Insurance carriers calculate the cost of a home insurance policy by asking "how likely is it that something bad will happen?" The more likely it is that something bad will happen, the more expensive the home insurance policy will be, and vice versa. We call these potential disasters "risk." Let’s take a look at how risky Florida is compared to the rest of the US.
The crime rate in Florida is slightly higher than the national average. Homeowners should be aware of the risk and take steps to protect their property.
- Average number of burglaries per 1,000 homes in FL: 4.87
- Average number of burglaries per 1,000 homes in the U.S.: 4.69
Severe weather events are common in Florida, and can cause a lot of difficulties for local homeowners.
- Number of federally declared disasters since 1953: 122
- Most common cause of disasters in the state: Fire
- Average number of tornados in the state per year: 54.6
- Amount paid in home insurance claims in 2016: $3,456,451,000
- Average home value in FL: $197,700
- Average home value in the US: $188,900