Florida home insurance costs lead nation again

Better budget for more than sunscreen and bug spray. Florida once again has the nation’s costliest home insurance, a new report shows.

It is the only state with an average annual premium above $2,000.

That’s all the more reason for consumers to know more about their options in the updated The Palm Beach Post Property Insurance Guide, available today.

The state’s average annual premium of $2,055 soars above the national average of $1,132, according to the National Association of Insurance Commissioners January 2017 report.

Hermine was the first hurricane to make landfall in Florida in more than a decade.

Hermine was the first hurricane to make landfall in Florida in more than a decade.

Texas checks in at $1,947 and Louisiana averages $1,847 for a standard homeowner policy known as an HO-3.

The annual report takes a deep dive into data reported by state regulators, in this case from 2014.

It shows a familiar picture. Florida continues to the lead the country for the priciest home premiums, as it did in the previous year’s report.

Florida enjoyed an 11-year hiatus from hurricanes until 2016, but insurance industry officials say the state’s risk of catastrophic damage remains high, with 80 percent of the population living in coastal counties.

Most expensive home insurance
Average annual premium
Florida $2,055
Texas $1,947
Louisiana $1,847
U.S. average $1,132.
Source: National Association of Insurance Commissioners January 2017 report based on 2014 data

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See which companies have the strongest financial ratings and fewest complaints in the updated Palm Beach Post Property Insurance Guide:

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