The Best and Cheapest Homeowners Insurance Companies in Florida

State Farm is the best home insurance for most people in Florida, with an average rate of $1,871 per year.

Find Cheap Home Insurance Quotes in Florida

Currently insured?
It's free, simple and secure.

Florida's best cheap home insurance

To find the best homeowners insurance in Florida, our editorial team reviewed major insurers and collected thousands of Florida home insurance 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 cheapest home insurance quotes in Florida

Tower Hill has the cheapest homeowners insurance rates in Florida, with an average cost of $1,242 per year. That's less than half the state average and $629 less than the second-cheapest company, State Farm.

Bar chart showing the most affordable homeowners insurance options in Florida

Find Cheap Home Insurance Quotes in Florida

Currently insured?

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

Florida's average home insurance rates vary widely. The difference between Tower Hill and Chubb, the cheapest vs the most expensive company, is $1,933 per year. You could save $1,500 or more by comparing quotes from multiple home insurance companies.

Cheap annual home insurance quotes in Florida

Annual cost
Tower Hill logo
Tower Hill
State Farm logo
State Farm
Progressive logo
Universal logo
Florida Peninsula logo
Florida Peninsula$2,437
Show All Rows

Best overall home insurance in Florida: State Farm

  • Editor rating

  • Annual rate

    $1,871 ?

Pros and cons

  • Reliable customer service
  • Excellent financial stability
  • Not the cheapest company

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

Home insurance coverage options from State Farm include earthquake, sewer backup and flood coverage.

State Farm also has a strong financial rating, which could be important during a large-scale natural disaster, such as a hurricane. Many home insurance companies have stopped selling policies to Florida homeowners due to its higher tropical storm risk, among other factors, but that's generally less likely with bigger national companies like State Farm.

Best cheap home insurance rates: Tower Hill

  • Editor rating

  • Annual rate

    $1,242 ?

Pros and cons

  • Low rates
  • Great customer service
  • Flood coverage
  • No online quotes

For Florida homeowners focused on the lowest possible rates for homeowners insurance, Tower Hill has the cheapest 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. You can also get coverage add-ons like equipment breakdown and debris removal coverage, which is handy after a tropical storm. Tower Hill gets notably fewer complaints than average.

But you'll have to call a Tower Hill agent to get home insurance coverage, since the company doesn't offer online quotes. And while you can get home, flood and even boat insurance from Tower Hill, you won't be able to bundle with auto insurance in Florida.

Best rates for hurricane-related coverage: Florida Peninsula

  • Editor rating

  • Annual rate

    $2,437 ?

Pros and cons

  • Useful coverage add-ons
  • Extended flood insurance limits
  • Expensive rates

Florida Peninsula Insurance offers unique benefits and expertise in insuring coastal homes. However, with an average annual home insurance rate of $2,437, Florida Peninsula is just average when it comes to cost, and higher than average rate of customer complaints.

Florida Peninsula has good policies for homes near the ocean, with 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. The government-sponsored flood insurance from the National Flood Insurance Program (NFIP) limits flood coverage to $250,000, so Florida Peninsula's high limits should be enough for all but the most expensive homes in Florida.

Best home insurance for people who can't find cheap coverage: Citizens

  • Editor rating

Pros and cons

  • Affordable insurance for homes in high-risk areas
  • May be the only option for some Florida homeowners
  • Very few coverage options
  • Poor customer service reviews

Citizens is a nonprofit insurance company run by the Florida state government. Citizens is known as an "insurer of last resort," which means that it's an option for people who are struggling to find coverage from a private company.

But Citizens Insurance isn't available to all Florida homeowners. To buy a policy from Citizens, you must meet one of two criteria:

  • You're not able to find home insurance coverage from a privately run company.
  • Quotes from private companies are 20% more expensive than rates from Citizens.

Citizens may be the only option for some homeowners, but there are some downsides. Its coverage options are very limited. That means it's not a good fit for people who want extra protection. For example, Citizens only offers $100,000 of liability protection, so if you're worried about a lawsuit, you may need to buy an umbrella policy somewhere else.

In addition, the Florida government recently passed a bill that requires all Citizens customers in Florida to get flood insurance by 2027. That includes people who don't live in a high-risk area for flooding.

However, not everyone needs to get a flood insurance policy right away. Homeowners who live in a special flood hazard area (SFHA) will need flood insurance in 2023. This includes people living near the coast or a large body of water, like a lake. These homeowners are probably already required to have flood insurance by their mortgage company.

Which Citizens customers need flood insurance?

  • April 1, 2023: New customers with homes in an SFHA flood zone
  • July 1, 2023: Homes in an SFHA flood zone with wind coverage
  • Jan. 1, 2024: Homes insured for $600,000+
  • Jan. 1, 2025: Homes insured for $500,000+
  • Jan. 1, 2026: Homes insured for $400,000+
  • Jan. 1, 2027: All customers

Cost of Florida insurance by city

Gainesville has the cheapest home insurance rates in Florida, while Hialeah has the most expensive quotes 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

The best home insurance companies in Florida

State Farm and Tower Hill are the best-rated Florida home insurance companies.

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 does home insurance cover in Florida?

Florida's location on the Gulf Coast leaves it vulnerable to several major insurance risks, 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, which include winds, storms and flooding.

In May, Florida passed a law to help homeowners combat the state's high insurance cost. It aims to reduce fraudulent roof claims and limit legal fees, which cost Florida insurers a lot of moneyand drive up high home insurance rates.

The new law also prohibits insurers from denying coverage for homes with roofs less than 15 years old.

In addition, the state is contributing $150 million to the My Safe Florida Home program, which provides grants to help Florida homeowners update their homes with hurricane-resistant features like exterior doors and reinforced roof-to-wall connections.

The program will pay $2 in grant funds for every $1 a homeowner spends on eligible improvements, up to $10,000.

Wind damage

High winds caused by storms and hurricanes are one of the most common 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 get a special wind endorsement.

The good news is that state law requires insurers to offer discounts for homeowners who pass an optional wind mitigation inspection. You'll get 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 risks 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, consider purchasing flood insurance from a private insurer or the NFIP. Depending on where you live, flood insurance may be a requirement to qualify for a home loan.

Frequently asked questions

Will my Florida 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. Four Florida home insurers — Avatar, Lighthouse, Southern Fidelity and St. John's — have become insolvent in 2022, meaning they don't have enough money to cover their debts or pay claims. Together, the companies account for over 250,000 home insurance policies in Florida. In addition, FedNat announced plans to cancel 68,000 policies.

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 rates are going up. Since each insurer decides how much to change rates every year, you might find a better deal from another company.

Which company has the cheapest home insurance in Florida?

Tower Hill has the cheapest quotes for homeowners insurance in Florida, averaging $1,242 per year. State Farm came in second at $1,817 per year, along with having better customer satisfaction scores and access to online quotes. 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 rates are higher in states with higher risks of property damage. Florida also faces more cases of fraud than other states, especially for roof replacement.

What is the average cost of homeowners insurance in Florida?

The average annual cost of Florida home insurance is $2,220, compared to the national average of $1,680. Florida home insurance rates are 32% more expensive than other states.

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 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.

For quotes by city, we compared the cost of home insurance for every ZIP code across the 54 major cities in the state with populations over 50,000.

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.