Average cost of Homeowners Insurance in Florida

25 Jan, 2019

average cost of homeowners insurance in Florida

Florida is the most expensive state for home insurance. Its average rate is $3575, which is nearly $2350 more than the national average of $1228 for the coverage level of: $200000 dwelling coverage.

About Florida :

Florida is the south-easternmost U.S. state, with the Atlantic on one side and the Gulf of Mexico on the other. It has hundreds of miles of beaches. The city of Miami is known for its Latin-American cultural influences and notable arts scene, as well as its nightlife, especially in upscale South Beach. Orlando is famed for theme parks, including Walt Disney World.

Florida is the 22nd-most extensive (65,755 sq mi or 170,300 km2), the 3rd-most populous (21,312,211 inhabitants), and the 8th-most densely populated (384.3/sq mi or 148.4/km2) of the U.S. states. Jacksonville is the most populous municipality in the state and the largest city by area in the contiguous United States. The Miami metropolitan area is Florida's most populous urban area. Tallahassee is the state's capital.

Economy :

Florida's $1.0 trillion economy is the fourth largest in the United States. If it were a country, Florida would be the 16th largest economy in the world, and the 58th most populous as of 2018. In 2017, Florida's per capita personal income was $47,684, ranking 26th in the nation.

The unemployment rate in September 2018 was 3.5% and ranked as the 18th in the United States. Florida exports nearly $55 billion in goods made in the state, the 8th highest among all states.

Metropolitan Area :

The Miami Metropolitan Area is by far the largest urban economy in Florida and the 12th largest in the United States with a GDP of $344.9 billion as of 2017. This is more than twice the number of the next metro area, the Tampa Bay Area, which has a GDP of $145.3 billion. Florida is home to 51 of the world's billionaires with most of them residing in South Florida.