Best Homeowners Insurance in Tampa, FL for April, 2024

If you’re looking for a quick answer, then I believe that Nationwide is the best homeowners insurance company in Tampa.

min read
Updated: 15 March 2024
Written by
Bob Phillips
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Living in Florida poses unique weather challenges for homeowners in the Sunshine State. Throughout the year, they have to contend with intense heat, humidity, summer thunderstorms, occasional freezing temperatures in January and February, and other temperature extremes. For those residing along the Gulf or Atlantic Coast, the added threat of hurricanes from May to October looms large. This is especially true for Tampa homeowners, one of Florida’s beautiful cities along the Atlantic Coast.

When severe summer storms, tropical storms, or hurricanes hit, homeowners in Tampa face the risks of damaging winds and floods. Unfortunately, even the best home insurance companies often raise their rates due to the heavy losses they incur from these weather events. As a result, homeowners are constantly on the lookout for the best Tampa home insurance companies. If you’re facing this challenge, you’ve come to the right place.

Having lived in Florida for almost twenty years, I understand the difficulties of finding the right insurance company to protect your home and belongings from major losses. Based on my experience and research, I highly recommend Nationwide as the best overall homeowners insurance company.

However, I encourage you to read about the other insurance companies we review in Tampa and make your own judgment.

Best Homeowners Insurance Companies In Tampa, FL 2024

Compare The Best Home Insurance Companies In Tampa, FL

Overall Rating A.M. Best Rating (A++ Best) Customer Satisfaction Rating (1000 Best) Best Suited For Online Experience Rating (10.0 Best) Get A Quote
Chubb
4.6

A++

809

High Value Homes

7/10

Instant Quote
USAA
4.8

A++

881

Military Families

8/10

Instant Quote
Citizens
4.6

B++

Not Rated

Florida Based Insurer

6/10

Instant Quote
Allstate
4.7

A+

816

People Looking For Discounts

9/10

Instant Quote
Tower Hill
4.5

B

Not Rated

Cheap Premiums

7/10

Instant Quote
State Farm
4.8

A++

829

Agent Presence

9/10

Instant Quote
Nationwide
4.9

A+

815

Best Overall

8/10

Instant Quote
Progressive Insurance
4.7

A+

874

Customer Satisfaction

8/10

Instant Quote
Scroll to see comparisons

Our Methodology

To determine the top Tampa homeowners insurance companies, we relied on a variety of sources. These included data from trusted rating services like A.M. Best, which assesses financial strength, and J.D. Power, which measures customer satisfaction. In addition, we took into account feedback from various consumer websites and factored in the author's own firsthand experience. By considering both objective data and subjective opinions, we compiled a comprehensive list of the best homeowners insurance providers in Tampa. 

65

Quotes Analyzed

25+

Years Of Industry Experience

24

Brands Reviewed

38+

Research Hours

The Best Tampa Homeowners Insurance Companies


Best Overall

Overall Rating
4.9

Key Statistics

9/10 Affordability
10/10 Customer Reviews
9/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

Nationwide stands out as the top choice overall for several reasons. Firstly, it boasts an impressive A+ (Superior) rating from AM Best, indicating strong financial stability. Additionally, it garners high customer satisfaction ratings across multiple online platforms, further affirming its reliability. Moreover, Nationwide has a robust presence of agents in South Florida, ensuring personalized assistance. Lastly, their rates are highly competitive, making Nationwide a solid choice all around.

What sets Nationwide apart is their comprehensive standard home insurance policy, which includes personal property coverage alongside unique coverages not commonly offered by other insurers. For instance, they provide reimbursement for credit card fraud and coverage for meeting stricter building codes in case of a rebuild.

Furthermore, Nationwide offers customizable add-ons to tailor your policy to your specific needs. One such option is Better Roof Replacement, which covers the cost of upgraded roofing materials in the event of qualified damage. Another valuable add-on is Brand New Belongings, providing replacement cost coverage for your personal belongings. In case of damage or loss, you’ll be reimbursed based on their depreciated value, allowing you to repurchase items and submit the receipts to Nationwide for reimbursement of the price difference.

