The Best and Cheapest Renters Insurance in Florida

Living in Florida has its perks — like 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 $151. 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.

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

Note: 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

If you’re looking for good coverage from a reliable company, consider buying a policy from one of these highly rated carriers.

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.

Amica is known for strong customer service. It topped the rankings for consumer satisfaction in a recent J.D. Power study and draws a very low rate of complaints. Looking to buy a home someday? You may be able to get an Amica Essentials policy, which lets you earn up to $500 in credit toward a future homeowners policy from Amica.

For further details, check out our Amica renters insurance review.

The country’s largest home insurer, State Farm offers a variety of useful add-ons for renters. For example, you can add identity restoration coverage to your policy for $25 a year. This coverage helps you monitor and recover your credit after an identity theft incident. Another useful feature you can add to a State Farm renters policy is inflation coverage. This endorsement raises your coverage limits to keep up with rising prices.

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

Allstate has a user-friendly website where you can get a renters insurance quote and manage your policy. For those who’d rather discuss your policy with a human, the company has a network of agents across the country. You can add coverage for things like identity theft and valuable items.

Learn more with our Allstate renters insurance review.

Liberty Mutual offers many ways to save on renters insurance, including a discount for buying online. Got more than one piece of valuable jewelry? You may want to consider the company’s blanket jewelry coverage, which covers multiple pieces with no deductible. You can also upgrade from actual cash value to replacement cost coverage. That means you’ll get a higher payout if you have to file a claim.

For more info, read our Liberty Mutual renters insurance review.

Unlike most renters policies, USAA renters insurance covers flood and earthquake damage. It also includes replacement cost coverage for your belongings, so any claim payouts will be enough to buy brand-new items.

USAA sells policies only to active military, veterans, some federal workers and their families. If you live in military housing, you may be eligible for a renters insurance discount.

Check out our USAA renters insurance review for details.

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 similar to the national average of $151.

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 $155 per year for renters insurance, according to NerdWallet’s rate analysis. That’s about 2% more than those with good credit.

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 $199 per year, while renters in Orlando pay just $154 per year, on average.

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

» MORE: How much is renters insurance?

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

Hurricanes, tropical storms and tornadoes

Most renters policies won't cover damage due to flooding. Say you live in a ground-floor apartment and your belongings are ruined by a hurricane storm surge. You probably don'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 areas of Florida, you might need to buy this coverage separately as well. Check your policy or call your agent to make sure you understand what’s included.

Sinkholes

Florida law requires insurance companies to cover damage from “catastrophic ground cover collapse.” This means a sudden collapse that leaves a visible depression in the ground. For coverage to apply, the building foundation must be damaged 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, Citizens Property Insurance includes sinkhole loss coverage in all of its renters policies.

The average annual premiums listed above can give you a rough idea of what to expect, but your own price 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.

Where you live

If you live in a hurricane-prone coastal community or a neighborhood with more crime than average, you may pay higher rates. Your home’s proximity to fire hydrants or stations can also affect your cost.

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 it will cost. If you have higher-end furnishings or a larger home, you’ll probably pay more than someone with secondhand furniture in a studio apartment.

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

Other policies

Many carriers offer bundling discounts if you buy both renters and auto insurance.

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

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 877-693-5236 or get other services on the agency’s website.

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