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Are you paying too much for your homeowners insurance in Odessa? For most people in Odessa, the answer to that question is, yes.

The average Florida homeowner is paying round $2,165 per year for a standard homeowner policy, which is a whopping 61.1 percent higher than the national average premium across the United States which is $1,311. Florida is now the second most expensive state in the country when it comes homeowners insurance.

If you are tired of paying too much for homeowners coverage, you are at the right spot.  We can help you shop a dozen insurers all at once, saving you both time and money. We will also make sure that every home insurance discount available to you will be included on your Odessa, FL homeowners policy.

Insurance issues Florida homeowners should know about

Odessa weather can be severe at times which means that homeowners in your state may need to be aware of these additional risks and how they impact insurance coverage.

Flood Insurance: Hurricanes and other severe weather can lead to flooding which can do a tremendous amount of damage to a home. Flood damage is almost always excluded from a standard homeowners policy so you have to carry flood insurance in order to be fully protected.

Flood insurance can be pricey, but it can also be a financial lifesaver if your home is damaged or destroyed by a flood. Flood insurance is available via the National Flood Insurance Program (NFIP) or through private insurers.

Windstorm Insurance or Deductible: Florida is no stranger to hurricanes and these storms can lead to wind damage that may not be covered or triggers a hurricane deductible.

Some standard homeowner policies exclude wind damage caused by hurricanes or other high level windstorms, requiring homeowners to purchase a separate windstorm policy or if windstorm damage is covered, a windstorm deductible may apply.

A windstorm deductible kicks in when a hurricane is declared by National Weather Service. In Florida, hurricane deductibles apply for damage that occurs from the time a hurricane watch, or warning is issued for any part of Florida, up to 72 hours after such a watch or warning ends and anytime hurricane conditions exist throughout the state.

Windstorm deductibles are percentage deductibles which means you will pay a percentage of your coverage level as a deductible. As an example, if you are carrying $300,000 in coverage and have a 5 percent hurricane deductible, you will need to cover the first $15,000 of your claim.

Types of homeowners insurance in Odessa

Homeowners insurance comes is a variety of types and the right one for your will depend on what kind of housing you own or rent. Here is a quick overview of the different types of policies that are available:

HO-3: This is the most common type of homeowners insurance being sold in Odessa, and the United States. This is a standard homeowner policy for a single-family home. This type of policy will protect your home’s structure if it is damaged by any peril, except ones that are specifically excluded in the policy details.

However, your personal possessions are only covered against a specific set of perils. With most policies those covered perils are:

  • Theft
  • Fire or Lightning
  • Explosion
  • Smoke
  • Freezing
  • Vehicles
  • Falling Objects
  • Volcanic Eruption
  • Windstorm or Hail
  • Riot or Civil Commotion
  • Damage caused by Aircraft
  • Vandalism or Malicious Mischief
  • Damage due to weight of Ice, Snow, or Sleet
  • Sudden & Accidental Tearing Apart, Cracking, Burning, or Bulging
  • Sudden & Accidental Damage from Artificially Generated Electric Current
  • Accidental Discharge or Overflow of Water from Plumbing, Air conditioning

These policies provide great coverage and almost always come with dwelling, liability, personal property, other structures, and loss of use protection.  It should be noted that all HO-3 policies exclude flooding and earthquake damage, other exclusions usually apply so read the policy carefully.

HO-4: This policy was designed with renters in mind and is more commonly called renters insurance. A renters insurance policy will cover all of your personal property that is in your apartment, up to your coverage limits.

These policies also come with liability coverage which will help pay medical and legal expenses if a guest is injured in your apartment. If they decide to sue, this coverage will pay for your legal defense as well as any settlements or judgments that come out of the lawsuit.

HO-5: This is an upgrade from the HO-3 policy and tends to offer more comprehensive coverage, but at a higher premium. These policies are usually available on newer, more upscale houses. The big difference is that your personal property is covered from all perils except those excluded in the policy while an HO-3 only covers personal property against the perils named in the policy. It also offers replacement cost coverage as standard while an HO-3 will usually have fair market value as standard coverage.

Find a new policy now
Ready to start looking for a new policy?  Simply enter your Odessa zip code, fill out our short home insurance quoting application form online and sit back while we shop your coverage. We will send you up to 12 policy quotes from national insurance companies.

In addition to multiple quotes, we will assign a Florida home insurance professional to your quote to help answer any questions you may have about policy details as well as pricing. Having an agent to turn to with questions can be a huge advantage and will ensure that have a complete understanding of your quote.

