Best Homeowners Insurance Rates in Miami

This article is always evolving and being updated. Be sure to subscribe to our newsletter to receive the latest content, news, and savings on Florida homeowners insurance.

Photo of Miami, Florida

Did you know that the State of Florida holds the title for being the most expensive state for homeowners insurance? And that Miami-Dade County ranks second in the state (just behind Monroe County) for having high insurance rates.

According to data from Value Penguin, the average cost of home insurance in Miami Dade County is $5,298 per year – $2,417 greater than the state average.

And I thought the dolphins made me cry.

For a home built after 2001 with a $300,000 current replacement value, the cheapest rate would be $3,094 while the most expensive rate would be $7,355, according to the Florida Office of Insurance Regulation.

Of course, rates are based on a number of factors, and you might find yourself paying less than the average. You can get a personalized quote from here.

So why the high prices, you ask? Well, the number one factor: hurricanes (and no, not the football team). Miami-Dade holds one of the highest risks in the state to experience impacts of a hurricane. To add insult to injury, statistically every six to eight years, a hurricane will pass within 50 miles of Miami. And since the majority of residences in the county are located within 20 miles of the ocean – and sit only 42 feet above sea level –homes in this are highly vulnerable to hurricanes.

The thing to know is that the price of your home’s insurance is based on a number of factors; square footage, property value, crime. Rates also vary widely throughout the county and even within a city.

How does your city measure up?

North Miami

On the east side, North Miami is home to some of the most prestigious cities in Miami: Aventura, Bal Harbour, and Miami Beach. It is also home to long stretches of oceanfront homes with miles and miles of white sand beaches.

Unfortunately, those luxuries can also come with a price.

On the west side, North Miami is comprised of predominately suburban neighborhoods such as Doral, Hialeah, and Kendall. But the area is making a new name for itself bringing new energy and life to the neighborhood with the new Doral CityPlace and Hialeah Park Casino.

Central Miami

Central Miami is a melting pot of suburban upscale and urban neighborhoods (isn’t this all South Florida?). Neighborhoods like Key Biscayne, Coral Gables, Pinecrest, and Palmetto Bay are immaculately filled with mansions and cars worth more than your life. So, it’s no wonder why the average in Dade county is so high.

South Miami

South Miami (Homestead and Florida City) first gained national attention in 1992 after receiving the hardest hit from Hurricane Andrew. Primarily made up of residential neighborhoods, the area is also home to a number of agricultural farms.

With every unique personality of a neighborhood comes an equally unique price for your home insurance. The good news, you don’t have to worry about paying more than you need to.

Ready to find the best rate for your home? Head over to HoneyQuote.com and compare prices from several insurers.

We help you make the tough decisions

Subscribe to our newsletter for weekly content and news on everything Florida insurance

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.