Although Florida can be appealing to those who enjoy warm weather, living in the Sunshine State has its hazards, too. The average cost of homeowners insurance in Florida is $2,625 a year, or about $219 a month, according to a NerdWallet rate analysis. And that number is on the rise.
Florida home insurance rates have shot up in recent years due to frequent natural disasters and litigation expenses that insurers pass on to consumers. In the face of heavy losses, many insurers have raised rates, stopped selling policies in Florida or simply gone out of business.
Residents of Florida still have options when it comes to getting homeowners insurance. NerdWallet analyzed data from several insurance companies selling policies in Florida to help you find the best home insurance in the state in the following categories:
Best for affordability: Nationwide.
Best for coverage: State Farm.
Best for having few consumer complaints: Chubb.
Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state. Even if an insurer serves your state, it may not write policies for all homes in all areas.
Why you can trust NerdWallet
Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate inaccuracies in pricing data and may update rates for accuracy as new information becomes available.
We include rates from every locale in the country where coverage is offered and data is available. When comparing rates for different coverage amounts and backgrounds, we change only one variable at a time, so you can easily see how each factor affects pricing.
Our sample homeowner had good credit, $300,000 of dwelling coverage, $300,000 of liability coverage and a $1,000 deductible.
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Best affordable homeowners insurance in Florida: Nationwide
4.5 NerdWallet rating For shoppers seeking a broad range of coverage options, Nationwide may fit the bill. Coverage options About average Discounts Great set of discounts NAIC complaints Fewer than expected 4.5 NerdWallet rating For shoppers seeking a broad range of coverage options, Nationwide may fit the bill. Coverage options About average Discounts Great set of discounts NAIC complaints Fewer than expected
Nationwide
Nationwide
With an average annual rate of $2,480 per year, Nationwide charges less than the state average for homeowners insurance. The company offers a variety of ways to customize your policy. For example, you can add coverage for things like identity theft, high-value items and backed-up sewers and drains.
Another option worth considering is dwelling replacement cost coverage, which can pay up to double your policy limit in case it costs more than expected to rebuild your home after a disaster.
Because Nationwide sells homeowners policies through independent agents in Florida, you can’t get an online quote.
To learn more, read NerdWallet’s Nationwide home insurance review.
Best homeowners insurance in Florida for coverage: State Farm
4.5 NerdWallet rating Well-established insurer with a lengthy list of coverage options. Coverage options More than average Discounts Average set of discounts NAIC complaints Fewer than expected 4.5 NerdWallet rating Well-established insurer with a lengthy list of coverage options. Coverage options More than average Discounts Average set of discounts NAIC complaints Fewer than expected
State Farm
State Farm
As America’s largest insurer, State Farm stands out for its long list of coverage options. Its policies generally include extra dwelling coverage in case it costs more than expected to rebuild your home after a covered disaster. You may also be able to add coverage for things like utility lines, damage from backed-up drains and the breakdown of major appliances.
State Farm offers a free Ting device as a perk for home insurance policyholders. Ting is a smart plug that monitors your home’s electrical network to help prevent fires.
To learn more, read NerdWallet’s State Farm home insurance review.
Best homeowners insurance in Florida for having few consumer complaints: Chubb
5.0 NerdWallet rating Perks and high coverage limits for affluent homeowners. Coverage options More than average Discounts Great set of discounts NAIC complaints Far fewer than expected 5.0 NerdWallet rating Perks and high coverage limits for affluent homeowners. Coverage options More than average Discounts Great set of discounts NAIC complaints Far fewer than expected
Chubb
Chubb
Among the insurers we evaluated in Florida, Chubb drew the fewest complaints to state regulators for a company of its size, according to the National Association of Insurance Commissioners.
Chubb serves mostly affluent policyholders with high-value homes, offering lofty coverage limits and lots of perks. For example, the company covers water damage from backed-up sewers and drains, and pays to bring your home up to the latest building codes during reconstruction after a claim. (Many insurers charge more for these types of coverage.)
If you insure a secondary or seasonal home in Florida with Chubb, you can sign up for the company’s Property Manager service at no charge. With this service, a Chubb representative will inspect your home after a hurricane, report its condition to you, submit a claim on your behalf and help prevent further damage.
To learn more, read NerdWallet’s Chubb home insurance review.
