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Renters Insurance Florida

For $15-$25 per month, Florida renters insurance financially protects tenants in their rented homes. Florida is home to over 10 million housing units, with almost 34% as rented units whose occupants should have renters insurance coverage. Renters insurance provides personal liability coverage, property damage or theft coverage, and temporary living costs in the event that a rented property becomes uninhabitable due to a covered risk.

To obtain Florida renters insurance quotes, speak with a Florida-licensed property & casualty (P&C) insurance agent. Your insurance agent can also help you determine if your rented home has adequate coverage. In addition, they can help you compare rates from different renters insurance companies in Florida and select the renters insurance quote that best suits your pocket and your needs.

Is Renters Insurance Required in Florida?

No, renters insurance is not required in Florida by law, but your Florida landlord may require proof of renters insurance to help prevent potential conflicts, as a condition of the lease. Another reason your landlord may require renters insurance is to prevent a lawsuit. For instance, if someone gets hurt through no fault of the tenant in the rented apartment, the landlord's liability insurance may not cover it. The tenant may go ahead to sue the landlord for the damages and injuries.

What is Renters Insurance in Florida?

Renters insurance for Florida apartments, single-family homes, or other types of rentals protects tenants from the financial implications of unexpected or unforeseen events involving personal liability, property damage, and theft. Renters insurance does not offer coverage for the structure of your rented home but covers the personal belongings inside such a home. In other words, any damage to the building is the landlord’s responsibility and should be covered through landlords insurance, except for slight alterations done by a tenant to the structure. All the information concerning your policy like the details of your coverages can be found on your renters insurance declarations page. Generally, a rented home may be an apartment.

What Is the Point of Renters Insurance in Florida?

In the event of a covered risk, Florida renters insurance provides liability coverage, coverage for property damage, and temporary living costs due to loss of use of a rented property.

Jacksonville, a city with over 954 thousand residents in Duval County, has the highest number of renters in Florida. 44% of all residential real estate are rental units. It is vital for renters to consider purchasing renters insurance, to financially protect their personal belongings, cover legal expenses (if they arise), and fund temporary living costs.

As a tenant, no matter how careful or cautious you are with your property, you have no complete control over the actions of others. For instance, your neighbor could leave the door of the entire building open, giving room for thieves to invade. Also, you may have guests who may leave the steam iron switched on, which may, in turn, cause a fire. You could be subjected to these dangers and many others, leaving you in debt for issues you did not cause. Renters insurance companies in Florida can protect against unforeseen circumstances and compensate for any resulting damages or losses, as long as you did not cause those damages yourself and intentionally.

What is Renters Insurance For?

Renters insurance in Florida is primarily for protecting the insured’s stuff inside their rented home. As a tenant, you may not always be able to prevent some incidents like a break-in, theft, or even accidental damage. This is where renters insurance proves useful. Renters insurance financially protects against liability claims from third parties and provides additional living expenses if your rented apartment becomes uninhabitable temporarily as a result of a covered peril. It provides coverage in the event of a fire, burst pipe, and other events where the damage occurs suddenly and accidentally. Florida renters insurance also covers your personal property while you are away from home.

Is Renters Insurance Per Person?

A renters insurance policy in Florida only covers the named policyholder and any family members or spouses of that person. People who live in a shared rented unit where each person pays their share of the rent should get individual renters insurance policies. Even though it is not required for each roommate to have their own renters insurance policy, the risk of theft increases when you live with others in a shared rented home. Although sharing renters insurance with roommates is possible, there are several disadvantages.

