If you’re a Florida resident looking to purchase a home or condo, homeowners insurance is incredibly valuable. In fact, the majority of lenders will require you to take out a policy when you purchase a home. Homeowners insurance, or home insurance, can protect you, your belongings and your home in case of a disaster or other covered loss.
In this guide, the Guides Home Team will provide information about the top homeowners insurance companies in Florida, taking into account the coverage, cost and benefits of each provider. Homeowners insurance rates vary based on your location, square footage and other factors. To get your personalized quote, use our free tool below.
7 Best Homeowners Insurance Providers in Florida
According to 2019 data in the most recent report published by the Insurance Information Institute, the average cost of homeowners insurance in Florida is $1,988, which is higher than the national average of $1,272.
Like State Farm, Liberty Mutual is a top-rated national insurance provider with more than 100 years in business and an A rating from AM Best for financial strength. It does, however, carry a lower J.D. Power score, suggesting that consumer satisfaction is lower.
With the frequency of tropical storms blowing through Florida, we liked that Liberty Mutual offers a hurricane deductible and optional replacement cost coverage for personal belongings. That means anything damaged by a covered peril will be replaced at today’s market price rather than its depreciated value.
Liberty Mutual also offers a suite of discounts that many providers don’t match. You could save on your premiums for a variety of reasons, including remaining claims-free for five years or more or enrolling in a paperless policy.
Pros and Cons of Liberty Mutual Home Insurance
Discounts: Safe homeowner, claims free, online purchase, early shopper, newly purchased home, new/renovated home, new roof, multi-policy, insured to replacement value, paperless policy, preferred payment
Endorsements: Water backup and sump overflow, identity fraud expense, earthquake, blanket jewelry, personal property replacement cost, inflation protection
Get a free quote: Request a quote using Liberty Mutual’s online form.
To learn more: Liberty Mutual Insurance review
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Celebrating 100 years in business and receiving an A rating with AM Best, policyholders have peace of mind that State Farm can pay out claims as promised. The company writes policies using a network of knowledgeable agents that offer a personal touch to the experience.
State Farm bolsters its affordable standard coverage with a variety of endorsements. For example, its additional dwelling add-on allows you to increase your dwelling amount by 25% past your home’s estimated replacement cost.
This is incredibly beneficial if a hurricane or other geographical disaster causes local building costs to rise beyond your estimated replacement cost.
Pros and Cons of State Farm Home Insurance
Discounts: Bundling, claims-free, home security insurance, impact-resistant roofing, higher deductibles, automatic sprinkler
Endorsements: Additional dwelling, backup of sewer or drain, earthquake, fortified roof upgrade, identity restoration, sinkhole collapse, special computer coverage
Get a free quote: Call 360-262-2561
To learn more: State Farm Insurance review
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Allstate is one of our top overall recommendations for home insurance in Florida, scoring high for its customer service, coverage and discounts.
Founded in 1931, Allstate has solidified itself as one of the nation’s leading insurers across several markets, including home and renters insurance. It has an A- rating from the BBB for customer experience and an A+ financial strength rating from AM Best.
Policyholders benefit from 24/7 customer service via local insurance agents and a resourceful online portal for claims and policy management.
In addition to basic dwelling, personal property, liability and guest medical protection, Allstate offers endorsements such as a green-home improvement reimbursement for environmental updates to your home.
Pros and Cons of Allstate Home Insurance
Discounts: Multi-policy discount, responsible payment discount, claim-free discount, welcome and loyalty discount, recent home buyer discount, Easy Pay Plan discount, protective device discount, early signing discount
Endorsements: Identity theft restoration, green-improvement restoration, home-sharing, manufactured and mobile homes, water backup, yard and garden, scheduled personal property, electronic data recovery, business property, musical instruments, sports equipment, flood insurance, personal umbrella insurance.
To Learn More: Allstate Home Insurance Review
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Progressive is the third-largest insurer in the United States and offers property, auto and personal insurance. Progressive has an A+ Superior rating from AM Best, suggesting it is in excellent financial shape.
Florida residents may enjoy the convenience of Progressive, which allows its customers to bundle multiple types of coverage for a discounted rate.
Progressive estimates that customers who bundle home and auto insurance save an average of 4% on their insurance premiums. Progressive offers a robust array of discounts, including discounts for using contractors and repair technicians within Progressive’s contractor network.
Pros & Cons of Progressive Home Insurance
Discounts: Bundling home and auto, alarm systems, automatic indoor sprinkler systems, quote in advance, annual billing, receiving documents by email, new home construction, Progressive contractor network
Endorsements: Flood, water backup, personal liability
To Learn More: Progressive Home Insurance Review
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Chubb is a global premium insurance company based in Switzerland, with domestic headquarters in New Jersey. Chubb is unrated by the BBB, but it has an A++ from AM Best, which suggests you can depend on its ability to pay claims.
Chubb’s rates may be more expensive than many competitors, but its service is often above and beyond what one would normally expect from an insurance company.
