The Best & Cheapest Homeowners Insurance in Pensacola, FL for 2024

Nationwide deserves the title of best homeowners insurance company in Pensacola.

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Updated: 04 May 2024
Written by Bob Phillips
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In Pensacola, residents have the task of protecting their homes from damaging winds and floods caused by severe storms, tropical storms, or hurricanes. This often leads to most insurance companies raising rates due to the significant losses caused by these weather events.

To address these risks, Pensacola homeowners are always looking for the best insurance providers. If you’re searching for the perfect homeowner’s insurance carrier, you’re in the right place.

Having lived in the flood zones of Florida for almost twenty years, I understand the challenges of finding a company that can adequately protect your home and belongings from major losses. After thorough research and personal experience, I can confidently recommend Nationwide as the best overall homeowners insurance company.

I encourage you to go through our reviews of other homeowners insurance companies in Pensacola and make your own judgment.

Best Homeowners Insurance Companies In Pensacola, FL 2024

Best Home Insurance, Pensacola, 2024

Compare The Best Home Insurance In Pensacola, FL

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

809

A++

4.6

High-Value Homes

7/10

Instant Quote
USAA

881

A++

4.8

Military Families

8/10

Get A Quote
Citizens

Not Rated

B++

4.6

Florida Based Insurer

6/10

Instant Quote
Allstate

816

A+

4.7

People Looking For Discounts

9/10

Instant Quote
Tower Hill

Not Rated

B

4.5

Cheap Premiums

7/10

Instant Quote
State Farm

829

A++

4.8

Agent Presence

9/10

Instant Quote
Nationwide

815

A+

4.9

Best Overall

8/10

Instant Quote
Progressive Insurance

874

A+

4.7

Customer Satisfaction

8/10

Instant Quote
Scroll to see comparisons

Our Methodology

We evaluated the best home insurance companies in Pensacola using a thorough process. This involved analyzing data from reputable rating services like A.M. Best (financial strength) and J.D. Power (customer satisfaction). We also considered opinions from various consumer sites and drew from the author's personal experience. This comprehensive approach helped us assess the insurance providers effectively.

72

Quotes Analyzed

15+

Years Of Industry Experience

26

Brands Reviewed

38+

Research Hours

The Best Home Insurance Companies In Pensacola, FL


Best Overall

Overall Rating
4.9

Key Statistics

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

Why We Like Them

Nationwide takes the top spot overall for several reasons. Firstly, it boasts an outstanding A+ (Superior) rating from AM Best, ensuring strong financial stability. Additionally, Nationwide excels in customer satisfaction ratings across various online platforms, proving its commitment to excellent service. With a prominent presence of agents in South Florida and highly competitive rates, Nationwide is a solid choice all around.

What sets Nationwide apart is its standard home insurance policy, which offers unique coverages not commonly found with other carriers. For instance, they provide reimbursement for credit card fraud and include ordinance or law coverage, ensuring compliance with more stringent codes when rebuilding becomes necessary.

Customizing your policy with add-ons is another advantage. Better Roof Replacement allows for upgraded roofing materials to be covered in case of qualified events. Another option, Brand New Belongings, provides replacement cost coverage for your personal belongings. In the event of damage or destruction, you’ll be reimbursed for the depreciated value of the items, enabling you to repurchase them and submit the receipts to Nationwide for reimbursement of the cost difference.

Purchasing home insurance from Nationwide is convenient, with options to buy from a local agent, over the phone, or online. Furthermore, managing your policy is hassle-free through the Nationwide website or mobile app, which allows for filing and tracking claims, making payments, and making policy changes.

Nationwide’s average cost for home insurance in Pensacola: $110/month

Benefits & Drawbacks

Benefits
  • Competitive premiums in Pensacola
  • Additional coverages available, such as upgraded roofing and replacement cost protection for belongings
  • Standard policy includes credit card protection
Drawbacks
  • Reimbursement required for optional contents replacement cost coverage

Best For Military Families

Overall Rating
4.8

Key Statistics

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

Why We Like Them

USAA came in a close second for Best Overall, primarily because it’s exclusively available to military members and their families. However, that doesn’t take away from the fact that USAA is still a highly reliable choice.

