Best Renters Insurance in Florida

Homeowners have insurance to cover losses related to their house or condo, but what happens if you’re renting a property in Florida that experiences some sort of loss? Renters insurance works to cover your personal property from losses such as theft, fire and other perils. To help renters in the Sunshine State find the best renters insurance for their needs, Bankrate compared dozens of insurance carriers and determined the best Florida renters insurance companies based on coverage, customer satisfaction and financial strength.

The best renters insurance companies in Florida

Given the high number of fraudulent insurance claims that originate in Florida, as well as the risk associated with insuring homes there, the state is experiencing a homeowners insurance crisis. Many companies are no longer offering renters insurance policies in the Sunshine State, but residents still have a few options.

To help you find the best Florida renters insurance for your needs, consider the attributes of the companies included in the list below. Bankrate has analyzed dozens of Florida renters insurance companies, comparing third-party agency rankings for customer satisfaction from J.D. Power and financial strength from AM Best, as well as coverage options, discount opportunities and average annual rates, which may help you make an informed decision when purchasing renters insurance here.

USAA

Best for customer service

USAA is a consistent high scorer in J.D. Power’s customer satisfaction studies, despite the fact that it doesn’t have physical agency locations for in-person service. Although its eligibility requirements preclude it from ranking, USAA earned the highest score in J.D. Power’s 2024 renters insurance study. Importantly, USAA is only available to the military and their qualifying family members, so it may not be accessible to everyone. Its base policies are robust — flood, earthquake and identity theft coverage are automatically included. Plus, your personal belongings are insured at their replacement cost value at no extra cost to you.

Pros

• Advertises rates as low as 33 cents per day
• Coverage for military gear and uniforms
• Electronics covered for up to $10,000 with an endorsement

Cons

• Only available to active-duty military, veterans and their qualifying family members
• No brick-and-mortar agency locations

Learn more: USAA Insurance review 

Lemonade

Best for digital insurance experience

Renters may be able to purchase Lemonade renters insurance for as little as $5 per month, which is comparatively cheap for a non-bundled policy. If you aren’t also aiming to insure your vehicle with the company, Lemonade could have the cheapest Florida renters insurance premiums of the carriers listed. In addition, Lemonade is completely online-based, offering an end-to-end digital experience for those who don’t require an agent to help with purchasing and managing a policy. According to the company, renters could get coverage in as little as 90 seconds, which could be appealing if you’re in a time crunch.

Pros

• Get coverage in under 2 minutes
• Advertises cheap rates
• Fully digital shopping experience

Cons

• No agents available for policy questions or support
• Dog breed restrictions may apply

Learn more: Lemonade Insurance review

State Farm

Best for optional coverage

State Farm stands out among Florida insurers for optional coverage. Florida renters can personalize their insurance coverage with options like identity restoration, earthquake coverage, incidental business liability and additional business property. Business owners who rent in Florida may find State Farm meets their needs the most for both personal and business coverage all in one place. Another perk from State Farm is that policies typically have no breed restrictions on dogs.

Pros

• Numerous coverage personalization options
• No breed restrictions
• “Superior” financial strength rating from AM Best

Cons

• May be pricier than other carriers
• Limited discounts

Learn more: State Farm Insurance review

Allstate

Best for retired renters

Allstate offers standard coverage on its renters insurance policies, with the option to add replacement cost for the contents portion of the policy for an additional fee. Although Allstate only has a few renters discounts (for buying multiple policies and setting up automatic payments), retirees over 55 may have access to an additional discount — saving up to 25 percent on premiums by insuring their belongings with Allstate.

Pros

• Optional replacement cost on contents
• Retirees could save up to 25% on premiums
• “Superior” AM Best financial strength rating

Cons

• Below-average J.D. Power score
• Few discounts

Learn more: Allstate Insurance review

Progressive 

Best for bundling 

Progressive may be a good option for Florida renters who want to reap the benefits of a bundling discount. The company advertises an average of $733 in savings for policyholders who switch to Progressive and bundle their auto and renters insurance. It may also appeal to renters who prefer to manage their policies online; Progressive ranked above average in the J.D. Power 2025 U.S. Insurance Digital Experience Study in both the service and shopping categories. However, its policies are fairly simple, and it doesn’t offer as many optional add-ons as some other national insurance companies.

Pros

• Highly rated digital tools
• Generous bundling discount
• Advertises low rates

Cons

• Low score in J.D. Power study of renters insurance
• Fewer endorsements than some competitors

Learn more: Progressive Insurance review 

Average cost of renters insurance in Florida

Each provider weighs rating factors differently when determining premiums, but on average, the cost of Florida renters insurance is $175 per year, or just about $15 per month, according to Insurance Information Institute (Triple-I). This is only $5 more than the national average cost of renters insurance, which is $170 per year based on the most recent data available from Triple-I.

