Positioned in an inlet on Florida’s west coast, Tampa’s otherwise idyllic location can be troublesome for residents as hurricanes from the Gulf of Mexico drive up the price of homeowners insurance.
The average cost of homeowners insurance in Tampa is $2,606 per year or $217 a month. While this is only around 1% lower than the statewide average of $2,643 per year, it’s about 37% higher than the national average of $1,899.
However, cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Tampa.
Best homeowners insurance companies in Tampa
Of the companies we evaluated, Tower Hill has the lowest rate, with an average yearly cost of $1,353 — almost half the average rate in Tampa — while Citizens' average yearly rate of $7,358 is the most expensive.
Customer service should also be a priority when shopping for home insurance, and State Farm shines in that area, scoring high ratings for customer satisfaction and claims with J.D. Power.
Policygenius analyzed thousands of quotes from the 5 largest Tampa insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Tampa residents to find the best homeowners insurance in Tampa.
Universal Property is a Florida-based insurance company that provides a relatively standard, but solid home insurance policy. It's an especially good option if you have lots of animals on your property thanks to its special animal liability coverage.
Covers homes that are generally more difficult to insure
Excellent coverage add-ons, such as replacement cost contents, water backup, equipment breakdown, and service line coverage
Special animal liability coverage available in case your dog or another animal on your property injures someone
Customer reviews complain of a poor claims experience
Doesn't offer increased dwelling coverage
Minimal discount opportunities
Why Universal Property tops our best list
Universal Property offers discounts for adding extra safety features to your home to protect against hurricanes and windstorms. By making your house more secure, you are reducing the likelihood of having to submit a claim after a storm. This means, in addition to saving you money on home insurance premiums, Universal Property is also helping you avoid costly insurance claims.
How to get a quote
Online through Universal Property
Citizens Insurance offers basic home and wind-only insurance coverage for homes in high-risk coastal areas of Florida. If you're having a difficult time finding a company to insure your home, Citizens is a decent last-resort option.
Provides homeowners insurance to high-risk homes that are often denied coverage by private insurers
Offers wind-only policies
Sets up catastrophe response centers after natural disasters to offer in-person support to homeowners without power or means of communication
File claims over the phone or online 24/7/365
Low customer complaint ratings in 2020
Rates are around 15% higher than the state average
Limited additional coverage options
Why Citizens tops our best list
When a hurricane or tropical storm brings down power lines and cuts off internet connections, you can rely on Citizens’ catastrophe response centers. These mobile centers are set up in areas hit by natural disasters within 48 to 72 hours, or once it’s safe to be on the roads, and Citizens can file and process claims and issue checks on the spot.
How to get a quote
Contact a Citizens Insurance agent through their website
There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.
Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage
Get up to $1 million in personal liability coverage
Score discounts for bundling, installing security devices, and choosing a high deductible
File and track claims online, over the phone, in person, or through its mobile app
High customer satisfaction and financial strength ratings
No discounts for first-time homebuyers or going a year without a claim
Why State Farm tops our best list
State Farm is a great option for customers who value quality service at a competitive price. Along with State Farm’s high ratings for customer service and claim satisfaction, the company also offers copious resources for new homeowners, including tips on moving, using a real estate agent, and applying for a mortgage.
How to get a quote
Online through State Farm
Tower Hill stands out thanks to its robust flood insurance options and contractor network program that makes repairing your home after a natural disaster as seamless as possible.
Offers 3 flood insurance options, including a private flood endorsement and standalone policy
Contractor network program for easy repairs that come with a 5-year warranty for workmanship
Lower-than-average customer complaints according to the NAIC
Little information about discounts or coverage options available online
Why Tower Hill tops our best list
Tampa residents in floodplains will benefit from Tower Hill’s multiple levels of flood insurance, including a private flood endorsement that can be added onto your homeowners policy with no minimum deductible requirement and no waiting period. With hurricanes becoming more prevalent and sea levels rising, flooding is a normal occurrence in Tampa, making flood insurance a priority whether you’re currently in a flood zone or not.
How to get a quote
Online through Policygenius or Tower Hill
ASI Progressive offers robust home insurance coverage and ways to save. Our fave perk? Its bundling discount, which lets you save up to 20% on premiums and only requires you to pay one deductible if your home and car are damaged in the same event.
Policies are backed by Progressive Insurance
Flood insurance coverage add-on available — a rarity among insurers
Save up to 20% when you bundle your home and auto insurance
Score discounts for owning a new home, signing up for e-bills, paying your premiums in full for the year, and more
Only pay one deductible if your home and car are damaged in the same incident and you bundle your home and auto insurance together
File and track claims online
Below-average claims satisfaction ratings
Minimal information about coverage add-ons available online
Why ASI Progressive tops our best list
ASI Progressive offers insurance policies for seasonal or investment properties, which is perfect for anyone who owns a second home in the Tampa area. With an a la carte approach, you can save money on your insurance by eliminating costs that don’t pertain to your vacation home policy.
How to get a quote
Online through Policygenius or ASI Progressive
Cheapest homeowners insurance companies by ZIP code in Tampa
Looking at average home insurance costs for 15 of the most popular companies in Tampa, we found that the cheapest home insurance in the city can be found in the 33603 ZIP code (South Seminole Heights) and the 33604 ZIP code (Old Seminole Heights), both with Tower Hill. The average Tower Hill rate in these areas is $1,226 per year — $1,380 less than the city average of $2,606 per year.
Tower Hill has the lowest rates in all ZIP codes in Tampa, making it the cheapest home insurance in the city.
The most affordable areas for homeowners insurance in Tampa
With an average home insurance rate of $2,498 per year, the 33647 ZIP code (Tampa Palms), is the most affordable area for home insurance in Tampa.
