The Best Cheap Renters Insurance in Florida (2022)

House Method found that the best renters insurance companies in Florida balance strong financial strength ratings, quick claim turnaround times, responsive customer services, and low-cost coverage. Based on these benchmarks, we’ve identified the following four carriers as our top picks in the Sunshine State. Still, the ideal policy for you will depend on your individual needs as a tenant in Florida.

Any providers below can help you get the renter coverage you need. Contact them for a free quote.

The Best Affordable Renters Insurance Companies in Florida

1. Lemonade — Quickest Claims Process
2. Geico — Most Accessible Customer Service Representatives
3. State Farm — Most Comprehensive Personal Property Coverage
4. Allstate — Best for Additional Coverage

Lemonade (Quickest Claims Process)

Why We Chose Lemonade

Lemonade is the superior renter’s insurance option for Florida tenants in search of quick coverage. We scored Lemonade with 4.9 out of 5 stars, primarily for its prompt claim turnaround times, quality coverage options, and easy-to-navigate online experience. As the first fully-digital renter’s insurance provider on the market, Lemonade’s AI-powered business model has allowed it to shave down its claims payout time to as little as three seconds.

Cost

Though Lemonade’s most basic renters insurance starts at just $5 per month, your personal premium will depend on your zip code, the level of coverage you select, and whether you opt for any plan add-ons.

We generated a sample renters insurance quote for an alias tenant in  Jacksonville, Florida, within the 3227 zip code. Our mock profile selected a single residency in a local apartment complex with no pet. Based on these specifications, Lemonade quoted our Florida tenant with basic coverage for $16.34 per month or $196 per year.

For a free quote from Lemonade, fill out this online form.

Geico (Best Customer Service)

Why We Chose Geico

Unlike Lemonade, Florida renters who prefer live interaction with a real insurance agent will find responsive, solutions-oriented assistance through Geico. House Method scored Geico with 4.8 out of 5 stars for its broad access to customer care via live chat, phone, email, or the mobile app. One thing worth noting is that Geico’s renter’s insurance policies are administered by third-party agencies, not by Geico itself.

Tenants who enroll for coverage through Geico also aren’t allowed to choose the company they’re matched with. Geico policyholders are responsible for filing claims with their third-party provider, which can make getting in touch with the right customer service department a bit more complicated.

Cost

Geico’s website states that its standard renter’s insurance plans start at $12 a month. House Method’s research team generated a sample estimate for a tenant residing in a one-bedroom apartment in Miami, Florida (33196). We were quoted $28.39 per month or $170.29 per year for basic renter’s insurance coverage.

For a free quote from Geico, fill out this online form.

State Farm (Best Personal Property Coverage)

Why We Chose State Farm

State Farm is our top recommendation for Florida tenants looking for robust personal property coverage. We scored State Farm with 4.7 out of 5 stars, earned specifically for having no annual coverage limits on personal property or loss of use claims and for its generous spread of policy add-ons.  When signing up, renters can tack on a plan endorsement for replacement cost coverage, which covers the entire cost to replace personal belongings lost to an eligible scenario.

Cost

State Farm advertises renters insurance policies starting as low as $7 per month. We generated a sample estimate for a renters policy at a one-bedroom apartment in Tampa, Florida (33610) and were quoted $13.07 per month or $156.84 per year.

For a free quote from State Farm, fill out this online form.

Allstate (Best For Combined Savings)

Why We Chose Allstate

As a household name in the insurance sector, Allstate’s renter’s insurance holds up against its strong industry reputation. House Method rated Allstate with 4.6 out of 5 stars for its overall versatile policy options and a generous spread of optional coverage add-ons. Beyond standard inclusions, policyholders can add several extra endorsements to their plan, including coverage for:

• Scheduled personal property
• Uninsured & underinsured motorists
• Increased coverage for business property
• Identity theft protection
• Extended coverage for jewelry, computers, fur, watches, etc.

