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How much is average homeowners insurance in Florida?

Florida is home to some of the highest homeowners rates in the entire country. In fact, rates are nearly double the national average. You can expect to pay around $1,990 annually for homeowners insurance in Florida.

So why is coverage more expensive here in the Sunshine State than elsewhere? According to, the number one factor for more expensive rates is hurricanes. In addition, Florida is also vulnerable to raging wildfires and other severe storms that cause major damage to homes each year.

What does my Florida homeowners Insurance do?

As you may already know, your home insurance will be able to provide you with a backup in the event of a disaster striking your home. Whether its a fire or a burglary, you are covered if you have a proper policy. Keep reading below to see what exactly your policy will cover.

First, a policy will pay for repairs that need to be done to your home or your belongings. For example, a tree bursts through your window and breaks your new tv. This incident would be covered.

Next, your fl homeowners insurance will pay for anyone else’s injuries or property damage if you are found at fault. For example, your child damages your neighbor’s window. You would be covered.

Finally, a policy will pay for any temporary living expenses if your home becomes damaged. For instance, your roof caves in and needs to be repaired. You would have to find a temporary living expense while your roof is being repaired.

How are Fl home rates calculated?

You may be wondering how rates are calculated. Most insurers calculate risk by simply asking “What’s the likelihood of something bad happening?”. The more likely something bad is going to happen, the more expensive of a home policy you will receive. Let’s face the facts, FL is definitely a risky state compared to the rest of the US.

One of the main factors for higher rates is crime. In fact, the crime rates here are higher than the national average. As a homeowner, you should be aware of this risk and take proper steps to protect your property.

Another major factor is the weather according to Florida is well known for its extreme weather. The weather can definitely cause a few difficulties for local residents.

Finally, home values is another determining factor. The estimated cost to rebuild your home will play a role in how much a policy will cost you. Home value is slightly higher in FL compared to the rest of the nation.