South Florida Homeowners Insurance

The fact of the matter is that Florida’s average cost of homeowners insurance — at $2,533 per year for a $150,000 house, $4,386 for a $300,000 house and $5,849 for a $450,000 house — is among the highest in the country, and those numbers are heavily inflated by premium prices in South Florida. Let’s dig in and evaluate how much you can expect to pay for home insurance in South Florida with a county-by-county analysis.

The average cost of homeowners insurance in South Florida — which only includes the Tri-County area of Broward, Miami-Dade and Palm Beach counties — is annually at $5,731 for a $150,000 house, $9,912 for a $300,000 house and $13,198 for a $450,000 house. That’s likely the highest of any three-county area in the entire United States.

However, that price averages in all three counties. The county you live in heavily dictates the price of premiums you’ll pay for home insurance in South Florida. Of the three counties, Palm Beach County has the most affordable rates, next up is Broward County and Miami-Dade County is among the most expensive counties in the nation.

But those averages aren’t all that meets the eye. You must factor in which home insurance company you choose because each has different rates in different counties. Let’s break down all the counties and the best companies to choose from in those counties.

However, we can dig even deeper to factor in more elements that correlate to the cost of your homeowners insurance premium. The state changed its building codes for houses in 2001 to help prevent destruction from devastating hurricane winds, so homes built before 2001 may not have met the new code standards put in place. 

If your house was built from 2001 to the present day, it must meet building requirements, so you’re going to pay significantly less than those homeowners who have houses built before 2001. That’s because newer homes have been equipped with impact-resistant doors and windows, as well as certain roofing fixtures that help stave off high winds.

But just because your home was built before 2001 — like most houses in the Sunshine State — that doesn’t mean you must forfeit those savings. You just need to add the aforementioned features, get a wind mitigation inspection and enjoy deeply discounted home insurance premiums. Let’s take a look at what you can expect to pay each year in each category in each county.

The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the 2022 rate filings from the state’s largest insurers and can be utilized as an average of what Floridians can expect to pay for homeowners insurance each year.

As you can see and as the numbers reflect, your South Florida homeowners insurance rates can be reduced by thousands of dollars every year if you take the proper steps to mitigate wind damage and get a wind mitigation inspection on your house.

Depending on the area you live in, the cost of your home and the company you choose, that savings could be exponential if you take the proper steps. However, we realize that South Florida is also home to one of the most expensive housing markets in the country, so it may be tough to find a house for $150,000.

Let’s take a look at the average cost of homeowners insurance in South Florida for houses with values of $300,000. It’s also important to note that simple math can predict the prices you pay if your home falls outside either the $150,000 or $300,000 range. So we also broke down the numbers for $300,000 and $450,000 houses.

Some of the best home insurance companies in South Florida for cost and customer service are ASI, Citizens, FedNat, Florida Penn, People’s Trust and Universal Property & Casualty Insurance Company to name a few. All of these companies operate out of Florida and cater many of their policies to Floridians.

As a licensed insurance agent in Florida, we partner with all of these companies and many more homeowners insurance companies in South Florida to provide you with the best rates and coverage.

The consensus among the costs determines that Citizens and Universal Property & Casualty Insurance Company are where you’ll find the cheapest homeowners in South Florida in each of the Tri-County areas.

But while much of your homeowners premiums are determined by the company’s risk portfolio and how many home insurance claims have been filed and paid out in recent years, the remaining cost is determined by external factors like your policy’s deductible, your home’s location relative to crime, your claims history and your insurance score.

Home insurance in South Florida covers your home and personal belongings against things like damage from hurricanes, tornadoes, fires, burglary, water damage and much more. It also protects your financial wellbeing if someone is injured on your property and you’re found liable.

Many of the latter claims related to dog bites, which are some of the most common and costly claims people can file. While there are times when filing a claim may make sense, there are also times when paying out of pocket is the right move.

But let’s tackle the coverages you’ll receive with a homeowners insurance policy from Clovered and throw in a few real-life examples of what’s covered.

With Clovered, getting homeowners insurance quotes in South Florida is easier than ever when you use our online quoting tool. Since we partner with the best home insurance companies in South Florida, we can always get you the best policy at the best price.

Simply answer a few questions about your property, we’ll fill in the rest and then we’ll pair you with the perfect policy at the right price.

If you have any questions during the process, you can chat with our agents on the platform Monday through Friday from 8:30 a.m. to 6 p.m. or call them at 833-255-4117 during that same timeframe. You can also reach them anytime by email at agent@clovered.com.