Best Renters Insurance in Florida (2024)
Renters insurance covers personal property, liability, and additional living expenses for renters in Florida.
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Written byElizabeth Rivelli
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Elizabeth Rivelli
5+ years writing insurance and personal finance topics
Auto, home, health, and life insurance expertise
Elizabeth has extensive insurance industry experience, having written for Insureon, Rate Retriever, and Insurify. She’s also finance and insurance editor for Car and Driver.
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Edited byChris Schafer
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15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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Updated September 12, 2024
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Table of contents
If you rent a house or apartment in Florida, having renters insurance is very beneficial. Renters insurance, also called tenant insurance, covers your personal belongings if a covered loss damages or destroys them. It also covers third-party liability claims, medical payments, and additional living expenses should you need to live away from your home after a covered event.[1]
In Florida, the average cost of renters insurance is $18 per month for a policy with $30,000 in personal property coverage and $100,000 in liability coverage. Even though renters insurance isn’t a legal requirement in Florida, some landlords may require you to have a policy.
Quick Facts
Renters insurance is more affordable than many other types of insurance.
You can purchase renters insurance from most major insurance companies.
Comparing quotes can help you find the cheapest renters insurance.
How renters insurance works in Florida
Renters insurance in Florida has three main components — personal property coverage, liability coverage, and additional living expenses. Some policies also include medical payments coverage. Depending on the insurance company, extra coverage options may be available for renters, like coverage for valuables and electronics.
Most property and casualty insurance companies sell renters insurance, and the process of purchasing renters insurance is easy. Many insurers provide instant online quotes and allow you to purchase a policy on the same day you apply.
Follow these steps to get a Florida renters insurance policy:
Research insurance companies.
Choose your coverage limits and deductibles.
Get quotes from several insurers.
Buy the policy with the best coverage at the lowest price.
The cost of tenant insurance is different for everyone. Your location, the size of the home or apartment, your coverage limits, deductibles, and insurance company all affect your insurance rates.[2] Some insurance companies in Florida provide renters insurance discounts that can reduce your rate as well.
Filing a claim
Filing a renters insurance claim is also a straightforward process. While the exact process may differ between insurers, you’ll generally follow these steps:
File a police report, if necessary.
File the claim online, through the insurer’s mobile app, or over the phone.
Provide information about what happened and estimate the cost of your damaged items.
Wait for your claim to get approved.
Receive compensation to replace your items.
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Best renters insurance companies in Florida
Many reputable insurance companies sell renters insurance in Florida. But the best insurance company for you will depend on your situation and coverage needs.
For example, Erie offers the lowest average premium based on Insurify data, so it’s a good option for people looking for the most affordable renters insurance. If you want a renters insurance company with the best customer service, American Family is a great pick because J.D. Power rates it highly for overall customer satisfaction.[3]
Here, you can see some of the best renters insurance companies in Florida, including their monthly average premium and what they’re best for.
Insurance Company ▲▼ | Average Monthly Premium ▲▼ | Best For ▲▼ |
|---|---|---|
| USAA | $18 | Military service members |
| Erie | $14 | Low rates |
| American Family | $15 | Customer satisfaction |
| Auto-Owners | $18 | Optional coverage |
| Allstate | $17 | Discounts |
Data sourced from Insurify. Rates may vary based on renter profile.
What renters insurance covers in Florida
A basic renters insurance policy in Florida covers personal property, liability, medical expenses, and additional living expenses. Here’s what each part covers:
Personal property coverage
Personal property insurance pays to replace belongings, like clothing, furniture, and decor, that get damaged by a covered peril. This peril could be fire, smoke, theft, vandalism, windstorms, and water damage. For example, if your laptop gets stolen in a break-in, your insurance policy would pay to replace it.
Liability coverage
Liability insurance covers your financial responsibilities for third-party claims of bodily injury or property damage. For instance, if you accidentally drop your air conditioner out the window and it falls onto your neighbor’s car, your liability coverage would pay for the repairs. Liability insurance also covers your legal fees if you get sued.
