Best Homeowners Insurance in Florida

Florida's population is on track to reach 22 million, but more than 75 percent of all property claim cases are filed in Florida. Florida homeowners struggle with insurance issues more than homeowners in any other state. It's crucial to look beyond quotations at other variables like customer service and financial stability while looking for the best homeowners insurance in Florida to secure your house.

Due to the state's Assignment of Benefits (AOB) law, Florida home insurance companies frequently find themselves in a losing battle when they go to court to contest an insurance claim. AOB enables a homeowner to work with a contractor on their claim rather than the insurer. The contractor can then consult with legal counsel, frequently before speaking with the insurance provider.

Although those who prefer sunny weather may find Florida to be enticing, living in the Sunshine State is not without its risks. In Florida, the average cost of homeowner's insurance is $2,122, and that cost is rising.

The two top-rated Florida house insurance providers are State Farm and Tower Hill. In Florida, Tower Hill boasts the most affordable homeowner's insurance premiums, which run an average of $1,242 a year. That is $629 less than State Farm, the second-cheapest company, and less than half the state average. When it comes to finding the best homeowners insurance in Florida, residents still have choices. Here are some businesses to take into account.

1. State Farm

For the majority of homeowners, State Farm is the best homeowners insurance in Florida. State Farm is 16% less expensive than the typical Florida home insurance provider, charging only $1,871 more year. State Farm offers earthquake, sewer backup, and flood insurance alternatives for homeowners.

State Farm also has a solid financial standing, which may be crucial in the event of a major natural disaster like a hurricane. Due to Florida's heightened danger of tropical storms, among other concerns, several house insurance firms have discontinued issuing policies to Florida homeowners, however this is typically less likely with larger national businesses like State Farm.

2. Tower Hill

Tower Hill offers the least average rate of $1,242 per year for homeowners searching for the best homeowners insurance in Florida. Compared to the $2,220 state average rate, this is 44% less. Tower Hill provides several flood insurance options, as well as unique coverages for homes with higher values. After a tropical storm, coverage add-ons including covering for equipment breakdown and debris removal are useful. Tower Hill receives much fewer grievances than the norm.

However, since Tower Hill doesn't provide online quotations, you'll need to call an agent to obtain home insurance coverage. Additionally, while Tower Hill does offer house, flood, and even boat insurance, you cannot combine them with auto insurance.

3. Florida Peninsula

Florida Peninsula Insurance specializes in insuring beachfront homes and offers special advantages. However, Florida Peninsula is only average in terms of cost and has a higher than average rate of customer complaints, with an average yearly house insurance rate of $2,437. For residences close to the beach, Florida Peninsula provides strong insurance policies that cover water backup, a frequent aftereffect of large storms.

Additionally, Florida Peninsula provides private flood insurance with up to $2 million in home coverage. The National Flood Insurance Program (NFIP), which is government-sponsored flood insurance, has a $250,000 flood coverage cap, therefore Florida Peninsula's high limits ought to be adequate for all except the most costly residences in Florida.

4. Nationwide

Nationwide is regarded by many as the best homeowners insurance in Florida due to its reasonable rates and good rating. Nationwide has numerous options for customizing your policy. You might be able to add protection against things like identity theft, high-value objects, and clogged sewers and drains, for instance.

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