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Best renters insurance companies in Florida

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As a renter, you may wonder how you can protect your personal property from disasters and theft. As a Florida resident, you may be particularly worried about your possessions being destroyed as a result of severe weather like hurricanes. To help renters protect their wallets, we’ve rounded up eight companies that can protect residents of the Sunshine State, and we’ve included potential discounts and additional coverage options that may be available from each provider depending on your location.

Renters insurance providers in Florida often require potential customers to speak directly to an agent before providing a quote. If you want an automated process, you can enter your zip code into this easy online quote tool to see what’s available in your area.

Top 8 renters insurance companies in Florida

We rated multiple renters insurance companies on a number of factors (see methodology below) and determined the following eight providers are the best in Florida.

1. Allstate: Best overall

2. Progressive: Best bundling discounts

3. State Farm: Best customer service

4. Geico: Best smartphone app

5. AAA: Best membership perks

6. USAA: Best for U.S. military families

7. Security First: Best hassle-free quote

8. Assurant: Best for new renters

Compare renters insurance providers in Florida

This table shows how the top renters insurance companies compare with one another on some of our key rating factors.

Company

Our score

Years in business

Separate hurricane deductible

Number of discount options

Allstate

98.5

89

Yes

5

Progressive

98

84

Yes

5

State Farm

95.1

98

No

2

Geico

94.5

85

Yes

2

AAA

93.1

119

Yes

3

USAA

92.5

98

No

3

Security First

86.1

15

Yes

2

Assurant

84.1

17

Yes

1. Allstate: best overall

Allstate finished with a near-perfect score in our performance review of the top insurers for renters. With its outstanding coverage, endorsements (also known as add-ons), discount options and customer service, it ranks as the best not only nationally, but for Florida residents specifically. However, its automated online quote tool doesn’t serve Florida, so you need to contact an agent.

Allstate renters insurance advantages and drawbacks

Pros

Cons

Educational materials on the website to help you through the process

Quotes in Florida require contact with an agent

One of the highest numbers of discount options

Separate deductible for hurricanes

24/7 customer service and website chat

Discounts: Bundling with auto insurance, automatic payments, safety devices like fire alarms, claim-free history

Additional coverage options: Business property coverage, identity theft restoration, increased limits for scheduled personal property items, extended coverage for jewelry, furs, and watches

2. Progressive: best bundling discounts

Bundling your renters and auto insurance policies with Progressive can pay off by decreasing your premiums and allowing you to share a deductible between the two separate policies. This same-deductible benefit can help you save on how much you pay during a covered event on either. If you choose not to bundle, you can still take advantage of additional savings such as e-billing and pay-in-advance discounts.

Progressive renters insurance advantages and drawbacks

Pros

Cons

One of the best multi-policy bundling discounts on the market

Down payment required with first month’s premium

Unique discount for getting a quote three or more days in advance of starting a policy

Not as many endorsement options as some other companies

Single-deductible benefit for multi-policy customers

Social Security number and previous address required for a quote

Discounts: Bundling with auto insurance, purchasing three days in advance of policy’s start date, gated community

Additional coverage options: Water backup coverage, personal injury legal fees for slander lawsuits, extended coverage for computers

3. State Farm: best customer service

We included State Farm for its local customer service. In Florida, State Farm connects each customer to a local agent to help them through the quote process, answer questions, find the best coverage, sign up, and manage the policy. The agent we spoke to was patient and helpful, informing us on typical coverage for a Florida apartment, average prices, and setting up a quote. This insurer also stands out for including hurricane damage under its standard deductible, while most other companies make you select a separate hurricane deductible.

State Farm renters insurance advantages and drawbacks

Pros

Cons

Florida premiums average $10–$25*

Additional coverages can substantially raise the premium price

Comprehensive pet coverage add-on

Cheapest prices may require high deductible choices and lower coverage caps

Hurricane damage included in standard deductible for all perils

*Average premium cost numbers provided by a local State Farm agent in Florida

Discounts: Bundling with auto insurance, home alert features like fire alarms or security systems

Additional coverage options: Identity theft protection, high-value personal property, business property

4. Geico: best smartphone app

If technology and connectivity are important to you, Geico might have the renters insurance policy for you. You can easily access and manage your policy with its user-friendly app, as well as connect to a local agent through customer support for any questions about your insurance or to begin the claim-filing process after an event. It’s also a smart choice for renters looking to bundle with their car insurance policy.

