Homeowners Insurance in Brandon, Florida

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  • Homeowners Insurance in Brandon, Florida

Brandon is a burgeoning suburb located near enough to Tampa to enjoy all the perks the city and bay have to offer. Homeownership is a milestone to celebrate and cherish. If you own a home in Brandon, you should protect it financially with homeowners insurance.

Home insurance is the best available safety net to guard against life’s unexpected events. We made this guide to help you find the coverage you need in Brandon at a price you can afford.

How Much Is Homeowners Insurance in Brandon, Florida?

The average cost of homeowners insurance in Brandon is about $3,247 annually on a $150,000 home, $5,800 on a $300,000 home, and $8,356 on a $450,000 home.

Home insurance rates in Hillsborough County hover around the state average. Rates in coastal cities like Tampa and Apollo Beach will likely be higher than inland cities like Brandon. The following table lists average rates in the state with examples from nine common carriers in Florida.

Average Cost of Homeowners Insurance in Brandon 
Company $150,000 House $300,000 House $450,000 House
Allstate $2,265 $4,048 $5,832
Citizens $1,855 $3,310 $4,767
Florida Penn $3,074 $5,486 $7,902
Liberty Mutual $2,154 $3,841 $5,530
People’s Trust $3,454 $6,167 $8,883
Southern Oak $4,338 $7,766 $11,197
State Farm $2,841 $5,077 $7,316
Stillwater $1,309 $2,340 $3,373
Universal Property $2,945 $5,262 $7,580
Average $3,247 $5,800 $8,356
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We partner with the nation’s top homeowners insurance companies so you can get a custom policy at an affordable price.

Averages vary by company because each carrier has a slightly different way of underwriting. Underwriting is essentially risk analysis. Many factors affect premiums, and the mix of these factors, plus company business strategies, dictate underwriting methods and rates.

Regardless of the company, insurance rates will always increase as home values rise because larger homes have higher replacement costs. Replacement cost is the price to rebuild your home from the ground up based on materials and labor only. It’s a principal number that carriers use to determine rates. 

Two more important factors that affect premiums in Brandon are your home’s age and wind mitigation features. We’ll break down their impact on rates starting with the table below that focuses on homes with $150,000 replacement costs.

Cost of Homeowners Insurance on $150,000 House in Brandon 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $2,945 $2,097 $1,754
Citizens $2,297 $1,585 $1,683
Florida Penn $3,660 $2,885 $2,676
Liberty Mutual $2,615 $1,763 $2,083
People’s Trust $4,503 $2,936 $2,923
Southern Oak $6,777 $3,809 $2,427
State Farm $3,881 $2,521 $2,121
Stillwater $1,823 $1,205 $899
Universal Property $4,448 $2,058 $2,330
Average $4,457 $2,692 $2,592

The premiums displayed in this article were obtained by the Florida Office of Insurance Regulation. They represent the most recent rate filings from the state’s largest insurers and can be utilized as an average of what Floridians can expect to pay for homeowners insurance each year. The example premiums are based on a policy for a Florida masonry home with a $500 non-hurricane deductible, a 2% hurricane deductible and no claims in the past three years.

Florida Office of Insurance Regulation Premium Consideration Factors
Home Construction Coverage Definition
*Wind Mitigation Any protection on your home that helps decrease the damage caused by strong winds like a hurricane. This can include certain roof attachments and coverings, extra water-resistant seals and impact-resistant doors and windows.
Pre-2001 Construction w/ No Wind Mitigation These premiums represent homes built before 2001 with no wind mitigation features.
Pre-2001 Construction w/ Wind Mitigation These premiums represent homes built before 2001 with maximum wind mitigation features.
2001-Present Construction These premiums represent homes with limited wind mitigation features and no hip roof built from 2001, when Florida redesigned its building codes and mandated that new construction withstand hurricane-force winds better. 

