Saturday, January 15, 2022

Cheap Homeowners Insurance in Florida – Save $1208 Annually with These Companies

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Okosun Johnhttps://jokoshq.com
A B.Eng. holding mechanical engineer with love for content creation and web development.

Today, I am going to show you the best rated Cheap Homeowners Insurance in Florida and companies to save $1208 annually with.

If you’re a Florida resident looking to purchase a home or condo, homeowners insurance is a necessity. Although Florida can be appealing for those who enjoy warm weather, living in the Sunshine State has its hazards, too. To find the best homeowners insurance in Florida, we reviewed major insurers and collected thousands of Florida quotes.

The majority of lenders will require you to take out a policy when you purchase a home. Homeowners insurance can be particularly costly because of the state’s frequent natural disasters. Homeowners insurance, or home insurance, is a way to financially protect yourself in case of a disaster. So, what is the average cost of homeowners insurance in Florida? The homeowners insurance in florida average costs is $1,727 per year.

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The best Florida homeowners insurance covers your home, other structures, and belongings from regular occurrences of small problems, like leaking pipes, and litigation expenses as a result of major risks, such as a hurricane, sinkhole, and flood damage. We recommend homeowners compare service and coverage from different home insurers to find the best coverage in Florida.

While other insurance companies withdraw from Florida because of the high cost of hurricanes. Residents of Florida still have plenty of options when it comes to getting cheap homeowners insurance. In this guide, we will provide information about top insurance companies in Florida taking into account coverage, cost and benefits of each company.

Why is home insurance in Florida so expensive?

If you own a home in Florida, you would be paying more for your homeowners insurance. Florida is repeatedly named one of the most expensive states when it comes to homeowners insurance. According to NerdWallet.com, Florida is the seventh-most expensive state in the country for home insurance.

The only few states where average homeowners insurance costs are higher includes Louisiana at an average of $1,968 per year. What frustrated the property owners in Florida after they have landed their favourite house is the sky-high Property Insurance. It’s one of the unfortunate downsides to living in this beautiful, vibrant state.

Research shows that Florida homeowners are paying double the insurance cost. The reasons for climbing homeowners insurance in Florida costs are complex. Florida has catastrophe exposure on both its east and west coasts since it sits between the Atlantic Ocean and the Gulf of Mexico.

No area in the country, or arguably the world, has a stretch of coastline as expensive and hurricane-prone as Florida. Florida is surrounded by water on three sides, making it vulnerable to severe storm patterns. Of all U.S. hurricanes, a staggering 40 per cent hit Florida, according to the National Oceanic and Atmospheric Administration.

The costs associated with damage from the driving winds and rain can be astronomical. Because of this difficult-to-manage risk, many insurance companies have stopped writing Homeowners Insurance in Florida. Each year, insurers pour billions of dollars in their disaster coverage for clients across the nation.

Hence, The Florida insurance market is dominated by companies that do nearly all of their business within the state. In summary, why is it so hard to get homeowners insurance in Florida?

  1. Natural Disasters: Florida is the hurricane capital of the United States. The major reason why home insurance is so expensive in the area is due to the risk of natural disaster. Damage from hurricanes — plus tropical storms and even extreme rainstorms — can increase the risk for insurers. Natural disasters have created a constant threat to the properties which has led to an increase in the home insurance premium.
  2. Extreme weather: The climate in Florida can damage household systems and cause faster-than-normal equipment breakdowns, which in turn lead to homeowners insurance claims.
  3. Politics and Regulators:  In 2011, the government allowed insurers to increase premium to 15% even same the said government does not provide relief. Florida Insurance regulation approved 18.7% of an increase in the insurance. Even after so many years, these have not been altered.
  4. Legal Issues: Litigation costs tend to be passed along to consumers, and Florida insurers had almost $3 billion in lawsuit-related expenses in 2019 alone.
  5. Insurance Companies’ Model and Competition: Insurance companies in Florida follow the wind-estimate model which leads to an reinsurance purchase increase.

How can you lower your Florida homeowners insurance premiums?

It’s no secret that Florida has the highest homeowners insurance rates in the country. The price you pay for your homeowners insurance in Florida quotes can vary by hundreds of dollars. Purchasing a home can provide benefits to the owner, but the investment must be protected with the homeowner’s insurance.

