Reviews Report
- Allstate is Reviews.com’s pick for best home insurance company in Florida, earning a 3.8 out of 5 in our methodology.
- Our picks for 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 our 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 home insurance. Many homeowners are concerned with how to get cheap home and auto insurance, but price is not the only consideration when shopping for home insurance in the Sunshine State. Choosing a home insurance company that fits both your coverage needs and your budget is an important step in your financial planning process.
Reviews.com considered the latest ratings and customer reviews and analyzed coverage, pricing, and discount options for the largest insurance providers in Florida by market share. The availability and rates for homeowners insurance in Florida can vary significantly by ZIP code, and not all home insurance companies offer insurance in all areas of the state. Our research provides an in-depth overview of each home insurance company. Based on the latest data available, these are the best home insurance companies in Florida in 2021, along with our tips on how to get cheap home insurance for your situation.
The 4 Best Home Insurance Companies in Florida
- Allstate: Best Florida Home Insurance for New Homebuyers
- ASI Progressive: Best Florida Home Insurance for Online Tools
- Travelers: Best Florida Home Insurance for Additional Coverage
- State Farm: Best Florida Home Insurance for Alternative Coverage
Compare the Best Florida Homeowners Insurance Companies
| Average Annual Premiums* | Reviews.com Score Score is based on company’s customer experience, financial stability, and coverage options. | AM BEST FINANCIAL STRENGTH | J.D. POWER CUSTOMER SATISFACTION** J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|---|
| Pin Allstate | $1,323 | 3.8 | A+ | 829 | |
| Pin ASI Progressive | $1,240 | 3.25 | A+ | 821 | |
| Pin Travelers | $876 | 3.2 | A++ | 800 | |
| Pin State Farm | $1,703 | 2.8 | A++ | 835 |
Information accurate as of December 3, 2021
*Data provided by Coverage.com
**J.D. Power’s 2021 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Allstate
Allstate is a well-known company, and its coverage and discounts may be especially good for new homebuyers in Florida. The welcome, home buyer, and early signing discounts could be appealing to new homeowners. Allstate doesn’t skimp on coverage either, with unique endorsements like yard and garden coverage and electronic data recovery coverage.
Best for New Homebuyers
Why we chose it
Why we chose it
Pros
- Flood insurance via the National Flood Insurance Program
- HostAdvantage® coverage for home-sharing
- Optional manufactured/mobile home insurance
Cons
- Among the more expensive providers
- Limited add-on coverage options
- Low customer satisfaction ratings
Available discounts
- Claim-free
- Early signing discount
- Easy Pay Plan®
- Homebuyer
- Multi-policy
- Responsible payment
- Protective device discount
- Welcome and loyalty
Add-on Coverage
- Flood insurance
- HostAdvantage®
- Identity theft
- Water backup
- Scheduled personal property
- Business property
- Sports equipment
- Green improvement
- Yard and garden
- Electronic data
- Musical instruments
- Personal umbrella policy
More Allstate Insurance Reviews:
ASI Progressive
If you like handling your insurance needs online, Progressive’s home insurance could be a good fit. The company’s HomeQuote Explorer allows you to see rates for several companies, which could save you time as you look for the cheapest home insurance that fits your needs. You might also save for signing up for paperless documents.
Best for Online Tools
Why we chose it
Why we chose it
Pros
- Name Your Price® tool
- Offers a contractor network
- Tons of discounts available
Cons
- Claims process can vary, depending on partner
- Minimal add-on protections
- Serves as an underwriter for third-party providers
Available Discounts
- Alarm systems and safety device
- Bundle auto and home
- Documents by email
- New home construction
- New purchase
- Pay in full
- ASI Progressive contractor networks
- Quote in advance
- Single deductible
Add-on Coverage
- Personal injury
- Water back-up
More Progressive Insurance Reviews:
Travelers
If you are looking for a highly-customizable policy, Travelers could be a great choice. The company offers more optional coverage types than many of its competitors, including coverage for jewelry and valuable items, green home coverage and identity fraud coverage. The endorsements could allow you to tailor your policy to fit your unique needs.
Best for Additional Coverage
Why we chose it
Why we chose it
Pros
- Nationwide coverage
- Significant bundling discount
- Thorough online quoting tool for accuracy
Cons
- Fewer discounts than competitors
- Potential hidden fees
- Replacement coverage costs additional
Available Discounts
- Green home
- Homebuyer
- Loss-free
- Multi-policy
- Protective device
Add-on Coverage
- Contents replacement cost
- Green home coverage
- Personal articles floater
- Special personal property coverage
- Additional replacement cost protection coverage
- Jewelry and valuable items
- Water backup and sump pump discharge
- Identity fraud
More Travelers Insurance Reviews:
State Farm
State Farm is a household name, but the company’s average premiums in Florida are higher than the other carriers we’ve reviewed. However, State Farm may offer peace of mind with its A++ AM Best financial strength rating. If you are looking to consolidate your insurance and banking products in one place, State Farm might be able to help. The company offers numerous insurance and financial products, all through its network of local agents.
Best for Alternative Coverage
Why we chose it
Why we chose it
Pros
- Comprehensive online quoting tool
- Extensive mobile resources
- Specializes in insurance for several property types
Cons
- Higher premiums than competitors
- May need to call for some policy types
- Restricted discounts
Discounts available
- Home alert protection
- Multiple line
- Roofing
Add-on Coverage
- Farm and ranch insurance
- Flood insurance
- Manufactured home insurance
- Personal articles policy
More State Farm Insurance Reviews:
*Data provided by Coverage.com
**J.D. Power’s 2021 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Average Cost of Homeowners Insurance in Florida
Florida homeowners insurance comes at an average cost of $1,464.87 for $200,000 in dwelling coverage, according to data collected by Coverage.com. Your premium will most likely differ from this amount, as it is based on a range of personal information that includes your age and credit rating, along with information about your home, including age and location.
