Orlando is a thriving metropolis in Florida and an affordable one, too, with the average cost of homeowners insurance for a $250K dwelling costing about $1,230 per year. There are 60,969 owner-occupied Orlando properties, accounting for 55% of all properties. There’s more than just Disney World to see, and home prices are on the rise, contributing to inventory shortages with a 12% increase from 2020 to 2021 for an average home price of $285,000. By April 2021, that value increased to $295,000.
You will need home insurance to protect your family, regardless of whether you’re buying a home new or staying in an existing home. These are the best cheap homeowners insurance companies in Orlando for 2021 based on average rates.
The best Orlando home insurance companies
To find the best home insurance companies in Orlando, we consider factors like policy offerings, price, discounts, availability and customer service.
Travelers
Travelers policies offer loss of use coverage in addition to standard home insurance coverage. Additional coverage options include special personal property, contents replacement, additional replacement protection, water backup and sump pump, identity fraud and green home coverage. You can also get coverage for valuable items like jewelry and valuables with an optional personal item floater. You may be eligible for discounts if you have multiple policies or are a homebuyer.
Progressive
Progressive provides homeowners with basic home insurance protections, including loss-of-use coverage and the option of water back up or personal injury protection. You may be eligible for discounts if you combine home and auto insurance. You can also get discounts on new construction or alarm systems. Progressive has its own network contractors who may be able offer discounted pricing to customers who use their services.
All over the country
If you need broad coverage, Nationwide is a great choice. You have the option of coverage for ordinance or law insurance, loss-of-use, credit card coverage, and Brand New Belongings(r), which replaces items based upon their current value and not the price you paid years ago. You can also choose to add coverage for identity theft, valuables and water backup, as well as earthquake insurance. If you need pet insurance, Nationwide offers that, too.
Allstate
Allstate provides unique coverage options, including protection for your equipment, green improvements reimbursement, yard and garden, and electronic data recovery. If you bring your work home, your business property can be covered by Allstate. Allstate offers both manufactured and mobile home insurance. If you require Airbnb insurance, Allstate also offers the HostAdvantage(r). You can save money by getting discounts for EasyPay and Responsible payments, as well as savings if you’re not a claim-free customer. Customers are also rewarded with loyalty and welcome discounts. Plus, you can get additional savings if you renew your policy earlier.
State Farm
Standard State Farm home insurance covers jewelry and collectibles as well as home and garden coverage. You also have protection against random acts and natural disasters, which makes it a comprehensive homeowners insurance policy for Orlando homes. State Farm also offers insurance for manufactured houses, as well as farm and ranch insurance. To help you save money, there is the option for higher deductibles with bundle, home security and roofing discounts.
Orlando insurance options
Homeowners insurance is not required by law, but experts still recommend it for every homeowner. Many people cannot afford to replace their home if there is a total loss. Orlando homeowners can choose from a variety of homeowners insurance options.
- Flood insuranceFlood insurance is not usually covered by standard home insurance policies. You can either get coverage directly from your insurance provider or through the National Flood Insurance Program.
- Hurricane insuranceFlorida is a region that lies between the Gulf of Mexico, the Atlantic Ocean and hurricanes. Windstorm coverage is essential. Hurricanes and high winds can cause damage to Orlando.Florida windstorm insurance.
- FireFires at home can cause irreparable damage to your home and personal belongings.WildfiresYou may not always be covered by an add-on policy.
Orlando home insurance discount
There are many home insurance companies that offer discounts and savings programs to help homeowners in Orlando save money on their home insurance. Ask your provider before you buy a new policy for home insurance.
- Individual discountsMany companies offer discounts to their customers.Seniors, active military personnel and veteransMembers of certain organizations.
- Loyalty DiscountsInsurance companies often offer loyalty discounts to long-standing members.
- Bundle discountsAdditional savings may be available if you have multiple policies from the same provider such as your insurance policy.Car insuranceOrLife insurance.
- Payment discountsUsing payment discounts such as an advance quote and payment discounts is a great way to save money on insurance.
The Sunshine State is a hotbed of new construction, with many people moving to Florida every day. Many insurance companies offer additional discounts for homeowners who purchase a newly built home. This is because the chance of having to file a claim on your policy is very low. If you plan to rent your home out, some companies offer home-sharing insurance.
Questions frequently asked
Which is the best company for home insurance?
It all depends on what type of home you own and what your needs are for your home.
What is the cost of Orlando home insurance?
The average cost of home insurance in Orlando is $1,230 per year for $250K dwelling coverage. Your location, your credit score, and the type of coverage you select will all affect how much you pay for home insurance.
What amount of home insurance do you need in Orlando
Although home insurance is not required in Orlando by law, your lender may require you to purchase minimum coverage to meet your mortgage terms. Home insurance is a great investment because it protects your home as well as all your belongings in case of an unthinkable event.
