Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.
Outside of work, Sara is an avid reader, and loves rock climbing, yoga and crocheting.
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Florida’s homeowners insurance market has faced some turbulence in recent years. Many homeowners find it increasingly difficult to get coverage for their homes, much less at an affordable rate. Fortunately, Tampa residents still have options.
Travelers, Security First Insurance, and American Integrity Insurance of Florida are the cheapest home insurance companies in the city. These companies offer home insurance at a significantly lower rate than the average cost of home insurance in Tampa, which is $6,066 per year for a $300,000 policy with a $1,000 deductible.
It’s important to compare all your options, so keep reading to learn more about the best companies for homeowners insurance in Tampa, Florida.
Quick Facts
Tampa’s weather risks, like hurricanes and the high likelihood of flooding, may require homeowners to purchase flood insurance.
On average, home insurance in Tampa costs $6,104 yearly for a $300,000 policy with a $500 deductible.
A high population density and Florida’s precarious insurance market contribute to Tampa’s high home insurance costs.
Best home insurance companies in Tampa
Although some home insurance companies no longer provide new policies in Florida, many quality insurers still serve homeowners in Tampa. The right policy for you won’t be the same as your neighbor’s, so it’s important to evaluate your individual situation to find the best home insurance company for you.
The table below shows the best companies for home insurance in Tampa and their premiums with a $300,000 policy.
Insurance Company
▲▼
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
▲▼
Average Annual Premium
▲▼
Best For
▲▼
Travelers
3.9
$1,402
Cheapest rates
Nationwide
4.2
$2,740
Flood insurance
Security First Insurance
N/A
$2,089
Senior homeowners
Armed Forces Insurance Exchange
N/A
$3,982
Military personnel
Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.0/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
829
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$117/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$215/mo
While Tampa homeowners experience lower rates than Florida’s state average, their rates are higher than the U.S. average. If you’re struggling to find a policy in your budget, consider Travelers insurance, with rates 77% cheaper than the city average. Travelers also offers discounts, such as bundling home and auto, new homeowners, and a green home discount.
Pros
Multiple coverage options, including renters and condo insurance
Superior financial strength ratings from AM Best[1]
Cons
Limited discount opportunities compared to other companies
A lot of negative customer reviews on the Better Business Bureau (BBB) website[2]
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.7/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
815
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$228/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$375/mo
Flood insurance isn’t traditionally part of standard home insurance policies. If your home is one of the 55,289 properties at risk of flooding in Tampa City, having flood insurance is crucial.[3] Nationwide’s Private Client flood insurance is an excellent option because of its comprehensive offerings.
Pros
Higher coverage limits than a policy with the National Flood Insurance Program (NFIP)
Offers additional living expense coverage
Cons
Not the highest J.D. Power customer satisfaction ratings[4]
No 24/7 customer service
Best insurer for senior homeowners: Security First Insurance
Security First Insurance, based in Florida, offers unique policy discounts. People 65 years and older account for 13.4% of Tampa residents, according to the U.S. Census Bureau.[5] If you’re 55 or older, you can snag a senior discount on your Security First Insurance policy.
Pros
Coverage offerings catered to Florida residents
Wide array of discounts
Cons
No home and auto bundling discount
No financial stability rating from AM Best
Best insurer for military personnel: Armed Forces Insurance Exchange
MacDill Air Force Base in Tampa Bay employs more than 15,000 military and civilian personnel.[6] If you ’re an active-duty military member, veteran, or family member of one, look into home insurance by Armed Forces Insurance Exchange for coverage that aligns with your unique needs.
The cheapest homeowners insurance company in Tampa is Travelers, offering coverage at $1,402 per year, or $117 per month. The table below illustrates the average annual premium for several popular insurance companies in Tampa.
Insurance Company
▲▼
Average Annual Premium
▲▼
Travelers
$1,402
Security First Insurance
$2,089
American Integrity Insurance of Florida
$2,289
Nationwide
$2,740
Florida Peninsula
$3,037
People’s Trust
$3,067
ASI
$3,113
Armed Forces Insurance Exchange
$3,982
Bankers Insurance Group
$4,117
Heritage Insurance Holdings
$4,263
State Farm
$4,276
Chubb
$4,679
HCI Group
$5,225
Southern Fidelity
$5,379
Tower Hill Group
$5,513
Cost of homeowners insurance in Tampa
The average cost of homeowners insurance in Tampa is $6,085 per year. But the cost of your policy depends on your home’s age, value, and location. For example, an older home with a higher replacement cost in a high-risk area will likely have increased home insurance premiums.
Cost of homeowners insurance by dwelling coverage amount
Many different types of homeowners insurance coverage are available. Homeowners typically focus on basic (HO-1), broad (HO-2), and special (HO-3) form coverage; these policies cover common perils that can damage your dwelling (such as your home’s foundation and structure). The more it costs to replace your dwelling, the more coverage you require, leading to higher premiums.
Here’s the average annual cost of home insurance for varying coverage limits in Florida.
Coverage Limit
▲▼
Average Annual Premium
▲▼
$100,000
$4,235
$200,000
$8,064
$300,000
$10,996
$400,000
$14,709
$500,000
$18,186
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Cost of homeowners insurance by deductible
A deductible is the amount you must pay before your insurance company pays out your home insurance claim. Choosing a lower deductible leads to higher premiums, and a higher deductible means lower premiums. While a higher deductible may save you money month to month, you should be financially able to pay out the deductible in case of a claim.
Take a look at the annual cost of a policy for different deductible amounts on a $300,000 policy in Tampa.
