Most people think that it is only your home value that determines your homeowner’s insurance premium in Florida. Well, that’s true but it is ONE of the factors, and many other factors influence your homeowner premium cost. To help you better understand, we have listed five essential factors that each insurance company in Florida look at when determining a quote for your cheap homeowner’s insurance.

1. Your Location:

Yes – location, location, location matters. It may play the biggest role in determining your premium cost. Let’s dissect how your location affects your homeowner’s premium rates.

  • Where your beautiful home is located? Is it near to fire department? Obviously, the more your home is close to the fire hydrant or a water source, the quicker the response time you will get if fire takes place, and lower will be the chances of a total loss resulting from an event.
  • Does your neighborhood have frequent break-ins or history of frequent claims?
  • If your home is surrounded by brush or woods, or other hazardous items, it may increase the likelihood of a loss and increases your homeowner’s insurance premium in Florida.

2. Home Characteristics:

The features of your home determine your insurance premium cost you need to carry to rebuild your home in the event of a natural or man-made disaster. However, the following related factors also contribute towards homeowners insurance premium in Florida.

  • Age of your home: How old your house is? Older homes cost more as compared to new homes.
  • Structure type: Premium cost differs for brick homes and wooden homes. Usually, brick homes are less susceptible to losses occur due to wind/hail and cost less to insure.
  • The size of home – Yes, size also matters. It’s obvious; larger homes will cost more to rebuild/replace and cost more to insure.


3. The Condition Of Your Home Roof:

“The condition of the roof affects your homeowner’s policy. New/newer roofs will typically see a reduced premium, while homes with older roofs will pay more,” Herndon explains. “Anytime you make a home improvement, especially replacing or repairing a roof, you should talk to your insurance agent to be sure you’re covered and realizing any savings that may come along with the improvement.”

“If you have a new roof, you’re not going to have roof losses,” Ruiz explains. “A newer roof is preferable.”

4. Higher Deductible:

“The more that a consumer can afford to pay out of pocket, the more money they will save,” says Fitzgerald, Senior Assistant Vice President, Amica Insurance Company.

5. Claims History:

The more claims you’ve had filed in the past 3-5 years, the higher your homeowners insurance premium in Florida become. Many insurance companies will either refuse to insure your property or may charge a higher premium rate as they consider you to be a higher risk client.

6. Protective Devices:

Your homeowners insurance premium in Florida may get lower if smoke detectors, burglar alarm systems, sprinkler systems, fire extinguishers, and deadbolt locks are installed in your home.

7. Home Improvements:

When making home improvements or major renovation, it’s good to talk to your insurance agent to get enough insurance coverage and discounts.

8. Bundle Your Insurance Policies

It’s completely in your control. If you want to bundle your auto, life insurance policies with homeowners policy, it’s an excellent way to get a discount on your homeowners insurance premium in Florida.

9. Bottom line

Several other factors can also lower your homeowners insurance premium in Florida. It’s best to contact the Diverse Insurance Group at to discuss your risk and exposure and to reduce your premium rate accordingly.

Do explore our areas of ‘Homeowners Insurance Policy’ which includes Condo insurance, Landlord rental property insurance, Renters apartment insurance, Homeowners insurance and High-value insurance.

Click here to read more about How To Reduce Your Homeowners Insurance Costs in Florida