The majority of homes in this area were built in the 2000s and are further from the coast, making them less expensive to insure.
The most expensive areas for homeowners insurance in Tampa
With an average home insurance rate of $2,654, the 33602 ZIP code (Cultural Arts District) is the most expensive area for home insurance in Tampa.
Since Downtown Tampa is located closer to the bay, it is more likely to see flooding and damage from hurricanes and severe storms.
Shopping for homeowners insurance in Tampa
Residents shopping for homeowners insurance in Tampa will want to consider the unpredictable weather and natural disasters that can impact the area once hurricane season rolls around.
High winds and flooding can amount to thousands of dollars in repairs, and having sufficient amounts of home and flood insurance will ensure you have enough to cover even the most expensive disasters.
In this section, we break down the average annual home insurance rates in Tampa for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Tampa.
Tampa home insurance costs by coverage amounts
Dwelling coverage is the part of your home insurance that pays to rebuild or repair your house after a covered loss. The amount of coverage in your policy should be based on your home’s replacement cost — not its market value or the price you originally paid.
In Tampa, you’ll pay around $997 per year for a policy with $100,000 in dwelling coverage, but that number jumps to $4,312 if you have around $500,000 in coverage.
Liability coverage covers medical bills and expenses if you are responsible for someone else’s injury. Your amount of liability coverage should be based on the total value of your assets, including your home, vehicles, and liquid assets.
While higher coverage usually means a higher rate, liability insurance in Tampa is not likely to increase the cost of your premium a whole lot. If you find liability coverage doesn’t add to your premium, you should opt for the highest amount available.
Tampa home insurance costs by deductible amount
Your home insurance deductible is the amount you’re responsible for paying before your insurer covers the remainder of your claim.
A high deductible means lower home insurance rates, but it also means you’ll have to pay out of pocket every time you file a claim for a covered loss. Tampa gets major storms threats every year, so be careful not to set your deductible to an amount you can’t afford.
As seen in the table below, Tampa residents can save around $1,194 on home insurance by choosing a $2,000 deductible over the $500 option.
Home insurance discounts in Tampa
Insurance companies will often apply discounts to your policy when you make your home more secure. By installing burglar alarms, smoke detectors, and deadbolt locks, you are making your house safer, and you’re also decreasing the chances of an expensive insurance claim.
While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Tampa with deadbolts, smoke alarms, or burglar alarms.
Home insurance companies in Tampa for dog owners
If you own a dog breed that’s considered aggressive, you may see high rates with some insurance companies. Insurers consider certain breeds, like pit bulls and German shepherds, to be a liability risk since they’re more likely to bite or attack another person.
With an average rate of $1,353 per year, Tower Hill has the cheapest home insurance rates in Tampa for a home with a dangerous dog breed, while Citizens’ average yearly premium of $7,358 is the highest.
Home insurance companies in Tampa for poor credit
While insurance companies will often check your credit score to determine how risky you are to insure, not all insurers charge higher rates to customers with poor credit. If you think your rate might be high due to a low credit score, you should shop around to see if there’s a cheaper option available.
With an average rate of $1,949 per year, Universal Property has the cheapest home insurance rates in Tampa for a homeowner with poor credit, while Citizens’ average yearly premium of $7,358 is the highest.
Home insurance companies in Tampa for pool owners
Pool owners will often pay more for home insurance as they are more likely to file liability claims due to injuries. If you have a pool, it can be beneficial to shop around, as not all insurers will charge more.
With an average rate of $1,353 per year, Tower Hill has the cheapest home insurance rates for Tampa homes that have a swimming pool, while Citizens' average yearly premium of $7,358 is the most expensive.
How to buy homeowners insurance in Tampa
Home insurance in Tampa can be expensive due to increasingly severe weather along the Gulf Coast. Here are some steps you can take to save money while shopping for homeowners insurance:
Reach out to a licensed Policygenius agent. Our agents are here to help answer your questions and assist you in finding the best policy for your home, all at no cost to you.
Ask about Florida’s FAIR plan. If you’ve been turned down by multiple traditional insurance companies due to factors that make you a high risk to insure, our agents can discuss Florida’s FAIR plan as an alternative to traditional coverage.
Consider purchasing flood insurance. Whether or not you live in a flood zone, flood insurance can be imperative in protecting your house from potential water damage in Tampa.
Figure out how much you can afford to pay for your deductible. If you are unlikely to file multiple insurance claims, determine how high of a deductible you can afford. The higher your deductible, the lower your premium will be.
Compare quotes from a Policygenius agent. Since there are many factors that go into determining your insurance rate, it's worth shopping around and getting multiple quotes to see which company offers the best coverage and price for your situation. Comparing home insurance with Policygenius is the most effective way to save on coverage.
Choose your policy, sign it, and pay your first premium. Once you’ve determined which insurance policy is best for you, our agents can prepare the required paperwork for your signature, so all you need to do is pay your first premium. We can even cancel your old policy on your behalf.
Frequently asked questions
How can I lower the cost of homeowners insurance?
Most home insurance companies offer discounts for bundling your home and auto insurance, paying your premium at one time, choosing paperless billing, and more. Check with your insurance company to see how you can save on home insurance.
Who offers the best home insurance in Tampa?
Tower Hill has the lowest home insurance rate in Tampa, with an average yearly cost of $1,353, but the best insurance policy is the one that provides great coverage at the best value.
Why do pools, treehouses, and trampolines affect my home insurance rate?
These items are considered high risks for liability claims, due to an increased likelihood of injury, and will sometimes result in higher home insurance rates.
What can I do to improve my low credit score?
You can improve your credit by paying your bills on time, eliminating debt, and paying off your credit card. If poor credit is affecting your home insurance rate, try shopping around for cheaper options.
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.