How to think about home insurance in Florida: what to buy and why (2026)

For Florida homeowners, the question is replacement cost, not market value. Construction costs are up materially since 2020. A home insured for its 2020 dwelling value can be 25-35% underinsured against current rebuild cost.

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How PolicyChat sources this data

PolicyChat Rate Authority aggregates three public + licensed sources, with per-record provenance. Every rate cited on this page links to its source filing.

• State DOI / SERFF filings — public rate filings, refreshed daily.
• NAIC published averages — annual state aggregates (currently 2023, latest released).
• Licensed partner feeds (EverQuote, LendingTree) — real-time per-profile quotes when a user walks through Sage.

Methodology: /methodology/rate-authority/

How to think about this

Florida’s insurance market is restructuring after the 2022 legislative reforms (SB 2A) eliminated assignment-of-benefits abuse and capped attorney-fee multipliers. Carriers that had exited or were on the brink of insolvency are starting to write new business again, but home rates remain among the highest in the country.

Replacement cost = current cost to rebuild your specific home with current materials + labor. Some carriers offer guaranteed-replacement-cost coverage (Chubb, PURE, USAA for members); most cap at policy limit, which means underinsurance shows up at exactly the moment you can’t afford it.

Florida-specific things to know

• PIP (no-fault) auto insurance is required by Florida statute; $10K minimum medical coverage.
• Citizens Property Insurance is the state-run insurer of last resort; ~1.2M policies as of late 2024.
• SB 2A (2022) eliminated AOB abuse, capped contingency-fee multipliers, and required a one-way attorney-fee statute repeal.

When the recommendation changes

Florida home carrier baselines (reference)

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