Cheapest Homeowners Insurance in Florida 2022

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Finding the cheapest home insurance in Florida requires getting quotes from multiple home insurance companies.

Home insurance companies don’t devise rates in all the same way. One may put a greater emphasis on one metric, such as a home’s claims history, while not caring as much about another, such as a person’s credit. That’s one reason why it pays to get quotes from multiple insurance companies.

We found that Travelers has the cheapest homeowners insurance rates in Florida with an average annual premium of $1,762 or $147 per month for $300,000 dwelling and $300,000 liability coverage with a $1,000 deductible.

Let’s take a look at the cheapest homeowners insurance in Florida and how to find the best home insurance rates.

Key Takeaways

Travelers offers the cheapest homeowners insurance at $$1,762 per year in Florida for $300,000 dwelling coverage, $300,000 liability protection and $1,000 deductible.
Tallahassee in Florida offers the cheapest homeowners insurance at $2,215 per year.

Cheapest homeowners insurance companies in Florida

Home insurance costs are a vital part of finding a homeowners insurance policy. Who has the cheapest homeowners insurance in Florida?

Travelers, First Florida and Nationwide are the cheapest homeowners insurance companies in Florida, on average.

Here are average Florida homeowners insurance rates for a policy with $300,000 dwelling coverage and $300,000 liability protection with a $1,000 deductible.

Company	Average annual rate	Average monthly rate
Travelers	$1,762	$147
First Florida	$2,907	$242
Nationwide	$3,587	$299
Castle Key	$3,921	$327
Heritage	$3,978	$332
Universal	$4,168	$347
State Farm	$4,237	$353
Citizens	$4,607	$384

Best homeowners insurance companies in Florida

Going without sufficient homeowners insurance is a no-no, especially in a state like Florida, where hurricanes and extreme weather can pose a significant threat to your property.

The challenge for Florida homeowners is that premiums can differ widely, depending on the carrier, the age and condition of your home, your creditworthiness and other factors. That’s why the experts agree: it’s a smart move to shop around to look for cheap homeowners insurance and compare policies and coverages from different insurance providers carefully.

But which insurer is the best homeowners insurance in Florida for you? Here’s more about the three cheapest Florida homeowners insurance companies, on average:

Travelers

Headquarters: Hartford, Connecticut
Founded: 1864
Contact: (800) 842-5075, Travelers.com/home-insurance, Agent.travelers.com/fl
Available: In all 50 states
Discounts available: Multi-policy (up to 12%), claims-free, homebuyer, protective device, early quote, green home (up to 5%)
Other types of insurance offered: Auto, renters, condo, travel, umbrella, landlord
Insure.com score: 4 out of 5 stars
Better Business Bureau rating: A+
A.M. Best rating: A++
J.D. Power rating: Below average (score — 808 out of 1,000)

Travelers’ basic homeowners policy includes coverage for your dwelling, other structures, personal property, liability and loss of use. Insure picked Travelers as the Best Home Insurance Company for price in our 2021 review of the Best Home Insurance Companies. This insurance carrier featured the lowest rates for coverage among those polled.

Also, Travelers had a low level of complaints filed with state regulators. Consider that 90% of customers surveyed by Insure revealed that they expected to renew with Travelers, while two in three said they would recommend Travelers homeowners insurance to friends. Those percentages show a high level of customer satisfaction.

First Floridian Auto and Home Insurance Company (Travelers)

Headquarters: Tampa, Florida
Founded: 1996
Contact: (800) 842-5075, Travelers.com/home-insurance
Available: In Florida
Discounts available: Multi-policy, claims-free, homebuyer, protective device, early quote, green home
Other types of insurance offered: Auto, renters, condo, travel, umbrella, landlord
Insure.com score for Travelers: 4 out of 5 stars
Better Business Bureau rating for Travelers: A+
A.M. Best rating for Travelers: A++
J.D. Power rating for Travelers: Below average (score — 808 out of 1,000)

First Floridian Auto and Home Insurance Company is an affiliate company of Travelers that launched 25 years ago to operate in Florida exclusively. This insurer offers policies and standard included coverages similar to its parent company (see listing for Travelers above).

