Average Annual Cost of Homeowners Insurance in Lutz Homeowners insurance isn’t required by law in Lutz. But, mortgage lenders typically require you to maintain home insurance if you’ve got a mortgage. If you fail to maintain the required insurance coverage, your lender can force insurance on you. Force-placed insurance can be an expensive and less comprehensive option, so it’s in your best interest to find and maintain your own home insurance.
Key Takeaways
- The average homeowners insurance cost in Lutz, Florida, is about $3,323 annually.
- American Integrity, Slide, and Edison had the cheapest home insurance in Lutz, according to our agency data.
- You should always compare quotes from multiple companies before buying home insurance so you find the best deal and coverage while avoiding overpaying.
How Much Is Homeowners Insurance in Lutz, Florida?
The average cost of homeowners insurance in Lutz is about $3,323 per year, which is 16% higher than Florida’s state average of $2,857 annually.
Florida sits near the top of the list of states with the most expensive home insurance due to hurricane risk and generally high property values. While Lutz properties are far more inland than many Hillsborough and Pasco County homes, the area is still susceptible to hurricane damage on the Gulf of Mexico side, which may increase insurance costs.
As an independent agency in Florida, we’ve helped thousands of residents find coverage. Several have been in the Lutz area. We want to list these real, average premiums from our Lutz policyholders to help others looking for insurance in the area understand what their costs could be.
|
Company |
Average Premium |
|---|---|
|
American Integrity |
$2,017 |
|
Slide Insurance Company |
$2,888 |
|
Edison |
$3,088 |
|
American Platinum |
$3,28 |
|
Swyfft |
$3,844 |
|
Florida Peninsula |
$4,039 |
|
Southern Oak |
$4,762 |
|
Average |
$3,323 |
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 Cheapest Homeowners Insurance in Lutz, Florida
Based on our internal data, American Integrity and Slide had the cheapest homeowners insurance in Lutz. It’s important to note, though, that you can’t be sure which company will be your cheapest choice until you get quotes, as rates vary by location, company, and person.
American Integrity has been around for many years, while Slide is one of several newer Florida-based insurers established after legislative reforms in 2022 and 2023 helped revive Florida’s insurance market, which had been struggling badly.
A notable omission on our list is Citizens, Florida’s state-run insurer of last resort. Citizens operates differently than insurers in the standard marketplace, as it’s a not-for-profit organization designed to offer affordable policies to those who can’t find reasonable coverage normally. You qualify for Citizens if you get three quotes from standard carriers that are over 20% higher than your Citizens quote.
Our team at Clovered can bind you a policy with Citizens if you qualify. But, our Lutz policyholders have found policies with a diverse range of companies that doesn’t include Citizens, which could signal a healthy and competitive marketplace in the Lutz area, which bodes well for residents looking for a deal.
The Best Homeowners Insurance Companies in Lutz, Florida
The best home insurance company in Lutz isn’t necessarily easy to pinpoint, since people will weigh factors such as cost, coverage options, discounts, and customer service differently. The choice is rather subjective, but we can present details on our partner companies to help you with the decision.
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.
American Integrity Insurance
Demotech Rating
A
NAIC Complaint Index
1.48
Average Premium
$2,017
Established in 2006, American Integrity Insurance has become one of the five largest home insurers in Florida with over 300,000 policyholders in the state. Since its founding, the company has expanded its coverage to Georgia and South Carolina and gone public, trading on the New York Stock Exchange.
Slide Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.56
Average Premium
$2,888
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
$3,088
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.
American Platinum
Demotech Rating
A
NAIC Complaint Index
1.95
Average Premium
$3,281
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.
Swyfft
Demotech Rating
NR
NAIC Complaint Index
NR
Average Premium
$3,844
Swyfft is an insurance managing general agency founded in 2014, offering insurance products in several coastal states around the country.
Florida Peninsula
Demotech Rating
A
NAIC Complaint Index
0.10
Average Premium
$4,039
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.
Southern Oak Insurance Company
Demotech Rating
A
NAIC Complaint Index
0.20
Average Premium
$4,762
Southern Oak Insurance Company is a private home insurer that has been providing coverage to state residents since 2004. Its policies are primarily available only in Florida through a statewide network of independent agents, such as Clovered.
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.
Lutz Homeowners Insurance Coverages
Home insurance policies are separated into different coverage areas based on the property aspects the plan covers. A policy typically contains the following coverages, regardless of which company provides it.
|
Coverage |
Definition |
|---|---|
|
Dwelling Coverage |
Typically, the core component of a policy, dwelling coverage, or Coverage A, covers the physical structure of your home. This will include the walls, floors, foundation, fireplace, and much more if a covered peril on your policy damages them. |
|
Other Structures Coverage |
Other structures coverage, or Coverage B, extends coverage to features on your property not attached to the main house. This can include sheds, fences, detached garages, carports, pools, and more if a covered peril damages them. |
|
Personal Property Coverage |
Personal property coverage, or Coverage C, financially protects your belongings inside and around your home, including furniture, small appliances, electronics, clothing, bicycles, art, and more if they’re damaged by a covered peril. |
|
Loss of Use Coverage |
If your home becomes uninhabitable due to a covered peril, loss of use coverage, or Coverage D, may help you pay for expenses while you move out, such as lodging, gas, food, and more. |
|
Liability Coverage |
Liability coverage, or Coverage E, can come into play if you’re legally found responsible for injuries to someone else or damage to their property. Your insurer can cover medical bills, legal fees, and more. |
|
Medical Payments Coverage |
Medical payments coverage, or Coverage F, may help you pay for minor medical expenses incurred by individuals hurt on your property. |
How to Get Homeowners Insurance Quotes in Lutz, Florida
We outlined a lot of information to help you make a well-informed decision to ensure that your home is adequately protected. But, our help doesn’t have to end there. Our team at Clovered can help you with homeowners insurance quotes in Lutz online or over the phone.
Our proprietary quote tool enables you to compare rates and plans from our partners, some of the top home insurance companies in Lutz.
But, if you’d rather speak to a licensed home insurance agent for your quote, you can call us at 833-255-4117 during business hours. We’re based in South Florida, so you’ll be chatting with a fellow state resident about your coverage. You can also 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.
Lutz Home Insurance FAQs
Is homeowners insurance required in Lutz, Florida?
What is wind mitigation in Lutz?
Wind mitigation refers to fortifying your home to help it better withstand strong winds, like those from hurricanes. This is done through construction methods and home features, from roof shape and attachments to hurricane windows and door installation. Insurance companies are legally required to discount premiums for homeowners whose properties have passed wind mitigation inspections.
What factors determine Lutz home insurance rates?
Insurers examine several aspects about your home to determine rates, such as location, age, and construction. Older houses often have higher rates due to wear and tear. Masonry homes can withstand wind and fire damage better and often have lower premiums than frame houses. Other factors will raise your premiums because they increase your liability risk. For example, having trampolines, pools, or other attractive nuisances at your property increases the chances of personal injury and often raises rates.
Do you need flood insurance in Lutz, Florida?
You only need flood insurance in Lutz if mandated by your mortgage lender, which would only happen if your property is in a high-risk flood zone according to the Federal Emergency Management Agency (FEMA) flood maps. FEMA creates flood risk maps for the country. If you have or seek a mortgage on a house in a high-risk FEMA flood zone, your lender will require flood insurance in addition to homeowners insurance.
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.
