Best and Cheapest Renters Insurance in Florida for 2024

Are renters policies necessary in Florida?

People often misunderstand what is protected by renters coverage. While your landlord has coverage to cover the building in Florida where you're renting, their policy won't cover your personal belongings. However, a renters insurance policy does!

A renters policy usually provides you with liability coverage as well. The difference is that your landlord must have protection against property damage to the building itself, whereas the renter must cover anything they put inside. If you or anyone in your family rent a home and end up needing replacement furniture due to a flood, the extra coverage may end up being worth it.

If you want to ensure that you're properly covered while renting, you should find one of the best and cheapest Florida renters insurance companies. Not unlike any homeowner, you're going to want to be able to have financial protection against any sort of accident. Where can you start to look for the best and cheapest renters insurance?

In the table above, you can sort through all of the best and cheapest renters insurance companies ranked on Clearsurance. The rating next to each company, the insurer's Clearsurance score, is based exclusively on the thousands of ratings provided by customers.

Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best and cheapest Florida renters insurance rankings.

It is important to know as much as you can about your renter's insurance company before taking out a policy with them. Talking to a local, experienced insurance agent can help answer any questions you may have. Some questions to consider asking include, "What is the average cost for your renters insurance coverage?" "Does my policy cover things such as water damage and bodily injury?" and "What are my coverage options and my coverage limit?"

Interested in learning more about one of the companies on the list of the best and cheapest renters insurance companies in Florida? You can visit the company's profile page to find more information about the company and read customer reviews to learn from the experiences of other policyholders.

On this page:

• Best and cheapest Florida renters insurance rates
• Average cost of renting in Orlando
• Average cost of renting in Tampa
• Average cost of renting in Miami
• Best and cheapest renters insurance for Florida college students
• Florida property crime statistics

Who offers the best and cheapest Florida renters insurance rates?

Out of the most popular renters insurance companies in Florida, is Travelers. They offer optional coverage at affordable prices.

In Florida, renters insurance rates vary based on the renter's insurance company that you choose and your specific needs. Some companies may offer coverage in Florida for a cheaper rate than others. In the table below, you can see average Florida renters insurance rates from some of the largest companies in the state.

It's important to evaluate cost and customer reviews together to find the best and cheapest renters insurance, rather than focusing solely on price.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in Florida will differ. Rate data is provided by Quadrant Information Services.

How much does rent cost in Orlando?

The average monthly cost of rent in Orlando, Florida, is $1,442. The cost of rent in Orlando can vary based on the location and size of your apartment.

Disney World and Universal may come to mind when you think of Orlando, Florida. Yet it's also one of the most popular cities to live in within the Sunshine State. While Orlando draws more than 70 million tourists every year, it's actually considered one of the most affordable Florida cities to live in. While the average monthly cost of rent in Orlando is $1,256, certain areas in Orlando have an average rent of less than $1,000.

Additionally, the cost of rent depends on the type and size of the apartment you rent. Studio apartments in Orlando may cost much less than one-bedroom apartments or larger ones. When considering renting an apartment in Orlando, it's important to look into standard policies as well as any additional coverage you may need. The monthly cost of renters insurance is small and it can be a great help if you experience a disaster, such as theft. This can especially be true if you have various valuable items that you need insured.

Keep in mind that the company you're working with may have limits on the covered losses they will reimburse. High-value items may or may not be included, so it's worth double checking. You can usually look at your policy under 'covered peril' to determine what you're protected against and for how much.

See which companies customers rate as the best and cheapest renters insurance in Orlando.

How much does rent cost in Tampa?

The average monthly cost of rent in Tampa, Florida, is $1,339. The cost to rent in Tampa can vary based on the location and size of your apartment.

Tampa, Florida, has many attractions that may draw people to live there, including its closeness to the Gulf Coast. While the average cost to rent an apartment in Tampa is $1,339 per month, the average monthly cost of rent fluctuates depending on the area in Tampa the apartment is located. In Downtown Tampa, the average monthly cost of rent is $2,036, but in Sulphur Springs and Lowry Park, it's half the cost at $1,001. A change in location within Tampa can definitely save money.

The average cost of rent is much cheaper if you choose a smaller apartment. Studio apartments in Tampa are much cheaper than one-bedroom apartments or larger ones. Renters insurance is a small additional expense you may want to consider adding to your cost of living. For a small fee, you can protect your items from unexpected disasters that can damage items in your apartment, such as a hurricane or flooding.

How much does rent cost in Miami?

The average cost of rent in Miami, Florida, is $1,704 per month. The cost of rent in Miami can vary based on the location and size of your apartment.

