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What are Florida homeowners insurance rates?

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Florida homeowners insurance rates have long been a particularly delicate issue, especially after 2004 when four hurricanes battered the coast of the state. The losses that Floridians suffered as a result of the natural disasters caused the loss of millions of dollars by insurers some of whom pulled out of the area. The companies that stayed raised homeowners insurance premiums significantly. What is more, a piece of legislation was passed early 2009, which allow insurance providers to raise Florida homeowners insurance rates by 10%.

Although there is no standard rate, homeowners insurance rates in Florida are high, compared to the national average which is around $700. There is a considerable difference between prices of home insurance in counties on the coast and counties inland (see Tables 1 and 2), which comes to show how important it is to shop around for insurance.

Homeowners living on the coast are more prone to hurricanes and floods and thus, they are advised to install wind mitigation features in their properties if they wish to lower their premiums.

A house on the coast without any wind mitigation installations can be worth as much as $12,000 in homeowners insurance per year. If the house sports such wind-prevention elements, home insurance rates are around the average for the country.

Factors Determining Florida Homeowners Insurance Rates

  • Location - the closer to the coast, the higher the premium.
  • The policy is divided into two premiums - one for damage caused by hurricane-winds, and one for all perils.
  • Deductible - the higher the deductible, the lower the premium.
  • Home improvements - discounts may be offered, but note that they only apply to the hurricane-wind part of your premium.
  • Age, structure and materials of the house.
  • The homeowners' credit score.
County on coast Rate with no wind mitigation Rate with maximum wind mitigation
Miami-Dade $2,500 - $6,800 $700 - $3,100
Monroe $2,000 - $12,400 $650 - $2,800
Collier $1,600 - $5,600 $700 - $2,200
Broward $2,000 - $6,700 $700 - $2,300
Palm Beach $1,700 - $7,500 $700 - $2,400
Lee $1,500 - $4,000 $725- $1,600

Table 1. Homeowners insurance rates in flood areas.


County Inland Rate with no wind mitigation Rate with maximum wind mitigation
Polk $820-$2,200 $600 - $1,700
Lake $700 - $1,500 $500 - $1,300
Liberty $800 - $1,700 $500 - $1,300
Gilchrist $700 - $1,500 $400 - $1,200
Sumter $700 - $1,300 $500 - $1,100
Okeechobee $950 - $2,000 $500 - $1,300

Table 2. Homeowners insurance rates in inland areas.

(Note: The counties have been selected on a random principle in order to demonstrate the difference in Homeowners insurance rates. Any discounts and surcharges are not included. Current prices may vary.)

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