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On average, home insurance in Tampa costs around $1,977 annually. It is lower than the state average rate of $2,200 and higher than the national average.
From the tranquil beaches to the lively city life, it will be exciting to settle down in Tampa. But there is always another side to these. Residents in the city have to bear with hurricanes, property theft, and sinkholes. So, as a homeowner, you’ll always be looking for affordable homeowners insurance in Tampa, FL, that covers your home extensively.
Don’t worry. We will help you to buy the best home insurance in Tampa!
Key Takeaways
- Tampa home insurance costs around $1,977 yearly on average.
- Insurers offer premiums starting at around 1,064 annually.
- Ensure to buy flood insurance to protect your home from flood damage.
Home insurance coverage options in Tampa
A home insurance policy offers many typical coverages. Other than that, you can also buy these to protect your home extensively.
- Flood insurance: Tropical storms are common in the city. So you may assume that your policy covers wind and flood damage automatically. But the truth is that home insurance policies don’t cover water damage, and insurance policies in Florida often exclude wind coverage. So, you must buy flood insurance additionally to protect your home from hurricane and flood damage. You can buy one via a private insurer or FEMA’s National Flood Insurance Program (NFIP).
- Sinkhole coverage: The residents are at a greater risk for damage since Hillsborough County is home to Florida’s infamous sinkhole alley. Florida house insurance policies cover ‘catastrophic ground cover collapse.’ But homeowners don’t always get protection against sinkhole damage by this coverage alone. So, you must buy a separate sinkhole coverage to guarantee comprehensive coverage against sinkholes. Be mindful that the policies can be very expensive.
The cheapest home insurance companies in Tampa
You’ll always want to buy the most affordable home insurance in Tampa. For that, it is always best to get quotes from all insurers, compare, and buy one. With an average annual rate of $1,064, Travelers offers the cheapest home insurance rates in Tampa. The following are the home insurance companies in Tampa, Florida, offering you the most affordable rates.
| Insurer | Average annual rate |
|---|---|
| Travelers | $1,064 |
| Nationwide | $1,170 |
| Allstate | $1,388 |
| ASI | $1,412 |
| Universal Property | $1,518 |
| Chubb | $1,677 |
| Heritage | $1,679 |
| Universal North America | $1,799 |
| State Farm | $1,855 |
| Citizens | $3,717 |
Tampa homeowners insurance prices by coverage level
The coverage you choose impacts the cost of Tampa homeowners insurance you pay. Having $100,000 in dwelling coverage in Tampa typically costs around $606. At the same time, buying extra coverage up to $400,000 typically costs $1,922.
| Dwelling coverage level | Average annual rate |
|---|---|
| $100,000 | $606 |
| $200,000 | $1,122 |
| $250,000 | $1,241 |
| $400,000 | $1,922 |
Tampa home insurance rates by ZIP code
Home insurance rates in Tampa differ by neighborhood. The area where you live could significantly impact how much you spend to insure your home. We found that the ZIP Codes 33603 (South Seminole Heights) and 33604 (Old Seminole Heights) have the cheapest home insurance rates with Tower Hill.
| ZIP Code | Insurer | Average annual rate |
|---|---|---|
| 33602 | Tower Hill | $1,454 |
| 33603 | Tower Hill | $1,238 |
| 33604 | Tower Hill | $1,238 |
| 33605 | Tower Hill | $1,454 |
| 33606 | Tower Hill | $1,302 |
| 33607 | Tower Hill | $1,302 |
| 33609 | Tower Hill | $1,302 |
| 33610 | Tower Hill | $1,465 |
| 33611 | Tower Hill | $1,302 |
| 33612 | Tower Hill | $1,465 |
| 33616 | Tower Hill | $1,414 |
| 33617 | Tower Hill | $1,285 |
| 33620 | Tower Hill | $1,285 |
| 33621 | Tower Hill | $1,414 |
| 33629 | Tower Hill | $1,454 |
| 33647 | Tower Hill | $1,465 |
Affordable home insurance areas in Tampa
With a yearly average rate of $2,510, the 33647 ZIP Code (Tampa Palms) has the most affordable home insurance rate in Tampa.
| ZIP Code | Average annual rate |
|---|---|
| 33647 | $2,510 |
| 33617 | $2,578 |
| 33609 | $2,598 |
| 33611 | $2,600 |
| 33606 | $2,602 |
Expensive home insurance areas in Tampa
With a yearly average rate of $2,666, the 33602 ZIP Code (Cultural Arts District) has the most expensive home insurance rate in Tampa.
| ZIP Code | Average annual rate |
|---|---|
| 33602 | $2,666 |
| 33605 | $2,654 |
| 33607 | $2,654 |
| 33610 | $2,653 |
| 33612 | $2,648 |
Cheapest home insurance companies in Tampa for newly constructed homes
The rate of home insurance in Tampa will be less if you own a new home. It is because insurers consider new homes less risky as they use new and damage-resistant materials for construction. So, there will be less probability of claims from the homeowner. With a yearly average rate of $648, ASI offers the cheapest home insurance in Tampa, FL, for a new home.
| Insurer | Average annual rate |
|---|---|
| ASI | $648 |
| Nationwide | $726 |
| Travelers | $914 |
| Universal Property | $1,091 |
| State Farm | $1,192 |
| Heritage | $1,206 |
| Allstate | $1,207 |
| Universal North America | $1,292 |
| Chubb | $1,364 |
| Citizens | $2,666 |
Cheapest home insurance companies in Tampa if you have a lot of personal property
Home insurance also covers damage to personal belongings kept at home. The rates increase when personal property coverage limits increase. With a yearly average rate of $1,182, Travelers offers the cheapest home insurance in Tampa for increased personal property coverage.
