Homeowners insurance in Florida

Why do I need homeowners insurance in Florida?

Home insurance is essential for your financial well-being because it helps protect your most valuable asset if disaster strikes.

Unfortunately, Florida is seeing increasingly frequent and powerful natural disasters like hurricanes and tropical storms. Having a comprehensive homeowners insurance policy gives you peace of mind knowing that if the worst should happen, you can get back on your feet as soon as possible.

We're dedicated to making sure Floridians have the means to recover if they fall victim to a natural disaster, theft, or vandalism. Make the right decision and find property insurance that will protect you for years to come.

Will my home insurance policy payout in the event of a major disaster?

Kin Interinsurance Network (NAIC 16603) is a fully licensed Florida home insurance carrier with a financial stability rating of A, Exceptional from Demotech, Inc. That means they have the financial strength to pay claims, even after a widespread catastrophe.

^{The most current Financial Stability Rating® must be verified by visiting www.demotech.com.}

Kin intends to stay in Florida. Come rain or shine, we'll be here to help you find coverage.

What does Florida homeowners insurance cover?

The HO3 Florida home insurance policies we sell offer:

• Replacement cost coverage for your dwelling, other structures, and your belongings.
• Loss of use coverage can pay for additional living expenses if a covered claim makes your home uninhabitable during repairs.
• Personal liability coverage protects you if you’re held responsible for another person’s bodily injuries or property damage.
• Medical payment coverage may help pay for someone’s immediate medical bills if they are injured on your property.

Your policy covers your home for all damage except the perils explicitly excluded in the policy. That means you’re covered for hurricane damage, catastrophic ground cover collapse, and more.

Flood insurance and sinkhole insurance are both available as endorsements, but they are not part of your standard home insurance policy. If you’re eligible for coverage, you can add them simply by selecting the endorsements in our online application or asking your representative for help.

Protect your most valuable asset

Your home is likely the biggest purchase you will ever make. While home insurance can’t stop another catastrophic event like 2023’s Hurricane Idalia from hitting Florida shores, it can help you recover. Getting home insurance through Kin can make it easier for you to repair or even rebuild when the worst-case scenario becomes a reality.

Defend your detached structures

Detached garages, fences, and sheds are just a few examples of outbuildings that you may have on your property. Home insurance policies typically cover these other structures as well as the ones you may not consider, such as:

• Sidewalks.
• Driveways.
• Permanent docks.
• Hot tubs.

The policies we offer protect detached structures on your property against the same risks as your home, from fire to vandalism and theft.

Cover additional expenses

Hopefully, you’ll never see the kind of damage that makes your home uninhabitable. But if you do, home insurance may cover the costs that go beyond your normal living expenses, such as:

• Temporary accommodations.
• Increased food bills.
• Extra commuting costs.
• Necessary personal services like laundry or pet boarding.

Home insurance can sometimes cover these costs if civil authorities require you to evacuate for an event that is included in your policy.

Do you lease your home or part of your home to renters? In that case, you may need a different type of coverage. Check out a landlord insurance policy.

Florida homeowners insurance costs

According to the Insurance Information Institute (III), the average cost of homeowners insurance in Florida is about $2,437 per year – and going up all the time. Kin customers report saving over $980 on average when they switch to Kin.*

Individual homeowners insurance premiums vary depending on your home’s characteristics, where in Florida you live, and other factors. For an idea of what your costs might be based on where you live in Florida, check out our guides. 

Homeowners insurance guides for Florida cities

How to save money on your home insurance in FL

While you can’t control some of the factors that determine your premium, like the location of your home or its age, you do have some options that can reduce insurance costs. For starters, Florida residents may be eligible for the following home insurance discounts:

• Home security discounts (think security and fire alarms)
• Wind mitigation discounts (the more wind-proof your home, the better)
• Water detection discounts (because no one wants a flooded basement)
• Claims-free discount (good job on keeping your home safe!)
• Electronic policy (save some paper and save some green)

And, here are some ways to save even more money on homeowners insurance:

• Choose a higher deductible. This will lower your premium, but you will pay more out of pocket when you need to make a claim. Never take on a deductible you can’t comfortably afford.
• Improve your credit score. This has a big impact on your rates. Simply paying your bills on time and not carrying a large balance on your credit cards can boost your score quickly.
• Shore up your home’s wind defenses. Florida requires home insurance companies to offer insurance discounts for homes that are hurricane-resistant. Reinforcing your roof and installing impact-resistant windows can significantly reduce your insurance bill.

Check out our article Florida wind mitigation breakdown and find out if this can lower your FL homeowners insurnace quote.

Is homeowners insurance required in Florida?

Yes, home insurance is usually required if you have a mortgage loan. Though homeowners insurance isn’t mandated at the state level, nearly all mortgage providers want proof of insurance.