The disadvantages of sharing a renters insurance policy include:

  • Limitations on claims: There is a certain limit on each insurance policy. For instance, if three roommates share a policy, and the policy only covers up to $3,000 on electronics, and each roommate has a laptop worth over $2,000. If a power surge occurs and destroys all three laptops, the insurance company will only pay out $3,000, and this amount has to be split amongst all three roommates
  • It may affect credit scores: If any of your roommates file a claim for a covered peril involving your own belongings, it could end up on your insurance record. In the future, if you try to get another form of insurance like homeowners insurance, it could result in you paying higher premiums due to the past claims submitted by your roommate
  • Complications with filing a claim: Filing a renters insurance claim for multiple people can get complicated. They must all agree on what happened and who is responsible. Also, buying the policy itself could prove difficult if the personal belongings of each roommate are not worth the same amount

The advantages of each roommate purchasing their own policy include:

  • If any of your roommates vacate the rented property, your coverage still stands. For instance, if you do not have your own renters insurance policy and the policyholder vacates the apartment, you would have to pay out of pocket for the replacement or repairs of your damaged personal possessions.
  • It simplifies submitting claims for your damaged personal possessions

What Are The Types of Renters Insurance?

Depending on the kind of renters insurance policy, your insurer may reimburse you for a certain sum following a covered event. There are two primary types of renters insurance in Florida:

  • Named Perils Coverage: Named perils renters insurance coverage offers protection or compensation for only perils named in the policy. This policy permits insureds to limit coverage to risks that are of particular importance. This kind of coverage is suggested for people who reside in areas free of environmental risks like earthquakes or floods. For example, if your named perils insurance only covers flooding, you will not be protected in the event of a fire, and vice versa
  • All Risk Coverage: All risks are covered, except those that the policy clearly excludes. If a tenant has an all-risk renters insurance policy and a fire breaks out, a claim may be made unless fire was specifically excluded from coverage by the policy

What is Minimum Renters Insurance in Florida?

Minimum renters insurance in Florida is determined by the value of the tenant's belongings. The more property there is to insure, the more the minimum coverage will cost.

Do You Need Renters Insurance in Florida?

Yes. Purchasing renters insurance in Florida is a smart investment, especially considering its low cost and broad coverage. Renters insurance could prevent you from paying out of pocket for insurable risks. For instance, if you carry renters insurance, you will not have to pay out of pocket to replace anything that might get broken or stolen, including your jewelry, TV, computer, furniture, and clothes in your rented apartment. To obtain a suitable renters insurance quote, speak with a professional state-licensed property and casualty insurance agent who has access to multiple Florida renters insurance companies and who can assess your needs and guide you on purchasing the policy that best suits you.

Why Do You Need Renters Insurance?

To protect yourself from any financial losses due to unforeseeable hazards in your rented home, you need renters insurance in Florida. For instance, if you have renters insurance, you can file a claim with your insurer if your home is broken into or your personal property is damaged due to over-covered events. According to the Federal Bureau of Investigation (FBI), Florida had 35,715 burglaries and over 224,674 theft and larceny incidents in 2019. You need renters insurance to help protect your personal belongings from such unexpected incidents.

If you have guests over, the event gets rowdy and someone gets hurt - you as a host are covered. Also, if you need to relocate to a temporary housing because a covered peril renders your rented apartment uninhabitable, your FL renters insurance policy will pay you additional living expenses. If you are sued for a third-party accident that happened on your rented property, it may also cover the cost of legal representation. A Florida-licensed P&C agent can advise you on the best coverage selections that will meet your insurance needs.

How Much Renters Insurance Do You Need?

To figure out how much renters insurance you need in Florida, take into account the cost of repairing or replacing the personal belongings in your rented house in the event of a covered risk. The insurance coverage you select should be sufficient to cover the cost of the asset you wish to protect. The amount of renters insurance coverage you require may depend on your location, property size, deductibles, credit score, and the type of safety and preventative features installed in your rented home. Most renters insurance policies in Florida come with $20,000 in personal property coverage, $100,000 in liability coverage, and a deductible of $500. How much renters insurance coverage you choose will impact your renters insurance cost. That is why it is important to shop around for renters insurance often, as different companies may offer better insurance deals.

Cheapest renters insurance Florida

If the cost of coverage is the most important fact, the cheapest renters insurance in Florida will cost you $10 - $15 per month, but the coverage limits may not be high enough for your needs. (Note: Cost of insurance will differ based on the zip code, so, for example, Orlando renters insurance is likely to be less expensive than Miami renters insurance)

Speak with a Florida-licensed P&C insurance agent before choosing your renters insurance coverage amount, so they can advise on the coverage amount that best suits your needs. They can also compare Florida renters insurance quotes from several insurance companies and help you to save on premiums.