Convenience is key with Nationwide, as they offer multiple avenues for purchasing Tampa home insurance. You can connect with a local Nationwide agent, make a purchase over the phone, or even complete the process online. Additionally, their user-friendly website and mobile app enable you to effortlessly file and track claims, make payments, and make necessary policy changes.

Nationwide’s average cost for homeowners insurance in Tampa: $209/month

Benefits & Drawbacks

Benefits
  • Offers highly affordable home insurance premiums in Tampa, providing cost-effective coverage options.
  • Provides optional coverages such as upgraded roofing for rebuilding purposes and replacement cost protection for personal belongings.
  • Includes credit card protection as a standard feature in their insurance policies, safeguarding against potential financial risks.
Drawbacks
  • Optional contents replacement cost coverage necessitates reimbursement, adding an additional step for policyholders to receive full compensation.

Best For Military Families

Overall Rating
4.8

Key Statistics

9/10 Affordability
10/10 Customer Reviews
9/10 Claims/Payouts
9/10 Coverage Level

Why We Like Them

USAA emerged as a strong contender for the title of Best Overall Tampa Home Insurance but secured a close second place due to its exclusive availability only to military members and their families. However, aside from this limitation, USAA remains a highly reputable choice across the board.

Founded in 1922 by 25 Army officers seeking to self-insure their cars, USAA has since expanded its offerings to encompass a wide range of insurance and financial products. It caters to members of the U.S. armed forces, Reserve, veterans, and their families. With its headquarters in San Antonio, USAA operates various satellite offices across the United States and even in international locations like London, Frankfurt, and Luxembourg.

USAA’s standard home insurance policies provide valuable features, including replacement cost coverage for personal belongings and specific coverage for uniforms of active-duty and deployed service members. Additionally, there may be options for optional insurance such as coverage for earthquakes, and home-sharing arrangements. However, if you need additional flood insurance, you should look for coverage from the National Flood Insurance Program.

For eligible members, USAA allows the convenient purchase of home insurance products online using an active membership ID, or alternatively, through phone assistance or local branch visits. To enhance customer service, USAA offers an automated agent chatbot on its website, granting quick access to online accounts for bill payments, policy changes, and claims management. Notably, USAA holds an impressive A++ rating from AM Best, denoting the highest level of financial strength available for insurance companies.

Average premium for USAA homeowners insurance in Tampa: $140/month

Benefits & Drawbacks

Benefits
  • Standard coverage includes full reimbursement for damaged or stolen belongings, giving you peace of mind.
  • Special protection for active duty and deployed service members' uniforms and equipment, meeting their unique needs.
Drawbacks
  • No physical locations in Tampa, limiting face-to-face assistance.
  • Fewer discounts available compared to other companies.
  • Only open to current and past military members and their immediate families, providing specialized coverage.

Best For Agent Presence

Overall Rating
4.8

Key Statistics

9/10 Affordability
7/10 Customer Reviews
9/10 Claims/Payouts
9/10 Coverage Level

Why We Like Them

State Farm secured the position of our second runner-up, thanks to its strong presence of agents in Tampa and South Florida. This is of great importance, as it ensures not only the availability of numerous State Farm agents in the aftermath of severe storms or hurricanes but also the presence of claims adjusters and claims offices right in Tampa.

State Farm offers a reliable standard homeowners policy with personal property coverage that can be further customized with additional coverages to suit your specific needs. These additional coverages include protection for ordinance and law requirements, identity theft, and insurance for valuable items like jewelry. Unfortunately, if you live in a flood zone and in need of flood insurance, you will need to get coverage from the National Flood Insurance Program.

When it comes to financial stability, State Farm holds the highest available AM Best rating of A++. This signifies their strong financial strength and reliability.

