Best homeowners insurance in Florida for 2023

We looked at policy cost, coverage quality, and unique policy offerings for Florida residents to find the best homeowners insurance companies in Florida.

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By

Jennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Edited by

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.
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Reviewed by

Michael Reynolds, CSRIC®, AIF®, CFT-I™Michael Reynolds, CSRIC®, AIF®, CFT-I™Financial AdvisorMichael Reynolds, CSRIC®, AIF®, CFT-I™, is a financial advisor, principal and founder of Elevation Financial, host of the weekly personal finance podcast Wealth Redefined®, and a member of the Financial Review Council at Policygenius.

Updated|14 min read

Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.

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Florida may be known as the Sunshine State for its vitamin sea, but its months-long hurricane season makes home insurance a vital purchase for any homeowner. Unfortunately, it’s this very risk of hurricane damage and vast coastline that makes the average cost of homeowners insurance in Florida so expensive — averaging $2,643 per year or $220 a month. This is around 39% higher than the national average of $1,899 per year.   

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But rates continue to rise due to devasting 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.

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In the news

Thousands of Florida homeowners facing policy cancellations, higher premiums, and mortgage defaults

After Demotech downgrades several Florida insurance carriers' financial strength and stability ratings, thousands of homeowners are at risk of losing their home insurance.

Jennifer Gimbel • August 5, 2022

Methodology & why you can trust our rates

Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:

  • Dwelling: $300,000

  • Other structures: $30,000

  • Personal property: $150,000

  • Loss of use: $60,000

  • Liability: $300,000

  • Medical: $1,000

All rates based on the above coverage limits except where otherwise noted.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.

Best homeowners insurance companies in Florida

Of the companies we looked at, Tower Hill has the lowest annual premiums in Florida at just $1,189 per year, while Citizens Insurance is five times more expensive at $6,019 per year. 

This drastic difference in price is because Citizens sells Florida’s Fair Access to Insurance Requirements (FAIR) Plan policies specially designed for high-risk homeowners who’ve been denied coverage by traditional home insurance companies.

Aside from cost, you’ll also want to consider each company’s customer service, claims satisfaction, and coverage options when choosing a provider. This is especially important in Florida, where unpredictable weather and a strained insurance market has led to over 116,000 lawsuits filed against insurance companies in 2021. (To put that into perspective, no other state had more than 900.)

So looking at the five largest home insurance companies in Florida, Policygenius analyzed thousands of quotes to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Florida residents to find the best homeowners insurance in Florida.

Company

Average yearly cost

J.D. Power Rating

Universal Property

$2,353

--

Citizens

$6,019

--

State Farm

$2,227

835

Tower Hill

$1,189

--

ASI Progressive

$1,952

821

Universal Property

Universal Property logo

Universal Property is a Florida-based insurance company that provides a relatively standard, but solid home insurance policy. It's an especially good option if you have lots of animals on your property thanks to its special animal liability coverage.

Pros

  • Covers homes that are generally more difficult to insure

  • Excellent coverage add-ons, such as replacement cost contents, water backup, equipment breakdown, and service line coverage

  • Special animal liability coverage available in case your dog or another animal on your property injures someone

Cons

  • Customer reviews complain of a poor claims experience

  • Doesn't offer increased dwelling coverage

  • Minimal discount opportunities

Why Universal Property tops our best list

We like Universal Property thanks to its flexible underwriting criteria. It offers coverage to high-risk homeowners who might struggle to qualify with other insurers — a valuable benefit when so many homes are located in hurricane-prone areas throughout the state. 

You also have the option of adding tree and debris removal coverage to your policy — something you’d likely want to consider with the high number of thunder and lightning storms the state sees each year. And you can score discounts for fortifying your home with windstorm protective devices, meaning you’re saving money while keeping your family safe. Talk about a win-win.

How to get a quote

Online through Universal Property

Citizens Insurance logo

Citizens Insurance offers basic home and wind-only insurance coverage for homes in high-risk coastal areas of Florida. If you're having a difficult time finding a company to insure your home, Citizens is a decent last-resort option.