Hence, the cost of Homeowners Insurance in Florida is one of those unavoidable expenses that come along with owning a house. Homeowners insurance continues to rise across the country, particularly in catastrophe-prone areas such as Florida. However, there are not many actions you can take to reduce your tax obligation, but how much you’ll pay for insurance varies depending on your location and the age of your home.

There are discounts and credits available that can reduce premiums annually. But you don’t have to move away from the coast to save on your policy. Here are some things to consider when buying Homeowners Insurance in Florida quotes.

  • Get a Fortified Roof: Homeowners in Florida can with acclimate their self to the FORTIFIED Home Program from the Insurance Institute for Business and Home Safety (IBHS).
  • Raise Your Deductible: Your deductible is the amount of risk you agree to accept before the insurance company starts paying on a claim. Generally, the higher your deductible, the lower your premium. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent.
  • Shop Around for New Policies: It’ll take some time, but could save you a good sum of money. When the time to renew your policy starts to roll around again, buckle down and do some research. You should periodically other insurers to make sure that you’re still getting the best possible rate.
  • Consider flood insurance: Most home insurance doesn’t cover damage from flooding. However, Florida is a natural disaster-prone region, hence it pays to consider flood insurance.
  • Get a Wind Mitigation Inspection: Florida homeowners insurance companies offer credits/discounts to homeowners who take measures to make their homes more wind resistant.
  • Buy your home and auto policies from the same insurer: When you buy both home and auto insurance policy from same company, most companies would usually offer you huge discounts.
  • Get every available discount: Insurers offer a variety of discounts to homeowners for good behavior, such as performing regular maintenance on the structure. If you’re at least 55 years old and retired, you may qualify for a discount of up to 10 percent at some companies.
  • Maintain a High Credit Score: Establishing a solid credit history can cut your insurance costs. If your credit score recently increased, it could affect your homeowners insurance cost. Insurers are increasingly using credit information to price homeowners insurance policies.
  • Upgrade your Home’s Security: You can get discounts for a smoke detector, burglar alarm or dead-bolt locks. Ask your insurance provider how these upgrades could reduce your homeowners insurance cost.

What is the average cost of homeowners insurance in Florida?

Not all cities in the Sunshine State have the same homeowners insurance rates. The homeowners insurance in Florida average costs in your area may vary drastically depending on your proximity to the coast. To find cheap homeowners insurance in Florida, we reviewed major insurers and collected thousands of Florida quotes.

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Prices for property insurance may depend on locally specific variables. Several factors can affect your homeowners insurance in Florida average costs. You can expect to pay significantly more if you live in a hurricane-prone area. According to ValuePenguin, the average cost of home insurance in Florida is $1,727 per year.

What does homeowners insurance in Florida cover?

You are probably aware of some of the common causes of home damage. Your Homeowners Insurance in Florida coverage is designed to protect your house, your belongings and your liability exposure. A typical homeowners insurance policy includes several types of coverages, coverage limits and deductibles.

Losses like theft, vandalism and wind damage are often frequently covered on a standard homeowners insurance policy. In most policies, what is covered is explicitly listed out and can be grouped into the categories below. If someone steals your identity your home insurance could step in to pay for the damages.

Additionally, Homeowners Insurance in Florida provides “loss of use” in the event you need to temporarily relocate because your home is unlivable. You can often add additional optional coverages as needed. Usually, earthquakes and floods are specifically excluded and require the purchase of additional insurance. And within homeowners policies, there are different policy forms that offer different packages of coverage.

Here are the main coverage types that a standard home insurance policy can have:

  1. Dwelling Coverage
  2. Personal Property Coverage
  3. Personal Liability Coverage
  4. Other Structures Coverage
  5. Loss of Use Coverage

Cheap Homeowners Insurance in Florida

Owning a home means a lot of responsibility. To find the cheapest homeowners insurance companies in Florida, we reviewed major insurers and collected thousands of homeowners insurance in Florida quotes. Unlike many states, Florida homeowners experience hurricanes and floods throughout the year. When choosing the best homeowners insurance in Florida, look for providers that offer discounts, competitive rates and unique benefits.

Homeowners insurance can be particularly costly because of the state’s frequent natural disasters. Since your home is likely your most important investment, covering it with a comprehensive homeowners insurance company is crucial. Homeowners insurance in Florida quotes offers protection in case of an unexpected event. Residents of Florida still have plenty of options when it comes to getting cheap Homeowners Insurance in Florida.

You could save $1,000 or more by comparing quotes from multiple companies.

