Best & Cheapest Homeowners Insurance in Fort Lauderdale, FL May, 2024
Homeowners in Fort Lauderdale can benefit from the most affordable homeowners insurance rates with Nationwide, offering an average annual quote of $1,528.
After conducting a thorough review of home insurance providers in Fort Lauderdale, FL, Nationwide emerges as the most affordable choice, offering average yearly rates of $1,528. However, the best insurer for you may vary based on your specific circumstances.
For instance, if you have a lower credit score, Allstate provides the most economical option, with an average annual premium of $2,056. On the other hand, if you own an older home, State Farm is a top choice with competitive rates of $2,071 per year for comprehensive coverage.
If you have a newly built home, Universal North America provides the most cost-effective solution at $1,072 per year. For individuals with a history of claims, State Farm offers an affordable option at $2,334per year.
For those with valuable personal property, Travelers is a great choice, offering extensive coverage at a reasonable rate of $1,746 per year.
Our detailed analysis at Insuranceopedia aims to help you find the perfect fit for your home insurance needs. We compare customer ratings, analyze personal experiences, and present comparison charts to provide you with all the information you need to make an informed decision.
How much is homeowners insurance in Fort Lauderdale, FL?
Nationwide provides the most affordable rate for homeowners insurance in Fort Lauderdale, with an annual cost of $1,528.
As indicated below, rates in Fort Lauderdale are higher than the national average and the average for the state of Florida.
| Area | Average Monthly Rate |
| National | $1,820 |
| Florida | $2,348 |
| Fort Lauderdale | $2,572 |
Insurance rates are not consistent and can vary widely based on several factors.
Cheapest Homeowners Insurance in Fort Lauderdale, FL
Our Methodology
To find the cheapest home insurance rates in Fort Lauderdale, we analyzed findings from numerous home insurance review sites, some of which analyzed rates from public filings obtained by Quadrant Information Services. We’ve used an average of those rates for this review, but each company’s rates change frequently and will vary based on your situation. Also factored into the overall rating is my subjective opinion based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest homeowners insurance in Fort Lauderdale, FL
Nationwide stands out as the most affordable choice for homeowners insurance in Fort Lauderdale, FL, with an average yearly rate of $1,528.
| Company | Annual Premium |
| Nationwide | $1,528 |
| Travelers | $1,626 |
| Allstate | $2,045 |
| Chubb | $3,571 |
| State Farm | $4,709 |
The cost of your insurance policy is influenced by various factors, including your location, the value of your home, and your claims history. Nationwide offers a good balance of affordability and comprehensive coverage.
Cheapest Homeowners Insurance If You Have Poor Credit
For individuals with a poor credit score, Allstate provides the most affordable solution, offering an average annual rate of $2,056.
| Insurance Company | Average Annual Premium |
| Allstate | $2,056 |
| Universal North America | $2,509 |
| Chubb | $3,557 |
| Heritage | $4,586 |
| State Farm | $4,742 |
Your credit score can significantly impact your insurance rates as insurers use it to assess risk. Allstate acknowledges the importance of providing fair coverage for everyone, irrespective of their credit history.
Cheapest Homeowners Insurance In Fort Lauderdale If You Have an Older Home
Homeowners with older homes can benefit from the most affordable rates with State Farm, averaging $2,071 per year.
| Insurance Company | Average Annual Premium |
| State Farm | $2,071 |
| Universal North America | $2,545 |
| Florida Peninsula | $2,630 |
| Allstate | $2,743 |
Older homes can present unique risks and maintenance challenges, potentially resulting in higher insurance costs. State Farm addresses these concerns by providing competitive rates and comprehensive coverage tailored to the specific needs of older homes.
Cheapest Homeowners Insurance for Newly Constructed Homes
For those who own newly constructed homes, Universal North America offers an affordable solution with an average annual rate of $1,072.
| Insurance Company | Average Annual Premium |
| Universal North America | $1,072 |
| Chubb | $1,339 |
| Allstate | $1,433 |
| State Farm | $1,753 |
| Heritage | $3,174 |
Newly constructed homes often have different coverage needs compared to older homes, and Universal North America specializes in providing affordable policies tailored to these specific requirements.