Chubb pledges to make contact within 24 hours of a loss, and most claims are paid within 48 hours. In addition, Chubb offers complimentary risk consulting services, through which an agent can examine your home to identify potential weaknesses and preemptively protect your belongings.
Many items and services that are usually additional coverage options are included with a Chubb homeowners insurance policy, such as sump pump backup.
Pros and Cons of Chubb Home Insurance
Discounts: Bundling home and auto, burglar alarm, fire alarm, new house, renovated house, gated community, gated community patrol service, residential sprinkler system, fire-resistant, masonry construction, loss free, storm shutter, suburban rating
Endorsements: Personal liability with coverage up to $100 million, flood protection up to $15 million
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- AM Best rating: NR
- J.D. Power rating: NR
Security First is available only in Florida, and it is dedicated to providing protection against disasters that are prevalent in the Sunshine State, such as hurricanes and flooding.
While it may be smaller than some of the other providers in this review, Security First carries an A+ rating from the Better Business Bureau (BBB) and an A rating for financial strength from Demotech.
The company’s exclusive service in Florida allows it to tailor home insurance coverage to Florida residents and provide them with dedicated local customer service.
Security First offers a hurricane deductible, which can be 2%, 5% or 10% of your dwelling coverage. You can also purchase separate flood insurance from Security First, which is a perk for many Florida residents.
Pros & Cons of Security First Home Insurance
Discounts: Policyholder 55+, secured community, roof shape, indoor sprinkler system, wind-resistant home features, central burglar alarm, age of construction, central fire alarm
Endorsements: Flood coverage, equipment breakdown, identity theft protection, dog liability, personal injury liability, water backup and sump overflow, increased replacement cost, scheduled personal property, golf cart physical damage and liability, screened enclosure and carport coverage, increased special limits coverage
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While Amica is not as large as some of the other insurers on this list, it holds the highest score in J.D. Power’s 2022 study. This suggests an incredibly high degree of customer satisfaction when it comes to paying claims.
Amica offers two tiers of homeowners insurance. Its Standard Choice offers one with standard coverage, such as dwelling, personal property and liability, and one with more extensive coverage.
It also offers dividend policies that pay back a portion of your annual premium. They cost more up-front but return an average of 5% to 20%, allowing policyholders to save money in the long run.
Pros and Cons of Amica Homeowners Insurance
Discounts: Loyalty, claim free, e-discount, multi-line, auto-pay, alarm system, automatic detection devices, new/remodeled home credit
Endorsements: Dwelling replacement coverage, water backup/sump overflow, personal property replacement coverage, special computer coverage, identity fraud, flood insurance, home business insurance
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Which Provider of Homeowners Insurance in Florida Is Best for You?
After an in-depth look at dozens of home insurance providers and policies, we chose Security First as our overall pick in the state as a local company dedicated to Florida’s unique needs.
Though it doesn’t offer discounts as large as its national competitors, Security First’s flexible hurricane deductibles are a useful feature and its add-ons for flood coverage and water backup are competitively priced.
However, it is important to compare options for yourself, as your coverage and costs will vary based on several factors. We recommend getting quotes from at least three insurers before choosing your home insurance policy.
Get instant quotes from insurers by entering your zip code here or calling 855-948-5219.
Factors That Affect Home Insurance Rates in Florida
Florida home insurance rates are affected by the factors below:
- Your location: Home insurance rates can look different from one city or state to the next. Premiums are largely determined by local construction costs, as well as location-specific risks, such as hurricanes. Insurance companies may also consider local crime rates and factor in how close you live to local police and fire stations.
- Replacement cost: Replacement cost is the dollar amount it would take to reconstruct your home with similar building materials. To establish this cost, home insurance underwriters consider your home’s square footage, the number of bedrooms and bathrooms, roofing material and age, as well as local building costs.
- Age/condition: The home insurance company will also ask questions about your home’s age and overall condition to assess risk and set your rates. Because many older homes were constructed with more obscure building materials, electrical wiring and plumbing systems, they can be more expensive to replace. Older homes, specifically roofs, are also more likely to have suffered from damage over time.
- Claims history: If you’ve filed home insurance claims recently, it can indicate to your insurer that you’re likely to file claims in the future. History of filing claims may lead to higher coverage costs. Conversely, individuals with a spotless claims history may be eligible for discounts or a claims-free deductible.
- Credit history: Like your claims history, credit history can play into home insurance rates. If you have a low credit score (580 or lower), you might see higher rates than an individual with a healthier credit score.
- Home updates: When you renovate or remodel your home, it can boost its overall value and replacement cost. Whether you’ve recently completed updates to your home or you’re planning to take on a project in the future, it’s wise to fill your insurer in on the details.
- Dog breed: Home insurance companies typically inquire about your pets when you apply for a policy. Because some dogs are considered to be more likely to show aggression or inflict damage with a bite, they may increase your premiums or be excluded from your policy’s medical and personal liability coverage. Check with your insurer to see which dog breeds it considers high-risk.
