Florida Renters Insurance quote and information.
Many times when we don’t own the space we live in, it’s easy to think that you are not responsible for anything that happens or that the landlords insurance is going to protect you. The reality is that nothing can be further from the truth!
Renters insurance for your personal apartment or home can help protect you against lawsuits that come from occupying the space, like accidentally leaving the water running and overflowing into your neighbors space or a guest falling and blaming you for their medical bills.
Most renters insurance policies in Florida combine the coverages of personal property and liability. So on top of the protection against lawsuits for your use of the apartment, you can also have protection for your personal property (also known as contents).
The renters policy is similar to a homeowners insurance policy but because it only covers the liability and property of the tenant it is significantly less expensive.
What is renters personal property insurance?
Think of the place you rent as a box, personal property is all the stuff you put into the box. This means things like furniture, clothing, home electronics. Depending on the policy there may be some limited coverage for items like fine art, antiques, firearms, precious metals (silverware, jewelry) but most of the time these items should be insured separately so you can have coverage for their full value.
How much does Florida Renters Insurance cost?
In Florida, the cost of renters insurance can be based on quite a few factors. Here are four you can keep in mind when you are looking for a quote:
- Location. Where your rented apartment or home is located can be a big factor in the cost of the insurance. Urban areas like, Miami, Orlando, Ft. Lauderdale, Gainesville, Tampa have many places to rent but because of the population density crime is also higher than in more suburban communities so the cost of the coverage would be higher.
- Amount of Personal Property. This may seem like a no brainier but the amount of stuff you have to insure effects the cost of the insurance. A smaller apartment or studio apartment may have less contents so the cost of the insurance may be less. That being said the cost of your stuff also need to be taken into consideration. If your studio apartment at the beach has newer more trendy furniture the cost might by higher than your average off campus student apartment.
- Type of building. If you are renting in a highrise building made of concrete block, the apartment is much less likely to be damaged by a neighboring fire than say a lowrise apartment building or home with wood walls. The construction of the building is can significantly change the cost of your Florida renters insurance policy.
- Multipolicy discount. Though there are fewer insurance carriers that offer this but definitely make sure you are exploring the option of having multiple policies with the same carrier which can result in multipolicy discounts.