Medical expenses coverage
If a guest gets injured in your home, medical payments coverage will pay for their medical bills, even if you weren’t at fault. For example, if your dog bites a delivery person, they could file a claim with your renters insurance company to get their medical bills covered.
Additional living expenses coverage
If your home or apartment gets damaged in a covered loss and you have to move out while repairs are being made, additional living expenses will cover temporary living costs. For example, if a fire damages your apartment, this policy will cover things like temporary housing, restaurant meals, and laundry services. This policy is also called loss of use coverage.
Unique considerations for renters insurance in Florida
Renters in the state of Florida face a variety of risks. Some of the primary concerns are wildfires, windstorms, and hurricanes. If a covered peril damages your personal items, your renters insurance policy will cover the loss.
But it’s important to make sure the amount of coverage you choose will protect your belongings in the event of a claim. It can be helpful to make a home inventory of all your personal items and their estimated values. Choose a coverage limit based on the cost of your items to avoid being underinsured.
You should also make sure to read the fine print of your renters insurance policy to understand what it does and doesn’t cover. For example, standard renters insurance policies include some natural disaster coverage, but they don’t cover flooding.
If you live in a part of Florida that’s prone to hurricanes or storm surges, you might want to purchase flood insurance, which is a separate policy that covers flood damage.
How to save on renters insurance in Florida
Renters insurance is one of the most affordable policies on the market, but you may still be able to to reduce the price of your premiums even further. Here are some tips to save money on your Florida renters insurance coverage:
Bundle your policies. Many Florida insurers will give you a discount if you bundle renters insurance with another policy, like auto insurance or life insurance.
Choose higher deductibles. Choosing a higher deductible for personal property insurance will lower your annual premium because you’re taking on more of the up-front risk yourself. Just be sure not to set your deductible so high you can’t afford to pay it should you need to file a claim.
Install a security system. You can typically save money by installing a security system in your home or apartment.
Compare rates. Comparing personalized renters insurance quotes from multiple companies can help you find cheap renters insurance.
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Renters insurance in Florida FAQs
Renters insurance in Florida provides valuable protection for your personal belongings at a low cost. Here are some other things to know about Florida renters insurance.
Can Florida landlords require renters insurance?
Yes. Florida insurance laws don’t require renters insurance, but landlords in Florida can require tenants to carry renters insurance as part of their lease agreement.
How much is renters insurance in Florida?
The average cost of renters insurance in Florida is $18 per month, or $216 per year, for a policy with $30,000 in personal property coverage and $100,000 in liability coverage. But renters insurance premiums depend on many factors, like coverage limits, deductibles, and the insurance company. To find the cheapest policy, you should compare renters insurance rates from several insurers.
How much renters insurance do you need in Florida?
Florida doesn’t require a minimum amount of renters insurance, and everyone has different renters insurance needs. You should have enough personal property protection to cover the estimated cost of all your belongings. For liability insurance, you should choose a coverage limit based on the value of your personal assets that could be at risk in a lawsuit.
How do you file a claim for renters insurance in Florida?
To file a claim for renters insurance in Florida, you should report the claim online, through the company’s mobile app, or by calling an agent. You’ll need to share what happened and what items were damaged, and then calculate the value of the damaged items. You should also provide a police report, if you have one, as well as photos of the damage. Once the claim is approved, you’ll receive reimbursement to replace your belongings.
Is renters insurance worth it in Florida?
Renters insurance is worth it in Florida. Renters in Florida face a variety of unique risks that can damage or destroy personal belongings. Without renters insurance in Florida, you’d have to replace any damaged personal items out of pocket, and you wouldn’t have any coverage for third-party liability claims or additional living expenses.
Sources
- Insurance Information Institute. "Renters Insurance."
- NAIC. "For Rent: Protecting Your Belongings With Renters Insurance."
- J.D. Power. "Home Insurer Exodus from Several States Creates Challenges and Opportunities, J.D. Power Finds."
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Elizabeth Rivelli
Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com.
15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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