Best Homeowners Insurance In Boca Raton, FL For April, 2024

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Updated: 04 January 2024
Written by
Bob Phillips
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Owning a home in The Sunshine State means you have quite a few weather challenges during the year, like brutal heat and humidity, intense summer thunderstorms, and the occasional hard freeze during the winter months of January and February.

If you live along the Gulf or Atlantic Coast, you also face the reality of hurricanes between May and October. This includes homeowners in one of Florida’s most beautiful Atlantic Coast cities: Boca Raton.

Homeowners in Boca Raton face the specter of damaging winds and floods when severe summer storms, named tropical storms, or hurricanes, hit. Unfortunately, they see their share of rate increases because of the heavy losses insurance companies suffer from these weather events.

This constantly leaves homeowners searching for the best home insurance companies in Boca Raton. If you’re looking for a solution to the problem of finding the best property insurance carrier, you’ve come to the right place.

I lived in Florida for almost twenty years and know the challenges of finding the right company to protect your home and belongings from catastrophic loss. Based on my experience and research, Nationwide wins the award for best overall home insurance company.

But read about the other home insurance companies in Boca Raton that we review, and you be the judge.

Best Home Insurance Companies In Boca Raton, Florida 2024

Compare The Best Home Insurance Companies In Boca Raton, FL

Overall Rating A.M. Best Rating (A++ Best) Customer Satisfaction Rating (1000 Best) Online Experience Rating (10.0 Best) Best Suited For Get A Quote
Citizens
4.7

B++

Not Rated

6/10

Florida Based Insurer

Instant Quote
Chubb
4.7

A++

809

7/10

High-Value Homes

Instant Quote
USAA
4.9

A++

881

8/10

Military Families

Instant Quote
Allstate
4.8

A+

816

9/10

People Looking For Discounts

Instant Quote
State Farm
4.8

A++

829

9/10

Agent Presence

Instant Quote
Tower Hill
4.6

B

Not Rated

7/10

Cheap Premiums

Instant Quote
Nationwide
4.9

A+

815

8/10

Best Overall

Instant Quote
Progressive Insurance
4.8

A+

874

8/10

Customer Satisfaction

Instant Quote
Scroll to see comparisons

Our Methodology

The ratings for the best home insurance companies in Boca Raton were based on empirical data from rating services A.M. Best (financial strength) and J.D. Power (customer satisfaction). Also considered were subjective opinions from many different consumer sites and the author’s personal experience.

36

Quotes Analyzed

15+

Years Of Industry Experience

14

Brands Reviewed

25+

Research Hours

Home insurance company reviews


Best Overall

Overall Rating
4.9

Key Statistics

9/10 Affordability
10/10 Customer Reviews
9/10 Claims
10/10 Coverage Level

Why We Like Them

Nationwide scores best overall because it has an A+ (Superior) rating from AM Best for financial strength, scores very high in customer satisfaction rating across the internet, has a strong agent presence in South Florida and has very competitive rates. Nationwide is solid all the way around.

Nationwide’s standard home insurance policy includes some coverages many other carriers don’t offer, like reimbursement for credit card fraud and ordinance or law coverage if you must rebuild and meet more stringent codes.

You can customize your policy with add-ons like Better Roof Replacement, which will pay for upgraded roofing materials if they must be replaced following a qualified event.

Another option, Brand New Belongings provides replacement cost coverage for your personal belongings. You will be reimbursed for their depreciated value if your items are damaged or destroyed. You can then purchase replacements, send the receipts to Nationwide, and be reimbursed for the cost difference.

You can purchase home insurance from a local Nationwide agent, over the phone, or online. Filing and tracking claims, paying bills, and making policy changes can all be done on the Nationwide website or mobile app.