Start a quote online today or call us at 1-888-685-4704., we will work with you to find the best policy for your needs.

Compare Homeowners Insurance Rates in Odessa, FL!

Enter your Zip Code:    

Get up to 12 competitive Odessa, FL homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Odessa, FL rates all in one place!

Our Service in Florida

You can feel confident that our experience, integrity and service will help you find the best insurance policy at a price you can afford. We work with a wide variety of insurers in Odessa, Florida and all of them are top rated "A+" by A.M. Best Rating and have been in business for several decades.

Just a few of the insurers we work include American Integrity Insurance Group, Anchor Insurance, ASI, Bankers Insurance Group, Centauri Insurance, Chubb, Edison Insurance Company, Florida Peninsula Insurance Company, Heritage Insurance, Lexington Insurance, Olympus Insurance, People's Trust Insurance Company, St. Johns Insurance Company and many more.

Average Rates Nearby Odessa

Are you looking for homeowners insurance in a city near Odessa? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Odessa, FL

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Odessa.

33556,     

Odessa, FL Home Insurance Average Premiums

Local Odessa, FL home insurance quotes comparison

$1437 /yr.

Shows Odessa's lowest average rates with discounts applied.

For the city of Odessa, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$1437 /yr.
Average Coverage:$1687 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1987 /yr.

What is the average home insurance cost for a home in Odessa, FL?

  • • The average homeowners insurance premium paid annually for a home in Odessa is around $1687 per year.

What does it cost on average per month for home insurance in Odessa, FL?

  • • Homeowners in Odessa pay an average cost per month around $141.00 for insurance coverage.

Odessa, FL Coastal Wind, Hail & Flood Information

Odessa is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Flood Zone Notice: The beautiful coastal city of Odessa is know for it's beautiful beaches and waterways. Because Hillsborough County (FIPS: 12057) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Odessa, FL.

Coastal Odessa, Florida Information: To obtain flood insurance coverage, the process usually takes more than 30 days to finalize, if you need flood insurance coverage now, please call us at 888-620-1954.
For more information about your area, please click Coastal Homeowners Insurance in Florida

Odessa, FL - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $652,849 $585,352
February $650,003 $599,000
March $649,964 $614,926
April $652,102 $631,174

Homeowners insurance will help cover the cost to repair or replace your Odessa home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

  • Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Odessa
  • Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
  • Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
  • Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
  • Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Enter your Zip Code:    

Get up to 12 competitive Odessa, FL homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Odessa, FL rates all in one place!

Saving Money Tips on Odessa Home Insurance

A great way to save money on Odessa homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

  • Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
  • Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
  • Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
  • Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Odessa area? Check out what homeowners are paying on average for Florida homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
39 ft. This is the average home elevation in Odessa, FL

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Odessa, Florida.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

To get online quotes on your home and compare rates on home insurance premiums in Odessa, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Hillsborough County.

Florida Homeowners Insurance News & Information

  • $4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024

    According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]

  • I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024

    According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]

  • Why Are Homeowners Insurance Premiums Rising in 2024? Posted on Tuesday 9th July, 2024

    As insurance rates rise at unprecedented rates, homeowners are cutting back on groceries, travel, dining out, and even medication to afford the cost of their insurance premiums. In even more shocking news, 1 in 10 homeowners are even consider moving to an area with lower premiums, according to a recent survey by Claimguide. According to […]

  • Coastal Homeowners Insurance in Florida Posted on Monday 8th July, 2024

    Florida has it all, constant sunshine, beaches,plenty of restaurants and entertainment. It also has some of the highest homeowner insurance premiums in the country. According to Value Penguin, the Sunshine State has the 14th most expensive homeowner insurance rates in the country with the average premium coming in at $1,727. While insurance premiums are high all […]

  • Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024

    A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase.  Currently, a Broward commissioner is asking Congress to pass legislation he claims […]

Odessa, FL Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Odessa so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Odessa, FL?

- The average square footage in Odessa is around 2,249 Sq. Ft. which would cost you around $375,600 to replace the home if you base the home on the price to build per square foot of $167.

Minimum Replacement Cost Total: $375,600

Location: Odessa, Florida (Hillsborough County)

Average Building Cost Per Square Foot in Odessa: $167 (low end)

Average Square Footage in Odessa: 2,249 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$167$375,600
Some Additional Upgrades$209$469,500
Major Home Updates or Advancements$251$563,400

The dwelling coverage is calculated by the average cost per square foot ($167) in Odessa, Florida times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $521,875 (Media price to build of $209 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.