Best cheap homeowners insurance in Jacksonville

The best home insurance companies in Jacksonville

In a disaster-prone state like Florida, it’s especially important that your home insurance policy provides financial protection when you need it most. According to Risk Factor, 100 percent of Jacksonville homes are at extreme risk for wind damage, and 70 percent are at moderate fire risk. Home insurance can offer significant financial protection from natural disasters, but it’s important to choose a company that fits your needs. Bankrate’s insurance editorial team keeps close tabs on the turbulent Florida insurance market to review providers that are still actively writing policies in the state. Based on our research, Tower Hill, Florida Peninsula and Security First are some of the best home insurance companies in Jacksonville to consider.

The cheapest home insurance companies in Jacksonville

Home insurance in Jacksonville may not be as expensive as other Florida cities, but it can still strain your budget. The average cost of home insurance in Jacksonville is 58 percent less than the Florida average of $5,770. Finding cheap home insurance in Jacksonville may be more difficult to do on your own, but Bankrate’s insurance editorial can help. We’ve looked through our rate data from Quadrant Information Services and found a list of the cheapest home insurance companies in the city for multiple dwelling coverage limits.

How much is home insurance in Jacksonville, Florida?

In Jacksonville, homeowners pay an average of $2,698 per year for $300,000 in dwelling coverage. To compare, the national average cost of home insurance is $2,153 per year for a policy with the same dwelling limit. But, keep in mind that these are just average figures to be used for comparison purposes. Your Jacksonville home insurance costs will depend on a couple of different personal rating factors like your credit rating, home age and deductible level.

Jacksonville rates by credit tier

Building credit can be an effective way to secure more affordable rates: Our data shows that, on average, homeowners with excellent credit pay 18 percent less than Jacksonville homeowners with poor credit. Although improving your credit won’t happen overnight, taking steps to boost credit can significantly affect your home insurance costs. The table below illustrates carriers with the cheapest rates for $300,000 in dwelling coverage for various credit tiers.

Jacksonville rates by home age 

Older homes usually have higher insurance costs than newer builds. Older homes, particularly ones with older roofs, may be more prone to claim-causing damage. Plus, an older home could also be built with materials that are harder to find nowadays. This could make a potential rebuild more expensive, and possibly lead to higher rates. You can compare the cheapest home insurance companies in Jacksonville for $300,000 in dwelling coverage and average insurance costs for different home ages in the table below.

Jacksonville rates by deductible amount

Your home’s age is unchangeable, and raising your credit-based insurance score can take time. Raising your home insurance deductible can be a faster way to secure a cheaper home insurance rate. Your insurance deductible is the amount of money you are financially responsible for. By shifting a greater part of the financial burden away from your insurance company, you will likely be rewarded with a lower premium. However, be cautious not to raise your deductible too high or to an amount you cannot reasonably afford.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

• Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Credit: Rates were calculated based on the following insurance credit tiers assigned to our homeowners: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining home insurance rates: California, Maryland, Massachusetts.

Claims: Rates were calculated based on the following insurance claims assigned to our homeowners: “fire ($80,000 in losses), liability ($31,000 in losses), theft ($5,000 in losses) and wind ($12,000 in losses).”

Year built: Rates were calculated based on the following years built for homes and assigned to our homeowners: “1959, 1982, 1992, 2010, 2016 (base) and 2020.”

Bankrate Scores

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.