Founded in 1922 by a group of 25 Army officers who wanted to self-insure their cars, USAA now offers a range of insurance and financial products for members of the U.S. armed forces, Reserve, veterans, and their families. Their headquarters is located in San Antonio, and they have additional offices in various U.S. locations, as well as in London, Frankfurt, and Luxembourg.

USAA’s standard homeowners insurance policy provides valuable features such as replacement cost coverage for personal belongings and coverage for uniforms of active-duty and deployed service members. They may also offer optional insurance coverage for events like earthquakes, home-sharing, and condo insurance. In addition, if you’re looking for flood protection, you will need to get flood insurance separately with the NFIP.

Eligible members can conveniently purchase USAA insurance products online using their active membership ID, through phone assistance, or by visiting a local branch.

To enhance customer convenience, USAA offers an automated agent chatbot on their website, allowing easy access to online accounts. Through the online platform, policyholders can manage various tasks such as bill payments, policy changes, and claims. It’s important to note that USAA has an excellent A++ rating from AM Best, indicating the highest level of financial strength for insurance companies.

Average premium for USAA homeowners insurance in Pensacola: $168/month

Benefits & Drawbacks

Benefits
  • Standard contents replacement cost coverage
  • Inclusion of coverage for active duty and deployed service member uniforms and equipment
Drawbacks
  • Lack of in-person locations in Pensacola
  • Limited discounts compared to competitors
  • Eligibility restricted to current and past military members and their immediate families

Best For Agent Presence

Overall Rating
4.8

Key Statistics

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

Why We Like Them

Taking the second runner-up spot, State Farm stood out due to its strong presence of agents in Pensacola and South Florida. This is crucial not only for the availability of a considerable number of State Farm agents in the aftermath of severe storms or hurricanes but also because of the numerous claims adjusters and claims offices located in Pensacola.

State Farm offers a standard homeowners insurance policy that can be personalized with additional coverages (also known as supplementary coverages). These include options such as ordinance and law coverage, identity theft protection, and insurance for valuable items like jewelry.

Notably, State Farm holds the highest financial strength rating available from AM Best, receiving an impressive A++ rating.

For added convenience, State Farm offers optional replacement cost coverage for your home, other structures, and personal property. This coverage replaces damaged items at their current market value without considering depreciation. Without this endorsement, replacement is calculated based on the actual cash value. However, if you’re looking for flood protection, you will need to get a flood policy separately with the National Flood Insurance Program (NFIP).

While you can initiate the quote process with State Farm online, the policy purchase requires working with a local insurance agent. Policyholders can utilize the State Farm website or app to file claims, manage their accounts, and opt for paperless billing. The website also offers a comprehensive resource library to help you gain a better understanding of how insurance works.

Average premium for State Farm homeowners insurance in Pensacola: $134/month

Benefits & Drawbacks

Benefits
  • Competitive premiums that offer great value
  • Highest available financial strength rating
  • Extensive network of local agents in South Florida
Drawbacks
  • Policies exclusively sold through company agents, not available through independent agents

Cheapest Coverage

Overall Rating
4.5

Key Statistics

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

Why We Like Them

Tower Hill stands out as the most affordable option for insurance rates in Florida. However, it’s important to note that the company lacks a JD Power score for customer satisfaction and holds a B++ rating from AM Best. These factors can likely be attributed to Tower Hill Insurance’s specialization as a Florida homeowners insurance company, with coverage limited to only 16 additional states.

Tower Hill’s homeowner’s insurance allows homeowners to customize their own insurance plan. Alongside standard coverage types such as dwelling and personal property, their Typical and Prime Plus policies offer various endorsement options. These include extended replacement cost, water backup coverage, and personal injury insurance coverage. However, if you’re looking for flood protection, you will need to look into flood insurance policies from the National Flood Insurance Program (NFIP).

What sets Tower Hill apart is their offering of unique add-on coverage options that may be challenging to find with other carriers. These additions range from landscaping coverage and food spoilage to trampoline liability coverage and lock replacement, among others.

Furthermore, Tower Hill’s highest-tier Spire package includes numerous optional coverages already incorporated into the policy for added convenience.