What Renters Insurance Coverage Do You Need in Florida?

In Florida, there are three primary categories of renters insurance coverage. You can decide on a single type of coverage or work out a deal for a policy that combines multiple coverages. To determine which coverages to increase or decrease based on your needs, speak with a registered renters insurance agent in Florida. The three major renters insurance coverages offered by P&C insurance companies in Florida are:

  1. Liability coverage
  2. Loss-of-use coverage
  3. Personal property coverage
  • Liability Coverage: Liability coverage in renters insurance has two components, which are:

  • Medical Payments Coverage: If someone gets injured in your rented home, your medical payments coverage will cover their treatment costs, up to the limits of your policy. If you cause harm or hurt a third party outside of your rented unit, the medical costs coverage on your renters insurance policy may also protect you. According to the National Floor Safety Institute (NFSI), slips and falls account for over 1 million hospital visits, and without renters insurance, the treatment can typically cost anywhere between $17,000 and $35,000

  • Personal Liability Coverage: Personal liability coverage offers protection if you are considered responsible for someone else's injuries or property damage in your rented apartment. In the event that you are found liable for the property damage or bodily harm of another, your renters insurance policy will pay for such damage up to the maximum coverage limits. If you are charged with causing harm or injuries and must defend yourself in court, it may help you pay your legal expenses. For instance, if you own a dog and it bites someone, the average cost of treating a dog bite injury in Florida is $44,000. According to Florida statutes, you will be held liable if your dog bites anyone that visits your rented home. Renters insurance will cover the medical bills and legal expenses if the injured party decides to sue. Renters insurance can cover the damages and expenses up to its limits (typically in the range of $100,000- $150,000). There is no personal injury renters insurance, renters insurance only covers injuries to a third party.

  • Loss of Use Coverage: Another coverage included under renters insurance in Florida is the loss of use coverage (also known as additional living expense coverage). This coverage may pay for additional living expenses if a covered risk makes your home uninhabitable. While your rented unit is being repaired, it will cover your temporary housing and the increase in costs for such items as food and gas due to the relocation. So, if the food costs more in the area where you temporarily moved to you get to claim the extra expense. The same goes for gas - if your drive to work is now twice as far, the extra expense on fuel can be claimed. The average cost of rent in Florida in 2022 was around $1,100 a month, while an average hotel stay in FL was closer to $150 per night. With renters insurance, every extra expense is covered if your rented home becomes uninhabitable.

    NOTE: Lost wages are not covered by loss of use coverage

  • Personal Property Coverage: If your personal belongings were destroyed or stolen off your property, your personal property policy would pay for their replacement or repairs in the event of a covered risk. A renters insurance policy's personal property coverage protects the following:

  • Jewelry

  • Artworks

  • Furniture

  • Appliance

    For instance, if a family heirloom or an expensive jewel is stolen or damaged, your renters insurance can cover the replacement or repair. Just make sure that your damaged or stolen item is well documented, so its value can be proven during the claim.

Is Renters Insurance Required by Law in Florida?

No, not by law. Although no law requires renters insurance in FL, some landlords might make it a requirement if you want to rent their property. It is usually good to at least purchase renters insurance for additional protection because your landlord's insurance will not cover damage to your personal property.

How Does Renters Insurance Work in Florida?

The Office of Insurance Regulations (OIR) regulates all insurance companies and products, including renters insurance, in Florida. Renters insurance allows you to transfer risks associated with your rented home to your insurance provider. Your insurance provider assumes financial responsibility for paying a covered peril mentioned in the policy contract in return for premiums.

In Florida, renters insurance policies are available as an Actual Cash Value (ACV) or Replacement Cost Value (RCV) policy:

  • ACV policy pays you back for property damage or loss using the depreciated value of the item (the cost of the item minus the depreciation due to age, wear and tear, etc.)
  • RCV policy covers the cost of replacing lost or damaged possessions in their current state without factoring in depreciation

RCV renters policy is typically more expensive since it provides a higher payout amount in the event of a claim.

