Best Key West Homeowners Insurance Quotes (2025)

State Farm and Nationwide offer the best and most affordable homeowners insurance policies in Key West.

Jamie Johnson
Written byJamie Johnson
Jamie Johnson
Jamie Johnson
  • 6 years experience in personal finance writing

  • Featured on Credit Karma and Insider

Jamie is a meticulous researcher who has published 2,000+ personal finance articles. Her expertise is trusted by major brands like Bankrate and Rocket Mortgage.

Featured in

media logomedia logomedia logo
Sara Getman
Edited bySara Getman
Sara Getman
Sara GetmanAssociate Editor

Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.

Outside of work, Sara is an avid reader, and loves rock climbing, yoga, and crocheting.

Updated

Save up to $1,025 by comparing quotes from the top 120+ insurance companies

Excellent
Secure. Free. Easy-to-use.
ProgressiveLiberty MutualAllstate
Advertiser Disclosure

At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.

We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.

Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

The average cost of home insurance in Key West is $22,715 annually for a $300,000 policy with a $1,000 deductible, making it one of the most expensive areas in the country for coverage. The small island of Key West is vulnerable to hurricanes, flooding, and wind damage due to its location off the Florida coast. Key West also has high property values, with a median sales price of $1.14 million.

Despite all these challenges, it’s still possible to find affordable coverage in Key West. Here’s what you need to know about Key West home insurance.

Quick Facts
  • Home insurance in Key West is more expensive than the state and national averages.

  • A $300,000 policy with a $500 deductible costs $22,855 per year in Key West.

  • Due to a high risk of flooding, mortgage lenders may require Key West homeowners to purchase additional flood insurance.

Best home insurance companies in Key West

Though some insurers have left or reduced their coverage in Florida, many reputable home insurance companies still exist in Key West. The best insurance company for you will depend on your home’s value and any risk factors you face.

Here are some great options to help you get started.

Best company for bundling policies: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.2/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
643
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$421/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$588/mo

State Farm is the best company for Key West homeowners who want to save money by bundling their policies. The insurer offers competitive discounts for bundling your home and auto insurance together, and you could save up to 20% by taking advantage of a multi-vehicle discount. Plus, State Farm has a strong presence in Florida, making accessing customer support easier after a storm.

Pros
  • Extensive network of more than 19,000 agents

  • Above-average J.D. Power score for customer satisfaction

Cons
  • Fewer discounts than some of its competitors

  • Doesn’t offer as many customized policy options

Best company for veterans: Armed Forces Insurance

Key West has a significant military history and is home to Naval Air Station Key West. Veterans and active military members living in Key West may want to consider Armed Forces Insurance. The insurer tailors homeowners insurance to service members and their unique needs, like deployment or frequent relocations.

Pros
  • Offers a hurricane mitigation discount for Florida residents

  • Offers flood coverage

Cons
  • Access is limited to military members, veterans, and their families

  • Doesn’t offer as many discounts as larger insurers

Best company for customized coverage: Nationwide

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
641
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$604/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$955/mo

Nationwide is the best company for Key West homeowners looking to customize their homeowners policy. The insurer offers several unique coverage options, so you can create a policy that fits your needs. For example, you can take advantage of roof replacement coverage, brand-new belongings coverage, and ordinance coverage.

Pros
  • Offers a wide variety of discounts

  • Above-average J.D. Power score for customer satisfaction

Cons
  • Can’t purchase a policy online

  • Flood insurance not available

  • Our editorial team analyzed regional and national home insurance companies that sell policies in Key West to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.

Cheapest home insurance companies in Key West

Homeowners insurance is expensive in Key West, making it even more important to shop around and compare quotes from different insurers. State Farm is the cheapest company overall, with an average annual rate of $6,597. Here are some other affordable insurers in Key West.

Insurance Company
sort ascsort desc
Average Annual Premium
sort ascsort desc
State Farm$6,597
Nationwide$6,876
Security First Insurance$11,583
Armed Forces Insurance Exchange$12,417
American Integrity Insurance of Florida$14,278
Heritage Insurance Holdings$18,058

Find Home Insurance in Key West

Check quotes from 100+ top insurance companies

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

How much is home insurance in Key West?

On average, home insurance in Key West costs $22,715 annually for a $300,000 policy with a $1,000 deductible, making it significantly higher than both the state and national averages. These high rates are due to the area’s extreme weather risks. Key West’s coastal location and island nature put it at risk for hurricanes, windstorms, and flood exposure.[1]

Plus, many of the homes in Key West are older, especially in the Old Town area, which is a designated historic district. Older homes are often more expensive to insure because their outdated systems and materials make them more vulnerable to extreme weather.

Cost of home insurance by dwelling coverage in Florida

Your dwelling coverage applies to the physical structure of your home, and you need to carry coverage for at least 80% of the value of your home. Higher coverage amounts will increase your premiums because your insurance company is taking on more financial risk. 

