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The average cost of renters insurance in Florida is just a little above the national average at $395 a year, based on Insurance.com’s 2022 data. That’s for $40,000 in personal property coverage, $300,000 in liability, and a $1,000 deductible. For the same coverage, you can pay a lot less at Travelers, which has an average rate of $208 a year.

Finding the best renters insurance in Florida means looking at more than just the rates. It’s also important to find a company you can trust. Below, we’ll cover not only the cheapest renters insurance in Florida, but which companies you can trust to provide it.

KEY TAKEAWAYS
  • Renters insurance in Florida costs $33 a month on average for $40,000 of personal property coverage, $300,000 in personal liability, and a $1,000 deductible.
  • The cheapest renters insurance in Florida in 2022 is from Travelers at about $17 a month.
  • Renters insurance will protect your belongings in a hurricane but doesn’t cover flood damage.

Best renters insurance in Florida

Although Nationwide earns the highest-rated company on our rating scale, it has the highest average rate of any company on the list. On the other side, Travelers has the lowest rates but also the lowest rating overall. At an average rate of $287 a year, Progressive offers a below-average premium combined with a high rating overall.

CompanyAvg Annual Rate*J.D. Power Rating**A.M. Best RatingInsurance.com Rating***
Allstate$393837A+4.4
Nationwide$487859A+5
Progressive$287831A+4.5
State Farm$352836A-4.3
Travelers$208801A++3.5

*$40,000 personal property, $300,000 liability, $1,000 deductible

**out of 1,000

***Ratings drawn from Insurance.com’s best homeowners insurance rankings, which use rate data, discount data, and both J.D. Power and A.M. Best data.

How much is renters insurance in Florida?

The average cost of renters insurance in Florida is $395, or $33 per month. That's just above the national average of $347 for $40,000 in personal property and $100,000 in liability despite the state’s frequent tropical storms and hurricanes.

Below you'll see the average annual cost of renters insurance in Florida based on 2022 Insurance.com data for various coverage levels.

Coverage SetAvg. Annual PremiumAvg. Monthly Premium
$20,000 with $500 deductible and $100,000 liability$274$23
$20,000 with $500 deductible and $300,000 liability$293$24
$20,000 with $1,000 deductible and $100,000 liability$237$20
$20,000 with $1,000 deductible and $300,000 liability$254$21
$40,000 with $500 deductible and $100,000 liability$445$37
$40,000 with $500 deductible and $300,000 liability$466$39
$40,000 with $1,000 deductible and $100,000 liability$374$31
$40,000 with $1,000 deductible and $300,000 liability$395$33
$60,000 with $500 deductible and $100,000 liability$617$51
$60,000 with $500 deductible and $300,000 liability$639$53
$60,000 with $1,000 deductible and $100,000 liability$516$43
$60,000 with $1,000 deductible and $300,000 liability$538$45

Cheapest renters insurance in Florida

We collected renters insurance rates from several insurance companies to show you options for affordable renters insurance in Florida. Travelers has the cheapest renters insurance in Florida based on Insurance.com’s 2022 data, with rates ranging from $140 a year to $287 a year, depending on the coverage level.

CompanyCost for $20,000 in property, $100,000 in liability and $1,000 deductibleCost for $40,000 in property, $100,000 in liability and $1,000 deductibleCost for $40,000 in property, $300,000 in liability and $1,000 deductible
Allstate$239$393$547
Citizens Property Insurance$227$357$497
FedNat Holding$231$330$433
HCI Group Inc$400$600$807
Nationwide$262$457$633
Progressive$287$457$632
Security First Insurance$363$599$872
State Farm$352$512$646
Travelers$140$208$280
Universal Insurance Holding$166$226$287

How much is renters insurance in Florida by city?

Below you'll see the average annual renters insurance rate for Jacksonville, Miami, Orlando and other large cities in Florida. Rates below are for $40,000 in personal property, $300,000 in liability and a $1,000 deductible.

CityAverage annual ratePer month
Tallahassee$269$22
Gainesville$273$23
Tampa$353$29
Jacksonville$309$26
Orlando$309$26
St. Petersburg$376$31
Port St. Lucie$463$39
Boca Raton$598$50
Fort Lauderdale$576$48
Miami$672$56
Hialeah$636$53
Key Largo$881$73

What does renters insurance cover in Florida?

A renters insurance policy covers four main things that are the same no matter where you live.

  • Personal property. This includes everything you own from your TV to your towels.
  • Liability coverage. Pays for injuries or damages to someone else for which you are responsible.
  • Additional living expenses, or loss of use. Pays for things like a hotel if you can’t live at home after damage from a covered peril.
  • Medical payments. Provides a small amount of coverage for medical payments to others regardless of fault.

Renters insurance policies cover a list of specified perils, and that includes hurricane or windstorm damage, which is important to know in Florida. Also important to know is that renters insurance doesn’t cover floods. You can buy separate flood insurance through the National Flood Insurance Program.

How to find affordable renters insurance in Florida

Renters insurance in Florida is more expensive than average, especially in coastal areas. Whether you’re looking for apartment renters insurance in Florida or need renters insurance for a large home, there are several things you can do to reduce rates.

  • Compare quotes. Rates vary widely by location and company, so shopping around should be your first step. Compare renters insurance quotes in Florida from three to five companies to find the best price.
  • Check with your employer. Larger companies may negotiate special rates with an insurance carrier that employees can take advantage of. You may find that your HR department has an affiliate discount available that’s lower than finding coverage on your own.
  • Check your coverage. While reducing coverage should be the last resort for saving money, it’s possible that you’re over insured. Do a home inventory to get a sense of how much personal property coverage you really need.
  • Add a security system. Most carriers will offer a security discount for an alarm system, deadbolt locks and more. Check with your landlord before installing anything; not only for permission but because they may even be willing to split the cost with you.
  • Raise your deductible. Raising your deductible will lower your renters insurance rates. Just make sure you’re prepared to pay that amount if there’s a claim.
  • Bundle renters and auto insurance. Ask your car insurance company for a discount if you purchase rental coverage as well. Many companies will give you a discount on both policies.

Frequently Asked Questions

Is renters insurance required in Florida?

Florida doesn’t require renters to have insurance. However, some landlords do require you to purchase a policy as part of the lease agreement.

Does renters insurance cover storm surges?

Not in most cases. Renters insurance doesn’t cover floods, which can be caused by storm surges. You can purchase separate flood insurance if you want that coverage.

Methodology

Insurance.com commissioned 2022 rates through Quadrant Data Services for renters insurance from all available companies in Florida for personal property coverage levels between $20,000 and $60,000, liability levels of $100,000 and $300,000, and deductibles of $500 and $1,000.

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