- Policy structure: The types and amounts of coverage you choose can alter your rates drastically. For instance, increasing your dwelling coverage and personal property protection can increase your rates. You can lower monthly or annual coverage costs by increasing your deductible; however, you will be expected to pay more out-of-pocket when a claim occurs.
- Security features: The safer your home is, the less likely you will file a claim. As such, arming your house with security features may help you secure lower rates. A home security system, fire alarms, sprinklers, wind- and impact-resistant roofs and deadbolts could protect your home and lower your home insurance costs.
- Discounts: All providers in this review offer discounts on home insurance that can help lower coverage costs. Many of these companies sell multiple lines of insurance and allow you to cut costs by bundling auto and home policies together. Others offer more unique discounts, like AmFam’s legacy discount for young adult homeowners whose parents are covered.
Common Causes of Home Insurance Claims in Florida
Because the Sunshine State and its coastal cities are particularly susceptible to hurricanes, Florida homeowners insurance rates are some of the highest in the country. In fact, more than 100 hurricanes have made landfall in Florida in the last 170 years, more than any other state. Hurricanes often come with storm surges, windstorm damage, lightning and extreme rainfall, leading to costly claims.
Fortunately, these are among the common perils covered by standard home insurance policies. However, homeowners insurance does not cover flood damage and requires a separate policy.
Wildfires are also some of the most commonly declared natural disasters in the state, and your home insurance policy covers them. In addition, if you live in a metropolitan area, you could face a higher risk of theft and vandalism, which are also covered by home insurance policies.
You can reduce the cost of your Florida home insurance policy by taking steps to make your home more wind-resistant, installing storm shutters and adding fire protection such as smoke detectors, alarms and indoor sprinklers.
To get a quote based on your situation, use this online tool or call 855-948-5219.
The Florida Home Insurance Crisis
In recent years, the Florida home insurance market has been in a state of turmoil, with several insurers pulling out of the state, dropping policies and tightening up eligibility requirements. This is partly due to increased fraud, as roofers target homeowners by fabricating roof damage for fraudulent claims.
To reduce the risk of having your policy canceled, Jeff Caesar Chukwuma, founder and senior partner at Chukwuma Law Group in Florida, recommends homeowners “make sure their roof is in good shape by regularly inspecting it and making minor repairs before they become major ones.”
If your budget allows, he also suggests replacing the roof before it reaches the 15-year mark. Additionally, “adding wind mitigation features to your home could be beneficial since state law requires insurers to provide discounts for homes with certain wind protection features, such as hurricane straps and roof-bracing fixtures.”
Governor DeSantis also signed Senate Bill 2D into effect on May 26, 2022. The bill is aimed at providing strapped home insurance companies with financial relief, protecting homeowners from roofing scams and offering grants to help homeowners shield their homes against hurricane damage.
The home insurance companies we recommend in this review have a solid financial reputation and are known for offering dependable coverage to Florida residents.
Do I need flood insurance?
Flood insurance is not included in standard home insurance policies, but it can be essential for Florida homeowners. You can purchase a flood insurance policy from the National Flood Insurance Program (NFIP). Alternatively, a network of more than 50 providers, including Allstate, can assist you in getting quotes and purchasing an NFIP policy.
While the NFIP is a common policy to find, some insurers do offer private flood insurance that usually compares favorably to NFIP coverage. See the table below for a closer look at where you can obtain private flood coverage.
Our team surveyed dozens of home insurance providers and created a scoring system to judge each company’s quality and service. We reach out for sample quotes, both over the phone and on the internet, to simulate an authentic customer experience. Here are the factors that account for our provider reviews:
- Coverage (20%): We analyze each provider’s coverage options, policy endorsements and coverage limits to determine quality of coverage.
- Customer service (15%): We also evaluate each company’s customer service options such as live chat, a customer support phone line and access to agents.
- Technology (15%): Similarly, we score providers based on their digital resources, such as a mobile app, online comparison tools and quote process.
- Reputation (15%): We gauge reputation by evaluating consumer reviews and third-party financial strength and customer experience ratings.
- Additional benefits (15%): Additionally, we weighed each company’s added benefits, including discounts and policy endorsements.
- Cost (20%): Last, we compare cost data for homes across the nation to assess how competitively priced each provider is.
Companies with the best customer service exhibit 24/7 availability, educational resources on their website, useful digital tools and a seamless claims-filing process. Providers that offer extensive discount options, endorsements, customizable coverage options and unique features score significantly higher than those that don’t, putting them toward the top of our recommendations to readers.
Ratings listed in this article are accurate as of October 2022.
A.M. Best Disclaimer
Mike Miller is a writer with a decade of experience producing product and service content to help consumers make informed purchasing decisions. Mike has a bachelor’s degree in creative advertising. In his spare time, Mike enjoys riding and fixing motorcycles, reading a good book and spending time with his wife and two cats.
Rebekah Young is an editor with a decade of experience in educational content and editing. Before joining the Guides Home Team to focus on home services content, she guided content strategy and edited in the insurance, venture capital, financial and health care fields. Rebekah has a bachelor’s degree in communication and English.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.