Let’s take a lot at Cheap Homeowners Insurance in Florida.

American Integrity Homeowners Insurance in Florida

Let’s face it, with increasing natural disasters, Florida is a tough place to own a home in recent years. Every year, about 1 in 20 property owners file a homeowners insurance claim. One of many recent entrants into the Florida homeowner’s insurance market, American Integrity tries to differentiate itself by promising to live up to its name.

American Integrity, is a serious contender in the insurance market.  American Integrity is a home insurance company that provides coverage for homeowners in the state of Florida. Voted the best place in Tampa Bay to work, in 2014. They specialize in Florida homeowners insurance, not to mention various other products.

If you are a Florida homeowner, you know how important it is to have the right amount of coverage for your investment. American Integrity aka AIIG was started in 2006, following up a lack of home-insurance options in Florida after Hurricane Katrina. This company maintains an A rating from Demotech and issues 2.42 per cent of home insurance policies in the state.

More recently, the company also offers cyber, golf cart, and flood coverage. So this insurer might just be the perfect fit for you and your family! American Integrity is based out of Tampa Bay, FL and they specialize in home insurance exclusively.  The company sells its policies through independent agents.

St. Johns Homeowners Insurance in Florida

St. Johns Insurance Company, headquartered in Orlando, Florida, is a privately-held company, serving South Carolina and Florida residents. St. Johns states it promises policyholders a “high level of attentive, personal services, from experienced professionals who understand the issues homeowners face.” St. John’s Insurance was founded in 2003, giving the carrier just under two decades worth of experience in the insurance industry.

St. Johns Insurance Company is owned by St. Johns Holding Company. The company retains a strong presence in Florida and South Carolina while continually expanding its reach. St. Johns sells homeowners, landlord condo policies, and personal umbrella insurance and writes 2.84 per cent of Florida’s home insurance policies.

St. John’s distributes its coverage exclusively through a network of hundreds of independent insurance agents. They’re highly esteemed by financial institutions and offer stable access to funds during claims. St. Johns Homeowners Insurance company in Florida operates under the principle that everyone deserves peace of mind when they are protecting their largest investment, their property.

The carrier’s LinkedIn profile reports St. John’s has fewer than 50 total employees. The company’s commitment to offering quality products and services has made St. Johns one of the most sought-after insurance companies in Florida. St. Johns’ website is a great resource that offers tips about choosing the right coverage and tips for hurricane season.

St. Johns Insurance Company has earned a Financial Stability Rating® of A, Exceptional, from Demotech. St. John’s has also received a very high rating of “A+” from the BBB and is accredited by the organization. They know they’re not just covering homes; they’re protecting the futures and financial security of the families they serve.

High ratings from the BBB aid an insurance company’s credibility. The company’s mission is to provide high-quality insurance over the long haul.

ProsCons
Highly rated by the BBBLimited Coverage (i.e only available in 2 states)
Several insurance discounts 
Multiple insurance coverages 
Online quote creation 

Coverages

  1. Condo insurance
  2. Dwelling fire insurance
  3. Equipment breakdown
  4. Identity theft insurance
  5. Umbrella insurance
  6. Landlord insurance

Discounts

  1. Monitored alarm discount: For customers whose homes are equipped with burglar alarms, etc.
  2. Multi-policy discount: For customers who have more than one type of policy at St. John’s.
  3. Senior insured discount: For customers who are above 55years.
  4. E-policy discount: For customers who opt to receive their insurance documents electronically.

Universal P&C Homeowners Insurance in Florida

Homeowners can potentially save themselves thousands out of pocket by purchasing a home insurance policy. Universal Property & Casualty Insurance is a Florida-based insurance carrier with moderate customer reviews and rates. Universal Property and Casualty Insurance (UPCIC) provides a range of home insurance coverage and liability products.

Universal P&C started in one of the hardest home insurance markets – Florida. This state is one of the most difficult and expensive to insure. In the last few years, Universal P&C expanded to offer homeowners & other property insurance through independent insurance agents in other states.

Founded in 1997, it now serves 18 states. Universal offers decent home insurance, with a basic coverage policy that even includes ordinance coverage. UPCIC writes a range of personal lines property and casualty products, such as standard homeowners i.e., dwelling and personal property coverage.

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The company is owned by Universal Insurance Holdings, which is publicly traded on the New York Stock Exchange. Since its founding in 1997, it has grown to be Florida’s #1 home insurance carrier by premiums written. In Florida, the company has approximately 9.7 per cent of the homeowners insurance market share.