Nationwide

Headquarters: Columbus, Ohio
Founded: 1926
Contact: (877) 669-6877, Nationwide.com/personal/insurance/homeowners, Agency.nationwide.com/fl
Available: In all states except Alaska, Hawaii, Louisiana, Massachusetts, New Jersey and New Mexico
Discounts available: Multi-policy, protective device, claims-free, home renovation credit, roof rating, gated community
Other types of insurance offered: Auto, motorcycle, life, umbrella, dental, identity theft, travel, business
Insure.com score: 4 out of 5 stars
Better Business Bureau rating: A+
A.M. Best rating: A+
J.D. Power score: Slightly below average (808 out of 1,000)

Nationwide’s standard homeowners insurance policies include coverages for dwelling, liability, personal property, additional living expenses and medical payments to others. Additionally, this insurer will rebuild your home at current building code requirements as part of standard coverage.

Nationwide’s average bundle rate saved customers 25% on their coverage, according to our research, which is more than other major Florida home insurance companies analyzed in our rate analysis. Bundling is when you combine your home and auto insurance policies with one company.

Also, 85% of customers said they planned to renew their policies with Nationwide and 73% said they’d recommend Nationwide to a friend, too.

Cheapest homeowners insurance in Florida by city

Tallahassee has the cheapest homeowners insurance, among large cities surveyed, with average rate of $2,215 per year, which is $185 per month. Here are how Florida cities rank for average home insurance rates:

City	Average annual rate	Average monthly rate
Tallahassee	$2,215	$185
Gainesville	$2,518	$210
Jacksonville	$2,799	$233
Orlando	$3,425	$285
Port St. Lucie	$3,639	$303
Tampa	$3,915	$326
Miami	$4,083	$340
Hialeah	$4,543	$379
Fort Lauderdale	$5,070	$423

Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.

Home insurance rates in Florida by city

How much is home insurance in Florida?

The average cost of homeowners insurance in Florida is $3,439 for $300,000 dwelling and $300,000 liability with a $1,000 deductible. Only Oklahoma and Kansas have a higher cost of homeowners insurance. The average Florida home insurance costs are $1,134 more than the national average.

Multiple factors play a role in homeowners insurance cost, including:

Location, including ZIP code
Level of coverage
Home construction and age
Your claims history
Your home’s claims history
The area’s claims history
Deductible
Credit history

How much does home insurance claims increase your rates?

Some of these factors are beyond your control. One metric that you can influence is claims. Here are the top average home insurance percentage premium increases based on claims:

Filing a second fire claim — 60%
Filing a second theft claim — 55%
Filing a second liability claim — 52%
Filing a second water damage claim — 50%
Filing a second medical claim — 34%
Filing a second weather claim — 29%
Filing a fire claim — 29%
Filing a theft claim — 27%
Filing a liability claim — 25%
Filing a water claim — 25%
Filing a medical claim — 18%
Filing a weather claim — 17%

Homeowners insurance covers claims, but it’s not always a good idea to file a claim. For instance, say you had an item stolen from your home that’s only worth a few hundred dollars and your deductible is $500. In that case, it’s not worth filing a claim and paying a deductible that’s about the same amount as the stolen property. You may also see your home insurance rates increase in that case.

So before filing a home insurance claim, figure out how much you’ve lost in terms of stolen or damaged items and property. You may find it makes more sense to pick up the loss yourself rather than go through your insurance company.

How much does flood insurance cost in Florida?

The average annual flood insurance cost in Florida is $543.65. That figure is based on dividing the number of policies and the total policy cost from the National Flood Insurance Program (NFIP), which is part of the Federal Emergency Management Agency.

