Renters Insurance

No matter where you live Florida, it’s important to have adequate renter’s insurance to protect your personal property from loss or damage. Renter’s insurance is designed especially for those individuals who don’t own their own home but are leasing their place of residence. Whether you are renting an apartment, a condo, or a house, you should seriously consider purchasing Florida renter’s insurance to safeguard your valued possessions in the event of theft, fire, or weather-related calamities.

Why You Need Renters Insurance in Florida
Given the current state of the housing market, more people than ever are choosing to rent rather than buy. But as the number of renters continues to increase, the number of people actually purchasing renter’s insurance is not. It is estimated that only 43% of people who rent carry renter’s insurance. Insurance experts agree that there are many reasons why people don’t have renter’s insurance. Some misguided explanations are:

  1. They think renter’s insurance coverage will be too expensive.
  2. They think their landlord’s coverage will pay for their personal losses or damage.
  3. They think they don’t own enough personal property to make it worthwhile.
  4. They greatly underestimate the value of their belongings.

If you live in Florida and are currently renting a place to live, you should know the facts about renter’s insurance and why it’s so important to have adequate coverage for your personal property and cherished possessions.

A renter’s insurance policy in Florida generally will cost between $180 and $200 annually. When you consider that most people spend more than this on gourmet coffee every year, renter’s insurance seems like a really good bargain!

Your landlord’s homeowner coverage does protect the actual building you are renting and also the land it is built on. But all the items you have inside of your apartment or rental home are your responsibility. Without proper renter’s insurance, this means that you alone will have to replace the lost or damaged items. Just imagine having to buy everything at today’s market value. This is probably the most compelling reason why people make the smart decision to purchase and carry renter’s insurance.

Florida residents should be aware that a typical renter’s insurance policy does not include coverage for damage or loss due to earthquakes and floods. You should speak with your agent about the specific details of weather-related disasters and what is covered in your policy. Inquire about hurricane damage and consequent flooding, for example, to make sure you have adequate protection.

What Renter’s Insurance Covers
Florida renter’s insurance will normally offer you three types of protection:

Personal possessions – This will protect your personal belongings against loss and damages due to theft, leaky water pipes, fire, smoke, vandalism, and various natural disasters. Floods and earthquakes generally require separate coverage.

Liability – This protects you in the event a person visiting your home injures themselves and sues you for damages. This policy provides medical coverage for the injured person’s medical bills.

Additional living expenses – If the place you are renting is damaged or destroyed by a natural disaster covered by your renter’s policy, your temporary living expenses, such as a hotel room, will be paid for along with restaurant meals.

We have friendly, qualified agents available 24/7 to help you formulate the policy you need at a price you can afford. You can easily compare policies and get quotes from several different companies and then make the right decision for your situation and budget.