Best Florida Home Insurance Overview
- Nationwide is Reviews.com’s pick for best home insurance company in Florida, earning a 4 out of 5 in our methodology.
- The best Florida home insurance companies have strong customer satisfaction and financial stability ratings from J.D. Power and AM Best, respectively.
- State Farm, Travelers, Progressive, and Allstate are other top contenders for Florida’s best home insurance company.
For all its beauty, Florida is a state that’s fraught with risk if you don’t protect yourself with the right cheap home insurance. Many homeowners are concerned with how to get cheap home and auto insurance, but before you choose the best company for you, there is much to consider.
We considered the latest ratings and customer reviews, analyzing coverage, pricing, and discount options to offer an in-depth understanding of what cheap home insurance companies offer. Based on the latest data available, these are the best cheap home insurance companies in Florida in 2021, along with our tips on how to get cheap home insurance for your address.
The 5 Best Home Insurance Companies in Florida
- Nationwide: Best Florida Home Insurance for Replacement Coverage
- Allstate: Best Florida Home Insurance for New Homebuyers
- Progressive: Best Florida Home Insurance for Coverage Options
- Travelers: Best Florida Home Insurance for New Homebuyers
- State Farm: Best Florida Home Insurance for Alternative Coverage
Compare the Best Florida Homeowners Insurance Companies
| Reviews.com Score Score is based on company’s customer experience, financial stability, and coverage options. | J.D. Power Customer Satisfaction Score J.D. Power scores are based on surveys for customer satisfaction and product quality. | AM Best Financial Strength Rating AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | Avg. Yearly Premium* | Avg. Monthly Premium | ||
|---|---|---|---|---|---|---|
| Pin Nationwide | 4 | 808 | A+ | $1,128.64 | $94.05 | Show Details PROS
CONS
|
| Pin Allstate | 3.8 | 829 | A+ | $1,322.92 | $110.24 | Show Details PROS
CONS
|
| Pin Progressive | 3.25 | 797 | A+ | $1,240.17 | $103.35 | Show Details PROS
CONS
|
| Pin Travelers | 3.2 | 803 | A++ | $875.99 | $ 73.00 | Show Details PROS
CONS
|
| Pin State Farm | 2.8 | 829 | A++ | $1,702.98 | $141.92 |
Information accurate as of July 2021
*Data provided by Coverage.com
**J.D. Power’s 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Best for Replacement Coverage
Why we chose it
Why we chose it
Pros
- Brand New Belongings® coverage
- On Your Side® annual review
- Law ordinance protection
Cons
- Limited customer support options
- Low customer service ratings
- Extra coverage options can get pricey
Discounts available
- Multi-policy
- Protective device
- Claims-free
- Home renovation credit
- Roof rating
- Home purchase
- Prior insurance
- Gated community
Add-on Coverage
- Better Roof Replacement®
- Replacement cost plus
- Flood insurance
- Earthquake insurance
- Valuables Plus
More Nationwide Insurance Reviews:
Best for New Homebuyers
Why we chose it
Why we chose it
Pros
- Optional manufactured/mobile home insurance
- Flood insurance via the National Flood Insurance Program
- HostAdvantage® coverage for home-sharing
Cons
- Limited add-on coverage options
- Low customer satisfaction ratings
- Among the more expensive providers
Available discounts
- Multi-policy
- Responsible payment
- Claim-free
- Welcome and loyalty
- Homebuyer
- Easy Pay Plan®
- Protective device discount
- Early signing discount
Add-on Coverage
- Personal umbrella policy
- HostAdvantage®
- Manufactured/mobile home insurance
- Flood insurance
More Allstate Insurance Reviews:
Best for Coverage Options
Why we chose it
Why we chose it
Pros
- Nationwide availability
- Name Your Price® tool
- Tons of discounts available
Cons
- Minimal add-on protections
- Serves as an underwriter for third-party providers
- Claims process can vary, depending on partner
Available Discounts
- Bundle auto and home
- Quote in advance
- Alarm systems and safety device
- New purchase
- Documents by email
- New home construction
- Pay in full
- Progressive contractor networks
- Single deductible
Add-on Coverage
- Water back-up
- Personal injury
More Progressive Insurance Reviews:
Best for Additional Coverage
Why we chose it
Why we chose it
Pros
- Significant bundling discount
- Thorough online quoting tool for accuracy
- Nationwide coverage
Cons
- Replacement coverage costs additional
- Limited add-on protections
- Fewer discounts than competitors
Available Discounts
- Multi-policy
- Homebuyer
- Loss-free
- Protective device
- Green home
Add-on Coverage
- Contents replacement cost
- Personal articles floater
- Green home coverage
- Home-sharing coverage
More Travelers Insurance Reviews:
Best for Alternative Coverage
Why we chose it
Why we chose it
Pros
- Specializes in insurance for several property types
- Comprehensive online quoting tool
- Extensive mobile resources
Cons
- Higher premiums than competitors
- May need to call for some policy types
- Restricted discounts
Discounts available
- Multiple line
- Home alert protection
- Roofing
- Higher deductibles
Add-on Coverage
- Personal articles policy
- Manufactured home insurance
- Farm and ranch insurance
- Flood insurance
More State Farm Insurance Reviews:
*Data provided by Coverage.com
**J.D. Power’s 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Average Cost of Homeowners Insurance in Florida
Florida is subject to many threats that can wreak havoc on your home. Its unique peninsula shape leaves it vulnerable to severe weather events, such as hurricanes, tornadoes, windstorms, and flooding. To account for these added risks, even cheap home insurance quotes in Florida are more expensive than in most other states. Therefore, getting quotes from multiple insurance providers could help you find the best price for the coverage that you need.
