Allstate offers Florida homeowner insurance through its Castle Key Insurance Company subsidiary. The carrier may offer the best Florida homeowners insurance for discounts, such as savings for being a new home buyer or having a good payment history. With exclusive and independent agents in nearly 200 cities throughout the Sunshine State, there’s likely an Allstate agent close to you who may be able to help you with your Florida home insurance needs. Allstate agents may also be able to help you work with an insurance broker if they cannot write your policy.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Best homeowners insurance in Florida for 2023
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At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation of . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
What To Know First
Compare the best home insurance companies in Florida for 2023
Finding the best homeowners insurance can be a challenge, especially in Florida’s turbulent market. Bankrate can help. Our insurance editorial team (which includes three licensed insurance agents) uses our almost 50 years of combined industry experience — along with our proprietary premium data, customer satisfaction ratings from J.D. Power and financial strength ratings from AM Best — to reveal the best home insurance companies in Florida for 2023.
Note that some of these companies may be unavailable for Florida homeowners in areas at higher risk for significant weather-related damage. Bankrate’s editorial team confirmed these five Florida homeowners insurance companies are actively writing new policies, but the situation in the Florida home insurance market is rapidly changing. Because Florida homes face unique risks, coverage may be limited to certain ZIP codes, homes of a certain age or homes with specific safety features, like wind mitigation measures.
Insurance company | AM Best | J.D. Power | Average monthly premium | Average annual premium* | |
---|---|---|---|---|---|
Allstate
3.5
Bankrate Score
|
AM Best
A+
(Superior)
|
J.D. Power
815
/1,000 |
Average monthly premium
$134
|
Average annual premium*
$1,602
|
Get a quote |
Chubb
3.5
Bankrate Score
|
AM Best
A++
(Superior)
|
J.D. Power
809
/1,000 |
Average monthly premium
$317
|
Average annual premium*
$3,798
|
Get a quote |
State Farm
3.2
Bankrate Score
|
AM Best
A++
(Superior)
|
J.D. Power
829
/1,000 |
Average monthly premium
$144
|
Average annual premium*
$1,722
|
Read review |
Kin
2.6
Bankrate Score
|
AM Best
Not rated
|
J.D. Power
Not rated |
Average monthly premium
N/A
|
Average annual premium*
N/A
|
Get a quote |
AM Best
Not rated
|
J.D. Power
Not rated |
Average monthly premium
$121
|
Average annual premium*
$1,457
|
Get a quote |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
*Premiums are for $250K in dwelling coverage
Top 5 home insurance companies in Florida
Allstate
Chubb

Chubb may be a good choice for Florida homeowners with high-value homes. A few of its policy highlights include extended replacement cost coverage to rebuild your home or a cash settlement option if you decide not to rebuild after a covered loss. Chubb offers numerous extras included in its policies, which could benefit homeowners, such as tree removal and home inspections. Although its coverage comes at a higher-than-state-average price tag, Chubb offers some of the most robust protection in the state.
State Farm
State Farm, the largest U.S. home insurer based on market share, has local exclusive agents in more than 100 communities throughout Florida, which might be appealing if you like handling your insurance needs in person. State Farm also offers several ways to save on your home insurance. For example, if you take extra precautions by installing impact-resistant roofing materials, you may qualify for a discount.
Kin
Kin’s coverage is only available to homeowners in Florida and Louisiana, states known for significant impacts from natural disasters. Kin uses a unique underwriting formula to price its insurance policies compared to traditional insurers, using permit data, property records and satellite imagery to assess value and risk. The company’s standard coverage is specifically designed to protect homeowners from expensive repair costs associated with numerous perils, including windstorms, fires, smoke, lightning strikes, hail, explosion, theft and vandalism. Flood and sinkhole coverage can be purchased separately as endorsements. Kin is not rated by AM Best but is rated A (Exceptional) by financial-strength rating company Demotech.
Tower Hill
Best for endorsements
Although Tower Hill now offers coverage in 17 states, the carrier was founded in Gainesville, Florida and is intimately familiar with the difficulties of the Florida homeowners insurance environment. The company offers standard policies and options for high-value homes with its Prime Plus and Spire programs. Homeowners may be able to choose from multiple endorsements to personalize their coverage, including screened enclosure coverage, which could come in handy for Florida homeowners with screened porches or patios.
Additional Florida home insurance companies to consider
Florida Peninsula
Who this may be best for: Homeowners who want to support a local company
Florida Peninsula only sells home coverage in the Sunshine State, so it might be a good choice if you want to keep your coverage local. You might choose to keep your coverage relatively basic if budget is your primary concern, or you could choose from an array of endorsements to build a more robust policy. J.D. Power and AM Best do not rate Florida Peninsula because of its smaller market share, but the company, which is based in Boca Raton, carries an A (Exceptional) financial stability rating from Demotech.
