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

Most insurance providers offer the same core coverages but at different rates. To find the cheapest homeowners insurance in Ocala, you will need to compare multiple quotes.

Based on MoneyGeek’s research, the most affordable homeowners insurance providers in Ocala for a policy with a $250,000 dwelling coverage are:

• Universal North America: $607 per year
• Travelers: $839 per year

You may more or less than the average cost depending on the insurance provider and dwelling coverage amount you choose.

For instance, if you purchase a policy with a dwelling coverage limit of $2 million, the cheapest insurers in Ocala are:

• Universal North America: $4,636 per year
• ASI: $5,968 per year

You can use the table below to compare rates for different dwelling coverage limits.

For this study, MoneyGeek collected homeowners insurance quotes for a sample policy with a $250,000 baseline dwelling coverage and a personal property coverage limit of $100,000. Increasing the dwelling coverage to $2 million will increase the personal property coverage limit to $800,000. All the policies used in this study have a liability coverage of $100,000.

Homeowners who reside out of Ocala but within Florida can compare the cheapest homeowners insurance in Florida using MoneyGeek’s homeowners insurance calculator.

Homeowners in Ocala pay an average of $1,375 per year for insurance, $984 less than the state average of $2,359. The rate is also lower than the national homeowners insurance average of $2,103 by $728.

While shopping around for the best homeowners insurance in Ocala, several factors will influence how much you pay, including your location, dwelling coverage amount, personal property coverage amount and credit score.

You can compare quotes from multiple locations within the city using MoneyGeek’s home insurance calculator.

MoneyGeek analyzed homeowners insurance providers in Ocala based on several factors, including customer satisfaction, financial stability and affordability. Although the cost of coverage is one major factor to consider when choosing your policy, you should also check the insurer’s financial stability and customer satisfaction scores, which determine how likely the insurer is to process your claims.

Based on MoneyGeek’s analysis, the best homeowners insurance in Ocala comes from:

• Best Overall: Travelers
• Runner-up: Nationwide

If you purchase a newly constructed home in Ocala, you will pay less for homeowners insurance than those with older homes. That’s because newer homes use modern materials that are durable and easy to replace, meaning you are less likely to file a claim.

On average, the cost of homeowners insurance in Ocala for a new home is $946 per year, while homes built in 2000 cost $1,375 per year.

Based on our findings, the cheapest homeowners insurance in Ocala for a new home and a dwelling coverage limit of $250,000 are:

• Universal North America: $418 per year
• ASI: $433 per year

Homeowners insurance coverage in Ocala also protects your personal property, although you may need to buy additional coverage if you have a lot of personal property.

For instance, if you have a personal property limit of $250,000, you will pay an average of $1,563 per year, but if your policy has a personal property limit of $100,000, you’ll pay $1,375 per year.

According to MoneyGeek’s findings, the cheapest homeowners insurance providers in Ocala with high personal property limits are:

• Universal North America: $690 per year
• Travelers: $937 per year

The amount of money homeowners pay out of pocket after the insurer processes your claim is referred to as the deductible. If you choose a policy with a high deductible, you will pay lower monthly premiums but will have more out-of-pocket costs if you file a claim.

In Ocala, you will pay about $1,192 per year if your policy has a deductible of $2,000. You pay $1,375 for a policy with a $1,000 deductible.

On average, the top insurers in Ocala for policies with a high deductible are:

• Universal North America: $526 per year
• Travelers: $744 per year

Insurers consider various factors while determining homeowners insurance costs in Ocala. Individuals with bad credit often pay higher premiums than those with good credit scores. That’s because they are more likely to file a claim.

If you have a poor credit score, you will pay an average of $1,757 per year for homeowners insurance. However, if you have a good credit rating, you will pay $1,375 annually.

The cheapest homeowners insurance in Ocala for those with a poor credit score are:

• Travelers: $839 per year
• Universal North America: $1,008 per year

While sourcing for homeowners insurance quotes from companies in Ocala, you will be requested to provide certain information, including:

• Home replacement cost: Insurers determine your dwelling coverage limits by using the cost of rebuilding your home, not the actual cost. This is called the replacement cost, and it can be estimated by a construction professional.
• Personal property value: This refers to the value of the property in your home and it helps insurers calculate your personal property limits.
• Personal information: Ocala insurers will ask you to provide certain information about yourself and your home before providing you with the quote, including your details as well as the number of people living in your home.
• Property information: The insurer will also need you to provide details about your home, including when it was constructed, its value and whether it has security devices installed.

MoneyGeek collected the data used in this study across different coverage levels in conjunction with Quadrant. The quotes were sourced from ten insurers in the city for a sample 2,500-square-foot home built in 2000.

The policy has a dwelling coverage limit of $250,000, a personal property limit of $100,000 and a deductible of $1,000. All the policies feature a liability coverage limit of $100,000.

We obtained customer satisfaction scores from J.D. Power ratings and also collected quotes for individuals with newly constructed homes, high dwelling or personal property coverage and bad credit scores.