Nationwide’s average cost for home insurance in Boca Raton: $209/month

Benefits & Drawbacks

Benefits
  • Some of the cheapest premiums in Boca Raton
  • Optional coverages include upgraded roofing for rebuilds, replacement cost protection for belongings
  • Their standard policy includes credit card protection
Drawbacks
  • Optional contents replacement cost coverage requires reimbursement

Best For Military Families

Overall Rating
4.9

Key Statistics

9/10 Affordability
10/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

USAA was a strong contender for Best Overall but came in a close second because it is only available to military members and their families. Other than that, USAA is also very solid overall.

USAA was founded in 1922 by 25 Army officers who wanted to self-insure their cars. Today, USAA offers an array of insurance and financial products for members of the U.S. armed forces and Reserve, along with veterans and their families.

Based in San Antonio, USAA operates a handful of satellite offices around the United States and in London, Frankfurt, and Luxembourg.

USAA’s standard home insurance policy includes replacement cost coverage for personal belongings and coverage for active-duty and deployed service members’ uniforms. Optional insurance, such as earthquake and home-sharing coverages, may also be available.

Eligible members can purchase USAA insurance products online with an active membership ID over the phone or through a local branch.

USAA has an automated agent chatbot on its website to help you access your online account, where you can pay your bill, make policy changes, and manage claims. USAA has an A++ rating from AM Best, the highest financial strength rating available for insurance companies.

Average premium for USAA home insurance in Boca Raton: $140/month

Benefits & Drawbacks

Benefits
  • Contents replacement cost coverage is standard
  • Active duty and deployed service member uniforms and equipment coverage included
Drawbacks
  • No in-person locations in Boca Raton

Best for Agent Presence

Overall Rating
4.8

Key Statistics

9/10 Affordability
7/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

State Farm was our second runner-up based on its solid agent presence in Boca Raton and South Florida. We see this as very important because of not only the availability of a large number of State Farm agents in the aftermath of a hurricane or other severe storm, but also because of the many claims adjusters and claims offices State Farm has in Boca Raton.

State Farm offers a standard homeowners policy and allows policyholders to customize with additional coverages, such as ordinance and law, as well as identity theft protection and insurance for valuables like jewelry.

State Farm has the highest available AM Best financial strength rating, an A++.

State Farm offers optional replacement cost coverage for your home, other structures, and personal property, which replaces damaged items at today’s market value and does not factor in depreciation. Without this endorsement, replacement is calculated on an actual cash value basis.

You can begin the quote process with State Farm online, but you will have to work with a local agent to purchase a policy. Policyholders can use the State Farm website or app to file claims, manage their accounts, and enroll in paperless billing. The site also has a robust resource library to help you learn more about how insurance works.

Average premium for State Farm home insurance in Boca Raton: $144/month

Benefits & Drawbacks

Benefits
  • Very competitive premiums
  • Earns highest financial strength rating available
  • Has the highest amount of local agents in South Florida
Drawbacks
  • Policies not available through independent agents

Cheapest Coverage

Overall Rating
4.6

Key Statistics

10/10 Affordability
6/10 Customer Reviews
7/10 Claims
8/10 Coverage Level

Why We Like Them

Tower Hill had the cheapest rates in Florida. It should be noted, however, that the company does not have a JD Power score for customer satisfaction and has a B++ rating from AM Best. Both of these factors are likely attributable to the fact that Tower Hill Insurance is best known as a Florida homeowners insurance company, and it only offers coverage in 16 additional states.

Tower Hill home insurance allows homeowners to build their own home insurance plan. In addition to standard coverage types like dwelling and personal property, the Typical and Prime Plus policies provide options for endorsements, like extended replacement cost,  water backup coverage, and personal injury coverage.

Tower Hill also offers unique add-on coverage options that might be difficult to find with other carriers. These include landscaping coverage, food spoilage, trampoline liability, lock replacement, and more.

In addition, the company’s highest-tier Spire package includes many optional coverages built into the policy.

