We looked at average costs, customer service ratings, and policy options from multiple top insurers to find the best and cheapest home insurance companies in Florida.
The average cost of homeowners insurance in Florida is $191 per month or $2,288 per year for $300,000 in dwelling coverage, according to our latest insurance pricing analysis. This is around 30% higher than the national average of $1,754 per year.
And rates continue to rise due to devastating hurricanes, expensive roofing lawsuits, and companies leaving the state due to the high risk of losses. You can learn more about the current state of the home insurance crisis in Florida below and find tips for finding the best home insurance company for your needs.
Our picks for the best homeowners insurance companies in Florida reflect the best options for the here and now, so carriers with limited or no policy options were not considered in this guide. Because of the state's recent news events and constantly evolving insurance landscape, we will continue monitoring the situation and updating our list accordingly.
Compare the best homeowners insurance companies in Florida
Based on Policygenius' analysis of the most widely available insurance companies in the state, State Farm, Security First Insurance, Tower Hill, Universal Property, Frontline Insurance, Citizens, and Slide Insurance are Florida's best homeowners insurance companies in 2023.
Methodology & why you can trust our rates
Best overall home insurance company in Florida: State Farm
2023 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
Pros and cons
More details
Best for affordable rates: Security First Insurance
Security First Insurance
4.1
Offers flood insurance
Offers extended replacement cost
Wind/hail deductible
Insures older homes
Why we chose it
Pros and cons
More details
Best for flood insurance add-on: Tower Hill
Tower Hill
3.6
Bundle home & auto
Wind/hail deductible
Offers extended replacement cost
Offers flood insurance
Why we chose it
Pros and cons
Best for older homes & roofs: Universal Property
Universal Property
3.6
Wind/hail deductible
Why we chose it
Pros and cons
More details
Best for hurricane deductible cash-back program: Frontline Insurance
Frontline Insurance
3.9
Wind/hail deductible
Why we chose it
Pros and cons
More details
Best for coverage exclusive to Florida homeowners: Slide Insurance
Slide Insurance
3.9
Wind/hail deductible
Why we chose it
Pros and cons
Best for high-risk homes: Citizens
Citizens Property Insurance
2.5
Wind/hail deductible
Why we chose it
Pros and cons
More details
How much is homeowners insurance in Florida?
The average cost of homeowners insurance in Florida is $2,288 per year. This is higher than the national average of $1,754 per year.
Florida homeowners insurance rates by city
Looking at average home insurance costs for the 20 largest cities in Florida, we found that Palm Bay has the cheapest homeowners insurance in the state, followed by St. Pete and Gainesville.
Florida homeowners insurance rates by coverage amount
One of the most important (and expensive) parts of your home insurance policy is your dwelling coverage, since it protects the physical structure of your home from covered hazards like hurricanes and fires.
How much dwelling coverage you purchase should be based on the replacement cost of your home — not its market value. That means even if you paid $600,000 for a home that would really only cost $400,000 to rebuild — you’d only need $400,000 in dwelling coverage.
The table below highlights the average annual premium in Florida for five different levels of dwelling coverage.
As you can see, the higher your dwelling coverage limit, the higher your premiums. In Florida, the most significant rate jump occurs in the $400,000 to $500,000 range — with a nearly $800 difference in premiums between these two coverage levels.
How much is homeowners insurance in Florida?
The average cost of homeowners insurance in Florida is $2,288 per year. This is higher than the national average of $1,754 per year.
Florida homeowners insurance rates by city
Looking at average home insurance costs for the 20 largest cities in Florida, we found that Palm Bay has the cheapest homeowners insurance in the state, followed by St. Pete and Gainesville.
Florida homeowners insurance rates by coverage amount
One of the most important (and expensive) parts of your home insurance policy is your dwelling coverage, since it protects the physical structure of your home from covered hazards like hurricanes and fires.
How much dwelling coverage you purchase should be based on the replacement cost of your home — not its market value. That means even if you paid $600,000 for a home that would really only cost $400,000 to rebuild — you’d only need $400,000 in dwelling coverage.
The table below highlights the average annual premium in Florida for five different levels of dwelling coverage.
As you can see, the higher your dwelling coverage limit, the higher your premiums. In Florida, the most significant rate jump occurs in the $400,000 to $500,000 range — with a nearly $800 difference in premiums between these two coverage levels.
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