Homeowners Insurance in St. Petersburg, Florida

St. Petersburg is arguably the sunniest city in the Sunshine State, holding the Guinness World Record for most consecutive days of sunshine at 768. On top of this, St. Pete is home to beautiful beaches and a vibrant arts scene.

Additionally, its reasonable cost of living while being so close to the beach is a major draw. St. Petersburg homeowners insurance is pretty attractive, too. 

It costs around the state average, but it’s significantly cheaper than rates in other notable coastal cities in Florida, like Miami and Fort Lauderdale.

On average, home insurance in St. Petersburg, Florida, costs about $2,664 annually, or about $244 less than the average rate in the state of $2,924 annually. 

A big reason behind this cost is the city’s vulnerability to hurricanes from the Gulf. In Florida, the chance of severe weather throughout the state is something all insurers consider. Let’s look at what companies are charging for St. Petersburg home insurance on average.

From the numbers above, it seems Swyfft and Edison offer the cheapest home insurance in St. Petersburg. However, their affordability may differ when accounting for two major cost factors – wind mitigation and home age.

Homeowners insurance in St. Pete is highly variable depending on several factors about you, your home, your policy, and insurer. When insurers determine your premiums, they’re assessing your risk of filing a claim. If you have an older home that isn’t fit to sustain those famous coastal Florida winds, you’ll likely have higher premiums.

Wind mitigation makes a big difference in your rate. It can save you thousands of dollars while improving the safety of your home. Newer houses tend to have more effective wind mitigation measures already built in, like impact-resistant windows or doors, which is why these homes can be cheaper to insure.

However, older homes, like those built over 20 years ago, weren’t built with such materials and, thus, can be at-risk during hurricane season. However, homeowners who install wind mitigation features on their older homes may be up for a discount on their premiums. 

Your home is likely the biggest investment you’ve made in your life. It seems only natural to financially protect it from disaster. This is where home insurance comes in. When purchasing a homeowners insurance policy, you’re not only safeguarding your home but other aspects of your life and property too:

Calculating risk is a large part of determining the cost of a premium. The way each insurance company does it varies, but we know that some factors are calculated no matter what. These include:

Beyond these, another significant consideration for St. Petersburg homeowners insurance is the chance of natural disaster. 

The threat of hurricanes and tropical storms is the primary reason why premiums are so expensive in Florida in the first place. Unfortunately, St. Pete’s position on the Gulf of Mexico puts it in one of the worst spots to be in as far as hurricanes are concerned. 

The St. Petersburg, Florida, hurricane season lasts from June to November, and residents always have to keep an eye on the weather radar to brace for the big one. Just recently, the St. Pete area felt pretty serious effects from Hurricane Irma in 2017 and experienced a close call with Ian in 2022.

Florida’s insurance market may be showing some early sgns of stabilization in 2024 and into 2025, although the region endured a rough couple of hurricane seasons lately that may affect renewals and premiums in the area adversely.

Your homeowners insurance should offer some peace of mind, though, since it covers most instances of hurricane damage. As we touched on above, a policy provides coverage for the structures on your property, your personal belongings and loss of use coverage should you need it.

A lot of the land in St. Petersburg consists of FEMA-designated flood zones, especially properties along the Tampa Bay Channel. Living in one of the many St. Petersburg flood zones affects insurance rates since the government has determined that you’ve got a higher chance of being inundated by water. 

Homeowners insurance doesn’t cover damage from flooding. Floodwaters in St. Pete can accompany a tropical storm or be brought on by typical seasonal rainfall. Flooding damage is very common and can be incredibly costly. The only way to be completely covered from flood damage is to purchase flood insurance in St. Petersburg, Florida. A flood policy protects the structures on your property and your personal belongings, but it isn’t required by law.

However, the Pinellas County government website recommends everyone purchase flood coverage as a precaution. Also, if the risk of your zone is high enough, your mortgage lender may require you to purchase flood insurance in St. Petersburg.

Universal Property & Casualty Insurance Company is a popular insurance carrier in St. Petersburg. As one of the largest and longest-standing providers in Florida, they’ve got plenty of experience dealing with the natural disasters residents can experience. They’ve been writing policies for over 20 years in the Sunshine State.

If you’re looking for home insurance in St. Pete, Universal may be a bargain waiting just around the corner. To see which company can offer you the right coverage at the best rate, be sure to utilize Clovered’s online quote engine. Clovered can pair you with a tailored policy and compare quotes from top providers in the state.

You can also call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m, or you can shoot us an email at agent@clovered.com to hear from a licensed and qualified agent.