Average Premium for Tower Hill home insurance in Boca Raton: $121/month

Benefits & Drawbacks

Benefits
  • Cheapest rates in Boca Raton and Florida
  • Has specialized policy packages for high-value homes
  • It has a long list of coverage options to personalize home insurance coverage for every need
Drawbacks
  • AM Best downgraded its financial strength rating in 2022
  • Higher than average number of customer complaints with the National Association of Insurance Commissioners (NAIC)
  • No mobile app and limited policy information is available on the website

Best For High-Value Homes

Overall Rating
4.7

Key Statistics

7/10 Affordability
8/10 Customer Reviews
9/10 Claims
10/10 Coverage Level

Why We Like Them

Chubb is an excellent option for homeowners who have high-value assets to protect because of the many extras they offer. However, budget-conscious homeowners in Boca Raton will find their rates higher than average.

A high-value home has unique considerations when it comes to home insurance. With Chubb, you can access a variety of policy add-ons, especially extended replacement cost coverage, to help rebuild your home after a covered accident.

An extra perk is Chubb’s risk consulting program, in which a Chubb consultant can come into your home to survey any potential fire or security concerns before an accident occurs.

The Chubb Masterpiece insurance policy covers many things that are important to wealthy clientele, including the restoration of electronic data destroyed by a computer virus and property management services.

Chubb claims agents have the authority to pay a claim immediately but cannot deny a claim without a manager’s approval because they want to make filing a claim as painless as possible.

Average premium for Chubb home insurance in Boca Raton: $317/month

Benefits & Drawbacks

Benefits
  • Offers home assessments for every client to make sure they have the exact coverages they need in case of emergency
  • Masterpiece-level customers are allowed to choose their contractors and artisans to make repairs after a claim
  • Offers a cash settlement option for people who don’t want to rebuild their property after a total loss
Drawbacks
  • Policies tend to be much more expensive than most competitors because they’re designed for high-value properties
  • No online quotes available – agent only

Best For Discounts

Overall Rating
4.8

Key Statistics

8/10 Affordability
7/10 Customer Reviews
8/10 Claims
10/10 Coverage Level

Why We Like Them

Allstate has a total of 11 homeowners insurance discounts, seven of which are considered by home insurance analysts to be uncommon offerings. This is significantly higher than the industry average of seven discounts.

Allstate’s discounts include:

  • Claims forgiveness: additional coverage which keeps your rate from increasing after you file a claim
  • Claims-free: customers can get 5% back on renewal as long as they remain claims-free every year
  • Deductible reward: $100 off deductible upon signing up
  • Bundle: up to 25% for bundling home and car insurance
  • Automatic payment: saves up to 5%
  • Loyalty: up to 10% for renewing with Allstate
  • New Homebuyer: discount for recent homebuyers
  • New home: discount for insuring a newly constructed home
  • Responsible payment: additional discount for having a good payment history
  • Early payment: up to 10% for buying a new policy at least seven days before your old policy expires
  • Protective device: discount for installing theft and fire protection

Allstate homeowners insurance provides dwelling and personal property coverage, liability protection, guest medical protection, and other optional types of coverage. In addition to these standard coverages, Allstate offers homeowners a variety of optional coverages.

Allstate offers nine optional coverage types for homeowners insurance. Aside from the commonly offered ones like ID theft and scheduled personal property, Allstate offers unique coverage for homeowners with a yard and garden, increasing the coverage limits for the cost of landscaping and riding lawn mowers.

Benefits & Drawbacks

Benefits
  • Offers a large number of discounts
  • Many local agents and claims adjusters in South Florida
  • Strong financial stability
Drawbacks
  • Receives more complaints than the national average

Best For Customer Satisfaction

Overall Rating
4.8

Key Statistics

8/10 Affordability
10/10 Customer Reviews
8/10 Claims
9/10 Coverage Level

Why We Like Them

Progressive came in with the second highest JD Power customer satisfaction score of all companies we reviewed except USAA. We did not award USAA the Best for Customer Satisfaction award because it only sells home insurance policies to military members and their families.

