Hollay Ghadery Last Updated On: August 23, 2023

Find Cheap Homeowners Insurance in Florida: Read This First

Florida might be full of magic, thanks to the world of Disney, but unfortunately you can’t snap your fingers and produce cheap home insurance coverage that fits all your needs. But with a little effort, it’s entirely possible to find affordable home insurance, even in the Sunshine State, and we’re going to show you how. 

Keep reading for a guide to finding the right home insurance for you and your budget, so that you can snap up the best policy, just like the alligators the state is known for.

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Table of Contents

How Weather Impacts Florida Home Insurance

Before we dive into home insurance options, it’s important to know what you’re up against as a Floridian (or soon to be one!). The truth is that Florida is no stranger to severe weather. As the southeasternmost state with the Atlantic on one side and the Gulf of Mexico on the other, Florida is especially vulnerable to hurricane season. From June to the end of November, Floridians need to watch out for hurricanes, some of the most destructive storms possible to a home and property. Read more about hurricane coverage here

With that comes flooding, which can rack up tens of thousands of dollars in damage. The heavy rains can cause rivers to overflow and inland to flood, which is especially impactful in a state like Florida with many bodies of water and low-lying land. 

Florida also sees a high number of tornadoes per year—sometimes more than any other state. The destructive winds can wreak havoc on your home, uproot trees, move cars, and more. On the other end of the spectrum is lightning: Florida has been called the lightning capital of the U.S., and these dangerous lightning strikes can cause fires, cause damage to buildings, and even injure or kill. 

But it’s not all bad news. Florida is an incredible place to live, so you just need to be prepared for the severe weather that the state can experience. We’ll help you with this next.

Home Insurance Quotes in Florida

Having home insurance isn’t necessarily required, unless it’s a requirement of your mortgage. But even if you don’t need to have home insurance, it’s strongly recommended for every homeowner, especially in a state like Florida that’s prone to severe weather events. 

But there’s no one prescribed policy for home insurance. You have options for coverage, which can help you prioritize what you need, whether that’s staying on budget or feeling as protected as possible. 

Here are the main buckets of coverage that you’ll see in all home insurance policies:

  • Dwelling: This protects the structure of your home, including the walls, roof, and foundation. It also extends to other structures on your property, like a shed, fence, and garage.
  • Personal Property: This covers your belongings, like your clothing, electronics, furniture, jewelry, and more. Keep in mind you’re only covered for a set amount and each category tends to have limits, so you may need added coverage if you have collectibles.
    • Your policy will also differentiate between actual cash value and replacement cost. This difference is important to know. Actual cash value means that your insurance will reimburse you for the current, depreciated value of the item. Replacement cost means you’ll be reimbursed for what it currently costs to buy that item new.
  • Liability: This covers your personal liability, whether someone gets injured on your property or you damage someone else’s property. It covers medical costs for the injured person, as well as provides you a legal defense if you’re sued.
  • Additional Living Expenses: If your home is damaged from a covered peril and needs to be repaired/rebuilt, this covers your temporary living expenses, like lodging, food, and transportation. Find out more here.

All home insurance policies cover these base items, but you can add to the coverage if needed (more on that later). Where policies differ is in what damages they cover you for. Most policies tend to cover you for the following damages, also known as perils:

  • Fire or lightning 
  • Smoke
  • Windstorms
  • Hail
  • Weight of snow, ice or sleet
  • Explosions
  • Theft
  • Vandalism
  • Falling objects
  • Damage from aircraft or vehicle
  • Water overflow/discharge or freezing from plumbing, air conditioning and appliances
  • Sudden tearing, cracking or bulging of a hot water system, steam system, air conditioning or fire protective system
  • Volcanic eruptions
  • Sudden damage from a power surge

Knowing what you’re covered for is important, so be sure to read your policy thoroughly. But what you’re not covered for is possibly even more important. Here are the typical exclusions in most home insurance policies:

  • Flooding
  • Earthquakes
  • Drain and sewer backup
  • Nuclear hazard
  • Wear and tear or neglect
  • Power failure
  • Infestations 
  • Mold
  • War

You might notice that flooding tops the list of exclusions. This is key in Florida, a state especially prone to flooding. You can purchase separate flooding insurance from the National Flood Insurance Program (NFIP) for roughly $910 per year. Keep in mind, these policies can take about 30 days to go into effect, so plan ahead. Note that if you have Citizens Insurance, which is affordable insurance provided by the government if you can’t find it elsewhere, you’ll be required to have flood insurance.

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Boost Florida Home Insurance Coverage With Endorsements

If the above coverage list felt a little light, don’t worry: home insurance coverage can be increased with endorsements, also known as riders. These are optional add on coverage types that you add to an existing policy.

