Homeowners Insurance in Spring Hill, Florida

Spring Hill is a relatively new community, but it’s one of the fastest-growing in the state. You get the perks of being close to the beach, via the Gulf of Mexico, and a big city, Tampa, with more green space and fewer crowds than many more well-known coastal cities.

There’s a lot of natural beauty in and around Spring Hill. It all comes at a bit of a price; home insurance in Spring Hill is expensive due to the increased likelihood of natural disasters like floods and hurricanes. 

Below, we’ll explain what factors into homeowners insurance rates in Spring Hill, Florida and how much it costs on average.

On average, home insurance in Spring Hill costs about $2,881 annually. The average rate in this beachside city is quite close to Florida’s state average of about $2,924 annually. 

The state of Florida tends to have some of the most expensive homeowners insurance in the country due to the high possibility of weather-related perils. Generally, cities along the state’s coasts have higher average premiums, due to the high risk of these houses sustaining storm damage. 

While the city rates come in on par with the state average, you’ll see there are ways to save even more money – we’ll break down average costs from some home insurance companies in Spring Hill.

While your rates will certainly differ based on your insurer, they’ll also differ based on several other factors, like your home’s age and wind mitigation factors. 

Wind mitigation features are protective elements on your home that make it more impact-resistant during high winds from storms like hurricanes. These features may include roof coverings or attachments, impact-resistant doors and windows, and water-resistant sealing, among other materials and techniques suited for high winds. 

Over 20 years ago, Florida legislators passed laws mandating houses be built with such features. However, many homes in the state were built well over 20 years ago. While newly built homes may have these features built in, older homes may be more susceptible to damage without such features.

So, when legislators passed the bill about new construction codes, they also mandated that insurers give hefty discounts to homeowners in older homes who opt to add these wind mitigation features to their homes. So, homes with wind mitigation features are eligible for reduced rates.

However, older homes without wind mitigation features can be expensive to insure, given their risk of sustaining damage during storms with strong winds. Homeowners insurance in Spring Hill or other coastal cities may be well above the average rate without wind mitigation features. 

Wind mitigation and your home’s age aren’t the only factors considered when your insurer determines your premiums. Another main factor insurers use when determining your rates is your home’s value.

As Spring Hill grows, property value in the area will likely increase, which means it’ll cost more to purchase a home. While market value isn’t necessarily a reflection of a house’s replacement cost, you may need more coverage (and have higher premiums) if you have a bigger or more expensive home in Spring Hill.

Homeowners insurance acts as a security blanket in case of natural disaster or other damage to your house that’s out of your control. If you’re unfortunate enough to find yourself in this situation, it can go from bad to worse when you realize you have to pay for all damage out of pocket.

At its worst, homeowners insurance in Spring Hill is another bill you have to pay every month. At its best, a policy can save your home or livelihood from financial ruin. It’s usually worth the peace of mind. Here are all the ways homeowners insurance coverage safeguards you:

Citizens and Monarch National are the most affordable home insurance companies in Spring Hill, Florida, according to the numbers we broke down above. They had the lowest average premiums.

Monarch National has some of the cheapest rates in Spring Hill from the data we collected. In 2022, the well-known insurer Federated National (FedNat) went insolvent, and Monarch National absorbed its policies. Monarch National is an insurer that prides itself on insuring high-risk properties, like those in Florida’s coastal cities, like Spring Hill. 

Citizens had the lowest average rate of the insurance companies in Spring Hill. Citizens is one of Florida’s largest and longest-standing property insurers with over 20 years of experience.

Citizens Property Insurance is a popular choice of residents in Spring Hill, with the lowest rates in the city from the data we collected. Many consumers may not have anywhere else to turn due to the current difficult Florida insurance market.

Citizens is one of the largest insurers in the state. It’s different from most providers – it’s a non-profit company run by the government. It was established in the early 2000s after hurricanes devastated parts of Florida and scarred or financially ruined many private insurance companies.

Citizens was developed as a public option for those deemed too risky to insure by private companies or for those who couldn’t afford other alternatives. The company has restrictions as far as what coverage it provides, and not everyone may qualify for Citizens insurance in Spring Hill.

Citizens has seen an uptick in policyholders as residents struggle to find affordable coverage on the standard market. However, in mid-2024, the insurer is seeing a policy decrease, thanks to new insurers entering the market and taking over some of Citizens’ policies. 

Rates of home insurance in Spring Hill are affected by a multitude of factors. To accurately reflect risk, providers have to take into account many aspects of policyholder life and property that you might not even realize. Some things that affect your rate are:

In addition to this list, we mentioned how inclement weather plays a role in affecting rates, too. Let’s take a closer look at what this entails exactly.

The main drawback of Spring Hill’s proximity to the Gulf of Mexico is the risk of serious hurricane damage. While the city has been safe from major storms lately, it felt some effects of Hurricane Hermine in 2016.

A home insurance plan includes financial protection from hurricanes and tropical storms. But their consistent threat to the coasts of Florida is one of the main reasons for high homeowners premiums in the state.

When dealing with home insurance and hurricanes in Florida, it’s important to understand your hurricane deductible and how you’re covered from Spring Hill, Florida hurricane damage. Your policy will reimburse you for most instances of damage from debris or winds.

The Spring Hill community has many A, AE, and X-labeled flood zones, per the Federal Emergency Management Agency. FEMA creates flood zone maps for the country that serve as a basis for insurance rates. This is important because home insurance excludes damage from flooding in Spring Hill, Florida.

You’d need to purchase a separate flood policy either through a private insurer or agency like Clovered or the National Flood Insurance Program to cover your home and belongings from damage related to floods. Florida receives a lot of rain every year and some areas of Spring Hill have been developed in floodplains. Thus, it’s always wise to purchase a flood insurance plan.

The earth under Spring Hill and the surrounding area is made of limestone. The many bodies of water around the town and consistent rainfall the area receives wear down this limestone, which can cause a lot of sinkholes around the Florida city. In fact, Spring Hill ranks as the number one city for verified sinkholes, with Hernando, Hillsborough and Pasco counties filing the most claims for sinkhole damage in the state.

Sinkhole damage isn’t usually covered under a standard homeowners insurance policy unless it’s very extreme. Florida lawmakers require providers to protect against “catastrophic ground cover collapse,” but this is only applicable if your house is rendered unlivable by a sinkhole and you’re required to evacuate.

To protect your property from Spring Hill, Florida sinkholes, big or small, you’d need to purchase extra sinkhole coverage, which is always optional.

No one wants to pay more than they have to for homeowners insurance. We’ve already got enough bills to pay. But, how do you know you’re getting insurance that’s right for you?

The best way to get the most bang for your buck is with Clovered. Our online quote engine enables you to tailor a plan that meets your Spring Hill home insurance needs and to compare rates of top companies in the state.

At Clovered, we want you to be better informed and better insured. For more information, call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. Or you can email us anytime at agent@clovered.com.