A lot can happen to your personal belongings: fires, hurricanes, and theft. Even house guests or visitors can come back to bite you if they’re hurt on your property and need to cover medical expenses or file law suits. That’s where renters insurance comes in. Our helpful guide for Florida renters insurance breaks down the facts for you. Want to hear more from a qualified expert? Get a free Florida rental insurance quote by calling [mapi-phone /].
What is the average cost of Florida renters insurance?
Renters can expect to pay about $217 in Florida renters insurance premiums annually. At 16% higher than the national average, it doesn’t come close to what you’d spend to replace your belongings or pay for medical and legal bills. If you tally up everything you own from televisions to jewelry to furniture, you would still spend less on their annual cost of renters insurance policy than to replace almost any single item on the list. To explain it even further, it only takes 27 a year to pay for your premium when earning a minimum wage. If you find yourself in a situation where you need insurance but don’t have it, you’ll have to work a lot more hours than that to pay for your losses.
What is included in Florida rental insurance coverage?
Realizing that you’re a victim of theft is never easy. Unfortunately, there were 153,563 burglaries in Florida in 2012. A smart way to protect against the unexpected is by purchasing a renters policy. This will guarantee the replacement of your personal property in the case of theft as well as fire, water damage (not flood), wind, and many other weather related events. If you add up everything you own and the potential for something bad to happen, it won’t be hard to realize that you should have a rental insurance policy.
What discounts are there for rental insurance in Florida?
A lot goes into your renters insurance policy. Factors such as location, your personal property amount, and if you’ve ever filed a claim before can make your price go up or go down. However, there are some discounts out there to help you save money, including:
- Bundling: Bundle discounts are when you have multiple policies with one insurance company can lower your renters insurance rates.
- Higher deductibles: Be careful with this one in case you need to make a claim.
- Safety precautions: Fire detectors and security systems can lower your premium.
- No claims history: Low risk is always associated with lower premiums. If you haven’t filed a claim, you’ll often be able to save on renters coverage.
Facts about Florida Renters Insurance
In Florida, 33% are renters. That’s a pretty big percentage. Considering that an average two-bedroom rental property is $1,012 and it costs roughly $217 for rental insurance every year, it’s easy to see how affordable it is to protect yourself and belongings.
Trust Insurance Experts Licensed in Florida
Licensed agents exist to help those looking for renters insurance in Florida find affordable renters insurance policies that meet all of their needs. Give one a call at [mapi-phone /] to get renters insurance quotes if your ready to shop, or to have additional questions answered.