The company has no 24/7 customer service by phone and has no online quote tool. The company has its headquarters in Fort Lauderdale, FL. UPCIC is A+ rated by the Better Business Bureau. Further, they have an A Financial Stability Rating from Demotech.

ProsCons
Ordinance coverage included in the basic policyMany customer reviews cite delays in resolving claims
Highly rated by the BBB and DemotechNo online quote tool
Multiple insurance coveragesFew discounts
Strong track record of paying claims 
Financial stability as shown by an A rating 

Coverages

  • Dwelling + other structures
  • Personal property
  • Loss of use/Additional living expenses   
  • Personal liability               
  • Medical payments to others       
  • Ordinance or law coverage         

Discounts

  • Protective devices: For a centrally monitored fire or burglar alarm
  • Gated community: For gated community, either manned or with a passkey
  • Wind mitigation              

UPC Homeowners Insurance in Florida

UPC Insurance is a super-regional carrier that has been providing home insurance in Florida since 1999. UPC Insurance, also called United Property and Casualty, provides insurance coverage to homeowners in 12 states, primarily on the Atlantic and Gulf coasts. In 2018, subsidiary Journey Insurance was launched to further their home and commercial property offerings.

UPC specializes in insuring properties located in “catastrophe-exposed areas” that are prone to a large-scale natural disaster. UPC Insurance considers itself a coastal state expert, providing homeowners insurance to vulnerable areas. Based in St. Petersburg, Florida, it has managed to survive a very difficult time in the Florida property insurance market, with other companies closing due to multiple major hurricanes.

UPC’s vision has remained to be the premier provider of property insurance for coastal communities. UPC is one of the fastest-growing Homeowners companies in the country. UPC is currently selling homeowners, condos, flood, landlords, renters, and seasonal products.

United Property & Casualty Insurance Company (UPC) specializes in writing policies to financially protect homeowners from perils that impact coastal areas. Hence, United Property and Casualty may not be well suited for homeowners who live in areas not susceptible to large-scale disasters.

UPC Insurance ratings with Demotech remain an A (exceptional) and the company is publicly traded on NASDAQ. The ultimate vision is to be the premier provider of property insurance in catastrophe exposed areas. UPC and its subsidiary Journey Insurance are designed for those areas vulnerable to hurricanes and flooding.

Since its founding, UPC has grown to nearly $1,5 million in direct premiums written annually, and over 630,000 policies in force. its Florida market share is 3.66 per cent.

ProsCons
Very affordable ratesPoor customer service ratings
BBB accreditation and A+ ratingOnly available in 12 states
Multiple insurance coverages 
Offers Ordinance or law coverage in standard coverage 

Coverages

  • Dwelling
  • Detached structures
  • Personal property
  • Loss of use/additional living expenses (ALE)
  • Personal liability
  • Medical payments to others
  • Other personal property
  • Service line coverage
  • Ordinance or law coverage
  • Commercial residential property insurance
  • Condominium owners insurance
  • Identity theft insurance
  • Landlord/seasonal property insurance
  • Renters insurance
  • Golf cart coverage

Discounts

  • Hip roof
  • Wind and natural disaster certifications
  • Pay premium in full
  • Extra window and door protection
  • Flood policy

Tower Hill Homeowners Insurance in Florida

Tower Hill is a Florida-specific homeowners insurance company that offers very affordable prices. Tower Hill Insurance Group was founded in 1972 in Gainesville, Florida. While the company historically sold policies only in the Sunshine State, it began expanding to other states in 2016.

This company is also known as the Omega Insurance Company and maintains a 5.96 per cent market share of the Florida homeowners insurance market. It has a wider range of insurance products than many other Florida insurers. Over the last nearly 50 years, the company has become one of Florida’s biggest residential property insurance companies.

Tower Hill and its affiliated companies now sell coverage in 17 states. Among home insurance companies that operate in Florida, Tower Hill is a strong option. However, Tower Hill’s home insurance policies are only available in Florida. The company offers three tiers of Homeowners Insurance in Florida — typical, Premier Plus and Spire.

Its affordable rates and good financial standing make it an appealing option for Florida homeowners. Tower Hill is a unique home insurance company because it offers policies for standard dwellings and high-value homes. Tower Hill believes that “your home is your castle,” regardless of the size, age or architecture.

