Updated: July 25, 2024
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Nationwide stands out as Florida's overall best home insurance company, but the best fit for your needs may differ. Most of our comparisons are based on a policy with a $100,000 dwelling coverage limit, but a different amount of dwelling coverage will likely influence your premium. If you need a higher dwelling coverage limit, State Farm is your best bet.
For those prioritizing affordability over service, MoneyGeek also evaluated the cheapest home insurance in Florida.
Best HomeInsuranceFlorida
Why Trust MoneyGeek? To determine the best homeowners insurance options in Florida, we compiled quotes and information from the Florida Department of Insurance and Quadrant Information Services, ensuring that data and industry standards back our recommendations.
Home insurance rates in Florida represent the latest quotes as of July 2024.
Nationwide leads for the best homeowners insurance in the Sunshine State, followed by Chubb.
We recommend that homeowners find an insurer that balances affordability with quality service catered to their specific home needs. Consider both factors to make a comfortable decision about your home protection.
Nationwide stands out in Florida as the most affordable company, on average, with a great service record and ample coverages. Its average annual premium is $2,000.
Nationwide offers discounts for renovating a home, living in a gated community, using certain types of roofing materials and newly purchased homes. With these discounts, customers can enhance the value of their smart home investments or ensure protection in their community-focused living spaces.
Chubb is the best home insurance provider in Florida in terms of service quality. Homeowners in Florida seeking the highest level of quality service can consider the following home insurance providers:
Valuing service quality in a home insurance provider means prioritizing customer support, timely claims handling and comprehensive coverage options so that homeowners can expect efficient and supportive assistance in the event of a claim, such as hurricane damage.
Chubb has the highest reputation for customer satisfaction than all other companies we considered in Florida, a strong indicator of superior service. Homeowners pay an average annual premium of $2,792 for comprehensive protection.
Chubb offers a reasonably common coverage called guaranteed replacement cost, ensuring homeowners can rebuild without worrying about coverage limits. Another reasonably rare add-on, cash settlement, gives policyholders the option to accept cash in lieu of replacement in the event of a total loss.
Nationwide offers the best affordable home insurance in Florida for those on a budget. The runner-up for affordable, high-quality home insurance in Florida is Chubb.
Even if you're on a budget, use the average cost of home insurance in Florida to select a provider that balances affordability with quality service. You may appreciate a provider that quickly processes claims even if its rates are slightly higher.
Nationwide ranks best in Florida for affordability. Homeowners on a budget can expect an average annual premium of $2,000.
Nationwide makes premiums manageable by offering a suite of discounts, including common ones like bundling and protective device. Bundling allows customers to save by insuring both their home and auto through Nationwide. The protective device discount rewards homeowners who secure their property with smoke detectors, burglar alarms or other qualifying systems. These offerings ensure comprehensive protection coupled with cost savings.
State Farm is the premier home insurance provider for Florida homeowners with expensive homes. We recommend these providers for those requiring $1 million in dwelling coverage:
With expensive homes necessitating higher coverage levels — which can significantly influence premiums — selecting an insurance provider that delivers an optimal blend of cost-effectiveness and coverage quality is critical.
State Farm is the top home insurance provider for expensive homes in Florida. With the cheapest premiums on average, homeowners can expect to pay $15,245 per year in premiums. Common discounts like the protective device discount can lead to even more savings, particularly since costly homes may require more comprehensive coverage.
State Farm provides a range of additional options tailored to enhance protection. With scheduled personal protection, valuables such as jewelry and art can be insured at a specific value, guaranteeing full coverage in case of theft or damage. For homeowners concerned about complying with current building codes after a loss, building ordinance or law coverage is available. It ensures extra costs related to regulations are covered during repairs or rebuilding.
Nationwide stands out as the top choice for homeowners seeking the best home insurance in Florida for new homes.
Insurance tends to be less expensive for newer homes. Nationwide offers an exceptional mix of value and customer service, affording you peace of mind and savings on your home insurance.
Nationwide is the top choice for new homes in Florida because it is the most affordable company in our study, with an average annual premium of $3,725. Its guaranteed replacement cost coverage ensures complete restoration of your new home after a covered loss.
Unlock even more savings with Nationwide by tapping into home renovation and continuously insured discounts. Home renovation discounts reward updates to electrical, heating or plumbing systems, while the continuously insured discount benefits loyal members.
For veterans and military families in Florida, Nationwide is our pick. It has the highest MoneyGeek score and an average annual premium of $2,000.
Top-tier homeowners insurance for veterans considers the needs of military families, such as routine relocations and deployments. These companies ensure comprehensive protection for homes and belongings, adapting seamlessly to the dynamic lives of those who serve.
Nationwide is the best and most affordable home insurance provider for veterans in Florida, with an average annual premium of about $2,000. Among its offered coverages, scheduled personal property provides veterans with additional protection for their valuables, ensuring that items such as jewelry, art or electronics are covered beyond the typical limits.
Nationwide also offers reasonably rare home renovation discounts for updates to plumbing, electrical, heating or cooling systems, and very rare continuous insurance discounts rewarding long-term policyholders. These options can help veterans maximize savings while maintaining robust home protection.
The best homeowners insurance providers balance excellent customer service and robust coverage without exorbitant premiums. Your best match may differ from our recommendations based on your individual requirements and risk factors. These steps can help you determine the most suitable provider for your unique situation.
Begin by determining how much home insurance coverage you need. Consider factors such as the value of your home, personal belongings and potential risks specific to your location. An accurate assessment will serve as the foundation for selecting the appropriate coverage.
Gather information on multiple insurance companies. Look into their reputations, track record of customer satisfaction and the policies they offer. Take a deeper dive into each provider's strengths and shortcomings.
After shortlisting potential providers, scrutinize the details of their policies. You'll want to compare home insurance quotes to ensure you’re getting the best deal. Look beyond the premiums and consider deductibles, policy limits and exclusions.
Ensure that you have a thorough understanding of the policy's intricacies. Pay close attention to the extent of coverage, whether it includes replacement cost or actual cash value for personal property, the types of covered perils and any additional coverage options that may be necessary for your situation.
An independent insurance agent can help clarify the finer points of different policies and provide expert advice tailored to your needs. They possess a broad market view and can be a personalized resource throughout your decision-making process.
Selecting the top homeowners insurance provider in Florida hinges on your specific requirements and situation. To help you with this decision, we've compiled a list of frequently asked questions about the best homeowners insurance providers in the Sunshine State.
The overall best home insurance in Florida is Nationwide, with a MoneyGeek score of 93 out of 100 and an average annual premium of $2,000.
Nationwide offers the cheapest homeowners insurance in Florida, with an average annual premium of $2,000. Premiums can be even lower for homeowners who qualify for discounts.
About Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
