UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:           811-21180               

                         BlackRock Florida Insured Municipal Income Trust                         
(Exact name of registrant as specified in charter)

 

                    100 Bellevue Parkway, Wilmington, DE                                     19809                
(Address of principal executive offices) 
(Zip code) 

Robert S. Kapito, President
BlackRock Florida Insured Municipal Income Trust
40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)

Registrant's telephone number, including area code:           888-825-2257               

Date of fiscal year end:           August 31, 2006               

Date of reporting period:           May 31, 2006               

Item 1. Schedule of Investments.
The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS (unaudited)
MAY 31, 2006

BlackRock Florida Insured Municipal Income Trust (BAF)

  Principal          
    Amount       Option Call  
Rating1       (000)            Description   Provisions2   Value
      LONG-TERM INVESTMENTS—156.0%        
        Florida—148.6%        
        Brd. of Ed.        
AAA   $ 9,000       GO, Ser. A, 5.00%, 6/01/27, FSA   06/12 @ 101   $  9,310,860  
AAA   8,640 3     Lottery RB, Ser. C, 5.00%, 1/01/22, MBIA   01/13 @ 101   9,004,435  
        Capital Trust Agcy. Multi-Fam. RB, American Oppty. Proj.,        
Baa2   1,000       Ser. A, 5.875%, 6/01/38   06/13 @ 102   951,170  
Ba1   980       Ser. C, 7.25%, 6/01/38   06/13 @ 102   929,814  
NR   3,835   Colonial Cntry. Club Cmnty. Dev. Dist. SA, 6.40%, 5/01/33   05/13 @ 101   4,053,633  
AAA   7,000   Dept. of Transp. GO, 5.00%, 7/01/27, FSA   07/12 @ 101   7,201,250  
AAA   8,695   Gainesville Util. Sys. RB, Ser. A, 5.00%, 10/01/33, FSA   10/13 @ 100   8,930,374  
A+   8,500 3 Highlands Cnty. Hlth. Facs. Auth. RB, Hosp. Adventist/Sunbelt Proj., Ser. A, 6.00%, 11/15/11   N/A   9,472,060  
AAA   7,580   Hillsborough Cnty. Sch. Brd. COP, Ser. A, 5.00%, 7/01/25, MBIA   07/10 @ 100   7,800,805  
        Jacksonville RB,        
AAA   2,865       Cap. Impvt., Ser. A, 5.00%, 10/01/30, AMBAC   10/12 @ 100   2,930,236  
AAA   8,000       Excise Tax, Ser. B, 5.00%, 10/01/26, AMBAC   10/12 @ 100   8,261,920  
AAA   9,500       Sales Tax, 5.00%, 10/01/27, MBIA   10/13 @ 100   9,834,875  
AAA   9,500       Transp., 5.00%, 10/01/31, MBIA   10/11 @ 100   9,726,480  
AAA   2,000   JEA Wtr. & Swr. Sys. RB, Ser. A, 4.75%, 10/01/41, MBIA   04/11 @ 100   1,972,880  
AAA   1,480   Julington Creek Plantation Cmnty. Dev. SA, 5.00%, 5/01/29, MBIA   05/12 @ 101   1,526,102  
AAA   9,000   Lake Cnty. Sch. Brd. COP, Ser. A, 5.00%, 7/01/28, AMBAC   07/13 @ 100   9,264,240  
        Miami Dade Cnty. RB,        
AAA   10,000       Ser. A, Zero Coupon, 10/01/39, MBIA   10/15 @ 28.762   1,761,200  
AAA   10,000       Ser. A, Zero Coupon, 10/01/40, MBIA   10/15 @ 27.307   1,671,800  
AAA   26,935       Ser. B, Zero Coupon, 10/01/31, MBIA   04/08 @ 28.079   6,800,280  
        Orange Cnty.,        
AAA   7,975       Sales Tax RB, Ser. B, 5.125%, 1/01/32, FGIC   01/13 @ 100   8,283,154  
AAA   2,000       Sch. Brd. COP, Ser. A, 5.00%, 8/01/27, MBIA   08/12 @ 100   2,056,380  
AAA   9,250       Tourist Dev. Tax RB, 5.125%, 10/01/30, AMBAC   04/12 @ 100   9,633,968  
AAA   4,000   Osceola Cnty. Sch. Brd. COP, Ser. A, 5.25%, 6/01/27, AMBAC   06/12 @ 101   4,222,320  
        Palm Bay Util. RB,        
AAA   4,015       Zero Coupon, 10/01/28, FGIC   No Opt. Call   1,330,370  
AAA   5,570       Zero Coupon, 10/01/31, FGIC   No Opt. Call   1,567,621  
AAA   9,200   Palm Beach Cnty. Sch. Brd. COP, Ser. D, 5.00%, 8/01/28, FSA   08/12 @ 100   9,444,352  
AA-   5,000 4 Pinellas Cnty. Hlth. Fac. Auth. RB, Baycare Hlth. Sys. Proj., 5.50%, 5/15/13   N/A   5,469,750  
AAA   9,500   Pinellas Cnty. Swr. RB, 5.00%, 10/01/32, FSA   10/13 @ 100   9,763,055  
AAA   5,000   Polk Cnty. Util. Sys. RB, 5.00%, 10/01/29, FGIC   10/13 @ 100   5,154,150  
AAA   825 4 Port St. Lucie Util. RB, 5.125%, 9/01/11, MBIA   N/A   875,630  
AAA   2,945   Sarasota Cnty. Util. Sys. RB, Ser. C, 5.25%, 10/01/22, FGIC   10/12 @ 100   3,116,635  
AAA   3,500   St. Petersburg Pub. Util. RB, Ser. A, 5.00%, 10/01/28, FSA   10/09 @ 101   3,581,620  
AAA   1,000   Tohopekaliga Wtr. Auth. RB, Ser. B, 5.00%, 10/01/23, FSA   10/13 @ 100   1,038,420  
NR5   4,070   Vlg. Cmnty. Dev. Dist. No. 5, SA, Ser. A, 6.50%, 5/01/33   05/13 @ 101   4,324,904  
AAA   13,500   Vlg. Ctr. Cmnty. Dev. Dist. RB, Ser. A, 5.00%, 11/01/32, MBIA   11/13 @ 101   13,777,965  
                195,044,708  
        Puerto Rico—7.4%        
BBB   9,405   Children’s Trust Fund Tobacco Settlement RB, 5.625%, 5/15/43   05/12 @ 100   9,653,104  
        Total Long-Term Investments (cost $198,305,132)      
204,697,812
  

