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The Best Homeowners Insurance Companies in Florida of 2021
We know you want to find out which homeowners insurance companies are the best, so we’ll get right to it.
- Great Overall: State Farm
- Great for Damage Amount: USAA
- Great for Bundling: Allstate
- Great for Low Rates: Universal Property Casualty (UPC)
- Great for Customer Service: St. Johns Insurance
- Great Locally Based Provider: Florida Peninsula Insurance Co
When assessing home insurance companies, we looked at price, value and customer service. But we’ll get into that in a bit.
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You might wonder, how can you get a Florida home insurance quote that has both adequate coverage and is affordable?
While location in the state is obviously a huge factor because of weather events like high wind and hurricanes, there are other concerns that decide your rate, including age of the home and the roof’s condition.
We’ve researched the top six homeowners insurance companies and compared them using our SimpleScore methodology to help you find the right company and coverage for your needs.
Methodology
To arrive at our choices in home insurance companies, we reviewed coverage options, available discounts, customer satisfaction, support and accessibility to assess the top home insurance companies in Florida. This allows us to create our SimpleScore.
We also referenced Bankrate, Insurance Information Institute, Consumer Reports, J.D. Power and other authoritative organizations to arrive at our decisions.
The best home insurance in Florida of 2021
Great overall – State Farm
State Farm is a great insurance provider for homeowners who want a reputable company with good customer service, flexible coverages and low premiums.
State Farm is a nationwide insurance company with a long-established history of top-notch customer service. There are 19,000 independent agents, so you have a good chance to find a State Farm agent with the right coverage in your area.
State Farm’s exact insurance rates vary by state and individual situation, but the company offers a few discounts to help homeowners save money on their insurance.
Additionally, State Farm stands out for its customer reviews. In J.D. Power’s 2020 U.S. Home Insurance Study, State Farm was rated 7 out of 24 for overall customer satisfaction. The company has also demonstrated financial stability with an A++ rating from A.M. Best.
Great for damage amount – USAA
USAA received some of the top scores with Consumer Reports, including 5 out of 5 for damage amounts and timely payments, due to satisfaction from customers in both categories.
USAA has industry standard coverage options like dwelling, personal belongings, liability, loss of use, other structures, home sharing and earthquake. And there are also military-specific perks for active duty and deployed members like coverage for uniforms if lost or damaged.
The company ranks high among insurers for its customer satisfaction. USAA earns top marks from third-party surveyors for its communication, billing process, claims, cost of service and policy offerings. You can find similar perks and service quality with its other insurance policies like auto, life and more niche insurance like pet, small business, travel or special events.
Great for bundling – Allstate
Allstate’s bundling options make it a strong choice. With auto, home and motorcycle insurance available, you can maximize your discounts.
Floridians looking to save money have the great opportunity with Allstate. Discounts include a 10% welcome discount, 5% for setting up autopay and for being over the age of 55 and retired. You can also find policy discounts for remaining claim-free, installing fire protection devices, purchasing a new home, being a smoke-free home and having protective features like storm shutters.
Allstate might grant members 10% off an auto policy and 25% off home premiums for bundling auto and home insurance. You can bundle your policy with life insurance as well at varying discounts. We recommend calling a local agent for specific opportunities.
Florida’s best regional home insurance companies
Great for low rates – Universal Property & Casualty
Universal Property & Casualty offers home insurance discounts with a lot of options.
Despite being a subsidiary of the largest insurance provider in Florida (Universal Insurance Holdings), Universal Property & Casualty’s online presence isn’t as strong as some of the other companies that dominate the Florida home insurance market. However, it makes up for that by offering some of the lowest rates depending on your specific circumstance.
Universal prides itself on its superior customer service, and it offers assistance from a real person. During times of natural disaster or catastrophe, Universal still allows policyholders to file claims 24/7 by rerouting them through an efficient automated system and having representatives reconnect with them.