Citizens
How Bankrate chose the best home insurance companies in Florida
How much does home insurance cost in Florida?
The average cost of homeowners insurance in Florida is $1,981 per year for a $250,000 dwelling coverage policy. This is about 39 percent higher than the national average premium of $1,428 per year for the same amount of coverage. Keep in mind that your premium will depend on your specific rating profile, which includes factors like your home’s location and features, your claims history, the insurance company you choose, and the specific coverage types and limits you select.
Florida homeowners insurance rates by city
What are the five cheapest states for homeowners insurance?
- Loxahatchee: $1,798 — 9 percent below the state average
- Wellington: $1,804 — 9 percent below the state average
- Canal Point: $1,807 — 9 percent below the state average
- Belle Glade: $1,808 — 9 percent below the state average
- Pahokee: $1,808 — 9 percent below the state average
What are the five most expensive states for homeowners insurance?
Just like some areas are cheaper than others, some areas are far more expensive. These five cities have the highest average home insurance premiums in Florida, based on our data. This could be due to a higher likelihood of claims, a higher cost of claims or both.
- Pensacola: $2,292 — 16 percent above the state average
- Panacea: $2,161 — 9 percent above the state average
- Saint Marks: $2,156 — 9 percent above the state average
- Hallandale: $2,111 — 7 percent above the state average
- Dania: $2,085 — 5 percent above the state average
Average annual premium by dwelling coverage
The amount of coverage you purchase is one of the biggest factors that impacts your home insurance premium. More coverage generally costs more money but also provides more financial protection. Below are the average Florida homeowners insurance rates by coverage level.
Keep in mind, though, that dwelling coverage isn’t the only coverage type on a home insurance policy. Your dwelling coverage covers the structure of your house, while your liability coverage, for example, protects your finances from the fallout of injuries and damage to the property of others that you are found at fault for. Increasing or decreasing either coverage type — or any of the other types of home insurance coverage on your policy — will affect your premium.
Coverage level | Florida's average annual premium |
---|---|
$150K dwelling | $1,290 |
$250K dwelling | $1,981 |
$350K dwelling | $2,675 |
$450K dwelling | $3,375 |
$750K dwelling | $5,608 |
Average annual premiums by deductible levels in Florida
Deductible | Florida's average annual premium |
---|---|
$1,000 | $1,981 |
$1,500 | $1,976 |
$2,000 | $1,760 |
$5,000 | $1,679 |
What does home insurance cover in Florida?
Understanding what your Florida home insurance covers is important when building a policy that meets your needs. Florida is a prime target for tropical storms, and the state endures more hurricane landfalls than any other state in the country. Due to the high possibility of hurricanes and flooding, Florida homeowners should consider the potential damage resulting from these occurrences when choosing their insurance coverage. Here are some of the most common types of damage that cause Floridians to file home insurance claims:
- Floods and water damage: Heavy rains and storm surges can cause extensive flooding and water damage, even to inland locations. However, flood damage is not covered in a standard homeowners insurance policy, so you will likely need to purchase a separate flood insurance policy.
- Wind: In Florida, wind-related damage can be incredibly costly. Home insurance typically includes windstorm coverage, and in Florida, carriers are required to cover hurricanes and tropical storms. However, a separate hurricane deductible is required for named storms and will typically be 1 to 5 percent of your dwelling coverage amount.
- Fire: Hurricanes and extreme weather can cause damage to your home’s electrical system, which might start a fire. The good news is standard home insurance policies cover accidental fire damage, but you should ensure you have enough coverage to pay for your home and belongings in the event of a total loss.
How to get cheap Florida home insurance
- Understand your coverage needs: While finding cheap coverage may be important, price isn’t everything. Before you try to find the lowest-priced policy, be sure you know what kind of coverage and what levels of coverage you need. Undercutting your coverage to get a lower rate could leave you in a stressful situation if you file a claim.
- Shop around: As you can see from the average rates of our top picks, rates vary widely between companies. Shopping around and comparing quotes can help you see how different companies stack up for the coverage you need. Keep in mind, though, that in Florida’s tumultuous home insurance market, some homeowners may struggle to find any coverage and won’t have the option to shop around and compare quotes.
- Utilize discounts: Most insurance companies offer at least a few home insurance discounts, and these savings opportunities are often the easiest way to lower your premium. Common discounts include bundling your auto and home insurance with the same company, having security features like smoke alarms or a monitored alarm system, opting for paperless bills and statements, and having smart home devices.