Pros

  • Provides homeowners insurance to high-risk homes that are often denied coverage by private insurers

  • Offers wind-only policies

  • Sets up catastrophe response centers after natural disasters to offer in-person support to homeowners without power or means of communication

  • File claims over the phone or online 24/7/365

  • Low customer complaint ratings in 2020

Cons

  • Rates are around 15% higher than the state average

  • Limited additional coverage options

Why Citizens tops our best list

Although Citizens Insurance doesn’t come cheap, expensive insurance still provides much-needed protection. And that’s why we like Citizens. It’s helpful for Floridians in a pinch who’ve been denied coverage from other insurers due to their proximity to the coast, past history of claims, or poor insurance score.

But that doesn’t make it a second-rate insurer. In fact, it has a lower rate of customer complaints than other insurers on this list, according to the NAIC Complaint Index. [1] One reason for this might be its mobile catastrophe response centers it dispatches throughout the state following a hurricane, tornado, or other natural disaster to make filing claims easier for impacted policyholders. 

How to get a quote

Reach out to a Citizens Insurance agent in your area — you can use this tool to help you find a Citizens agent near you

State Farm

State Farm logo

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

  • Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

  • Get up to $1 million in personal liability coverage

  • Score discounts for bundling, installing security devices, and choosing a high deductible

  • File and track claims online, over the phone, in person, or through its mobile app

  • High customer satisfaction and financial strength ratings

Cons

  • No discounts for first-time homebuyers or going a year without a claim

Why State Farm tops our best list

Earning a stellar 835 out of 1,000 J.D. Power rating — the highest of any insurer on this list — State Farm is known for its top-notch customer service and seamless claims filing. [2] And its coverage isn’t lacking, either. We especially love that it doesn’t require a larger deductible for roof damage — a common claim for Florida homeowners. This is a huge perk considering Florida lawmakers have been pushing to allow insurers to charge roof deductibles of up to 2% of your dwelling coverage limit. [3]  

How to get a quote

Online through State Farm

Tower Hill

Tower Hill logo

Tower Hill stands out thanks to its robust flood insurance options and contractor network program that makes repairing your home after a natural disaster as seamless as possible.

Pros

  • Offers 3 flood insurance options, including a private flood endorsement and standalone policy

  • Contractor network program for easy repairs that come with a 5-year warranty for workmanship

  • Lower-than-average customer complaints according to the NAIC

Cons

  • Little information about discounts or coverage options available online

Why Tower Hill tops our best list

We’re a big fan of Tower Hill — especially for high-net-worth Floridians. The insurer offers two special policies with more robust coverage limits for homeowners with larger, more expensive homes. Its enhanced debris removal coverage will come in handy with the high winds that accompany hurricane season. And its rare screened enclosure coverage will keep your screened-in pool protected from all of the elements. 

Add to this its personal liability limits that span up to a whopping $1 million and its personal property replacement cost coverage, and you’d be hard-pressed to find another insurer on this list that ensures your home is this protected.  

How to get a quote

Online through Policygenius or Tower Hill

ASI Progressive

ASI Progressive logo

ASI Progressive offers robust home insurance coverage and ways to save. Our fave perk? Its bundling discount, which lets you save up to 20% on premiums and only requires you to pay one deductible if your home and car are damaged in the same event.

Pros

  • Policies are backed by Progressive Insurance

  • Flood insurance coverage add-on available — a rarity among insurers

  • Save up to 20% when you bundle your home and auto insurance

  • Score discounts for owning a new home, signing up for e-bills, paying your premiums in full for the year, and more

  • Only pay one deductible if your home and car are damaged in the same incident and you bundle your home and auto insurance together

  • File and track claims online

Cons

  • Below-average claims satisfaction ratings

  • Minimal information about coverage add-ons available online

Why ASI Progressive tops our best list

Florida homeowners who live near the coast will appreciate ASI Progressive’s flood insurance coverage add-on — meaning you won’t have the hassle of taking out a separate policy with another insurer. 

We also like ASI Progressive for its bundling option. Insure both your home and car with ASI and you’ll not only score a huge discount, but you’ll only have to pay one deductible if your home and car are damaged in the same incident. This means if a hurricane knocks a tree onto your home and car, or rising ocean waters flood your garage and prized Corvette, you’d only be on the hook for one deductible.

How to get a quote

Online through Policygenius or ASI Progressive

Cheapest homeowners insurance companies by city in Florida

Looking at average home insurance costs for the 15 most popular insurers in Florida, we found that the cheapest homeowners insurance companies in the state are Tower Hill and ASI Progressive.

You’ll notice that inland cities situated around Gainesville (Grandin, Hollister, and Interlachen) have some of the lowest rates, since they’re less likely to sustain hurricane damage. 