Miami is full of popular attractions and is located on the southeastern tip of Florida stretching from the Everglades to Biscayne Bay. It's the most populous city in the state. While the average cost of rent in Miami is $1,704 per month, the average monthly price of rent in Miami differs greatly based on the different parts of the city. The average cost can be as high as $2,616 per month in the area of Brickell Key, but only $906 per month in Mays Garden.

It's no surprise that the type of apartment you rent affects the price of rent. On average, the monthly cost of rent for a studio apartment in Miami is much cheaper than the cost of a one-bedroom apartment or a larger one. In addition to your rent in Miami, you may want to consider purchasing a renters insurance policy as the area is susceptible to hurricanes. Without renters insurance from a reputable renters insurance company, your belongings wouldn't be covered.

Who offers the best and most affordable renters insurance for Florida college students?

Although Florida is a popular destination for retirees, the state also has a large number of colleges. With more than 100 colleges and universities scattered across the state, Florida has hundreds of thousands of college students who live in dorms or rent apartments. College students renting housing in Florida should consider a few key pieces of information to ensure that their personal belongings are protected.

Typically, college students who live in dorms located on the college campus are covered by their parent's homeowners insurance policy. However, that's usually only the case for students who live on campus. College students who rent apartments off-campus should consider a renters insurance policy because their items won't be covered under their parents' policy. Without their own renter's insurance policy from a renters insurance company, students' belongings won't be protected.

College students will most likely share their rented apartments with roommates. It's not advised that students share renters' insurance policies with roommates. Rather, each student should have their own renter's insurance policy to protect their own belongings. To find the best and cheapest renters insurance in your zip code, see the Florida best and cheapest insurance companies in the table at the top of this page.

Additionally, Florida is greatly affected by hurricanes every year which can cause wind damage and massive flooding. When buying a renters insurance policy in Florida, students should consider buying coverage to protect against these natural disasters if they aren't already included on their renter's insurance policy.

What are Florida's property crime statistics?

Theft and vandalism or malicious mischief are among the 16 perils a standard renters insurance policy protects you from. So, how does crime in Florida compare to other states around the country? The FBI published the following statistics on crime in Florida for 2016:

• Property crime - 553,812
• Burglary - 100,325
• Larceny theft - 410,352

All three statistics for Florida, when compared to the national average rate per 100,000 inhabitants, ranking slightly above the national average. It is important to make sure that you are always covered. Ask your local insurance agent if your renter's policy covers additional protection like a burglar alarm. This will not only help keep you safe but also help with peace of mind, knowing that you are protected.

How can you save money on your renter's insurance in Florida?

While renter's insurance may be more affordable than other types of insurance, no one wants to pay more than they have to. What are the different ways that you can lower your Florida renters insurance premium and save money?

Here are the top 5 ways to save on your renters insurance in Florida:

• Raise your deductible
• Ask about potential discounts
• Bundle your policies
• Determine the value of your personal property
• Pay in full by check

Sometimes running towards the cheapest option doesn't net you the protection you need. Especially considering there is such a wide range of options that you have to save yourself money. You can also look into what type of coverage you may not need, to figure out if you're overpaying or not.

How does Clearsurance rate and rank the best renters insurance companies in Florida?

Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:

• Price
• Customer Service
• Claim service
• Likelihood to renew

The algorithm also takes into account the percentage of what customers say the company does well (strengths) compared to the percentage of what customers say the company could do better (opportunities).

Finally, there is also a confidence factor based upon the number of reviews a company has by insurance product. If the total number of reviews is less than 100, then a confidence deduction is applied to the star rating. The maximum impact of this deduction occurs when there are less than 25 reviews. Companies with 100 or more reviews, aged two years or less, receive 100% weighting (no deduction), while companies with 50 to 99 customer reviews receive a weighting of 95%, 25 to 49 reviews receive a weighting of 90%, and companies with less than 25 reviews a weighting of 85%.

The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings. Not only should you take to heart what customers are saying, but don't forget to look at the financial strength of the company you're researching. You want them to be able to back up your actual policy and any claims you may have to file.

Do you have a renters insurance guide?

As we mentioned above, there are common misconceptions regarding what is and isn't covered by a renters insurance policy. Before you purchase a policy from one of these best and cheapest renters insurance companies in Florida, you should be sure that you understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property? Plus, if your apartment becomes uninhabitable from an incident, such as a Florida hurricane, some policies may cover your expenses as you find temporary housing.

It is important to know all that you can before taking out a renters insurance policy. Learn about the insurance company and the protection that their policies offer before making a final decision. Know and understand your policy limits and ask about what additional coverages you can add to your protection.

While we all want the most affordable renters insurance, it is important not to sacrifice the quality of your protection just to save some money. Talk to a local insurance agent about what insurance company is right for you, and what insurance options they offer to protect your personal items.

We want to ensure that you're equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Are you looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.