The Best Cheap Renters Insurance in Florida for 2022

NerdWallet looked at rates from companies across Florida to find the cheapest options in the Sunshine State.

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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.

NerdWallet compared rates from companies across the state to find the best cheap renters insurance in Florida.

How much is renters insurance in Florida?

The average cost of renters insurance in Florida is $211 a year, or about $18 a month, according to NerdWallet’s rate analysis. That’s more than the national average of $179.

Below is the average cost of renters insurance in 25 of Florida’s largest metro areas. The cheapest of these is the Palm Bay-Melbourne area, where renters insurance is $144 a year, on average. Those in Panama City Beach pay the most at $285 a year, on average.

City

Average annual rate

Average monthly rate

Cape Coral-Fort Myers

$192

$16

Crestview-Fort Walton Beach

$250

$21

Deltona-Daytona Beach

$166

$14

Gainesville

$204

$17

Homosassa Springs

$237

$20

Jacksonville

$187

$16

Key West

$205

$17

Lake City

$200

$17

Lakeland-Winter Haven

$196

$16

Miami-Fort Lauderdale-West Palm Beach

$216

$18

Naples

$205

$17

North Port-Sarasota-Bradenton

$184

$15

Ocala

$207

$17

Orlando-Kissimmee-Sanford

$199

$17

Palatka

$201

$17

Palm Bay-Melbourne

$144

$12

Panama City

$285

$24

Pensacola

$268

$22

Port St. Lucie

$181

$15

Punta Gorda

$199

$17

Sebastian-Vero Beach

$202

$17

Sebring

$200

$17

Tallahassee

$228

$19

Tampa-St. Petersburg-Clearwater

$239

$20

The Villages

$197

$16

Cheap renters insurance companies in Florida

NerdWallet sampled rates across the state from a variety of companies, including both well-known national insurers and smaller, Florida-based providers. Here are the companies offering the cheapest Florida renters insurance.

Company

Average annual rate

Average monthly rate

Citizens Property Insurance

$108

$9

State Farm

$137

$11

Allstate

$142

$12

American Integrity

$163

$14

Universal Property

$166

$14

Tower Hill

$181

$15

American Strategic

$193

$16

About the cheapest companies

Citizens Property Insurance: This nonprofit entity was created by the Florida state government to provide property insurance to those who can’t get it anywhere else. 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.

State Farm: 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 of State Farm’s renters policies is its inflation coverage, which raises your coverage limits to keep up with rising prices. To learn more, read our State Farm renters insurance review.

Allstate: Renters who are retired and at least 55 years old may be able to save up to 25% on their Allstate renters policy. You may also be able to save if you get both renters and car insurance through the company, or if your home has certain safety and security features. If you live in an area prone to flooding, ask your Allstate agent about a flood insurance policy backed by the National Flood Insurance Program. Check out our Allstate renters insurance review for more details.

American Integrity: This Florida carrier offers a few coverage add-ons you may find useful. If you’ve got valuable jewelry or expensive computers, you can boost your coverage limits to make sure they’re adequately insured. You can also get reimbursed for identity theft recovery and cyber attacks, or add coverage for stuff in a self-storage facility. However, the company has drawn significantly more consumer complaints than expected to state regulators, according to the National Association of Insurance Commissioners.

Universal Property: Another Florida insurer (headquartered in Fort Lauderdale), Universal Property offers a variety of discounts. You may be eligible for savings if you are older than 65, haven’t filed any recent claims or have a burglar alarm in your home. However, Universal Property has drawn many more customer complaints than expected for a company of its size, according to the NAIC.

Tower Hill: This Gainesville-based insurance company offers several ways to customize your insurance policy, including extra optional coverage for computers, identity fraud and credit card forgery. Policyholders can report claims on Tower Hill’s website or by phone.

American Strategic: If you buy your renters insurance through Progressive, this is one of the companies that might underwrite your policy (it’s a Progressive subsidiary also known as Progressive Home). To learn more, see our Progressive renters insurance review.

Cheap Florida renters insurance from the best companies

If you prefer to buy insurance from widely available companies with a strong reputation, consider one of the following insurers from NerdWallet’s best renters insurance companies. Select each company’s name to read our review.

Company

NerdWallet rating

Average annual rate

4.5

NerdWallet rating 

$137

4.5

NerdWallet rating 

$142

What to know about Florida renters insurance

Florida is prone to certain natural disasters — hurricanes, tropical storms, sinkholes and tornadoes — and they aren’t all covered by a standard renters insurance policy.

For example, 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, your belongings likely won’t be covered unless you’ve added flood insurance to your policy. Learn more about flood insurance for renters.

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.

Florida is highly prone to sinkholes, and state law requires that all property insurance companies cover damage due to “catastrophic ground cover collapse.” Note, though, that this does not include less-than-catastrophic damage from sinkholes. More comprehensive sinkhole coverage is generally available at additional cost, though Citizens Property Insurance Corp. includes sinkhole loss coverage in all of its renters policies.

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

Although insurance companies don’t use a traditional credit score to set your rates, they typically look at a similar measure called a credit-based insurance score to judge how likely you are to file a claim. Improving your credit may help you pay less for renters insurance.

Below are the five cheapest companies in Florida for those with poor credit.

Company

Average annual rate

Average monthly rate

Citizens Property Insurance

$108

$9

American Integrity

$163

$14

Universal Property

$166

$14

Tower Hill

$181

$15

Allstate

$205

$17

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. Below are the five cheapest companies in Florida for renters who’ve filed a recent theft claim.

Company

Average annual rate

Average monthly rate

Citizens Property Insurance

$108

$9

Allstate

$153

$13

American Integrity

$163

$14

Universal Property

$166

$14

State Farm

$168

$14

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. Just make sure you can access enough cash to pay 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.

Other policies

Many insurance companies offer bundling discounts if you buy both 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.

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 its website.

For more insurance options in Florida, see:

Frequently asked questions

It’s not required by law, but some landlords may require renters insurance. Even if yours doesn’t, you may want to purchase a policy to cover your belongings in case of fire, theft or other disasters. See six reasons not to skip renters insurance.

You can buy renters insurance in Florida from a mix of nationally known companies like State Farm and Travelers and local insurers such as Universal Property and Tower Hill. Shop around for renters insurance quotes to find the right company for you.

A standard renters policy will cover your belongings for fires, theft and wind damage, among other disasters, but it generally won’t cover your belongings if your home is flooded. For that, you’ll need separate flood insurance.

Methodology

NerdWallet averaged rates for 30-year-old renters from insurance companies in every ZIP code across the state. Sample tenants were nonsmokers with good credit living in a two-bedroom apartment.

They had a $500 deductible and the following coverage limits:

  • $30,000 in personal property coverage.

  • $100,000 in liability coverage.

  • $10,000 in additional living expenses coverage.

  • $1,000 in medical payments coverage.

We used the same assumptions for all other renter profiles, with the following exceptions:

  • We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for renters with poor credit.

  • For renters with a history of claims, we added a single theft claim to their record.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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