Some examples of common endorsements include:

  • Flooding: Because Florida is so prone to flooding, it’s strongly recommended that you purchase add-on flooding insurance. Flooding happens fast, and it can easily devastate a home and your wallet. 
  • Guaranteed Replacement Cost: If your home is destroyed, it’s covered up to a certain amount to repair or rebuild. But that amount could have been set years ago and the replacement cost of your home could have gone up. With this rider, your home is guaranteed to be put back to the way it was, no matter the cost.
  • Scheduled Personal Property: Your belongings are covered up to certain amounts, but that might not cover the true value of some of your pricer items. If you have valuable art, electronics, jewelry, antiques, fur, etc., you may want to get a scheduled personal property rider to ensure these items can be fully replaced or compensated should they be damaged. Read more about personal property coverage here
  • Wind: Given the prevalence of hurricanes in Florida, you’ll likely want to get separate hurricane coverage to protect from wind-related damage, since named storms aren’t covered in Florida. 

These are just some examples of riders you can add to your policy to feel more protected. These will cost you more in premiums, but could save you big down the line. 

The Average Cost of Home Insurance in Florida

No one likes shelling out for home insurance, especially when you don’t see an immediate return. After all, you could pay into your policy years before you need it. But that’s the point of having home insurance: it’s always better to be safe than sorry.

So, how much will home insurance in Florida cost you? The average cost runs you $1,981 per year for $250,000 in dwelling coverage. This is quite a bit higher than the national average for many reasons, mainly due to the fact that Florida experiences severe weather events that put homes at risk. 

If you’re looking to move to Florida and haven’t quite landed on a home city, this might help sway your decision. The top five cities with cheap home insurance in Florida include:

  • West Palm Beach
  • Lake Worth
  • Boynton Beach
  • Delray Beach
  • Boca Raton

If you live in a pricier city, no worries: next, we’ll take you through ways to save on home insurance costs no matter where you live.

How to Find Affordable Home Insurance in Florida

Florida has expensive home insurance, there’s no doubt about it. But that doesn’t mean you can’t find savings on policies to help put a little more money back in your pocket. After all, Disney World isn’t cheap and the more you save, the more you can spend on trips with the family to the theme park!

So here are our top tips for saving on home insurance (go ahead and take notes!): 

  • Raise Your Deductible: By increasing your deductible, the amount you’d have to pay before your first claim is paid out, your premiums will drop. This means you save more annually if you don’t make a claim.
  • Avoid Minor Claims: Speaking of claims, try to avoid filing small claims that you could just as easily handle yourself. This will prevent your rates from going up. 
  • Get Multiple Quotes: Every insurance provider calculates quotes differently. By shopping around for quotes, you’ll be able to find the cheapest price. Be sure to compare quotes to coverage to ensure you’re getting the right policy for you, and give yourself ample time to shop around before you need the coverage. 
  • Find Discounts: Most insurance providers offer discounts on their policies. These discounts can be for anything from never having filed a claim before to being a new or loyal customer. You can save just by having home security systems or for switching to automatic payments. Be sure to ask for any discounts that might apply to you and stack them up for boosted savings. 
  • Consider Your Coverage: Everyone has different needs and priorities when it comes to their home insurance, and that’s okay. Figure out the coverage you need and want, so that you don’t overpay on premiums. For example, if you’ve recently downsized, gotten rid of the risky swimming pool, sold your collection of art, or gotten rid of your home office, you might be paying more for coverage you don’t need. 
  • Maintain Your Home: Neglect and wear and tear aren’t valid claim reasons, and in fact, they can be used to deny a claim. Be sure to maintain your home and fix any damage as soon as you can, or you could be stuck paying out of pocket should something worse happen. 

All combined, these tips can easily save you up to 30% on your home insurance—if not more. How much you save on your home insurance is up to you and how much effort you’re willing to put into it. Or, you can give yourself a shortcut and get access to free quotes fast just by clicking here. Sometimes it’s about working smarter, not harder. 

Want more tips to save on home insurance? Find those and more here.

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Find Home Insurance Quotes in Florida Now

By now, you should have a better idea of what kind of coverage you need and what you can expect to pay. The last piece of the puzzle is getting home insurance quotes in Florida online. Be sure to check out these five providers for competitive insurance quotes:

  • Allstate
  • Chubb
  • State Farm
  • Kin
  • Tower Hill 

And if you’re unable to find competitive insurance elsewhere, there’s always Citizens, which is Florida’s “Fair Access to Insurance Requirements” (FAIR) plan carrier. 

If you’re feeling overwhelmed, don’t be. We’ve got you covered with fast, free access to quotes here. Home insurance should help you feel protected, and ConsumerCoverage is here to help.


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