What “homeowners insurance cost” means in Florida
Homeowners insurance covers damage to your home (structure), your belongings, liability (if someone gets injured), and risks like fire, wind damage, hail, etc. Flood insurance is not included in standard homeowners insurance in Florida — it’s a separate policy.
When we talk about “average cost,” we mean for a typical single‑family home in Florida, with dwelling coverage (the cost to rebuild), plus other standard coverages (wind, liability, etc.), but without flood insurance.
What the numbers look like in 2025
- Across Florida, the average annual homeowners policy premium is roughly $8,770. MoneyGeek.com
- Prices vary a lot depending on location, amount of coverage, age & condition of the roof, wind risk, and more. For example: Miami‑Dade and other coastal counties often see premiums over $7,000 per year for a dwelling coverage of $300,000. Inland areas can be much lower. Florida Realty Marketplace
- One report shows homeowners’ premiums are among the highest in the nation — in some cases nearly five times the national average for comparable coverage. CF Public
What’s changed over the last year in Florida
Here are some important recent developments:
- Regulatory reforms and rate filings: Since early 2024, 29 homeowner insurers have filed for rate decreases, and 44 have asked for no change or 0% increases. FLOIR
- Large approved increases: For example, Trusted Resource Underwriters was approved for a 31.5% rate increase. Insurance Journal
- Some rate decreases under review: Florida Peninsula has requested its biggest rate cuts ever: about 8.4% for homeowner policies. Done if approved. Florida Realtors
- Citizens policy changes: The state insurer Citizens saw its requested increases scaled back. Some policyholders (especially in South Florida) are seeing rate decreases from ~4.5%‑6.3%. Barron’s
- Tort reform and other legislative changes have helped slow the rise in legal costs associated with homeowner claims, reducing one major driver of premium increases. https://www.wjhg.com+1
Why Florida homeowners often pay more
Several key factors push Florida homeowner insurance premiums up:
- Weather risk: Hurricanes, tropical storms, high winds, hail, flooding (for flood insurance), storm surge. Coastal locations pay more.
- Wind vs flood: Homes near coastlines have higher exposure to hurricanes and wind damage. Floods may require separate premiums.
- Property values & reconstruction costs: Materials, labor, permitting costs have increased. Rebuilding after a storm is expensive.
- Roof age and condition: Older or poorly maintained roofs cost more in premiums. Homes with new roofs or wind‑mitigation features get discounts.
- Litigation costs: Legal claims can increase cost of insurance; reforms intended to curb unnecessary litigation are helping.
- Insurer financial health & market competition: Insurers needing to cover large claims or reinsurance costs pass those costs on. More companies entering the market can help, but exits or insolvencies hurt.
Flood insurance: what to know
- Standard homeowners insurance does not cover flood damage. In areas prone to flooding (coastal or even inland flood zones), homeowners need separate flood insurance (often via NFIP or private flood insurers).
- Flood risk zones (as determined by FEMA maps) strongly affect flood insurance cost. Higher risk (e.g. “special flood hazard area”) = higher premiums.
- Some of the same mitigations (e.g. raising the building, good drainage, flood vents) can help lower flood policy costs.
When might premiums go down?
Based on recent signs:
- Some insurers are already seeking rate decreases. If approved, that could give relief. Florida Realtors
- Regulation is limiting how much insurers can raise rates. Oversight of rate filings is getting more active.
- Home hardening grants and mitigation programs (e.g. for wind, roof upgrades) can help homeowners reduce premium by making their homes more resistant.
- More competition (new insurers entering the market) helps reduce upward pressure. FLOIR
What you can do as a homeowner to manage cost
Here’s a checklist of actions to reduce your homeowner insurance costs:
- Replace or repair roof early; use impact‑resistant materials.
- Install wind mitigation features: shutters, reinforced doors/windows.
- Increase deductible (if affordable) to lower premium.
- Shop around: compare quotes from multiple insurers.
- Bundle home & auto insurance for discounts.
- Stay up to date with local codes and ensure your home meets them.
- Maintain home condition: good gutters, flashing, water protection, no deferred maintenance.
- In flood zones: get flood insurance, elevate, improve drainage.
What changed in the past year
| Change | Effect on Premiums / Market |
|---|---|
| Tort reform and legal reforms | Slower growth in premiums tied to litigation costs. |
| Some insurers applying for rate decreases (or flattened increases) | Potential for premium relief in certain counties. |
| Citizens insurer’s rate changes, especially in South Florida | Some policyholders saw decreases of ~4‑6%. |
| Increased competition | More insurers entering market → more options. |
Final thoughts
Homeowners insurance in Florida is expensive compared to many other states, especially in coastal or high‑risk areas. But recent regulatory actions, market competition, and mitigation efforts offer some relief. The average cost remains high, but there’s reason for cautious optimism.
If you want a customized estimate (for your county, your home’s age, roof type, flood risk, etc.), reach out to a GreatFlorida Insurance Agent to see what options are available near you.
Florida Compliance Note
Insurance rates vary by county, risk level, property features, and insurer. For exact coverage terms, refer to policy documents and filings approved by the Florida Office of Insurance Regulation (OIR). GreatFlorida Insurance is not responsible for variations in your specific premium. For official guidance, see www.floir.com.