NFIP said there are more than three million flood insurance policies in Florida. That’s the most for any state by far. Texas is in second with a little over one million policies.

Florida gets battered by tropical storms, so it’s understandable why so many Floridians have flood insurance.

Homeowners insurance generally doesn’t cover flood damage from outside the home. Home insurance will likely help if a burst pipe damages your home. However, a rainstorm that leaves three feet of water in your finished basement isn’t generally covered by home insurance.

Instead, you need a separate flood insurance policy. NFIP and private insurance companies sell these policies.

Flood insurance cost is based on your home’s risk. A home in a flood zone and along the coast will likely pay much higher rates than an inland home not in a flood zone.

If you’re interested in flood insurance, you should look for a policy well before you may need it. Flood insurance doesn’t take effect for 30 days after purchase. Insurance companies implement the waiting period to prevent homeowners from getting flood insurance as a major storm barrels toward them.

How to get the cheapest home insurance in Florida

Make no mistake: home insurance rates vary considerably by insurer, even for the same property. That’s why it’s recommended for you to make an apples-to-apples comparison and shop around, advises Laura Adams, a Vero Beach, Florida-based home insurance expert.

“Various factors affect home insurance rates, such as your home’s age, location and construction. Plus, personal factors play a significant role, such as whether you smoke and have good credit,” she says. “Since different carriers evaluate all these factors differently, it’s in your best interests to hunt around and compare multiple home insurance quotes.”

Joshua Haley, founder of Moving Astute, says doing your research can save you a significant amount on homeowners insurance.

“Compare online quotes, talk to your friends and reach out to insurance agents in your area,” notes Haley. “This will help you understand what you will likely pay for your insurance coverage. And it will give you a better idea of how different carriers stack up against each other in terms of coverage, as well.”

Best practices for saving money on homeowners insurance

Want to keep more greenbacks in your wallet? You can save big on homeowners insurance by following proven strategies that can trigger reduced homeowners insurance premiums.

“Different insurers offer different discounts, so be sure to ask what you are eligible for and take advantage of as many as possible,” says Adams.

She adds that common discounts include being a nonsmoker, upgrading your home’s plumbing and electrical systems and living near a local fire department.

Jim Pendergast, senior vice president of altLINE by the Southern Bank, a lender in Birmingham, Alabama, suggests implementing safety/security devices.

“Improving your home’s security can influence the insurer to lower its premiums — sometimes by as much as 15% when you invest in a security system,” he says.

Having a wind mitigation inspection of your roof may also lead to a lower premium, Haley points out.

Look into other techniques that can yield savings, too, such as implementing a smart water device.

“This device, equipped with a sensor, will shut off your water automatically if it detects something wrong,” says Carolyn Rummel, president of Florida operations for Meadowbrook Insurance Agency in Sarasota, Florida.

If you have an older roof in need of replacement, it’s best to complete this project before requesting homeowners insurance rate quotes.

“Many carriers will not insure a home with a roof older than 10 or 15 years. You may receive a renewal with your current carrier if they are aware that your roof is older, but a new carrier may not want to insure you or may quote you a very high premium,” cautions Rummel.

Last, ponder raising your deductible. Haley says the higher the deductible, the lower the premium.

“As a Florida homeowner, you can raise both your standard deductible and your hurricane deductible to reduce your premium. Just make sure you adjust your deductible in a manner that won’t leave you in financial disarray should you ever need to make a claim,” Haley says.

Frequently asked questions by Florida homeowners

Does homeowners insurance cover hurricanes?

Yes, home insurance generally covers hurricane damage. However, if you live in an area prone to hurricanes, an insurance company may exclude that coverage. Make sure you read your policy to look for a hurricane exclusion.

Another exception is flood damage; you need a separate flood insurance policy to cover flood damage.

An insurer may also exclude homeowners insurance coverage for wind damage if you live in an area prone to major windstorms.

