Tampa, FL Homeowners Insurance

Close to 400,000 people live in beautiful Tampa, Florida. If you are among the proud property owners in this coastal city, you will want to be sure to protect the investment you have made in your house by purchasing a suitable homeowners insurance policy.

Independent insurance agents can help you find the best and most affordable policy for your Tampa home. Find an independent insurance agent near you to get answers to your coverage-related questions and to start comparing a selection of customized homeowners insurance quotes from competing providers.

How Much Does Homeowners Insurance Cost in Tampa, FL?

The average cost of homeowners insurance in the state of Florida is higher than the national rate; and in Tampa, it is even higher. That is why it is important to shop around to find the best price.

• National average yearly premium: $1,211
• Florida average yearly premium: $1,951
• Tampa average yearly premium: $2,118

Keep in mind, however, that an average can only give you a general idea of what you might actually be expected to pay. For instance, the average cost of home insurance in Sunset Park is likely to be much higher than the average rate in the more affordable Forest Hills neighborhood.

When calculating your rates, insurance companies will take several factors into consideration such as the following:

• The age, size, and value of your house
• The type of home you are insuring (e.g., single-family detached, condo, townhouse, mobile home, rental property, vacation house, etc.)
• The crime rate and weather risks in your ZIP code
• Your claims history and credit score
• Whether you are bundling your coverage with other policies like car insurance or boat insurance

Every insurance company has its own formula for computing rates, so premiums are likely to vary from one provider to the next.

Comparing quotes from multiple companies lets you choose the policy that offers the coverage you want at the most affordable price. Independent agents make comparison shopping easy.

What Kinds of Damaging Events Are Covered by Tampa Home Insurance?

Your homeowners insurance is designed to cover you against most of the damaging hazards you are likely to face as a homeowner in Tampa. It can compensate you for the cost of repairing or replacing your property if it's lost or damaged by a covered event.

Unless you have purchased a named-peril policy, which would require you to name the specific types of hazards you want coverage against, you can expect your homeowners insurance to cover the following risks.

• Severe weather, including hurricanes, tropical storms, tornadoes, windstorms, thunderstorms, and lightning strikes
• Falling objects, like hailstones, branches, and uprooted trees
• Fires, including accidental fires, brush fires, and wildfires
• Property crimes, including burglary and vandalism

Homeowners property insurance includes coverage for the structure of your house (this is called dwelling insurance) and coverage for your personal belongings (this is called contents insurance).

You will want to be sure that your coverage limits are high enough in each category so you can fully repair, rebuild, or replace all of your property if it is destroyed in a major disaster like a fire.

What about Coverage against Floods in Tampa?

As a resident of Tampa, it is important to be aware that homeowners insurance does not cover flood damage. Unfortunately, floods pose a significant risk in many parts of this coastal city.

A recent analysis found that nearly 50,000 properties, which makes up more than one-third of the homes and business in Tampa, have a greater than 26% chance of sustaining significant flood damage over the next 30 years.

Floods can be very expensive for area homeowners. According to FEMA, as little as one inch of rainwater in your home can cause as much as $25,000 worth of property damage. It may therefore be to your advantage to supplement your home insurance with a flood insurance policy.

Affordable policies are available through the National Flood Insurance Program (NFIP), a program administered by FEMA. These policies take 30 days to go into effect, so do not wait until a storm is brewing in the Gulf to buy your coverage.

Save on Home Insurance

Our independent agents shop around to find you the best coverage.

Request a Quote

What Is Loss of Use Insurance?

Tampa has a very high risk of tornado activity. The Tampa area experiences an average of five tornadoes a year. While most of the twisters that touch down in this area are rated F0, they can still be quite damaging to homes in their paths.

If a covered disaster like a tornado or an accidental structure fire significantly damages your home, it may render it unsafe to live in it until repairs are made. If this happens to you, the loss of use insurance included in your Tampa homeowners insurance policy can help.

Homeowners loss of use insurance can cover the various costs associated with obtaining temporary shelter. It can pay for things like:

• Temporary accommodations in a hotel or short-term rental unit
• Meals, if your accommodations do not include a kitchen
• Moving costs and storage fees
• Mileage reimbursement if you must drive further to get to work
• Pet boarding costs, if applicable

Your loss of use coverage can continue until your house is brought back up to code and it is safe to return, or until you have purchased a different home to move into, which may be necessary if you experience a total loss.

Why Is Liability Insurance Important for Tampa Homeowners?

Homeowners insurance also includes a significant amount of personal liability coverage as a standard part of every policy. This can shield you from large financial losses if you or someone in your household unintentionally cause someone else to sustain injuries, property damage or other harm.

If you are sued for a covered event, your homeowners liability insurance can cover expenses like legal fees, court costs, mediation costs, settlements and judgements. Covered events include things like the following:

• Injuries sustained by visitors on your property
• Injuries caused by you, your children, or your pets while away from home
• Property damage experienced by others that can be attributed to negligence on your part
• Accusations of libel or slander

According to the Insurance Information Institute (III), dog bites are the most common reason that homeowners use their liability coverage. Believe it or not, the average cost of a dog bite liability claim is greater than $50,000.

Most insurance companies offer between $100,000 and $300,000 in homeowners liability coverage. If you want to have more coverage than your policy can offer, you can also purchase an umbrella insurance policy. This is an affordable way to boost all of your personal liability coverage.

Does Tampa Homeowners Insurance Cover against Burglaries?

The burglary rate in Florida is lower than the national rate. And in Tampa, the rate is even lower. This is not to say that the risk does not exist. Residents of this city report more than 1,000 burglaries a year.

• Number of burglaries per 1,000 people in the US: 3.76
• Number of burglaries per 1,000 people in Florida: 3.38
• Number of burglaries per 1,000 people in Tampa: 2.55

If your house is targeted by burglars, you may find it comforting to know that your homeowners insurance can reimburse you for your property losses as well as for any damage that may have been done to your home. You will need to have a copy of the police report when you file your claim.

In many cases, if your home is equipped with a burglar alarm or other theft-deterring device, insurance companies will offer discounted homeowners insurance rates.

Why Work with an Independent Insurance Agent?

Independent insurance agents make it easy to find the best and most affordable coverage for your home.

Because they are independent, these agents can request customized quotes from some of the best insurance companies in Tampa, FL. That way, you can choose the policy that offers the lowest price for the coverage you want.

Discover the many advantages of having an independent agent on your side. Schedule an obligation-free consultation with an independent insurance agent near you to get started.