- Maintain your roof: Newer roofs generally help qualify you for lower rates, since it’s less likely that they’ll be damaged than older roofs. In a state so prone to wind damage, having a newer roof, or at least a well-maintained roof, could help you save.
- Increase your deductible: Your home insurance deductible is the amount you agree to pay out of pocket if you file a claim. Increasing your deductible means you’ll pay more — and the insurance company will pay less — and that usually translates to a lower rate. Just be sure that you can afford the higher deductible amount before you make the change. Also remember that many policies have a separate hurricane deductible that you could increase separately.
When shopping for home insurance, Florida residents may want to work with a local insurance agent for guidance. Some areas of the state present a particularly high risk of weather-related claims, which means that a local company representative may need to be involved in the quoting and application process.
Best home insurance discounts in Florida
Discounts can be a great way to lower your home insurance premium and might help you find the best homeowners insurance in Florida for your needs. Here are some common discounts that Florida homeowners may want to take advantage of:
Discounts and qualifications vary by insurance company, so be sure to talk to your carrier about your specific situation.
Recent news: Florida home insurance market remains volatile
Florida’s home insurance market was incredibly turbulent in 2022. Despite insurance reform bills being passed in late May, the market continued to struggle throughout the year. Additional reform bills were passed in December 2022 that may stabilize the market in the long term, but are unlikely to cause premium decreases for homeowners in the short term.
Insurance companies are finding it difficult, if not impossible, to remain solvent in a state where the risk of widespread damage is high and the risk of crippling litigation is higher. The companies that remain are likely to have to increase rates to maintain sufficient claims reserves to ensure they have the money to handle widespread hurricane claims. This is why it can be tough to find cheap home insurance in Florida; for many homeowners, there simply aren’t enough options available to compare rates.
- Many insurance carriers have voluntarily left Florida, gone insolvent or tightened their underwriting restrictions, making it difficult for many homeowners to find coverage.
- Fraudulent roofing claims are to blame for most of the chaos in the Florida home insurance space.
- Demotech announced that it was considering downgrading the financial strength ratings of 27 Florida property insurance companies, which could cause issues for homeowners with federally-backed mortgages.
- The Florida Office of Insurance Regulation has created a reinsurance program through Citizens as a temporary solution to the downgrade issue.
- The devastating effects of Hurricane Ian are likely to complicate the issues in the Florida home insurance market. It’s possible that more companies will go insolvent or leave the state due to the influx of claims.
- Senate Bill 2-A was signed into law on December 16, 2022. While there are numerous provisions included, the focus of the bill is on banning the assignment of benefits forms that allowed roofing scams to become so common. The bill also abolishes one-way attorney fees. When a court ruled in favor of a plaintiff (an insurer or contractor), these fees meant that the insurer had to pay for the plaintiff’s attorney fees. In Florida, where fraudulent litigation was becoming increasingly problematic, this meant insurers were not only paying fraudulent claims, they were paying for the fraudulent actor’s attorney fees as well. The combination of these two changes is expected to help stabilize the market, although premiums will likely remain high for the time being.
How to find the best home insurance in Florida
Florida is a tough home insurance market. Understanding this before you begin requesting quotes may help you set realistic expectations. If you live in an inland area, you may have more home insurance options, but if you live in a higher-risk area, especially near the coast, your shopping process may be more challenging. These tips could help you secure coverage in the Sunshine State:
- Start shopping early: When shopping for home insurance in Florida, you will likely want to give yourself plenty of time to secure coverage. You may need more time to find a homeowners insurance company that fits your needs due to the nature of the market.
- Check with your preferred provider: Although coverage in higher-risk areas may be restricted, asking if your preferred insurance carrier writes homeowners policies in your ZIP code can’t hurt.
- Talk with a local agency: Local insurance agents are likely to have experience insuring homes in higher-risk zones.
- Work with a broker: An insurance broker works for you, not an insurance company. If you are not sure where to turn to get coverage in a higher-risk area, a broker could help you navigate the complex market.
If you cannot find homeowners insurance coverage, you may need to turn to Citizens Property Insurance Corporation as a last resort. Citizens is Florida’s “Fair Access to Insurance Requirements” (FAIR) plan carrier. Although coverage might not be as robust as a private insurer plan, Citizens typically offers standard coverage to homeowners who have no private market options, but it is not guaranteed based on your risk profile. In some cases, you may need to obtain coverage through a surplus carrier, which is a non-admitted insurer that is not regulated by the state’s Office of Insurance Regulation and can charge above-market rates.