Homeowners Insurance in Riverview, Florida (2024)

With a population approaching 80,000 and growing, those living in the city enjoy nearby professional sports, tons of outdoor activities and, arguably the most important, reduced housing prices than their neighbors in Tampa and St. Pete.

Lower real estate costs come with many perks, including a reduced cost of home insurance in Riverview, Florida. So let’s take a look at average costs, where to find the best agency and so much more that you need to know if you own a house in this incredible city.

Due to its proximity to Tampa and location in Hillsborough County, the average cost of homeowners insurance in Riverview, Florida, is $3,610 per year for a $150,000 house, $6,541 for a $300,000 house, and $9,379 for a $450,000 house. When compared to Florida’s averages for similarly priced homes, that’s not too bad.

While Florida homeowners have seen dramatic increases in their premiums over the last few years, several insurers have announced 0% increases in the state for 2024. While this should be good news for all homeowners, some may already face unaffordable rates. 

But average prices are just that — averages. A lot goes into the pricing of policies, including your coverage amounts, deductibles and which insurance company you choose. We’ll be focusing on the latter aspect in the next few sections.

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.

When accounting for the average cost of home insurance premiums, there’s a lot more that goes into pricing than just the aforementioned factors. In Florida, the biggest determinant is whether or not your house has features in place to mitigate wind damage.

In 2001, the state’s building codes changed. Legislation was put in place to ensure home builders were properly accounting for hurricane and tropical storm winds and building homes that could withstand both. Of course, the legislation didn’t have any mention requiring homeowners living in pre-2001 construction houses to enact these changes.

But it did require insurers to offer steep discounts to homeowners who willingly went out and made these changes. After all, making these changes protects houses better against high winds. So let’s break down the numbers even further.

As you can see, homeowners living in post-2005 construction homes and those living in pre-2001 construction homes with wind mitigation features, in effect, enjoy premium prices well below the city and state average.

Those in the first category average $2,753 per year — and as low as $899 and $1,894 per year with State Farm and Tower Hill. The latter category of homeowners average $2,934 per year and as low as $1,205 and $1,900 with the same two companies previously mentioned.

But averages account for all the premiums of said company. So, if you meet coverage criteria and have a solid insurance score, there’s a chance you could pay $1,000 less per year for your coverage.

However, good news is often always associated with some form of less-than-stellar news. In this case, the drawbacks come in the form of steadily rising real estate costs. While we’ve outlined premium prices for $150,000 houses in Riverview, it may be tough to come by a house for that price anymore. That’s why we’ve broken down the numbers for $300,000 and $450,000 homes.

If you’re looking for the best Riverview home insurance agency, you’ve already found them! At Clovered, we partner with the city’s top insurers to ensure you always get the best policy at the best prices. Whether you want a policy from Citizens, Universal Property & Casualty Insurance Company, State Farm, People’s Trust, or an array of others, look no further than Clovered.

Simply enter a few details about your home into our online quoting engine and then we’ll run some risk data in the background, determine how much coverage you need and then provide a policy that fits your needs and your budget.

What’s even better is that it only takes a few minutes to complete a quote, and you can do it from the comfort of your own home — or on your cell phone. If you want to speak to a real person, we’ve got that too.

Clovered is located at the intersection of technology and real people, so we have a team of sales and service agents ready to answer any questions you may have about the process — or simply to provide comfort in the fact that you’re making a big purchase and assure that this is the right decision.

One thing to note about Citizens, though, is that it operates as a non-profit insurer for those who struggle to find affordable premiums on the standard market. Even still, Citizens is facing some rate hikes effective in 2025, with Hillsborough County looking at about a 12% increase in premiums. 

From unexpected perils involving mother nature like hurricanes and tornadoes to mostly human-caused perils like fires, burglary and water damage, your homeowners insurance in Riverview, Florida covers your house and personal belongings while giving you the utmost peace of mind.

Dwelling coverage helps you cover the components that make up your home’s structure from damage caused by a covered peril. This may include your foundation, roof, fireplace, windows, and much more. It’s sometimes called Coverage A. 

Other structures coverage protects the elements of your property that aren’t attached to your main home should a covered peril damage them. These elements may include structures like a fence, shed, carport, detached garage, or pool. It may also be referred to as Coverage B. 

Personal property coverage helps guard all the items you store on your property, should a covered peril damage them. This may include items like your porch furniture, appliances, or your closet full of designer shoes. It’s also known as Coverage C.

Loss of use coverage may help you cover the expenses you incur if your home becomes unlivable due to damage from a covered peril. It may help you pay for necessities like lodging, groceries, or gas. It may sometimes be called Coverage D.

Personal liability coverage may help you if you’re found liable for a guest’s injuries on your property or for damage to someone else’s property. You may be able to use this coverage for legal fees or medical expenses. It can also be called Coverage E.

Medical payments coverage may be used to cover medical expenses if a guest suffers minor injuries on your property. It’s sometimes known as Coverage F.

One of the most common misconceptions about flooding is that you’re covered if you have a home insurance policy. Unfortunately, that’s not the case. Home insurance only provides protection for certain instances of water damage, but flooding isn’t included on that list.

To be covered for floods, you need to have a separate flood insurance policy in place. The good thing is that getting flood insurance is quick, easy and costs just a fraction of the price of homeowners insurance.

Since much of Riverview is located in some form of FEMA-designated flood zone, meaning there’s a high chance of experiencing flood damage at least once during the life of a 30-year mortgage, nearly every resident in the city needs it and everyone should have it.

While flood insurance isn’t required by law, there’s a good chance your mortgage lender will require you to keep sufficient flood insurance at all times while you still owe money on your home.

Considering just 1 inch of floodwater can cause up to $25,000 worth of damage and a policy may only cost you $300 to $600 per year, that’s a small price to pay for protection and peace of mind.

As we mentioned earlier, we’re one of the top home insurance agencies in Riverview and we partner with the city’s and state’s top insurers so we can provide everyone a sufficient policy at an affordable price.

Simply enter a few details about your home in our online quoting engine and we’ll do the rest to get you a policy in just a few minutes. You can also reach one of our licensed agents or service members Monday through Friday from 8:30 a.m. to 6 p.m by calling 833-255-4117 or email them anytime at [email protected].