How Much is Renters Insurance in Florida?

Are you wondering how much is renters insurance in Florida? You are perhaps also uncertain if it is legally binding for you to have renters coverage.

Let us answer the second question first. It is not legally mandatory to have Florida renters insurance, unless there is a term in the lease agreement wherein the landlord specifically mentions it as a requisite.

According to, if the lease agreement clearly states renters insurance in Fl as a requirement and hence an obligation of the tenant, then it is legally binding and therefore not having it will be a breach or a violation of the contract.

How much is FL Renters Insurance ?

The simple answer is around twelve dollars per month for property coverage of thirty thousand dollars and liability coverage of a hundred thousand dollars. This means you will be paying an annual premium of nearly a hundred and fifty dollars for the said coverage. Property coverage in this case is basically the contents in the home and not the building.

You may be living in a house or in an apartment building. Only the contents of the house or your assets get covered and not the whole structure of the building. Liability coverage pertains to any financial obligation you may have, such as guests suffering injuries or having some of their valuables stolen.

The hundred and fifty dollars premium provides basic coverage. It will not cover all perils. Florida has to endure hurricanes, heavy rain, hail and strong winds. There is also the possibility of surge in electricity, water damage, fire and smoke, vandalism and other weather related unfortunate incidents. A policy providing comprehensive coverage will cost substantially more than a hundred and fifty dollars a year.

Coverage for property damage worth thirty thousand dollars may not be sufficient as most tenants will have electronics, electrical appliances, computers, furniture, jewelry and clothing, all accounting for significantly more. It is also necessary to consider the possibility of tenants requiring temporary accommodation if the rented property is not livable for some time. Also, says there can be medical expenses too that a tenant will have to bear.

Tenants should look for holistic but relevant coverage for any renters coverage in Florida to suffice. The answer to how much is renters insurance in Florida will vary across the state. Those renting along the coast will have to pay more than those inland as the weather extremes are more common.