Cost

A standard renters insurance policy through Allstate starts at just $4 per month. For a more accurate picture of what the average renter in Florida might pay, we requested a sample quote for a single tenant occupying a one-bedroom apartment in Orlando, Florida (32789). Allstate estimated a premium of $12 per month or $143 per year for the Basic policy. Allstate’s Standard plan level would cost $14 per month or $26 for its Enhanced variation.

Compare the Best Renters Insurance Companies in Florida

Company	Lemonade	Geico	State Farm	Allstate
Compare Quotes in FL	$16.34 per month	$28.39 per month	$13.07 per month	$12 per month
Our Take	Quickest Claims Process	Most Accessible Customer Service Representatives	Most Comprehensive Personal Property Coverage	Best for Additional Coverage
Average Monthly Premium	Starts at $5 per month	Starts at $12 per month	Starts at $7 per month	Starts at $4 per month
House Method Star Rating	4.9	4.8	4.7	4.6

How Much is Renters Insurance in Florida?

The average cost of renter’s insurance in Florida is about $25 per month or $295 per year. That’s approximately $7 more expensive per month than the U.S. national average renter insurance cost as of 2021.

Florida is among the most expensive states to secure renter’s insurance in, largely because of its higher risk of large-scale disasters like hurricanes and tropical storms. Aside from location, your premium is also subject to change based on the age of the building you’re occupying, crime rates in your area, amount of coverage, the deductible level you select, and more.

Who Offers the Cheapest Renters Insurance in Florida?

Based on the quotes we generated across major cities in Florida, we found All State to offer the cheapest renters coverage at just $12 per month. That’s a little over 50% cheaper than the Florida state average. Still, the cheapest renters insurance coverage option for you will depend on how your premium is shaped based on the following criteria:

• The likelihood of theft (relative to local crime rate)  and natural disasters in your area
• The age of the building or unit you’re occupying
• Your credit score and claims history
• The level of coverage you need
• The amount of your deductible
• The type of coverage you select — actual cash value vs. replacement cost value (ACV is oftentimes more expensive)

What Does Florida Renters Insurance Cover?

Renters insurance is a form of property insurance designed to protect tenants’ personal belongings should they become damaged or stolen while residing within a rental property. It also offers liability coverage against any legal or medical expenses incurred if someone becomes injured while visiting the property. Most renters insurance policies typically cover additional living expenses if the property being leased becomes uninhabitable due to a covered scenario.

In terms of specific standard renters insurance inclusions, most basic policies will cover:

• Personal belongings: Clothes, furniture, and other household items lost to covered events/perils
• Loss of use: Additional, unexpected living expenses that arise as a result of uninhabitable conditions due to a covered loss/peril
• Personal liability: Financial protection against legal and medical payments following the injury of another person while on the rental property

Perils generally covered by renters insurance include:

• Wind, lightning, and hail
• Fire and smoke
• Snow and ice collapse
• Explosions
• Theft and vandalism
• Mold, mildew, and related water damage

Considerations for Renters Insurance in Florida

Contact the Florida Department of Financial Services

We always recommend only purchasing renter’s insurance through reputable carriers with a strong financial rating from A.M. Best and established customer bases. If you feel you’ve been impacted by an insurance fraud scheme or scam, you can file a claim with the Florida Department of Financial Services.

Before enrolling for coverage through any provider, you can verify a company’s license to operate in the state of Florida by filling out this online form.

Final Verdict: Which Florida Renters Insurance Company is the Best?

While all carriers in this round-up have been vetted as top-tier options for Florida tenants, based on our competitive analysis, we consider Lemonade as the best overall renters insurance company in Florida. On top of a paperless experience, Lemonade boasts the fastest payout times in the industry (in as little as three seconds), plus a variety of new joiner discounts and a 90-second sign-up process.

We still recommend generating custom quotes with two to three providers so that you have a solid understanding of how renters’ insurance rates may vary depending on your personal specifications.

Contact Lemonade or any of the providers below to score a free quote:

Other Renters Insurance Resources