Average Largo Home Insurance Cost by Company Insurers consider several variables to calculate appropriate premiums, in Largo and everywhere else across the country. Many of the cost factors of home insurance in Largo have to do with property features and policy details, like your home’s age, replacement cost, wind mitigation features, policy coverage limits, the number of add-ons you have on your policy, and more.
Key Takeaways
- The average home insurance cost in Largo, Florida, is about $2,479 annually.
- If you’re searching for a policy with below-average premiums, TypTap and American Platinum are some of the cheapest home insurance companies in Largo, Florida, according to our customers.
- The best Largo home insurance isn’t a one-size-fits-all policy, but a unique policy that best suits your coverage and financial needs.
The Average Homeowners Insurance Cost in Largo, Florida
The average Largo home insurance cost is about $2,479. Florida overall has some of the highest home insurance rates in the nation, averaging at about $2,857 annually. This is due to a combination of hurricane risk, skyrocketing property values, and inflation.
Despite the city’s location on the Gulf, our customers pay, on average, about 13% less than the state’s average home insurance cost. Home insurance rates in this Florida city are on par with the state average because insurers are wary of possible hurricane damage. Hurricane Ian in 2022 and Hurricane Idalia in 2023, which devastated nearby regions, only support their concern.
We have many customers in this Florida city, so we can get a clear picture of Largo home insurance rates by analyzing our customers’ premiums. Let’s take a look at what our customers pay, on average, for home insurance in Largo.
| Company | Average Premium |
|---|---|
|
TypTap |
$1,891 |
|
American Platinum |
$2,471 |
|
Florida Peninsula |
$2,801 |
|
Citizens |
$3,237 |
|
Average |
$2,479 |
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Average rates vary by carrier, as you can see in the table. What can’t be seen is how average premiums increase as home value increases. This occurs because, as the value of your home increases, the cost to rebuild or replace it with similar materials and features also rises.
Insurers refer to this cost as the replacement cost of your home. Naturally, larger, more extravagant homes cost more to rebuild. Note that the replacement cost of your home isn’t the same as its market value.
Home value is one of the many factors that influence home insurance rates. Two other critical factors are home age and wind mitigation. Older homes tend to have higher premiums. Due to wear and tear and outdated construction techniques, older houses are more likely to suffer damage and cause claims.
Wind mitigation is particularly important for home insurance in Florida because the state is so prone to hurricanes and severe windstorms. Wind mitigation measures are steps taken to strengthen a home’s resistance to wind damage, and they can significantly impact the cost of homeowners insurance premiums in Florida.
Who Has the Cheapest Homeowners Insurance in Largo, Florida?
For our customers, the companies with the cheapest Largo home insurance are TypTap and American Platinum. While the average cost of home insurance in this city is below the state average, rates vary for each policyholder and may be above or below average depending on some factors about you and your home.
Despite the subjectivity of home insurance premiums, our customers with Largo home insurance consistently find the lowest rates with two of the leading insurers in the Sunshine State. Let’s check out how these insurers offer cheap home insurance in Largo, Florida.
TypTap
TypTap offers the cheapest home insurance in Largo for our customers. On average,our customers pay about 24% below the city’s average rate when they use TypTap as their home insurance provider. On top of below-average rates, this insurer also offers discounts for those looking to reduce their premiums even further. Namely, the wind mitigation discount for those with homes that have impact-proof features can help you save hundreds on your annual premium.
American Platinum
When binding with American Platinum, our customers pay, on average, nearly the same home insurance cost as the city’s average. While rates from this insurer may be in line with the city’s average, it’s important to note that the city’s average is already below the average rate in the state. Additionally, American Platinum offers several discount options that may help you lower your premiums even more. Their security system and wind mitigation discounts can help you lower your premiums well below the city’s average.
