Best & Cheapest Homeowners Insurance in Fort Lauderdale, FL April, 2024

Homeowners in Fort Lauderdale can benefit from the most affordable homeowners insurance rates with Nationwide, offering an average annual quote of $1,528.

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Updated: 19 March 2024
Written by
Bob Phillips
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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

Car insurance rates are not consistent and can vary widely based on several factors. Your driving history is crucial; a clean record will lead to lower premiums compared to one with traffic violations or accidents. The type of vehicle you drive also matters, as high-performance or luxury cars are more expensive to insure.

Where you live plays a role as well, with urban areas facing higher rates due to increased risk. Your age and marital status can also influence your premiums.

Cheapest Homeowners Insurance in Fort Lauderdale, FL

Cheapest Home Insurance, Fort Lauderdale, 2024

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.

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Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

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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