Wind mitigation reduced rates on older $150,000 houses in Brandon by over $1,700 annually. Hurricanes and tropical storms threaten Florida annually, and even reasonably inland communities like Brandon aren’t completely safe. Wind mitigation goes a long way and legally requires carriers to discount your premiums.

Older houses had the highest insurance costs of the bunch because older homes are more prone to damage for several reasons. Mainly, wear and tear degrades components from the roof to the pipes to the foundation over time, making damage more likely. Also, older construction isn’t up to the latest codes and is more likely to suffer problems during a severe weather event.

See how average home insurance rates in Brandon change on $300,000 houses below.

Cost of Homeowners Insurance on $300,000 House in Brandon 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $5,301 $3,775 $3,067
Citizens $4,135 $2,853 $2,943
Florida Penn $6,588 $5,193 $4,678
Liberty Mutual $4,707 $3,173 $3,642
People’s Trust $8,105 $5,285 $5,111
Southern Oak $12,199 $6,856 $4,243
State Farm $6,986 $4,538 $3,708
Stillwater $3,281 $2,169 $1,571
Universal Property $8,006 $3,704 $4,074
Average $8,022 $4,846 $4,531

Wind mitigation produces savings of nearly 40% yearly on average. Some carriers have even larger discounts. For instance, Universal Property & Casualty, Florida’s largest private carrier, had 54% lower rates on houses with wind mitigation versus those without.

The last table depicts Brandon home insurance rates on $450,000 dwellings.

Cost of Homeowners Insurance on $450,000 House in Brandon 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $7,657 $5,452 $4,386
Citizens $5,972 $4,121 $4,208
Florida Penn $9,516 $7,501 $6,690
Liberty Mutual $6,799 $4,584 $5,208
People’s Trust $11,708 $7,634 $7,309
Southern Oak $17,620 $9,903 $6,067
State Farm $10,091 $6,555 $5,302
Stillwater $4,740 $3,133 $2,247
Universal Property $11,565 $5,351 $5,826
Average $11,588 $6,999 $6,480
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.

Companies With Cheap Homeowners Insurance in Brandon

Stillwater and Citizens had the cheapest homeowners insurance in Brandon of the companies we analyzed, although you may find differently when you get quotes. Rates vary by many factors, and you might find a more affordable carrier based on your situation.

Over a dozen private companies have left or failed in Florida since 2020, but Stillwater is still growing strong. Stillwater is based in Jacksonville and offers policies throughout the country.

Citizens is also Florida-based, but it’s the only non-profit insurer on the list. The state government funds Citizens, and it was originally designed to be a last-resort option for people who can’t find coverage from private insurers.

However, due to the challenges in the Florida market, more people have turned to Citizens than expected. The company is trying to offload policies onto private carriers, so keep this in mind when quoting.

You should always compare rates from multiple providers to find cheap homeowners insurance in Brandon. Don’t expect your first quote to be the cheapest every time.

Brandon Homeowners Insurance Coverages

Homeowners insurance policies protect your property and liability in several ways that can be separated into six general coverage areas. These protections are standard in all HO3 homeowners policies, the most common type of home insurance. 

Brandon Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage financially guards the physical structure of your home, including the roof, walls, floor, foundation, piping, HVAC, and more.
Other Structures Coverage Other structures coverage protects fixtures on your property that aren’t attached to your main house, such as fences, sheds, pools, carports, and more.
Personal Property Coverage Personal property coverage safeguards your belongings from perils and theft. Covered items include furniture, electronics, clothing, jewelry, and tools.
Loss of Use Coverage Loss of use coverage helps pay for temporary living expenses if your home is uninhabitable after suffering severe damage. Your insurer can cover lodging, meals, and more.
Liability Coverage Liability coverage covers you financially if you’re found legally at fault for someone’s injuries. Your insurer can cover medical bills and legal fees.
Medical Payments Coverage Medical payments coverage helps pay minor medical bills if someone who doesn’t live with you is injured around your property.

