Homeowners insurance in Florida has become more expensive and sometimes harder to get. Several major insurers like Farmers Insurance have stopped writing new homeowners policies in the Sunshine State altogether due to rising losses from hurricanes and other natural disasters. However, several companies still stand out for their coverage in Florida.
To make your search easier, CNBC Select reviewed the top picks for Florida homeowners insurance based on cost, coverage and service. (See our methodology for more information on how we chose the best Florida homeowners insurance companies).
Best homeowners insurance in Florida
Compare homeowners insurance companies
Best for customer satisfaction
State Farm Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
Maximum coverage
Not disclosed
App available
Yes
Policy highlights
State Farm's homeowners insurance offers coverage that's easy to bundle with other types of insurance and covers things like fire, theft or vandalism. It offers several discounts for home security systems and wind mitigation.
Does not cover
Business or professional services, damage from flooding or underground water, earthquakes or mudslides, settling or deterioration, and animals, birds or insects.
Pros
- Lots of optional coverages available
- Ability to bundle policies and save with auto or term life insurance policies
Cons
- Online quotes not available in all states
- Does not offer new homeowners insurance policies in California
Who's this for? For those wanting homeowners insurance with the ability to bundle their policies, State Farm offers coverage for Florida homes.
Standout benefits: State Farm has high ratings for customer service in J.D. Power's home insurance study and has a relatively low complaint index according to the National Association of Insurance Commissioners (NAIC) database. It also offers many optional add-on coverages, making State Farm policies highly customizable.
Best for affordability
Tower Hill Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
App available
No
Policy highlights
Tower Hill offers homeowners insurance for those in Florida with affordable prices. It offers the ability to pay bills file claims, and get quotes online.
Pros
- Offers affordable rates for homeowners in Florida
Cons
- Doesn't offer auto insurance to bundle coverage and save
Who's this for? Florida homeowners prioritizing value can find affordable coverage with Tower Hill Exchange.
Standout benefits: Tower Hill offers several discounts for having an auto insurance policy with Safeco, as well as discounts for those living in gated communities or senior communities and those who have installed wind mitigation features.
Best for discounts
Liberty Mutual Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
App available
Yes
Policy highlights
Liberty Mutual homeowners insurance offers customizable policies with optional features like hurricane damage, water backup and inflation protection coverage. Discounts for newly purchased homes and bundling home and auto insurance can help owners save.
Pros
- Policies are available in all 50 U.S. states
Cons
- Online quotes can be limited in some states
Who's this for? Liberty Mutual offers numerous discounts, including a 10% discount for purchasing your policy online and a discount for remaining claim-free for at least three years.
Standout benefits: The company also offers auto insurance which could be a plus for those wanting to keep their auto and home insurance policies under one company. Liberty Mutual also offers flood insurance through the National Flood Insurance Program (NFIP).
More on our top Florida homeowners insurance companies
State Farm
State Farm is a trusted name in the insurance space. With decades of experience, it has become one of the largest homeowners insurance companies in the U.S. Just note that quotes are not available online in Florida so you must go through a local State Farm agent.
Average cost in Miami-Dade County
$4,480
Average cost in Orange County
$2,084
Average cost in Palm Beach County
$3,621
Average cost in Hillsborough County
$2,521
Average cost in Broward County
$4,114
NAIC Complaint Index
0.68, below average
Tower Hill
Tower Hill is headquartered in Gainesville, Florida and has been offering homeowners coverage in the Sunshine State for over 50 years. The company has expanded into over a dozen other states including Texas, Georgia, Mississippi and South Carolina.
Average cost in Miami-Dade County
$3,134
Average cost in Orange County
$1,066
Average cost in Palm Beach County
$2,180
Average cost in Hillsborough County
$1,376
Average cost in Broward County
$3,089
NAIC Complaint Index
1.66, above average
Liberty Mutual
Liberty Mutual has been helping cover Americans for the past 100 years and has become a trusted name for homeowners insurance, including in Florida.
Average cost in Miami-Dade County
$3,487
Average cost in Orange County
$1,817
Average cost in Palm Beach County
$2,672
Average cost in Hillsborough County
$1,998
Average cost in Broward County
$2,828
NAIC Complaint Index
1.6, above average
FAQs
What is the average cost of homeowners insurance in Florida?
The average Florida homeowner with $300,000 of dwelling coverage pays about $5,770 per year according to Bankrate data.
Do I need flood insurance in Florida?
If you want to be covered in the event of a flood, you'll need to buy a separate flood insurance policy, as a standard homeowners insurance policy most likely won't cover flooding.
What if I cannot get homeowners insurance?
If you're having trouble getting homeowners insurance through private companies, you might want to try a Fair Access to Insurance Requirements (FAIR) Plan. Most states, including Florida, have FAIR plans. However, you'll want to try all your options first as FAIR coverage may be more expensive than other homeowners insurance options.
Is it mandatory to have homeowners insurance in Florida?
Florida doesn't require homeowners insurance by law, but if you have a mortgage, your lender will likely require you to have a policy.
Bottom line
Homeowners insurance in Florida might be more expensive than in other states, but comparing quotes from shopping with several top companies can help you save.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. To research the best insurance companies, we compiled over 50 data points on more than a dozen insurance companies. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best Florida homeowners insurance companies.
Our methodology
To determine the best homeowners insurance companies in Florida, CNBC Select analyzed dozens of insurance companies and compared them based on various factors.
While narrowing down the best insurance companies, we focused on a sample premium for $150,000 of coverage for a home built before 2001 with wind mitigation features in five of the most populated Florida counties. Average annual premium data was gathered from the Florida Office of Insurance Regulation's Homeowners Rate Comparison Tool.
We also considered the companies' availability of online quotes, financial strength ratings from A.M. Best and complaint index scores from the NAIC.
Note that the premiums and policy structures advertised for homeowners insurance companies are subject to fluctuate per the company's policies.
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