HomeInsuranceQts

Home Insurance in Florida

Florida's median home value is $359,000.

The typical home in Florida was built around 1988. About 10% of homes were built before 1960. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.

Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Florida is 61% single-family homes, 24% apartments in buildings with 5+ units and 8% mobile or manufactured homes.

About 56% of owner-occupied homes in Florida have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.

The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 68% of occupied homes in Florida are owner-occupied.

90% of homes in Florida are primarily heated with electricity.

The statewide average premium for a standard HO-3 homeowners policy in Florida is $2,779 per year, according to the NAIC homeowners insurance report (2023 data).

Key figures

Median home value$359,000
Median year built1988
Owner-occupied share68%
Share of owner-occupied homes with a mortgage56%
Home insurance premium$2,779 - statewide average (NAIC, 2023 data)

Counties

Sources