These home insurance carriers in St. Petersburg supply low tariffs and strong insurance protection. – Bankrate.com

Finding the best St. Petersburg home insurance is a priority for many homeowners, but finding cheap insurance can be important to your financial goals as well. The average cost of home insurance in St. Petersburg, Florida is $ 1,018 per year for $ 250,000 home coverage, according to Bankrate's 2021 study of reported annual premiums. That's over $ 300 less per year than the average Florida home insurance cost, which is $ 1,353 per year for $ 250,000 home coverage.

There are dozen of St. Petersburg home insurance policies to choose from, but how do you know which one offers the best coverage for your needs? If you are one of the more than 265,000 residents of St. Petersburg, Florida, you should know this before you buy or renew your next home insurance.

The best cheap home insurance in St. Petersburg

There are several Florida home insurance companies that offer insurance options for St. Petersburg residents. To find the best home insurance for St. Petersburg, Bankrate scanned the largest home insurance companies by market share in the city. We analyzed their average awards – received from Quadrant Information Services – as well as the J.D. 2020 Power Scores, AM Best Financial Strength Scores, Coverage Offers and Available Discounts for Each Carrier.

If you need a St. Petersburg home insurance with solid coverage and competitive prices, these companies could be a good fit:

Progressive

While Progressive is known for selling auto insurance, they also offer home insurance. If you're looking to cut the time spent looking for insurance, Progressive might be a good choice. Progressive allows you to compare tariffs from multiple providers at the same time to see how the prices compare to the competition. While Progressive's average premium is the lowest on our list, you can save even more money with an upfront sale discount, a bundle discount, or a new home build discount.

Learn more: Progressive insurance valuation

traveler

Travelers received from J.D. Power scored higher than Progressive, but were still below the industry average. However, despite its low average premium, Travelers offers a range of insurance options including specialty personal property insurance, content replacement, identity theft insurance, and green home coverage. There are 41 local travelers' agencies in the St. Petersburg area. So if you'd prefer to handle your insurance in person, Travelers could be a good choice. In addition, AM awarded Best Travelers the top grade A ++ (Superior) for financial stability.

Learn more: Travel insurance review

Allstate

Allstate can be a great choice for new homebuyers, with discounts for new homeowners and convenient payment plans. If you rent your home for short term rent, you may appreciate the additional option of Allstate's HostAdvantage program, which provides social protection. Allstate received an above-average customer satisfaction rating from J.D. Power and an A + (Superior) financial strength rating from AM Best. The company also offers a variety of home insurance discounts, including multiple policy discounts, no claims, security features, and loyalty discounts.

Learn more: Allstate Insurance Review

District farm

State Farm received from J.D. Power in connection with Allstate above-average customer satisfaction values. Although State Farm's average premium is the same as the average St. Petersburg home insurance premium, State Farm offers some discounts that can help you save money. There are discounts on high impact canopies, installing a home security system, and insuring multiple insurance products with State Farm. Together with local agents, State Farm offers mobile resources that can help you manage your policy yourself.

Learn more: Review of state farm insurance

Options for home insurance coverage in St. Petersburg

Homeownership insurance in St. Petersburg is not required by law. However, if you have a mortgage, your lender will likely require you to get home insurance. Even if you don't have a mortgage, home insurance can provide financial help if your home or property is damaged or destroyed.

If you live in Florida you should consider the following coverages:

  • Flood insurance: As a rule, household insurance does not cover damage caused by flooding. You may be able to purchase a flood policy from your home insurance company or you may need to purchase one from the National Flood Insurance Program (NFIP).
  • Storm coverage: Since Florida is frequently hit by hurricanes, windstorm coverage can be an important part of your insurance portfolio. While this is standard with some policies, some vendors may require you to purchase a confirmation or a separate policy.
  • Mold growth: Due to the high temperatures, residents of St. Petersburg may encounter mold or powdery mildew damage in their homes. While not all companies offer this insurance, you may be able to add a certificate to your policy to cover damage caused by mold or mildew.

Each company offers different coverage, so speaking to a licensed agent can help you determine the options that are right for you.

Discounts on home insurance in St. Petersburg

Most insurance companies offer discounts that could help their policyholders lower their premiums. From security-free and damage-free savings to payment and loyalty discounts, there are several ways in which homeowners in St. Petersburg can save on their home insurance:

  • Discount for new homeowners: If you are buying a newly built home, you may be eligible for a home insurance discount. Some companies offer a similar discount when you first buy a home, regardless of the age of your home.
  • DIY discounts: You may get discounts on certain upgrades to your home, such as: B. green or environmentally friendly improvements or upgrades to make your home more energy efficient.
  • Roofing discounts: Some insurance companies offer discounts if you have a new roof, an impact-resistant roof, a roof with a certain wind resistance or a roof made of environmentally friendly materials.

One of the biggest discounts that many companies offer is multi-policy. You may want to ask your home insurance provider if they have options for your Florida auto insurance. If you bundle home and car insurance with one company, you can save a considerable amount on each policy.

frequently asked Questions

What is the best home insurance?

The best home insurance depends on your personal factors, such as: B. Your city and zip code, the details of your home, your creditworthiness, and the type of coverage you need. Obtaining quotes from multiple insurance companies can help you find a company that suits your needs. Working with an insurance specialist can also be helpful.

How much does home insurance cost in Saint Petersburg?

The average cost of home insurance in St. Petersburg is $ 1,018 per year for a home with $ 250,000 coverage. However, the cost of your insurance policy can be more or less depending on the type of policy you need and your specific valuation factors.

How much home insurance do I need in St. Petersburg?

Home insurance is not required in St. Petersburg, Florida, but many mortgage lenders require homeowners to have an active policy in order to meet the terms of their loans. Your lender will likely require that you have adequate home protection to pay off your loan if your home is destroyed, but most insurance brokers recommend that you insure your home for full replacement value whether you have credit or not not. Your specific needs will depend on the size of your home, the risk of damage in your area and your personal risk tolerance.

How do you buy home insurance in St. Petersburg?

Buying home insurance is relatively easy. To buy insurance coverage, you may want to get quotes from several different companies. You can get quotes from many companies online, or you might want to work with an agent over the phone or visit a local agency for a more personalized experience. Once you have multiple offers, you can compare them and check third-party coverage, discounts, insurance features and rankings.

What are some common home insurance claims in St. Petersburg?

Because the city is on the Gulf Coast, it is prone to damage from hurricanes, which can include wind damage and flooding. Other common claims can include theft or break-in, damage from mold or mildew, and liability claims for dog bites or other injuries. If you know which claims are common in your region, you can choose a suitable insurance cover.

methodology

Bankrate uses the Quadrant Information Services to analyze 2021 rates for all zip codes and airlines in all 50 states and Washington, DC:

  • Coverage A Apartment: $ 250,000
  • Coverage B, Other Structures: $ 25,000
  • Coverage C, Personal Property: $ 125,000
  • Coverage D, Loss of Use: $ 50,000
  • Coverage E, Liability: $ 300,000
  • Coverage F, Medical Payments: $ 1,000

Homeowners also have a $ 1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should only be used for comparison purposes. Your quotes will be different.

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