Meanwhile, towns in southeast Florida along the Atlantic coast (Pompano Beach, Fort Lauderdale, and Hollywood) have some of the highest rates — not surprising considering their risk of hurricane and storm surge damage.

But your home’s location isn’t the only factor that affects your home insurance rates. Everything from the size of your home to the age of your roof to your credit history play a role in determining your cost of homeowners insurance.

Regardless of all of these factors, it’s still possible to find affordable home insurance in cities throughout Florida, as evidenced by the companies highlighted in the table below.

City

Company

Average yearly cost

Cape Coral

Tower Hill

$754

Clearwater

Tower Hill

$920

Coral Springs

Tower Hill

$1,938

Fort Lauderdale

Chubb

$2,039

Gainesville

Tower Hill

$667

Hialeah

Chubb

$1,026

Hollywood

Chubb

$2,039

Jacksonville

Tower Hill

$1,022

Lakeland

Tower Hill

$1,207

Miami

Chubb

$1,186

Miramar

Chubb

$919

Orlando

Tower Hill

$1,224

Palm Bay

Tower Hill

$973

Pembroke Pines

Chubb

$919

Pompano Beach

Chubb

$2,039

Port St. Lucie

Chubb

$861

St. Petersburg

UPC Insurance

$764

Tallahassee

Tower Hill

$678

Tampa

Tower Hill

$1,353

West Palm Beach

Chubb

$1,079

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Florida home insurance crisis — updates for 2023

Florida homeowners know all too well how unstable the state’s home insurance industry is. 

Every week, there's a new story in the news about insurers going out of business or leaving the state, homeowners struggling to get their claims paid out, roofing lawsuits between homeowners and their insurers or contractors, and sky-high rates that have become unaffordable for many — if they can even qualify for coverage at all.

Here, we break down the latest updates in Florida's ongoing insurance crisis and give tips for navigating the complex insurance market as you shop for coverage.

A breakdown of the home insurance crisis in Florida

Here are the developments over the last two years that have put Florida’s home insurance market on the brink of collapse:

Hurricanes Nicole and Ian cause as much as $60 billion in losses in 2022 

Hurricane Nicole, which hit the state in November 2022, is expected to have caused no more than $750 million in losses, according to a CoreLogic prediction. [4] However, add to that the devastating destruction caused by Hurricane Ian just two months prior, and you’re looking at loss estimates totaling as high as $60 billion for just two Florida weather events in 2022.

Disreputable home insurance companies slash claim payouts for losses

In March 2023, Florida Peninsula Insurance and Heritage Property Insurance were investigated by The Washington Post for underpaying claims by more than 80% after Hurricane Ian. [5]

Even worse, the American Policyholder Association, a nonprofit insurance industry watchdog group, reported several cases of what appears to be “systemic criminal fraud perpetrated to cheat policyholders out of fair insurance claims.” It has plans to submit criminal referrals to authorities in Florida and several other states later on in 2023.

Florida gets the majority of home insurance lawsuits over claims each year

Florida sees 79% of all home insurance lawsuits over claims filed nationwide. However, the state of Florida only makes up 9% of the nation’s home insurance claims, according to the Florida Governor’s Office. [6]  

“Floridians are seeing homeowners insurance become costlier and scarcer because for years the state has been the home of too much litigation and too many fraudulent roof replacement schemes,” says Sean Kevelighan, CEO of the Insurance Information Institute. [7]  

Florida insurers consistently file for double-digit rate increases each year 

To recoup the losses from the combination of natural disaster claims and litigation expenses, Florida insurance companies are consistently filing for rate increases each year with the Florida Office of Insurance Regulation.

Just last year, Florida insurer First Community Insurance raised its average rate by almost 45% for more than 25,500 Florida homeowners. In March 2023, Citizens Property Insurance filed a 14.2% average rate increase on all of its 1.2 million home insurance policies in Florida. And Kin Insurance asked for a whopping 61.5% rate increase on its standard home insurance policies. [8]  

While these rate increases need to be approved by the Florida Office of Insurance Regulation before they take effect, they’re still a startling indication of the rising cost of home insurance in Florida.

