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May 11, 2021, 5:04 p.m. EDT

Best homeowners insurance in Florida (2021)

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By Home Media

MarketWatch has highlighted these products and services because we think readers will find them useful. This content is independent of the MarketWatch newsroom and we may receive a commission if you buy products through links in this article.

If you’re a Florida resident looking to purchase a home or condo, homeowners insurance is a necessity. In fact, the majority of lenders will require you to take out a policy when you purchase a home. Homeowners insurance, or home insurance, is a way to financially protect yourself in case of a disaster.

In this guide, MarketWatch’s Home Media team will provide information about five top providers to assist you in your search, taking into account coverage, cost and benefits of each company. The prices cited reflect sample quotes received for a single-family home in Jacksonville, Fla.

Keep in mind that these prices are not universal. Your home and location, as well as personal details, will affect your price, so we recommend reaching out to companies for quotes yourself. To get an accurate quote for your own home, you can use this online tool or call 855-948-5219. You’ll be able to see what policies are available based on your exact location. Most home insurance companies in Florida require a Social Security number to receive a quote.

In this article:

  • Best in Florida: Security First

  • Best for bundling: Progressive

  • Best for club members: AAA

  • Best for high value homes: Chubb

  • Best flood protection: Lighthouse Property Insurance

  • Frequently asked questions

Best in Florida: Security First

Security First is available only in Florida, and it is dedicated to providing protection against disasters that are prevalent in the Sunshine State, such as hurricanes and flooding. The company offers a hurricane deductible, which can be 2%, 5% or 10% of your dwelling coverage. In our quote, flood insurance was also offered for an extra $105 a year, which is a useful perk for many Florida residents.

Pros Cons
Company specializes in service to Florida South Florida residents’ prices may be high
Several discounts available $1 million limit for dwelling coverage
Unique additional coverage options

Hurricane coverage: Yes

Discounts: Policy holder 55+, secured community, roof shape, indoor sprinkler system, wind resistant home features, central burglar alarm, age of construction, central fire alarm

Additional coverage: Flood coverage, equipment breakdown, identity theft protection, dog liability, personal injury liability, water backup and sump overflow, increased replacement cost, scheduled personal property, golf cart physical damage and liability, screened enclosure and carport coverage, increased special limits coverage

Best for bundling: Progressive

Progressive is the third-largest insurer in the United States and offers property, auto and personal insurance. Florida residents may enjoy the convenience of Progressive, which allows its customers to bundle multiple types of coverage for a discounted rate. Progressive estimates that customers who bundle home and auto insurance save 12% per year on their premiums. Progressive offers a robust array of discounts, including discounts for using contractors and repair technicians within Progressive’s contractor network.

Pros Cons
Discounts for bundling Customer service can be hard to reach
Trusted name in the insurance industry Uses third-party insurers
Available 24/7

Hurricane coverage: Yes

Discounts: Bundling home and auto, alarm systems, automatic indoor sprinkler systems, quote in advance, annual billing, receive documents by email, new home construction, Progressive contractor network

Additional coverage: Flood, water backup, personal liability

Best for club members: AAA

AAA was founded as an auto club in 1903 and serves Florida residents with a variety of insurance policies. AAA club members are entitled to discounts related to dining, travel and retail purchases, but your AAA membership can also unlock valuable discounts for bundling home and auto insurance. AAA estimates that its members save an average of $775 a year by bundling home and auto. Aside from the savings, home and auto bundles through AAA are convenient. Policyholders pay one premium, one deductible and file just one claim. AAA closed 91% of its Hurricane Irma related claims within two months, which is much higher than the industry average of 67%.

Pros Cons
Excellent customer service Policies and discounts differ with each club location
Discounts for bundling Online quotes require a Social Security number
Expansive umbrella protection
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