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Ross Martin

Insurance Writer

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  • 4+ years in the Insurance Industry

Ross joined The Zebra as a writer and researcher in 2019. He specializes in writing insurance content to help shoppers make informed decisions.

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Mark Friedlander

Director, Corporate Communications, Insurance Information Institute

Mark Friedlander has over 30 years of experience in the insurance industry. He is the Director, Corporate Communications, at the Insurance Informatio…

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Kristine Lee

Insurance Analyst

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  • Licensed Insurance Agent — Property and Casualty
  • 4+ years of Experience in the Insurance Industry

Kristine is a licensed insurance agent who joined The Zebra in 2019 as an in-house content researcher and writer. Before joining The Zebra, she was a…

Homeowners insurance in Florida: what you need to know

The average cost for homeowners insurance in Florida is per year or $153 per month.[1] Relative to the rest of the US at $1515, Floridians' home insurance rates are 21% more expensive than average per year. Our data shows that Travelers has the lowest rates in 2024 at $682.

Floridians looking for an insurer with a strong reputation instead of just the lowest price should look to Travelers and People's Trust Insurance as affordable options. However, know that home insurance companies in Florida can be very selective due to risk aversion. We've compiled the most important things Florida homeowners should know about their insurance, including information about natural disasters, common coverage options, and state-specific regulations.

logo of the cheapest home insurance company in Florida, Travelers
Cheapest home insurance in Florida
Citizens Property insurance logo
Most popular homeowners insurance in Florida
Best insurance company for bundling in Florida — Travelers
Best insurance company for bundling in Florida

Coverage against natural disasters in Florida

FEMA, through the National Flood Insurance Flood Program, is the major insurer for hurricane and other flooding areas in Florida.

Hail and windstorms may be covered by most insurance companies, but be certain to double-check your policy and be aware of any additional deductibles that may be required.

Read more about how natural disasters in Florida can impact your homeowners insurance below ↓

What are the cheapest home insurance companies in Florida?

Since 2019, Florida's home insurance rates have seen a 16% climb, mainly due to the hurricanes and other natural events that have hit the state.[1] While rates vary by location and property, our Dynamic Insurance Rating Tool helps us access and analyze annual rate filings, allowing us to determine which insurer typically offers the most affordable homeowners insurance in Florida.

Home insurance rates in Florida vary greatly depending on which insurer you use. In Florida, Travelers offers the best deal on home insurance at just $682 yearly. This compares favorably to Florida's average cost of $1,450 and is even significantly lower than the cheapest home insurance companies in the country.

Based on our internal data, 42% of users in Florida carry between $200k-$300k of dwelling coverage. Have a look at the cheapest home insurance in this range in the table below.[2]

logo of the cheapest company in Florida, Travelers
Cheapest home insurance company in Florida

For an average home insurance quote in Florida, Travelers offers the cheapest premium of $682 per year.[1] This is significantly cheaper than the state average of $1836.

Pros
  • Lowest premiums in Florida

  • Great financial outlook

Cons
  • May be selective in who can get covered

  • Below average customer satisfaction rating from JD Power

Start searching for cheap homeowners insurance by checking out the most affordable Florida companies listed below. Then, see our list of home insurance carriers consumers rated the best for customer satisfaction

Company Avg. Annual Premium
Travelers $682
People's Trust Insurance Company $783
Nationwide $993
Chubb $1,216
Universal Ins Co of N. America $1,348
State Farm $1,583
Tower Hill Group $1,650
ASI $1,718
American Integrity Ins of FL $1,752
Universal P&C Ins Co $1,760
Allstate $1,826
HCI Grp Inc $2,131
Florida Peninsula Insurance $2,138
Heritage Ins Holdings $2,231
Citizens Property Ins Corp $3,957
FL Farm Bureau Group $4,175

The Zebra’s Dynamic Insurance Rating Tool data methodology

The Zebra’s Dynamic Insurance Rating Tool for home and auto insurance rates utilizes the latest ZIP code-level rate filings from across the U.S., sourced from Quadrant Information Services and S&P Global. These filings, typically updated annually or biennially by insurers, are verified through Quadrant’s QA process and then integrated into The Zebra’s estimator.

The displayed rates are based on a dynamic home and auto profile designed to reflect the content of the page. This profile is tailored to match specific factors such as age, location, and coverage level, which are adjusted based on the page content to show how these variables can impact premiums.

For a comprehensive understanding, see our detailed methodology.

