The Best Cheap Homeowners Insurance in Fort Lauderdale, Florida for 2022: Quotes and Reviews

The average cost of home insurance in Fort Lauderdale, Florida, is $2,568 per year or $214 per month, but rates can vary significantly by company. Nationwide offers the cheapest insurance at $1,110 per year, while Citizens offers the most expensive insurance at $7,246 per year. That means you can save up to $6,136 annually on home insurance by shopping around.

MoneyGeek ranked the best homeowners insurance in Fort Lauderdale based on cost and quality to help you find the company that has the right balance for you.

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Last Updated: 9/25/2022
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The Cheapest and Best Homeowners Insurance in Fort Lauderdale

The Cheapest Home Insurance Companies in Fort Lauderdale

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.

The Cheapest Home Insurance in Fort Lauderdale, Ranked

Dwelling Coverage:

$250,000

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Insurance Rates

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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 Homeowners Insurance in Fort Lauderdale for 2022

Fort Lauderdale$2,568
Florida$2,359
U.S.$2,103

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.

Calculate the Cost of Home Insurance in Fort Lauderdale

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.

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Home Insurance Calculator

State

Florida

Dwelling Coverage

$250,000

Deductible

$500

Liability

$300,000

Personal Property

$50,000

Credit Score

Excellent
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on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

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The Best Home Insurance Companies in Fort Lauderdale

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

1
Nationwide
Score:94

5/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability

Geek Quick Take
Geek Quick Take

Based on our ranking, Nationwide is first in affordability, second in customer service and fourth in financial stability. A policy in Fort Lauderdale costs $1,110 annually and covers roof replacement.

More About Nationwide

Roof replacement coverage is not always included in the policies of other insurance companies. Nationwide, on the other hand, covers the cost of replacing your roof after a loss. Depending on the age and the kind of roof you’re using, Nationwide can give you a discount for this home project. This coverage will only apply if you have intentionally added it to your policy.

Read MoneyGeek's Nationwide home Insurance Review
2
Travelers
Score:92

4.8/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take
Geek Quick Take

Travelers ranks first in financial stability, second in affordability and sixth in customer service satisfaction. In Fort Lauderdale, a policy costs $1,559 annually and offers coverage for upgrades in the energy-efficient features of your home.

More About Travelers

The energy efficiency coverage of a Travelers home insurance only comes into play when you have added it to your policy. It includes coverage for repairs and other reconstruction jobs for eco-friendly materials. This coverage applies after you incurred a loss. A 5% discount can also come with this if you have a certification for being an environmentally conscious home.

Read MoneyGeek's Travelers home Insurance Review

Cheapest Home Insurance Companies in Fort Lauderdale for Newly Constructed Homes

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
The Cheapest Home Insurance in Fort Lauderdale for New Homes, Ranked

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Cheapest Home Insurance Companies in Fort Lauderdale if You Have a Lot of Personal Property

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
Cheap Companies in Fort Lauderdale for Extra Personal Property Coverage

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Cheapest Home Insurance Companies in Fort Lauderdale for High Deductibles

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
The Cheapest Companies in Fort Lauderdale for High Deductibles, Ranked

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Cheapest Home Insurance Companies in Fort Lauderdale if You Have Poor Credit

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
The Cheapest Companies in Fort Lauderdale for Poor Credit, Ranked

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Getting Online Homeowners Insurance Quotes in Fort Lauderdale

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.
Insurance Rates

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Homeowners Insurance in Fort Lauderdale Analysis: Methodology

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.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.