The cost of Orlando homeowners insurance is on the rise. According to Bankrate’s analysis of average rate data, Orlando homeowners pay an average annual homeowners insurance premium of $1,432 for $250,000 in dwelling coverage in 2022, an increase of more than $200 compared to 2021 rates. However, the average rates may not reflect what you will pay for a homeowners insurance policy. Home insurance companies will typically determine rates based on many factors, including your home’s age, location and other factors.

Savings

Compare rates and save on home insurance today!

ZIP code
Close X
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
Mortgage

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.
Location-Icon
Your information is kept secure
Caret DownCaret Up
Caret DownCaret Up
Field is required
Powered by Coverage.com (NPN: 19966249)
Insurance Disclosure

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.

Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
See more providers in
Choose from insurers in
Mortgage

Leaving so soon? Your custom quotes are just minutes away.

Given the increasing cost of homeowners insurance in Orlando, you may be looking for the best cheap homeowners insurance options to protect your family. Well, the good news is that you don’t typically have to sacrifice coverage or quality for price. There are options for finding affordable coverage that will protect your finances from losses related to covered perils. To get you started, Bankrate has outlined the best cheap homeowners insurance companies in Orlando below based on average rate data provided by Quadrant Information Services.

Best cheap home insurance companies Orlando

To find the best homeowners insurance companies in Orlando, we considered factors like policy offerings, price, discounts, availability and third-party ratings and rankings, including the J.D. Power 2022 U.S. Home Insurance Study. Based on our analysis of these factors and average premium data from Quadrant Information Services, Bankrate found that ASI/Progressive, Southern Farm Bureau and Nationwide offer some of the best cheap homeowners insurance in Orlando. Please note, though, that while we have confirmed all insurance providers on this list do write home insurance policies in Florida, coverage may be limited to certain areas or homes with certain features. You may need to contact a local agent to discuss your options.

We also awarded each provider a Bankrate Score with a maximum score of 5.0. Bankrate Scores are awarded based on how each provider performs based on affordability, availability, claims handling, customer support, financial strength and price. By evaluating the providers using these factors, you may be able to narrow down the options to find the best homeowners coverage in Orlando for your needs at the most affordable price.

Home insurance company Bankrate Score Average annual premium for $250K dwelling coverage J.D. Power score
ASI/Progressive 3.7 $637 801/1,000
Southern Farm Bureau 4.0 $658 Not rated
Nationwide 4.1 $992 816/1,000
Allstate 3.9 $1,412 815/1,000
State Farm 4.7 $1,398 829/1,000

ASI/Progressive

ASI/Progressive offers homeowners the basic home insurance protections they need, including loss of use coverage with the option for water back-up and personal injury protection. Discounts may apply when you bundle home and auto insurance, opt for paperless statements, pay in full, or receive an advance quote. There are also discounts for new home construction and alarm systems. Progressive also has its own network of contractors that may be able to offer discounted pricing if you use their services. But while ASI/Progressive offers some of the most affordable home insurance for Orlando homeowners, it’s worth noting that the carrier ranked lower than many of the other providers in the 2022 J.D. Power Home Insurance Study.

Learn more: Progressive Insurance review

Southern Farm Bureau

Southern Farm Bureau sells home insurance in six states, including Florida. The carrier’s standard home insurance policies are packaged to help protect your property from damage to the structure and to the contents, and the average cost of a policy with $250,000 in dwelling coverage makes it one of the most affordable options. In addition, Southern Farm Bureau also sells flood insurance, which many homeowners may need. However, the provider only sells home insurance policies through four Orlando agents, which could make it a less than ideal option for some homeowners.

Nationwide

While Nationwide ranked 10th in the J.D. Power 2022 U.S. Home Insurance Study, it earned a below average overall customer satisfaction score. Still, Nationwide may be worth a look for some Orlando homeowners. The provider offers the third-lowest average home insurance rates on this list and earned a 4.1 Bankrate Score. Plus, Nationwide’s savings programs offer several ways to save on homeowners insurance, with claims-free, gated community, home renovation, multi-policy, new home purchase, roof rating and smart home discounts. In addition, the carrier’s standard home insurance policies include a few extras that most insurers only offer as an add-on.