In the event of a covered peril, it is important to first read through your renters insurance policy to determine if you need to file a claim at all. Sometimes, the deductible attached to a claim may be so high that it may be more cost-effective to pay out of pocket for the loss. To file a claim, you can check your insurance provider’s website to find out what paperwork you need to submit. You may also be able to scan in the required documents through the website or a phone app. You will be asked to give details about the cause of the claim, what you lost, and the value of the item(s). An adjuster would be sent by your insurance provider to investigate the incident, who will assess the level of damage and determine how much compensation you are eligible to receive. You will be reimbursed according to your policy’s reimbursement provision (ACV or RCV), minus the agreed-upon renters insurance deductible. Speak with a qualified P&C insurance agent to learn more about how renters insurance works in Florida and the best coverage options for you.

What Does Renters Insurance Cover in Florida?

Renters insurance in Florida protects your personal belongings within rented housing and pays for legal and medical expenses related to liability claims made against you. Everything you own in a leased property is generally covered by renters insurance. For instance, your policy will not cover the fixtures if you move into an apartment that is already furnished because they belong to your landlord. Additionally, your renters insurance coverage may be able to pay for interim housing and living expenses while your rental home is being repaired following a covered incident.

A standard renters insurance policy in Florida typically covers the following:

  • Fire damage
  • Theft
  • Vandalism
  • Legal fees
  • Medical bills

What Is Renters Insurance Good For?

In the event that you suffered a covered loss or damage in your leased flat in Florida, your renters insurance would cover the costs of repairing or replacing any lost or damaged property. While your rented flat is being restored, additional expenses for alternate lodging may also be paid. Renters insurance might also cover your legal expenses if you are sued for an accident that occurred in your rented home. Also, renters insurance can cover water damage that originates inside the rental unit, only if the damage was sudden and accidental. Note that renters insurance does not cover flooding; only flood insurance does. Speak with a qualified and licensed P&C insurance agent to learn more about the benefits of renters insurance in Florida.

What Does a Typical Renters Insurance Include?

Typical renters insurance in Florida has three important components: personal property, personal liability, and supplementary living expenses coverage. If a guest in your rented home trips and falls in your apartment, your renters insurance will cover you. It can also provide coverage for fire damage and theft. In addition, if an insured has a pet and the pet attacks and injures a third party, renters insurance will pay the medical bills and legal fees if the third party decides to sue. Contact a knowledgeable Florida-licensed P&C insurance agent to learn about your renters insurance policy's coverage and exclusions.

Who Is Covered By Renters Insurance?

In Florida, renters insurance generally protects the policyholder, their spouse, and any family members who live in the same rented flat. Anyone under the policyholder's care who is listed in the renter's insurance policy document is also covered. Third parties injured in your insured rental home may also receive medical aid from certain policy types, such as liability protection. If multiple unrelated individuals occupy a rented property, it is best for each person to purchase their own renters insurance policies. Speak with a qualified and licensed P&C insurance agent if you have more renters insurance questions concerning who and what is covered.

Does Renters Insurance Cover - FAQ

Generally, renters insurance in Florida protects the tenant's personal belongings and can pay medical expenses if someone is injured on the leased property.

Does Renters Insurance Cover Damage to Property?

Yes. Renters insurance in Florida covers personal property included in your policy. However, the amount of coverage you choose, the exclusions, and the type of loss or damage all have an impact on the scope of coverage.

Does Renters Insurance Cover Water Damage?

Yes, renters insurance will cover water damage. Water damage caused by leaks, burst pipes, or unintentional spills is covered by standard renters insurance in Florida. Damage caused by leaking home appliances is also covered by renters insurance. For example, if your dishwasher leaks and destroys your carpet or another appliance, your water damage renters insurance coverage will cover the cost of repair or replacement.

NOTE: Water damage caused by a sewage backup or flood is not covered by renters insurance. To include them, you must purchase such coverages as add-ons. You can speak to a Florida-licensed insurance agent who can explain the inclusions and exclusions of your renters insurance policy.

Does Renters Insurance Cover Floods?

