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

On average, homeowners in Ocala, Florida, pay $1,375 annually for homeowners insurance or $115 per month. Prices may vary depending on various factors, including the insurer you choose.

MoneyGeek rated the best homeowners insurance in Ocala to help you secure a policy that combines affordability and quality.

The cheapest insurer is Universal North America at $607 per year, and the most expensive insurer is Citizens at $3,053. This means you can save as much as $2,446 per year by shopping around.

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Last Updated: 6/24/2022
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The Cheapest and Best Homeowners Insurance in Ocala

The Cheapest Home Insurance Companies in Ocala

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.

The Cheapest Home Insurance in Ocala, Ranked

Dwelling Coverage:

$250,000

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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.

The Average Cost of Homeowners Insurance in Ocala for 2022

Ocala$1,375
Florida$2,359
U.S.$2,103

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.

Calculate the Cost of Home Insurance in Ocala

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.

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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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low end

on average

high end

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

The Best Home Insurance Companies in Ocala

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

1
Travelers
Score:91.2

4.8/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take
Geek Quick Take

Travelers offers significantly cheaper homeowners insurance in Ocala and is MoneyGeek’s top pick in the city overall. Customers pay an average of $839 per year. The insurer offers an optional energy efficiency upgrade coverage that facilitates the replacement or repair of your damaged home with green materials.

More About Travelers

Travelers provides various discounts, including the home buyer discount that’s available to those who purchase their home a year before their policy’s effective date. If you wish to get coverage for your personal property, the insurer provides a personal property replacement cost coverage with no deduction for depreciation.

2
Nationwide
Score:90.6

4.7/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability

Geek Quick Take
Geek Quick Take

Nationwide is the second-best home insurance company in Ocala, with high scores across all categories. Policyholders pay an average of $1,025 for a homeowners insurance policy. The insurer offers earthquake insurance, which covers damage caused by earthquakes, although a separate deductible applies to this coverage.

More About Nationwide

Aside from providing all the common insurance coverages, Nationwide also provides various unique optional coverages. One of these is the better roof replacement coverage which ensures your roof is replaced with safer and stronger materials after damage. The company also provides a discount to new members based on the number of years they were previously insured.

Cheapest Home Insurance Companies in Ocala for Newly Constructed Homes

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
The Cheapest Home Insurance in Ocala for New Homes, Ranked

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

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
Cheap Companies in Ocala for Extra Personal Property Coverage

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Cheapest Home Insurance Companies in Ocala for High Deductibles

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
The Cheapest Companies in Ocala for High Deductibles, Ranked

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Cheapest Home Insurance Companies in Ocala if You Have Poor Credit

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
The Cheapest Companies in Ocala for Poor Credit, Ranked

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Getting Online Homeowners Insurance Quotes in Ocala

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.
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Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.

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Homeowners Insurance in Ocala Analysis: Methodology

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.

About the Author


expert-profile

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.