Homeowners Insurance in Land O’ Lakes, Florida

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  • Homeowners Insurance in Land O’ Lakes, Florida

Homeowner insurance in Florida, a state prone to several weather-related disasters, is critical, even when you’re shielded from the coast in laid-back Land O’ Lakes in central Pasco County.

Your home is one of your most significant investments, and you need to understand homeowners insurance fully to protect your home sufficiently. We created this comprehensive guide breaking down homeowners insurance in Land O’ Lake so you can get the protection you need at the price you want.

How Much Is Homeowners Insurance in Land O’ Lakes, Florida?

The average cost of homeowners insurance in Land O’ Lakes is $3,461 on a $150,000 home, $6,183 on a $300,000 home, and $8,907 on a $450,000 home, although your rate may differ exactly due to the many variables affecting premiums.

Florida has some of the highest insurance rates in the nation due to the rising property insurance costs, regular hurricane threats, flooding potential, and more. As a result, rates in coastal areas, such as Pasco County, have risen in recent years.

The table below shows some popular companies’ homeowners insurance rates in Land O’ Lakes.

Average Cost of Homeowners Insurance in Land O’ Lakes 
Company $150,000 House $300,000 House $450,000 House
Allstate $2,098 $3,750 $5,404
Citizens $2,930 $5,223 $7,520
Florida Penn $3,044 $5,436 $7,832
Liberty Mutual $2,545 $4,540 $6,538
People’s Trust $3,698 $6,604 $9,513
Southern Oak $4,225 $7,564 $10,905
State Farm $5,505 $9,832 $14,165
Stillwater $1,592 $2,847 $4,102
Universal Property $3,513 $6,279 $9,047
Average $3,461 $6,183 $8,907
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 rates vary by company, insurance rates always rise as home value increases. This is because the replacement cost of your home is a significant factor that determines rates. Replacement cost is the amount needed to rebuild your house from the ground up based on materials and construction expenses (not market value). Larger, nicer homes have higher replacement costs, thus higher insurance rates.

Two more major considerations for home insurance premiums are home age and wind mitigation features, as they both influence your home’s susceptibility to property damage. Certain construction methods and home features affect your home’s ability to withstand strong winds, like those from a hurricane. 

Homes with wind mitigation features have lower premiums, as you’ll see in the tables below., starting with average rates in Land O’ Lakes on $150,000 houses.

Cost of Homeowners Insurance on $150,000 House in Land O’ Lakes 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $3,196 $1,602 $1,495
Citizens $3,484 $2,371 $2,934
Florida Penn $,154 $2,526 $2,451
Liberty Mutual $3,189 $2,060 $2,386
People’s Trust $5,064 $2,946 $3,085
Southern Oak $6,519 $3,740 $2,417
State Farm $6,817 $5,273 $4,424
Stillwater $2,118 $1,542 $1,117
Universal Property $5,703 $2,218 $2,619
Average $4,848 $2,775 $2,761

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 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. 

As you can see, newer homes and homes with wind mitigation had much cheaper home insurance rates in Land O’ Lakes. On older homes, the difference in rates was 42% with and without wind mitigation. See further rates for $300,000 homes below.

Cost of Homeowners Insurance on $300,000 House in Land O’ Lakes 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $5,753 $2,884 $2,613
Citizens $6,271 $4,268 $5,130
Florida Penn $7,477 $4,547 $4,285
Liberty Mutual $5,740 $3,708 $4,172
People’s Trust $9,115 $5,303 $5,394
Southern Oak $11,734 $6,732 $4,225
State Farm $12,271 $9,491 $7,734
Stillwater $3,812 $2,776 $1,952
Universal Property $10,265 $3,992 $4,578
Average $8,726 $4,995 $4,828

Finally, note how the trend continues for average home insurance in Land O’ Lakes, Florida, for homes valued at $450,000. 

Cost of Homeowners Insurance on $450,000 House in Land O’ Lakes 
Company Pre-2001 No Wind Pre-2001 w/Wind 2001-Present
Allstate $8,310 $4,165 $3,737
Citizens $9,058 $6,165 $7,336
Florida Penn $10,800 $6,568 $6,128
Liberty Mutual $8,291 $5,356 $5,966
People’s Trust $13,166 $7,660 $7,713
Southern Oak $16,949 $9,724 $6,042
State Farm $17,724 $13,710 $11,060
Stillwater $5,507 $4,009 $2,791
Universal Property $14,828 $5,767 $6,547
Average $12,604 $7,214 $6,903
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 the Cheapest Homeowners Insurance in Land O’ Lakes

According to our analysis, Stillwater tended to have the cheapest homeowners insurance in Land O’ Lakes. But, you may be able to find affordable coverage from other carriers, too, as rates vary by policyholder and location.

Stillwater was founded in Jacksonville in 2000 and currently offers its insurance products nationwide. While it isn’t as well known as other national brands like Allstate and State Farm, it may have some affordable insurance policies in Florida.

However, you won’t know which company has the best rates for your situation until you get quotes. Many factors affect rates, including your location, home features, and company business decisions. A carrier can raise or lower prices from year to year or in certain regions based on their financial needs. 

