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If you want to protect your personal property from unexpected damage or loss at an affordable price, renters insurance can help. MoneyGeek’s research shows that the cheapest renters insurance in Florida costs $9 per month. By shopping around and comparing quotes, Florida renters can save about $15 each year.
MoneyGeek ranked the top renters insurance companies in Florida to help you find the best policy at the most affordable price. Scores were calculated based on affordability, financial strength and customer service.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
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Cost is one of most important consideration when purchasing a policy. Based on average premiums, Florida's most affordable carrier is Travelers. On average, Travelers costs $110 annually or $9 per month. Allstate is the second cheapest provider, with plans costing $123 per year or $10 monthly.
These average monthly and yearly quotes are based on premiums across various Florida ZIP codes for a policy that includes $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible.
Personal Property Coverage:
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City | Cheapest Company | Average Annual Premium |
---|---|---|
Hialeah, FL | State Farm | $113 |
Hialeah, FL | Travelers | $133 |
Hialeah, FL | Allstate | $187 |
Jacksonville, FL | Travelers | $100 |
Jacksonville, FL | Allstate | $101 |
Jacksonville, FL | State Farm | $142 |
Miami, FL | State Farm | $132 |
Miami, FL | Travelers | $133 |
Miami, FL | Allstate | $187 |
Orlando, FL | Allstate | $82 |
Orlando, FL | Travelers | $100 |
Orlando, FL | State Farm | $110 |
St. Petersburg, FL | Allstate | $88 |
St. Petersburg, FL | Travelers | $100 |
St. Petersburg, FL | State Farm | $114 |
Tampa, FL | Travelers | $100 |
Tampa, FL | Allstate | $102 |
Tampa, FL | State Farm | $112 |
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
Cost is not the only factor to consider when shopping for the best renters insurance in Florida. You want to make sure to choose a company that can support you with timely and effective service.
To rank the best renters insurance companies in the state, MoneyGeek evaluated providers based on affordability, customer service scores from J.D. Power and Associates and financial stability ratings from AM Best.
According to this research, Travelers ranked first with a score of 94 out of 100. Allstate ranked second with 74 points.
Travelers offers replacement cost coverage and protection for jewelry and other valuables to policyholders who want additional coverage options. Discounts are available to customers who bundle their policies or have a protective device in their home. It’s easy to get a quote on the Travelers’ website. You can also check out their tools and resources to learn more about coverage.
Allstate provides standard renters insurance in Florida. For an extra cost, policyholders can add more coverage for perils like identity theft and floods. Customers who are claim-free, bundle policies or have security systems can get discounts on their premiums. Allstate also offers a feature where you can create a photo log of your possessions. You can use this feature to figure out how much coverage you actually need.
Aside from the standard renters insurance policy, State Farm also offers customized options. These include coverage for situations like earthquakes and identity theft. It is easy to get a personalized quote through State Farm’s online tool. They also provide helpful resources on renters insurance if you want to learn more about maintaining a safe home, coverage and more.
According to market share data, the largest renters insurance companies in Florida are Universal Insurance with 10% of the market share, State Farm (6%), Tower Hill (6%), Citizens Property Insurance (5%) and USAA (4%). These five companies make up over 31% of all renters insurance policies in Florida.
Buying a policy from a larger insurance company can give you the confidence that your policy is backed by a financially stable provider that can pay out your legitimate claims.
renters insurance is equal to the average.
The average cost of renters insurance in Florida is $119 annually, which is $40 cheaper than the annual national average. These rates are based on an average consumer with $20,000 in personal property coverage, liability coverage of $100,000 and a deductible of $500.
To save money, you should try to compare renters insurance quotes from various companies. For example, you could save $13 per year by choosing Travelers, the cheapest provider in Florida, instead of State Farm, the most expensive option.
The cost of renters insurance in Florida depends on various factors, such as where you live and the amount of coverage you need. Keep these in mind when shopping for a policy.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
Renters insurance is a great way to protect your belongings at an affordable cost. It can safeguard your property during events like burglary, fire and severe weather conditions.
In Florida, 33.7% of the population are renters and the average cost of rent is $1,238 per month. A standard policy with $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible policy costs an average of $10 per month. This is 0.80% of the price of rent.
When buying renters insurance, it is important to know what is covered and what is not. Most plans cover personal property, additional living expenses, liability insurance and medical payments. You may need to pay more if you want extra protection.
Renters insurance in Florida typically covers damages caused by certain natural disasters. These may include hail, tornadoes, lightning and wildfires.
Many emergencies are covered by renters insurance. However, it does not provide protection for all unexpected events. Here are some of the most common issues that renters insurance does not cover.
When purchasing an insurance policy, it is crucial to read and understand the fine print. You should also ask your agent if you have any questions to avoid misunderstandings or issues when you file a claim.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
MoneyGeek analyzed renters insurance premiums from 3 of the top insurance companies in Florida that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Florida. Quotes were gathered for policies with personal property coverage of $20,000, $50,000 and $100,000; liability coverage of $100,000 and a deductible of $500.
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