The Best and Cheapest Renters Insurance in Florida

Living in Florida has its perks — beaches, sunshine and never having to shovel your car out of the snow — but renters should also be prepared for the perils of life in the Sunshine State. Renters insurance in Florida can cover your belongings after damage from hurricanes, tropical storms, sinkholes and other disasters.

Florida renters insurance costs $152 per year, on average. For comparison, the national annual average is $148. NerdWallet compared coverage options and rates from companies across the state to find the best and cheapest renters insurance in Florida.

Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.

The cheapest renters insurance in Florida

Below are the six companies offering the cheapest renters insurance rates in Florida, according to our analysis.

Note that Citizens Property Insurance is the state’s insurer of last resort, so it’s not available to everyone. You can buy insurance through Citizens only if you’ve been denied by other Florida insurers or if quotes from other companies are more than 20% higher than the rate Citizens offers you.

» MORE: The cheapest renters insurance

The best renters insurance in Florida

If you’re looking for good coverage from a reliable company, consider buying a policy from an insurer on our list of the Best Renters Insurance Companies. Below are two top-rated insurers to consider.

More about the best renters insurance companies in Florida

See more details about each company to help you decide which one is best for you.

This large national insurer offers a variety of coverage options to choose from. For instance, you may be able to add Brand New Belongings coverage to make sure you get the maximum possible payout for belongings that are stolen or destroyed. You can also buy extra coverage for valuable jewelry or damage from flooding. Note that Florida renters may need to work with an agent to get a policy rather than buy one online.

Learn more with our Nationwide renters insurance review.

The country’s largest insurer, State Farm offers identity restoration coverage that you can add to your renters policy for $25 a year. This coverage helps you monitor and recover your credit after an identity theft incident and will reimburse associated expenses up to $50,000. Another useful feature you can add to a State Farm renters policy is inflation coverage, which raises your coverage limits to keep up with rising prices.

To learn more, read our State Farm renters insurance review.

How much is renters insurance in Florida?

The average cost of renters insurance in Florida is $152 a year, or about $13 a month, according to NerdWallet’s rate analysis. That’s about 3% more than the national average of $148.

In most states, including Florida, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

In Florida, those with poor credit pay an average of $165 per year for renters insurance, according to NerdWallet’s rate analysis. That’s about 9% more than those with good credit.

Average cost of renters insurance in Florida by city

How much you pay for Florida renters insurance will depend on where you live. For example, the average cost of renters insurance in Miami is $231 per year, while renters in Orlando pay just $159 per year, on average.

Below are average rates for renters insurance in 25 of Florida’s largest cities.

» MORE: How much is renters insurance?

What to know about Florida renters insurance

Florida is prone to certain natural disasters — hurricanes, tropical storms, sinkholes and tornadoes — and a standard renters insurance policy won’t cover them all.

Hurricanes, tropical storms and tornadoes

Most renters policies exclude damage due to flooding. That means if you live in a ground-floor apartment and your belongings are ruined by a hurricane storm surge, you likely won’t have coverage unless you’ve added flood insurance to your policy. Learn more about flood insurance for renters.

» MORE: Flood insurance in Florida: Cost and coverage guide

Most renters policies do cover wind damage, but in high-risk “wind-pool areas” of Florida, you might need to purchase this coverage separately as well. Check your policy or call your agent to make sure you understand what’s included.

Sinkholes

Florida is highly prone to sinkholes, and state law requires that all property insurance companies cover damage due to “catastrophic ground cover collapse.” This means an abrupt collapse that leaves a visible depression in the ground and damages the foundation of a covered building to the point where the structure is condemned. Sinkhole damage that doesn’t meet all these conditions isn’t covered.

You can generally buy more comprehensive sinkhole coverage for an additional cost, though Citizens Property Insurance includes sinkhole loss coverage in all of its renters policies.

» MORE: Hurricane prep: What Florida renters need to know

What determines Florida renters insurance rates?

The average annual premiums listed above can give you a rough idea of what to expect, but your own renters insurance quotes will depend on several factors.

Your credit

As noted above, renters with a checkered credit history often pay more for insurance than those with good or excellent credit. Building your credit may help you pay less for renters insurance.

» MORE: How poor credit could raise your renters insurance rates

Where you live

If your home is in a coastal community that’s at high risk for hurricanes or you live in a neighborhood with more crime than average, you may pay more for renters insurance. Your home’s proximity to fire hydrants or stations can also affect your rates.

Your claims history

If you’ve filed any renters insurance claims in the past few years, your insurer may charge you more.

Your home’s features

Do you live in a gated community or a building with a security guard? Do you have a home security system or fire alarm? Such features could earn you discounts on renters insurance.

Your deductible

Choosing a higher deductible can save you money on your Florida renters policy. (A deductible is the amount of a claim you need to pay.) Just make sure you can access enough cash to cover the deductible in a pinch.

Your coverage limits

In general, the more coverage you need, the more you’ll pay. If you have higher-end furnishings or a larger home, you’ll probably need more personal property coverage (and therefore pay more for your policy) than someone with a few pieces of secondhand furniture in a studio apartment.

» MORE: What is renters insurance, and what does it cover?

Other policies

Many insurance companies offer bundling discounts if you buy renters and auto insurance from them.

Your dog

Because renters liability insurance typically covers damages if your pet bites someone, you might pay more — or not be covered at all — if you have a dog. Many insurance companies consider certain breeds to be a higher risk, including pit bulls and Doberman pinschers.

» MORE: Why your dog needs liability insurance even if she’s perfect

Florida Office of Insurance Regulation

Have complaints or questions about your Florida renters insurance? The Florida Office of Insurance Regulation may be able to help. You can call the consumer helpline at 877-MY-FL-CFO (877-693-5236) or access other services on the agency’s website.

» MORE: Can I share renters insurance with my roommate?

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