Universal Property & Casualty may be a great choice for Floridians who are on a budget. The company offers discounts for having home protective equipment, being claims-free, being a loyal customer, having a new roof, bundling policies, having windstorm-protective features, and being over the age of 65.
Great for customer service – St. John’s Insurance
St. Johns offers standard home insurance, with limited coverage. However, the company stands out for its personalized customer service and friendly agents.
St. Johns is a privately held Florida company that specializes in homeowner’s insurance products. In addition to home insurance, St. Johns also sells condo, landlord and personal umbrella insurance. We chose St. Johns as a great home insurance provider in Florida because of the top notch customer service.
Though you can expect a high level of expertise from a company with such a specialized focus, policyholders are unable to benefit from multi-policy discounts that larger, more diversified companies can offer. However, St. Johns boasts an A rating in financial stability from Demotech, Inc., excellent customer service and competitive pricing for its policies, making St. John a top provider of Florida home insurance.
Great locally based provider – Florida Peninsula Insurance
Florida Peninsula has good coverage, excellent financial strength and great reviews across the board.
Experience handling hurricane claims is a selling point for Sunshine State property owners. Policyholders can file claims not just by phone but also online and take advantage of a robust learning center on the company website.
One potential drawback is that the company serves “just about” every Florida city, which doesn’t guarantee that coverage is available in your area.
Average cost of homeowners insurance in Florida
The average cost of homeowners insurance premiums in Florida was $1,960, the Insurance Information Institute found for 2018, the most recent year for this data. That compares to the national average of $1,249 for the same year.
(These figures are based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 family units. It provides all risks coverage (except those specifically excluded in the policy) on buildings and broad named-peril coverage on personal property, and is the most common package written.)
Florida ranked second for average homeowners insurance premiums, behind only Louisiana. The lowest? It was Oregon at $706 a year.
| Rank | State | Average premium |
| 1 | Louisiana | $1,987 |
| 2 | Florida | $1,960 |
| 3 | Texas | $1,955 |
| 4 | Oklahoma | $1,944 |
| 5 | Rhode Island | $1,630 |
Choosing a national or a local Florida insurance company
Florida is one state in particular that has a lot of regional insurance providers to choose from, like the Florida Peninsula Insurance Company, in addition to the usual big-name companies like State Farm and Allstate.
Pros and cons of Florida home insurance companies
| Pros | Cons |
| Personalized service | Not available everywhere |
| Local access | Can offer more dated technology |
| Regional expertise |
Pros and cons of national carriers
| Pros | Cons |
| Can provide more services | Lack of regional coverage |
| Usually has a greater service area | More difficult to receive personal assistance |
| Better technology and growth |
Things to know about home insurance in Florida
Keep in mind that homeowners insurance rates in Florida will be heavily impacted by geographical location. Coastal areas of Florida may see higher rates than inland areas due to the increased risk of hurricane damage. For example, a property in the Keys could face much higher insurance premiums than a city located in the middle of the state.
What type of home insurance coverage do I need in Florida?
Coastal insurance agencies may encourage specific coverage for hurricane-related damages. Your insurance agent may also recommend purchasing flood insurance.
Hurricane insurance in Florida
Florida homeowners insurance includes hurricane coverage, however, you may have a higher hurricane deductible, separate from your standard deductible. A hurricane deductible will only apply if you file a claim for hurricane-related damage.
Hurricane deductibles usually range between 2% and 10% of the value of your property. In Florida, you also have the option to get a $500 deductible, but your annual premium may be much higher. You need to decide if you’d rather pay a higher rate on an ongoing basis, or take your chances and pay a higher deductible before reimbursements kick in when you file a claim.
Also, your agent may discuss with you “wind-driven rain.” Having this extra line item may protect you from rain that causes damage because wind pushed it in an opening.
Flood insurance in Florida
Although flood insurance does not come in a standard policy, obtaining a flood insurance policy in states like Florida is popular.
Flood insurance may protect you in the event of water overflow caused from things like hurricanes, landslides and earthquakes.