Florida’s coastal location likely plays a large part in its higher-than-average renters insurance costs. Compared to Central states like Iowa or Illinois, hurricane damage is not only common here but can also be devastating. Hurricane Michael was the strongest hurricane to make landfall within the state in the 21st century. As a Category 5 hurricane, it totaled about $25 billion in damage and $6.6 billion in insured damage. While preventing destruction from weather-related occurrences is largely out of your control, purchasing renters insurance can help mitigate the financial burden you might face if a covered event destroys valuable belongings.

What does renters insurance cover in Florida?

Renters insurance policies are made up of a few core coverage types: 

• Personal property: Financial protection for your personal belongings in the event a covered incident damages them. Expensive items like art and jewelry may be subject to certain sub-limits. Renters insurance usually covers your belongings anywhere in the world, such as those in a storage unit or items when you’re on vacation. 
• Personal liability: If someone is injured in your rented space and you are found legally liable for their injuries, this part of your renters policy can help with the associated legal and medical expenses. 
• Loss of use: Also called additional living expenses, this can help cover lodging and other related expenses if you’re unable to live in your rented space due to a covered loss. 
• Medical payments: If a guest is injured in your rented space, this can help with their medical expenses, even if you’re not at fault. 

As a renter, you are not responsible for damage to your apartment’s physical structure. For instance, if a hurricane rolls through and cracks your windows, your building’s insurance policy would be on the hook for fixing them — not you. 

It’s also worth noting that most renters insurance policies only cover the depreciated value of items (referred to as actual cash value). Alternatively, you can seek out a policy that covers your items at replacement cost value if you want more financial protection. Replacement cost coverage doesn’t factor depreciation into payouts after covered losses.

What Floridians have to say about renters insurance

Many tenants start out looking for renters insurance in Florida because their landlord requires it as part of the rental agreement. Third-party agencies and industry experts are a great place to start when researching companies for the best renters insurance in FL, but seeing what real customers say can also help you determine which insurer is right for you.

Here is what a few Floridians say about renters insurance in the Sunshine State:

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

Frequently asked questions

• What are the common causes of renters insurance losses in Florida?
  

  There are two common causes of renters insurance losses in Florida. The first is theft or property crime. This is most prevalent in southeastern parts of the state; the northeastern section of the state sees far fewer, on average. Hurricanes are the other major cause of losses in Florida. The state is the worst state for hurricane landfall and has experienced more hurricanes than any other state in recorded history.

• Does renters insurance in Florida cover hurricane damage?
  

  Renters insurance in Florida can cover hurricane damage, depending on what damage your property sustains. Flood damage is almost always excluded from home and renters insurance. Since acquiring flood insurance from a private insurer can be challenging in Florida, renters can get a flood policy through the National Flood Insurance Program (NFIP).

  Damage from windstorms is also typically covered by a renters insurance policy. Florida law requires all insurance companies to offer windstorm insurance with various deductible options. Look closely at your renters insurance contract to see if you have a flat $500 or a percentage-based deductible. This can make a big difference when it comes time to submit a claim.

• Why do I need to get renters insurance in Florida?
  

  While renters insurance is not state-mandated, many landlords require renters to have insurance as part of the rental agreement. If it is required, there will likely be provisions in the lease indicating the conditions. However, even if your landlord doesn’t require renters insurance, having a policy can help you financially protect your personal property and help safeguard you from liability issues. Keep in mind that the insurance your landlord carries does not cover your personal property or personal liability concerns within the rental.

  If a guest gets hurt inside your apartment or your dog bites someone, the liability coverage on your personal renters insurance policy can help. Because renters in apartment buildings live so close to other people, damage from fire and theft of property are not uncommon and renters insurance provides coverage for that, too.

• How do I purchase renters insurance in Florida?
  

  You can purchase renters insurance in Florida online, over the phone or in person, depending on the insurance company. Florida renters should understand their rights under Florida landlord/tenant law before signing a contract for a rental agreement. Landlords in Florida can require you to purchase renters insurance, which will have minimum coverage requirements you should adhere to as a condition of the rental contract.

• What common losses may Florida renters face?
  

  While the state may be more prone to experiencing severe weather, renters insurance in Florida doesn’t only kick in after a disaster. Rather, your renters insurance policy can reimburse you for many common covered losses, called named perils. Common covered losses in a Florida renters insurance policy include fire, windstorm damage, hail damage, vandalism or theft and falling objects. While Floridians generally experience a lot of water damage from hurricanes and other major storms, water damage from flooding will likely require a separate policy.