Annual Cost of Home Insurance in Plant City, Florida Plant City home insurance isn’t required by law. But, mortgage lenders can require you to keep a policy as long as you have a mortgage on your house. Mortgage lenders invest tens of thousands of dollars or more into your house to help you purchase it. If your home is destroyed, they’d be out of their money unless they relied on you to pay them back, which isn’t feasible for most people.
Key Takeaways
- For our customers, the cheapest homeowners insurance in Plant City, Florida, comes from Monarch National.
- The average home insurance cost in Plant City, Florida, is about $4,278 annually, or about 33% above the state average of $2,857.
- The best Plant City home insurance isn’t one single policy, but a unique policy tailored to your financial and coverage needs.
Average Homeowners Insurance Cost in Plant City, Florida
On average, home insurance in Plant City, Florida costs about $4,278 annually, which is about 33% lower than the statewide average of $2,857.
Unfortunately, Florida overall has some of the highest home insurance premiums in the country by some measures, due partly to high property values and general hurricane risk on both coasts.
While Plant City is an inland community in Hillsborough County, the town can still feel the effects of a potential hurricane if one strikes the Bay Area, which can cause increased home insurance premiums.
As an independent insurance agency serving Hillsborough County and the rest of the Sunshine State, we have several Plant City customers whose data we can analyze. Here we’ve compiled our customers’ real data to calculate average premiums for the companies they trust to protect their homes.
|
Company |
Average Premium |
|---|---|
|
Monarch National |
$1,897 |
|
American Platinum |
$4,390 |
|
Slide Insurance Company |
$4,482 |
|
Edison |
$5,454 |
|
Average |
$4,278 |
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
While premiums vary by carrier, rates will always rise as home value increases. More expensive houses cost more to insure because bigger, nicer homes have upgraded features and finishes that would cost more to replace if damaged or destroyed.
Additionally, older houses tend to have higher insurance rates. Typically, they aren’t built up to the latest building codes, which are crucial in Florida for a structure’s ability to withstand hurricane-force winds. This means they’re more likely to suffer damage during a storm.
Older homes have wear and tear that can degrade their components and increase the likelihood of property damage. For example, older pipes are more likely to leak than newer ones. Florida insurance companies are also very wary of old roofs, as they don’t handle strong winds well.
Companies With the Cheapest Homeowners Insurance in Plant City, Florida
Among the home insurance companies in Plant City, Florida, that our customers trust, Monarch National and American Platinum are the cheapest, on average. While this may be true on average, you may find variation when quoting and encounter another company with cheaper rates. Premiums vary by location, carrier, and person.
For our customers, Monarch National’s rates are considerably lower than American Platinum’s. This offering may not reflect the rates all policyholders have access to with this carrier.
Similarly, our customers typically pay close to the city’s average home insurance cost when they bind a home insurance policy with American Platinum. While rates with this insurer may be a bit above average, being near that average rate is always better than being far above it.
You should always get quotes from multiple insurance companies when looking for the cheapest home insurance in Plant City to ensure savings. You’ll be able to see who has the coverage you need at the lowest price.
How to Get the Best Home Insurance in Plant City, Florida
While no default best policy exists, the best homeowners insurance in Plant City will always address all of your coverage needs while staying relatively affordable. This coverage will vary by person, so you need to understand your coverage needs when quoting. Then, you should shop around to find the best policy and save money.
Our Plant City customers trust several of the state’s top-ranking insurance providers to protect their homes. Let’s take a closer look at some background information about these providers so you can determine if any of these insurers are right for you, too.
Average premiums are determined from our policyholder data. Financial strength is determined by each company’s ratings from Demotech, a leading insurance industry credit rating agency.
To gauge consumer satisfaction, we used the National Association of Insurance Commissioners’ complaint index, which compares a firm’s consumer complaint performance with other companies in the market. The default index number is 1.0, meaning a company with a complaint index of 2.0 has a complaint value twice as high as expected. So, for their scale, lower is better.