No. Renter insurance in Florida does not cover damages to your personal belongings as a result of a flood. So, if your rental home got flooded as a result of Hurricane Ida’s 12-foot storm surge, renters insurance without the flood option will not do much good for you. A stand-alone flood insurance policy is required to cover flood damage in a rented property. Renters can get flood insurance in Florida from the National Flood Insurance Program (NFIP) of the Federal Emergency Management Agency (FEMA), through a Florida-licensed P&C insurance agent OR other private flood insurers.

Does Renters Insurance Cover Theft?

Yes. Theft of personal belongings in a rented property is covered by typical Florida renters insurance. Any stolen personal belongings can be replaced by the renters insurance theft coverage, as long as the item was named in your policy.

NOTE: Keep copies of purchase receipts and photographs of all pricey items in your home. Such documents will help you speed up the claim process in the event of theft or damage.

Does Renters Insurance Cover Theft from Car?

Yes, just like homeowners insurance, your Florida renters insurance can cover theft from a car. It will help you cover the actual cost value or the replacement cost value of stolen things from your car up to your policy limits.

Does Renters Insurance Cover Loss of Use?

Many Florida residents ask; does renters insurance cover temporary housing? The answer is yes. If your leased home in Florida becomes uninhabitable as a result of a covered peril, your renters insurance provider will pay for living expenses, including rent for temporary housing and food expenses. The amount of loss-of-use coverage will often be capped by a renters insurance policy. If you are relocating from your uninhabitable rented home temporarily while repairs are being made, renters insurance will also cover the cost of transport costs.

Does Renters Insurance Cover Storage Units? storage

Yes. A Florida renters insurance policy can cover personal belongings in units if damaged by a covered peril, no matter their location in any part of the world. Most renters insurance policies will only offer up to 10% coverage on personal belongings outside your rented home. You can, however, increase the scope of coverage if necessary.

Does Renters Insurance Cover Dog Bites?

Yes. In Florida, the liability portion of renters insurance covers pet damage and dog bites. If a third party who your dog bit decides to file a lawsuit, your dog bite renters insurance or pet insurance coverage will cover the cost of legal fees and medical expenses. Certain dog breeds, like Pitbulls, German Shepherds, Bulldogs, and Dobermans, are more likely to exhibit behavior that can lead to claims. Hence, most insurers do not provide coverage for their bites. Speak with a professional insurance agent in Florida if you own any of these commonly aggressive dog breeds to discuss your options for rental liability insurance.

Does Renters Insurance Cover Moving?

Yes. Your Florida renters insurance policy may help pay for the cost of moving to a temporary apartment if you have to vacate a rented property due to a covered event. If a logistics company causes damages to your personal belongings while moving them, your renters insurance will not be responsible. This is why you must ensure to use an insured moving company while relocating your personal belongings from one location to another. The mover’s cargo coverage will protect your stuff while it is being moved.

What is Not Covered by Renters Insurance?

Some perils are normally excluded from renters insurance in Florida, and they include:

  • Automobile damage
  • Water damage caused by other factors outside the rented property like floods
  • Damage caused by natural disasters
  • Damage to the building structure

What Does Renters Insurance Typically Exclude?

Exclusions for renters insurance in Florida are mostly determined by the type of coverage you select and the agreed-upon coverage level. The following are often not covered by typical Florida renters insurance policies:

  • Pet Damage: Damages caused by some pets are often excluded from typical renters insurance in Florida due to their aggressive nature and high tendency to harm people
  • Building Structure: Renters insurance only provides coverage for the tenant’s personal belongings. Building structures like walls and fences are the landlord’s responsibility and can only be covered by landlord insurance
  • Automobile Damage/Theft: While a renters insurance policy will cover items stolen from a car, it does not cover damage to the vehicle. You should buy a car insurance policy if you need protection for your vehicle
  • Natural Disasters: Renters insurance does not cover natural disasters like earthquakes and floods. If you live in an area prone to certain natural disasters, it is important to get specific disaster insurance to protect your personal belongings in a rented property
  • Intentional Damage: Renters insurance will not cover deliberate damage by the insured
  • Pest Infestation: Renters insurance does not cover pest control or infestations like cockroaches, bedbugs, and rats

What is an Example of Renters Insurance?