State Farm provides optional replacement coverage for your home in Tampa, other structures, and personal belongings. This coverage ensures that damaged items are replaced at their current market value without factoring in depreciation. Without this endorsement, the replacement value is calculated based on the actual cash value of the items.

To get a Tampa home insurance quote from State Farm, you can start the process online. However, to purchase a policy, you will need to work with a local agent. State Farm also offers convenient online tools and resources, allowing policyholders to file insurance claims, manage their accounts, enroll in paperless billing, and access a comprehensive resource library to learn more about insurance-related topics.

Average premium for State Farm home insurance in Tampa: $165/month

Benefits & Drawbacks

Benefits
  • Offers highly affordable home insurance premiums that fit your budget.
  • Earns the top financial strength rating, ensuring your peace of mind.
  • Boasts the largest number of local agents in South Florida, providing personalized assistance.
Drawbacks
  • Exclusive availability of insurance policies through their own agents, limiting your options with independent agents.

Cheapest Coverage

Overall Rating
4.5

Key Statistics

10/10 Affordability
6/10 Customer Reviews
7/10 Claims/Payouts
8/10 Coverage Level

Why We Like Them

Tower Hill stands out as a budget-friendly option for home insurance in Florida. It’s important to note, however, that the company lacks a JD Power score for customer satisfaction and holds a B++ rating from AM Best. These factors can be attributed to Tower Hill Insurance primarily operating as a Florida-focused insurer, with coverage limited to only 16 additional states.

Tower Hill’s home insurance allows homeowners to customize their coverage according to their specific needs. Alongside standard coverage types like dwelling and personal property coverage, their Typical and Prime Plus policies offer additional options called endorsements. These endorsements include extended replacement cost, water backup coverage, liability coverage and personal injury coverage.

What sets Tower Hill apart are its unique add-on coverage options that may be hard to find with other insurers. These include coverage for landscaping, food spoilage, trampoline liability, lock replacement and more. Moreover, their highest-tier Spire package incorporates various optional coverages directly into the policy.

Overall, Tower Hill provides affordable rates for Florida homeowners, although it’s important to consider their customer satisfaction score and financial strength rating alongside their coverage options.

Average Premium for Tower Hill homeowners insurance in Tampa: $121/month

Benefits & Drawbacks

Benefits
  • Offers the most affordable rates in Tampa and throughout Florida.
  • Provides specialized policy packages designed specifically for high-value homes.
  • Presents an extensive range of coverage options to tailor your home insurance to your specific needs.
Drawbacks
  • Experienced a downgrade in its financial strength rating by AM Best in 2022.
  • Has a higher number of customer complaints compared to the national average, as reported by the National Association of Insurance Commissioners (NAIC).
  • Lacks a mobile app and offers limited policy information on the website.

Best For Discounts

Overall Rating
4.7

Key Statistics

8/10 Affordability
7/10 Customer Reviews
8/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

Allstate goes above and beyond with a total of 11 homeowners insurance discounts in Tampa, including seven rare offerings, surpassing the industry average of seven discounts.

Here are some of Allstate’s notable discounts:

  • Claims forgiveness: Additional coverage that prevents your rate from increasing after filing a claim.
  • Claims-free: Earn a 5% renewal discount each year as long as you remain claims-free.
  • Deductible reward: Enjoy a $100 reduction in deductible when you sign up.
  • Bundle: Save up to 25% by bundling your home and car insurance.
  • Automatic payment: Get up to 5% off by setting up automatic payments.
  • Loyalty: Receive up to 10% discount for renewing with Allstate.
  • New Homebuyer: Discount available for recent homebuyers.
  • New home: Discount for insuring a newly constructed home.
  • Responsible payment: Additional discount for maintaining a good payment history.
  • Early payment: Earn up to 10% off by purchasing a new policy at least seven days before your old one expires.
  • Protective device: Discount for installing theft and fire protection systems.