Monarch National
Demotech Rating
A
NAIC Complaint Index
0.60
Average Premium
$1,897
Monarch National has been serving Floridians with a variety of home insurance options since 2015. It was once a subsidiary of the now-defunct Fednat Insurance Company and assumed many of its policies upon Fednat’s liquidation in 2022.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$4,390
American Platinum Insurance Company, founded in 2011, is a subsidiary of Universal Insurance Holdings, offering home insurance coverage in Florida and Georgia. Policies are available exclusively through independent agents at Clovered.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$4,482
Slide Insurance Company was founded in 2021 and began operations offering home insurance in 2022. Available in Florida and South Carolina, the company currently has over 300,000 policyholders in the Sunshine State, making it one of Florida’s largest.
Edison
Demotech Rating
A
NAIC Complaint Index
0.40
Average Premium
$5,454
Established in 2006, Edison Insurance Company offers home insurance primarily in Florida through independent agents, like our team at Clovered. It was acquired by Florida Peninsula Insurance Company in 2010, although it still has its own book of business.
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
Plant City Homeowners Insurance Coverages
While prices vary by company, you’ll always receive the same coverages in your homeowners insurance policy, no matter where you buy the plan. Homeowners insurance plans include coverages for property and liability, as outlined below.
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage financially accounts for your home’s physical structure and components, including the roof, walls, flooring, foundation, pipes, wiring, and more. |
|
Other Structures Coverage |
Other structures coverage guards features on your property that aren’t attached to the main house, such as detached garages, sheds, gazebos, fences, and pools. |
|
Personal Property Coverage |
Personal property coverage protects your belongings in and around your home, including clothing, furniture, electronics, bikes, tools, jewelry, and more. |
|
Loss of Use Coverage |
Loss of use coverage covers living expenses when you’re forced to move out of your home temporarily after it suffers major damage. Your insurer can cover lodging, gas, and food while you’re displaced. |
|
Liability Coverage |
Liability coverage helps cover your legal fees and injured party’s medical expenses if you’ve been found legally responsible for their injuries. |
|
Medical Payments Coverage |
Medical payments coverage covers minor injuries someone can suffer at your property, regardless of fault. |
How to Get Plant City Home Insurance Quotes
With so much information to keep track of, we don’t want to leave you on your own to find the right insurance. Our team at Clovered can help you get home insurance quotes in Plant City, online or over the phone.
We’re an independent insurance agency based in South Florida, so we know how hard it can be to find affordable coverage in the state.
Use our online quoting platform to compare rates and plans on your own time and find the best option. Give our licensed agents a call at 833-255-4117 during business hours to get a quote over the phone, and feel free to email us at agent@clovered.com with any questions
It’s Time to Switch Your Homeowners Insurance
We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.
Plant City Home Insurance FAQs
Is home insurance required in Plant City?
What do I need to know about mobile home insurance in Plant City, Florida?
Mobile home insurance in Plant City is likely cheaper than home insurance on a standard house, although it depends on the age and location of your dwelling. Although mobile and manufactured home insurance is technically a different policy than standard home insurance, they include many of the same coverage areas for property and liability we described above.
What factors affect Plant City home insurance rates?
Insurance companies examine several factors about you and your property to help determine premiums. Rates vary almost on a case-by-case basis since every home and person is slightly different. Some critical factors that affect rates include your home’s age, location, materials, and features, as well as your claims history and policy details.
Do I need flood insurance in Plant City, Florida?
Homeowners insurance covers your home against various damage sources, from fires to theft to hurricanes. But one notable exclusion is flooding. Home insurance plans almost never cover flood damage. Plant City is prone to flooding from Florida’s heavy rains year-round. Consider flood insurance in Plant City to fully protect your property. Otherwise, you’re personally on the hook for any flood damage your home sustains.
Stay Above Water With Flood Insurance
Do you want to pay for costly and common flood damage yourself or have an insurance policy pick up the tab?
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.