If you reside in a leased property in Florida, renters insurance will financially shield your belongings from theft, vandalism, or damage. Your renters insurance coverage, for instance, can replace items like your expensive television or art collection if they are stolen. Also, suppose your appliances and furniture are damaged by water from your malfunctioning dishwasher in your rental unit. In that case, your renters insurance coverage may be able to cover the replacement or repair of these items, depending on your coverage. If someone sustains bodily injury in your rented apartment, your renters insurance policy will cover the costs of medical or legal expenses if the injured person sues you.

What Is The Most Common Use of Renters Insurance?

The three most common uses of renters insurance in Florida are:

  • To cover legal fees in the event of a lawsuit
  • To protect personal belongings
  • Provision of additional living expenses in the event that a rented apartment becomes uninhabitable temporarily due to a covered peril

What Is The Difference Between Renters Insurance and Homeowners Insurance?

Florida renters insurance and homeowners insurance offer the policyholders financial protection against costs associated with third-party medical care, additional living expenses, legal liability, and property damage. However, for individuals who own their own houses, homeowners insurance provides coverage for both the building's structure and the personal property inside the home. A major difference between the two insurance types is the ownership status. Homeowners insurance provides coverage for homeowners’ occupied properties while renters insurance provides coverage for people in rented homes.

Do I Need Renters Insurance in Florida? - FAQ

Florida has over 3.3 million residents living in rented homes, and they all need ho-4renters insurance to protect their personal belongings against insurable perils and to safeguard themselves from being liable for someone’s injuries and/or damages to their stuff.

Do I Need Renters Insurance If I Have Homeowners Insurance?

If you own the home in which you live and have homeowners insurance, you do not need renters insurance. Only tenants can get renters insurance. Speak with a licensed P&C insurance agent in Florida to learn more about your options for renters insurance coverage.

Do I Need Renters Insurance If I Live With My Parents?

You do not require a separate renters policy if you live with your parents in Florida and they have renters insurance. Most renters insurance policies cover the insured’s family members who live in the same rented flat, meaning you can make renters insurance claims while living with your parents.

If your parents own the home and homeowners insurance, you as a family member, are covered by their policy and do not need to get renters insurance.

If your parents do not have homeowners or renters insurance, speak with them about the need to get coverage. Consult with a state-licensed Florida insurance agent to assess your needs and make the final determination.

Do I Need Renters Insurance If My Roommate Has It?

Yes. Even if you share a rental unit with someone who has Florida renters insurance, it is always important to purchase your own policy. Renters insurance only covers the policyholder and members of their immediate family who live in the same home. While your roommate can add you to their renters insurance policy, they may, in the future, remove you from the list without your knowledge. However, you can purchase renters insurance with roommates, this means you all become equal partners. You will all share the responsibilities for claims made by any of the roommates.

Do I Need Renters Insurance If I Live With My Girlfriend?

The answer depends on the property you both live in and if there is existing coverage in place. If you reside with your girlfriend with a renters insurance policy in which you are not listed, you still need renters insurance. However, some insurance providers in Florida could be willing to offer renters insurance for unmarried couples to you as if you were a family.

If your girlfriend owns the property where you both live, then homeowners insurance is likely in place, which covers all the property inside the home already - so you are covered.

Do I Need Renters Insurance If I Rent A Room?

Everyone needs renters insurance regardless of how small the rental unit is. If you are renting a room in a rental residential dwelling in Florida, you should get renters insurance coverage because, in the event of an insurable peril, the landlord's residential insurance policy may not cover your personal belongings.

Do I Need Renters Insurance If I Rent A House?

Even if a house is protected by your landlord's insurance policy you still need renters insurance if you rent that house. The building structure, fixtures, and obligations of the property owner are all covered by the landlord's insurance. Even if you rented a condominium, you will still need condo renters insurance if you want to protect your personal property and cover personal liabilities in a leased home.

When Does Renters Coverage Begin?

Florida renters insurance coverage kicks in immediately after purchase unless you choose to postpone it to a later date.

