Why Florida is different
Florida has the highest hurricane risk in the US, plus large areas with flood exposure. That makes insurers charge much higher premiums than in most other states, and several large national insurers have reduced or withdrawn from the state in recent years, leaving the market more concentrated among regional carriers.
The practical result: annual insurance on a Southeast Florida property can end up as high as property tax itself, or even higher — something that surprises most buyers coming from markets where insurance is a minor expense.
What drives the price up
Year built and roof type: older properties or roofs that don't meet the latest wind codes pay much more — sometimes insurance drops sharply after a roof replacement.
Distance to the coast and FEMA flood zone: two properties a few blocks apart can have very different premiums if one is in a designated flood zone and the other isn't.
If it's a condo: the building has its own master policy covering the structure; as an individual owner you only need a smaller HO-6 policy for your unit's interior and liability — much cheaper than insuring an entire house.
How to get a proper quote
Never close on a purchase based only on a generic estimate: get a real quote with the exact address from a Florida-licensed insurance agent before signing the purchase contract, or at least before the inspection period expires.
Ask specifically for a 'wind mitigation inspection' — a report documenting the property's wind-resistance features (roof, windows, structural connections) that can lower the premium significantly if the property qualifies.