How to Get the Best Home Insurance in Brandon, Florida

To get the best homeowners insurance in Brandon, you need to identify your coverage needs and budget. Everyone’s perfect policy will differ because every person has different needs and financial situations. You can and should adjust your policy details and shop around for the best coverage to fit your circumstances.

Customize Your Coverage

You can change your policy limits to reflect your needs. You should make a home inventory to determine the exact amount of personal property coverage you need. You can raise or lower your liability limits based on your assets. Carriers typically require at least $100,000 in coverage, but we recommend at least $300,000. Your dwelling must be insured to at least 80% of its value, but you can raise it to 100% if you’d like. This would fully cover your costs in case of a total rebuild.

Policies have certain exclusions for coverage areas and risks. Depending on your needs, you may want to purchase additional coverage called endorsements or riders to fully protect your property. You can get endorsements for valuables, inflation guards, home-based businesses, and more.

Shop Around for Savings

Once you know what you need in your plan, you should compare prices from several providers. Shopping around allows you to find the best rates for endorsements, coverage options, and overall protection.

And, you can shop around for discounts. Discounts vary by provider. See which company has more discounts you qualify for or better discounts for more savings. Common discounts include those for security systems, bundling, and new home construction. 

What You Should Know About Flood Insurance in Brandon

While home insurance covers several perils, from fires to hurricanes to theft, flood damage is always excluded. Flood insurance is always separate from homeowners insurance.

Floods are the most common natural disaster in the country. Nationwide, 98% of counties in the U.S. have experienced a flood. Flooding is also very costly to cover. The average flood insurance claim is nearly $30,000, over $10,000 more than the typical home insurance claim.

Flash flooding is possible in Brandon, as the area receives a lot of rain with few hills and elevated regions. Heavy rains accompanying possible tropical storms and hurricanes can also be problematic. You should look into flood insurance in Brandon sooner rather than later to protect your home and belongings completely.

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?

Factors Affecting the Cost of Home Insurance in Brandon, Florida

Several variables influence the cost of homeowners insurance. Factors that can raise rates include:

  • Old roofs, siding, and HVAC
  • Attractive nuisances (pools, trampolines, playground equipment)
  • Policy endorsements 

Dated components are more susceptible to damage from weather events or wear and tear. Additionally, attractive nuisances increase the chances of a liability claim and typically raise rates of property insurance in Brandon. The additional coverage provided by endorsements will also increase premiums.

Factors that can lower rates include:

  • Security systems
  • Proximity to fire stations
  • Policy discounts

Living close to a fire station or hydrant reduces your chances of severe fire damage, lowering premiums. Similarly, owning a home security system lowers theft risk. Living in a gated community can also produce a discount. Discounts vary by provider, so you should always ask which ones can apply.

Is Home Insurance Required in Brandon?

No law requires homeowners insurance in Brandon, but mortgage lenders can. If you have a mortgage on your house, your lender will mandate home insurance as part of the loan.

Lenders require borrowers to keep home insurance to protect their investments. If your house gets destroyed by a covered peril, you and your lender can recoup your money through the insurance provider.

If you don’t keep coverage, your lender will put insurance on you, called force-placed insurance. Force-placed coverage is not ideal, as it provides limited protection at often exorbitant rates. Avoid force-placed insurance by finding your own policy and making your payments on time.

How to Get Homeowners Insurance Quotes in Brandon

If you want any help with your homeowners insurance quotes in Brandon, we’re here to help. Our Florida-based agents are on standby to assist online or over the phone. 

You can use our online quoting platform to compare your options on your own time, while the help of a licensed agent is only a chat away.

Or, if you’d prefer to quote over the phone, give us a call at 833-255-4117 during business hours. We know how frustrating finding home insurance in Florida can be, and we want to make the process easier for you. You can also email us with questions at agent@clovered.com.

Homeowners
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.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

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