Average Premium for Tower Hill home insurance in Pensacola: $108/month

Benefits & Drawbacks

Benefits
  • Offers the most affordable rates in Pensacola and throughout Florida
  • Specialized policy packages tailored for high-value homes
  • Provides a wide range of coverage options to customize homeowners insurance to individual needs
Drawbacks
  • Received a financial strength rating downgrade by AM Best in 2022
  • Higher than average number of customer complaints reported to the National Association of Insurance Commissioners (NAIC)
  • Lacks a mobile app and provides limited policy information on the website

Best For Florida-Based Insurers

Overall Rating
4.6

Key Statistics

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

Why We Like Them

Citizens Property Insurance Corporation plays a vital role in Florida’s property insurance marketplace. It provides essential property insurance protection to individuals who are entitled to coverage through the private market but are unable to obtain it.

Being one of Florida’s prominent insurers for homes and businesses, Citizens is committed to delivering service that meets the standards set by the private market.

Established in August 2002 by the Florida Legislature, Citizens operates as a not-for-profit, tax-exempt government entity. Its primary objective is to offer property insurance to eligible Florida property owners who struggle to find coverage in the private market.

Citizens is funded by policyholder premiums. However, in the event of a significant storm or a series of devastating storms leading to a deficit, Florida law mandates that Citizens impose assessments on most Florida policyholders. However, if you’re looking for flood protection, you will need to get flood insurance separately with the National Flood Insurance Program (NFIP).

Average premium for Citizen’s homeowners insurance in Pensacola: $210/month

Benefits & Drawbacks

Benefits
  • Headquartered in Tallahassee, Florida
  • Specializes in insuring Florida homes
Drawbacks
  • Premiums may rise due to significant storm events
  • Lacks a customer service rating from JD Power

Best For High-Value Homes

Overall Rating
4.6

Key Statistics

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

Why We Like Them

Chubb stands as an excellent choice for homeowners with valuable assets to protect, offering a range of extras to enhance coverage. However, budget-conscious homeowners in Pensacola should be aware that Chubb’s rates tend to be higher than the average.

Chubb understands the unique considerations of insuring high-value homes. With Chubb, you can access various policy add-ons, notably extended replacement cost coverage, which helps rebuild your home after a covered accident.

An additional benefit is Chubb’s risk consulting program, where a Chubb consultant can survey your home for potential fire or security concerns before accidents occur, providing an extra layer of protection.

The Chubb Masterpiece insurance policy caters to the needs of affluent clients, covering crucial aspects like data restoration from computer viruses and property management services. However, if you’re looking for flood protection, you will need to get flood insurance separately with the NFIP.

When it comes to claims, Chubb claims agents have the authority to provide immediate claim payments. However, claim denials require approval from a manager, as Chubb strives to streamline the claims process and make it as seamless as possible.

Average premium for Chubb homeowners insurance in Pensacola: $224/month

Benefits & Drawbacks

Benefits
  • Provides comprehensive home assessments to ensure clients have tailored coverage for emergency situations
  • Offers a cash settlement option for those who prefer not to rebuild their property after a total loss
  • Masterpiece-level policyholders have the freedom to select their own contractors and artisans for claim-related repairs
Drawbacks
  • Only offers agent-assisted quotes, no online quoting available
  • Premiums for their policies are generally higher compared to most competitors due to the focus on high-value properties

Best For Discounts

Overall Rating
4.7

Key Statistics

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

Why We Like Them

Allstate sets itself apart with an impressive total of 11 homeowners insurance discounts, surpassing the industry average of seven. Homeowners insurance analysts consider seven of these discounts to be uncommon offerings, showcasing Allstate’s commitment to providing valuable savings opportunities.

Let’s take a closer look at some of Allstate’s noteworthy discounts:

  • Claims forgiveness: Enjoy additional coverage that prevents your rate from increasing after filing a claim.
  • Claims-free: Earn a 5% renewal discount each year as long as you remain claims-free.
  • Deductible reward: Receive a $100 deduction from your deductible upon signing up.
  • New home: Receive a discount for insuring a newly constructed home.
  • Responsible payment: Enjoy an additional discount for maintaining a good payment history.
  • Early payment: Save up to 10% by purchasing a new policy at least seven days before your old policy expires.
  • Protective device: Get a discount for installing theft and fire protection devices.
  • Bundle to save money: Save up to 25% when bundling your home and auto insurance.
  • Automatic payment: Benefit from savings of up to 5% by setting up automatic payments.
  • Loyalty: Earn a renewal discount of up to 10% for staying with Allstate.
  • New Homebuyer: Enjoy a discount tailored for recent homebuyers.

