Known for its scenic beaches and waterways, Fort Lauderdale, Florida, has faced major issues with storm surges, high winds, and inland flooding.1 The city is prone to hurricanes; in 2017, Hurricane Irma caused tens of billions in damage.2

As a result, homeowners insurance in Fort Lauderdale tends to be quite expensive. On average, homeowners pay $17,112 per year — about 60% higher than the state average. Plus, homeowners will likely need to purchase separate flood insurance policies, too, as standard homeowners insurance policies don’t cover flood damage.

Best home insurance companies in Fort Lauderdale

Residents of Fort Lauderdale have several insurers to choose from. As you begin your search, consider these insurers that could be a top choice based on your unique needs.

Best for hurricane-prone properties: Citizens Property Insurance

Best for cheaper rates: State Farm

Best for high-value homes: Chubb

Cheapest home insurance companies in Fort Lauderdale

Homeowners insurance policies vary in cost. In general, State Farm has the lowest rates in Fort Lauderdale. But the cheapest home insurance company for you will depend on your unique risk factors. That’s why it’s important to compare quotes from multiple insurers before choosing your next policy.

Here are the average rates available from several Fort Lauderdale-area insurers. All average rates are for $300,000 in dwelling coverage with a $1,000 deductible.

How much is home insurance in Fort Lauderdale?

On average, a homeowners insurance policy in Fort Lauderdale costs $17,112 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. Your premiums may vary based on the following factors:

Cost of home insurance by dwelling coverage in Florida

Along with Florida’s higher risk of storm damage, the median home price of properties in the Sunshine State is higher than the national median. With higher home values come higher rates for dwelling or structure coverage. As your coverage limit increases, so will your annual premiums.

Here, you can see how the dwelling coverage limit you choose affects your average annual premium in Florida.

Cost of homeowners insurance by deductible amount

The homeowners insurance deductible is how much you have to pay for property damage or losses before your insurance company will provide coverage. A higher deductible means you’ll have a higher out-of-pocket cost if you have to file a claim, but your premiums will be lower, as you’re taking on more of the up-front risk yourself.

In Fort Lauderdale, raising your deductible from $500 to $1,000 will reduce your premiums by about $100 per year, as you can see below.

Average cost of home insurance in other cities in Florida

Homeowners insurance rates are partially based on your ZIP code, risk class, and home value. For example, properties near one of Fort Lauderdale’s waterways will usually be pricier to insure than properties further inland.

Other cities in Florida that are further from the coast or have lower property values will have lower average premiums.

Here, you can see average premiums for different cities in Florida.

What to know about owning a home in Fort Lauderdale

If you live in Fort Lauderdale, getting a homeowners insurance policy can be a significant investment, but it’s a critical one. Although premiums tend to be high, properties within the city are at an increased risk of damage from storms and hurricanes, so having adequate coverage is crucial.

While homeowners insurance provides protection against hurricane-related damage, such as wrecked roofs or windows, standard homeowners insurance policies don’t include flood damage. As a result, you’ll likely need to purchase a separate flood insurance policy from the National Flood Insurance Program or a private insurer.