How to Compare Renters' Insurance in Florida

Florida renters' insurance covers any theft and destruction of personal possessions.

According to the website Insure.com, the average cost of renters' insurance in Florida in 2010 was $201 per year per property. Knowing how to comparison shop for renters' insurance can help keep your premiums low and your coverage high.

Armchair Price Quotes

Company premiums differ. RentersInsurance.net recommends that Florida renters get quotes online, as major carriers provide fast quotes by zip code. To begin your search, identify which carriers cover your area by visiting the Florida Office of Insurance Regulation website.

Inventory Your Home

Florida renters should inventory their home to find out how much coverage they need. In Florida, basic renters' insurance replaces an item based on its actual cash value, or used, price so individuals with hard-to-replace or antique items may want to consider purchasing a rider that covers the replacement value.

Background Checking

The National Association for Insurance Commissioners recommends getting a company's financial and claims records, which are public documents. Consumer watchdog groups such as the Better Business Bureau and Standard and Poor's, can also offer consumer-based data, which can provide hands-on, customer-rated comparisons and reliability information.

References

• Insure: Average Home Insurance and Renters Insurance Premiums by State
• Renter's Insurance: Florida's Renter's Insurance
• National Association of Insurance Commissioners: Consumer Information Source

Resources

• National Association of Insurance Commissioners: Home Inventory Checklist
• Insurance Finder: Renters Insurance
• National Association of Insurance Commissioners: Consumer Information Source
• Better Business Bureau
• Florida Office of Insurance Regulation