What are the cheapest homeowners companies in Florida for new homes

The year your house was built plays a critical role in your homeowners insurance rates. Older homes, especially those built in earlier periods and possibly using outdated construction techniques or plumbing, can often be more costly to insure. This is due to the increased risks associated with materials and methods that no longer meet current standards.

Our data shows that in Florida, insuring a newly constructed home in 2024 is substantially less expensive than covering a home built before 2011. Below is a list of the most affordable insurers in Florida for homes that are newly built.

People's trust is the cheapest company in FL for new homes
Cheapest home companies in FL for new homes

People's Trust is the company that is cheapest for new-build homes in Florida, coming in at $524 per year.

Company Avg. Annual Premium
People's Trust Insurance Company $524
Travelers $556
Nationwide $769
ASI $786
Universal Ins Co of N. America $888
Chubb $945
State Farm $1,009
Tower Hill Group $1,073
Allstate $1,328
American Integrity Ins of FL $1,468
Heritage Ins Holdings $1,576
Universal P&C Ins Co $1,760
Florida Peninsula Insurance $1,944
HCI Grp Inc $1,997
Citizens Property Ins Corp $2,036
FL Farm Bureau Group $2,785

While our data shows People's Trust Insurance as the cheapest home insurance company in Florida for newly-constructed homes, that may not be the case for you or your area. Use this information as a jumping-off point in your search and compare as many companies as possible.

Compare Florida home insurance quotes and companies with The Zebra

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What are the best homeowners companies in Florida?

What defines "best" can significantly differ from one person to another. For those in Florida seeking the ideal home insurance, it's wise to consider a mix of local and national evaluations, including insights from JD Power and AM Best. This approach ensures a broad perspective, blending expert analysis with regional specifics.

To streamline the decision-making process, we've compiled a list of the top home insurance companies in Florida, highlighting their strengths in overall service, bundling options, and coverage for high-value properties. This guide aims to simplify finding the right insurance provider to meet diverse needs and preferences.

Best overall home insurance company in Florida — State Farm
Best overall home insurance company in Florida — State Farm

The latest data from rating agencies show State Farm as a popular and trusted company for Floridians. On a national level, State Farm is ranked fairly high according to JD Power with a score of 829/1000.[3]

Pros
  • Low complaint score from the National Association of Insurance Commissioners

  • Local agents are available

Cons
  • Slightly higher than average premiums

  • May be selective in who it chooses to cover in Florida

Company Avg. Annual Premium Avg. Monthly Premium
Nationwide $993 $83
State Farm $1,583 $132
Allstate $1,826 $152

What are the best companies for home and auto insurance bundles in Florida

If you want to save, consider carrying your home and auto policies with the same insurance company. Bundling auto and homeowners insurance can save you a fair amount each month on your auto insurance policy. In fact, bundling policies in Florida leads to a yearly discount of $76 on average.[1]

best home and auto insurance in Florida — Travelers
Best home and auto insurance in Florida

Travelers is our pick for best home and auto insurance bundle in Florida. Rates for homeowners insurance are typically $86 cheaper when bundling the two together.

Company Bundled Home Insurance Quotes Non-Bundled Quotes Savings
Travelers $596 $682 $86
People's Trust Insurance Company $783 $783 $0
Nationwide $921 $993 $72
Chubb $1,111 $1,216 $105
Universal Ins Co of N. America $1,348 $1,348 $0
State Farm $1,504 $1,583 $79
Tower Hill Group $1,525 $1,650 $125
ASI $1,633 $1,718 $84
Allstate $1,670 $1,826 $156
American Integrity Ins of FL $1,714 $1,752 $38
Universal P&C Ins Co $1,760 $1,760 $0
HCI Grp Inc $2,131 $2,131 $0
Florida Peninsula Insurance $2,138 $2,138 $0
Heritage Ins Holdings $2,231 $2,231 $0
FL Farm Bureau Group $3,741 $4,175 $434
Citizens Property Ins Corp $3,957 $3,957 $0

Best home insurance companies for high-value homes

Much like the concept of the "best company," what qualifies as a "high-value" home is also subjective. However, when it comes to insurance evaluations, sentimental value is set aside in favor of concrete replacement costs. If you're uncertain about whether your home falls into the high-value category, here are some considerations:

  • Property value greater than $750,000
  • Extensive collection of art, jewelry, musical instruments or other valuable collectibles

Our Dynamic Insurance Rating Tool allows us to see average costs for home insurance in Florida for high-value homes — homes with a dwelling coverage value above $400,000. Below are the top and best companies:

Chubb logo, the best home insurance for high-value homes
Best home insurance for high-value homes — Chubb

Chubb Insurance receives solid reviews from AM Best and JD Power for home insurance products. The Zebra can easily recommend them for homeowners who require high coverage limits for valuable items, an area in which Chubb specializes.

