Homeowners insurance in Miami and South Florida

According to the NAIC, the average Florida homeowners (HO-3) premium was $2,779 in 2023 (report published July 2026). That statewide average blends homes of every size and value, so your quote can be higher or lower. Price depends on location, rebuild cost, wind-mitigation features, deductibles, coverage limits and claims history. A licensed agent can compare quotes for your home.

No. Florida law does not require homeowners to carry homeowners insurance, but if you have a mortgage your lender may require it because it has a financial interest in the property. Federal law separately requires flood insurance on many mortgages in high-risk flood zones, and homeowners policies typically exclude flood. Without a policy, you would pay for repairs yourself.

Yes. Coverage is available from private insurers, and Citizens Property Insurance Corporation, the state-created insurer of last resort, covers homes that cannot get private coverage. Under the "20% rule," a home generally is not eligible for Citizens if an authorized private insurer offers comparable coverage for a premium no more than 20% above Citizens' premium. A licensed agent can check your options.

A hurricane deductible is a separate deductible, usually a percentage of your dwelling coverage, that applies to covered hurricane damage instead of your regular deductible. Florida insurers must offer a $500 option or 2%, 5% or 10% of dwelling coverage (some exceptions apply). At 2%, $200,000 of dwelling coverage means a $4,000 deductible. It applies on an annual basis, so hurricane losses in one calendar year share a single deductible.

A wind mitigation inspection documents your home's storm-resistant features so you can claim the windstorm discounts Florida requires insurers to offer, while a 4-point inspection reviews the roof, electrical, plumbing and HVAC systems. A completed wind mitigation form stays valid five years if nothing changes. Insurers decide when to require a 4-point inspection; Citizens requires one on applications for homes over 20 years old.

Dwelling coverage (Coverage A) is generally based on the cost to rebuild your home, called replacement cost, not its market value, because market value includes land and land is not insured for property damage. Insurers may require you to insure 80%, 90% or 100% of replacement cost, and underinsuring can reduce what a claim pays. A licensed agent can help estimate your rebuild cost.