Tower Hill offers the best and cheapest homeowners insurance in Florida, with rates that average $2,443 a year (or $204 a month).
Consider Progressive and State Farm, too, as their discounts and customer service could make them the better choice for some homeowners.
Cheapest insurance companies in Florida
Cheapest home insurance companies in Florida
Tower Hill is the cheapest homeowners insurance company in Florida, offering an average rate of $2,443 a year.
Not only is Tower Hill’s average rate the lowest in the state by far, but it’s more than 40% cheaper than the state’s average price for home insurance.
Insurance companyAnnual rate Tower Hill$2,443 Progressive$3,786 Heritage$4,403 Homeowners Choice$4,539 Universal$4,655 Florida Peninsula$4,695 State Farm$5,180 Citizens Property Insurance Corp.$8,722
The state-run Citizens Property Insurance Corp. is the most-expensive major home insurance option in Florida, at $8.722 a year, but that’s because it exists for homeowners who can’t find affordable insurance elsewhere.
To get the cheapest rate for the amount of coverage you need and want, compare home insurance quotes from several companies.
Best home insurance companies in Florida
Cheapest isn’t always best. According to our research, Tower Hill, State Farm and Progressive are actually the best homeowners insurance companies in Florida.
- Tower Hill is our pick for Florida’s best home insurance company overall, and it also offers the lowest rates.
- State Farm is the best company for customer satisfaction.
- Progressive has the best discounts for Florida homeowners.
Insurance companyAnnual rateCustomer satisfactionComplaint index Tower Hill$2,443 N/A0.26 (Excellent) Progressive$3,786 791 (Poor)0.74 (Above average) State Farm$5,180 829 (Excellent)0.56 (Good)
Customer satisfaction scores are from J.D. Power’s 2023 U.S. Home Insurance Study. Complaint index ratings come from the National Association of Insurance Commissioners (NAIC).
Best overall home insurance company in Florida: Tower Hill
Tower Hill is the best home insurance company in Florida due in large part to it having the lowest rates in the state and the second-lowest NAIC Complaint Index rating.
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Best home insurance company for customer satisfaction: State Farm
State Farm may be the best homeowners insurance company for you if you value customer service and satisfaction.
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Best home insurance company for discounts: Progressive
Progressive has the best discounts from Florida’s top home insurance companies. You might save money on your policy if your home has safety systems or alarms if you pay for the whole year in full, or if you have a new home.
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How much is home insurance in Florida?
Florida home insurance costs $4,329 a year on average. Paid monthly, that comes to $361.
What you pay for homeowners insurance depends on several factors, including:
- Where you live
- The amount of coverage you buy
- Your deductible
- Your credit, insurance and claims history
- The age of your home
One of the best ways to find out how much a policy will cost for you is to compare home insurance quotes from a number of companies.
Florida home insurance rates by coverage amount
The amount of dwelling coverage you buy for your home impacts how much you pay for your home insurance policy.
Dwelling limitAnnual rate $350,000 $3,812 $400,000 $4,329 $450,000 $4,843
If your dwelling coverage limit is $450,000, for example, you will pay an average 27% more for home insurance than if this limit were $350,000.
Florida homeowners insurance rates by city
Tallahassee homeowners pay the lowest home insurance rates among Florida’s biggest cities. The average home insurance cost in Tallahassee is $2,608 a year or $217 a month.
Homeowners in Miami pay $7,889 a year, on average — over three times what Tallahassee homeowners pay.
Meanwhile, Hialeah homeowners pay the state’s highest average home insurance rates, at $9,988 a year.
CityAnnual rate Cape Coral$3,604 Coral Springs$7,695 Fort Lauderdale$7,121 Gainesville$2,747 Hialeah$9,988 Hollywood$7,229 Jacksonville$3,088 Miami$7,889 Miramar$7,810 Orlando$4,177 Pembroke Pines$7,721 Port St. Lucie$4,602 St. Petersburg$2,729 Tallahassee$2,608 Tampa$4,081
Florida homeowners insurance rates by county
Homeowners in Pinellas County pay the cheapest home insurance rates of Florida’s biggest counties. The average rate there is $2,839 a year ($237 a month).
Miami-Dade has the highest average rates for home insurance among Florida counties, at $8,854 a year ($738 a month).
CountyAnnual rate Brevard$3,072 Broward$7,328 Duval$3,063 Hillsborough$4,196 Lee$3,610 Miami-Dade$8,854 Orange$4,178 Palm Beach$4,706 Pinellas$2,839 Polk$4,132
Additional home insurance coverages needed in Florida
Florida state law doesn’t require home insurance, but mortgage lenders usually do.
In Florida, they may require more than standard home insurance. Depending on where you live, you might need flood, windstorm and/or sinkhole coverage as well.
Flood insurance
Standard home insurance policies don’t cover flood damage or destruction. For that, you need separate coverage.
You can buy flood insurance in Florida through the government-run National Flood Insurance Program (NFIP) or from private flood insurance companies.
NFIP flood insurance policies offer up to $250,000 coverage for your home and $100,000 for your possessions. If you need or want more than those amounts, contact private companies.
Windstorm insurance
Although standard homeowners insurance policies usually cover wind damage, yours might exclude it if you live on or near the Florida coast.
Several companies sell windstorm insurance in Florida. If you struggle to find a company that will sell it to you, go to Citizens Property Insurance Corp.
Sinkhole insurance
A typical home insurance policy only covers sinkhole damage if the sinkhole leaves a visible hole in the ground and the damage is such that you can no longer live in your home.
In all other cases, standard homeowners insurance won’t cover sinkhole damage to your Florida home.
To be covered in as many situations as possible, you can buy sinkhole insurance as an endorsement to an existing policy or as standalone coverage.
Methodology
The rates shown in this article are based on non-binding quotes collected from Quadrant Information Services. Average rates were compiled from rates in Florida. The following coverages and deductibles were used unless otherwise noted:
- $400,000 dwelling coverage
- $40,000 other structures
- $200,000 personal property
- $80,000 loss of use coverage
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible
