We looked at policy cost, coverage quality, and unique policy offerings for Florida residents to find the best homeowners insurance companies in Florida.
By
Jennifer GimbelJennifer 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.
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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.
But there are other factors you should consider when choosing an insurer. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Florida.
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
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.
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 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
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.
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
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.
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
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 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
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 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
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, UPC Insurance, 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.
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
Methodology
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.
References
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 our
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.
