The Best Cheap Homeowners Insurance in Fort Myers, Florida for 2022: Quotes and Reviews
The average cost of homeowners insurance in Fort Myers, Florida, is $1,878 per year or approximately $157 per month, but costs vary by company.
Travelers offers the cheapest annual insurance rates at $836 per year, while Citizens has the most expensive annual insurance rates at $5,612. Due to cost discrepancies between companies, homeowners can save up to $4,776 annually by shopping around.
MoneyGeek ranked the best homeowners insurance in Fort Myers to help you find quality insurance without breaking the bank.
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The Cheapest and Best Homeowners Insurance in Fort Myers
The Cheapest Home Insurance Companies in Fort Myers
When it comes to choosing a policy, pricing might be a major consideration for homeowners in Fort Myers, as most insurers offer the same basic coverages at different rates. For both pricing and quality, buying less expensive insurance with the same coverages may give you more bang for your buck. MoneyGeek identified cheap homeowners insurance that may fit your budget.
The cheapest insurance companies in Fort Myers for home insurance with $250,000 in dwelling coverage are the following:
- Travelers: $836 per year
- Chubb: $959 per year
For those with expensive homes, the cheapest companies in Fort Myers for home insurance with $2 million in dwelling coverage are the following:
- Allstate: $5,939 per year
- Chubb: $7,382 per year
The table below shows you how prices can change depending on the dwelling coverage limits of your policy.
The Cheapest Home Insurance in Fort Myers, Ranked
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Personal property limits of $100,000 are included in all of the policies with the initial baseline dwelling coverage. Personal property limits of $800,000 are included in all plans with a dwelling coverage of $2 million. The liability coverage on all insurance is $100,000. You can find additional information about home insurance in Florida if you’re living in another city.
The Average Cost of Homeowners Insurance in Fort Myers for 2022
In Fort Myers, the average cost of home insurance is $1,878 annually. This is cheaper than the average yearly rate in Florida and in the United States of $2,359 and $2,103, respectively.
Calculate the Cost of Home Insurance in Fort Myers
The cost of homeowners insurance in Fort Myers varies based on where you reside. Other factors that impact the cost of home insurance include the amount of dwelling coverage, personal property coverage, and homeowner’s credit score. Because of this, it’s important to consider these factors when looking for a quote.
MoneyGeek's home insurance calculator allows you to easily compare homeowners insurance quotes in your state.
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These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Fort Myers
While cost may be the most important consideration when looking for home insurance, customer service and financial stability should also be taken into account. The quality of a company's customer service influences the type of experience you will have while filing a claim and your current financial stability determines which policies are available to you.
Based on MoneyGeek’s ranking according to affordability, user satisfaction and financial stability, these are the best homeowners insurance providers in Fort Myers:
- Best Overall: Travelers
- Runner-up: Chubb
Our scoring system has given Travelers a perfect score for affordability and financial stability. It comes sixth in our customer service rankings. A policy costs $836 per year and covers the costs for eco-friendly repairs at home.
Under their energy efficiency upgrade coverage, Travelers offers coverage for repair and rebuilding using eco-friendly materials after a loss. It also gives homeowners a 5% discount when they receive a “green home” certification. It’s important to note that this coverage is an add-on, meaning it is a feature that is not automatically included in the policy. If you wish to take advantage of this feature, you will need to add it to your policy.Read MoneyGeek's Travelers home Insurance Review
Chubb ranks first in financial stability, second in affordability and seventh in customer service. Its rates have an average of $959 per year and under its policies, you can receive a cash settlement following a loss.
If your home is destroyed in a total loss, Chubb gives you a cash settlement, meaning you can just take the money rather than reconstruct your home. This is an optional add-on feature, so it is not included in the standard policy. Under Chubb, homeowners who live in a gated community can also receive a discount.Read MoneyGeek's Chubb home Insurance Review
Cheapest Home Insurance Companies in Fort Myers for Newly Constructed Homes
Newly constructed homes are built with modern materials that are easier to replace and more resistant to damage. As a result, newly constructed homes are less expensive to insure since homeowners are less likely to incur loss or damage.
Insuring a newly built home costs an average of $1,293 per year while insuring a home built in 2000 costs $1,878 per year.
The cheapest insurance in Fort Myers for newly constructed homes with $250,000 in dwelling coverage are the following:
- ASI: $600 per year
- Travelers: $718 per year
The Cheapest Home Insurance in Fort Myers for New Homes, Ranked
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Cheapest Home Insurance Companies in Fort Myers if You Have a Lot of Personal Property
Personal property is also covered by home insurance. However, the greater the value of your personal property, the higher your homeowners insurance premiums will cost. Personal property limits of $250,000 with a standard insurance cost an average of $2,135 per year in Fort Myers, compared to an average of $1,878 per year for $100,000 in personal property coverage limits.
The cheapest insurance companies in Fort Myers for those with personal property coverage limits are the following:
- Travelers: $933 per year
- Chubb: $1,229 per year
Cheap Companies in Fort Myers for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Fort Myers for High Deductibles
A greater deductible lowers the annual cost of your home insurance, but it also raises the amount you pay on your own when you file a claim. A policy with a $2,000 deductible costs $1,628 per year on average, whereas a policy with a $1,000 deductible costs $1,878 per year.
The cheapest insurance companies in Fort Myers for those with $2,000 deductible policies are the following:
- Travelers: $741 per year
- Chubb: $803 per year
The Cheapest Companies in Fort Myers for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Fort Myers if You Have Poor Credit
Homeowners are rated by insurance providers depending on their credit score. As a result, a poor credit score can result in higher premiums. In Fort Myers, homeowners with poor credit pay $2,400 on average for home insurance, compared to $1,878 for those with good credit.
The cheapest insurance companies in Fort Myers for those with poor credit are the following:
- Travelers: $836 per year
- Nationwide: $1,271 per year
The Cheapest Companies in Fort Myers for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Fort Myers
Obtaining an online quote for homeowners insurance in Fort Myers is a quick and simple process. The information you'll need to get started is listed below:
- The replacement cost of your home: You'll need to know the cost of rebuilding your home to figure out your dwelling coverage limitations. You can get an estimate from a construction professional or a building contractor.
- The value of your personal property: The value of your personal items will determine your personal property coverage limitations and affect the price of your insurance.
- Personal information: Your address, information about the people who live in your home, insurance history, credit score and other personal information are usually requested by insurance companies.
- Information about your house: To give you a quote, insurers need the specifics of your property, such as the year it was built, the square footage and existing security equipment.
Homeowners Insurance in Fort Myers Analysis: Methodology
MoneyGeek compared ten different providers' home insurance premiums in Fort Myers. Data for comparison was obtained in partnership with Quadrant and used to calculate affordability scores.
We also gathered quotes for homeowners with newly constructed homes, enhanced dwelling or personal property coverage, larger deductibles and low credit scores. Data from J.D. Power surveys were used for customer satisfaction ratings.
We based our findings on a homeowner profile of a 2,500-square-foot home built in 2000. The base profile also included $250,000 in dwelling coverage, $100,000 in personal property coverage, $100,000 in liability coverage and $1,000 in deductibles.
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