Who Has the Cheapest Homeowners Insurance Quotes in Florida?
Find the Cheapest Insurance Quotes in Your Area
ValuePenguin’s analysts recently took a look at homeowners insurance rates in the most expensive state in the US, Florida. Florida’s homeowners insurance rates are notoriously high because of the sheer amount of coastal real estate and the fact that it’s hit by more hurricanes and tropical storms than any other state. Florida also isn’t any stranger to tornadoes. In our study we aimed to determine which counties in FL had the most expensive (and most affordable) homeowners insurance rates. The state average according to our research was $1,952 per year. Additionally, if you’re interested in figuring out which companies offer the best home insurance rates in your area of Florida you can search for rates using our quote tool.
Cheapest Homeowners Insurance Companies in Florida
We looked at five of the top homeowners insurance companies by market size throughout the state of Florida. Those companies are Citizens Property, State Farm Florida, Universal Property, St. John’s Insurance, and Safeway Insurance. In the chart below you’ll see each of the five companies along with their annual average insurance premium for both a $150,000 and $300,000 home.
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Best Homeowners Insurance Rates in Florida: by County
What do the five cheapest FL counties for homeowners insurance have in common? They’re all in the northern half of the state. Historically, these five areas have seen just a fraction of the high wind damage caused by hurricanes, tropical storms, and tornadoes that ravage other parts of the state. Four of the five counties sit within about a 50 mile radius of Jacksonville on Florida’s northeast coast while the other (Leon) is located 15 miles inland on the Florida Panhandle.
At the center of Leon County is the home of the Florida State University Seminoles, Tallahassee. The county itself is home to almost 300,000 residents and fortunately for all of them, their homeowner’s insurance costs are the lowest in Florida! At $1,120 per year, Leon County is 50% cheaper than the state average.
The largest county on our Top 5 cheapest list, Duval and its county seat Jacksonville have the 2nd most affordable homeowners insurance premiums in The Sunshine State at $1,227 per year or just over $100 per month.
Bordered by 2nd place finisher Duval County to the north, Clay County has the 3rd cheapest homeowners insurance in the state. The majority of the residents in Clay County reside in both Middleburg or Orange Park. The 190,000+ citizens of the county pay $1,349 per year to insure their home, or 40% less than the FL average.
Home to Gainesville, FL and the University of Florida Gators, Alachua sits 75 miles SW of Jacksonville almost equidistant between the Atlantic and Gulf Coasts. Homeowners insurance rates in Alachua are some of the cheapest in the state at an average of $1,376 annually.
Just east of Gainesville you’ll find Putnam County. Home to almost 75,000 Floridians, Putnam’s largest city Palatka sits on the banks of the St. John’s River and only 20 miles or so from the shores of the Atlantic Ocean. Homeowners insurance premiums in Putnam County average an affordable $1,392 per year.
Most Expensive Counties in Florida for Homeowners Insurance
When looking at the five most expensive counties in Florida for homeowners insurance two things jumped out, and not surprisingly so. First, unlike our cheapest counties, the 5 most expensive parts of the state all had a significant amount of ocean front exposure leaving themselves more susceptible to high winds from hurricanes and tropical storms. Second, all five counties were located towards the southern half of the state.
Having experienced more hurricane strikes over the last 110 years than any county in Florida, it comes as no surprise that Monroe County and its Florida Keys have the most expensive homeowners insurance rates in the state by a mile. At $5,543 annually, rates in areas like Key West are 28% higher than the next most expensive county and almost 150% higher than the state average.
The spot of the 2nd most hurricane landings since 1900, the cities of Miami-Dade, while not as expensive as Monroe County, are incredibly pricey. At $4,343 per year or $362 per month, homeowns insurance premiums in the county are 3x as much as Florida’s cheapest cities.
Martin County on the Atlantic Coast ranks as our 3rd most expensive area of Florida at $4,136 per year. Popular towns in Martin County include Stuart and Jupiter Island. The 146,318 citizens of the county pay 84% higher premiums than the average Florida city.
Home to Naples, FL, Collier County borders to the north of our 1st place finsher, Monroe County. With annual homeowners insurance premiums of $3,804, Collier County is $332 cheaper than 3rd place Martin County but still 70% more than the Florida state average.
Indian River County
Rounding out our Top 5 Most Expensive FL Counties for Homeowners Insurance, Indian River County is our northernmost finalist. Best known for its popular beach destination, Vero Beach, county residents can expect to shell out just north of $3,700 annually, or $308 each month.
Average Cost of Homeowners Insurance in Florida: by County
If you’re interested in other FL counties beyond just the top and bottom 5, we’ve gone ahead and included all 67 counties in our table below. They are listed from cheapest (Leon County) to most expensive (Monroe County). The dollar amounts represent the average annual amount paid for homeowners insurance in the area.
The quotes we compiled were for two different house types and the rates were averaged to give us our final number. The first house was a masonry home valued at $150,000, built in 1990 with a $500 non-hurricane deductible and a 2% hurricane deductible. The house has maximum wind mitigation features. Our second home was also a masonry house. This residence was built in 2005 and is valued at $300,000. It has a $500 non-hurricane deductible, a 2% hurricane deductible and limited wind mitigation features on the home.
Insurance rates were analyzed for 4 different insurance companies: Safeway Property Insurance Company, Citizens Property Insurance Corporation, State Farm Florida Insurance Company, Universal Property Casualty Insurance Company, and St. John’s Insurance Company. The latter four companies on that list are the top home insurers in the state of Florida.
Surveyed homeowners insurance costs in Florida are for illustrative purposes only and actual quotes will vary based on your physical residence, claims history, and other factors.