Homeowners insurance in Florida has become a hot topic due to the increasing costs and challenges associated with obtaining coverage. With major insurers like Farmers Insurance pulling out of the market due to losses from hurricanes and natural disasters, finding the right coverage can be daunting. However, there are still several companies that stand out for their coverage in the Sunshine State.
To help homeowners in Florida navigate the insurance market, CNBC Select has reviewed and compiled a list of the top picks for homeowners insurance in the state. The selection was based on factors such as cost, coverage, and service quality. Here are some of the best homeowners insurance companies in Florida:
State Farm Homeowners Insurance: Known for its customer satisfaction ratings, State Farm offers customizable policies that can be bundled with other types of insurance. While online quotes may not be available in all states, State Farm provides coverage for a range of perils, including fire, theft, and vandalism. It also offers discounts for home security systems and wind mitigation.
Tower Hill Homeowners Insurance: Tower Hill is a Florida-based company that has been providing homeowners insurance for over 50 years. With affordable rates and the ability to pay bills, file claims, and get quotes online, Tower Hill is a great option for homeowners prioritizing value. The company also offers discounts for those living in gated communities or senior communities, as well as for wind mitigation features.
Liberty Mutual Homeowners Insurance: Liberty Mutual is a trusted name in the insurance industry, offering customizable policies with optional features like hurricane damage and water backup coverage. The company provides discounts for newly purchased homes and for bundling home and auto insurance policies. Liberty Mutual also offers flood insurance through the National Flood Insurance Program (NFIP).
These companies have been selected based on their reputation, coverage options, and affordability. By comparing quotes from these top insurers, Florida homeowners can find the best coverage for their needs.
In conclusion, homeowners insurance in Florida may be more expensive and challenging to obtain, but with the right research and comparison, homeowners can find the coverage that suits their needs. It is essential to consider factors such as cost, coverage, and service quality when selecting an insurance provider. By choosing one of the top homeowners insurance companies in Florida, homeowners can protect their investment and gain peace of mind.