1

BlackRock Florida Insured Municipal Income Trust (BAF) (continued)

         
Shares        
(000)   Description   Value  
    MONEY MARKET FUND—0.3%      
450   AIM Tax Free Investment Co. Cash Reserve Portfolio (cost $450,000)   $   450,000  
    Total Investments—156.3% (cost $198,755,1326)   $ 205,147,812  
    Other assets in excess of liabilities—1.6%   2,101,779  
    Preferred shares at redemption value, including dividends payable—(57.9)%   (76,014,366)  
             Net Assets Applicable to Common Shareholders—100%   $ 131,235,225  

1   Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch’s rating.  
2   Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.  
3   Security pledged as collateral.  
4   This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.  
5   Security is deemed to be of investment grade quality by the investment advisor.  
6   Cost for Federal income tax purposes is $198,755,063. The net unrealized appreciation on a tax basis is $6,392,749, consisting of $6,495,227 gross unrealized appreciation and $102,478 gross unrealized depreciation.  
    The value (market value plus accrued interest) of securities that are covered by insurance, which ensures the payment of principal and interest, represent approximately 83.1% of the Trust’s managed assets.  

AMBAC — 16.8%
FGIC — 9.5%
FSA — 24.1%
MBIA — 32.5%
Other

KEY TO ABBREVIATIONS

AMBAC — American Municipal Bond Assurance Corp. GO — General Obligation
COP — Certificate of Participation MBIA — Municipal Bond Insurance Assoc.
FGIC — Financial Guaranty Insurance Co. RB — Revenue Bond
FSA — Financial Security Assurance SA — Special Assessment
           
 

2

Item 2. Controls and Procedures.
(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.
Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)                BlackRock Florida Insured Municipal Income Trust               

By:       /s/   Henry Gabbay                
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: July 26, 2006

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:       /s/   Robert S. Kapito                
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: July 26, 2006

By:       /s/   Henry Gabbay                
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: July 26, 2006