At one dollar cheaper than the national monthly average of $14.91, renters insurance in Florida isn’t as expensive as you might think, even though the Sunshine State faces plenty of natural disaster threats every year. We at the MarketWatch Guides team ranked the best renters insurance providers in Florida based on price, coverage options and more to help you find the best coverage for your needs.
Best Renters Insurance in Florida
We rated 27 companies on a number of factors and determined the following five to be the best and most affordable providers of renters insurance in Florida.
- Lemonade Best for Florida Renters
- State Farm Best for In-Person Service
- Nationwide Best for Customizable Coverage
- Allstate Best for Seniors
- Progressive Best for Bundling
Cheapest Renters Insurance in Florida
Below, you’ll find the cheapest renters insurance options in Florida. Security First offers coverage at a monthly rate that’s about 37% cheaper than the state average.
But keep in mind that price isn’t the only important factor to consider when evaluating renters insurance companies. You want to be sure that your provider offers coverage options, including add-on protections, that match your specific needs.
| Insurance Company | Average Monthly Premium |
|---|---|
| Security First | $8.77 |
| Nationwide | $9.21 |
| Allstate | $10.57 |
| State Farm | $11.19 |
| Amer Integrity Insurance | $12.36 |
| Lemonade | $16.04 |
The Best Florida Renters Insurance in Detail
Get details on our top Florida renters insurance providers in the sections below.
Lemonade topped our list as the best renters insurance provider in Florida due to its fast, simple sign-up and claims processes, as well as its affordable pricing. Using AI technology, Lemonade has an entirely digital application process. It also provides fast claims resolution and allows customers to file a claim using its mobile app.
Offers a fast digital process, including for enrollment and filing claims
Provides quick claims resolution using AI
Basic policy starts at $5 per month
Does not offer endorsement against severe weather events
No AM Best rating
Lemonade customers can save on the cost of renters insurance with these two discounts:
- Bundling
- Protective devices
If you want to extend your policy’s coverage, you might be able to buy extra insurance for:
- Equipment breakdown
- Expensive jewelry
- Damage to belongings from pets
- Water backup damage
- Water damage
State Farm is a good choice for Florida renters who value an in-person insurance experience. It has a robust network of helpful local agents in more than 200 cities across Florida who can help you identify your area’s specific risks and find suitable coverage for your needs.
You can also lower your premium with State Farm by using the insurer’s discounts for bundling policies or installing home security devices. In our survey, Florida renters with State Farm coverage most often applied discounts for good credit, customer loyalty and being claims-free.
Wide network of local agents, which may improve customer experience
Provides a convenient online estimate process
Strong performance in J.D. Power’s home/renters insurance study
Endorsement against flood damage is not available
Low Better Business Bureau rating for failing to respond to customer complaints
State Farm offers several discounts on renters insurance policies. You may qualify for one or more of the following:
- Bundling
- Home security devices
- Claims-free
- Loyalty
- Good credit
You can extend your policy’s coverage by adding these endorsements:
- Earthquake damage
- Identity restoration
- Personal liability umbrella policy
- Pet medical insurance
Nationwide can be ideal for renters insurance if you want to choose from many endorsement options that help you tailor your policy according to your needs. One unique endorsement from Nationwide is its “Brand New Belongings” coverage, which reimburses you for the difference between the depreciated value of the item and the amount it cost to be repaired or replaced. Nationwide also gives Florida renters the option to add flood protection.
Allows you to tailor your coverage with many valuable policy endorsements
Received an above-average customer satisfaction score in our survey
Provides a separate flood insurance policy
Doesn’t offer online quotes for Florida customers
You can save money on a policy with Nationwide if you qualify for one of these discounts:
- Claims-free
- Multiple policies
- Protective devices
- Good credit
You can extend your policy’s limits through these valuable endorsements:
- Earthquake
- New belongings
- Theft extension
- Valuables plus
- Water backup
Allstate is an ideal option for senior renters in Florida because of its 55-and-retired discount, which can save 25% off premiums. The renter must be fully retired — not working or seeking full-time employment — and must be over 55 years old to qualify.
Gives qualifying seniors up to 25% off on premiums
Makes it easy to bundle your renters coverage with other policies, such as auto insurance
Provides many additional coverages, which can add valuable protection
Lackluster performance in the J.D. Power Home Insurance Study
Allstate offers these discounts:
- 55-and-retired
- Bundling
The insurer lets you add these additional coverages to your policy:
- Blanket jewelry coverage
- Flood insurance
- Identity theft restoration
- Scheduled personal property coverage
Progressive is a sound option for Florida residents, especially those looking to bundle a renters policy with other coverage, such as auto insurance. The insurer makes it easy to buy a bundled policy and provides a significant discount on premiums for customers who have more than one type of coverage with Progressive.
Offers a significant bundling discount if you have more than one policy with Progressive
Provides additional coverage against natural disasters
100% satisfaction score among Florida policyholders in our renters insurance survey
Coverage might vary depending on the underwriting company
Scored below average in the J.D. Power Home Insurance Study
With Progressive, the following discounts are available to Florida renters:
- Bundling
- Pay in full
- Quote in advance
- Received documents by email
- Secure/gated community
Progressive doesn’t offer many endorsements on renters coverage, but those looking for additional protection may consider the following extra coverages:
- Personal injury
- Water backup
How Much Does Renters Insurance Cost in Florida?
