Average Costs and Cheapest Homeowners Insurance Companies in Florida

MoneyGeek gathered thousands of quotes in Florida and calculated average annual rates. To help homeowners save on premiums, we found the cheapest companies for Florida residents. Based on our findings, Travelers offers the cheapest homeowners insurance in Florida for $250,000 worth of basic dwelling coverage at $1,083 per year. This insurer also offers inexpensive rates to homeowners with pools and bad credit. Allstate is the cheapest if you own an expensive home. ASI is the cheapest for newer homes.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Florida if you want to balance cost and quality.

To find the cheapest homeowners insurance providers in Florida for different dwelling coverages, MoneyGeek gathered thousands of quotes from the top insurance providers in the state. The most affordable homeowners insurance in Florida for a baseline dwelling coverage of $250,000 is Travelers at $1,083 per year.

In Florida, the cheapest companies by dwelling coverage are:

• Cheapest for $100,000: Travelers
• Cheapest for $250,000: Travelers
• Cheapest for $500,000: Allstate

Your home insurance premiums will depend on the replacement cost of your home. You can toggle the table to evaluate how much dwelling coverage meets your needs.

Homeowners insurance in Florida can vary significantly based on your preferred coverage level. The average cost of homeowners insurance in Florida is $2,359 per year for a $250,000 baseline dwelling coverage. As you increase your coverage, your premiums will increase.

In Florida, the baseline dwelling coverage amount is $250,000, and these policies cost an average of $2,359 per year. The lowest dwelling coverage amount of $100,000 costs $1,236 less at an average of $1,123 per year.

To estimate the cost of homeowners insurance in Florida, insurance providers will look at the dwelling value, which is the value of the home as determined by the insurance company, how old the home is and the location, since those that are in locations where they could become damaged will be more expensive to repair.

With MoneyGeek’s calculator, you can adjust to lower or higher dwelling coverage limits, choose a different deductible amount and set other limits as you see fit. Our tool shows how average costs in Florida change according to your requirements.

To help shoppers save on premiums, MoneyGeek gathered thousands of quotes from several providers in Florida for different dwelling coverages.

MoneyGeek’s findings show that the cheapest homeowners insurance in Florida for expensive homes with coverage worth $2 million are from the following providers:

• Allstate: $7,161 per year
• Nationwide: $11,062 per year

Allstate Home Insurance ranked as the cheapest for expensive homes. However, rates can fluctuate for different dwelling coverages, making it important to shop around and compare quotes from several providers.

MoneyGeek averaged thousands of quotes to find the cheapest provider in Florida for newer homes with $250,000 worth of dwelling coverage. We used a sample home built in 2015.

The two most affordable providers in Florida for newer homes are:

• ASI: $778 per year
• Travelers: $875 per year

The average cost of home insurance for newer homes can vary by as much as $489 between houses built in 2015 and 2000.

Keep in mind that the numbers for homes built in 2000 differ from the first section due to a different ZIP code collection process.

For newer homes, home insurance in Florida differs by as much as $489 between houses built in 2015 and 2000. Older homes tend to be more expensive to insure than newer homes. The structural components of an older home may be outdated and/or more prone to weather damage, posing more risk.

Having a pool increases the value of your property, which increases home insurance premiums.

On average, the below companies offer the cheapest homeowners insurance in Florida to homeowners with pools with a baseline dwelling coverage of $250,000:

• Travelers: $1,019 per year
• Nationwide: $1,487 per year

According to insurance providers, pools increase the value of your home and the potential risk of injury on the property. To account for the cost of possible replacement or liability, providers increase premiums.

Keep in mind that not all insurers may cover your pool in your typical dwelling coverage limit, as some may consider it a different structure that requires additional coverage.

Insurance rates in Florida do not increase despite having a pool. The average rate for a home with a pool and a dwelling coverage of $250,000 is $1,569 per year.

Having poor credit doesn’t always guarantee extremely high premiums. MoneyGeek compiled quotes from several providers in the state to get the average cost of homeowners insurance in Florida if you have poor credit.

On average, the most affordable rates for those with poor credit in Florida are the following companies:

• Travelers: $1,083 per year
• Nationwide: $1,480 per year

Homeowners with poor credit tend to have higher insurance rates. Traditionally, people with lower credit are more likely to file a claim or default on payments than people with higher credit scores. Insurance providers take this into consideration when calculating premiums.

Home insurance costs can differ depending on your credit history. Those with excellent credit scores save more on their premiums. In Florida, someone with poor credit is likely to pay as much as $545 more per year in comparison to someone with good credit.

The cost of homeowners insurance can fluctuate depending on where in the state you live. From the most affordable to the most expensive cities in Florida, home insurance can range from $1,318 to $4,582 per year.

The cheapest city in Florida is St. Petersburg, with the most inexpensive policies offered by Allstate at an average cost of $915 per year. The most expensive city in Florida is Hialeah, with the cheapest policies provided by Travelers at an annual average of $1,452. Click on your city to learn more about rates.

To get a binding home insurance quote from an insurance company in Florida, you’ll need to provide basic information like your name, address, phone number and Social Security number. You’ll also need to know the value of your home, along with what’s inside of it and any add-ons you may have like solar energy panels or a pool. If you frequently have guests, you’ll need to factor in how much you need in medical payments coverage should one of your guests get injured. The insurance company will ask you questions and, based on this information, provide a quote.

You can also get an anonymous home insurance estimate using MoneyGeek’s Florida home insurance calculator. These insurance quotes are based on thousands of quotes MoneyGeek compiled for this study.

MoneyGeek analyzed homeowners insurance premiums from 10 of the top insurance companies in Florida that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Florida. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.