Company Avg. Annual Premium
People's Trust Insurance Company $1,666
Travelers $1,957
Nationwide $2,270
Universal Ins Co of N. America $2,493
State Farm $2,880
Chubb $3,078
Allstate $3,254
ASI $3,463
Tower Hill Group $3,814
American Integrity Ins of FL $4,455
Florida Peninsula Insurance $4,876
Heritage Ins Holdings $5,073
Universal P&C Ins Co $5,136
HCI Grp Inc $5,635
Citizens Property Ins Corp $9,099
FL Farm Bureau Group $9,880

Compare homeowners insurance in Florida to find the best policy

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Best home insurance in Florida for natural disasters

Florida is vulnerable to a number of natural disasters. Flooding, hail, tornadoes and hurricanes are regular occurrences in Florida.

Many of these perils are not covered by standard homeowners insurance coverage policies. Below is a guide with tips on how to make insure your home is covered.

Does homeowners insurance cover hurricanes in Florida? — Partially

Because hurricanes can cause damage and destroy property at a massive scale, insurance companies are reluctant to assume the full risk of hurricanes as a whole. If you live in Florida, you could face an increased risk of suffering hurricane damage. In fact, 351,093 single-family residences are at extreme risk of hurricane damage in Florida.[4]

If you own a home near the Atlantic or Gulf coasts, it's essential to confirm the details of your homeowners insurance policy since a basic policy won't typically be enough to cover hurricane damage — you would need to reinforce your policy with windstorm and flood insurance, which would work together to cover the damages. In some states, your insurer may make it compulsory to have a separate hurricane deductible if you live somewhere requiring high-risk homeowners insurance.

Company Avg. Annual Premium
Citizens Property Ins Corp $15,795
Chubb $5,043
Allstate $4,780
Universal P&C Ins Co $4,469
FL Farm Bureau Group $4,340
ASI $3,732
Tower Hill Group $3,690
Florida Peninsula Insurance $3,629
Heritage Ins Holdings $3,538
HCI Grp Inc $3,351
Universal Ins Co of N. America $3,310
American Integrity Ins of FL $3,108
State Farm $2,621
People's Trust Insurance Company $2,509
Nationwide $2,317
Travelers $1,145

Using our Dynamic Insurance Rating Tool, we're able to see the top companies in Florida with hurricane coverage added. Below shows the most popular dwelling amount in Florida with hurricane coverage added:

Hurricane Deductible Avg. Annual Premium
None $1,824
2% $3,825
1% $3,954

In Florida, insurance for hurricane or hail damage often requires you to pay a percentage of your home's insured value before the insurance covers the rest. This is different from other claims, like theft, where you pay a fixed dollar amount. For example, if your home is insured for $189,000 and you have a 5% hurricane deductible, you'd pay $9,450 out of pocket first.

Insurance companies use percentage deductibles to share the risk of expensive damages with homeowners. This approach keeps insurance costs lower for everyone by discouraging small claims and ensuring that funds are available for significant damages when needed.

Does homeowners insurance cover tornadoes in Florida? — Yes

Tornado damage is often covered under the windstorm portion of your policy, which is a standard feature in most homeowners insurance policies. Tornadoes can hit with very little warning. In fact, Florida averages 57 tornado events per year.[5] 

Wind protection provides coverage to a building's exterior and overall structure. Depending on your policy type, you may find that interior damage is only covered when it occurs as caused by exterior damage, like a tree branch breaking a window. Detached structures are also covered, normally about 10% of the home’s insured amount. It's important to remember that some losses brought about by the storm may not be covered. For instance, if the storm that produced the tornado also causes flooding that damages your home, your home won't be covered unless you've specifically purchased flood insurance.

 

Does homeowners insurance cover flooding in Florida? — No

Flood insurance is a necessity for many in Florida, which faced $17,024,301 in flood insurance claims in 2016.[6] Flood damage — whether a byproduct of a downpour or a hurricane — is not covered by homeowners insurance policies. To insure your home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer. 

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

  • $250,000 for your home’s structure
  • $100,000 for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

Do I need flood insurance?

If you have a mortgage or some type of lender, they will often inform you whether or not you're required to carry flood insurance. If you're unsure, you can use FEMA's Flood Map Service Center to see if you live in a floodplain.