Florida is one of 19 states with hurricane deductibles. A hurricane deductible is between 1% and 5% of the dwelling coverage amount. Your policy specifies the percentage.

Here’s an example — you have $300,000 worth of dwelling coverage and a 2% hurricane deductible on your policy. That would mean you have to pay a $6,000 deductible if you file a hurricane-related claim.

Are you required to have windstorm insurance in Florida?

No, you’re usually not required to have windstorm protection unless a mortgage lender demands that coverage.

Windstorm insurance can still be a smart decision if you live in an area prone to windstorms. Without that coverage, you could wind up having to pay for damage yourself.

You may also be allowed to exempt windstorm coverage in your home insurance policy. Why would you want to do that? It may decrease your home insurance rate.

If that option interests you, make sure to give serious thought to the issue. Going without wind coverage could leave you with a hefty repair bill if your home gets damaged in a windstorm.

Instead, see if you can get a separate windstorm policy at a cheaper rate than what that coverage costs in a standard home insurance policy.

Does homeowners insurance cover sinkholes?

Yes, home insurance can cover sinkholes, but it depends on the individual homeowners policy.

Sinkholes are a problem in the Sunshine State and state law says insurers must offer sinkhole coverage. However, that doesn’t mean that coverage must be on all home policies.

Sinkhole coverage is often a policy endorsement and that increases the policy costs.

Homeowners insurance companies may refuse sinkhole coverage if your home is considered at high risk of a sinkhole. The Florida Department of Financial Services’ Sinkhole Neutral Evaluation Program allows for third-party professionals to review disputes with insurers about sinkhole coverage.

What can you do if you can’t find homeowners insurance in Florida?

If you struggle to find a home insurance company to cover your property, another option is a Fair Access to Insurance Requirements (FAIR) Plan.

The program from the Citizens Property Insurance Corporation offers policies to high-risk properties that insurance companies won’t cover.

Your property may be deemed high risk if:

Your home has many recent insurance claims
You’re in an area often hit by hurricanes or windstorms
You’re in a high-crime area
Insurance companies won’t cover you because of the state of your home

How much is home insurance in other states

Alaska$1,799/Year

Alabama$2,981/Year

Arkansas$3,439/Year

Arizona$1,976/Year

California$1,166/Year

Colorado$3,082/Year

Connecticut$1,961/Year

Washington D.C.$1,488/Year

Delaware$1,521/Year

Georgia$2,555/Year

Hawaii$499/Year

Iowa$2,540/Year

Idaho$1,842/Year

Illinois$2,201/Year

Indiana$2,423/Year

Kansas$3,931/Year

Kentucky$2,862/Year

Louisiana$3,270/Year

Massachusetts$1,920/Year

Maryland$1,518/Year

Maine$1,833/Year

Michigan$2,153/Year

Minnesota$3,010/Year

Missouri$3,111/Year

Mississippi$3,340/Year

Montana$2,809/Year

North Carolina$2,009/Year

North Dakota$2,601/Year

Nebraska$3,133/Year

New Hampshire$1,455/Year

New Jersey$1,744/Year

New Mexico$2,299/Year

Nevada$1,486/Year

New York$1,840/Year

Ohio$2,107/Year

Oklahoma$4,445/Year

Oregon$1,608/Year

Pennsylvania$1,720/Year

Rhode Island$2,125/Year

South Carolina$2,678/Year

South Dakota$3,172/Year

Tennessee$2,692/Year

Texas$3,429/Year

Utah$1,378/Year

Virginia$1,956/Year

Vermont$1,212/Year

Washington$1,514/Year

Wisconsin$1,732/Year

West Virginia$2,486/Year

Wyoming$2,083/Year

Les Masterson

Contributor

Les, a former managing editor, insurance, at QuinStreet, has more than 20 years of experience in journalism. In his career, he has covered everything from health insurance to presidential politics.