Getting the Best Home Insurance in Largo, Florida
Getting the best Largo home insurance will look different for each policyholder, as values differ when it comes to coverage. What may be the best policy for your neighbor may not be the best for you. So, in order to find the best policy, you must first determine your priorities.
Essentially, it comes down to whether cost or coverage matters more, or what a good compromise between the two looks like for your needs. Once you’ve determined what you value most, it’s time to search for an insurer that can provide the best policy for your needs.
Our customers in Largo have policies with several of the leading home insurance providers in the Sunshine State. Let’s take a closer look at some information about these providers to help you determine who to trust with your protection.
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.
TypTap
Demotech Rating
A
NAIC Complaint Index
1.48
Average Premium
$1,891
TypTap Insurance Company was founded in 2006 and offers home insurance in over a dozen states. It’s primarily distributed through independent agents, like ours at Clovered.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$2,471
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.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$2,801
Florida Peninsula Insurance Company was founded in 2005 and focuses on offering coverage in its namesake state. With over 150,000 policies in force in Florida, it just cracks the top ten list of Florida’s largest home insurers.
Citizens
Demotech Rating
NR
NAIC Complaint Index
0.69
Average Premium
$3,237
Citizens Property Insurance Corporation is Florida’s state-run home insurer of last resort. It’s a non-profit entity that provides property insurance to state residents who are unable to obtain coverage in the traditional, private market.
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Largo Homeowners Insurance Coverages
A standard Largo homeowners insurance plan typically includes the following coverages, no matter which company you purchase it from.
| Coverage | Definition |
|---|---|
|
Dwelling Coverage |
Dwelling coverage in homeowners insurance financially protects the physical structure of your home, such as the walls, roof, floor, foundation, balconies, patios, pipes, and more. |
|
Other Structures Coverage |
Other structures coverage safeguards features on your property that are not part of your main dwelling, like a detached garage, fences, sheds, gazebos, and more. |
|
Personal Property Coverage |
Personal property coverage insures your belongings, both inside and outside your home, such as electronics, clothing, furniture, bicycles, art, jewelry, and more. |
|
Loss of Use Coverage |
Loss of use coverage helps cover additional living expenses, such as temporary lodging and meals, if your home becomes uninhabitable due to a covered event. |
|
Liability Coverage |
Liability coverage provides financial protection if you’re legally responsible for injuries to others or damage to their property. |
|
Medical Payments Coverage |
Medical payments coverage pays for medical expenses if someone is injured on your property, regardless of fault. |
How to Get Home Insurance Quotes in Largo, Florida
Comparing multiple rates is the best and only way to find home insurance savings. Shopping for insurance can be easier with the right home insurance agency in Largo, Florida. Independent agents work with several companies to find the right coverage provider for you.
Our team at Clovered, based in South Florida, is very familiar with the Florida insurance market. We work with the top carriers in the state to find you the best Largo home insurance quotes on the market.
You can call our team at 833-255-4117 during business hours to quote over the phone. Or, you can use our proprietary online platform to get homeowners insurance quotes in Largo on your own time. You can also email us at agent@clovered.com with any questions you may have.
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.
Largo Home Insurance FAQs
What Affects the Average Cost of Home Insurance in Largo, Florida?
Is Home Insurance Required in Largo?
The only time homeowners insurance is required is when you have a mortgage, as lenders stipulate insurance policies in their home loans. Otherwise, there are no laws that require home insurance in Largo. Lenders mandate homeowners insurance policies to protect their investments. If your house is destroyed, you and your lender could get back the money you’ve put into the property from the insurance policy.
Do I Need Flood Insurance in Largo, Florida?
While it isn’t legally required, you may need flood insurance in Largo if your lender requires it, which will occur if your house in in a federally designated high-risk flood zone. Sandwiched by the Gulf of Mexico and Tampa Bay, Largo’s location makes flooding a significant concern for nearly every resident, even if not in a flood zone, as indicated by the Federal Emergency Management Agency (FEMA), which creates the country’s flood risk maps.
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.