However, recent studies have shown that as many as 350,000 properties in Florida that aren't labeled high-risk could face flood hazards. For this reason, FEMA strongly encourages flood protection for many properties in the state.[7]

Does homeowners insurance cover sinkholes in Florida? — Sometimes

In Florida, sinkhole coverage is a critical aspect of homeowners insurance due to the state's geological susceptibility to sinkholes. Like flood insurance, standard homeowners insurance policies typically do not cover sinkhole damage. This is because sinkholes, much like floods, pose a unique and significant risk that requires specialized coverage.[8]

To protect against sinkhole damage, Florida law requires insurance companies to offer coverage for "catastrophic ground cover collapse." However, this coverage is narrowly defined and only applies if the sinkhole causes the home to be condemned and uninhabitable. According to section 627.706(k) of Florida statutes, the law requires that there be “structural damage" that impacts the structural integrity of your home. 

For broader protection, homeowners in Florida can purchase optional sinkhole insurance coverage. This additional coverage is designed to protect against various forms of sinkhole damage, not just the scenarios that meet the stringent criteria of catastrophic ground cover collapse. Homeowners need to understand the terms and coverage limits of any sinkhole policy they consider, as these can vary significantly between insurers.

Optional sinkhole insurance can cover:

  • The repair of the home’s structure
  • Stabilization of the land under the home
  • Contents of the home, depending on the policy

Popular policies & coverage for Florida homeowners

What homeowners insurance options are available in Florida?

A number of coverage options are available to homeowners in Florida. Tiers of coverage are prescribed by the Insurance Services Office (ISO), an advisory organization that develops insurance programs and helps states meet regulation requirements.

Below you’ll find corresponding policy names used by some home insurance companies in Florida:

  • HO-1: Provides basic coverage and covers a home and the property therein against named perils.
  • HO-2: Expands coverage to include additional named perils.
  • HO-3: Covers a home against open perils and your contents against named perils.
  • HO-5: Covers a home and its contents against all perils unless specifically listed.

 

Florida homeowners insurance issues

Availability of insurers

The Florida home insurance market has seen several insurers leaving the market due to the high risk of catastrophic losses from hurricanes. This exodus has left homeowners with fewer options, often leading them to resort to the state-run Citizens Property Insurance Corporation.

Citizens Property is intended as an insurer of last resort for those who cannot find coverage elsewhere, but its growing policyholder base reflects the challenges in the market. Despite legislative efforts to encourage more private insurers to enter or remain in the market, the volatility caused by increasing hurricane frequency and ferocity poses ongoing challenges.

In 2024, a number of new insurance companies were approved to see insurance in the state, hopefully reducing the need for state intervention. According to the Insurance Information Institute's Mark Friedlander, "these new insurers will give consumers choice on shopping their coverage and getting competitive quotes, something we haven't seen in Florida in a very long time."[9]

These companies include:

  • Tailrow Insurance Company
  • Mainsail Insurance Company
  • Orion 180 Insurance Company
  • Orion 180 Select Insurance Company
  • Orange Insurance Exchange
  • Condo Owners Reciprocal Insurance.[10]
Expert insight from Mark Friedlander
Expert insight

"We are seeing positive signs of improvement in the Florida home insurance market after many years of turmoil. This is the result of the strong reforms passed by the Florida Legislature in a special session in December 2022. The reforms addressed the two key factors generating Florida's manmade insurance crisis: legal system abuse and assignment of benefits claim fraud.

"Among the improvements, state-run Citizens Property Insurance Corp. has successfully implemented depopulation, with more than 200,000 policies moving to the private market in the fourth quarter of 2023. Citizens, which plans to move an additional 300,000 policies to private carriers in 2024, is the state's largest home insurer, with more than 1.2 million customers today."[9]

Mark Friedlander — Communications Director, Insurance Information Institute

Florida legislative actions

SB 4D: Streamlining roof repairs and enhancing building safety in Florida

Key features of Senate Bill 4D (SB 4D):

  • Roof repairs simplified: SB 4D adjusts the Florida Building Code to allow partial repairs on roofs without requiring the entire roof to meet the latest code standards. If 25% or more of a roof is repaired, replaced, or recovered, only that section must comply with the current code.
  • Milestone inspections: For buildings three stories or higher, SB 4D mandates structural integrity inspections every 10 years for those aged 30 years (25 if near the coastline). This aims to ensure buildings are safe and structurally sound.

Impact on homeowners and insurance:

  • Reduced insurance claims: By easing roof repair requirements, SB 4D could lead to fewer extensive claims, potentially stabilizing or lowering homeowners' insurance premiums.
  • Building safety: Regular structural inspections may prevent major damages, contributing to a reduction in large-scale insurance claims related to structural failures.