Allstate’s homeowners insurance provides essential coverage for your dwelling, personal property coverage, liability coverage, guest medical protection, and other optional home coverage types. In addition to the standard coverages, Allstate offers homeowners a wide range of optional coverages.

With Allstate, you have the choice of nine optional coverage types for homeowners insurance. Alongside commonly offered coverages like ID theft and scheduled personal property, Allstate provides unique coverage for homeowners with yards and gardens, allowing for increased coverage limits for landscaping costs and riding lawnmowers.

Benefits & Drawbacks

Benefits
  • Provides a wide range of discounts to help customers save on their home insurance premiums.
  • Features numerous local agents and claims adjusters available in South Florida.
  • Demonstrates robust financial stability for added peace of mind.
Drawbacks
  • Experiences a higher volume of complaints compared to the national average.

Best For High-Value Homes

Overall Rating
4.6

Key Statistics

7/10 Affordability
8/10 Customer Reviews
9/10 Claims/Payouts
10/10 Coverage Level

Why We Like Them

Chubb is a top choice for homeowners with valuable assets to safeguard due to its extensive range of ancillary products and add-ons. However, it’s worth noting that budget-conscious homeowners in Tampa might find their rates slightly higher than average.

When it comes to insuring high-value homes, Chubb shines by providing various policy add-ons in addition to personal property coverage, particularly extended replacement cost coverage. This coverage ensures that your home can be rebuilt after a covered incident without financial burden. However, if your home is built on the floodplains, you might want to consider getting flood insurance from the NFIP as Chubb and other property insurers usually don’t offer it.

One notable perk is Chubb’s risk consulting program, which involves a Chubb consultant visiting your home to assess potential fire or security risks proactively, preventing accidents before they occur.

The Chubb Masterpiece insurance policy caters to the specific needs of affluent clients, including coverage for the restoration of electronic data damaged by a computer virus and property management services.

When it comes to insurance claims, Chubb claims agents have the authority to provide immediate claim payment. However, they cannot deny a claim without the approval of a manager. This approach aims to make the claims process as seamless and hassle-free as possible for policyholders.

Average premium for Chubb home insurance in Tampa: $167/month

Benefits & Drawbacks

Benefits
  • Conducts personalized home assessments to ensure clients have the right coverage in emergencies.
  • Allows Masterpiece-level customers to select their own contractors and artisans for claim repairs.
  • Provides a cash settlement option for those who prefer not to rebuild after a total loss.
Drawbacks
  • Policies can be pricier compared to competitors due to their focus on high-value properties.
  • Online quotes are unavailable; contact an agent for policy information.

Best For Florida-Based Insurers

Overall Rating
4.6

Key Statistics

7/10 Customer satisfaction/reviews
7/10 Customer Reviews
8/10 Claims/Payouts
8/10 Coverage Level

Why We Like Them

Citizens Property Insurance Corporation plays a vital role in Florida’s property insurance market. It provides insurance protection to those who are entitled to coverage but can’t obtain it through the private market.

As one of Florida’s leading insurers, Citizens strives to deliver service that meets private-market standards to its customers.

The Florida Legislature established Citizens in August 2002 as a not-for-profit, tax-exempt government entity. Its purpose is to offer property insurance and personal property coverage to eligible property owners in Florida who are unable to find coverage in the private market.

Citizens is funded by policyholder premiums. However, according to Florida law, if Citizens faces a deficit after a particularly destructive storm or a series of storms, it may also impose assessments on most policyholders in Florida.

Average premium for Citizen’s homeowners insurance in Tampa: $180/month

Benefits & Drawbacks

Benefits
  • Proudly headquartered in Tallahassee, Florida, providing localized expertise.
  • Specializes in insuring homes exclusively within the state of Florida.
Drawbacks
  • Premiums have the potential to rise in the event of a significant storm.
  • Currently lacks a customer service rating from JD Power.