The average rates in Florida are typical for those coastal states that see frequent bad weather, especially during hurricane season. Georgia, for example, also has a high average of $1,819.75, while Alabama is $1,906.60 — both for the same amount of dwelling coverage. All are above the national average cost of homeowners insurance, at $1,124 for $200,000 in dwelling coverage.
Additionally, home insurance rates in Florida vary even more than in other states, depending on where you live. And some home insurers will offer coverage in certain areas in Florida, but not in others. Therefore, getting quotes from multiple insurance providers could help you find the best price for the coverage that you need.
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).
Top 3 Cheapest Homeowners Insurance Companies in Florida
| Home Insurance Company | Average Annual Premium for $200k Dwelling Coverage |
| Security First Ins Co | $493 |
| Southern Farm Bureau | $668 |
| Travelers | $876 |
| Carrier | Yearly Average Premium | Monthly Average Premiums |
| Allstate | $1,323 | $110 |
| American Integrity Ins Co of FL | $1,702 | $142 |
| Armed Forces Ins Exch | $1,081 | $90 |
| ARX Holding Corp Grp | $988 | $82 |
| Bankers Ins Grp | $1,744 | $145 |
| Chubb | $1,736 | $145 |
| Citizens Property Ins Corp | $3,819 | $318 |
| Florida Peninsula Holdings Grp | $2,123 | $177 |
| HCI Grp Inc | $1,902 | $159 |
| Heritage Ins Holdings Grp | $2,368 | $197 |
| Nationwide | $1,129 | $94 |
| Progressive | $1,240 | $103 |
| Security First Ins Co | $493 | $41 |
| Southern Farm Bureau | $668 | $56 |
| St Johns Ins Co Inc | $1,674 | $139 |
| State Farm | $1,703 | $142 |
| Tower Hill Ins Grp | $1,203 | $100 |
| Travelers | $876 | $73 |
| United Ins Holdings Grp | $1,182 | $99 |
| UNIVERSAL Ins CO Grp | $1,253 | $104 |
Source: Coverage.com
Average 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 |
| Heritage Ins Holdings Grp | $2,368 |
| Florida Peninsula Holdings Grp | $2,123 |
| HCI Grp Inc | $1,902 |
Common Home Insurance Perils in Florida
Florida’s 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 Florida home insurance quotes tend to be more expensive than in most other states.
Consider these facts about Florida perils:
- Florida is in the top spot in the National Hurricane Center’s list of Top 10 Most Hurricane Prone States, having been hit by over 100 hurricanes since 1851.
- Florida is one of the seven most likely states in the U.S. to receive damage from sinkholes, according to a U.S. Geological Survey report.
- Florida holds the number two spot in the list of states that are most at risk of flooding, according to National Flood Services.
- Florida also has more than its share of tornadoes, averaging 66 in a typical year.
Florida’s impressive standings in the various lists of bad weather conditions means that you will likely pay more than average for your policy, although your location in the state can have a significant impact on your premium.
Add-on Home Insurance Coverage in Florida
It goes without saying that because of Florida’s volatile weather, robust homeowners insurance Florida is a must-have. But will the standard HO-3 policy (the most common type of home insurance in the U.S.) give you all the coverage you need? Possibly not.
Consider flooding, for example. It is not covered by basic home insurance in Florida, and requires you to purchase a separate flood insurance policy that solely provides financial protection from flood damage. By researching the best home insurance companies in Florida, you can help ensure that you buy a policy that will protect your finances.
Another type of coverage that is usually offered as an endorsement, or add-on, to your homeowners insurance is water and sump pump backup. This coverage is not part of a basic policy in most cases, but can be added. If you live in an area where flooding and sewer backup may impact you, adding the protection can be a financial life-saver.
Other common add-ons include identity theft, coverage for jewelry, musical instruments or high-end technology, and replacement cost coverage, which does not take depreciation into account when you file a claim for personal property.
Florida Home Insurance: What You Need to Know
Living in Florida comes with numerous perks, including the state’s desirable subtropical climate, but it also comes with drawbacks. The peninsula is at risk for heavy rains and high winds — which can happen even outside of hurricane seasons — as well as sinkholes.
Standard risks come with homeownership, such as theft, burglary, fire, or even a lightning strike. Your homeowners insurance may be able to help protect your finances from the aftermath of these disasters. Because Florida homes are at a relatively high risk for several natural disasters, as well as more standard causes of loss, talking to your agent about how your policy will respond to different situations could be helpful. Understanding how your policy works and what situations it covers could help you identify the need to purchase endorsements or additional policies to close coverage gaps.
Flood insurance resources in Florida
As we noted before, a standard home insurance policy does not include coverage for flood damage, which is relatively common in Florida. Instead, homeowners could purchase Florida flood insurance as a separate policy. Flood coverage is occasionally offered as an endorsement added to an existing homeowners insurance policy.
Some home insurance 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 proper coverage based on where you live on FEMA’s Flood Map. Some companies also offer flood insurance outside of the NFIP-backed policies. Just like with home insurance, getting several flood insurance quotes could help you find the policy that works best for you. 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. Scores are out of a possible 5 points. 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 2021 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
Mary Van Keuren has been covering auto and home insurance for Reviews.com for nearly five years, and has published numerous reviews of state-specific insurance trends and how to find the best insurance deals for your money. She earned B.S. and M.A. degrees from Nazareth College in Rochester, N.Y. and has been writing professionally, both in print and online, for 30+ years.