Renters can get a customized online quote from Geico by visiting the company’s website.

Geico renters insurance advantages and drawbacks

Pros

Cons

$100 deductible option at a reasonable premium rate

Uses underwriting companies

Smartphone app that connects users to local agents for claims

Not many discounts other than multi-policy bundling

Substantial bundling discount for auto insurance policyholders

Discounts: Bundling with auto insurance, safety features like fire alarms

Additional coverage options: Extended coverage for scheduled personal property items, business property, replacement cash value (RCV) coverage for personal property

5. AAA: best membership perks

AAA is known for its auto club that connects its members to a range of services including roadside assistance, auto insurance, home insurance and renters insurance, as well as discounts on restaurants and entertainment. AAA members can also take advantage of cheap renters insurance prices, though you don’t have to be a member to sign up for a policy. Your local AAA club website can connect you with an agent to get a quote.

If you’re looking for an easy way to get a quote online from providers in your zip code, you can also visit this website and fill out the quick form to get started on a free quote.

AAA renters insurance advantages and drawbacks

Pros

Cons

Membership discounts

Can’t get an automated quote online

Easy to speak to a local agent for assistance

General customer service only available during business hours

Doesn’t require membership to qualify for a policy

Discounts: Bundling with auto insurance, home security devices, fire safety features, AAA membership discount

Additional coverage options: Refrigerated personal property, identity theft, water backup, extended coverage for scheduled personal property items

6. USAA: best for U.S. military families

According to the Department of Defense, Florida is home to more than 70,000* active-duty military service members, making USAA an ideal insurance provider for many renters. You’re eligible for a membership with USAA if you qualify as retired or active-duty military or are a family member of someone that qualifies. Renters insurance with USAA comes at affordable prices and includes flood insurance with every standard policy. This is a helpful benefit that most other companies either don’t offer or offer only as a costly endorsement.

* According to December 2020 data pulled from the DOD’s Defense Manpower Data Center

USAA renters insurance advantages and drawbacks

Pros

Cons

Lower prices for qualifying USAA members, including additional benefits

Must be an eligible service member or their family to qualify

Multi-policy bundling discounts

Customer service can be difficult to reach

Included flood insurance with each standard policy

Less customization when signing up for a policy

Discounts: Bundling with auto insurance, discount for active-duty military members, home security systems, claims free history

Additional coverage options: Replacement cost coverage for personal property, business property

7. Security First: best hassle-free quote

Security First is a younger company that serves only the state of Florida. By not extending into other states, the company makes a commitment to focus on the security and protection of Floridians, particularly from local concerns like tropical storms and hurricanes. Security First makes it easy to quickly obtain pricing details based on your home and personal information directly from its website. This is a refreshing perk, compared with other companies in Florida that require that you speak with an agent.

Security First renters insurance advantages and drawbacks

Pros

Cons

Easy online quote tool without needing to call an agent

Customer service is geared toward homeowners, rather than renters

Helpful storm preparation resources on the website

Recent entrant in the industry 

Florida-only company that is dedicated to insuring renters in the state

Discounts: Gated community, shape of roof, fire safety features like indoor sprinkler systems, wind resistant features, senior discount for anyone over age 55

Additional coverage options: Identity theft protection, water backup, extended coverage for scheduled personal property items, additional insured for roommates

8. Assurant: best for new renters

Assurant’s helpful quote tool explains to new renters the coverage amounts and types they may need, what benefits each selection offers and how and when to file a claim. The tool is also automated, so you can begin the process of getting insured without the hassle of speaking to a representative. 

