4 Best Homeowners Insurance Companies in Tampa (2023)

Bradford Cuthrell is a meticulous researcher and writer specializing in pet and home finance topics. He's surveyed thousands of pet owners and homeowners, listened to hundreds of customer service calls from various home service companies and spoken with dozens of industry experts to understand homeowners' common pain points and needs.

Ryan Lasker is a financial writer and editor with bylines in Morning Brew, The Motley Fool, and several more. As a certified public accountant, he leverages his technical expertise in personal finance and tax to fuel his passion for teaching financial literacy. When he's not writing, editing or working in a spreadsheet, he's biking the D.C. trails or reading.

Homeowners insurance in Tampa, Florida can protect homeowners financially if their home or belongings become damaged due to perils such as natural disasters. While Tampa is known for its beachfront views, the city faces the potential risk of tropical storms and water damage. Homeowners in the city and surrounding area might find it difficult to find adequate insurance with affordable premiums.

We at the MarketWatch Guides team carefully reviewed dozens of homeowners insurance providers to pick the top four companies for Tampa homeowners. We rated each company based on coverage options, reputation, customer service, cost and added benefits.

The cost of homeowners insurance in Tampa will depend on many factors. Get your personalized quote using our free tool below.

Our picks for the top companies offering property insurance policies in Tampa include:

According to 2023 homeowners insurance data from Quadrant Information Services, the average annual cost of homeowners insurance in Tampa is $3,179. The average rate of homeowners insurance in Florida is $2,528, which is higher than the national average of $2,417.

Liberty Mutual is the fifth-largest home insurance policy provider in the U.S. by market share, according to 2022 data analyzed by the National Association of Insurance Commissioners (NAIC). With an A rating from independent credit rating agency AM Best and a high J.D. Power score, Liberty Mutual offers financial stability and solid customer satisfaction ratings. We chose this provider for its suite of discount opportunities, including discounts for new or recently renovated homes, purchasing your policy online and having smart-home devices to prevent damage.

With the threat of tropical storms and hurricanes seemingly on the rise, Tampa residents can benefit from Liberty Mutual’s hurricane add-on coverage. We recommend taking a look at other add-ons, such as coverage for unattached structures on your property and repair or replacement of personal belongings.

Allstate is one of the largest homeowners insurance companies in the U.S. and receives high scores for its quality of coverage, discounts and overall customer satisfaction. Policyholders can opt for the personal property and dwelling coverage offered under Allstate’s standard homeowners insurance policy or take advantage of available add-ons for more comprehensive coverage.

Allstate also offers liability insurance and additional living expenses reimbursement to pay for extra costs when rebuilding your home after a fire or other damage. The company’s A+ rating with AM Best shows financial strength, and its many endorsements, such as green-home improvement reimbursement, incentivize policyholders to make energy-efficient changes to their homes after a covered loss.

Progressive is one of the most financially secure companies on our list, holding an A+ rating from AM Best. The company’s extensive portfolio of insurance offerings allows you to compare quotes for a wide range of coverage and bundle home insurance with other policies for a discount, such as car insurance.

Progressive customers who bundle their home and auto insurance save an average of 5% on insurance premiums. Progressive also offers other discounts, including lower repairs costs if you utilize a contractor within its professional network and a standard discount for paperless billing. While customers can access customizable, affordable home insurance through Progressive, it may not be the best option for someone in need of extended dwelling coverage.

State Farm offers affordable standard home insurance coverage and several unique endorsements, including sinkhole collapse, a valuable endorsement in Florida due to the state’s higher potential for sinkholes. State Farm has a vast network of agents that can offer Tampa residents customized coverage with local customer service. State Farm also has extensive online resources and tools to help you shop for a home insurance policy.

State Farm caters to Floridians and Tampa residents with add-on dwelling coverage. It also allows you to increase your dwelling coverage amounts up to 25% more than your home’s estimated replacement cost. This is especially helpful in an area prone to natural disasters, where repair costs can be staggering.

The cost of home insurance in Florida varies from city to city and person to person. The average annual premium in Tampa is $3,179, which is considerably higher than the state average of $2,528.

Florida’s geographical location can impact the amount of coverage available, with its high risk for windstorms, tornadoes, floods, hurricanes and tropical storms. Tampa, Florida residents may find it challenging to access affordable premiums, especially in the wake of Hurricane Ian.

