Breaking down Florida renters insurance and what it covers

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Photo of apartment covered by Florida renters insurance

Here’s a fun fact: You don’t have to be a homeowner to protect yourself with home insurance. 

That’s right. Many of the top insurance companies in Florida also offer renters insurance which typically provides many of the same coverages that exist in a homeowners policy.

That’s because renters and homeowners share similar risks as a result of living in this lovely yet hurricane-prone Sunshine State.

While renters don’t usually require insurance for the actual building, as this is often the landlords’ job, having a policy that covers a number of risks, such as damage to personal property or personal liability claims, is never a bad idea.

If you’re a renter, chances are your living space is filled with your own personal belongings, some of which could be extremely valuable. Renters insurance does not have to be expensive, with most premiums available at an affordable rate.

Here are the four coverages that exist in most renter policies.

Personal Property

As the name suggests, this part of the policy protects your personal property that is owned or used by the residents. Most insurers will cover items that are not even located in your home. 

It also extends to cover other people’s property that has been affected while at your home. For example, if you borrow a neighbor’s set of tools and it is later stolen from your home, you can file a claim to cover the loss.

However, there are many conditions as to what is insured and what isn’t. Currency or “hard cash” is one example of a personal property that insurers are unlikely to replace. Furthermore, there are often limits to what an insurer will pay, especially for highly-priced items, such as jewelry.

Personal Liability

This part of the policy will pay for any damages for which you are legally liable. For example, if someone slips and falls while at your home because you left the floor wet, your insurer will cover any legal expenses or settlements up to a certain limit.

But most renters policies in Florida are not limited to what happens within your home. If you accidentally scratch a car while walking through a parking lot, your liability can cover that property damage because it was due to your negligence.

However, there are some things that some insurers won’t cover, such as pet-related incidents. If you are a parent to one of the dog breeds listed here, it is unlikely that your insurer will cover expenses in the event that your dog bites another person.

Loss of Use

If you do suffer a loss and your residence is then deemed unfit to live in, then this part of the policy will reimburse you for any expenses incurred from maintaining your standard of living.

If your house is totally inhabitable, your insurer will pay you for ‘Fair Rental Value’ while your home is being repaired.  For example, if a fire occurs, you can get help with the additional expenses that come with living in a hotel.

Medical Payments

This part of the policy is useful in a scenario where a guest is injured in your home but there is no negligence and the medical bills are minor. If you invite a friend over and they accidentally injure their hand, your insurer will cover their medical expenses up to a certain limit. It is important to remember, however, that this does not cover any residents of the home.

Is renters insurance right for you? Get advice from an insurance agent at

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