State Farm and Nationwide are the best cheap renters insurance companies in Florida. State Farm ranks highest for affordable rates, while Nationwide has the best customer reputation.
Cheap Renters Insurance in Florida
Updated: April 22, 2025
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Key Takeaways
State Farm offers the cheapest renters insurance in Florida, starting at $273 annually. Nationwide is the best overall company.
Renters insurance in Florida costs around $45 per month.
To get the best and most affordable renters insurance, determine your coverage needs first, research costs and compare multiple quotes.
Florida Renters Insurance Quote Estimates
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
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Rates updated:
Apr 24, 2025
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Best Cheap Renters Insurance Companies in Florida
| UPC | No Data | $37 | $444 |
| Nationwide | 97 | $24 | $285 |
| State Farm | 95 | $23 | $273 |
| Florida Peninsula | 89 | $41 | $491 |
| Allstate | 88 | $35 | $424 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Compare Personalized Best Cheap Renters Insurance in Florida
While the list above covers most renters, it may not reflect the best options for your needs. Below is a filterable table tailored to match your profile, helping you find the best choice in Florida.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Contents Replacement:Yes
Select
Credit Tier:Good
| Nationwide | 96 | $20 | $243 |
| State Farm | 95 | $17 | $202 |
| Allstate | 90 | $24 | $289 |
| Florida Peninsula | 88 | $38 | $455 |
| Universal Property | 82 | $33 | $391 |
Best Florida Renters Insurance Reviews
Below are more details about our top picks for affordability, customer service and coverage options for renters insurance in Florida.
State Farm: Most Affordable Plans
pros
Most affordable rates
Large discount offering selection
High financial stability ratings
cons
Below-average claims satisfaction
COMPANY HIGHLIGHTS
State Farm offers the cheapest renters insurance in Florida, averaging $23 monthly. It ranks seventh among large providers in J.D. Power's customer satisfaction study. State Farm provides several coverage add-ons, including earthquake insurance and scheduled personal property coverage.
Nationwide: Best for Coverage Options
pros
Affordable rates for higher coverage
Most extensive add-on coverage selection
High claims satisfaction ratings
cons
Lower-than-average overall customer satisfaction ratings
Less affordable for lower property damage coverage levels
COMPANY HIGHLIGHTS
Nationwide is Florida renters' second-cheapest provider, balancing affordability with service and coverage options. In J.D. Power studies, it ranks 12th of 15 for customer satisfaction and sixth of 18 for claims satisfaction. Nationwide's unique coverage options include credit card coverage and add-ons to replace selected personal property at actual cash value.
Average Cost of Renters Insurance in Florida
The average cost of renters insurance in Florida is $537 per year, much higher than the national average of $242. These rates reflect a policy with $50K in personal property coverage, $100K in liability limits and a $1,000 deductible.
Your actual rate may vary based on your profile. Check our table below to see major factors affecting renters insurance premiums and find average costs for your profile.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Credit Tier:Good
Select
Contents Replacement:Covered
| $50K Personal Property / $100K Liability | $45 | $537 |
Average Florida Renters Insurance Cost by City
Renters insurance costs vary widely by city. The average annual premium in Gainesville is $269; in Miami, it's $748 for a policy with $50K in personal property coverage and $100K in liability coverage. Check the table below for the average cost in your city.
| Brandon | $316 |
| Cape Coral | $345 |
| Clearwater | $375 |
| Coral Springs | $587 |
| Davie | $550 |
| Fort Lauderdale | $673 |
| Gainesville | $269 |
| Hialeah | $570 |
| Hollywood | $606 |
| Jacksonville | $339 |
| Lakeland | $291 |
| Lehigh Acres | $343 |
| Miami | $748 |
| Miami Gardens | $599 |
| Miramar | $590 |
| Orlando | $292 |
| Palm Bay | $308 |
| Pembroke Pines | $568 |
| Pompano Beach | $648 |
| Port St. Lucie | $505 |
| Spring Hill | $303 |
| St. Petersburg | $381 |
| Tallahassee | $262 |
| Tampa | $347 |
| West Palm Beach | $608 |
*This table shows rates for a renter with good credit and no claims history. Policies include $50K property damage coverage, $100K liability coverage, a $1,000 deductible and guaranteed replacement.
Florida Renters Insurance: Buyer's Guide
Choosing the right renters insurance in Florida can be difficult with all the available options. This guide will help you find the best coverage for your needs.
How to Find the Best Cheap Renters Insurance in Florida
Finding the best and cheapest renters insurance for your needs can be challenging. Follow this step-by-step guide to find your ideal option.
