If you’re thinking about buying a home in Tampa, insurance is one of the most important—and most misunderstood—parts of the process. As Tampa real estate experts who’ve helped buyers navigate this market for over 40 years combined, we can tell you this with confidence: insurance costs can significantly impact your monthly payment and long-term affordability if you’re not prepared.
We’re Emeri and Joe Lewkowicz of The Lewkowicz Group, and here’s what every Tampa buyer should know before going under contract.
Insurance Is Not One-Size-Fits-All in Tampa
Tampa’s coastal location, weather patterns, and aging housing stock mean insurance varies widely from home to home. Two properties on the same street can have very different premiums based on factors like:
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Roof age and material
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Flood zone designation
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Year the home was built
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Construction type (block vs. frame)
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Wind mitigation features
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Proximity to water
We often see buyers focus solely on purchase price and interest rate, only to be surprised when insurance adds hundreds of dollars to their monthly payment. That’s why we always encourage our clients to look at insurance before finalizing their offer strategy.
Flood Insurance: Required or Optional?
One of the most common questions we get is about flood insurance. In Tampa, flood insurance is required if the property is in a FEMA-designated flood zone and you’re using a mortgage. However, even homes outside flood zones may benefit from coverage.
Here’s something many buyers don’t realize: a significant percentage of flood claims in Florida come from homes not in high-risk flood zones. Tampa’s heavy rain events and drainage issues can cause localized flooding that FEMA maps don’t always capture.
Our advice? Don’t assume “not in a flood zone” means “no risk.” We help our buyers review flood maps, elevation data, and neighborhood history so they can make informed decisions—not emotional ones.
Roof Age Matters—A Lot
In today’s insurance market, roof age is one of the biggest pricing drivers. Many carriers in Florida will not insure roofs over a certain age, even if they’re in good condition.
From our experience:
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Shingle roofs over 10–15 years old can limit carrier options
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Tile and metal roofs generally fare better
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A newer roof can dramatically reduce premiums
This is why we often advise buyers to request roof documentation during inspections and, in some cases, negotiate roof credits or replacements. A “great deal” can quickly lose its appeal if the insurance numbers don’t work.
Wind Mitigation Can Save You Money
Tampa homes with wind mitigation features—such as impact windows, hurricane shutters, toggleable garage doors, and reinforced roof attachments—often qualify for meaningful discounts.
We routinely guide buyers through wind mitigation reports and explain which upgrades truly impact insurance costs versus those that simply sound good. These details matter, especially when insurers are tightening underwriting guidelines.
Insurance Affects Your Buying Power
Insurance isn’t just a post-purchase expense—it directly affects what you can afford. Lenders calculate your debt-to-income ratio using your estimated insurance premium, so higher costs can reduce your loan approval amount.
That’s why we recommend:
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Getting insurance quotes early
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Comparing multiple carriers
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Reviewing both annual and monthly costs
As local experts, we also connect our clients with insurance professionals who understand Tampa’s market—not just Florida in general.
Local Expertise Makes the Difference
This is where working with experienced Tampa agents truly pays off. We don’t just open doors—we help you evaluate the true cost of ownership. Over the years, we’ve seen how insurance trends shift, which neighborhoods are impacted most, and how buyers can plan strategically.
Whether you’re a first-time buyer, relocating to Tampa, or investing in rental property, understanding insurance upfront can save you stress, time, and money.
At The Lewkowicz Group, our goal is simple: help you buy smart, protect your investment, and feel confident every step of the way.
If you’re considering a purchase in Tampa and want guidance tailored to your situation, we’re always here to help.
