Renters Insurance Florida
The average estimated cost of a rental insurance policy in Florida was $128 a year in 2013. Renters insurance is less expensive than many people realize: average homeowners insurance is $1190 a year in Florida.
Comparing Renters and Owners Insurance in 2013 in Florida
The landlord's policy does not cover renter's damages like burglary. There were 153563 burglaries reported in Florida in 2012. So, to protect one from events like fire, burglary or other disasters renters insurance is required.
Renters Insurance Coverage Types:
Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. For example, a Laptop bought for $1110 might be worth only $560 in six months, and that is all one is going to get for it.
Replacement Coverage Policy in Florida:
- In that same example, you won't necessarily get what you paid for your Laptop, but you'll get enough to buy another one just like it. Replacement Cost Insurance in Florida costs about $32.0 more than the Actual Cash Value policy.
- The average renters insurance of $10 per month is 0.67% of median monthly rent, taking into account Florida median rent as $1500 per month.
Estimated Renters Insurance for Different House Types in Florida
|House Type||Median Rent||Estimated Renters Insurance|
Deductibles in Florida:
In Florida, by choosing a $500 deductible over a $250 deductible, an average of $14.08 can be saved on the insurance premium.