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The cheapest renters insurance company in Florida is Citizens Property Insurance, according to NerdWallet’s rate analysis.
State Farm, Nationwide and Allstate are a few of the best renters insurance companies in Florida.
The average cost of renters insurance in Florida is $152 per year.
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 — just a little more than the national average of $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 three 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.
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.
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.
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 renters and car insurance through the company or if you sign up for autopay.
Do 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.
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.
Average annual cost
Average monthly cost
Port St. Lucie
West Palm Beach
» 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.
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.
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.
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.
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.
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.
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.
Many insurance companies offer bundling discounts if you buy renters and auto insurance from them.
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 the agency’s website.
Looking for more insurance in Florida?
Renters insurance star rating methodology
NerdWallet’s renters insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverage options, discounts and online experience. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full renters insurance rating methodology.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2019-2021. To assess how insurers compare with 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.
Renters insurance rates methodology
To find the national cost of renters insurance, NerdWallet calculated the median rate for 30-year-old tenants from multiple insurance companies in every ZIP code across all 50 states and Washington, D.C. To find the average cost of renters insurance by state and city, we calculated the median rates from all insurance companies where coverage and rates were available. To find the average cost of renters insurance for each company, we calculated the mean for that company’s rates in all ZIP codes across the state.
Sample tenants were nonsmokers with good credit and no recent claims, 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.
To see rates for renters with poor credit, we changed the credit tier from “good” to “poor” as reported to the insurer.
These are sample rates generated through Quadrant Information Services. Your own rates will be different.