Progressive home insurance policies come with the types of coverage that are typical in homeowners insurance policies:

Dwelling coverage pays to repair or replace your home if it is damaged by a problem covered by your policy, such as a fire or tornado.

Other structures coverage pays to repair or replace structures not attached to your home, such as a fence or shed.

Personal property coverage pays to repair or replace your belongings, like your clothes, electronics, and furniture.

Liability insurance covers property damage and injuries to others, such as someone hurt on your property. It also pays for a legal defense if you are sued because of an accident.

Additional living expenses coverage includes hotel bills, meals, and pet boarding fees if you cannot live in your home because of a problem covered by your policy, like a tornado.

Progressive’s filings with the Florida Department of Insurance indicate that homeowners with these dog breeds may be ineligible for coverage: Akitas, American bulldogs, chow chows, Dobermans, Mastiffs, pit bulls, Rottweilers, Staffordshire terriers, wolf hybrids, any mix or variation of these breeds, and any dog with a history of biting.

Average premium for Progressive home insurance in Boca Raton: $219/month

Benefits & Drawbacks

Benefits
  • Very competitive rates
  • Name Your Price tool lets you provide how much you can pay, and Progressive finds coverage to meet your needs
Drawbacks
  • No options for increased dwelling coverage
  • Has a banned dog list in Florida that can make you ineligible for coverage

Best for Florida-Based Insurers

Overall Rating
4.7

Key Statistics

7/10 Affordability
7/10 Customer Reviews
8/10 Claims
8/10 Coverage Level

Why We Like Them

Citizens Property Insurance Corporation plays a crucial role in Florida’s property insurance marketplace by providing property insurance protection to people who are entitled to obtain coverage through the private market but cannot do so.

As one of Florida’s leading insurers of Florida homes and businesses, Citizens strives to ensure its customers receive service comparable to private-market standards.

Citizens was created by the Florida Legislature in August 2002 as a not-for-profit, tax-exempt government entity to provide property insurance to eligible Florida property owners unable to find insurance coverage in the private market.

Policyholder premiums fund Citizens; however, Florida law also requires that Citizens levy assessments on most Florida policyholders if it experiences a deficit in the wake of a particularly devastating storm or series of storms.

Average premium for Citizen’s home insurance in Boca Raton: $180/month

Benefits & Drawbacks

Benefits
  • Based in Tallahassee, Florida
  • Only insures Florida homes
Drawbacks
  • Premiums can increase from a large storm
  • No rating from JD Power for customer service

How To Find The Best Home Insurance Company For You

Shopping for the best home insurance company in Boca Raton takes some time and effort, but it’s worth it. Your South Florida home may be your largest financial asset, so protecting it and all your possessions is essential for your family’s financial well-being.

Follow these steps to find the best policy for you:

  • Do online research on home insurers in Boca Raton and narrow down your list to three carriers you feel comfortable with
  • Decide the coverage limits you need (you may need an agent to assist you with this)
  • Get quotes for the coverage from the three insurers
  • Choose a carrier based on coverage, customer reviews, financial strength, and rates
  • Complete your application for coverage

With some companies, you can do all of this online. For others, you’ll need to speak to an agent.

Largest Home Insurance Companies In Florida

According to Insurance Information Institute’s 2021 data on Florida home insurers, these are the companies with the largest number of policyowners:

  • Universal Insurance Holdings
  • Citizens Property Insurance
  • State Farm
  • Tower Hill Insurance
  • Progressive
  • USAA
  • First Protective Insurance Company
  • HCI Group, Inc.
  • Florida Peninsula Holdings
  • Heritage Insurance

Average Cost Of Home Insurance In Boca Raton, Florida

Based on U.S. Census median home data, the following rates are for a 2,100-square-foot home with $215,300 of dwelling coverage built in 1986.

