Home Insurance in Orlando, Florida: What You Should Know
Orlando is famous for its theme parks and tourist attractions, but homeowners in the area also face specific challenges, including hurricanes, flooding, and thunderstorms. Here’s what you need to know about home insurance in Orlando.
National vs. Orlando Home Insurance Costs
The national average cost for home insurance is $1,400 per year, while Orlando homeowners pay an average of $1,900 per year. The moderate risks in Orlando—compared to more coastal areas—keep premiums somewhat lower.
Home Insurance Rates by Home Age in Orlando
Home Age
Average Annual Premium
0-10 years
$1,800
10-20 years
$1,850
20-30 years
$1,900
30+ years
$2,000
Home Insurance Rates by Credit Tier in Orlando
Here’s a breakdown of how credit scores affect home insurance premiums in Orlando:
Excellent Credit (750+): $1,800/year
Good Credit (700-749): $1,900/year
Fair Credit (650-699): $2,100/year
Poor Credit (Below 650): $2,300/year
Cheapest Home Insurance Providers in Orlando
Here are some of the most affordable home insurance providers in Orlando, along with their average annual premiums:
State Farm: $1,850/year
Allstate: $1,900/year
Liberty Mutual: $1,920/year
Progressive: $1,950/year
USAA: $1,800/year (available for military families)
Home Insurance Rates by Deductible in Orlando
Choosing the right deductible can significantly impact your annual premiums. Here’s how the premium varies with different deductible amounts:
$500 Deductible: $2,100/year
$1,000 Deductible: $1,900/year
$2,000 Deductible: $1,750/year
$5,000 Deductible: $1,600/year
Types of Homeowners Insurance in Orlando
Orlando homeowners have access to various types of homeowners insurance policies:
HO-3 (Special Form): The most popular policy, covering the home and personal property against most risks.
HO-5 (Comprehensive Form): Provides broader coverage and is suitable for high-value homes and personal property.
HO-6 (Condo Insurance): Tailored for condo owners, covering interior structures and personal belongings.
HO-8 (Older Home Insurance): Designed for historic or older homes that may not meet modern construction standards.
Additional Coverage Options in Orlando
Given the weather-related risks in Orlando, homeowners should consider the following additional coverages:
Flood Insurance: While Orlando is inland, it is still susceptible to heavy rains and potential flooding, making flood insurance a wise consideration.
Hurricane Insurance: Protects against the high winds and storm damage often caused by hurricanes, which can impact the area during hurricane season.
Sinkhole Insurance: Florida is prone to sinkholes, especially in central regions like Orlando. Sinkhole insurance can provide additional protection for these risks.
Comparing Orlando to Other Florida Cities
Miami: Homeowners in Miami pay significantly more, around $3,600/year, due to the higher risks of hurricanes and floods.
Tampa: Tampa homeowners pay around $2,400/year, slightly more than Orlando due to its coastal risks. Learn more about home insurance in Tampa.
Frequently Asked Questions (FAQ) for Orlando Homeowners
Q: Does homeowners insurance in Orlando cover hurricane damage?
A: Standard homeowners insurance covers wind damage caused by hurricanes, but flood damage from storm surges requires separate flood insurance.
Q: Can I lower my premium by installing storm shutters or upgrading my roof?
A: Yes, many insurers offer discounts for wind mitigation features such as hurricane shutters, impact-resistant windows, or fortified roofing systems.
Q: Do I need sinkhole insurance in Orlando?
A: While not all homeowners need sinkhole insurance, it’s highly recommended for those living in areas prone to sinkhole activity, such as central Florida.
Final Thoughts on Home Insurance in Orlando
Orlando offers slightly lower home insurance premiums compared to Florida’s coastal cities, but the area’s susceptibility to hurricanes, sinkholes, and heavy rainfall means homeowners should carefully consider their coverage options. By comparing providers, adjusting deductibles, and considering additional coverages like flood or sinkhole insurance, homeowners in Orlando can ensure they are adequately protected.