Overall benefit:

SB 4D represents a balanced approach to maintaining Florida's building safety and managing insurance costs. Homeowners can benefit from both the practical aspects of easier roof repair processes and the long-term advantages of improved building safety standards.[11],[12]


Home insurance quotes in Florida by most populated cities

Not all cities in the Sunshine State have the same homeowners insurance rates. Heavily populated coastal areas such as Miami-Dade County are likely to be higher due to increased exposure to hurricane and storm risks. Prices for property insurance also depend on locally specific variables such as the number of local claims filed and the likelihood of perils like vandalism and natural disasters, giving your ZIP code plenty of weight in how much you pay.

Among the major cities, the most affordable home insurance in Florida is found in Tallahassee. An average home insurance policy in Tallahassee costs Floridians just $1,102 each year — $734 less than the statewide average. Have a look at the average annual home insurance rates for some of the biggest cities in Florida.

City Avg. Annual Premium
Tallahassee $1,102
Jacksonville $1,200
Saint Petersburg $1,439
Cape Coral $1,454
Orlando $1,533
Tampa $1,638
Port St. Lucie $1,985
Fort Lauderdale $3,105
Miami $3,568
Hialeah $3,880

Compare homeowners quotes to find the best rates in Florida

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Florida homeowners insurance FAQs

The average cost in Florida home insurance is $153, or roughly $1,836 per year. This is roughly 21% higher than the rest of the United States on average. The increased costs are related to a higher risk of storm damage, as well as a history of abuse in the legal system relating to fraudulent claims.

Given the likelihood of extreme weather events, Florida is a very risky state in which to insure property. As such, many home insurance companies charge higher rates to offset the risk of insuring properties in the state.

Many factors have caused what some have called an insurance crisis in Florida, notably the level of catastrophic losses due to hurricanes. Other factors like a high level of fraud and a challenging state-level marketplace have also contributed. However, recent legislation by the state is meant to create better conditions for carriers in the state in order to move policies from Florida's insurer of last resort, Citizens Property Insurance.

Your ability to get insurance in the state will likely depend on where your home is located and the building materials used to construct it.

Travelers offers the cheapest insurance at $682 per year. However, you may find that many homeowners insurance companies are very selective in the properties that they will cover, leading to many homeowners being denied coverage.

Sources
  1. Data Methodology. The Zebra’s Dynamic Insurance Rating Tool

  2. Anonymized User Survey. The Zebra

  3. JD Power. 2023 US Home Insurance Study

  4. Insurance Information Institute: Facts and Statistics About Hurricanes

  5. NOAA's National Weather Service: Storm Prediction Center

  6. FEMA:Federal Emergency Management Agency

  7. NBC News:Florida Home Not Recognized by FEMA's Flood map

  8. Florida Department of Financial Services: Sinkholes

  9. Mark Friedlander. Personal Interview.

  10. WPTV West Palm Beach: New Insurance Companies Entering Florida

  11. Florida Legislature: Florida Bill HB 3D

  12. Florida Legislature: Florida Senate Bill 4D

Interested in learning more about home insurance?

See what other questions The Zebra's licensed insurance agents have answered!

Does the name on my insurance policy need to match the name on my mortgage loan and deed?

Generally speaking, that shouldn't be an issue for your homeowners insurance company. For the sake of avoiding any sort of confusion down the road, however, it may be beneficial to update your existing accounts with your mortgage provider. In the event of a claim payout there could be a delay …
Jun 24, 2017 Elyria, OH

Can a townhome be covered under an HO-6 insurance policy?

That depends on what parts of the property you are responsible for. If the townhouse shares walls and you are not responsible for the outside of the property but own the townhouse (like a condominium) then you qualify for an HO6. If you own the outside structure, you may need a regular homeowners p…
May 9, 2019 Miramar, FL

Claims that would be covered under a HO3 and not covered HO2?

One example of an HO2 claim that would not be covered under an HO-2 would be any water damage relating to water backup, foundation, or slow leaks. As you mentioned, the HO-2 is a named peril policy. The HO-2 covers 16 perils which are: fire, lightning, wind, hail, explosion, riot/civil commotion, a…
Oct 11, 2018 Sikeston, MO

Is it legal to change homeowners insurance policies without the approval of all parties on the deed?

As long as you're on the deed, you do not need permission from all parties in order to change your homeowners insurance. Keep in mind that anyone with a vested interest could also insure the property how they see fit, but if it is in your name then you're free to alter the policy if you w…
Oct 23, 2019 Houston, TX

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
  • The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.