Factors impacting home insurance premiums in Tampa include:

According to the Insurance Information Institute (Triple-I), the three most common claims filed in Tampa and the state of Florida are:

There are a few ways to mitigate the risks of these types of damage, whether through safety features or investing in additional insurance coverage. For example, hurricane storm shutters protect doors and windows from high winds and hail. Fire detectors and lightning rods can prevent extensive fire damage.

Water damage is arguably the most difficult to prevent, given Tampa’s proximity to the coast. Flood insurance provides coverage, and you can compare quotes across multiple providers to find affordable endorsements to supplement your home insurance policy.

HO-3 insurance is the most common form of home insurance on the market. Unlike HO-1 and HO-2 policies, HO-3 covers potential perils that could damage your dwelling, such as theft, fire and severe storms.

Most HO-3 policies provide three primary coverage types: dwelling, liability and personal property. Sometimes, an HO-3 policy will provide other structures coverage, which refers to property that is not part of the home, such as a fence, detached garage or backyard shed. Some policies will also cover loss of use, which reimburses you for living expenses while your home is under construction following a covered event.

Based on the unique risks posed by living in Tampa, we recommend adding the following endorsements to your home insurance policy:

Each provider on our list can offer home insurance coverage with varying benefits in Tampa, Florida.

Allstate boasts better scores with AM Best and J.D. Power than some other companies, suggesting financial stability and customer satisfaction. The company has a history of satisfactory customer service and performance ratings, with a large network of agents offering round-the-clock support and easy access to online quotes and home valuation.

Liberty Mutual has the most comprehensive suite of discounts, an important component for homeowners facing high insurance premiums. However, Progressive and State Farm are both experienced insurance providers with solid home insurance coverage, plus State Farm offers unique coverage for sinkhole collapse damage.

We recommend shopping for quotes from at least three of the providers on our list before purchasing a policy.

Get instant quotes from insurers by entering your ZIP code below.

The average cost of home insurance in Tampa, Florida, is $3,179, which is significantly higher than the state average of $2,528.

The average cost of flood insurance for Floridians with single-family homes is $958 per year, according to data from the National Flood Insurance Program (NFIP). Data shows that the average NFIP flood insurance policy in Tampa can go as high as $1,600 in ZIP codes that encompass coastal areas.

The Florida home insurance market struggles, with smaller, more local providers going out of business and some nationwide companies pulling out of the state entirely. Homeowners sometimes struggle to access coverage as more and more companies scale back.

A run of hard-hitting hurricane seasons has pushed insurers to increase rates to account for anticipated damage from continued storms. Inflation is also partially responsible as the cost of labor and materials continues to increase.

Our team surveyed dozens of home insurance providers and created a scoring system to assess and compare each company’s quality and service. Here are the factors that account for our provider scores according to our home insurance rating methodology:

Companies with the best customer service exhibit 24/7 availability, useful digital tools and a quick claims-filing process. Providers that offer extensive discount options, endorsements, customizable coverage options and unique features score significantly higher than those that don’t, putting them toward the top of our recommendations to readers.

We at the Marketwatch Guides Team gathered home insurance quotes for the providers in this article using data from Quadrant Information Services. Quadrant is a leading source of property and casualty insurance solutions and data.

Our sample homeowner is a 40-year-old single male with good credit and no prior claims history. Our sample policies featured a $1,000 deductible and the following coverage and limits:

For each provider, we gathered a quote for 50% of the ZIP codes in every state it is licensed in. We used the most populous ZIP codes for our study. We took the average of these individual quotes to calculate a national average premium per provider. Our sample rates are for informational purposes only. Actual premiums will vary.

Bradford Cuthrell is a meticulous researcher and writer specializing in pet and home finance topics. He’s surveyed thousands of pet owners and homeowners, listened to hundreds of customer service calls from various home service companies and spoken with dozens of industry experts to understand homeowners’ common pain points and needs. When he’s not helping his readers make informed decisions, he’s reading a book a week, planning a camping trip or working on his novel draft.

Ryan Lasker is a financial writer and editor with bylines in Morning Brew, The Motley Fool, and several more. As a certified public accountant, he leverages his technical expertise in personal finance and tax to fuel his passion for teaching financial literacy. When he’s not writing, editing or working in a spreadsheet, he’s biking the D.C. trails or reading.