Learn more: Nationwide Insurance review

Allstate

Allstate offers unique types of coverage, such as protection for your sports equipment, green improvement reimbursement, yard and garden and electronic data recovery. It can even cover your business property if you bring your work home with you. In addition to manufactured and mobile home insurance, Allstate also offers its HostAdvantage® program for those who need Airbnb insurance, which provides up to $10,000 in personal property protection for home-sharing. To help you save, there are discounts for Responsible and EasyPay payment discounts, plus savings when you are claims-free. Policyholders may also earn a discount by equipping their homes with fire protection and theft devices and by signing up for automatic payments. But while Allstate offers unique perks to homeowners, the insurer has some of the highest average rates of the carriers on our list.

Learn more: Allstate Insurance review

State Farm

Standard State Farm home insurance includes coverage for jewelry and collectibles, in addition to home and garden coverage. There is also protection from random acts and acts of nature, making for well-rounded homeowners insurance for Orlando properties. For more specialized coverage, State Farm offers insurance for manufactured homes, in addition to farm and ranch insurance. To help you save money, you could consider opting for higher deductibles or looking into discounts the company offers for things like bundling policies or installing a home security system. You may also earn a discount if your home is equipped with safety and security devices, such as a burglar, fire or smoke alarms, or by installing an impact resistant roof. However, State Farm’s average homeowners insurance rates are some of the highest on this list, which is also worth considering.

Learn more: State Farm Insurance review

Orlando home insurance options

Homeowners insurance is not required by law, but experts still recommend it for every homeowner. Few people are able to afford the cost of replacement should a complete loss occur. There are several types of homeowners insurance that Orlando homeowners tend to choose:

  • Flood insurance: Flood insurance is not typically covered in the standard home insurance policy. It may be available directly through your insurance provider, or you can purchase coverage through the National Flood Insurance Program.
  • Hurricane insurance: Windstorm coverage is important when you live in Florida, sandwiched between the Gulf of Mexico and the Atlantic Ocean. Orlando is susceptible to high winds and hurricanes that can necessitate extra Florida windstorm insurance.
  • Fire: Home fires can prove devastating to your home’s structure and belongings, but wildfires are not always covered without an add-on policy.

Home insurance discounts in Orlando

Many home insurance companies offer special discounts and savings programs to help you save on your home insurance in Orlando. Before you purchase a new home insurance policy, ask your provider if there are any discounts available, such as these.

  • Individual discounts: Many companies will offer special discounts for seniors, active military and veterans, and members of certain organizations.
  • Loyalty discounts: Often, insurance companies will reward long-time members with loyalty discounts.
  • Bundle discounts: You may also receive extra savings if you have multiple policies with the same provider, such as your car insurance or life insurance.
  • Payment discounts: Payment discounts, like an automatic payment or on-time payment discount, are an easy way to save money on your insurance.
  • Safety and security device discounts: Some providers offer homeowners insurance discounts for homes equipped with safety and security devices, such as burglar alarm systems, fire alarms and smoke alarms.
  • New and renovated home discounts: If you purchase a newly constructed home or renovate your home, your insurer might offer a discount on your home insurance.

Bundling auto and home insurance policies is often the easiest way to reduce your premium, and depending on the insurance company, it could result in the most substantial savings via bundling discounts. You may also earn substantial savings with some insurers by purchasing a newly constructed home or equipping your current dwelling with safety and security devices.

Frequently asked questions

    • There is not one homeowners insurance company that’s the best option for every homeowner. That’s because each person has different needs and wants from their policies or the companies they purchase policies from. When searching for a home insurance company, it may be helpful to look for one that can provide all the coverage options you need. For example, if you live in a flood-prone area, you might need an insurer that sells flood insurance, or if you own valuable belongings, you might want a company that offers optional scheduled personal property coverage. Other factors that may be beneficial to weigh include good financial strength ratings, discount programs or affordable average rates.
    • The average cost of home insurance in Orlando is $1,432 per year for $250K dwelling coverage. The cost of your home insurance will depend on several rate factors, such as where you live, what kind of home you have, the coverage you choose and your credit score.
    • Home insurance is not required in Orlando, although your lender may require that you purchase a minimum amount of coverage to satisfy the terms of your mortgage. Regardless, home insurance is usually recommended, as it protects your home and your belongings if the unthinkable happens.
  • Bankrate utilizes Quadrant Information Services to analyze 2022 current rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage 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).

    These are sample rates and should be used for comparative purposes only. Your quotes will differ.

    Credit: Rates were calculated based on the following insurance credit tiers assigned to our homeowners: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining home insurance rates: California, Maryland, Massachusetts.

    Bankrate Score

    Bankrate Scores are calculated on a five-point scale and primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

    To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from J.D. PowerAM Best, S&PNAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider.

    While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.