Best cheap homeowners insurance in Fort Lauderdale

The best home insurance companies in Fort Lauderdale

With insurance companies leaving the state en masse, Fort Lauderdale homeowners may have difficulty securing a home insurance policy. The strained insurance market, together with Fort Lauderdale’s coastal position, has sent insurance rates skyrocketing. On average, home insurance in Fort Lauderdale costs $8,347 per year for $300,000 in dwelling coverage, which is 54 percent more than the statewide average of $5,409. While the pickings are slim, Bankrate’s insurance editorial team researched which of the remaining Florida home insurance companies may be the best for Fort Lauderdale homeowners. We looked for companies with high third-party financial strength ratings, ample coverage offerings and average rates close to or below the city average. Based on our findings, Tower Hill, Kin and Florida Farm Bureau are some of the best home insurance options in Fort Lauderdale.

The cheapest home insurance companies in Fort Lauderdale 

Fort Lauderdale home insurance costs are significantly higher than both the national and Florida average. This can make finding cheap home insurance companies more difficult, but not impossible. Using average rate data from Quadrant Information Services, Bankrate has found the most affordable providers for $300,000 in dwelling coverage. For homeowners who need higher limits, we’ve also found the cheapest home insurance companies in Fort Lauderdale for other dwelling coverage limits.

How much is home insurance in Fort Lauderdale, Florida?

In short, home insurance in Florida is expensive. On average, Fort Lauderdale homeowners insurance costs $8,347 per year for $300,000 in dwelling coverage. This is significantly higher than the national average cost of home insurance, which is $2,329 per year for the same coverage. Fort Lauderdale’s coastal position puts it at a higher risk for hurricane damage, which makes properties in Broward County riskier to insure. And, with home insurance, higher risk typically means higher rates. Hurricanes are not the only threat to Fort Lauderdale homes. According to Risk Factor, over 78 percent of properties are at risk of flooding, which can also drive up the cost of home insurance and make finding affordable rates more difficult.

Fort Lauderdale rates by credit tier

In Florida, insurers can look at your credit-based insurance score when setting your home insurance rate. Most of the time, homeowners with good or excellent credit receive the cheapest rates, while homeowners with average or poor credit histories pay more. That is because more home insurance companies view people with bad credit as more likely to file claims that can cost an insurer money. In Fort Lauderdale, homeowners with poor credit pay an average of 10 percent more per year than homeowners with excellent credit. Building credit can take time, but taking the steps to boost your credit score may help secure a more affordable rate.

Fort Lauderdale rates by home age

Home age is another rating factor that most insurance companies look at. Broadly speaking, new builds can be cheaper to insure than older homes. Older homes have a larger chance of being built with materials that are harder (and costlier) to acquire, and they may have major systems on the brink of failing. If part or all of an older home is damaged and needs significant repairs, it could cost more. The average age of a single family home in Fort Lauderdale is 49 years, which means that a significant number of homeowners could be considered high-risk just based on the year their home was built. Updating systems like plumbing and electrical could mitigate elevated home insurance rates.

Fort Lauderdale rates by deductible amount

One way to help lower the ultra-high cost of home insurance in Fort Lauderdale is to choose a high-deductible insurance policy. Your deductible is the amount of money you are financially responsible for in the case of a covered claim. When you shift more of the financial burden away from your insurer, you’ll likely be rewarded with a lower rate. However, make sure that your deductible is always an amount you can realistically afford.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2025 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: $300,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $30,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $150,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $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, $1,500, $2,000 or $5,000 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.

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 Score

Our 2025 Bankrate Score considers variables our insurance editorial team determined impact policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s cost of coverage, product availability, financial strength ratings, online capabilities and customer and claims support accessibility. We grouped these factors into three essential categories — cost and ratings, coverage and savings, and support — which we then weighted in a tiered approach.

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, our team analyzed 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 National Association of Insurance Commissioners (NAIC).
• 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 in a company’s corporate sustainability efforts.