What’s more, if your home is in a Special Flood Hazard Area (SFHA) like many Florida homes, your lender may require you to have flood insurance, too.

How much homeowners insurance do you need in Florida?

The value of your home determines how much dwelling coverage you need. Coverage  B, C, and D are typically a percentage of your dwelling coverage, often about 20%. For your personal property, we usually recommend a minimum of $100,000.

Looking for more coverage? The Signature Coverage Collection may be the right option for you.

Is hurricane insurance included?

Technically, there’s no such thing as hurricane insurance, but your policy does cover wind damage caused by hurricanes. It will also have a hurricane deductible that applies when you make a claim for losses caused by hurricane winds.

Hurricane deductibles are usually available as the following dollar amounts and percentages of your policy’s dwelling insurance:

• $500
• 1%
• 2% (this is Kin’s default option)
• 5%
• 10%

So if you have $300,000 in dwelling coverage and a 2% hurricane deductible, you’d be responsible for $6,000 toward a hurricane-wind loss.

As for flood damage that typically accompanies hurricanes, your standard home insurance can’t cover that loss. Only flood insurance can do that. Kin can help homeowners find affordable flood insurance in Florida to protect their homes.

When do hurricane deductibles apply in Florida?

These deductibles apply when you experience property losses from hurricane winds. That means the loss must have occurred during a hurricane in the following timeframes:

• Starting when a hurricane watch or hurricane warning is issued for any portion of Florida by the National Hurricane Center.
• Remaining in effect for as long as hurricane conditions persist.
• Ending 72 hours after the end of the hurricane watch or warning.

The Insurance Information Institute estimates that 2.8 million Florida homes were at risk for storm surge damage from Category 5 hurricanes in 2020. The state’s steady population growth means that number has likely increased. Learn more about hurricane insurance in Florida.

Does Florida homeowners insurance cover sinkholes?

Yes, to some degree – and that’s a good thing considering 6,500 Floridians file sinkhole-related insurance claims each year.

Florida law requires insurers to provide catastrophic ground cover collapse coverage, which can cover extreme sinkhole losses. For this coverage to kick in, all the following conditions must be met:

• There’s an “abrupt” collapse of ground cover
• The depression in the ground cover is clearly visible
• The home and its foundation sustain structural damage
• A government entity condemns the structure and orders it to be vacated

Sinkhole insurance is a separate type of coverage not automatically included in a homeowners insurance policy or quote. It offers more robust protection that applies to a variety of sinkhole losses.

Top risks for Florida homeowners

The risks your home faces depend on your location and your home’s characteristics. However, in Florida, the biggest risks most properties face are found in the chart below.

Insurance tips for Florida homeowners

• Think about the current state of your home and whether you have adequately protected it against the threat of hurricanes, floods, and more.
• If you already have a policy, review your coverage every year to make sure you qualify for every available discount.
• Check out our Claims Center for insight into how the claims process works.
• Learn about the Florida Homestead Exemption.
• Get a flood insurance policy, as water damage from storm surges is a notable exclusion from homeowners insurance in Florida.
• Install hurricane clips and get a wind mitigation inspection.
• Be proactive about home maintenance and regularly check your plumbing and electrical systems throughout the year.
• Prepare a disaster supply kit in case you need to relocate temporarily at short notice.
• Ensure you have an evacuation plan should the worst happen. Let your house insurance in Florida help you get back on your feet.
• Monitor extreme weather threats during hurricane season to avoid getting caught out. Let your homeowners insurance in Florida take care of the rest.
• Compare homeowners insurance companies in Florida to find out which is best for your needs.

Ready to see the Kin difference? Get a quote today.

Get the FL homeowners insurance you need through Kin

Your mortgage company may require hazard insurance in Florida, but every responsible homeowner knows that they need coverage no matter what. And, at Kin, we’re committed to making it quick and easy to get Florida homeowners insurance quotes. Enter your address to get started.

The world is changing, and we believe in adapting to every new normal. That’s why we harness the power of the digital age so homeowners can get the insurance coverage and services they need in a matter of a few clicks.

What makes Kin stand out from other Florida home insurance providers? Our technology also helps Kin customers save money when buying insurance through us. We use publicly available resources to ingest thousands of data points that allow us to find the most accurate quotes. Not sure if you're getting the right coverage? Talk to one of our licensed agents who will be happy to walk you through every detail of your Florida homeowners insurance policy quote to make sure you get home insurance you can rely on.

To learn more about personalized home insurance quotes, call us or use our online application to start saving on five-star coverage today.

^{*Florida customers who switched to Kin report annual savings of $1,005 on average. Based on Kin Customer Savings Survey conducted May 2023 - May 2024.}