The company has a variety of policies available that may supplement traditional Homeowners Insurance in Florida. Flood insurance, which is typically not a part of most private insurers’ portfolio of insurance products is included in the company policies. The insurance company offers comprehensive coverage, including catastrophic ground cover collapse coverage.

Of particular significance to Florida, homeowners is Tower Hill’s ability to respond to hurricanes. With accreditation and an A+ rating from the Better Business Bureau, Tower Hill home insurance is a solid choice if you live in Florida. Tower Hill can make sure your expensive oceanfront property in Florida is protected with high coverage limits and optional endorsements.

Tower Hill is a solid, affordable choice for homeowners looking for a one-stop-shop for homeowners and flood insurance. The company sells insurance through some 850 independent insurance agencies in the state. However, the company limited online tools make the process of actually buying insurance coverage more challenging.

ProsCons
Good for People who want a one-stop-shop for home and flood insuranceBad for People who want to bundle home and auto insurance
24/7 customer portalOnly available in Florida
BBB accreditation and A+ ratingLimited discounts
Good for Owners of high-value homesNo online quote tool

Coverage

Tower Hill Homeowners Insurance in Florida coverage is fairly basic, especially if your home is of average value. Tower Hill offers all the most common coverages for Florida residents. The basic tier is Tower Hill’s standard home insurance policy. The company also sells flood insurance depending on your home’s flood risk and your budget.

If your home is valued at $750,000 or more, you can qualify for Tower Hill’s high-value home insurance programs. it is essentially an HO-3 home insurance policy with a few unique options that you might not find from other insurance companies. But you must be a resident of Florida in order to purchase any home insurance policy from Tower Hill.

  • Standard insurance coverages which include: Dwelling + other structures, Personal property, Personal liability, Loss of use/additional living expenses and medical payments to others
  • Flood insurance
  • Extended replacement cost coverage
  • Screened enclosure coverage
  • Water backup/sump pump overflow coverage
  • Food spoilage
  •  Ordinance/law coverage
  • High-value home insurance etc.

Discounts

THIG offers fewer discounts than most home insurance providers. Tower Hill doesn’t advertise any Homeowners Insurance in Florida discounts on its website. We recommend contacting an agent to find out what discounts might be available in your area. However, most insurance companies offer some savings opportunities.

Tower Hill Insurance Group offers the following discounts to help lower your monthly premium:

  • Claims-free discount
  • Age of roof discount
  • Pay in full discount
  • New home discount
  • Multi-policy discount
  • Gated community discount
  • Protective devices discount
  • Automatic payments discount
  • New roof discount
  • Anti-theft device discount

Progressive Homeowners Insurance in Florida

Begun in 1937 as an auto insurance company, Progressive has a track record of innovation. Progressive stands out for its superior home insurance rates. Progressive offers standard home insurance policies that include a comprehensive collection of coverages. While Progressive isn’t the cheapest provider, its decent customer service and range of features and discounts make it one for many to consider.

While Progressive does not underwrite Homeowners Insurance in Florida coverage, it does offer it through affiliated third parties. Progressive home insurance policies come from third parties. Customers can still benefit from bundling discounts. You can purchase basic coverage or add on additional coverage for specific needs like expensive jewellery or art.

Affiliates include insurance companies like National General Insurance, Nationwide and American Strategic Insurance Corp (ASI). While largely popular for its auto insurance policies, Progressive also offers affordable homeowners insurance in 48 states. Progressive homeowners insurance policies come with the types of coverage that are typical in homeowners insurance policies.

Progressive homeowners and renters insurance aren’t strong options like its other offerings. However, Progressive is a formidable contender in the Homeowners Insurance in Florida market. Today, Progressive is the 10th largest home insurer in the nation. You can get a quote and purchase a policy online, by phone or from a local agent via an agent portal. The company is headquartered in Mayfield Village, Ohio.

ProsCons
A handy comparison tool can help you find an affordable rate.Doesn’t underwrite its own policies.
Customers can choose which home insurance company to purchase from.Can’t submit claims directly to Progressive
Multi-policy discounts for Progressive customersInconsistent reputation for claims handling
Large network of more than 35,000 agents 
24/7 customer service 

Coverage

When you hop on a Homeowners Insurance in Florida plan through Progressive, you’re actually purchasing a policy through a third-party insurer. The home insurance coverages are pretty standard, with little room for adjustment. Progressive’s Homeowners Insurance in Florida provides protection for your dwelling, personal property and covers loss of use expenses.