- 1
Determine the right coverage level
Find out how much coverage you need based on your possessions' value, weather risks, crime rates and pet considerations.
- 2
Research costs and discounts
Learn average costs for similar profiles to judge if your quotes are reasonable. Look for discounts to lower your premiums.
- 3
Compare providers
Research companies' reputations, costs and coverage options before getting quotes. Create a shortlist of providers to consider.
- 4
Consider bundling
Check if bundling renters and auto insurance with your current provider saves money. Auto insurance savings might cover your renters policy cost.
- 5
Compare multiple quotes through different channels
Get at least five quotes with similar coverage. Use comparison sites, provider websites, brokers and phone calls, as quotes vary by method.
- 6
Compare rates annually
Insurance rates change frequently. Compare rates yearly to avoid overpaying for renters insurance.
How Much Renters Insurance Do I Need in Florida?
Renters insurance isn't required by law in Florida, but most landlords require at least $100K in liability coverage. Requirements may vary based on your rental history, credit and pet ownership. Consider how much property you want covered, weather risks, crime in your area and if you own a pet.
Use our calculator below to determine your ideal personal property limits and how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Florida Renter Risk Considerations
Florida renters face certain risks that may require additional insurance coverage:
- Weather risks: Flooding is Florida's most common natural disaster. Your rental may also face hurricane and tropical storm risks depending on your location. Standard coverage may not cover these threats, so you must purchase separate coverage.
- Crime risks: Florida ranks 35th nationwide for property crime rate and first for identity theft and fraud. Consider add-ons or supplemental property damage coverage.
- Pet ownership: You might need pet liability coverage depending on your pet. Check how different providers handle pet coverage and whether it's included in standard policies.
- Property types: Standard policies may not fully cover special tools, valuables, electronics or structures like pools on rented property. Look for companies offering specific add-ons for these items.
How Does Renters Insurance Coverage Work?
Renters insurance typically covers damage to your property, liability for harm to others and loss of use related to your rental home. Additional coverage options can make your policy more comprehensive. Common types of renters insurance coverage include:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Reimburses you for personal property within your rental up to a specified limit. Without replacement cost coverage, reimbursement is based on the item's actual cash value, not the original purchase price. Replacement cost coverage ensures you receive a new item of a similar kind and quality. | |
Standard | Protects you if someone is injured on your property. It covers medical expenses and legal costs and is often required by landlords. | |
Additional living expenses | Standard | Helps with expenses like meals, lodging and transportation if you lose access to your rental home. Depending on the insurer, the limit is either a percentage of your personal property coverage or a flat amount. |
Natural disasters | Add-on | Covers personal property damage caused by earthquakes and floods. Separate policies for these disasters are available through select providers. |
Parts/Equipment | Add-on | Separate policies that cover tools, appliances and utilities in your rental home |
Scheduled property | Add-on | Allows you to insure certain valuable items up to a specified limit |
Identity theft | Add-on | Protects you financially from identity theft, covering stolen funds and legal costs. Some policies also offer monitoring services to help prevent identity theft. |
Pet liability | Add-on | Protects against injuries caused by your pet on your rental property, though a standard policy may cover this |
Modifications | Add-on | Covers parts of your rental property that aren't original, including custom additions and modifications |
Food loss | Add-on | Reimburses you for food lost due to covered incidents |
Best Renters Insurance in Florida: Bottom Line
State Farm and Nationwide offer the best and most affordable renters insurance in Florida. State Farm has the lowest average monthly cost of $23 and high customer satisfaction. Consider these options, but always compare companies and prices to find the best deal.
Renters Insurance in Florida: FAQ
Review our experts' answers to frequently asked questions below:
What is the cheapest renters insurance company in Florida?
State Farm offers the cheapest renters insurance in Florida, with an average annual premium of $273 or $23 per month.
What is the best renters insurance company in Florida?
Nationwide is the best renters insurance company in Florida, with a MoneyGeek score of 97 out of 100 due to its exceptional balance of cost effectiveness and comprehensive coverage.
How much does renters insurance cost in Florida?
The average cost of renters insurance in Florida is $537 per year or $45 per month, 122% higher than the national average.
Is renters insurance required in Florida?
Renters insurance isn't legally mandated in Florida, but your landlord may require it. Evaluating your needs and circumstances can help determine whether buying a policy is right for you. Some reasons to get renters insurance include financial protection against common perils and liability costs of third-party injuries.
How We Found the Best Cheap Renters Insurance Companies
We based our affordability score (60% of the total score) on quotes for a profile with:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
Our complete scoring also considered:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- National Centers for Environmental Information. "Florida Summary." Accessed April 22, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 22, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 22, 2025.