The 25 Largest Homeowners Insurance Companies in Florida | Alliance Insurance (2024)

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Who has the cheapest homeowners insurance in Florida? ›

Cheapest home insurance companies in Florida

Tower Hill is the cheapest homeowners insurance company in Florida, offering an average rate of $2,443 a year. Not only is Tower Hill's average rate the lowest in the state by far, but it's more than 40% cheaper than the state's average price for home insurance.

State Farm is the best car insurance company in Florida for ease of use. It has an easy-to-use website and simple claims filing process compared with other top-rated companies in Florida. State Farm also has high app store ratings for iOS and Android devices.

Last fall Progressive confirmed to ABC Action News that they will not renew policies in Florida beginning in May of 2024 to "rebalance our exposure" they told us in a statement.

Gov. Ron DeSantis' office confirmed that State Farm Insurance plans to continue its presence in the Florida insurance marketplace after Farmers Insurance declared plans to leave the state. Gov.

How much does homeowners insurance cost in Florida? The average cost of homeowners insurance in Florida is $2,625 per year, or about $219 per month. That's 37% more than the national average of $1,915. In most U.S. states, including Florida, many insurers use your credit-based insurance score to help set rates.

State Farm offers the cheapest car insurance rates in Florida. On average, you can expect the rates from the company to be $650 per year for minimum liability policies and $1,813 per year for full coverage plans.

A combination of inflation, natural disasters, and lower competition is to blame. Homeowners can shop around with different insurers and consider raising their deductibles to save money on policy costs.

USAA homeowners' insurance tends to be more expensive due to its commitment to high standards for comprehensive coverage, superior customer service, and consideration of location-specific risk factors.

The Auto Club Insurance Company (AAA) of Florida has announced that it will not renew a “very small percentage” of auto and home insurance package policies in Florida. But, the insurer stressed, it is not leaving the state — it's just trying to manage its risk. In fact, it plans on growing its business in the state.

More severe weather, widespread fraud, and inflationary pressures on home rebuilding costs are just some of the reasons for Florida's insurance crisis.

What area of Florida has the lowest home insurance rates? ›

– The Florida Office of Insurance Regulation issued its first Property Insurance Stability Report for 2023 last week. On a county-by-county basis, it found that Sumter County has the lowest average cost for single-family home property insurance at $1,533, while Monroe County had the highest average cost at $7,162.

State Farm is the largest provider of homeowners insurance in the U.S., with $19.7 billion in direct premiums written in 2020.

Florida's average annual home insurance premium is $8,770, much more than the national average, with many factors affecting costs. On This Page: Cost by Coverage Amount.

Gov. Ron DeSantis' office confirmed that State Farm Insurance plans to continue its presence in the Florida insurance marketplace after Farmers Insurance declared plans to leave the state. Gov.