Home Insurance in Miami Beach, Florida
With a median home value of $556,700, Miami Beach is 20% higher than the Miami-Dade County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Miami Beach was built around 1969. About 28% of homes were built before 1960, about 8 points above Miami-Dade County's 21%.
Housing in Miami Beach breaks down to 10% single-family homes and 85% apartments in buildings with 5+ units.
In Miami Beach, about 44% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Miami Beach has an owner-occupancy rate of 41% and a vacancy rate of 34%; unoccupied homes typically need a different coverage form.
85% of homes in Miami Beach are primarily heated with electricity.
Miami-Dade County had 355,123 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hurricane (Very High). See the full Miami-Dade County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Florida carries a statewide average premium of $2,779 per year.
Key figures
| Median home value | $556,700 |
|---|---|
| Median year built | 1969 |
| Owner-occupied share | 41% |
| Share of owner-occupied homes with a mortgage | 44% |
| Top county hazard | Hurricane (Very High) |
| Active NFIP policies in Miami-Dade County | 355,123 |
| Home insurance premium | $2,779 - statewide average (NAIC, 2023 data) |
Nearby towns
- North Bay Village
- El Portal
- Miami Shores
- Miami
- Indian Creek
- Surfside
- Biscayne Park
- Bay Harbor Islands
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)