Renters insurance costs $163 per year or $13.91 per month on average in Florida, based on our research. Keep in mind that the size of your rental, your specific location and any endorsements or discounts will impact the cost of your policy. Compare the average annual costs from the top renters insurance providers using the chart below.
| Personal Property Amount | Average Renters Premium |
|---|---|
| $15,000 | $10.91 |
| $25,000 | $13.91 |
| $50,000 | $19.68 |
| $75,000 | $22.40 |
Cheapest Renters Insurance in Florida Cities
It’s essential to prioritize policy costs when buying renters insurance, but it should not be your only consideration. Make sure the policy you want delivers sufficient coverage in areas where you have the most need. Security First offers the cheapest renters insurance in Florida on average, with policies running $8.77 per month. Nationwide is a close second at an average of $9.21 per month.
Here’s a look at the cheapest renters insurance providers in some of Florida’s biggest cities:
| City | Average Premium | Cheapest Provider | Cheapest Provider Premium | Difference From City Average |
|---|---|---|---|---|
| Cape Coral | $12.01 | Security First | $7.42 | -$5 |
| Fort Lauderdale | $15.65 | Nationwide | $9.25 | -$6 |
| Gainesville | $12.31 | Security First | $6.83 | -$5 |
| Hialeah | $15.76 | Nationwide | $9.25 | -$7 |
| Hollywood | $15.89 | Nationwide | $9.25 | -$7 |
| Jacksonville | $13.42 | Security First | $7.83 | -$6 |
| Miami | $19.61 | Nationwide | $9.25 | -$10 |
| Miramar | $15.11 | Nationwide | $9.25 | -$6 |
| Orlando | $14.41 | Security First | $8.53 | -$6 |
| Palm Bay | $11.94 | Security First | $7.75 | -$4 |
| Pembroke Pines | $15.05 | Nationwide | $9.25 | -$6 |
| Port St. Lucie | $12.93 | Security First | $7.55 | -$5 |
| St. Petersburg | $11.82 | Security First | $6.92 | -$5 |
| Tallahassee | $12.51 | Security First | $6.83 | -$6 |
| Tampa | $13.69 | Nationwide | $9.17 | -$5 |
| West Palm Beach | $14.62 | Nationwide | $9.33 | -$5 |
How To Save on Renters Insurance
You might save on renters insurance in Florida if you reduce the risk of damage to your property and shop around when choosing your provider. There are a few steps you can take to help lower your costs:
- Protect your property against weather events: Severe weather events like hurricanes, torrential rain, floods and tornadoes are a significant risk in Florida. Residences with impact-resistant windows or storm shutters might lead to lower rates. In addition, renters can elevate valuable items off the floor to reduce the risk of damage.
- Improve your home’s security: If you live in a heavily populated area like Miami, Orlando or Tampa you may face a higher risk of theft and vandalism. You can save on your policy costs if you or your landlord protects your home by installing burglar alarms and security cameras.
- Compare rates: Since every insurer looks at your application differently, we recommend shopping around and getting quotes from at least three companies. You can then compare their coverage and pricing to choose the one that best fits your needs.
How We Gather Cost Data
Using data from Quadrant Information Services, an agency that provides property insurance solutions, we obtained multiple quotes for each provider in this article and compared average costs to the average annual renters insurance premium in the U.S. According to this data, the average cost of renters insurance is $179 annually. Read our full methodology to learn more.
For unavailable providers, we calculated the average annual premiums using quotes we obtained from the provider’s website or representatives. Quotes include comparable policy details in ZIP codes across the U.S. Your cost may vary depending on your location, coverage and personal property needs.
Common Renters Insurance Claims in Florida
Because landlord insurance covers the property that tenants live in, renters are not financially responsible for the same types of property damage that homeowners are. However, it doesn’t mean that renters are entirely exempt from risks. Here are some common losses that renters in Florida may experience.
Hazardous Weather
Floridians, especially those near the coast, know the risks posed by hurricanes, heavy rain and other extreme weather events. Renters insurance in Florida may pay for damaged personal belongings due to most weather-related incidents. While wind, hail, snow and ice collapse are usually covered perils, flooding and earthquakes are not covered by renters insurance.
According to our 2024 survey of 1,000 renters, more than half of these Florida renters said they have flood insurance and 73% of residents have filed a water damage claim. Make sure you are covered by adding a flood insurance endorsement to your renters insurance policy or signing up for a separate flood insurance policy with the National Flood Insurance Program.
Crime
Property crimes like theft or vandalism are a common claim across the country, and can be prevalent in dense cities throughout Florida. After a break-in, any destruction of your home’s structure would fall under your landlord’s policy. However, you would bear the costs of replacing your own damaged or stolen property, including electronics or furniture, unless you have proper renters insurance.
Is Renters Insurance in Florida Worth It?
We think it can be worth it to purchase renters insurance in Florida, since the state faces a significant risk of severe weather events, especially from hurricanes. These events can cause costly damage. Although you’re not legally required to buy coverage, having a policy can protect you against high repair costs.
Best Florida Renters Insurance: FAQ
Below, we answer some common questions about finding the best and cheapest renters insurance in Florida:
On average, a Florida renter will pay $13.91 per month for renters insurance. However, this is an average cost, and your actual premium can differ based on the value of your personal property and many other factors.
Renters insurance is not mandatory in Florida, but you’ll have to buy it if your landlord makes it a condition of the lease agreement. There are also many benefits to purchasing coverage, such as protecting your finances if you’re the victim of a break-in or a weather event that causes significant damage.
A renters insurance policy in Florida can pay for the repair or replacement cost of your personal items and liability claims. It also covers temporary living expenses if your property becomes uninhabitable because of a covered loss. While not required by state law, many landlords will require that you carry a policy with a minimum amount of coverage.