Best For Customer Satisfaction

Overall Rating
4.7

Key Statistics

8/10 Affordability
10/10 Customer Reviews
8/10 Claims/Payouts
9/10 Coverage Level

Why We Like Them

Progressive stands out with the second highest JD Power customer satisfaction score among the companies we reviewed, excluding USAA. However, we didn’t award USAA the Best for Customer Satisfaction title because it only offers home insurance to military members and their families.

Progressive’s home insurance policies encompass the typical coverage types found in homeowners insurance:

  • Dwelling coverage: Pays for repairs or replacement if your home is damaged by covered problems like fires or tornadoes.
  • Other structures coverage: Covers repairs or replacement for structures not attached to your home, such as fences or sheds.
  • Personal property coverage: Takes care of repairs or replacement for your belongings, such as clothes, electronics, and furniture.
  • Liability coverage: Protects against property damage and injuries to others, including coverage for accidents that occur on your property. It also covers legal defense in case of a lawsuit.
  • Additional living expenses coverage: Includes expenses for hotel stays, meals, and pet boarding if you cannot live in your home due to a covered issue like a tornado.

According to Progressive’s filings with the Florida Department of Insurance, certain dog breeds may be ineligible for coverage. These breeds include Akitas, American bulldogs, chow chows, Dobermans, Mastiffs, pit bulls, Rottweilers, Staffordshire terriers, wolf hybrids, any mixed or varied breeds of these, and any dog with a history of biting.

Average premium for Progressive home insurance in Tampa: $181/month

Benefits & Drawbacks

Benefits
  • Offers highly competitive rates that are difficult to beat.
  • The Name Your Price tool allows you to specify your budget, and Progressive will find suitable coverage for your needs.
Drawbacks
  • Does not provide options for increased dwelling coverage beyond the standard policy.
  • Maintains a banned dog list in Florida that may disqualify you from obtaining coverage if you own certain breeds.

How To Find The Best Home Insurance Company For You

Finding the best home insurance company in Tampa may require time and effort, but it’s a worthwhile endeavor. Your South Florida home is a significant financial asset, so safeguarding it and your belongings is crucial for your family’s financial security.

Here are the steps to help you find the right policy:

  • Research Tampa homeowners insurers online and narrow down your choices to three carriers that make you feel comfortable.
  • Determine the coverage limits you need (you might need assistance from an agent).
  • Obtain quotes for coverage from the three insurers.
  • Select a carrier based on coverage, customer reviews, financial strength, and rates.
  • Complete the application process to secure your coverage.

While some insurance companies allow you to complete everything online, others may require you to speak with an agent.

Largest Home Insurance Companies In Florida

Based on the Insurance Information Institute’s 2021 data on Florida home insurers, here are the insurance companies with the most policyholders:

  • Universal Insurance Holdings
  • Citizens Property Insurance
  • State Farm
  • Tower Hill Insurance
  • Progressive
  • USAA
  • First Protective Insurance Company
  • HCI Group, Inc.
  • Florida Peninsula Holdings
  • Heritage Insurance

Average Cost Of Home Insurance In Tampa, FL

Using U.S. Census median home data, here are the rates for a 2,100-square-foot home with $215,300 of dwelling coverage built in 1986:

Insurer Annual Rate
Tower Hill $1,356
Universal $1,944
State Farm $1,986
Chubb $2,009
Progressive $2,179
Average $2,301
Florida Peninsula $2,712
Heritage $2,248
HCI $2,432
Allstate $3,485

Average Tampa Homeowners Insurance Rates For New Homes

Insurer Average Annual Cost
State Farm $1,195
ASI $670
Chubb $1,478
Allstate $1,102
Travelers $997

Average Tampa Homeowners Insurance Rates For Poor Credit

Insurer Average Annual Cost
Chubb $8,456
Universal Property $1,961
State Farm $3,569
Allstate $1,476

How To Get An Online Homeowners Insurance Quote In Tampa

If you want to get an online quote for homeowners insurance in Tampa, here’s what you need to do:

• Go to the websites of the insurance companies you’re interested in.