Allstate’s homeowners insurance covers essentials such as dwelling and personal property coverage, liability coverage, and guest medical protection. In addition to these standard coverages, Allstate offers homeowners a range of optional coverages to further customize their policies. However, if you’re looking for flood protection, you will need to get flood insurance separately with the NFIP

With nine optional coverage types available, Allstate goes beyond the common offerings. Alongside popular options like identity theft and scheduled personal property coverage, Allstate provides unique coverage specifically designed for homeowners with yards and gardens. This includes increased coverage limits for landscaping costs and riding lawn mowers, ensuring comprehensive protection for your outdoor spaces.

Benefits & Drawbacks

Benefits
  • Provides a wide range of discounts to help save on premiums
  • Boasts a substantial presence of local agents and claims adjusters in South Florida
  • Demonstrates strong financial stability
Drawbacks
  • Experiences a higher number of complaints compared to the national average

Best For Customer Satisfaction

Overall Rating
4.7

Key Statistics

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

Why We Like Them

Progressive impresses with the second highest customer satisfaction score from JD Power among all the companies we reviewed, trailing only behind USAA. However, we couldn’t award USAA the Best for Customer Satisfaction accolade since it exclusively offers homeowners insurance policies to military members and their families.

When it comes to Progressive homeowners insurance policies, they encompass the standard coverage types commonly found in homeowners insurance:

  • Dwelling coverage: Repairs or replaces your home if it suffers damage from a covered incident like a fire or tornado.
  • Other structures coverage: Covers repairs or replacements for structures not attached to your home, such as fences or sheds.
  • Personal property coverage: Pays for repairs or replacements of your belongings, including clothing, electronics, and furniture.
  • Liability coverage: Provides coverage for property damage and injuries to others, such as accidents occurring on your property. It also offers a legal defense if you face a lawsuit.
  • Additional living expenses coverage: Covers additional living expenses like hotel bills, meals, and pet boarding fees if you’re unable to reside in your home due to a covered incident like a tornado.

According to Progressive’s filings with the Florida Department of Insurance, homeowners with certain dog breeds may be ineligible for coverage. These breeds include 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. It’s important to be aware of these restrictions when considering Progressive as your homeowners insurance provider. Also, if you’re looking for flood protection, you will need to get flood insurance separately with the NFIP

Average premium for Progressive home insurance in Pensacola: $264/month

Benefits & Drawbacks

Benefits
  • Offers highly competitive rates in the market
  • The Name Your Price tool allows you to customize coverage based on your budgetary preferences
Drawbacks
  • Does not provide options for increased dwelling coverage beyond the standard offerings
  • Maintains a banned dog list in Florida that may disqualify certain breeds from obtaining coverage

How To Find The Best Homeowners Insurance Company For You

Finding the best home insurance company in Pensacola requires dedication, but the effort is well worth it. Your South Florida home serves as a significant financial asset, making it crucial to safeguard both your property and belongings for the sake of your family’s financial security.

To simplify your search, follow these steps:

  • Conduct thorough online research on home insurers in Pensacola and narrow down your choices to three reputable carriers that instill confidence.
  • Determine the coverage limits that suit your needs (you may seek assistance from an agent to make an informed decision).
  • Obtain quotes for the desired coverage from the three insurers you’ve selected.
  • Evaluate the carriers based on their coverage options, customer reviews, financial strength, and rates.
  • Select a provider that aligns with your criteria.
  • Complete the application process to secure the coverage you require.

Keep in mind that some companies offer an entirely online experience, allowing you to accomplish all these steps digitally. However, others may require you to communicate with an agent directly.

Largest Homeowners Insurance Companies In Florida

According to the 2021 data from the Insurance Information Institute, we have compiled a list of Florida’s homeowners insurance companies with the highest number of policyholders.