Top 3 Cheapest Homeowners Insurance Companies in Florida
| Home Insurance Company | Average Annual Premium |
| Security First Ins Co | $493.08 |
| Southern Farm Bureau | $668.16 |
| Travelers | $875.99 |
Average Premium from Homeowners Insurance Companies in Florida
Using Quadrant Information Services data from Coverage.com, we analyzed home insurance companies in the United States and compared the best homeowners insurance rates in Florida. We found that the average premium for home insurance in Florida is $1,465 per year. However, homeowners may be able to find cheap home insurance rates, like $875.99 a year with Travelers.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits in the methodology are as follows:
- Coverage A, Dwelling: $200,000
- Coverage B, Other Structures: $0
- Coverage C, Personal Property: $100,000
- Coverage D, Loss of Use: $40,000
- Coverage E, Liability: $250,000
- Coverage F, Medical Payments: $1,500
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
| Carrier | Yearly Average Premium | Monthly Average Premiums |
| Citizens Property Ins Corp | $ 3,819.17 | $318.26 |
| Heritage Ins Holdings Grp | $ 2,367.94 | $197.33 |
| Florida Peninsula Holdings Grp | $ 2,123.12 | $176.93 |
| HCI Grp Inc | $ 1,902.34 | $158.53 |
| Bankers Ins Grp | $ 1,744.19 | $145.35 |
| Chubb | $ 1,735.76 | $144.65 |
| State Farm | $ 1,702.98 | $141.92 |
| American Integrity Ins Co of FL | $ 1,702.08 | $141.84 |
| St Johns Ins Co Inc | $ 1,673.93 | $139.49 |
| Allstate | $ 1,322.92 | $110.24 |
| UNIVERSAL Ins CO Grp | $ 1,252.50 | $104.38 |
| Progressive | $ 1,240.17 | $103.35 |
| Tower Hill Ins Grp | $ 1,203.18 | $100.27 |
| United Ins Holdings Grp | $ 1,182.45 | $98.54 |
| Nationwide | $ 1,128.64 | $94.05 |
| Armed Forces Ins Exch | $ 1,081.31 | $90.11 |
| ARX Holding Corp Grp | $987.85 | $82.32 |
| Travelers | $875.99 | $73.00 |
| Southern Farm Bureau | $668.16 | $55.68 |
| Security First Ins Co | $493.08 | $41.09 |
Source: Coverage.com
Cost of Florida Home Insurance by Age of Home
| Age of Home (years) | Sample Annual Premium |
| 5 | $3,276 |
| 20 | $3,971 |
| 35 | $4,229 |
| 50 | $4,276 |
| Average Across Ages | $3,938 |
Top 4 most expensive home insurance companies in Florida
| Home Insurance Company | Average Annual Premium |
| Citizens Property | $3,819.17 |
| Heritage Ins Holdings Grp | $2,367.94 |
| Florida Peninsula Holdings Grp | $2,123.12 |
| HCI Grp Inc | $1,902.34 |
Florida Home Insurance: What You Need to Know
In 2020, Tampa’s suburbs saw a record-breaking sinkhole, which shed light on the risk of natural disasters that endanger Florida homes. Windstorm coverage and flood insurance are also things to consider when shopping for cheap home insurance companies in the Sunshine State, especially during hurricane season, which officially runs from June 1 through November 30 each year.
There are also the standard risks that come with homeownership, such as theft, burglary, fire, or even a lightning strike can also disrupt our daily lives. Your homeowners insurance can help protect your finances from the aftermath of these disasters.
Standard home insurance policies include coverage for home, outbuildings and detached structures, personal property and liability. Specifics about your policy can be found on your declaration page. Although home insurance is not required by law in Florida, a robust policy can be a smart purchase because of the risks the homeowners face in this state. Many mortgage companies do require you to carry home insurance on your home. That’s why it can be crucial to find cheap home and auto insurance quotes for your needs.
Flood insurance resources in Florida
With a peninsula state like Florida, there may be an increased need for flood insurance. A standard home insurance policy does not include coverage for flood damage. Instead, homeowners need to purchase Florida flood insurance as either a separate policy or an endorsement added to an existing policy.
If you need flood insurance for your home, you might want to ask your insurance provider whether it provides coverage as an endorsement or a separate policy. Some companies can help you purchase flood insurance separately through the National Flood Insurance Program (NFIP). This is a federal program managed by the Federal Emergency Management Administration (FEMA) and can help ensure that you have all of the necessary coverage you need based on where you live on FEMA’s Flood Map. Working with a licensed agent might help you determine how much coverage you need.
Florida Home Insurance FAQ
Methodology
We evaluated Florida home insurance companies based on availability, customer satisfaction, financial stability, and coverage to determine Reviews.com score and create our best home insurance reviews. To compare home insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:
- Coverage: The more options a home insurance company has for insurance add-ons and coverages, the higher it scores in our methodology.
- Customer Experience: We reviewed the National Association of Insurance Commissioners’ National Complaint Index and compared each homeowners insurance company’s complaint rating.
- Customer Satisfaction: With J.D. Power’s 2020 Home Insurance Satisfaction Study, we assigned a score to each company based on the rating it received.
- Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each home insurance company’s financial stability.
- Discounts: We reviewed and compared the number of discounts advertised on each home insurance company’s website. The more available discounts, the higher the score in this metric.
About the Authors
Lena Borrelli is a freelance writer for Reviews.com. Over the last year, she has covered insurance, finance, and more. She has been featured in TIME with NextAdvisor, Bankrate, The Simple Dollar, MYMOVE, Million Mile Secrets, Coverage.com and more. My favorite article is “How to Invest in Real Estate During COVID?” on Reviews.com.