Insurer Annual Rate
Average $2,617
State Farm $1,895
Farmers $2,135
Allstate $2,399
Nationwide $2,432
Florida Peninsula $5,717

 

How To Get An Online Home Insurance Quote In Boca Raton

To get an online quote for home insurance in Boca Raton, follow these steps:

  • Visit websites of insurers you’re interested in
  • Complete the quote form by answering questions concerning your home and contents’ value, the age of your home, square footage, exterior composition, the zip code of your home, and other requested information
  • Submit information and receive your quotes

There may be other home insurance companies in Boca Raton that interest you, but they don’t give online quotes. In that case, you’ll need to call a licensed agent near you in Boca Raton.

How To Buy Home Insurance In Boca Raton

Follow these steps to buy home insurance in Boca Raton:

  • Choose the amount of coverage you need
  • Get quotes from three reputable companies
  • Submit your application for coverage with the required premium

Factors That Impact The Cost Of Your Home Insurance Policy In Boca Raton

Numerous factors determine how much home insurance in Boca Raton costs, such as:

  • The location of the home (zip code)
  • The home’s age
  • Construction materials (brick, stucco, etc.)
  • Proximity to flood zones
  • Your claim history
  • Coverage amounts
  • Insurer discounts

In Boca Raton, your proximity to the Atlantic Ocean will also be a significant determinant of your rates.

Florida Home Insurance Laws To Know

On January 1, 2023, a new Florida property law named SB 2A took effect.

The new law creates the Florida Optional Reinsurance Assistance Program (FORA), which is a billion-dollar safety net designed to assist insurance companies should Florida experience a hurricane season or catastrophe similar to what it did in 2022.

Also part of the new law is eliminating the Assignment of Benefits, such as signing over checks you received from an insurer to a contractor.

In The News

  • According to WFAA news in Tampa, home insurance industry experts believe Florida’s property insurance rates will likely increase as much as 50% in the summer of 2023.
  • United Property & Casualty (UPC) is Florida’s 10th property insurance company to enter receivership in the last three years.

Information About Boca Raton

Boca Raton, the second largest city in the Palm Beaches, is a community where history and innovation come together. Influenced by the notable architect Addison Mizner, Boca Raton was built around an elegant Mediterranean Revival style that grew into a vibrant city full of rich art and culture.

From live concerts and international art exhibits to outdoor festivals and world-class museums, Boca Raton’s dynamic cultural scene offers unique experiences for all ages. Boca Raton has five miles of beautiful Atlantic coastline and 47 parks with 1,650 acres of recreational space to encourage a healthy and active lifestyle.

Home Insurance Discounts In Boca Raton

When buying home insurance in Boca Raton, ask your agent for any discounts that will lower your premium. Many times you can get multiple discounts on the same policy, such as:

  • Claims-free: customers can get a discount when they renew their policy as long as they remain claims-free every year
  • Bundle: up to a 25% discount with some companies for bundling home and car insurance
  • Automatic payment: discount for having your premium automatically deducted from your checking account
  • New home: discount for insuring a newly constructed home
  • Responsible payment: additional discount for having a good payment history
  • Early payment: a discount for buying a new policy at least seven days before your old policy expires

The Most Affordable Areas For Homeowners Insurance In Boca Raton 

FAQs

Is home insurance more expensive in Florida?

Yes, home insurance in Florida is as much as 50% higher than in many other states. Because of its well-developed coastal areas, home insurance companies in Florida have lost billions of dollars on just a single hurricane. These large losses result in significant rate increases for homeowners in The Sunshine State.

How much per month is a million-dollar home insurance policy in Boca Raton?

Rates will vary by insurer, but two of the lowest are Allstate at $4,310 per year and Nationwide at $5,501 per year.

What is the average monthly cost of home insurance in Florida?

That will depend on the home’s value, but $250,000 in dwelling coverage will average around $2,200 per year.

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