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RENTERS Insurance

The average cost of renters insurance in Florida is about $295, or $25 per month, about $30 below the national average. That’s a bargain for the protection you get. Learn how renters rates compare by carrier and coverage level, and find out which companies are the best for renters insurance in Florida.

We did the research for you to provide you with all the information you need to get the best renters insurance options in Florida. As per our research, we found Phoenix insurance is the overall best renters insurance company in Florida. To create a shortlist to help you find the best, we looked at what customers have to say about the company. J.D. Power and the National Association of Insurance Commissioners (NAIC) both provide unbiased  customer service and satisfaction reports. In addition, average cost for renters insurance coverage, policy options and financial strength were important factors. Here are our picks for the best Florida renters insurance companies:

  • Renters insurance is about $25 a month and pays to repair or replace your personal possessions if damaged or stolen and pays for injured guests’ medical bills.
  • Renters insurance coverage comes in four parts to help protect you and your belongings: Personal property, liability, loss of use and medical payments.
  • Your coverage options primarily relate to how much coverage you buy --experts recommend you get replacement value for your belongings and $300,000 in liability.
  • The best renters insurance companies in Florida reviewed provide affordable prices with great customer service.
  • Comparison shopping is one of the best ways to find cheap renters insurance rates.

Best Florida renters insurance companies

CompanyBest forFlorida market shareJ.D. Power ratingNAIC complaintsAM Best financial strength ratingOnline quote tool
PhoenixAll rentersNRNR.38(below average)BNo
UniversalCheap insurance Florida9.82%NR3.40 (above average)B+Yes
USAAMilitary3.96%888/1.0001.87 (above average)A++Yes
State FarmFor remote workers6.37%836/1,0001.50 (above average)AYes
UnitedElectronics3.84%NR6.05 (above average)A-No


New-Jersey based Phoenix Insurance Group has the cheapest Florida renters insurance rates and the lowest customer complaints of the top carriers in the state, among those surveyed. The combination of low premiums and high customer satisfaction place it at the top of our best renters insurance Florida list. Phoenix includes wind damage in its renters policies. However, flood insurance is an optional coverage you’ll need to add, which would be wise if you live in a coastal area or flood zone.


  • Cheapest renters insurance Florida rates
  • Variety of other insurance coverages including life, health and vehicle
  • Below average customer complaints


  • You’ll need to call or email for a quote
  • Limited information online

Special coverages:

  • Flood insurance
  • Additional living expenses
  • Scheduled personal property


Universal is the most popular and second-cheapest renters insurance Florida behind Phoenix Insurance Group. The carrier has more optional coverages and discounts than many of its competitors, providing great value to Florida renters. Some of the discounts available include security system, age of rental, fire alarm and having prior insurance. 


  • Online claims available
  • Cheap renters insurance Florida
  • Several discounts available
  • Variety of optional coverages
  • File a claim online or by phone


  • Above average customer complaints
  • Mobile app receives poor reviews from downloaders

Special coverages:

  • Animal liability
  • Refrigerated property
  • Replacement value
  • Scheduled personal property
  • Water backup


USAA tops J.D. Power’s renters insurance survey year after year for its fast and efficient claims process, low prices and quality of coverage. The main drawback to USAA is its accessibility. You’ll need to be a veteran, serve in the military or be closely related to someone who is. 


  • Membership is required but it’s free
  • High customer satisfaction ratings and low complaints
  • Robust mobile app allows you to manage your coverage and file a claim
  • Flood insurance is included for free


  • For military and family only
  • No local offices

Special coverages:

  • Scheduled personal property
  • Replacement cost


State Farm is the country’s largest insurance company, but the second largest in the state for written policies. If you freelance or run a small business from home, State Farm’s business-specific coverages may be best for you. You’ll be able to insure business equipment you use in your apartment as well as add business liability that protects you financially from lawsuits and third-party injuries that occur during your time spent working from home. 


  • Variety of renters insurance coverages 
  • The best mobile app of all carriers mentioned with excellent functionality and high customer ratings
  • File a claim online, via phone or mobile app or through an agent.


  • Above-average customer complaints

Special coverages:

  • Additional business property
  • Incidental business liability
  • Pet medical
  • Identity theft restoration
  • Higher liability insurance limits


Most insurance companies offer the same kind of renters insurance. It’s hard to differentiate them outside of cost and customer ratings. United offers unique coverage for your personal electronics and electronics, called equipment breakdown. Adding the optional coverage means your renters insurance will pay for the repair or replacement of electrical items you own that have been damaged from a power surge or an outage. 


  • Unique add-on coverages
  • File a claim online or via phone
  • Strong financial stability rating of A-


  • Limited agents
  • Higher than average number of complaints

Special coverages:

  • Scheduled personal property
  • Equipment breakdown
  • Identity theft

Cost of Florida renters insurance

The average cost of renters insurance in Florida is $295, or $25 per month. That's just below the national average of $326 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 cost of renters insurance in Florida per year for various renters insurance policies amounts for personal property coverage, liability and deductible:

  • $20,000/$100,000/$1,000: $192
  • $40,000/$100,000/$1,000: $295
  • $40,000/$300,000/$1,000: $313
  • $60,000/$300,000/$1,000: $410

How much is renters insurance in Florida?

The average renters insurance premium in Florida is $295 for a $40,000/$100,000 policy with a $1,000 deductible. Florida rates are slightly lower than the national average cost of renters insurance, $326 per year. However, you could save further on a policy and beat the average cost by choosing the cheapest company.

