Homeowners Insurance Quotes in St. Petersburg, FL

What You Should Know About Home Insurance in St. Petersburg

Located in the Sun Coast region of Florida, St. Petersburg began as a resort town in the late 1800s and continues to rely on tourism to this day, along with industries such as financial services, data analytics, specialized manufacturing, and marine sciences. Lying on the coasts of Tampa Bay and the Gulf of America, the city has some of the most beautiful beaches in the Sunshine State. Wooded trails, campgrounds, recreational trails, fishing piers, canoe trails, boat launches, and many other outdoor delights overwhelm the shores of St. Petersburg. Several small, pristine islands with preserved lands and parks are also available via boat ride from the city.

Enjoy the three-day St. Pete Run Fest, the SHINE Mural Festival, and the Grand Prix of St. Petersburg, all famous annual events that make the city stand out. Localtopia is an amazing business alliance that showcases local establishments through food, culture, and dance, keeping residents informed about neighborhood companies that would appreciate their business.

With all the excitement in St. Petersburg, remember to ask your expert InsureOne agent to help you find the best homeowners insurance at the best price in Florida so you always have the financial protection you need to repair or replace your home if a covered peril occurs.

How Much Does a Homeowners Insurance Policy Typically Cost in St. Petersburg?

St. Petersburg generally has low rates compared to the United States average, but insurers view every home differently. Your personal quote will account for the size of your home, the materials it is made of, and a variety of other factors pertaining to yourself, your house, and your neighborhood. The following chart indicates average premium costs in the city and national averages for similarly priced homes.

Dwelling Insurance Total	Average Annual Cost in St. Petersburg	Average Annual Cost Nationwide
$300K	$1,719	$2,582
$600K	$3,266	$4,140
$1 million	$5,312	$7,380

We arrived at these numbers by using the cost of dwelling coverage, a $100,000 liability and a standard $1,000 deductible.

How Do Home Insurance Deductibles Change Insurance Rates in St. Petersburg?

Insurers generally want you to be somewhat liable when you file a claim. They will ask you how much you are willing to pay — usually between $500 and $5,000 — toward damages that occur through a covered peril before the insurer begins paying. This dollar amount is called your deductible. If you make your deductible $1,000 and you have a $700 claim, your insurer would be off the hook. If the claim is for $2,500, your insurer would only pay you $1,500 since you agreed that you would pay the first $1,000.

If you choose a high deductible, your insurer will lower your rates because you are less likely to file smaller claims. Even for larger claims, your provider gets to deduct a substantial amount from what they are supposed to pay. The opposite happens when you choose a low deductible — your insurer is responsible for more, and you are more likely to file small claims. Insurance companies look very closely at the likelihood they will have to pay for a loss and how much they might have to pay, which is why they base their rates, in part, on the deductible amount you choose.

Is Home Insurance Tax Deductible in St. Petersburg?

Your homeowners coverage is only tax deductible if you can claim it as a business expense. Some examples include:

• You use the entire home for your business
• You use part of the house as a home office
• You store goods from your business at the home
• You rent part of your home to tenants
• You rent the entire house to tenants

In those cases where a portion of the home is used for work or as a rental, only a portion of your premiums is deductible. If you simply live in your home, you cannot claim your homeowners policy as a deduction on your tax return.

Although this is all pretty much how it works, as with all such questions, you should consult your tax professional to double-check if you are or are not entitled to a deduction.

Does St. Petersburg Have the 80% Homeowners Insurance Rule?

The 80% rule is an industry standard — not a law — that requires your coverage amount to be equal to or greater than the replacement cost of your house. If your home would cost $200,000 to replace, most insurers in St. Petersburg would make you obtain at least $160,000 in replacement coverage.

You do not have to worry about keeping track of your home’s replacement cost because your InsureOne agent will work out the numbers with you at the onset of your policy and when you call them to renew it to help you comply with the 80% rule.

Bundling Home and Auto Insurance in St. Petersburg

You may have heard of the concept of bundling your home and auto coverage or various other types of policies. This simply means getting more than one policy with the same insurance provider. People like to bundle policies because of the advantages of doing so.

A typical example would be asking your agent to help you with a car insurance policy once they are already working on getting you your home coverage. Instead of dealing with a different agency for the second policy, you get to deal with the same expert agent you already trust, and you get to pay your bills at one site instead of paying each one individually. You can also receive a discount of up to 25% off your premiums as a gesture of appreciation for giving your provider more of your business.

Most importantly, you do not need to take any additional steps to receive this bundling discount. Your InsureOne agent will do all the price shopping with multiple carriers and policy comparisons for you. Their white-glove services include delivering a customized package of policies with the best coverage at the steepest discount available.

How Does Home Composition Impact Insurance Rates?

For insurers, it is very important to know how well protected your home is and how much it would cost to repair or replace. Every material type affects your rates differently. Vinyl siding will melt easily — it could even happen if your barbecue grill is too close to your house — but it is cheaper to replace.

Stucco siding is more protective against fires but also costs more to replace. For various materials that make up your home, your insurer will adjust rates based on both of these factors — replacement cost and the level of protection from the elements they provide.

What Are the Different Types of Homeowners Coverage Offered in St. Petersburg?

The type of home you insure and your preferences help determine what types of homeowners policies pertain to you. There are eight varieties with different levels of coverage or varying purposes. These are four of them:

• HO-1 policy: You would get this policy if you live in a home and want the most basic coverage. It protects you from a list of ten perils, such as fire and windstorms, and you would only get the market value if your home is destroyed.
• HO-2 policy: This policy is very similar to the HO-1, but it adds an additional six incidents to the list of covered perils, such as damages that come from the weight of snow as well as freezing pipes.
• HO-3 policy: If you are looking for a more comprehensive policy, this one adds to the previous two. It covers most perils, protects your belongings, provides liability coverage, and gives you replacement cost as opposed to market value if your home is destroyed.
• HO-4 policy: This policy is very different from the previous three in that the HO-4 is specifically for tenants. It protects belongings in a rental unit from the same incidents as the other policies and provides liability coverage but does not cover the building itself.

What Is the Most Common Type of Home Purchased in St. Petersburg?

Over 55% of St. Petersburg’s more than 113,000 apartments or houses are single-family detached residences. There are quieter residential neighborhoods with homes and lots of condos, especially closer to the water. Whether you own or rent in the city, familiarize yourself with the difference between landlord versus homeowners insurance coverage as well as condo or co-op policies. Each of these fulfills a specific need and provides varying levels of protection.

Which Common Natural Disasters Are Covered by Home Insurance in St. Petersburg?

Your policy will cover you for several types of natural disasters. If your home is damaged by these or other calamities, reach out to an expert InsureOne agent to find out if you can file a claim to recoup your losses:

• Rainstorms: Petersburg gets more rain than the national average, which can seep through roofs and foundations if not sealed properly.
• Wildfires: Although not a major risk to homes in the city, wildfires are covered by just about any homeowners policy.
• Hurricanes and related flooding: These are common in the area, but discuss with your agent — the wind damage will be covered but you may need a separate policy for floods.