You can think of it as a middleman that compares quotes and helps you obtain proper coverage at a good price point. The liability coverage you get with Progressive doesn’t align with others. The quotes can vary depending on where you live. You can, however, customize your homeowners policy with numerous add-ons.

  • Dwelling coverage.
  • Other structures coverage.
  • Personal property coverage.
  • Liability insurance.
  • Additional living expenses coverage.
  • Water-back up coverage
  • Personal injury
  • flood insurance
  • Earthquakes, landslides, sinkholes, and mudslides

Discounts

Searching for ways to lower your Homeowners Insurance in Florida premiums? Progressive has increased the number of discounts it has for its home insurance policies. Since Progressive works with multiple home insurance companies, depending on the insurer Progressive matches you with, you may qualify for other discounts.

You can save on your Homeowners Insurance in Florida policy. You could save on your auto policy if you purchase a homeowners policy through Progressive. Some savings may also be included in the quote based on home features such as security systems. Here are some available home insurance discounts from Progressive:

  • Bundle policies discount.
  • New construction discount
  • New purchase discount
  • Safety and alarms discount
  • Quote in advance discount
  • Electronic documents discount
  • Pay in full discount

Allstate Homeowners Insurance in Florida

Allstate is the second-largest home insurer in the United States. With its competitive rates, wide range of coverage options and robust mobile app, Allstate Homeowners Insurance in Florida is worth considering. Allstate is one of the only providers that provide 24/7 customer service. Founded as an automobile insurance company in 1931, Allstate quickly established itself as an innovator.

Allstate’s residential fire insurance policy, the precursor to today’s homeowners insurance, was introduced in 1954. The company has issued around 113 million policies to 16 million customers throughout the country. Allstate’s popularly known slogan, “You’re in good hands,” has been a staple since its ideation in 1950.

It serves customers in all 50 states and Washington, D.C, offering all types of insurance coverages. Purchasing a comprehensive cheap Homeowners Insurance in Florida policy from Allstate to safeguard it in the event of disasters can help you rest easy at night. It offers a large slate of endorsements you won’t find with many of its competitors.

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The company boasts an excellent reputation for customer service and a wide array of coverages. Allstate has 24/7 departments for sales, billing, claims, and policy questions. If you’re looking for a well-known company that can provide all of your policies, Allstate might be a good fit.

Today, it’s the second-largest homeowners insurance company, with a market share above 8 per cent (in 2019). Allstate also offers affordable insurance products through its other companies, such as Encompass and Esurance. Coverage is available nationwide, and homeowners insurance in Florida quotes are easy to obtain using convenient online tools.

Allstate stands out as one of the best homeowners insurance companies in Florida with its variety of coverage options and affordable rates. Headquartered in Northbrook, Illinois, Allstate has more than 12,000 agents across the entire U.S. And it continues to innovate, offering a wide range of unique technological tools to its customers. It has an A+ (Superior) financial strength rating from AM Best.

ProsCons
Customizable coverage optionsPremiums are costlier than some competitors
Available nationwide 
Top-notch customer service 
Second-largest home insurance company in the country 
Many discounts 
Has endorsements for valuable items 

Coverage

Allstate offers several standard types of homeowners insurance, alongside a range of additional coverage add-ons designed for certain types of homes or unique situations.

  • Dwelling coverage
  • Personal property coverage
  • Liability protection
  • Coverage for belongings when home-sharing
  • Manufactured/mobile home insurance
  • Flood insurance
  • Guest medical protection
  • Personal umbrella insurance

Discounts

To help Florida customers save money on their policy, Allstate offers a number of methods to lower your Homeowners Insurance in Florida premium. Allstate offers more opportunities to save on homeowners insurance premiums than many competitors do. Discounts are a great way to save money. Some will remain for the life of the policy.

Allstate offers a variety of discounts to help reduce the homeowners insurance in florida average costs of your home insurance coverage. The insurer’s multi-policy discount of up to 25% is also much more generous than the maximum savings offered for bundled policies by many other insurers. Allstate offers the following homeowner discounts:

  • Multi-policy discount
  • Responsible payer discount
  • Autopay discount
  • Protective device discount
  • Early signing discount
  • Claim-free discount
  • Welcome & loyalty discount
  • Homebuyer discount

Chubb Homeowners Insurance in Florida

Chubb is a good choice for Florida homeowners with high-value homes. Chubb has been selling insurance policies since 1792. Chubb home insurance policies come standard with high-end features that many other companies charge extra for. This homeowners insurance in Florida is a good fit for Customers who put a premium on claims satisfaction.