[ Read more: Understanding Your Homeowners Insurance Declarations Page ]
Florida home insurance requirements
Home insurance isn’t required in Florida, but your mortgage lender may still require some form of it until your home’s loan is paid off to help cover your mortgage.
Even though home insurance isn’t required, many opt for it in case the unexpected happens. Your policy coverage can help cover repair costs if there’s ever a break-in or severe storm. Overall, home insurance might cover property damage, belongings and repairs in specific situations.
Types of home insurance policies in Florida
There are different types of home insurance for Florida residents. Your policy depends on your home’s structure and your personal needs. Some policies will cover the home’s structure, while other insurance choices have a few exceptions. It’s best to speak with your insurer to find the best coverage for your Florida home.
Mobile home: Mobile home insurance protects a manufactured or mobile home from damage. Most mobile home policies also cover your valuables. If your insurer doesn’t offer mobile home insurance then dwelling insurance coverage is an alternative that can cover your home and belongings.
Renters: Renters insurance can cover the tenant’s belongings and liability, but this policy doesn’t cover damage to the rental apartment, townhouse or condo as that is covered by the landlord’s policy.
Owner-occupied: This insurance is typically for an owner’s primary single-family home. Owner-occupied insurance is better known as “homeowner’s insurance” to cover the home structure and valuables.
Condo unit: Condo owners usually get condo insurance to cover what your homeowners association (HOA) won’t cover including unit damages, liability and stolen valuables.
Florida home insurance FAQs
Home insurance in Florida is not mandatory, but mortgage lenders may require it. Your agent may recommend home insurance if you’re going to live in Florida where the risk of natural disaster is high.
Under a replacement cost homeowners policy, your home is covered for the amount it would cost to replace your home and home contents at current costs. Under an actual cash value policy, your home is covered for replacement cost minus depreciation.
Most standard policies include coverage for hurricanes or other natural disasters, however some exceptions, such as floods and earthquakes, may apply. Speak with your insurance agent about adding coverage to make sure you have protection from the disasters most likely to happen in your area.
Home insurance rates in Florida are based on a few factors, and each insurer has different coverage options at different rates. As you shop around you’ll find that most rates take into account the home’s location, age, construction and square footage. You may also get credit for systems that help reduce damage such as a professionally monitored security system to reduce the risk of theft.
Too long, didn’t read?
In a state like Florida where tropical storms, hurricanes and flooding can wreak havoc, your agent may recommend home insurance to protect your home and belongings. Be sure to research your options to find the best coverage for your neighborhood in Florida. And be aware that Florida home insurance quotes can be higher than in other states, but we have some tips on things that can help you lower the cost of your home insurance policy.
We welcome your feedback on this article and would love to hear about your experience with the home insurance companies we recommend. Contact us at inquiries@thesimpledollar.com with comments or questions.
Keep Reading
Methodology
The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
For every review, our editorial team:
- Identifies five measurable aspects to compare across each brand
- Determines the rating criteria for each aspect score
- Averages the five aspect scores to produce a single SimpleScore
Here’s a breakdown of the five aspect scores and their rating criteria for our reviews on home insurance.
Why do some brands have different SimpleScores on different pages?
To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.
However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.
Discounts
We looked at the number of discounts each company offers – more discounts mean a higher score.
Coverage Options
We awarded higher scores to the companies that offer more coverage options.
Support
We awarded higher scores to companies with the most channels for customer support.
Customer Satisfaction
We leveraged the J.D. Power 2019 Home Insurance Satisfaction Study℠ to see how customers rated their experience with each company. (If a company wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)
Accessibility
We looked at the level of accessibility of each company – the more resources they have the higher their score
Reviewed by
Courtney Mihocik
Loans EditorCourtney Mihocik is an editor at The Simple Dollar who specializes in personal loans, student loans, auto loans, and debt consolidation loans. She is a former writer and contributing editor to Interest.com, PersonalLoans.org, and elsewhere.