Who Can Get Renters Insurance in Florida?

All Florida tenants who want to protect their personal property from unforeseen risks and third-party liability claims can get renters insurance. Renters insurance is available to persons who rent and occupy residential properties, you can even get renters insurance with additional insured. An understanding of the following questions will help you answer the question; which renters insurance should I get?

Who Qualifies for Renters Insurance?

Renters insurance is not mandatory, but it is available to anyone who leases or otherwise regularly resides in a rented property in Florida. It is also available to family members who live in rented family homes but are not qualified for protection under their benefactor's policy. If you rent a room in a rental property, you also qualify for renters insurance. People who live in a home where their personal belongings are not covered by the homeowners' insurance policy but who are not strictly tenants may also be eligible for renters insurance.

Who Needs Renters Insurance?

To protect their personal property against unforeseen dangers, all tenants and lessors of residential properties in Florida need effective coverage renters insurance. Renters insurance also provides coverage for third-party medical or legal obligations. In Florida, you need renters insurance if your landlord requires it in order to rent out their property to you.

Who Should Get Renters Insurance in Florida?

You should get renter insurance if:

  • You want to protect yourself from liability claims that may arise on your rented property
  • You have a lease clause requiring renters insurance
  • You are a renter who wants to cover your personal property from damage caused by unforeseen incidents

Speak with a Florida-registered P&C insurance agent who can address any concerns you might have before purchasing renters insurance. Based on your needs, a qualified agent can advise you on the suitable coverages to include in your renters insurance policy. They can also help you can affordable Florida renters insurance that suits your needs.

What Are the Benefits of Renters Insurance?

The following are the benefits of having renters insurance in Florida:

  • If you are required to vacate your rented apartment as a result of a covered risk, your renters policy will pay you for additional living expenses
  • Renters insurance guarantees that you will not have to pay out of pocket for covered occurrences like unforeseen house catastrophes, mishaps, or thefts
  • Renters insurance is affordable
  • You can get renters insurance with low deductibles

For more information on the benefits of renters insurance in FL and how to land reasonably priced coverage, speak with a Florida-licensed P&C insurance agent.

What are the PROs and CONs of Renters Insurance in Florida?

Renters insurance in Florida has several advantages and some drawbacks.

PROs of Renters Insurance

Florida renters insurance comes with various advantages:

  • Meeting certain requirements for renting a home, especially if requested by your landlord
  • Renters insurance water damage coverage will cover any accidental or unintentional water damage that occurs within the rented home
  • Protecting your personal possessions while you are traveling
  • Depending on the level of coverage, renters insurance can be inexpensive
  • Providing coverage for losses of or damage to personal property in a leased house
  • Providing liability protection for other people’s injuries or property damage for which you are legally liable
  • Coverage for additional living expenses like a hotel stay and food expenses if your rented house becomes temporarily uninhabitable due to a covered event
  • You may be able to qualify for Florida renters insurance discounts if you install safety devices in your rented home or if you make it through a year without filing a claim

CONs of Renters Insurance

Florida home renters insurance has a number of downsides:

  • If you include valuable items in your coverage, your renters insurance policy may become prohibitively expensive
  • You might not have enough protection from renters insurance because of coverage limitations and exclusions
  • Replacement value coverage for your renters insurance could be pricey
  • Renters insurance premiums could increase if you have a poor credit rating
  • Renters insurance claim process can be difficult if the damage is extensive

To purchase a renters policy that offers sufficient coverage at a reasonable rate, speak with a licensed Florida P&C insurance agent who can guide you through.

Is Renters Insurance Worth Buying in Florida?

Yes, getting renters insurance in Florida is worth it, especially if you rent your house and wish to protect your personal belongings against unanticipated losses and damages. It also covers medical expenses in case you are found responsible for another person's injuries sustained on your rented property. Renters insurance can also cover legal expenses if the injured person decides to sue you. Renters insurance discounts are available to policyholders that install safety devices in their homes or by combining their renters insurance with other insurance policies, like auto policy. Also, renters insurance is affordable, Florida renters insurance can cost as low as $200 a year for about $45,000 worth of property protection. Speak with a licensed Florida P&C insurance agent that will further explain what renters insurance covers in Florida and how important it is.