| Insurer | Average annual rate |
|---|---|
| Travelers | $1,182 |
| Nationwide | $1,414 |
| ASI | $1,543 |
| Allstate | $1,588 |
| Universal Property | $1,739 |
| Heritage | $1,924 |
| State Farm | $1,933 |
| Universal North America | $2,061 |
| Chubb | $2,146 |
| Citizens | $4,261 |
Cheapest home insurance companies in Tampa for high deductibles
Your deductible is a factor that considerably affects your Tampa home insurance rates. Having higher deductibles means you need to pay less premium. With a yearly average rate of $944, Travelers offers the cheapest home insurance in Tampa for high deductibles.
| Insurer | Average annual rate |
|---|---|
| Travelers | $944 |
| Nationwide | $991 |
| ASI | $1,161 |
| Universal Property | $1,331 |
| Allstate | $1,388 |
| Chubb | $1,407 |
| Heritage | $1,472 |
| State Farm | $1,554 |
| Universal North America | $1,577 |
| Citizens | $3,257 |
Home insurance companies in Tampa for dog owners
Some insurance companies may charge you more if they consider your dog breed as ‘dangerous.’ Tower Hill offers the most affordable home insurance rates in Tampa for a house with a dangerous dog breed, with an average rate of $1,365 yearly.
| Insurer | Average annual rate |
|---|---|
| Tower Hill | $1,365 |
| Universal Property | $1,961 |
| ASI | $2,056 |
| State Farm | $2,090 |
| Citizens | $7,370 |
Home insurance companies in Tampa for pool owners
Your home insurance in Tampa will cost more if your home has a swimming pool. As pool owners are more likely to file liability claims due to injuries, they frequently pay higher premiums. Tower Hill has the lowest home insurance rates for Tampa homes with pools, costing an average of $1,365 yearly.
| Insurer | Average annual rate |
|---|---|
| Tower Hill | $1,365 |
| Universal Property | $1,961 |
| ASI | $2,031 |
| State Farm | $2,090 |
| Citizens | $7,370 |
Home and auto insurance bundling in Tampa
How can you save money on your Tampa homeowners insurance? One way is to bundle by buying home and auto insurance from the same insurer. With a yearly average rate of $1,064, Travelers offers the cheapest insurance rates in Tampa for homeowners with bad credit.
| Insurer | Average annual rate |
|---|---|
| USAA | $957 |
| State Farm | $1,605 |
| Allstate | $2,478 |
| Progressive | $2,719 |
Cheapest home insurance companies in Tampa if you have poor credit
Insurance companies will check your credit score while providing homeowners insurance in Tampa, FL. So, expect your premiums to surge if you have a bad credit score.
| Insurer | Average annual rate |
|---|---|
| Travelers | $1,064 |
| Nationwide | $1,170 |
| Allstate | $1,388 |
| Universal Property | $1,518 |
| Heritage | $1,679 |
| ASI | $2,303 |
| Universal North America | $2,980 |
| Chubb | $2,985 |
| Citizens | $3,717 |
| State Farm | $3,980 |
Home insurance discounts in Tampa
How else can you lower Tampa home insurance rates? You can use the discounts provided by your insurer. The following is the typical discount that you can find in the city.
- Bundling or multi-policy: Purchasing your home and auto insurance policies from the same insurer can help you save money on homeowners insurance in Tampa, Florida. Some insurers will provide a discount if you combine your home insurance with umbrella insurance or another type of policy.
Getting online homeowners insurance quotes in Tampa
Obtaining home insurance rates in Tampa is simple. However, you must have the following info to get Tampa home insurance rates.
- The replacement cost of your home: To obtain adequate home insurance coverage, you must first determine the cost of rebuilding your home. Skilled builders and construction professionals can provide you with an immediate quote
- The value of your personal property: You must calculate the value of your personal belongings for the insurer to calculate how much personal property coverage you need.
- Information about your house: Insurers will also need specific information about your property, like the construction date, size, and number of security systems installed, among others.
- Personal information: Always have your info, like your address, birth date, and SSN, on hand. Insurers may inquire about your previous insurance history and who resides on your property.
How to buy homeowners insurance in Tampa
Because of the increasingly severe extreme around the Gulf Coast, home insurance in Tampa can be costly. Here are a few tips to save money while buying a policy.
- Reach out to a licensed Way agent: Our agents will help you choose the right insurance for your home.
- Ask about the FAIR plan: Our agents can help you with Florida’s FAIR plan as an alternative to regular coverage if many traditional insurers deny you coverage.
- Buying flood insurance: Whether you reside in a flood zone or not, you require flood insurance to protect your home from possible water damage.
- Fix the deductible: Decide how high a deductible you can afford if you are unlikely to file several insurance claims. The bigger your deductible, the lower your premiums will be.
- Compare quotes from a Way agent: Our agents can help you get quotes from all the insurers in your area. So it is worthwhile to shop around and get multiple quotes to determine which company provides the best coverage and price for your needs.
- Sign the policy and pay your initial premium: Once you’ve decided on the ideal insurance policy, our agents will help you with the necessary paperwork. After that, you must sign the policy and pay your first premium. Our agents can even cancel your previous coverage for you.
Bottomline
The cost of home insurance in Tampa is lower than Florida’s average rate. To get an even cheaper policy, you must get quotes from all the insurers, compare, and buy one with the lowest rate. Using discounts can lower the rate further. Buying flood insurance to protect your home from flood damage is also advisable.
FAQs
How much is home insurance a month in Tampa?
Home insurance in Tampa costs around $165 a month.
What is the average cost of homeowners insurance in Tampa?
Tampa homeowners insurance costs around $1,977 annually.
What is the cheapest homeowners insurance company in Tampa?
Our research found that Travelers is the cheapest insurer in the city, with an average annual rate of $1,064.
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