Although consumers may pay slightly more than average. Chubb offers consumers a comprehensive portfolio of personal insurance products and various commercial policies for business leaders. Chubb home insurance policies include a wide array of coverages to protect your home and possessions.

For both auto and home insurance, Chubb has an excellent reputation for customer service. It’s also one of the best in the industry in terms of claims satisfaction and offers several best-in-class coverage options rarely seen among other insurers. A few of its policy highlights include extended replacement cost coverage to rebuild your home or a cash settlement as well as several safety-focused discounts.

Chubb homeowners insurance draws in homeowners with some unconventional perks. Chubb is an industry leader operating in over 50 countries with an A++ rating from AM Best. If you have a high-value property that needs a lot of protection, Chubb home insurance might be for you.

Chubb relies on a strong national network of independent insurance agents and brokers. And today Chubb is the largest publicly traded property and casualty insurer in the world. If you are trying to determine the right insurance provider for you, in a storm-heavy state such as Florida, Chubb’s pre-included “extras” could also benefit homeowners.

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Chubb’s Masterpiece policy is surprisingly affordable, and the best option in protecting your home. In the United States, Chubb is the 9th largest home insurance company in the U.S. Chubb offers many homeowners discounts that could garner valuable savings for eligible policyholders.

ProsCons
Fewer consumer complaintsTends to be more expensive than other insurers.
Extended replacement cost coverage comes standard 
A large number of discounts. 

Coverage

Chubb’s standard homeowners policies include dwelling coverage and personal property. You can customize your homeowners policy with numerous add-ons and benefits that most carriers only offer as options, including:

  • Additional living expenses coverage
  • Extended replacement cost coverage
  • Ordinance of law coverage
  • Personal liability coverage, up to $100 million
  • Cash settlement option
  • Tree removal
  • Electronic data restoration
  • Lock replacement
  • Personal property replacement cost coverage
  • Water backup coverage

Discounts

Chubb’s discounts on florida homeowners insurance quotes focus on safety and they vary by state. The insurer offers numerous ways to reduce your premium. Chubb offers quite a few home insurance discounts. Chubb offers lower premiums if your home contains a sprinkler system or is otherwise fire-resistant.

Chubb offers a variety of discounts for homeowners including:

  • Multi policy discounts
  • Superior Protection Discount
  • Additional Fire & Security Discounts
  • New/Renovated Home Discounts
  • Condo, co-op, renters discounts
  • City home discounts

State Farm Homeowners Insurance in Florida

Founded by a retired farmer and insurance salesman named George Jacob “G.J.” Mecherle in 1922 and is headquartered in Bloomington, Illinois. State Farm is among the Cheapest Homeowners Insurance in Florida for its competitive prices, strong customer service and discounts for bundling your home and auto insurance.

State Farm home insurance florida features a wide variety of insurance products at cheaper-than-average rates. State Farm is a household name, insuring more cars and homes than any other insurer in the U.S. This homeowners insurance is a good fit for those seeking policies that are easy to customize and quickly buy online.

State Farm with $66.1 billion in direct premiums written in 2020, is the largest property and casualty insurance company in the U.S. State Farm has local agents in more than 100 communities throughout Florida. In addition to homeowners insurance, State Farm sells car, life, umbrella and other insurance policies with a hefty market share of 9.1% and 19,000 local agents throughout the country.

State Farm is the No. 1 seller of homeowners insurance in the United States. Overall, State Farm home insurance Florida is a good choice for your insurance needs. According to a YouGov survey, roughly 60% of Americans have a positive opinion of the company. State Farm is also a good choice for those who prefer to manage their insurance policies online.

The company that markets itself as your “good neighbour” now offers around 100 products and services. It sells homeowners insurance in all 50 states and Washington, D.C. The company offers a unique fire safety program through its partnership with Ting. Homeowners looking for an in-person insurance experience might appreciate the local expertise State Farm offers.

If you are looking for low rates and a one-stop-shop for all of your insurance needs in Florida, you should consider State Farm. It ranks 33rd on the Fortune 500 list of the largest companies.