What Happens If You Don’t Have Renters Insurance in Florida?

Many people wonder what happens if you do not have renters insurance. Well, your insurers may cancel your renters insurance due to different reasons like unpaid premiums or you may choose to cancel it yourself. If you do not have renters insurance in Florida, you will most likely pay out of pocket to repair or replace the personal possessions in your rented apartment in the event of a covered peril. Also, suppose you are held liable for an incident that occurs on your rented property and you do not have renters insurance. In that case, you will be responsible for paying for the victim's medical bills and legal costs if such an individual chooses to file a lawsuit against you.

Why is Renters Insurance Important in Florida?

Florida renters insurance is crucial since it can pay for liability claims and protects tenants' personal properties from insurable risks. It shields you from having to foot the bill for replacing or fixing stolen or damaged items due to events covered by your policy. Also, renters insurance will cover your hotel stay in the event that your rented home becomes temporarily uninhabitable.

What Happens When Your Renters Insurance Lapses?

By paying your premiums on time, you can maintain your renters insurance coverage in Florida. Otherwise, the insurance will lapse and you will lose coverage. However, your insurance provider is required to provide you with a month's notice before your insurance coverage lapses.

Your coverage may be canceled if you fail to pay your monthly premium by the end of the grace period, which could be as brief as 24 hours or as long as 30 days. You can also cancel your renters insurance at any time, even if it is before the end of your policy, but depending on the insurance company, you may be charged a cancellation fee. In order to prevent your policy from lapsing, speak with a Florida-licensed P&C insurance agent that will help you understand your obligations under the policy and advise you on how to prevent a policy lapse.

Which Renters Insurance to Buy in Florida?

You must first decide how much coverage you require before buying FL renters insurance. How much personal property you own in a leased home and the level of risk you can take will determine which renters insurance to buy. You must maintain an accurate inventory to ensure that everything is covered, even though the value of your assets may rise faster than you expect.

Before purchasing any renters insurance policy, you must understand the concept of ACV and RCV. Replacement cost value (RCV) renters insurance pays the actual cost of replacing your personal goods following a covered event, subject to your policy limits. ACV plans, on the other hand, pay to replace your personal belongings after taking depreciation into account. Because ACV coverage is typically less expensive than RCV coverage, make sure to inquire about the types of coverage your insurance company offers.

Most Common Renters Insurance Companies in Florida
(in alphabetical order) Average Consumer Satisfaction
Allstate 3.4
American Integrity 2.6
American Strategic 2.3
Amica Mutual 4.4
Assurant 3.4
Chubb 4.1
Citizens Property 2.5
Farmers 4.2
FedNat 2.4
Florida Peninsula 2.6
Foremost 3.2
Geico 4.1
Heritage 2.3
Imperial Fire and Casualty 3.4
Jetty 3.6
Lemonade 4.3
Mercury 2.8
Nationwide 3.9
Progressive 3.4
Security First 3.0
State Farm 4.1
Tower Hill 3.2
Travelers 3.8
Universal Property 2.6
UPC 3.1
USAA 4.0
Note: Average consumer satisfaction score is the average aggregate score from multi-user (non-employee) review platforms, such as: ConsumerAffairs, TrustPilot, WalletHub, SuperMoney, and others (based on availability).

Before purchasing renters insurance, it is important to get renters insurance quotes in Florida from several insurers and compare prices before settling for one. Additionally, you should consider more than just prices. The coverage provided by similarly priced renters insurance policies from different insurers can vary substantially. To ensure you are making accurate comparisons and maximizing the benefits of renters insurance, compare policies with similar terms and coverage amounts. There are various renters insurance companies in Florida, that offer affordable renters insurance policies without compromising coverages.

In the event of a covered risk, having renters insurance in Florida can help you save a lot of money. Before acquiring your renters insurance policy, speak with a professional P&C insurance agent to avoid errors while choosing coverage. The role of the licensed insurance agent cannot be overstated in helping you find the best Florida renters insurance.