Assurant renters insurance advantages and drawbacks

Pros

Cons

Can get an automated quote online

Offers fewer additional coverage options and discounts than competitors

Helpful sign-up process that guides you through decisions

Recent entrant into the industry 

Has a fraud expense protection add-on

$1,000 standard hurricane deductible isn’t customizable 

Discounts: Paying annual cost all at once, claims history

Additional coverage options: Water sewer backup, identity fraud protection

What renters insurance covers

Understanding what renters insurance is and what it covers gives you the best vision of whether or not it’s something you need. The right policy may be a worthwhile investment in your peace of mind, providing financial protections if unexpected disaster strikes. A standard renters insurance policy covers:

  • Someone injured in your home

  • Electrical or short-circuit damage

  • Lightning

  • Falling object

  • Water-leak damage

  • Explosions

  • Theft and robbery

  • Vandalism

  • Hail, snow, or sleet

  • Wind

  • Fire and smoke

  • Hurricanes

Additionally, there are different types of claims that are included in policies that occur from these events: 

  • Loss of use: Also known as additional living expense (ALE) coverage, this provision applies to expenses incurred if you are displaced from your home. For example, if you are forced to leave your apartment after a fire, loss of use coverage will pay for hotel stays, additional laundry expenses and even meals.

  • Personal property: A personal property claim covers all of your belongings that are stolen, lost or damaged inside your home during covered events. The provider will pay up to the maximum amount in your policy for your items’ actual cash value (ACV) or replacement cash value (RCV), depending on which option you select during sign-up.

  • Liability: This coverage type includes medical payments or legal fees if you are deemed responsible for an injury to someone in your home. For example, if someone is hospitalized after your dog bites them, your policy’s liability coverage will pay their medical expenses, as well as legal fees if they decide to sue you.

  • Medical payments to others: This is similar to liability, but it’s intended to cover no-fault injuries to others in your home. If someone is hurt and you are not deemed responsible, your policy will pay for medical expenses up to your coverage limit.

Renters insurance hurricane coverage in Florida

You should be covered under a policy from any of these providers if your property is damaged due to a hurricane. If your policy includes a separate hurricane deductible, you’ll have to pay up to that amount when filing a claim, even if your standard deductible has already been reached. Notably, State Farm and USAA don’t have separate hurricane deductibles. You may also be eligible for discounts if your building has wind mitigation features.

The bottom line on renters insurance providers in Florida

Purchasing the right renters insurance policy to protect yourself is a smart decision, even if your landlord doesn’t require it. All of the best renters insurance companies in Florida provide financial protection from the typical slate of perils, including fire and theft, as well as from storms and hurricanes. 

Since many of these companies offer quotes only after speaking directly to a representative and often require personal details before providing estimates, we recommend using this online tool to get automated quotes from providers near you. We always recommend comparing prices and offerings from multiple companies based on your property and needs.

Frequently asked questions about renters insurance

Is renters insurance required in Florida?

No, renters insurance is not required by law in any state. However, many landlords do require it upon lease-signing to protect themselves from liability if an accident occurs in your apartment or unit. 

How do I choose a renters insurance company?

Selecting a renters insurance policy starts with taking inventory of your personal belongings and their value. Once you know how much coverage you need, you should get quotes from a few different companies, compare prices and make sure they offer the coverage you need.

How do I get a renters insurance quote in Florida?

We found that getting quotes in Florida is a bit more cumbersome than in other states, because you often have to reach out directly to an agent to discuss your coverage needs and personal details. In some cases, you’re even required to provide your Social Security number and previous address. However, you can find providers in your area and get a free quote here by entering your zip code.

Does renters insurance cover hurricanes in Florida?

The companies in this roundup cover hurricanes but typically under a separate deductible. Your policy will outline the cost of your hurricane deductible in addition to your standard deductible. A few companies, such as State Farm, include hurricane damage under the standard deductible.

Renters insurance rating methodology

Through in-depth research of the industry, we determined the following factors and weights to rate each company by:

  • Overall cost: 15%

  • Add-ons and discount options: 20%

  • Standard coverage: 17.5%

  • State availability: 5%

  • Support availability: 20%

  • Connectivity: 12.5%

  • Authority: 10%

We use these rating factors to determine the best renters insurance companies to help with your decision when looking at policies. Our data is monitored on a regular basis to be sure we provide the most up-to-date information and advice. 

Source: on 2021-04-28 14:54:43

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