Full list of the best homeowners insurance in Florida
NerdWallet analyzed insurance companies across the state to find the best home insurance in Florida. Here are all of the insurers that received a NerdWallet star rating of 4.5 or higher:
Company | NerdWallet star rating | Average annual rate |
|---|---|---|
Amica | 5.0 NerdWallet rating | Not available |
Chubb | 5.0 NerdWallet rating | Not available |
Auto Club Group (AAA) | 4.5 NerdWallet rating | Not available |
Cincinnati Insurance | 4.5 NerdWallet rating | Not available |
Nationwide | 4.5 NerdWallet rating | $2,480 |
State Farm | 4.5 NerdWallet rating | $2,800 |
USAA* | 5.0 NerdWallet rating | Not available |
*USAA homeowners insurance is available only to active military, veterans and their families. | ||
» MORE: The best home insurance companies
More Florida home insurance companies
Having trouble finding an affordable rate or getting coverage from one of the best Florida home insurers above? Here are a few other companies you can try.
Company | NerdWallet star rating | Average annual rate |
|---|---|---|
Progressive | Not rated | $1,755 |
People's Trust | 3.0 NerdWallet rating | $1,810 |
Tower Hill | 3.0 NerdWallet rating | $1,965 |
Florida Peninsula | Not rated | $2,680 |
American Integrity | Not rated | $2,895 |
Universal Property | Not rated | $3,240 |
Heritage | Not rated | $3,445 |
Homeowners Choice | Not rated | $3,685 |
The insurer of last resort: Citizens Property Insurance Corporation
Although NerdWallet doesn’t have access to average homeowners insurance rates from Citizens, we include it here because many Florida homeowners find themselves with nowhere else to turn for coverage.
Citizens is a government entity created in 2002 by the Florida Legislature to serve as an "insurer of last resort" for eligible homeowners who can't get coverage on the private market. You may qualify for insurance from Citizens if:
You can’t find a standard insurer willing to sell you a policy.
The premiums offered by other insurers are more than 20% higher than the rates offered by Citizens.
Because Citizens pays claims entirely using the money it collects in premiums, a severe storm can be very costly for policyholders. If Citizens finds itself in a situation where it cannot pay out all claims, it’s legally required to charge an assessment of up to 45% of your annual premium to make up for that shortfall. Read our Citizens home insurance review for further details.
» MORE: What to do if you can't afford your homeowners insurance
How much does homeowners insurance cost in Florida?
The average cost of homeowners insurance in Florida is $2,625 per year, or about $219 per month. That’s 37% more than the national average of $1,915.
In most U.S. states, including Florida, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.
In Florida, those with poor credit pay an average of $3,685 per year, according to NerdWallet’s rate analysis. That’s 40% more than Floridians with good credit.
» MORE: What’s the average cost of homeowners insurance?
Average cost of homeowners insurance in Florida by city
You may pay more or less than the state average for your homeowners insurance, depending on where in Florida you live. For example, the average cost of homeowners insurance in Miami is $5,315 per year, while homeowners in Orlando pay about $2,760 per year, on average.
City | Average annual rate | Average monthly rate |
|---|---|---|
Boca Raton | $3,250 | $271 |
Bradenton | $2,100 | $175 |
Cape Coral | $2,450 | $204 |
Fort Lauderdale | $4,775 | $398 |
Fort Myers | $2,445 | $204 |
Gainesville | $1,675 | $140 |
Hialeah | $5,270 | $439 |
Hollywood | $4,785 | $399 |
Homestead | $5,470 | $456 |
Jacksonville | $2,100 | $175 |
Kissimmee | $2,815 | $235 |
Lake Worth | $3,240 | $270 |
Lakeland | $2,605 | $217 |
Miami | $5,315 | $443 |
Naples | $2,600 | $217 |
Ocala | $1,865 | $155 |
Orlando | $2,760 | $230 |
Pensacola | $2,395 | $200 |
Pompano Beach | $4,025 | $335 |
Port St. Lucie | $2,995 | $250 |
Sarasota | $2,180 | $182 |
St. Petersburg | $2,385 | $199 |
Tallahassee | $1,655 | $138 |
Tampa | $2,520 | $210 |
West Palm Beach | $3,160 | $263 |
Why is homeowners insurance so expensive in Florida?
The cost of homeowners insurance in Florida is skyrocketing for several reasons. First, the state sees a lot of expensive natural disasters, such as hurricanes. The higher the risk of damage, the more insurance companies charge.
