The Best Cheap Homeowners Insurance in Fort Lauderdale, Florida for 2024: Quotes and Reviews

Insurance companies tend to offer similar basic coverages in their policies, such as sewage, drainage system backup, cyber incidents and identity theft. Therefore, when choosing a policy, homeowners may want to prioritize cost as their top consideration, as cheap homeowners insurance with the same coverages can provide the best value for money.

The cheapest insurance companies in Fort Lauderdale for home insurance with a dwelling coverage of $250,000 are the following:

• Nationwide: $1,110 per year
• Universal North America: $1,507 per year

For home insurance policies with a dwelling coverage of $2 million, the following are the cheapest insurance companies in Fort Lauderdale:

• Allstate: $7,744 per year
• Nationwide: $8,304 per year

You can see how the dwelling coverage limit impacts the cost of home insurance in the table below.

Policies with the initial baseline dwelling coverage have personal property limits of $100,000 and those with a dwelling coverage of $2 million have personal property limits of $800,000. Liability coverage for all policies is $100,000. If you’re living in another city in Florida, other options for home insurance in Florida are available.

The average cost of home insurance in Fort Lauderdale is $2,568 per year. This is slightly more than the average cost of home insurance in Florida of $2,359 per year and the national average of $2,103 per year.

Aside from location, your dwelling coverage, personal property coverage and credit score impact the cost of your home insurance quote in Fort Lauderdale. MoneyGeek's home insurance calculator allows you to compare quotes from different insurance companies in your state to see how these factors affect the cost of your policy.

When shopping for homeowners insurance, cost is one of the top considerations for a homeowner. However, customer service and financial stability are also important factors to consider. Quality customer service will make filing a claim less stressful for you, especially if you're dealing with a difficult situation. Your financial stability may also determine the insurance policies that are available to you.

Home insurance companies in Fort Lauderdale were ranked by MoneyGeek based on affordability, customer satisfaction and financial stability. Based on our ranking, these are the best homeowners insurance companies in Fort Lauderdale:

• Best Overall: Nationwide
• Runner-up: Travelers

Newly built homes are constructed with modern materials that are more resistant to damage and easier to repair. Because of this, newly constructed homes are cheaper to insure than older homes. A newly constructed home in Fort Lauderdale costs an average of $1,767 per year to insure, while a home built in 2000 costs $2,568 per year.

The cheapest insurance companies for a newly constructed home in Fort Lauderdale with $250,000 in dwelling coverage are the following:

• Nationwide: $678 per year
• ASI: $861 per year

Your personal belongings are also covered under your home insurance policy and the value of your personal property impacts the cost of your insurance. In Fort Lauderdale, the average cost of home insurance with personal property limits of $250,000 is $2,919 per year. On the other hand, it would only cost an average of $2,568 per year for a personal property coverage limit of $100,000.

The cheapest insurance companies in Fort Lauderdale for those with personal property coverage limits of $250,000 are the following:

• Nationwide: $1,298 per year
• Universal North America: $1,713 per year

A policy with a higher deductible may reduce the cost of your annual payment, but you'll have to pay more out of pocket if you ever need to file a claim.

In Fort Lauderdale, a $2,000-deductible policy costs an average of $2,226 annually while a policy with a $1,000 deductive costs $2,568 annually.

The cheapest insurance companies in Fort Lauderdale for policies with $2,000 deductibles are the following:

• Nationwide: $936 per year
• Universal North America: $1,306 per year

Insurance premiums are more likely to be higher for those with poor credit scores. The home insurance cost for those with poor credit in Fort Lauderdale is $3,281 per year, whereas good credit homeowners insurance costs only $2,568 per year.

The cheapest insurance companies in Fort Lauderdale for those with poor credit are the following:

• Nationwide: $1,110 per year
• Travelers: $1,559 per year

Homeowners insurance quotes in Fort Lauderdale are available online, but the insurer will require additional information to provide an accurate quote. For an online quote, you'll need the following information:

• The replacement cost of your home: The amount required to repair or rebuild your home is known as the replacement cost. You can acquire an estimate from a construction professional and this amount will determine your dwelling coverage limits.
• The value of your personal property: Personal property coverage limitations are determined by the value of your belongings. So, it’s important to know how much your things are worth.
• Personal information: Your address, information about the people living in your home, specifications of your home, your insurance history and other information are required by insurers.
• Information about your house: You'll need to know the size of your home, the year it was built, safety measures and other notable features. These will be required by the insurer in order to provide you with a quote.

MoneyGeek compared home insurance rates from ten different companies in Fort Lauderdale. We collected data and quotes through our partnership with Quadrant for a home with varying coverage levels to generate affordability scores.

Quotes for homeowners with newly constructed houses, additional dwelling or personal property coverage, larger deductibles, and low credit ratings are also included in our research. J.D. Power surveys provided the data for customer satisfaction ratings.

We selected a base profile of a 2,500-square-foot home built in 2000, with $250,000 in dwelling coverage. The base profile also included $100,000 in personal property coverage, $100,000 in liability coverage and a $1,000 deductible.