Insurers’ ratings downgraded due to poor financial strength and stability

Demotech, an Ohio-based rating firm that measures the financial strength and stability of 40 insurance carriers, downgraded the ratings of five Florida home insurance carriers in August 2023: UPC Insurance, Weston, FedNat Insurance, Bankers Specialty Insurance, and First Community Insurance. This led to many going out of business or leaving the state altogether. [9]

Over 10 Florida home insurance companies went bankrupt

As of April 2023, 11 home insurance companies in Florida went bankrupt over the last two years and are in the process of liquidation, including:

  • American Capital Assurance

  • Avatar Insurance

  • FedNat Insurance

  • Florida Specialty

  • Guarantee Insurance

  • Gulfstream Insurance

  • Southern Fidelity

  • St. Johns Insurance

  • UPC Insurance

  • Weston 

  • Windhaven

This left hundreds of thousands of homeowners scrambling to find a new home insurance company, forcing many to get coverage through Citizens Property Insurance — Florida’s state-mandated FAIR Plan designed as a last-resort option for homeowners struggling to find coverage on the private market.

How to find a reputable home insurance company during Florida's insurance crisis

Even with the volatile home insurance market, it’s possible to find a reputable home insurance company in Florida if you do your homework. Here are a few tips to keep in mind as you compare home insurance companies in Florida.

Research every company's claims satisfaction scores

With the news that Florida Peninsula Insurance and Heritage Property Insurance were slashing claim payouts to homeowners after Hurricane Ian, now it’s more important than ever to find a company with high claims satisfaction. You can check J.D. Power’s 2023 Claims Satisfaction Study or the National Association of Insurance Commissioners Complaint Index for a look at what companies fare well when it comes to claims and customer service.

Consider storm-proofing your home with wind-resistant features

If you live in an area of Florida at high risk of hurricanes or tropical storms, installing wind-resistant features can make your home more attractive to home insurance companies and can even help lower your rate. Here are a few wind-resistant features to consider installing:

  • Strong, secondary water-resistant layer on your roof

  • Hip roof made of metal that slopes downward

  • Storm-proof garage doors

  • Roof-wall attachments that use double wraps

  • Impact-resistant coverings over all windows and doors with glass openings

If you’re not sure where to start or whether your home already has any of these features, you can reach out to a wind mitigation inspector for an assessment.

Research the financial strength rating of any company you're considering

With more than 10 Florida home insurance companies going bankrupt over the last year, it’s vital to research the financial strength of any home insurance company you’re considering to ensure they have the funds to pay out claims in the wake of a disastrous hurricane or tropical storm. The best way to do this is by checking the company’s financial strength rating with AM Best, Standard & Poor's, Moody’s, or Demotech. You can find this information on our home insurance company reviews.

Take advantage of the My Safe Florida Home program

The My Safe Florida Home program is designed to help homeowners mitigate hurricane risk by providing free home inspections that identify and recommend improvements that can be done to your home. Eligible homeowners who live in participating areas of Florida can then apply for grants to get their homes retrofitted with these improvements to lessen the risk of hurricane damage.

Stay up to date on the latest Insurer Accountability bill in the works

A new bill was submitted to the Florida Senate in March 2023 that would increase fines for insurance companies practicing bad behavior, require insurers to report their claims-handling policies to the state, and give insurance regulators more oversight to examine insurer conduct. [10]

Shopping for home insurance in Florida

Once you’re ready to shop for homeowners insurance in Florida, a Policygenius expert can help you navigate your coverage needs and help you find the best deal. 

This will be helpful considering what a mess the Florida insurance market is. Insurers have stopped writing new policies left and right due to a turbulent market, high risks due to worsening storm seasons, and an outdated property insurance system.

That’s why it’s extra important to compare insurance companies to find the right one for you — paying close attention to coverage limits, policy deductibles, and ease of claims.

In this section, we break down the average annual home insurance rates in Florida for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners.

Compare home insurance rates in Florida

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Florida home insurance costs by coverage amounts

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 homenot 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.

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 $900 difference in premiums between these two coverage levels.

Dwelling coverage amount

Average yearly cost

$100,000

$1,012

$200,000

$1,827

$300,000

$2,643

$400,000

$3,504

$500,000

$4,392

Liability coverage is the part of your home insurance policy that protects all of your assets — think your home, cars, investments, and that Jet ski you just bought. It covers medical bills, attorney fees, and damages if someone is injured or their property is damaged while at your home and you’re found legally responsible.

