Like many coastal states, Florida sees a typical pattern of hazardous weather — making it important to find the best home insurance possible for financial protection. Tropical storms and hurricanes can cause serious damage to your home and property, leaving you vulnerable to financial devastation if you cannot cover repair costs with homeowners insurance. Based on our research of top carrier attributes and analysis of data provided from Bankrate.com, Reviews found these may be the four best home insurance companies in Florida for homeowners to consider.
The Four Best Home Insurance Companies in Florida
- Allstate: Best for New Homebuyers
- ASI Progressive: Best for Digital Tools
- Nationwide: Best for Affordability
- State Farm: Best for Customer Satisfaction
To help in your search for home insurance, Reviews.com has compared Florida insurance companies to find the ones that offer the best combination of rate affordability and reputation. We based our selections in this review on our assessment of average annual premium data from Bankrate.com, available coverage options, market share, customer service rankings, discount availability, and financial strength ratings.
Compare the Best Home Insurance Companies in Florida
According to Reviews.com’s study, the four best home insurance companies in Florida are Allstate, ASI Progressive, Nationwide, and State Farm. You may find one or more of these insurers can offer you a robust, cost-effective policy that will protect your home and possessions in the event of a disaster.
| Average Annual Premium* | AM Best 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. | J.D. Power** J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|
| Pin Allstate | $1,411 | A+ | 829 | |
| Pin ASI Progressive | $863 | A+ | 821 | |
| Pin Nationwide | $909 | A+ | 812 | |
| Pin State Farm | $1,535 | A++ | 835 |
Information accurate as of September 2022
*2022 premium data provided by Bankrate.com. Based on $250,000 dwelling coverage.
**J.D. Power’s 2021 U.S. Home Insurance Study. Based on a 1,000-point scale.
Best for New Homebuyers
Why We Chose it
Why we chose it
Pros
- Numerous discounts that may reduce rates significantly, especially for new homebuyers
- Above-average J.D. Power ranking
- HostAdvantage® coverage protection offered for home-sharing
Cons
- Average premium is higher than some other companies
- Limited optional coverages
Other Policies Offered
- Renters
- Condo
- Auto
- Motorcycle
- Identity Protection
Standout Discounts Available
- Responsible payer
- Claim-free
- Welcome and Loyalty
- Home buyer
Best for Online Tools
Why We Chose it
Why we chose it
Pros
- Unique digital tools, such as Homequote Explorer®
- Low average annual rate
- Scores high on J.D. Power’s Digital Experience Study
Cons
- Limited optional coverages
- Doesn’t underwrite its own homeowner policies
- Below-average customer satisfaction ranking from J.D. Power
Other Policies Offered
- Flood
- Mobile home
- Renters
- Auto
- Boat
Standout Discounts Available
- New purchase
- Pay in full
- Quote in advance
- Safety and alarms
Best for Affordability
Why We Chose it
Why we chose it
Pros
- Strong financial strength rating
- Credit card coverage included in basic policy
- Better Roof Replacement® coverage
Cons
- Not available in all states
- Below-average customer service ratings
- No mobile or manufactured home coverage
Other Policies Offered
- Renters
- Condo
- Classic car
- Auto
- Pet
Standout Discounts Available
- Gated community
- Roof rating
- Home renovation
- Prior insurance
Best for Customer Satisfaction
Why We Chose it
Why we chose it
Pros
- High ranking in J.D. Power Customer Satisfaction Survey
- Excellent financial health rating
- Good online tools and informational blog
Cons
- Higher average annual premium compared to other insurers
- Limited discounts
- New policies not available in Massachusetts or Rhode Island
Other Policies Offered
- Auto
- Motorcycle
- Off-road vehicles
- Renters
- Farm and ranch
Standout Discounts Available
- Multiple line
- Home security devices
- Roofing materials
*2022 premium data provided by Bankrate.com. Based on $250,000 dwelling coverage.
**J.D. Power’s 2021 U.S. Home Insurance Study. Based on a 1,000-point scale.
The Average Cost of Home Insurance in Florida
According to 2022 average annual premium data from Bankrate.com, Florida homeowners pay an average cost of $1,648 per year for $250,000 worth of dwelling coverage. The average across the entire U.S. is $1,383 per year, making Florida one of the more expensive states to purchase homeowners insurance. This is largely due to the high number of storms and hurricanes that impact the state, especially in coastal regions, leading to costly damages and claims. For comparison, here are the top cheapest and most expensive companies we found in Florida.
Top 3 Cheapest Home Insurance Companies in Florida
| Company | Average Annual Premium* |
| Security First Insurance Co. | $341 |
| Southern Farm Bureau | $636 |
| ASI Progressive | $863 |
*Data from Bankrate.com
Top 3 Most Expensive Home Insurance Companies in Florida
| Company | Average Annual Premium* |
| The Hanover | $4,487 |
| Heritage P&C Insurance Co. | $2,661 |
| Florida Peninsula Insurance Co. | $2,591 |
*Data from Bankrate.com
Key Things to Know About Home Insurance in Florida
If you’re a Florida homeowner, a useful source of information is the Florida Office of Insurance Regulation website, which features help for consumers, including hurricane season resources and a rate comparison tool. The National Weather Services website also features hurricane safety tips and more to help you before, during, and after a hurricane sets down in your area.
Home Insurance Coverage Options
You may find it most helpful to talk with your insurance agent regularly to ensure that you have enough coverage for the financial protection you need, as well as the right kinds of coverage for your property. Optional coverage types, also called endorsements, may be available to help you round out your financial protection. One option is flood insurance since flood damage is not part of the average homeowners insurance policy. Given the commonality of tropical storms and hurricanes, Florida homeowners may be required to have flood policies in place in some areas or as part of the lender requirements.
Frequently Asked Questions
Methodology
We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, and coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors:
- Customer Ratings — Customer ratings are an indication of satisfaction with the overall experience with a company. We measured this using 2021 J.D. Power Home Insurance Study ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength ratings indicate a positive history of being able to pay out claims. We measured this using AM Best ratings.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the National Association of Insurance Companies National Complaint Index.
Rates are based on 2022 quoted annual premiums from Bankrate.com. Rates are weighted based on the population density in each geographic region. These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
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.
