Who Has the Best Cheap Renters Insurance in Florida in 2024?
State Farm has the best cheap Florida renters insurance, at $22 per month on average.
Compare cheap renters insurance in Florida
Best Cheap Renters Insurance in Florida
To help you find the best, most affordable rental insurance in Florida, ValuePenguin editors considered rates, coverage options and customer service. To compare rates, our editors gathered over 200 quotes from some of the state's largest renters insurance companies.
Cheapest renters insurance in Florida
Lemonade and State Farm have the most affordable renters insurance in Florida.
Both companies cost around $22 per month, which is $4 per month less than the state average.
Compare cheap renters insurance in Florida
Renters insurance in Florida costs $5 more per month than the national average, which is $23 per month. That makes Florida the tenth-most expensive state in the country for renters insurance.
Cheapest Florida renters insurance
Company | Monthly cost | ||
|---|---|---|---|
| Lemonade | $22 | |
| State Farm | $22 | |
| Assurant | $23 | |
| Allstate | $34 | |
| Progressive | $35 | |
Florida renters may have a hard time comparing quotes online.
Many companies require Floridians to contact an agent to get a quote. This is especially true if you live near the coast or on a lake or river.
However, it's important to contact several renters insurance companies near you to compare prices and make sure you get the best deal.
Best FL renters insurance overall: State Farm
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Editor's rating
- Cost: $22/mo
State Farm's cheap rates and reliable customer service make it the best choice for more Florida renters.
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Very cheap rates
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Dependable customer service
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Great for bundling
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May need to call an agent to buy a policy
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Few coverage add-ons
State Farm has some of the cheapest renters insurance quotes in Florida, at $22 per month. That's $4 per month less than the state average of $26 per month.
State Farm is also a great choice if you want to bundle your renters and auto insurance policies with one company. It has very affordable car insurance rates in Florida, and you'll get a discount for buying two policies from State Farm.
Florida renters typically have a good experience with State Farm.
The company gets one-third as many complaints as other similar-sized companies, according to the NAIC. In addition, State Farm earned a high score on J.D. Power's customer satisfaction survey. That means you can count on State Farm to take good care of you after an emergency.
Florida renters living near the coast may need to call an agent to compare quotes from State Farm. In addition, State Farm may not cover older homes or those very close to the coast.
Best renters insurance in FL for online shopping: Lemonade
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Editor's rating
- Cost: $22/mo
Lemonade's website makes it easy to get a quote and manage your policy online.
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Easy online quotes
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Cheap rates
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Highly-rated app
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Mixed customer service ratings
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Can't bundle with car insurance
Lemonade has the cheapest renters insurance rates in Florida at $22 per month. That's $4 less than the Florida average, and the same price as State Farm.
Lemonade's quote tool is very intuitive, making it easy to compare quotes. Once you buy a policy, you can use the highly-rated Lemonade app to manage your policy, pay your bill or file a claim.
However, Lemonade has mixed customer service reviews.
It earned a high score on J.D. Power's customer satisfaction survey. But Lemonade gets three and a half times more complaints than an average company its size, according to the NAIC. Lemonade may resolve simple property damage claims quickly, but it could take longer than usual to pay more complicated claims.
Best for renters living on the Florida coast: Allstate
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Editor's rating
- Cost: $34/mo
Allstate typically offers coverage to coastal renters, along with the option to add flood insurance.
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Offers flood insurance
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Discount for retirees
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Helpful local agents
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Not the cheapest option
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Mixed customer service reviews
Renters living along the Florida coast may have a harder time finding companies willing to offer them coverage. For example, State Farm doesn't always offer renters insurance within coastal communities.
However, renters living near the Florida coast can usually get coverage from Allstate.
In addition, Allstate offers flood insurance to Florida renters. This is the only way to protect your belongings against damage caused by flood waters.
At $34 per month, Allstate isn't the cheapest option for Florida renters. However, it offers a few discounts that can help you lower your insurance bill.
Seniors can save up to 25% with Allstate's 55 and older discount. You can also save by bundling your auto and renters insurance or signing up for automatic payments. If your home has wind mitigation features, like storm shutters, you may be able to get an additional discount.
Florida renters have very few complaints about Allstate. The company gets 84% fewer complaints than an average company its size, according to the NAIC. But nationally, Allstate earned a below-average score on J.D. Power's customer satisfaction survey. That makes it difficult to predict what your claims experience will be like after an emergency.
Florida renters insurance cost by city
West Palm Beach, a city on the Atlantic coast, has the cheapest renters insurance among the state's major cities.
The average cost of renters insurance in West Palm Beach is $19 per month. That's $7 per month less than the Florida average.
Miami, the second-largest city in Florida, has the highest renters insurance rates among the state's big cities. A policy in Miami costs an average of $38 per month. This could be because of Miami's exposure to coastal storms and its high property crime rates.
