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The Best and Cheapest Homeowners Insurance Companies in Florida

The Best and Cheapest Homeowners Insurance Companies in Florida

We found that the cheapest homeowners insurance rate in Florida is from Tower Hill at $1,242 per year.

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Best cheap home insurance companies in Florida

To find the best homeowners insurance in Florida, we reviewed major insurers and collected thousands of Florida quotes. Tower Hill offers the cheapest rates, but it's important to compare service and coverage from different home insurers to find the best coverage in Florida.

The best cheap home insurance companies in Florida

Tower Hill offers the cheapest homeowners insurance coverage in Florida, with an average rate of $1,242 per year. That's $978 per year less than the state average and $536 less than the second-cheapest option, UPC.

Rates in Florida vary widely. The difference between Tower Hill and Chubb, the most expensive option, is $1,933 per year, or $162 per month.

The average cost of home insurance in Florida is $2,220 per year.

Bar chart showing the most affordable homeowners insurance options in Florida

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Based on our analysis of the state's largest insurers, you could save $1,500 or more by comparing quotes from multiple companies.

Annual cost
Tower Hill logo
Tower Hill$1,242
State Farm logo
State Farm$1,871
Progressive logo
Universal logo
Florida Peninsula logo
Florida Peninsula$2,437
Heritage logo
Andover logo
Chubb logo

Best home insurance in Florida: State Farm

Affordable rates and reliable service come together at State Farm to make it the best home insurance company for most Florida homeowners.
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  • Reliable customer service
  • Excellent financial stability


  • Not the cheapest company

State Farm is our recommendation for best home insurance company in Florida for most homeowners. At an average price of only $1,871 per year, State Farm is 16% less expensive than the average Florida insurer.

Home insurance coverage options from State Farm include earthquake, sewer backup and flood coverage. State Farm also has a strong financial footing, which could be important during a large-scale natural disaster, such as a hurricane.

Best for cheapest rates: Tower Hill

Tower Hill has by far the lowest rates we found, but you will have to get a quote from an agent.
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  • Low rates
  • Great customer service
  • Flood coverage


  • No online quotes

For Florida homeowners focused on the lowest possible rates for homeowners insurance, we recommend Tower Hill with an average rate of $1,242 per year. This is 44% less than the state's average rate of $2,220.

Tower Hill offers multiple types of flood coverage, as well as special coverages for higher-value homes. The company receives notably fewer complaints than average from customers and offers debris removal coverage, which could be valuable after a hurricane.

Best for hurricane-related coverage: Florida Peninsula

Florida Peninsula offers good rates and features for coastal homeowners who need coverage against storm-related perils.
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  • Useful coverage add-ons
  • Extended flood insurance limits


  • Expensive rates

If you need a company with expertise in insuring coastal homes, we recommend Florida Peninsula Insurance. With an average annual home insurance rate of $2,437, Florida Peninsula also has near-average rates among Florida insurers and a lot rate of customer complaints.

Florida Peninsula has good policies for homes near the ocean, as it offers coverage for water backup, a common consequence of major storms. Florida Peninsula also offers private flood insurance with up to $2 million in coverage for your home as an alternative to government-sponsored flood insurance from the National Flood Insurance Program (NFIP).

Cost of Florida insurance: City-by-city breakdown

Gainesville had the cheapest home insurance rates in Florida, while Hialeah had the most expensive rates among Florida's major cities.

Average cost
Difference from state average
Boca Raton$2,152-3%
Boynton Beach$2,157-3%
Cape Coral$1,432-35%
Show All Rows

Compare Rates

We compared the cost of home insurance for every ZIP code across the 54 major cities in the state with populations over 50,000. Rates are based on a home insured for $214,000 and built in 1987 based on median Florida home data from the U.S. Census Bureau.

The best home insurance companies in Florida

State Farm and Tower Hill are the best-rated Florida home insurance companies based on our analysis.

