While it may be tempting to prioritize cheap rates in your search, making sure you have the right amount of coverage is important. To help you get the most for your money, we studied the home insurance marketplace in Florida and picked the best four companies.

Average homeowners insurance rates in Florida

  2021 2019 2018 2016 2015 2014

Florida annual average

$2,595

$1,777

$1,960

$1,918

$1,993

$2,055

Florida price per month

$216

$148

$163

$160

$166

$171

U.S. annual average

$1,726

$1,215

$1,249

$1,192

$1,173

$1,132

U.S. price per month

$144

$101

$104

$99

$98

$94
Note: Average rates for 2021 are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. 2014-2018 data is sourced from the National Association of Insurance Commissioners.

One way you can customize your policy to better fit your needs is by raising or lowering your deductible. The deductible amount you choose affects your premium.

Average Florida homeowners insurance rates by deductible
Deductible amount Average annual premium

$500

$2,739

$1,000

$2,595

$1,500

$2,573

$2,000

$2,269
Note: Average rates for 2021 are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheapest home insurance companies in Florida

Home insurance rates vary from insurer to insurer. We reviewed quotes from 10 home insurance companies in Florida in order to find the cheapest home insurance rates. Here are the rates for some of the biggest home insurance companies in Florida.

 

Note: Average rates for 2021 are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

See how much you can save when companies compete for your business

Best value: State Farm

State Farm is our top pick for homeowners insurance in Florida because it offers fair rates, great coverage, decent customer service and a large agent network.

By the numbers, State Farm performs better than its competition. State Farm's Florida subsidiary, State Farm Florida Insurance Company, had a NAIC Complaint Index of 0.03 in 2020. The Complaint Index is a measure of formal complaints made against an insurance company. This means that it received much less than half as many complaints as expected in the market.

Additionally, State Farm received a score of 829 out of 1,000 from J.D. Power in 2020, meaning overall customer satisfaction with the company is above average.

Our study found that State Farm offers an average annual premium of $2,082, which is $513 less than the state average. State Farm may not be the cheapest option, but its rates are fair. Because Florida has some of the most expensive home insurance rates in the U.S., finding an affordable option can be difficult, but the value State Farm provides for its price is among the best in the state.

The sample home insurance policy we saw from State Farm had coverage for windstorms, which includes hurricanes and tornadoes. It's possible that State Farm writes policies that exclude windstorm coverage, but we've yet to see one. Windstorm coverage is especially important in Florida, as it experiences severe weather.

Best for cheap rates: Security First

Our study found that Security First offers the cheapest home insurance rates, at $656 a year. That's less than the state average by $1,939. Price is not the only factor when shopping for home insurance, so here's what else to know about Security First.

Security First is a regional insurance company that specializes in covering Florida homes. Security First had a NAIC Complaint Index of 0.27 in 2020, which means that it received fewer complaints relative to its size than the national average of 1.0.

Best for hard-to-cover homes: Citizens Property Insurance

Citizens Property Insurance was founded as a nonprofit in 2002 by the Florida Legislature in order to provide property insurance to Floridians who couldn't find coverage with private companies. With so many insurance risks in Florida, it can be difficult to find the coverage you need for your home. In that case, Citizens may be your best option.

Citizens' NAIC Complaint Index was 0.23 in 2020, which is relatively low for the market. However Citizens' average annual rate of $5,316 is higher than the statewide average.

Best for active service members, veterans and their families: USAA

USAA is only available to current and former military members and their families, but it offers exceptional home insurance coverage if you qualify. USAA's policies are accompanied by top-notch customer service. While its policies are not the cheapest around, it is a great option for veterans and active service members. With over 1.5 million veterans living in Florida, and an additional 36,000 active service members residing in the state, many Floridians may qualify for USAA.

USAA provides many discounts. As with many large insurance companies, you can save by bundling. USAA's security system discount is particularly noteworthy. USAA maintains a partnership with ADT, which gives USAA members 10% off installation of a security system and 10% off monthly monitoring.

USAA's home insurance policies accommodate service members and veterans by adding coverage and services that address their unique needs. For example, USAA covers military uniforms in case they are damaged. USAA also provides services that connect customers with professional networks, such as contractors and moving services.

USAA's coverage is at the top of the industry. It offers replacement cost coverage on its home insurance policies, which means that insurance claims cover the full cost to get a new item in the event of a loss. With many policy add-ons, there is ample opportunity to customize your policy to get the right coverage for you.

Best home insurance companies by ratings

The insurance marketplace in Florida contains many regional insurers. Unlike many states, Florida isn't dominated by large companies. The 2020 J.D. Power rating is based on nearly 12,000 interviews with homeowners and renters. The Complaint Index measures how many complaints a company receives relative to its size.

Company Market share* 2020 J.D. Power rating (out of 1,000) 2020 Complaint Index (lower is better)*

USAA

2.05%

889

0.73

Country Financial

-

855

-

Amica

0.86%

853

0.51

Auto-Owners

1.37%

843

0.41

Erie

1.00%

839

0.48

The Hartford

0.27%

832

2.36

Allstate

3.47%

829

1.0

State Farm

13.85%

829

0.74

CSAA

0.28%

825

0.94

MetLife

-

824

-

American Family

1.37%

821

0.55
Note: Market share and Complaint Index are based on 2020 data from the National Association of Insurance Commissioners. J.D. Power ratings are based on the 2020 US home insurance study.