ProsCons
A nationwide network of local insurance agentsFew homeowners discounts
User-friendly website. 
Fewer consumer complaints 
Very competitive home insurance rates 
No restrictions on dog breeds 
Easy-to-access educational tools 
Good savings when you bundle home and auto insurance 

Coverage

In general, coverage and premiums can run the gamut based on a number of factors. State Farm offers all the homeowners insurance coverages you’d expect from a national insurer, such as liability for weather-related damage in the home and coverage for personal belongings.

It also has online tools to help homeowners organize and insure their property. You can customize your homeowners policy with numerous add-ons such as:

  • Expanded replacement cost
  • Inflation protection
  • Energy efficiency upgrade
  • Identity theft
  • Scheduled personal property
  • Loss of use
  • Water backup
  • Equipment breakdown

Discounts

There are a number of ways to reduce your florida homeowners insurance quotes with State Farm. You can save money on your home insurance with State Farm discounts. When it comes to homeowners insurance discounts, State Farm offers fewer compared to its competitors. State Farm homeowners discounts vary by state, although most of them are via standard discounts that can be found at any major insurance company.

These are some of the home insurance discounts it offers:

  • Bundling insurance.
  • Home security systems.
  • Roofing discounts
  • Higher deductibles.

Security First Homeowners Insurance in Florida

Security First is a privately-held home insurance company, providing insurance to Florida residents. The company provides most of the policy coverage you’ll need and has useful online tools. Security First Insurance is the cheapest home insurance in Florida and provides homeowners, renters, condo unit owners, and dwelling fire insurance to over 300,000 customers located throughout Florida.

Security First Insurance has been in business for nearly a century and operates with a commitment to providing reliable, customer-focused homeowners insurance to Florida residents. The insurance provider offers all industry-standard coverage and a long list of endorsements.

The company is nationally recognized for developing award-winning innovative technology. it was founded in 2005 by U.S. senator Locke Burt whose family was historically involved in the home insurance business. Security First offers impressively affordable homeowners insurance coverage catered to the Florida market.

Security First gained prominence following up Hurricane Katrina. The company has been assigned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc. The Ormond Beach, Florida-based insurer says that, as a business, it is committed to standing by its policyholders storm after storm.

Security First’s policies are basic and cover the most common residences in Florida. Its website has a useful quote calculator that can get you a price estimate within minutes. Their prices are displayed publically unlike others who require clients to call agents. The location of your home and its proximity to the coast are factors that determine homeowners rates.

ProsCons
Comprehensive coverageOnly available in Florida
A+ BBB ratingNo 24/7 customer service by phone
Online quote toolPoor customer service
Publicly available pricing 
Less common endorsements 
Affordable rates 

Coverage

The Security First homeowners insurance policy offers fairly typical coverage for home insurance. Security First offers supplemental coverages that you can add to your Security First homeowners insurance policy. Security First offers many endorsements, several of them particularly relevant to Florida residents.

Optional add-on coverages include the following:

  • Flood coverage
  • Water backup and sump overflow
  • Increased special limits coverage
  • Personal injury
  • Increased replacement cost on dwelling
  • Equipment breakdown
  • Identity theft
  • Dog liability
  • Golf cart physical damage and liability
  • Screened enclosure/carport coverage
  • Scheduled personal property

Discounts

Security First offers several standard discounts.

  • Policy holder 55+
  • Central fire alarm
  • Roof shape
  • Secured community
  • Central burglar alarm
  • Age of construction
  • Indoor sprinkler system
  • Wind-resistant home features

Cheapest homeowners insurance quotes in florida

The cheapest home insurance in Florida offered rates well under $1,000 per year — $519 at Security First and $710 at State Farm. Below is a detailed table showing you how much you can save by purchasing homeowners insurance policies from the above-named companies.

CompanyInsurance CostAv. Cost – In. CostSavings
Security First$519$1,727 – $519$1208
State Farm$710$1,727 – $710$1017
Chubb$1,272$1,727 – $1,272$455
Allstate$1,278$1,727 – $1,278$449
Progressive (ASI)$1,299$1,727 – $1,299$428
Tower Hill$1,358$1,727 – $1,358$369
UPC$1,359$1,727 – $1,359$368
Universal$1,487$1,727 – $1,487$240
St. John’s$1,553$1,727 – $1,553$174
American Integrity$1,608$1,727 – $1,608$119

That’s all for “Cheap Homeowners Insurance in Florida – Save $1208 Annually with These Companies”

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