Cheapest Home Insurance In Fort Lauderdale for a History of Claims
State Farm provides an affordable solution for homeowners with a history of claims, offering an average annual rate of $2,334.
| Insurance Company | Average Annual Premium |
| State Farm | $2,334 |
| Universal North America | $2,562 |
| Chubb | $3,105 |
| Homeowners Choice | $3,124 |
| Heritage | $4,247 |
A history of claims can result in higher premiums, as it may suggest increased risk for insurers. However, State Farm strives to offer reasonable rates for individuals with past claims, providing a second chance for affordable coverage.
Cheapest Home Insurance Rates for Lots of Personal Property
Travelers offers affordable coverage for individuals with valuable personal property, providing competitive rates with an average annual premium of $1,746.
| Insurance Company | Average Annual Premium |
| Travelers | $1,746 |
| State Farm | $2,286 |
| Allstate | $2,359 |
| Chubb | $2,662 |
| Citizens | $8,238 |
Travelers provides comprehensive coverage at reasonable rates, ensuring that all your belongings are adequately protected, even if you have a wealth of personal property.
Best Homeowners Insurance Companies in Fort Lauderdale, FL
Choosing the right homeowners insurance is more than just a necessity; it’s a strategic decision. With its rich history, Fort Lauderdale boasts homes as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates becomes crucial.
To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Fort Lauderdale, FL. These companies have been evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below to find the perfect fit for your home insurance needs.
| Company | Annual Premium |
| Nationwide | $1,528 |
| Universal | $1,576 |
| Travelers | $1,626 |
| Allstate | $2,045 |
| Universal North America | $2,507 |
| Chubb | $3,571 |
| Heritage | $4,599 |
| State Farm | $4,709 |
| Citizens | $7,265 |
Average Home Insurance Rates in Fort Lauderdale, FL by Deductible Amount
The deductible you choose for your homeowners insurance policy can significantly affect the premium rates in Fort Lauderdale, FL. Here’s a breakdown of how average home insurance rates change based on different deductible amounts:
| Deductible | Annual Rate |
| $500 | $2,911 |
| $1,000 | $2,234 |
| $2,000 | $1,872 |
Average Home Insurance Rates in Fort Lauderdale, FL By Coverage Amount
The dwelling coverage, representing the maximum amount your insurance provider will pay to rebuild or repair your home in case of damage or destruction, is a crucial factor influencing your premium.
Below is a comparison chart illustrating the average annual homeowners insurance premiums for different dwelling coverage amounts:
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $1,459 |
| $250,000 | $1,634 |
| $300,000 | $2,007 |
| $350,000 | $2,268 |
| $400,000 | $2,590 |
Average Home Insurance Rates in Fort Lauderdale, FL by Company
Here’s a table comparing the annual premiums from some of the top providers in Fort Lauderdale:
| Company | Annual Premium |
| Nationwide | $1,528 |
| Universal | $1,576 |
| Travelers | $1,626 |
| Allstate | $2,045 |
| Universal North America | $2,507 |
| Chubb | $3,571 |
| Heritage | $4,599 |
| State Farm | $4,709 |
| Citizens | $7,265 |
How Much is Homeowners Insurance for Other Cities in Florida?
Here is a detailed comparison chart showcasing the cheapest companies and their annual premiums across various cities in Florida:
| City | Annual Premium |
| Miami | $3,944 |
| Gainesville | $1,399 |
| Lakeland | $1,592 |
| Tallahassee | $1,286 |
Getting Online Homeowners Insurance Quotes in Florida
Websites like Insuranceopedia make it easy to find the best coverage for your specific needs. You can obtain quick online quotes from top-rated insurers, facilitating easy comparison of rates.
Simply input your information, and Insuranceopedia will provide you with a variety of options customized to your needs. This simplifies the process of choosing a policy that offers excellent value, balancing cost with comprehensive coverage.
FAQs
Who has the cheapest home insurance in Fort Lauderdale, FL?
Nationwide provides the most affordable homeowners insurance in Fort Lauderdale, Florida, with an annual premium of $1,528.
What is the average cost of home insurance in Fort Lauderdale, FL?
The average cost for homeowners insurance in Fort Lauderdale, Florida, is approximately $2,572 per year.
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