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How much is home insurance in Miami?
I’m looking into purchasing an investment property in Florida. I’m leaning toward Miami. How much is home insurance in Miami?
Bonnie Stinson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That’s so exciting! The average annual price of home insurance in Miami is approximately $2,800. The Florida state average is $1,353.
However, these figures don’t actually tell you much. Rates can vary wildly, even for two properties located within a 15-minute drive.
Here are some factors that affect a home insurance rate:
- Size of the property
- Age of the property
- Amount of coverage
- Zipcode
- Natural disaster threats (flood zones, sinkholes)
You can see how a small condo in a new development could cost you far less to insure than a single-family home in a high-risk coastal area. Use
FEMA’s flood zone
maps to learn which areas to avoid, and be sure to learn how to decipher quotes
before you buy.In Florida, you’re impacted by additional factors:
- A high rate of insurance fraud
- Legislation on property insurance
- High vulnerability to hurricanes
If you’re looking for the highest return on your investment, it’s important to factor in the cost of home insurance. Jerry can help you save money on a policy for your Miami property.
Shopping around is the smartest way to find low rates. You don’t have to sacrifice coverage to unlock better prices! If you have any questions about
homeowners insurance
—or if you’re ready to purchase a policy—reach out to Jerry
. Our friendly agents can answer questions via phone or text, and the app is completely free.Hope this helps!
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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