Cheapest renters insurance in Florida

We collected renters insurance rates from all the major renters insurance companies to show you options for affordable renters insurance in Florida. The cheapest renters insurance providers among those surveyed are Phoenix and Universal Insurance. 

CompanyCost for $20,000 in property, $100,000 in liability and $500 deductibleCost 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
Phoenix Insurance$132$125$190$210
Castle Key$135$126$204$224
First Floridian$154$145$228$248
State Farm$386$367$483$503

Renters insurance cost in Florida by city

Below you'll see the average annual renters insurance rate for Jacksonville, Miami, Orlando and other large cities and well-known areas. To see the average cost for renters insurance by ZIP code for nearly every neighborhood in the state, visit our renters insurance guide and use the average renters rate calculator. You can use it to compare costs for several levels of protection. This is for a 40k/1k/100k policy.

CityAverage annual ratePer month
St. Petersburg$265$22
Port St. Lucie$311$26
Boca Raton$380$32
Fort Lauderdale$396$33
Key Largo$909$76

What does a renters insurance policy cover?

A renters insurance policy covers four main things:

  • Personal property: Your renters insurance covers personal belongings, such as clothing, furniture, TV and electronics. It always recommended to get renters insurance based on replacement cost coverage instead of actual cash value. Actual cash value means you are paid for what the stolen or damaged item is worth after depreciation. So, for example, if your stereo system were stolen from your apartment, five years after the stereo was purchased, the you would be reimbursed for the value of a five-year-old stereo. If you have replacement cost coverage, you would be paid the amount needed to buy a new stereo. In short, actual cash value will pay less than replacement cost coverage.
  • Liability coverage: The cost of third-party injuries if anyone is hurt in your home and you're responsible for the accident. Renters insurance covers property damage you cause to others' property, too. Liability protection also pays for a legal fees and defense and judgments, up to the limit you set.
  • Loss of use coverage or additional living expenses: Loss of use coverage pays for your living expenses if you can’t live in your rental home temporarily. There may have been a kitchen fire or flood and you have to move out while the rental is repaired. Loss of use pays for your living expenses, such as rent, hotel and meals, while you wait to move back. It is also called "additional living expenses." This coverage is typically included in home insurance and renters policies for no extra cost, but you should check with your insurance agent.
  • Medical payments: Medical payments is one of the coverage options insurance carriers offer renters (it's also available for home insurance.) It pays up to $5,000 for medical expenses for guests injured in your home, regardless of fault.

Renters insurance polices are limited to covered hazards and perils. Covered loss events include theft, fire, vandalism, smoke damage, hail and windstorm damage, falling objects and damage from malfunctioning appliances. Basically, if your belongings are smoke damaged after a fire, renters insurance will pay to replace them (after you cover the deductible). If you’re burglarized, renters insurance will consider that a covered loss.

You can also buy additional coverage beyond what is included in standard policies. For instance, endorsements can be purchased to boost the amount your policy covers for high-value items like jewelry that you own.

Tips on how to find affordable renters insurance in Florida

Compare quotes

As you can see in our price research, the cost of renters insurance can vary significantly among renters insurance companies for the same amount of coverage. The difference between renters insurance rates from Phoenix and State Farm is almost $295 per year, on average. However, your insurance costs may vary based on your ZIP code, credit history and amount of renters insurance you need. Choosing a few providers from which to collect and compare quotes is the best way to find the most affordable renters insurance and save. You should always get a quote from at least three companies before buying an insurance policy.

Besides comparing insurance quotes from several insurance companies, there are other ways to lower your insurance premium. Consider the following ideas:

Check with your employer

Larger companies typically 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.

Lower your limits

Most agents recommend a personal property limit of $40,000. However, you may be overpaying if you didn’t do an inventory of your personal belongings first. Do a quick tally of everything you own to determine the value of your goods. You may be able to reduce the limit to $20,000 to save on your premiums, especially if you don’t own much in furnishings and electronics or most of your items are hand-me-downs.

Add a security system

Most carriers will offer a security discount for an alarm system, deadbolt locks and more. Installing a wireless security system is simple and typically doesn’t cause any damage to your rental’s walls.

Raise your insurance deductible

Raising your deductible will lower your renters insurance rates. However, before you do, make sure the price difference is worth having to pay out double the amount in case of a claim. For example, a deductible of $1,000 instead of $500 on a 20/100 policy with North Carolina Farm Bureau only saves you $15 per year.

Bundle renters and auto insurance

Ask your vehicle insurance company for a discount if you purchase rental coverage as well. Many companies will give you a competitive rate of up to 25% less.

Frequently Asked Questions

How much renters insurance do I need?

Most insurance professionals recommend coverage of 40/100, which is $40,000 in personal property and $100,000 in liability. However, insurance shouldn’t be a one-size-fits-all product. To decide on how much renters insurance you need, estimate how much you own and set an approximate value for the goods.

Keep in mind that items that are worth more than $1,000 such as a diamond ring, fine watch or special collectible are often excluded from a renters policy and should be insured separately under a scheduled personal property rider. The rider will name the item and its value, which you’ll need to prove to the insurance company by providing a purchase receipt or professional appraisal for.

Is renters insurance included?

Renters insurance is not typically included when you rent. You’ll need to purchase your own coverage. Even though your landlord most likely has insurance on the property you rent, a landlord policy only covers the structure and not your contents.

Is renters insurance required in Florida?

Florida doesn’t require renters to have insurance. However, coverage can be purchased for as little as less than a dollar per day and cover events such as fires, break ins, smoke damage, certain types of water damage and losses or thefts of your belongings outside of your home. Besides protecting your property, renters insurance also provides you with financial backing against legal claims and medical bills if someone is injured in your home.

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