Home Insurance Cost in Florida: Why It’s So Expensive

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Insurance Provider Average Annual Rate Average monthly cost
National Average $1,820 $152
Chubb $1,760 $147
Florida Peninsula $3,030 $252
HCI $2,456 $204
Heritage $3,380 $282
Nationwide $1,655 $138
People’s Trust $1,300 $108
Progressive $2,065 $172
State Farm $1,920 $160
Tower Hill $1,835 $153

Cost of Homeowners Insurance in Florida by City

City Average annual rate Average monthly rate
Boca Raton $2,945 $245
Bradenton $1,850 $154
Cape Coral $2,175 $181
Fort Lauderdale $3,985 $332
Fort Myers $2,100 $175
Gainesville $1,625 $135
Hialeah $5,090 $424
Hollywood $4,015 $335
Homestead $4,790 $399
Jacksonville $1,935 $161
Kissimmee $2,435 $203
Lake Worth $2,955 $246
Lakeland $2,335 $195
Miami $4,740 $395
Naples $2,465 $205
Ocala $1,720 $143
Orlando $2,320 $193
Pensacola $2,270 $189
Pompano Beach $3,925 $327
Port St. Lucie $2,800 $233
Sarasota $1,940 $162
St. Petersburg $1,915 $160
Tallahassee $1,675 $140
Tampa $2,235 $186
West Palm Beach $2,900 $242

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Frequently Asked Questions

  • Is home insurance needed in Florida?

    Legally, no. However, if you have a mortgage or any type of home loan, your lender might ask you to buy a home insurance policy. This ensures that if your home is damaged or destroyed, you will have the financial means to rebuild or repay the loan. Even if you own your home, it’s a good idea to have home insurance. Florida is prone to significant home damage risks, making it crucial to have insurance to safeguard your finances for unexpected losses.

  • How can I save money on homeowners insurance?

    Several carriers offer discounts, especially if you purchase multiple policies or install security systems in your home. You can also opt for a higher deductible if it’s an amount you could cover in a disaster.

  • What is the average cost of home insurance in Florida?

    Homeowners insurance in Florida can cost up to $2,835 a year or $199 a month on average. It is well above the national average cost of $1,820 per year or $152 a month.


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