When considering the best insurance company to protect your home, it's important to look beyond quotes to other factors like customer service and financial stability. An affordable insurance company may not be worthwhile if it ends up providing careless service or undervaluing your claim. We factored in customer service ratings, including the companies' scores from J.D. Power, as well as coverage options and rates.

Home Insurance Rating
State Farm
Tower Hill
Florida Peninsula

What risks do homeowners face in Florida?

Florida's position on the Gulf Coast leaves it vulnerable to several major insurance perils, resulting in the highest homeowners insurance costs in the nation. If you live in Florida, we recommend insuring against the most common and expensive perils when buying home insurance.

Wind damage

High winds caused by storms and hurricanes are one of the most frequent and costly causes of property damage in Florida. Fortunately, wind damage is almost always covered by any homeowners insurance policy. However, owners of some coastal homes that are especially susceptible to wind damage may need to purchase a special wind endorsement.

The good news is that state law requires insurers to offer discounts for homeowners who purchase and pass an optional wind mitigation inspection. You'll receive a list of ways to reduce your home's risk of storm damage, and if you pass, you'll get a home insurance discount that more than makes up for the inspection cost.

Flood damage

Besides wind damage, flood damage is one of the most common perils Florida homeowners face. Unfortunately, water damage due to rain and flooding is usually not covered by standard homeowners insurance policies. If you live in an area with a high risk of flooding, such as at a low elevation or near the coast, we strongly recommend flood insurance. Depending on where you live, flood insurance may be a requirement to qualify for a home loan.

Frequently asked questions

Will my insurance policy be canceled?

It's generally rare for home insurance policies to be canceled, except in cases of fraud, too many claims or increased risk. But the risks of insuring Florida homes have been increasing. Three Florida home insurers, Universal Insurance Co. of North America (UICNA), Gulfstream and Southern Fidelity, announced that together they would be dropping over 50,000 current customers. Those include the riskiest homes, which may have older roofs or wiring.

You should be notified in advance to give you time to find a new policy, but it never hurts to be proactive. Call your insurance agent or customer support if you're worried your policy will be canceled.

Will my home insurance rates go up?

Yes, home insurance rates typically increase every year to keep up with both inflation and risks. And Florida homeowners have faced increasing storm damage, which tends to increase rates over time. Florida home insurance rates have increased by 33% since 2016, compared to the national average of 11%.

It's a good time to shop around for a new policy if you get a notice that your premiums are going up. Since each insurer decides how much to change rates every year, you might find a better deal from another insurer.

Which company has the cheapest home insurance in Florida?

Security First had the lowest rates for homeowners insurance in Florida, with the cheapest annual quote of $519. State Farm came in second at $710 per year, and this company has stronger customer satisfaction scores and is available nationwide. Your actual rates will depend on your property value, location, typical risks, past claims and other factors.

Why is Florida home insurance so expensive?

Florida homes face some extra risks you won't find in every state, including storms, hurricanes and flooding. Insurance companies base their rates on risk, which is why home insurance premiums are higher in states with higher risks of property damage.

What is the average cost of homeowners insurance in Florida?

The average annual rate for Florida home insurance is $2,220, compared to the national average of $1,680. That means Florida home insurance premiums are 32% more expensive.

How do I get cheap home insurance in Florida?

Get quotes from multiple insurers to find your best rate. Make sure you're comparing equivalent coverage types and amounts across policies. You can also get the right amount of coverage by lowering your coverage limits or raising your deductible. Just make sure you're not underinsured and you can still afford your deductible.


For our study of the best Florida home insurance companies, we collected homeowners insurance quotes from nine of Florida's largest home insurers:

  • Tower Hill
  • State Farm
  • Progressive/ASI
  • Universal
  • Florida Peninsula
  • Heritage
  • HCI
  • Chubb

For each insurer, we collected home insurance quotes for a sample house in every ZIP code in the state, providing a comprehensive look at insurance costs statewide. Our sample policy was for a 2,100-square-foot home with $215,300 of dwelling coverage built in 1986 based on U.S. Census median home data.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.