• Fill out the quote form with details about your home, such as its value, age, square footage, exterior, and zip code.

• Submit the information and wait for your quotes to be generated.

Keep in mind that some home insurance companies in Tampa may not provide online quotes. In such cases, you’ll have to contact a licensed agent in your area by giving them a call.

Factors That Impact The Cost Of Your Home Insurance Policy In Tampa

There are several factors that influence the cost of Tampa homeowners insurance, including:

  • The location of the home (zip code)
  • The home’s age
  • Construction materials (brick, stucco, etc.)
  • Proximity to flood zones
  • Your claim history
  • Coverage amounts
  • Insurer discounts

The proximity to the Atlantic Ocean is an important factor that affects the rates of your Tampa home insurance.

Florida Home Insurance Laws To Know

Starting from January 1, 2023, a new Florida property law called SB 2A became effective. This law introduces the Florida Optional Reinsurance Assistance Program (FORA), which is a billion-dollar safety net aimed at helping insurance companies in the event of a hurricane season or a catastrophic event like the one experienced in 2022.

Additionally, the new law includes the elimination of the Assignment of Benefits practice, which involves transferring insurance claim payments from an insurer to a contractor.

Home Insurance Discounts In Tampa

When purchasing homeowners insurance in Tampa, it’s a good idea to ask your agent about available discounts that can help lower your premium. You may be eligible for multiple discounts on the same policy, including:

  • Claims-free: If you haven’t filed any claims, you can receive a discount when renewing your policy each year.
  • Bundle: Some companies offer up to a 25% discount when you bundle your home and car insurance together.
  • Automatic payment: By setting up automatic premium payments from your checking account, you may qualify for a discount.
  • New home: Insuring a newly constructed home can make you eligible for a discount.
  • Responsible payment: If you have a good payment history, you may be eligible for an additional discount.
  • Early payment: Buying a new policy at least seven days before your old policy expires can earn you a discount.

In The News

• Based on a report from WFAA news in Tampa, experts in the home insurance industry predict that Florida’s property insurance rates may see a significant increase of up to 50% during the summer of 2023.

• In the past three years, United Property & Casualty (UPC) has become the tenth property insurance company in Florida to enter receivership, indicating financial difficulties in the industry.

Information About Tampa

Tampa, a lively city on Florida’s Gulf Coast, blends history and progress. Influenced by various styles, Tampa showcases a mix of culture and modernity.

From diverse architecture to vibrant neighborhoods, Tampa offers a range of cultural experiences. With lively music concerts, captivating art exhibitions, exciting outdoor festivals, and renowned museums, there’s something for everyone to enjoy, no matter their age.

Tampa is fortunate to have a breathtaking waterfront along the sparkling Gulf of Mexico. With miles of picturesque coastline and waterfront parks, residents can appreciate nature’s beauty and engage in recreational activities, promoting an active and healthy lifestyle.

FAQs

Is homeowners insurance more expensive in Florida?

Home insurance rates in Florida are known to be significantly higher compared to many other states, often up to 50% more. The reason for this is the well-developed coastal areas in Florida, which make it more susceptible to hurricanes and severe weather events. When home insurance providers face substantial losses due to these events, they are compelled to raise rates to cover the expenses. Unfortunately, these rate increases affect homeowners in The Sunshine State, leading to higher premiums for their homeowners insurance policies. In case you want to protect yourself from these events, we suggest looking into flood insurance and the National Flood Insurance Program.

How much per month is a million-dollar home insurance policy in Tampa?

Insurance rates can vary depending on the insurance company you choose. In Tampa, there are two companies that offer relatively low rates. Allstate has rates starting at $4,310 per year, while Nationwide offers rates starting at $5,501 per year.

What is the average monthly cost of homeowners insurance in Tampa, Florida?

The cost of homeowners insurance in Tampa can vary based on the value of your home. For a home with $250,000 in dwelling coverage, the average annual cost will be around $2,200.

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