More liability coverage doesn’t necessarily mean higher rates in Florida. In fact, you could pay nearly $1,000 less for $500,000 in liability coverage versus $100,000 in coverage — making it a great value add for your policy.

Liability coverage amount

Average yearly cost

$100,000

$3,188

$200,000

$2,307

$300,000

$2,402

$500,000

$2,181

Florida home insurance costs by deductible amount

Your home insurance deductible is the amount you have to pay out of pocket when you file a claim before your insurance company jumps in to cover the rest. In general, the higher your deductible, the lower your rates — and vice versa.

But before you choose a higher deductible, consider your risk of filing a claim — especially if you live in an area of Florida that’s often hit hard during hurricane season. You’ll want to make sure you have the savings to pay that high deductible — or else you won’t be able to file a claim at all.

Deductible amount

Average yearly cost

$500

$2,953

$1,000

$2,643

$2,000

$1,864

Home insurance discounts in Florida

Most home insurance companies offer discounts for adding protective devices to your home, since it lowers your risk of filing a claim. While having just a deadbolt, smoke alarm, or burglar alarm won’t drastically lower your rates in Florida, having all three might put a small dent in your premium.

Discount

Average yearly cost

Dead bolt

$2,643

Smoke alarm

$2,643

Burglar alarm

$2,522

Wind mitigation discounts & incentives in Florida

Many home insurance companies in Florida offer Fortified Roof, Fortified Home, and other wind mitigation discounts for installing fixtures or using construction techniques to reduce windstorm damage during a hurricane or tropical storm.

Other incentives include:

  • Hurricane Loss Mitigation Grant: Offers grants for retrofits, inspections, and construction to fortify your home against flooding and hurricane-force winds

  • Florida Property Assessed Clean Energy (PACE) Program: Offers financing for up to 100% of the costs to fortify your home against wind damage — payments are added to your property tax bill each year for an agreed-upon term

→ Learn more about wind mitigation discounts & how to qualify

Home insurance companies in Florida for dog owners

Surprising to many, another factor that impacts your home insurance rates is whether or not you own a dog, since there’s a greater risk of a guest getting injured while at your home. To offset that risk, many insurers charge higher rates for dog owners — especially if you have a pit bull, German shepherd, or another dog breed they consider “aggressive.”

Dog-loving homeowners in Florida might want to consider Tower Hill first, since they have the cheapest home insurance rates for dog owners at $1,189 per year. Alternatively, Citizens has the highest rates for homeowners with a dangerous dog breed at $6,019 per year.

Company

Average yearly cost

Tower Hill

$1,189

ASI Progressive

$1,977

State Farm

$2,227

Universal Property

$2,353

Citizens

$6,019

Home insurance companies in Florida for poor credit

Your credit score also plays a role in your home insurance premiums. Homeowners with lower credit scores generally see higher rates, since insurers consider you more likely to file a claim.

With an average rate of $1,898 per year, Tower Hill has the cheapest home insurance rates in Florida for a homeowner with poor credit, while Citizens’ average yearly premium of $6,019 is the highest. 

Company

Average yearly cost

Tower Hill

$1,898

Universal Property

$2,353

ASI Progressive

$3,367

State Farm

$3,816

Citizens

$6,019

Home insurance companies in Florida for pool owners

Homeowners with a pool will also see higher rates than those without, since again there’s a greater risk of someone getting injured while at your home. 

So what company is the friendliest toward Florida pool owners? That would be Tower Hill, with the cheapest average rate of $1,189 per year. Meanwhile, Citizens (shocker) is the most expensive insurer for pool owners with a $6,019 average yearly premium.

Company

Average yearly cost

Tower Hill

$1,189

ASI Progressive

$1,952

State Farm

$2,227

Universal Property

$2,353

Citizens

$6,019

How to buy homeowners insurance in Florida

With so many insurance companies pulling out of Florida thanks to the severe weather that makes expensive claims difficult to finance, it’s extra important to compare policies from multiple companies to make sure you’re getting the best coverage at the fairest price. 

6 simple steps to buying home insurance in Florida

  1. Reach out to a licensed Policygenius agent. Our team of licensed insurance experts is at the ready to help you figure out how much coverage you need and what company offers it at the best price — all for free with no impact to your credit score.

  2. Ask about Citizens Insurance — Florida’s FAIR Plan provider. If you’re struggling to qualify for insurance from a traditional provider due to your home’s high risk, ask your Policygenius agent if a policy through Florida’s FAIR Plan makes more sense. 

