Tampa, FL Home Insurance Quotes!

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Tampa is a wonderful place to call home, we have everything you need to lead the good life in the Sunshine State. Tampa has a lovely waterfront, world class restaurants as well as plenty of shopping that draws in both locals and tourists.

However, Tampa also comes with severe weather as well as hurricanes that can damage your home as well as push up the cost of homeowners insurance. Florida has some of the most expensive homeowner insurance premiums in the country but there are things you can do to keep your rates affordable.

Keep reading to learn everything you need to know about homeowners insurance in Tampa.

Is Homeowners Insurance Required in Tampa?

If you have a mortgage on your home, your lender will require that you carry homeowners insurance in order to protect their investment in your (technically their home until you pay it off) home. All lenders require homeowners to carry coverage.

If you own your home outright you can drop your homeowners coverage but this is almost always a bad idea. In the event your home is severely damaged or destroyed you will be on the hook to cover all repair or rebuilding costs. Unless you can easily afford to rebuild your home and replace all of your possessions, you should carry homeowners coverage.

It should be noted that waiting until a storm is on the way to purchase coverage is not an option in most markets, including Tampa. Once a storm has formed and within a certain distance of Florida or a hurricane is named, insurance companies will no longer sell or modify policies. It is always best to have coverage in place well before a storm is headed your way.

Coverages You Should Be Carrying in Tampa

While coverages will vary depending on your personal risk factors, most homeowners should be carrying these coverages to protect their home:

  • Dwelling coverage: This protects the structure of your home up to coverage limits. It will pay to repair or rebuild your home if it is damaged or destroyed by a covered peril.
  • Other Structures: This coverage is part of your dwelling coverage and protects other structures on your property such as barns, outbuildings and even sheds.
  • Personal Property: This will protect your personal property. It pays to replace your personal property that is damaged or destroyed by a covered peril. This can include things such as your clothing, jewelry, electronics, and even your furniture.
  • Loss of Use: If your home is damaged so badly that you cannot safely stay in it while repairs are being done, loss of use coverage will help cover expenses such as hotel and restaurant bills as well as other normal expenses you incur.
  • Personal Liability and Property Damage: This will help cover medical bills and legal expenses if someone is injured in your home. It covers a variety of injuries, including slip and falls inside or outside of your home. Property damage liability will pay to repair other people’s property if you or a member of your household cause the damage.

Flood and Sinkhole Insurance

Florida’s weather can leave residents at risk for flood damage which can eventually lead to sinkhole issues as well. In addition to severe storms causing flooding, Tampa has issues with tidal flooding. In 2017, areas of Tampa were under as much as four feet of water because of tidal flooding.

A standard homeowners policy excludes flood and sinkhole damage so if your home is at risk for either, you may need to carry additional coverages. Flood insurance can be purchased via the National Flood Insurance Program or through private insurers.

While flood insurance can be pricey, it can be a financial lifesaver if your home is damaged by flooding.

Sinkholes can also be an issue. Limestone is common in Florida, and it soaks up water that wears down the bedrock leaving an empty pocket that collapses as the weather dries up the water, leading to a sinkhole.

When it comes to sinkholes in Florida, insurers are required to offer sinkhole coverage but if your property is already experiencing sinkhole activity, your insurer may decline to offer coverage.

All Florida homeowners policies are required to offer Catastrophic Ground Cover Collapse coverage but this is not the same as sinkhole coverage which is sold as an additional coverage. In order for damage to be covered by catastrophic ground cover collapse it must mee these four specific conditions:

  • Sinking of the top layer of soil must occur abruptly
  • A depression in the ground cover must be clearly visible without the aid of instruments
  • There must be structural damage to the home, including the foundation itself
  • A government agency must condemn and evacuate the structure

If all of these conditions are not met, the damage will not be covered, and you will be on the hook to cover repair or rebuilding costs if you are not carrying sinkhole coverage.

Wind and Hurricane Damage Deductibles

In many parts of Florida (including Tampa) your homeowners insurance may require a separate wind and hurricane policy or you may simply have a different deductible for wind or hurricane damage.

A wind or hurricane deductible is often a percentage deductible. This means that your deductible for severe wind or hurricane damage is a percentage of your total dwelling coverage. As an example, if you are carrying $400,000 in coverage and have a 5 percent deductible, you will need to pay $20,000 as a deductible. Percentage deductibles typically range from 2 to 10 percent.

The year your home was built will also impact your premium. In Florida, stronger building codes went into effect in 2002 which requires builders to use stronger roofing materials as well as impact resistant windows. These improvements often lead to wind mitigation credits on your policy which can lower your insurance costs.

If your home was built prior to 2001 you may want to consider upgrading your home with wind mitigation materials to help lower your premium.

Cost of Homeowners Insurance in Tampa

While the cost of insurance can vary dramatically depending on where your home is located and your personal risk factors, the median cost of homeowners coverage in Tampa is roughly $2,100. While insurance can be expensive, if your home is severely damaged or destroyed you will be on the hook for all costs if you are not carrying insurance coverage. Unless you are independently wealthy, it is never a good idea to drop your homeowners coverage.

When determining how much coverage you need to carry your agent will look at the replacement cost of your home, any additional structures on your property as well as the value of your personal possessions.

Remember, the value of your home (purchase price) is not the amount of coverage you need to carry because the price of your home includes the land that it sits on. The rebuilding cost is what needs to be insured and this is usually less than the price of your home.

