How much is homeowners insurance in Florida?
The average cost of homeowners insurance in Florida is $191 per month or $2,288 per year for $300,000 in dwelling coverage, according to our latest insurance pricing analysis. This is around 30% higher than the national average of $1,754 per year.
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Why is home insurance in Florida so expensive?
Home insurance is so expensive in Florida because the state is at high risk for severe weather damage due to lightning strikes, hurricanes, tornadoes, wildfires, and more. Since there’s a higher chance of homeowners filing a claim, home insurance companies charge higher rates for this added risk.
Florida homeowners insurance rates by city
Looking at average home insurance costs for the 20 largest cities in Florida, we found that Palm Bay has the cheapest homeowners insurance in Florida, followed by St. Pete and Gainesville.
City | Average monthly cost | Average annual cost | Difference from state average (%) |
|---|---|---|---|
Jacksonville | $157 | $1,884 | -18% |
Miami | $298 | $3,572 | 56% |
Tampa | $189 | $2,266 | -1% |
Orlando | $193 | $2,315 | 1% |
St. Petersburg | $153 | $1,836 | -20% |
Port St. Lucie | $203 | $2,439 | 7% |
Hialeah | $325 | $3,898 | 70% |
Cape Coral | $166 | $1,993 | -13% |
Tallahassee | $157 | $1,888 | -17% |
Fort Lauderdale | $286 | $3,429 | 50% |
Pembroke Pines | $342 | $4,099 | 79% |
Hollywood | $300 | $3,596 | 57% |
Gainesville | $156 | $1,875 | -18% |
Miramar | $341 | $4,086 | 79% |
Coral Springs | $346 | $4,148 | 81% |
Palm Bay | $150 | $1,795 | -22% |
West Palm Beach | $224 | $2,692 | 18% |
Lakeland | $226 | $2,715 | 19% |
Clearwater | $159 | $1,905 | -17% |
Pompano Beach | $302 | $3,621 | 58% |
Learn more >> Best home insurance companies in Florida
Florida homeowners insurance rates by coverage amount
One of the most important (and expensive) parts of your home insurance policy is your dwelling coverage, since it protects the physical structure of your home from covered hazards like hurricanes and fires.
How much dwelling coverage you purchase should be based on the replacement cost of your home — not its market value. That means even if you paid $600,000 for a home that would really only cost $400,000 to rebuild — you’d only need $400,000 in dwelling coverage.
The table below highlights the average annual premium in Florida for five different levels of dwelling coverage.
As you can see, the higher your dwelling coverage limit, the higher your premiums. In Florida, the most significant rate jump occurs in the $400,000 to $500,000 range — with a nearly $800 difference in premiums between these two coverage levels.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $878 |
$200,000 | $1,588 |
$300,000 | $2,288 |
$400,000 | $2,982 |
$500,000 | $3,762 |
Learn more >> How to buy home insurance in Florida