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

Average Cost Of Home Insurance In Pensacola, FL

Considering the median home data from the U.S. Census, we have calculated the insurance rates for a 2,100-square-foot home constructed in 1986 with $215,300 of dwelling coverage. These rates reflect the average cost of insuring such a property.

Insurer Annual Rate
Tower Hill $1,301
State Farm $1,549
Allstate $2,086
Average $2,099
Progressive $2,172
Heritage $2,254
Chubb $2,693

Average Cost For Lots Of Personal Property

Insurer Average Annual Rate
Allstate $1,219
Nationwide $1,261
State Farm $1,765
Citizens $3,090
Travelers $1,086
ASI $1,339
Chubb $2,709
Heritage $2,574
Universal North America $1,379

Average Cost For High Deductibles

Insurer Average Annual Rate
Chubb $1,769
State Farm $1,421
Nationwide $912
Travelers $864
Allstate $1,157

Average Rates For Poor Credit

Insurer Average Annual Rate
Nationwide $1,076
Allstate $1,049
Chubb $3,762
Heritage $2,254
Travelers $974

How To Get An Online Homeowners Insurance Quote In Pensacola

If you’re looking to obtain an online quote for home insurance in Pensacola, follow these simple steps:

  • Start by visiting the websites of the insurance companies you’re interested in.
  • You’ll typically find a quote form on their website. Fill out the form by providing details about your home, such as its value, age, square footage, exterior material, and your zip code.
  • Submit the information, and you will receive your quotes promptly.

While there may be other homeowners insurance companies in Pensacola that catch your interest, please note that not all of them offer online quoting. In such cases, it’s recommended to reach out to a licensed agent located in Pensacola for assistance with obtaining a quote.

How To Buy Homeowners Insurance In Pensacola

Follow these simple steps to buy homeowners insurance in Pensacola:

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

Factors That Impact The Cost Of Your Home Insurance Policy In Pensacola

The cost of Pensacola homeowners insurance is influenced by various factors, including:

  • 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

Living in Pensacola, your home’s proximity to the Atlantic Ocean is a key factor in determining your insurance rates.

Home Insurance Discounts In Pensacola

When purchasing homeowners insurance in Pensacola, ask your agent about potential discounts to reduce your premium. You may be eligible for multiple discounts on the same policy, including:

  • Claims-free: Renewal discount for remaining claims-free each year
  • Bundle: Up to 25% discount for combining home and auto insurance with certain companies to save money
  • Automatic payment: Discount for automatic premium deductions from your checking account
  • New home: Discount for insuring a newly built home
  • Responsible payment: Additional discount for maintaining a good payment history
  • Early payment: Discount for purchasing a new policy at least seven days before your old policy expires

Florida and Pensacola Homeowners Insurance Laws To Know

Starting January 1, 2023, Florida enacted SB 2A, a new property law.

One key change is the introduction of the Florida Optional Reinsurance Assistance Program (FORA), a billion-dollar safety net to support insurance companies during hurricane seasons or similar catastrophes. Another significant change is the elimination of Assignment of Benefits (AOB), which involves signing over insurance claim checks to contractors. This step aims to address concerns and promote transparency in the insurance claim process.

In The News

  • According to a news report from WFAA in Tampa, experts in the home insurance industry anticipate that property insurance rates in Florida may see a substantial increase of up to 50% during the summer of 2023.
  • United Property & Casualty (UPC) has become the 10th property insurance company in Florida to enter receivership within the past three years. This development highlights the challenges faced by insurers in the state’s property insurance market.

FAQs

Is homeowners insurance more expensive in Florida?

Homeowner insurance in Florida can be up to 50% more expensive than in other states. The state’s coastal areas have faced costly damages from hurricanes, causing insurance companies to increase rates for Pensacola homeowners insurance.

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

Pensacola homeowners insurance rates can differ depending on the insurer. Two of the more affordable options are Allstate, with an annual rate of $4,310, and Nationwide, with an annual rate of $5,501.

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

The cost of homeowners insurance in Pensacola will depend on the value of your home. On average, a dwelling coverage of $250,000 can result in an annual premium of approximately $2,200.

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