You should always shop around to find the best rates. Don’t settle for the first quote you get. You won’t know which company has the most affordable premiums for your circumstances unless you compare multiple options

Land O’ Lakes Homeowners Insurance Coverages

A typical home insurance plan, formally known as an HO3 policy, consists of several key coverage areas:

Land O’ Lakes Homeowners Insurance Coverages
Coverage Definition
Dwelling Coverage Dwelling coverage in a homeowners insurance policy financially protects the structural components of your home, such as the roof, walls, foundation, flooring, wiring, water heater, pipes, and more.
Other Structures Coverage Other structures coverage provides protection for fixtures on your property separate from your main house, including detached garages, sheds, carports, and more.
Personal Property Coverage Personal property coverage covers belongings in and around your home, such as furniture, clothing, electronics, tools, jewelry, and more.
Loss of Use Coverage Loss of use coverage comes into play if your home becomes uninhabitable due to a covered event. Your insurer can cover temporary living expenses, such as groceries, gas, and food, while you’re displaced.
Liability Coverage Liability coverage offers financial protection in case someone is injured on your property or if you accidentally cause property damage. Your insurer can help cover medical bills, legal fees, and more.
Medical Payments Coverage Medical payments coverage pays for minor medical expenses if someone is injured on your property, regardless of fault.

These coverages will largely remain the same no matter which company you get your plan from. 

How to Get the Best Homeowners Insurance in Land O’ Lakes, Florida

The best homeowners insurance in Land O’ Lakes covers your home and belongings sufficiently at a price that works for you. You should compare plans from a few different providers to find the best deal.

Recognize Coverage Needs

Note what damage and structures are included and excluded in your policy details. For instance, home insurance doesn’t cover sinkholes, floods, or earthquakes. Some insurers offer endorsements that can help, but in many cases, you’ll need a separate policy if you’re concerned about such disasters.

Policies also provide limited coverage for valuables. Jewelry and art are typically only covered up to $2,500. If you have items that cost more, you may want to consider scheduled personal property coverage.

Look for Discounts

The price of homeowners insurance in Land O’ Lakes may seem steep, but there are ways to save money. A major cost-cutter is wind mitigation, as evidenced in the above rates. Florida insurers must reduce premiums for homeowners who outfit their homes with hurricane-resistant features. You can also raise your deductible to lower premiums.

Ask about discounts you can receive when shopping around. Many insurers offer discounts for security systems, for instance. You can also save money by bundling policies.

What You Should Know About Flood Insurance in Land O’ Lakes, Florida

As the town’s name suggests, Land O’ Lakes has several bodies of water in and around it. While residents are largely shielded from flooding from the Gulf of Mexico, flash flooding is still possible in the community.

Understanding and realizing your flooding risk is important because homeowners insurance doesn’t cover flood damage. You need a separate policy for flood insurance.

Flooding can be caused by thunderstorms, hurricanes, mudslides, and erosion and can be compounded by drainage issues in your property or community. According to the Federal Emergency Management Agency, floods are America’s most common and costly natural disaster. Anywhere it can rain, it can flood.

Consider flood insurance in Land O’ Lakes for more complete protection from the elements beyond what home insurance can offer you.

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?

Cost Factors of Home Insurance in Land O’ Lakes, Florida

The cost of homeowners insurance in Land O’ Lakes generally ranges from 3,461 to $8,907 annually, but you may pay less or more than this depending on many factors. Some of the most critical factors influencing premiums relate to your property and policy details.

Property characteristics: The location of a home is a primary factor in determining premiums. Homes in flood zones or high-crime areas may have higher premiums. Alternatively, homes close to fire stations can receive a discount.

Home location, construction, and features can influence the cost of home insurance in Land O’ Lakes. Houses in flood zones or high-crime areas can have higher rates due to their increased chances of property damage. Conversely, homes near fire stations can receive discounts.

Homes built with brick or concrete are more fire- and wind-resistant than wooden frame houses and often have lower rates. Certain features, such as trampolines and pools, are termed attractive nuisances because they increase your liability risk and tend to increase premiums. 

Policy details: The coverage limits you select directly impact premiums. The more coverage you get, the higher your rates will be. Additionally, adding endorsements to your policy for extra protection will increase insurance costs. Your deductible also affects rates. The deductible is the amount you pay out of pocket before you can invoke your insurer’s help in a claim. Opting for a higher deductible reduces your insurer’s likelihood of paying out a claim, which lowers your rates.

Is Home Insurance Required in Land O’ Lakes?

If you have a mortgage on your home, your lender will almost certainly require homeowners insurance in Land O’ Lakes. This is to protect their investment in the property. 

Lenders want to ensure that if your home is damaged or destroyed, there’s financial coverage to repair or replace it. That way, neither you nor your lender lose the money put into purchasing your home.

While no law requires you to get home insurance if you don’t have a mortgage, we recommend you maintain a policy. Otherwise, you risk paying for all potential property damage out of your own pocket.

How to Get Home Insurance Quotes in Land O’ Lakes

If you want help during your insurance search, we’re there for you. We’re Clovered, an independent insurance agency. Independent agencies offer personalized help during the quoting process. And, since we’re headquartered in South Florida, we partner with several of the top home insurance companies in Land O’ Lakes to help you compare your options.

Get quotes on our website with our proprietary engine, or give us a call at 833-255-4117 during business hours to chat with one of our licensed agents. You can also email us 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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