For example, if you purchase a $500,000 policy, your insurer will have to pay out significantly more following a claim than for someone with a $100,000 policy. The following table shows what Florida homeowners pay based on their coverage amount.

Coverage Limit
sort ascsort desc
Average Annual Premium
sort ascsort desc
$100,000$4,142
$200,000$7,848
$300,000$10,675
$400,000$14,140
$500,000$17,473

Cost of homeowners insurance by deductible amount

A deductible is the amount you pay out of pocket after filing a claim before your home insurance coverage kicks in. Choosing a lower deductible means you’ll pay less out of pocket, but your monthly premiums will be higher. A higher deductible increases your out-of-pocket costs, which will help you save on your monthly insurance premiums.[2]

The table below shows how your deductible affects your annual premium in Key West.

Deductible Amount
sort ascsort desc
Average Annual Premium
sort ascsort desc
$500$22,855
$1,000$22,715

Average cost of home insurance in other cities in Florida

Home insurance costs can vary between Florida cities and even different ZIP codes within that city. For example, rates may be higher in areas with higher crime rates, hurricane exposure, or a history of flooding.

The table below shows how rates fluctuate between different Florida cities.

City
sort ascsort desc
Average Annual Premium
sort ascsort desc
Cape Coral$8,961
Fort Lauderdale$17,112
Hialeah$18,365
Hollywood$14,464
Jacksonville$4,245
Key West$22,715
Miami$17,208
Naples$9,319
Orlando$5,960
Pensacola$5,577
Port St. Lucie$13,157
Tallahassee$3,307
Tampa$6,440
Sarasota$6,826
The Villages$4,499
West Palm Beach$14,388

Compare Key West Home Insurance Quotes

Insurify partners with top insurers for real-time quotes

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

What to know about owning a home in Key West

Owning a home in Key West comes with several unique considerations: 

  • illustration card https://a.storyblok.com/f/162273/150x150/b045612c49/house-rental-96x96-orange_045-value.svg

    Property values

    High property values in the area affect home insurance premiums significantly since the rebuild costs are much higher.

  • illustration card https://a.storyblok.com/f/162273/x/68ed522f01/windstorm-and-hail.svg

    Severe weather events

    Key West is also vulnerable to severe weather events, like hurricanes, tropical storms, and wind damage. Wind insurance and hurricane insurance are typically part of a standard homeowners policy, but you may need to pay out a separate hurricane deductible.

  • illustration card https://a.storyblok.com/f/162273/100x100/4ec24627d2/flood-coverage.svg

    Flooding

    Flooding is another major risk, especially in coastal areas. Standard home insurance policies don’t cover flood damage, so homeowners need a separate flood insurance policy. You can purchase this coverage through the National Flood Insurance Program (NFIP), which is managed by FEMA. It’s important to check whether your home is in a flood zone so you can understand the underlying risk.[3]

Key West home insurance FAQs

Here’s some additional information you should know about Key West homeowners insurance.

  • The average monthly cost of home insurance in Key West is $1,893. If you live in an area that’s at risk for flooding, you may need to purchase a separate flood insurance policy.

  • State Farm is the cheapest insurer in Key West, with an average annual premium of $6,597. But that doesn’t mean State Farm will be the cheapest company for you, so it’s important to shop around and compare quotes from several insurers.

  • The 80% rule in homeowners insurance states that you must insure your home for at least 80% of its replacement cost. If you insure it for less than 80%, you may receive a reduced payout on any claims you file.

  • In Florida, a $500,000 home insurance policy costs $17,473 annually. But your exact costs will vary depending on your home, ZIP code, and individual coverage needs.

  • In Florida, the average property tax rate is 0.79%. But property taxes are a county-level tax, so the rates depend on which county you live in.[4]

Sources

  1. Weather.gov. "All About Hurricanes."
  2. III. "Understanding your insurance deductibles."
  3. FEMA. "Flood Insurance."
  4. AARP. "Florida State Taxes: What You’ll Pay in 2025."
Jamie Johnson
Jamie Johnson

Jamie Johnson is a Kansas City-based personal finance writer whose work has been featured on several of the top finance and business sites in the country, including Insider, Credit Karma, Bankrate, Rocket Mortgage, Fox Business, Quicken Loans, and The Balance. For the past six years, she's dedicated more than 10,000 hours of research and writing to more than 2,000 articles about personal finance topics.

Jamie has been a contributor at Insurify since October 2022.

Sara Getman
Edited bySara GetmanAssociate Editor
Sara Getman
Sara GetmanAssociate Editor

Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.

Outside of work, Sara is an avid reader, and loves rock climbing, yoga, and crocheting.

Compare Home Insurance Quotes Instantly

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate