st. petersburgFinding Homeowners Insurance in St. Petersburg, Florida

St. Petersburg, also known as “The Sunshine City,” averages 361 days of sunshine each year. No wonder Kin decided to open up our second-ever office here

In addition to being a tech hotspot, St. Petersburg is a haven for those who love being near the water – there are beautiful beaches to explore, places to fish, and great spots for canoeing. 

But it’s not all sunshine for Florida homeowners. Like most of the state, St. Petersburg is prone to hurricanes, flooding, and sinkholes, which can drive up the cost of homeowners insurance.

Luckily, Kin policyholders only pay an average of $1,206 each year for home insurance in St. Petersburg.

St. Petersburg Home Insurance Costs

Florida consistently ranks as the most expensive state for homeowners insurance, which is why Kin constantly innovates to keep rates low. And it shows: our customers in St. Petersburg pay $1,206 a year on average for their coverage.

Compare that to the average premiums of other home insurance providers in St. Petersburg below. The rates below are based on the value and construction of the home.

Average St. Petersburg Home Insurance Premiums by Carrier x Home Value

Value of Home Kin Security First Universal Property & Casualty Insurance Company Tower Hill Preferred State Farm
$150k, Pre-2001 Construction, No Wind Mit $1,290 $2,107 $2,792 $2,738 $3,532
$150k, Pre-2001 Construction w/ Wind Mit $970 $1,404 $1,237 $1,583 $2,332
$300k New Construction $1,359 $2,433 $2,441 $2,731

$4,138

While the chart above gives you an idea about home insurance costs, remember your exact premium depends on your home’s size, age of construction, type of construction, and other factors, such as your claims history. 

Also keep in mind that you get a better price if you have wind mitigation measures or have a newer home. Your Kin Insurance representative will walk you through your available discounts when you apply for a quote.

Basics of St. Petersburg Home Insurance

If you’re buying homeowners insurance in St. Petersburg, Florida, you’ll likely want an HO3 policy, which means you’ll get the following basic protections: 

  • Replacement cost dwelling coverage: This helps you rebuild your home after a covered claim. 
  • Other structures coverage: This protects other structures on your property that aren’t your dwelling, like your shed, garage, barn, etc.
  • Personal property coverage: This covers your personal belongings in the home, such as your furniture, clothing, appliances, and more.
  • Loss of use coverage: When a covered claim forces you to temporarily relocate, this can help pay for additional expenses, such as hotel stays, takeout, and more.
  • Personal liability coverage: This kicks in when you’re sued over injuries or property damage you cause.
  • Medical payments coverage: This pays for small medical bills when visitors are hurt on your property in the hope of deterring a more expensive lawsuit later. 

Your Kin representative can customize your policy with additional endorsements to meet your specific needs. 

Covering St. Petersburg’s Big Risks

Your policy covers the usual perils – think fire, wind damage, vandalism and theft (which is a good thing considering St. Petersburg’s crime rate is 1.2 times higher than the national average). But it’s important to understand how your policy addresses catastrophes, too. Let’s look at three big risks in particular.

St. Petersburg Hurricane Coverage

St. Petersburg is not historically prone to direct hurricane contact. The city is a little luckier than southern or eastern coastline cities because most storms hit landmass and start to die down before reaching St. Petersburg. That said, the city has about a 10 percent chance of getting hit by a hurricane every year. 

Hurricane insurance, included in all Kin policies, pays for damage caused by hurricane winds. When you make a hurricane claim, your hurricane deductible applies. This is a flat $500 fee or 2 percent, 5 percent, or 10 percent of your home’s dwelling coverage.

St. Petersburg Flood Insurance

With the exception of its northern border, St. Petersburg is surrounded by the shores of Tampa Bay. Coupled with its proximity to coastlines, many interior waterways, and poor drainage, homeowners here face a lot of flood risk. 

Though many homeowners think hurricane insurance covers the storm surge associated with hurricanes and tropical storms, it doesn’t. Only flood insurance will cover damage from “rising waters.” Ask your Kin representative to add flood coverage to your policy – it’s more affordable than you may think.

Sinkhole Coverage in St. Petersburg

St. Petersburg is considered part of “sinkhole alley,” a nickname for the area where dozens of homeowners face sinkhole risk. Without the appropriate coverage, homeowners must pay out of pocket to repair structural issues caused by sinkholes, including foundation cracks, collapse, uneven floors, and buckling walls. Talk to your Kin representative about adding the sinkhole coverage to your policy.

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Tips for Keeping St. Petersburg Home Insurance Costs Down

The best way to save on your home insurance is to take steps to make your home safer. When you do, you may be eligible for discounts for:

  • Installing protective devices. 
  • Having strong wind mitigation measures in place.
  • Living in a secure community.
  • Having a home less than six years old.
  • Signing up for an electronic policy. 

Another way to save? Try to avoid making small claims on your home insurance policy. If you can handle a small repair on your own, you’ll help keep your premium low in the long run. 

If you have any questions about getting insured in St. Petersburg, call us at 855-717-0022.

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