  3. Consider purchasing flood insurance. Since standard home insurance policies don’t cover flooding, you’ll want to add flood coverage or purchase a separate Florida flood insurance policy to make sure you’re fully protected. A Policygenius agent can help you do this, too.

  4. Figure out how low of a deductible you can afford. Since homeowners in Florida have a separate hurricane deductible that you can choose — $500 or 2%, 5%, or 10% of your dwelling coverage limit — you’ll want to figure out how much you’ll be able to afford to pay out of pocket every time you file a claim due to hurricane damage.

  5. Compare quotes from a Policygenius agent. Once you’ve nailed down your coverage needs, limits, and deductibles, a Policygenius agent will walk you through quotes from a few different companies to help you find the best policy for your needs.

  6. Sign the policy and pay your first premium. After you’ve chosen the policy you want, your Policygenius agent will complete all of the paperwork for you. The only thing left to do is sign the policy and pay your first premium. They’ll even cancel your old policy.

Thinking of moving to Florida? Here are the best places to buy a house.

Whether you're thinking of moving to the Sunshine State or investing in Florida real estate, we did the work for you by compiling the 15 best cities to buy a house in Florida based on typical home values, home value appreciation, the vitality of the rental market, and more.

Among the towns that top our list include Spring Hill, Lehigh Acres, Palm Bay, Pine Hills, and Poinciana. You can read our full report of the best places to buy a home in Florida here.

Compare home insurance rates in Florida

We don't sell your information to third parties.

Frequently asked questions

What is the average cost of homeowners insurance in Florida?

The average cost of homeowners insurance in Florida is $220 per month or $2,643 per year.

Why is home insurance in Florida so expensive?

Home insurance is so expensive in Florida because the state is at high risk for severe weather damage due to lightning strikes, hurricanes, tornadoes, wildfires, and more. Since there’s a higher chance of homeowners filing a claim, home insurance companies charge higher rates for this added risk.

How can I lower my homeowners insurance in Florida?

You can lower your homeowners insurance in Florida by taking advantage of discounts offered through your home insurance company. This might mean bundling your home and auto policies together for discounts of up to 30% off your premiums, or adding security systems to get discounts of almost 5%.

Another way to lower your homeowners insurance rates is by opting for a higher deductible. Just keep in mind a higher deductible means you’ll have to pay more money out of pocket when you file a claim before your insurance company kicks in to cover the rest.

Is it mandatory to have homeowners insurance in Florida?

While it’s not legally required to purchase homeowners insurance in Florida, most mortgage lenders require you to purchase home insurance before they’ll extend a home loan to you. This is because they have a financial investment in the property until you pay off your mortgage, so they want to ensure it’s fully protected.

References

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Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of oureditorial standards.

  1. National Association of Insurance Commissioners

    . "

    NAIC Complaint Index

    ." Accessed April 22, 2022.

  2. J.D. Power

    . "

    Home Insurers Struggle with Customer Loyalty as Boomers Flock to Rental Market, J.D. Power Finds

    ." Accessed April 22, 2022.

  3. Insurance Journal

    . "

    From Roof Building Codes to ‘Matching’ Limits, Some Changes Underway in Florida

    ." Accessed April 22, 2022.

  4. Insurance Journal

    . "

    Nicole’s Insured Losses Less Than $1B, but Some Florida Homes Washed Into the Sea

    ." Accessed April 11, 2023.

  5. The Washington Post

    . "

    Insurers slashed Hurricane Ian payouts far below damage estimates, documents and insiders reveal

    ." Accessed April 11, 2023.

  6. Florida Office of the Governor

    . "

    Calling on the Legislature to hold a special session regarding property insurance

    ." Accessed April 11, 2023.

  7. Insurance Information Institute

    . "

    Extreme Fraud and Litigation Causing Florida’s Homeowners Insurance Market’s Demise

    ." Accessed April 11, 2023.

  8. Insurance Journal

    . "

    Florida Regulators Now Reviewing Rate Hikes of 14%, 62% and 103%

    ." Accessed April 11, 2023.

  9. Florida Department of Financial Services

    . "

    Rehabilitation & Liquidation: Companies in Receivership

    ." Accessed April 11, 2023.

  10. The Florida Senate

    . "

    Senate Bill 7052: Insurer Accountability

    ." Accessed April 11, 2023.

Author

Jennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Editor

Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

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