For a state known as the Sunshine State, the skies are not always clear in Florida. The state’s bicoastal nature lends itself to beautiful beaches and scenic vistas, but it also means increased susceptibility to severe weather, especially during hurricane season.
Homeowners insurance is vital to safeguard your property, but making sure you have enough coverage at the best price can be a challenge. We’ve assembled the following information to help you understand why rates in some parts of the state are climbing, which insurers are typically among the most competitive in terms of pricing, and what practical things you can do to lower your premiums and get the cheapest home insurance in Florida.
How Average Premiums Compare by Provider
These are ballpark estimates to illustrate average homeowners insurance cost based on recent data and general trends.
| Insurance Provider | Estimated Annual Premium | Coverage or Specialty |
|---|---|---|
| Security First | $3,000 - $5,000 | A Florida-centric provider with good options for the state’s specific regional risks |
| Tower Hill | $3,200 - $5,200 | A Florida-centric provider known for helping homeowners navigate complex risk coverage policies |
| Chubb | $4,500 - $7,000+ | Typically a provider for high-value homes and those with limited comprehensive coverage options |
| State Farm | $3,500 - $6,000 | A large national insurer that offers various discounts |
| Citizens Property Insurance | Varies | A provider backed by the state of Florida that provides coverage for anyone unable to find private insurance |
Keep in mind that your actual insurance premiums will rely on factors including your ZIP code, driving record, coverage limits, and any available car insurance discounts. The best way to find affordable yet high-value homeowners insurance in Florida is to compare personalized quotes.
Cheapest Cities in Florida for Home Insurance
While homeowners in Florida typically pay high homeowners insurance rates, how much more you pay largely depends on where you live within the state. Inland cities with lower exposure to coastal risks have fewer insurance claims, and that tends to result in more affordable homeowners insurance.
For instance, a home in Tallahassee and Gainesville will be cheaper to insure than homes in Miami, Fort Lauderdale, or Tampa. Inland cities are at significantly reduced risk for wind and flood damage, which makes for cheaper homeowners insurance in Florida. Highly populated coastal cities have some of the highest risks of hurricanes and often see higher insurance premiums because of their more direct exposure to wind and water damage.
Must-Have Coverage Features To Look For
The only thing more expensive than good insurance is inadequate insurance. When you’re looking for the most affordable home insurance in Florida, it might be tempting to choose the cheapest insurance policy available, but the lowest price often doesn’t mean the best protection.
Always make sure you have adequate insurance to handle the risks unique to your home. Here’s a look at essential coverage features you should never be without:
- Basic Dwelling Coverage: This protects the physical structure of your home against covered perils like fire, wind, hail, and vandalism. Make sure you have enough coverage to rebuild your house entirely.
- Personal Property Coverage: If you’re like most people, your home is defined by what’s inside it. Cover your personal belongings with a policy that includes items like furniture, electronics, clothing, and appliances. Be aware that highly valuable items like jewelry and art, as well as specialized equipment, may need separate coverage.
- Liability Coverage: This protects you from having to pay medical or legal expenses if someone is injured on your property or if you accidentally cause property damage to others. It covers everything from dog bites to falling trees, so be sure your policy provides adequate protection.
- Loss of Use Coverage: This is a crucial part of any homeowners policy. If a covered event like a fire or hurricane results in your home becoming uninhabitable, loss of use coverage will help pay for additional living expenses like temporary housing, restaurant meals, increased mileage for longer commutes, and other day-to-day necessities.
- Hurricane Deductible: Standard homeowners insurance policies in Florida typically have higher deductibles for damage specifically caused by a hurricane. It’s important to understand how this deductible applies to your specific policy, so ask your provider for details.
- Flood Insurance: This is a big one. Standard homeowners insurance policies don’t cover flood damage. If you live in an area vulnerable to flooding, you should be sure your home is covered with a separate flood insurance policy.
How To Lower Your Home Insurance Premium
It’s not all bad news. Even with rates going up across the state, there are steps you can take to reduce the amount you’re paying and get cheap house insurance in Florida.
Many of the best homeowners insurance companies offer bundling discounts. If you insure your car and home together, you may see much lower monthly premiums. If you can afford it, increasing your deductible will also lower your insurance rate. The higher your deductible, the lower your premium, but bear in mind that you’ll be paying that higher rate out of pocket before your coverage takes effect.
One of the best ways to find the most affordable homeowners insurance in Florida is to comparison shop. Insurance rates are always changing, so it pays to examine your options. Comparing home insurance quotes from different providers might uncover significant savings.
When To Consider Citizens Property Insurance
Some homeowners in Florida may find themselves running out of options when it comes to affordable insurance, and that’s when it may be time to consider Citizens Property Insurance. This is a state-backed insurer of last resort intended to provide coverage for homeowners who can’t get an insurance policy from a private insurance company.
It serves an important role in protecting people who would otherwise be ineligible for homeowners insurance in Florida. However, rates can still be expensive, and it’s usually a temporary solution until private market options become available again.
Compare Home Insurance Quotes in Minutes
Insurance options vary by location, the type of property, and the specific coverage you need. The best way to get the right insurance is to compare quotes from different providers. Getting a custom comparison is always free with EverQuote, and it only takes a few minutes.
Start comparing insurance quotes and find the policy that fits your needs and your budget.