Best homeowners insurance in Florida in 2021

The Sunshine State may be a gorgeous place to live, but Florida homeowners can face several hazards each year. Having a proper home insurance policy is crucial to your financial health. While there are dozens of companies on the market, Florida rates and coverage options can vary significantly by insurance company, making it important for you to shop your options to find the best homeowners insurance in Florida. Some of the best home insurance companies in Florida include Travelers, Chubb and Security First, according to Bankrate’s review of average annual premiums, available coverage and third-party industry ratings.

As a coastal state, Florida is susceptible to numerous natural disasters. The risk of catastrophic weather-related incidents in Florida, like hurricanes, can drive up home insurance costs. The average annual Florida home insurance premium is $1,353, slightly more than the national average rate of $1,312 per year. Depending on how close your Florida residence is to the coast, you may see much higher costs.

Best home insurance companies in Florida

As a Florida homeowner, you have a range of insurance companies to choose from. To help you find the insurance company that is right for you, Bankrate reviewed satisfaction scores from the J.D. Power & Associates U.S. Home Insurance Survey, which evaluates top insurance providers based on customer satisfaction. Quadrant Information Services was also used to identify current 2021 quoted Florida premiums. Based on the data analyzed, below are our choices for the best homeowners insurance companies in Florida.

Our editorial team confirmed these five carriers do write Florida homeowners insurance policies. However, because of the unique risks that Florida homes face, coverage may be limited to certain ZIP codes, homes of a certain age or homes with specific safety features, like wind mitigation measures.

Home insurance company	Average annual premium for $250K dwelling	J.D. Power customer satisfaction score
Allstate	$1,410	829/1,000
Chubb Insurance	$1,417	778/1,000
Security First	$451	Unrated
State Farm	$1,404	829/1,000
Travelers	$918	803/1,000

If you need home insurance in Florida, you may need to contact a local agent. Some areas of Florida present a particularly high risk of weather-related claims, which means that a local company representative may need to be involved in the quoting and application process.

Allstate

Between having agents in well over 150 cities in Florida and its convenient mobile app that allows users to take full advantage of their policies, Allstate is an excellent home insurance provider for homeowners in the state. There are multiple ways to save on your premium, such as being a new home buyer or having a good payment history. As Florida can be a popular location for vacation home rentals, Allstate’s HostAdvantage home-sharing insurance could come in handy, which offers coverage for damage and theft caused by renters.

Chubb

Chubb homeowners insurance offers extensive coverage for Florida homeowners. A few of its policy highlights include extended replacement cost coverage to rebuild your home or a cash settlement option if you decide not to rebuild after a covered loss. For a storm-heavy state such as Florida, Chubb’s pre-included “extras” could also benefit homeowners with tree removal and home inspections to prevent problems before they escalate

Security First

Security First is not only a Florida-based insurance company, which may be appealing to those looking to keep their coverage local, but it also offers the lowest average premium on our list. You can choose your insurance based on your home’s age and receive discounts for living in a secured community and having wind-resistant home features. Security First also has a host of optional coverages, including flood, golf cart coverage and coverage for screened enclosures.

State Farm

State Farm has local agents in more than 100 locations throughout Florida. Homeowners looking for an in-person insurance experience might appreciate these local agencies. Although the company’s average premium is higher than Florida’s average, State Farm offers several ways to lower your rate. For example, if you take extra precaution by installing impact-resistant roofing materials, you may qualify for a discount.

Travelers

Travelers offers home insurance well below the Florida average premium at $918 per year. For homeowners looking for even more savings, there are discounts available for having protective devices installed, a green-certified home and being loss-free for a period of time. Travelers also has optional coverage for water backup and sump pump failure.