Deductible Amount
▲ ▼
Average Annual Premium
▲▼
$1,000
$6,066
$500
$6,104
How to get cheap homeowners insurance in Tampa
With rising prices in Tampa, finding affordable home insurance can be challenging. Fortunately, you have ways to score cheaper rates on your coverage:
Compare quotes
Different companies offer different insurance rates. Shopping around once a year using an online quote-comparison tool can help you find the coverage you need at the best deal.
Look for discounts
Home insurance discounts can save you 25% or more on your policy. Discounts are available for bundling policies, installing home safety features, and being claims-free.
Increase your deductible
Opting for a higher deductible on your policy lowers your annual or monthly premiums. But higher deductibles mean higher out-of-pocket costs. Be sure you can pay your deductible before deciding on the amount.
Raise your credit
Insurers in Florida look at your credit history to determine your likelihood of filing a claim. Improving your credit can help lower rates.
Bundle your home and auto
Bundling your home and auto policies leads to savings on both. Some insurance companies also let you bundle your homeowners policy with a life insurance policy or other insurance products.
Florida homeowners insurance rates by city
Different cities and ZIP codes within a city yield different home insurance quotes. Natural disasters, a high population density, and increased insurance fraud activity make homes in Tampa particularly risky to insure.[8] As a result, homeowners in this area will likely pay higher insurance costs.
Take a look at the table below for the average annual premium of a $300,000 policy in various cities in Florida.
City
▲▼
Average Annual Premium
▲▼
Fort Lauderdale
$15,877
Jacksonville
$3,971
Miami
$16,823
Orlando
$5,710
West Palm Beach
$13,359
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How much homeowners insurance do you need in Tampa?
The state of Florida doesn’t require you to carry homeowners insurance. But if you have a mortgage on your house, your lender will likely require you to purchase an insurance policy. Carrying homeowners insurance is still a good idea even if you’ve paid off your loan.
The amount you need in homeowners insurance depends on your home’s replacement value, the value of your personal belongings, assets, and additional living needs, according to the Insurance Information Institute.
Good to Know
Before purchasing a policy, you should understand what your home insurance policy covers. An insurance agent can work with you to determine a coverage amount that fits your needs.
What are some of the biggest risks when owning a home in Tampa?
Owning a home in Tampa poses several risks.
Wind
One of the glaring risks is wind damage from hurricanes, tornadoes, and tropical storms. All properties in Tampa are vulnerable to severe wind exposure in the next 30 years, according to the First Street Foundation, a nonprofit that provides data on climate risk in the housing market.[9][10] Fortunately, standard homeowners insurance policies cover wind events.
Floods
Flooding is also a major concern in the Tampa area, with 45.5% of all properties at risk of flooding, according to First Street.[3] A standard policy doesn’t cover water damage from flooding, so you must purchase separate flood insurance through the National Flood Insurance Program (NFIP) or a private insurer. Supplementing your policy with flood insurance will likely raise your homeowners insurance cost but could save you money if you have to submit a claim.
Wildfires
Wildfires pose a moderate risk to homes in Tampa. First Street cites 18,591 properties, about 15%, as being at risk of wildfire exposure in the next 30 years.[11] Fortunately, standard homeowners policies cover fire damage.
Tampa homeowners insurance FAQs
Buying home insurance in Tampa can be difficult and expensive. Here’s some additional information to help guide your search.
How much is home insurance in Tampa?
Home insurance in Tampa costs an average of $6,066 annually for a policy with a $1,000 deductible. With a $500 deductible, homeowners pay an average of $6,104 annually for coverage.
Tampa homes are particularly vulnerable to flooding, with 45.5% of homes at risk.[3] Flooding isn’t included in standard home insurance, so homeowners in these areas should consider purchasing a separate flood insurance policy.
Which company has the cheapest homeowners insurance in Tampa?
Travelers, Security First Insurance, and American Integrity Insurance of Florida offer the cheapest rates for home insurance in Tampa. For a $300,000 policy, their annual rates average $1,402, $2,089, and $2,289, respectively.
Does Tampa require homeowners insurance?
No. Homeowners insurance isn’t a legal requirement in Tampa. But your mortgage company or lender will probably require you to have it. Home insurance can be a valuable protection even if you’ve paid off your loan because your home may be your largest asset. It can protect you from financial ruin in the event of a natural disaster, protect your valuables, and help you repair your home after a covered event.
Why is homeowners insurance so high in Florida?
Florida has the highest home insurance rates in the country for a few reasons. One is that many insurers are pulling out of the state or sending non-renewal notices because of financial risks and rampant fraudulent practices.[8] Another is that much of the state is vulnerable to climate change and natural disasters, like hurricanes. Insurance companies have to offset the financial risk by charging more. Lastly, much of the state is at a high risk of flooding.[3] Florida saw two-thirds of all NFIP claims in 2023.
These factors make Florida homes very risky to insure, so homeowners face high premiums.
Alani Asis is a personal finance freelance writer with nearly three years of experience in content creation. She has landed bylines with leading publications and brands like Insider, Fortune, LendingTree, and more. Alani aims to make personal finance approachable through fun, relatable, and digestible content.
Sara Getman is an Associate Editor at Insurify and has been with the company since 2022. Prior to joining Insurify, Sara completed her undergraduate degree in English Literature at Simmons University in Boston. At Simmons, she was the Editor-in-Chief for Sidelines Magazine (a literary and art publication), and wrote creative non-fiction.
Outside of work, Sara is an avid reader, and loves rock climbing, yoga and crocheting.
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