Second, homeowners insurance rates are rising across the country due to inflation and supply chain issues that make it more expensive to rebuild or repair damaged homes.
But most importantly, insurers in Florida face more lawsuits than in any other state, and the cost of all this litigation trickles down to consumers. Florida has 9% of the country’s homeowners insurance claims but 79% of lawsuits against insurance companies, according to data analysis by the Insurance Information Institute.
In 2022, Florida’s legislature passed three bills designed to discourage lawsuits and stabilize the insurance market, with the hope of reducing prices for homeowners in the long term. In the meantime, however, home insurance costs have continued to rise.
One way to bring down your home insurance cost in Florida is to lower your risk of hurricane damage. The Florida legislature recently approved more funding for the “My Safe Florida Home” program, which provides grants to help homeowners strengthen their homes against hurricanes. But the waiting list for grants can be long.
» MORE: How climate change could make your home harder to insure
What's new in Florida?
The state legislature recently passed a law requiring sellers to tell home buyers whether they've ever filed a flood insurance claim or received federal assistance for flood damage to their property. This could help buyers better understand the risks of owning that home.
What to know about Florida homeowners insurance
Floridians should make sure their homes are covered for some of the state’s most common natural disasters.
Hurricanes and tropical storms
Hurricanes and other tropical storms typically cause two types of damage — wind and water — and a standard homeowners insurance policy may not fully cover them.
Just about every home insurance policy excludes coverage for flood damage. If you’re at risk, consider buying flood insurance through the federal government’s National Flood Insurance Program or a private provider. To check your flood risk, put your address into the Federal Emergency Management Agency's flood maps or visit RiskFactor.com, a website from the nonprofit First Street Foundation.
Did you know...
If you have a homeowners insurance policy from Citizens, you’ll be required to buy flood insurance, thanks to a 2022 law. Learn more about flood insurance in Florida.
» MORE: How to choose the best flood insurance company
Homeowners insurance usually covers wind damage, but those in high-risk coastal locations may have to purchase this coverage separately.
Note that if your homeowners insurance policy does include wind coverage, there may be a separate deductible for claims stemming from a named hurricane. For example, you may have chosen a $1,000 deductible for your policy, but the hurricane deductible may be a higher amount, such as 2% of your dwelling coverage. On a house with $300,000 in dwelling coverage, you’d be responsible for the first $6,000 of any hurricane-related repairs.
🤓Nerdy Tip
By law, Florida insurance companies must offer homeowners insurance discounts to policyholders whose homes are less likely to suffer wind damage. For example, you can save money by adding storm shutters or upgrading how your roof is attached to the rest of your house.
Learn more about hurricane insurance.
Sinkholes
By law, homeowners insurers in Florida must offer coverage for “catastrophic ground cover collapse,” a specific type of sinkhole damage.
In order for this coverage to apply, the incident must meet all of the following conditions:
The ground cover must suddenly collapse.
The depression in the ground cover must be visible to the naked eye.
There must be structural damage to the building’s foundation.
A government agency must order the building condemned and vacated.
Because some sinkhole damage may not meet all these conditions, you may want to add specific sinkhole coverage to your policy.
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Florida department of insurance
The Florida Office of Insurance Regulation oversees the state’s insurance industry. You can use the agency’s website to file a complaint against your insurance company, ask questions and get information about different types of insurance. The agency’s toll-free helpline is 877-693-5236.
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Frequently asked questions
Is homeowners insurance legally required in Florida?
Homeowners insurance isn’t required by law in Florida. However, if you have a mortgage, your lender will likely require you to buy a policy. For more information, read Is Homeowners Insurance Required?
Who provides homeowners insurance in Florida?
Some of the biggest homeowners insurance providers in the state by market share include Universal Property, State Farm, Tower Hill, Florida Peninsula and Tower Hill, according to 2022 data from the NAIC (the most recent data available). Citizens Property Insurance, the state’s insurer of last resort, is also a major provider.
Does homeowners insurance cover hurricane damage in Florida?
Most homeowners policies cover damage from wind but not flooding, meaning you could have a major coverage gap if a hurricane strikes. Flood insurance may be a smart buy. Note that if you live in a high-risk coastal area, your home insurance may not cover wind either. Read your policy or check with your agent to make sure you have the right coverage.
