Florida’s insurance crisis: Premiums up 43% since 2018, Miami-Dade ranks second highest

Like the rising price of gas and groceries, it probably doesn't come as too much of a surprise to learn that Florida has the highest average annual homeowner insurance premium in the United States.

The recently released research by Las Vegas-based personal injury law firm H&P Law analyzed annual homeowner insurance premium data across all 50 states between 2017 and 2021 from the Insurance Information Institute.

The average homeowner insurance premium measured represents the total annual cost in dollars for standard coverage.

Florida leads the nation with an average annual homeowner insurance premium of $2,100, which is 73% higher than the national average of $1,213. From 2017 to 2021, the Sunshine State recorded the highest average premium at $2,437 in 2021, while 2017 saw its lowest at $1,951.

"This elevated premium is often influenced by risk factors, including severe weather events, natural disasters, property values, and state insurance regulations," a company spokesperson said. "When insurance costs rise, homeowners face increased financial burdens on top of their mortgage payments.

"To reduce insurance costs, homeowners can consider bundling policies, improving home security, raising deductibles, and shopping around for competitive rates."

In the past couple of years, Florida Gov. Ron DeSantis helped lead the way in passing insurance market reforms and enhancing consumer protection to keep those rates at bay and, in some cases, even at lower costs.

Louisiana, Texas, Oklahoma and Texas rounded out the top five stats with the highest homeowner insurance.

Other, more current, studies that take into consideration such extras as windstorm protection, inflation, and higher replacement values, also have Florida ranked among the top states for highest insurance, but at a much more cost.

For example, a May 2025 Bankrate.com study shows Florida ranked No. 2 behind Texas, with an average annual premium of around $5,409 for a $300,000 home.

A story in September 2024 by Yahoo! Finance, using a Realtor.Com study, showed Florida led the nation a year ago with homeowners paying $4,000 or more annually, on average. In fact, 20% of all homeowners were paying $4,000 or more in 2023.

Even more concerning for property owners, rates increased a startling 43.2% in Florida between 2018 and 2023, according to S&P Global data.

And, if you're wondering which Florida counties have the highest insurance rates, you need not look far.

According to the Florida Office of Insurance Regulation, 2023 numbers showed Monroe County (Including the Keys) led the way with an average of $7,162, while Miami-Dade was second at $5,391 for single-family homes.

Condo owners in Miami-Dade fared better with an average annual policy rate of $2,440.