Best Home Insurance in Florida (2019)

Compare personalized Home insurance rates in Florida

Home Insurance in Florida

Buying the right type and amount of homeowners insurance in Florida is critical. This is your largest investment, and even though Florida homeowners requirements are low, there is no doubt this area sees a significant amount of risk. You need a cheap homeowners insurance plan that also offers plenty of coverage. Here are some tips to help you find it.

Home Insurance Companies in Florida

The very best home insurance companies in Florida provide a high-quality, reliable policy with ample coverage for the risks your home faces. Some homeowners insurance agencies in Florida provide more coverage or different features. That’s why it is so important to compare all of your options before choosing from the top-rated homeowners insurance companies in Florida. Using these tips here and the help of independent home insurance agents in Florida, consider the steps you need to take to find coverage right for you.

 

How to Get the Best Rates for Home Insurance in Florida

The only way to get the best rates in home insurance in Florida is to compare policies based on your home’s needs. To do so, enter your zip code below. You’ll receive a list of companies to request a quote from right now.

 

<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>

 

How Much Does Homeowners Insurance Cost in Florida?

There’s no doubt you want the cheapest home insurance in Florida. Yet, to know which company is most affordable, you need to know what’s a normal price point. The average annual premium in Florida is $1,993, which is one of the highest averages in the U.S. Nationally, the average home insurance policy costs $1,173. To help you find a better rate, get home insurance quotes in Florida from multiple providers.

 

<twitter>The average annual premium in Florida is $1,993, which is one of the highest averages in the U.S. Nationally, the average home insurance policy costs $1,173.</twitter>

 

List of Homeowners Insurance Companies in Florida

To get started, request a list of available companies in the state. You can get a list of homeowners insurance companies in Florida by entering your zip code in the box on this page.

How Homeowners Insurance Is Calculated in Florida

Risk is a big factor in home insurance costs in Florida. Insurers need to know what factors can impact your home’s safety and condition. In Florida, many factors cause rates to be high. Here are a few of them.

 

<qa>1;Crime;Crime is one area of consideration. Specifically, property-related crimes can increase the risk to a home, increasing costs. In Florida, the property crime rate is 25.12 incidents per 1,000 residents. That’s above the U.S. average of 24 incidents per 1,000 residents.</qa>

<qa>2;Weather/Climate;Florida’s weather is known for being warm throughout the year. Yet, its risk of thunderstorms, flooding, hurricanes, and wildfires make it a big risk for insurance companies. This is one of the reasons why home insurance here is so much more expensive.</qa>

<qa>3;Home Values;Your home’s specific value plays a role in how much coverage you need. Higher home values, drive costs up. The median home value in Florida right now in April of 2019 is $233,300. That’s above the national average, which also increases coverage needs.</qa>

Home Insurance Requirements in Florida

Every property owner needs to understand his or her needs in coverage. There are some specific things you should know about Florida home insurance. Here are some key questions many people have.

Is Homeowners Insurance Required in Florida?

The short answer here is no, but there are a few things to know. First, many homeowners associations have requirements. In addition to this, any home with a mortgage will need comprehensive coverage as well. Most lenders require it.

What Does Home Insurance Cover?

In Florida, policy options vary. Most policies cover the basics of protecting the structure itself and your possessions. It also includes liability insurance. Flood insurance is rarely included in a basic policy, though. Some policies also limit hurricane coverage. For this reason, it’s important to work with your agent to create a customized plan.

Homeowners Insurance for New Properties in Florida

If you are building a new home, invest in hurricane- and wind-resistant designs and features. This may help to reduce your overall costs. You’ll also benefit from having home insurance on these new homes in case a storm does come through and damages it.

Homeowners Insurance for Old Properties in Florida

Even if you pay off your home here, it’s nearly always a wise financial decision to maintain home insurance in Florida. It protects your home from the biggest risks.

Renters Insurance in Florida

Renter’s insurance is not a legal requirement in the state of Florida. However, nearly all property owners place a clause or provision within leasing agreements requiring tenants to maintain a plan.

 

This type of insurance is important. It protects you from losses not covered by the property owner’s plan. This includes protections for your possessions and liability claims. Generally, plans are inexpensive at around $30 or lower per month.

 

<zipcode>Compare Renters Insurance in Florida</zipcode>

 

Compare Home Insurance in Florida by City

Finding the cheapest home insurance in Florida should always be your goal. To do this, you need to compare home insurance quotes for your property specifically. However, if you take a look at the following data, you’ll see some of the factors that play a role in costs based on the largest cities in the state.

 

<qa>1;Home Insurance Quotes in Jacksonville, Florida;The largest city in the state, Jacksonville is a northern community with outstanding amenities right on the water. It’s home to 892,062 people. Home values in Jacksonville are a bit lower, at $177,200.</qa>

<qa>2;Home Insurance Quotes in Miami, Florida;Miami’s location puts it at a high risk of property damage due to storms. The community is home to 463,347 people.  The median value for a home in Miami is $339,700.</qa>

<qa>3;Home Insurance Quotes in Tampa, Florida;Tampa is located near the Gulf of Mexico, but still at risk for hurricanes and damaging flooding. The city is home to 385,430 people. For those living in Tampa, the median home value is $222,200.</qa>

<qa>4;Home Insurance Quotes in Orlando, Florida;Orlando is known for its tourism and high quality of life. There are 280,257 residents here. With its international draw and vacationers, the median value of a home here is $241,800.</qa>

<qa>5;Home Insurance Quotes in St. Petersburg, Florida;A high quality of life brings a large retirement community to St. Petersburg. It’s home to 263,255.  The median value of a home here is $210,400.</qa>

 

Bonus: Most Expensive Homes in Florida

For those looking for cheap homeowners insurance, it’s best to avoid these locations. These are the most expensive homes in the state.

 

  • A home known as Gemini in Manalapan is valued at $137.5 million. It sits on a 15-acre ocean-to-lake property.
  • The home at 10 Cannon Point in Key Largo is valued at $95 million and spans 10 bedrooms.
  • Another exceptional option is a home at 1960 S. Ocean Blvd in Estate Section in Palm Beach valued at $56 million.

 

<resources>https://www.reviews.com/homeowners-insurance/florida/;https://www.neighborhoodscout.com/fl/crime;http://statesatrisk.org/florida;https://www.zillow.com/fl/home-values/;http://www.citypopulation.de/USA-Florida.html</resources>