Not every insurance company offers cheap homeowners insurance in Florida, so it’s important to do your research before deciding on which insurance company to choose. By choosing an insurer that offers the best cheap homeowners insurance in Florida, you can enjoy peace of mind while knowing that your home and belongings are protected. This article will help you find the best cheap homeowners insurance in Florida that meets your needs and provides the coverage you need at a price you can afford.
Is homeowners insurance required in Florida?
Homeowners insurance is a necessity when you own a home. Although not mandatory in Florida, in most states, it’s required by law and without it, your lender could foreclose on your home or come after you for damages to the property. Thankfully, there are many cheap homeowners insurance companies that offer competitive rates and excellent service.
The cheapest homeowners insurance in Florida
To find the cheapest homeowners insurance in Florida, it is important to start with understanding what you can afford. What your premium should be depends on factors such as where you live, how many bedrooms are in your home, and even how old your home is. Based on nearly 600 policies in Florida with dwelling coverage between $240,000 and $260,000 in the past six months, Goosehead has found the following to be the cheapest homeowners insurance companies.
| Homeowners insurance company | Average annual rates |
| Progressive | $803 |
| Bankers | $876 |
| Cypress | $1,138 |
| Southern Oak | $1,139 |
| Florida Family | $1,233 |
| Universal North America | $1,129 |
| AmWINS | $1,338 |
| American Integrity | $1,342 |
| Security First | $1,563 |
| Tower Hill | $1,574 |
| SageSure | $1,643 |
| Heritage | $1,709 |
| All Risk Limited | $1,806 |
| Citizens | $1,818 |
Best homeowners insurance in Florida, according to customer satisfaction
The following homeowners insurance companies ranked the highest in consumer satisfaction according to J.D. Power
| Homeowners insurance company | J.D. Power ranking out of 1000 points |
| USAA* | 882 |
| Amica Mutual | 854 |
| Auto Club So California (AAA) | 840 |
| Erie Insurance | 835 |
| State Farm | 835 |
| Auto Club Group (AAA) | 834 |
| American Family Insurance | 831 |
| Auto-Owners Insurance | 831 |
| AIG | 830 |
| COUNTRY Financial | 830 |
| Allstate | 829 |
| CSAA (AAA) | 828 |
| ASI Progressive | 821 |
| Farmers | 813 |
| Nationwide | 812 |
| MetLife | 810 |
| Safeco | 810 |
| Liberty Mutual | 806 |
| Chubb | 801 |
| Travelers | 800 |
| The Hartford | 798 |
| Homesite | 779 |
Cheapest homeowners insurance for homes with swimming pools in Florida
According to Insurify, the following are some of the cheapest insurance providers in Florida for homes with pools:
| Insurance Company | Average Annual Premium |
|---|---|
| American Integrity | $947 |
| Bankers Insurance | $1,379 |
| Florida Farm Bureau | $433 |
| Homeowners Choice | $1,525 |
Cheapest homeowners insurance in Florida for homeowners with dogs
| Carrier | Average annual premium |
| Tower Hill | $1,189 |
| Progressive | #1,977 |
| State Farm | $2,227 |
| Universal Property | $2,353 |
| Citizens | $6,019 |
Cheapest homeowners insurance in Florida for homeowners with poor credit
Insurance companies use credit-based insurance to calculate your probability of making a claim. If you have a low credit score, you might have to pay higher premiums than someone who has good credit. Here are some of the most affordable homeowners insurance companies for people with poor credit scores.
| Carrier | Average annual premium |
| Tower Hill | $1,898 |
| Universal Property | $2,353 |
| Progressive | $3,367 |
| State Farm | $3,816 |
| Citizens | $6,019 |
Source: Policygenius
Tips for finding cheap homeowners insurance in Florida
Homeowners insurance is an important part of owning a home, but it can also be a expensive. Here are a few tips to help you find the most affordable homeowners insurance policy in Florida for your needs.
1. Compare quotes from multiple insurers.
2. Look for discounts. Many insurers offer discounts for things like installing security systems or smoke detectors.
3. Consider raising your deductible. This will lower your premium, but you will have to pay more out-of-pocket if you have a claim.
4. Read the fine print. Be sure to understand the coverage you are getting and what is excluded from your policy.
5. Shop around. Homeowners insurance rates can vary considerably from one insurer to the next, so it pays to shop around and compare rates.
Following these tips can help you find an insurance that’s more suitable for your budget.
