The best home insurance in Florida and how to get the cheapest

The insurer may offer the best Florida homeowners insurance at discounts, such as savings for being a new homebuyer or having a good payment history.

Advantages :

• Offers many discounts
• local agents available
• Strong digital tools

Disadvantages :

• JD Power's score is below average
• AM Best's financial strength is less than some competitors in the market.

2: Chubb

Chubb is the best home insurance company for high-value coverage in Florida today. Offers many policies that include extended replacement cost coverage to rebuild your home or a cash settlement option should you decide not to rebuild after a covered loss.

Advantages :

• Numerous coverage options
• Coverage can be tailored to high-value homes
• Superior AM Better financial strength

Disadvantages :

• Premiums above average
• Below Average JD Power Score

3: State Farm

More and more people are choosing State Farm as their home insurance company. It has plenty of plans with extensive coverage, including the ability to repair or replace your home. This company covers damage caused by weather.

State Farm homeowners insurance covers damage that may occur to your property, nearby buildings, and their contents after a theft, fire, storm, etc. It also offers protection to pay the medical and legal expenses of people who are injured in the insured home.

Advantages :

• local agents available
• Superior AM Better financial strength
• Very well designed and intuitive mobile application

Disadvantages :

• Fewer discounts than other insurers
• It does not advertise many endorsements
• Online quotes are not available at this time

4:kin

Kin is one of the best home insurance companies you can get on the market today. Due to their technology and direct-to-consumer model, they offer affordable prices without compromising coverage, including the effects of climate change.

This well-known company uses a unique underwriting formula to price its insurance policies compared to traditional insurers, using data from permits, property records, and satellite imagery to assess value and risk.

The standard coverage offered by Kin is designed to provide owners with greater security when covering repair costs related to a myriad of perils such as windstorms, fire, lightning, hail, explosion, theft, and vandalism.

Advantages :

• Innovative qualification method
• Easy access due to its extensive technology
• Offers many discounts

Disadvantages :

• Few third-party scores
• It does not have a mobile application

5: Tower Hill

Tower Hill is among the best home insurance in Florida. This company stands out for its extensive services offered to its customers. They include in their policies coverage that reaches sewerage, water, and valuables and even covers cases of identity theft.

With Tower Hill, you can be sure that your home will be protected at all times. In fact, they offer specific insurance in case of floods. Without a doubt, it is one of the best and most reputable home insurers on the market.

Advantages :

• Florida based company
• High-value options available
• Various endorsements available

Disadvantages :

• Not Rated by JD Power
• Does not offer online quotes
• It does not have a mobile application

Other Florida home insurance companies to consider

We have presented you with the 5 best home insurers in Florida, however, there are still options to consider:

Florida Peninsula

This insurance company only offers plans for the Florida area, so it's a great option if you want to keep your local coverage. Don't worry about money as it has quite affordable plans.

If budget is not your primary concern, then you can choose from a wide variety of endorsements to create a more comprehensive and robust policy.

citizens

Citizens offer a wide variety of alternatives when it comes to coverage. One of the things that attract the most attention has to do with its policy discounts, which are really attractive. You can access these discounts if you hire other types of services such as:

• Installation of fire alarms
• Burglar alarm installation
• Installation of wind mitigation systems

It is an insurance company that is backed by the state. To qualify for Citizen coverage, you must show that you have not been able to obtain coverage on the private home insurance market.

How much does home insurance cost in Florida?

The cost of home insurance in Florida will depend on the company with which you decide to buy. However, the average cost is $1,981 per year for a $250,000 homeowners coverage policy.

Taking these data into account, it could be said that the cost of homeowners insurance in Florida is higher than the national average, which is approximately $1,428 per year.

It is important to clarify that the cost of home insurance in Florida will depend on some key factors such as :

• property location
• Features of your home
• Your claims history
• The insurance company you choose
• The types and limits of coverage you select.

Average annual premium for home coverage

The amount of coverage you buy is one of the most important things that affect your homeowner's insurance premium.

If you choose more comprehensive coverage, then you should be aware that you will be paying more money. The greater the coverage, the more investment but also more solid protection.

Keep in mind that homeowner's coverage is not the only type of coverage that exists in a home insurance policy. Your homeowner's coverage covers the structure of your home, while your liability coverage, for example, protects your finances from the consequences of injuries and damage to the property of others for which you are responsible.

We leave you a table with the average rates by level of coverage in the main insurance companies in Florida.