How to Choose an Insurance Company

When choosing an insurance company you should look for a reputable nationwide insurer that gets good reviews for both customer service and claim handling. Check with friends and family to see what insurer they use and always do your due diligence to make sure any insurance company you are considering is financially sound.

Compare Homeowners Insurance Rates in Tampa, FL!

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Get up to 12 competitive Tampa, FL homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Tampa, FL rates all in one place!

Our Service in Florida

You can feel confident that our experience, integrity and service will help you find the best insurance policy at a price you can afford. We work with a wide variety of insurers in Tampa, Florida and all of them are top rated "A+" by A.M. Best Rating and have been in business for several decades.

Just a few of the insurers we work include American Integrity Insurance Group, Anchor Insurance, ASI, Bankers Insurance Group, Centauri Insurance, Chubb, Edison Insurance Company, Florida Peninsula Insurance Company, Heritage Insurance, Lexington Insurance, Olympus Insurance, People's Trust Insurance Company, St. Johns Insurance Company and many more.

Average Rates Nearby Tampa

Are you looking for homeowners insurance in a city near Tampa? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Tampa, FL

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Tampa.

33602,     33603,     33604,     33605,     33606,     33607,     33609,     33610,     33611,     33612,     33613,     33614,     33615,     33616,     33617,     33618,     33619,     33620,     33621,     33624,     33625,     33626,     33629,     33634,     33635,     33637,     33647,     

Tampa, FL Home Insurance Average Premiums

Local Tampa, FL home insurance quotes comparison

$1372 /yr.

Shows Tampa's lowest average rates with discounts applied.

For the city of Tampa, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)
$1372 /yr.
Average Coverage:$1622 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1922 /yr.

What is the average home insurance cost for a home in Tampa, FL?

  • • The average homeowners insurance premium paid annually for a home in Tampa is around $1622 per year.

What does it cost on average per month for home insurance in Tampa, FL?

  • • Homeowners in Tampa pay an average cost per month around $135.00 for insurance coverage.

Tampa, FL Coastal Wind, Hail & Flood Information

Tampa is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood Zone Notice: The beautiful coastal city of Tampa is know for it's beautiful beaches and waterways. Because Hillsborough County (FIPS: 12057) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Tampa, FL.

Coastal Tampa, Florida Information: To obtain flood insurance coverage, the process usually takes more than 30 days to finalize, if you need flood insurance coverage now, please call us at 888-620-1954.
For more information about your area, please click Coastal Homeowners Insurance in Florida

Tampa, FL - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $386,395 $344,061
February $384,886 $353,120
March $385,172 $363,689
April $385,827 $373,652

Homeowners insurance will help cover the cost to repair or replace your Tampa home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

  • Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Tampa
  • Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
  • Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
  • Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
  • Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Enter your Zip Code:    

Get up to 12 competitive Tampa, FL homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Tampa, FL rates all in one place!

Saving Money Tips on Tampa Home Insurance

A great way to save money on Tampa homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

  • Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
  • Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
  • Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
  • Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Tampa area? Check out what homeowners are paying on average for Florida homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
28 ft. This is the average home elevation in Tampa, FL

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Tampa, Florida.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

To get online quotes on your home and compare rates on home insurance premiums in Tampa, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Hillsborough County.

Florida Homeowners Insurance News & Information

  • Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024

    A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase.  Currently, a Broward commissioner is asking Congress to pass legislation he claims […]

  • Florida Lawmakers May Allow Takeout Offers to Citizens’ Policyholders Posted on Wednesday 13th March, 2024

    Lawmakers in Florida are moving closer to allowing specific insurer types to make offers to policyholders currently with Citizen’s Property to insure their vacation or second home.  SB 1716 this week cleared the Senate’s Fiscal Policy Committee for the takeout offers after the Senate’s Banking and Insurance Committee approved the measure earlier this month.  This […]

  • Florida has 7 New Home Insurance Companies Entering the Market Posted on Friday 1st March, 2024

    Recently, Florida has seen seven new insurance companies enter the market for homeowners coverage. Currently, the average premium for homeowners coverage is $6,000 a year in the Sunshine state compared to a nationwide average of just $1,700 a year, according to the Insurance Information Institute.  The Insurance Information Institute is hopeful that the new insurance […]

  • What exactly is a FAIR Plan? Posted on Tuesday 2nd January, 2024

    If you live in an area where severe weather is common, or wildfires pop up every summer you may have trouble finding affordable home insurance coverage. If homes in your area are repeatedly damaged or destroyed by a covered peril, insurers may pull out of the entire area, refusing to write policies in your neighborhood. […]

  • Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023

    Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]

Tampa, FL Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Tampa so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Tampa, FL?

- The average square footage in Tampa is around 1,272 Sq. Ft. which would cost you around $212,392 to replace the home if you base the home on the price to build per square foot of $167.

Minimum Replacement Cost Total: $212,392

Location: Tampa, Florida (Hillsborough County)

Average Building Cost Per Square Foot in Tampa: $167 (low end)

Average Square Footage in Tampa: 1,272 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$167$212,392
Some Additional Upgrades$209$265,491
Major Home Updates or Advancements$251$318,589

The dwelling coverage is calculated by the average cost per square foot ($167) in Tampa, Florida times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $521,875 (Media price to build of $209 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.