Florida homeowners, we feel your pain.
The cost of homeowners insurance in the state is the second highest in the nation, according to Bankrate. The average premium of a policy with $300,000 in dwelling coverage is about $5,527 in Florida. That’s more than double the national average of $2,304.
Severe weather has continued to drive rising rates across the country. Midwestern states also tend to rank highly due to the potential of tornadoes causing widespread damage. If you’re looking to escape high rates, look north: Vermont, New Hampshire and Delaware had the lowest premiums in the nation (all less than $1,000 annually).