Home insurance rates in Florida by county

Miami-Dade County has the highest home insurance costs of the counties we considered, at $4,372 a year, while Hernando County has the least expensive premiums, at $1,095 per year. Here are Florida homeowners insurance rates by county:

County Average annual premium

Miami-Dade

$4,372

Broward

$3,453

Palm Beach

$2,228

Hillsborough

$1,639

Orange

$1,715

Pinellas

$1,295

Duval

$1,363

Lee

$1,779

Polk

$1,813

Brevard

$1,390

Volusia

$1,251

Pasco

$1,179

Seminole

$1,567

Sarasota

$1,330

Manatee

$1,289

Collier

$1,864

Marion

$1,238

Osceola

$1,854

Lake

$1,255

Escambia

$1,499

St. Lucie

$2,046

Leon

$1,181

Alachua

$1,193

St. Johns

$1,118

Clay

$1,184

Okaloosa

$1,502

Hernando

$1,095

Bay

$1,471

Charlotte

$1,533

Santa Rosa

$1,496

Martin

$1,670

Indian River

$1,836

Citrus

$1,223

Sumter

$1,210

Flagler

$1,300

Highlands

$1,539

Nassau

$1,347

Monroe

$2,438

Putnam

$1,140

Columbia

$1,440

Walton

$1,600

Jackson

$1,393

Gadsden

$1,372

Suwannee

$1,690

Okeechobee

$1,601

Hendry

$1,778

Levy

$1,588

DeSoto

$1,526

Wakulla

$1,435

Baker

$1,353

Bradford

$1,333

Hardee

$1,515

Washington

$1,494

Taylor

$1,281

Holmes

$1,460

Madison

$1,404

Gilchrist

$1,344

Dixie

$1,271

Gulf

$1,629

Union

$1,468

Calhoun

$1,470

Hamilton

$1,448

Jefferson

$1,366

Glades

$1,404

Franklin

$1,595

Lafayette

$1,412

Liberty

$1,548
Note: Average rates for 2021 are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Florida home insurance rates by city

Our study found that Hialeah had the most expensive home insurance premiums, at $4,844 per year, of the cities we considered, while St. Petersburg had the cheapest rates, at $1,172 per year. Here are Florida home insurance rates by city:

City Average annual premium

Jacksonville

$1,370

Miami

$4,020

Tampa

$1,562

Orlando

$1,671

St. Petersburg

$1,172

Hialeah

$4,844

Tallahassee

$1,181

Port St. Lucie

$2,028

Cape Coral

$1,750

Fort Lauderdale

$3,329

Pembroke Pines

$3,623

Hollywood

$3,376

Miramar

$3,644

Coral Springs

$3,576

Gainesville

$1,193

Lehigh Acres

$1,886

Brandon

$1,665

Clearwater

$1,332

Palm Bay

$1,366

Miami Gardens

$4,652

Spring Hill

$1,097

Pompano Beach

$3,402

West Palm Beach

$2,235

Lakeland

$1,809

Davie

$3,616

Boca Raton

$2,263

Riverview

$1,642

Sunrise

$3,644

Plantation

$3,335

Alafaya

$1,751
Note: Average rates for 2021 are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Compare rates from insurers in Florida, all in one place

Florida homeowners insurance rate factors

It's no secret that homeowners in Florida face environmental threats. There have been 54 natural disasters in Florida since 2001, according to FEMA. Of these disasters, 26 were hurricanes or severe storms, 22 were fires and six were tropical storms.

Homeowners insurance usually covers damage from hurricanes and fires, but never from flooding. However, some companies exclude windstorm coverage for high-risk areas, so you should always check with your insurance company to ensure you're fully protected.

Windstorms: hurricanes, tornadoes, high winds and cyclones

The state of Florida doesn't require homeowners to have windstorm protection, but some mortgage lenders do. What is required by the state, however, is that insurers give their customers the option of windstorm coverage, except in some particularly high-risk areas.

We recommend adding windstorm and hail coverage to your homeowners policy, with protection against tornadoes, hurricanes, cyclones and high winds included. It is possibly the most important protection for Floridian homeowners due to the state's high risk. If you aren't sure if windstorms are covered under your policy, you should check with your agent or insurance company.

Most home insurance policies have a hurricane deductible. Florida requires companies to offer $500, 2%, 5% and 10% hurricane deductibles. The percentage-based deductibles refer to your dwelling coverage, or how much you home is insured for. So, if your home is insured for $200,000 and you have a 2% hurricane deductible, your insurance kicks in after you pay a $4,000 deductible.

Flood insurance in Florida

Flooding is not covered by homeowners insurance. In order to protect your home and belongings from flood damage, you'll have to purchase a separate flood insurance policy. There are two main options: flood insurance through the NFIP (backed by the U.S. government), or flood insurance through a private flood insurance company.

It is difficult to say whether a private flood insurance policy or NFIP policy is cheaper. There are times when NFIP policyholders may overpay compared to a private company, but the reverse can also be true. Therefore, your best bet is to collect quotes from multiple companies to ensure you receive the right coverage at a fair price.

Methodology

We collected quotes from every ZIP code in Florida for a standard HO-3 homeowners insurance policy. We used the following coverages:

  • $275,000 dwelling coverage
  • $27,500 other structures
  • $137,500 personal property
  • $55,000 loss of use coverage
  • $100,000 liability
  • $5,000 medical payments
  • $1,000 deductible

The largest home insurance companies in Florida were considered, including: ASI (part of Progressive), Florida Peninsula Insurance, Heritage Insurance, Homeowners Choice Property & Casualty Insurance Co., Security First Insurance, St. Johns Insurance, Citizens Property Insurance, and Universal Property & Casualty Insurance Co. We reviewed publicly available form filings from State Farm and Citizens Property Insurance.

Florida Office of Insurance Regulation

Website:
Homepage
Insurance Commissioner:
David Altmaier
Consumer Insurance Helpline:
1-877-MY-FL-CFO (1-877-693-5236)
Office Hours:
Monday - Friday
9:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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