Average renters insurance in Florida by city
City | Monthly rate | % from average |
|---|---|---|
| Brandon | $24 | -8% |
| Cape Coral | $23 | -13% |
| Clearwater | $25 | -2% |
| Coral Springs | $28 | 9% |
| Fort Lauderdale | $35 | 33% |
How to find the best renters insurance in Florida
The best renters insurance companies offer the coverage you need and great customer service at an affordable price.
To find the best company for you, you should start by figuring out your coverage needs. Then, you should compare rates from multiple companies and check out customer service reviews.
Figure out how much coverage you need. Most basic renters insurance policies include similar coverage, like protection for your belongings and personal liability coverage. However, Florida renters may want to add extra protection to their policies.
For example, renters insurance doesn't typically cover damage caused by flood waters. If you're concerned about flooding, consider a company that offers flood insurance, like Allstate or Assurant.
Having both policies with one company can make your life much easier if you have to file a claim after a hurricane. That's because you'll have to file claims with two separate companies if your stuff is damaged by both flooding and wind, lightning or hail.
Shop around for quotes from multiple companies. There's a difference of $13 per month between the most and least expensive renters insurance companies in Florida. So you could save around $156 per year by shopping around for the cheapest quote.
Insurance companies all calculate renters insurance rates differently based on factors like your age, location and insurance history. For that reason, the cheapest company for your friends, family or neighbors might not be the best choice for you.
Compare insurance company ratings. It's important to choose an insurance company you can count on to get your life back to normal quickly after a disaster.
Companies with great service do this by having a stress-free claims process and paying you quickly. On the other hand, poor service can lead to a lot of back and forth before the company pays your claim. And you may end up paying more to replace your belongings.
You can start with ValuePenguin editor's ratings, which consider multiple customer service ratings along with coverage availability and cost. If you'd like to do more research, consider J.D. Power's renters insurance customer satisfaction survey and the National Association of Insurance Commissioners complaint index.
What type of renters insurance do I need in Florida?
It's very important for Florida renters to have protection against hurricanes and tropical storms.
That's because these storms regularly damage Florida homes, even if you're not near the coast.
Does Florida renters insurance cover hurricanes?
Renters insurance covers some, but not all, damage caused by hurricanes.
Most policies protect against wind, hail, tornado and lightning damage. However, renters insurance doesn't protect against flood damage.
It's important to remember that you'll have to pay a separate hurricane deductible if a named storm damages your stuff.
This deductible is typically higher than your normal renters insurance deductible.
Does Florida renters insurance cover wind damage?
Renters insurance typically covers damage caused by wind.
However, you may have a separate wind deductible if you live in a high-risk area. That means you could have to pay two deductibles if a major storm causes both wind damage and another type of damage, like lightning.
If you're renting a home very close to the coast or one with an old roof, your insurance company may not cover wind damage at all. In that case, you should buy a separate wind insurance policy to make sure you have enough protection.
Does renters insurance in FL cover flood damage?
Renters insurance doesn't usually cover damage caused by flood waters.
You'll need to buy a separate flood insurance policy. Some renters insurance companies, including Allstate and Assurant, may offer flood insurance to Florida renters.
Having both your renters and flood insurance policies with the same company can be helpful if a major storm damages your stuff. That's because you'll have one point of contact for all of the damage. Otherwise, you may have to file a claim with your flood insurance company and another with your renters insurance company.
Frequently asked questions
How much is renters insurance in Florida?
The average cost of renters insurance in Florida is $26 per month. That's 20% more expensive than the national average, which is $23 per month.
Who has the cheapest renters insurance in Florida?
State Farm and Lemonade have the cheapest renters insurance quote in Florida. At $22 per month, both companies are $4 per month cheaper than the Florida average.
How much is renters insurance in Miami?
Renters insurance in Miami costs $38 per month, on average. That's $12 per month more expensive than the statewide average. In comparison, renters insurance in Orlando costs $20 per month, which is $6 per month cheaper than the Florida average.
Can a landlord force you to get renters insurance in Florida?
Yes, your landlord or property management company may require you to buy a policy as a part of your lease agreement.
What does renters insurance cover in Florida?
Florida renters insurance includes basic coverage, like personal property damage, personal liability protection, guest medical payments and additional living expenses. Some companies offer extra coverage for a fee, like flood insurance, water backup coverage or identity theft coverage.
Is Lemonade insurance in Florida?
Yes, Lemonade sells renters insurance in Florida. A policy costs $22 per month, which is 14% cheaper than the state average.
Methodology
To compare renters insurance rates in Florida, ValuePenguin collected quotes from addresses across the 26 largest cities in Florida. Quotes are for a 30-year-old unmarried woman who lives alone and has no prior renters insurance claims.
Rates are for the following coverage limits:
- Personal property: $30,000
- Personal liability: $100,000
- Medical payments: $1,000
- Deductible: $500
These rates should be used for comparative purposes only. Your quotes may differ.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.