Popular Questions about Florida Landlord Insurance

29.9% of homes are rentals

Landlord insurance provides coverage for property owners who are renting out one or more residential homes, apartments or condos. If you're a landlord, you'll need protection from financial loss that could occur from damage to your rental properties after a fire, break-in or severe weather event. With this unique and necessary coverage, you'll receive compensation if one or more of your units becomes uninhabitable due to circumstances beyond your control.

Where does the insured live?

  • Homeowners- Lives in home with or without a tenant.
  • Landlord- Lives in home with a tenant or lives somewhere else.

What buildings does the policy cover?

  • Homeowners- The home itself and other structures on the property.
  • Landlord- The home itself and other structures on the property.

What personal property does the policy cover?

  • Homeowners- Most property is covered, including furniture, clothing and computers.
  • Landlord- Only covers items owned by the insured and used to service the rental property, like furniture, snow blowers and appliances.

What does the liability coverage do for me?

  • Homeowners- It will pay for any covered accidents you’re responsible for regardless of where they happened.
  • Landlord- It will pay only for covered accidents you’re responsible for on the rented premises.
  • Does it cover my tenant's personal property?
  • Homeowners- No. It does not.
  • Landlord- No. We recommend you require your tenants to carry renters insurance.
  • The differences between these two types of insurance lies in how you use the property and the kind of protection you need. Homeowners insurance, designed for owner-occupied residences, protects the home and the owner's personal belongings and liability. Alternatively, landlord coverage is designed to protect your investment as a landlord. When we dig deeper, you'll see that there are plenty of differences that lie in things like dwelling coverages (typically covered in both, but types of perils vary) and separate structure policies (typically automatic for homeowners, but an endorsement for landlords).

Florida landlord insurance will protect you from a number of situations and potential financial downfalls. The most common claims are due to damage to the property, most of which is water-related in the Sunshine State. You'll also be protected from accidents and injuries that may happen on the premises. This will help with lawsuits and medical bills if a liability claim comes through. It can also cover any damage to separate garages, sheds and fences. The protection is varied and wide-reaching so you can receive 360 degrees of protection.

Pays for repairs to your home and your personal property.

Example: A tree falls on the house that you own.

Pays for accidents and injuries that occur on the premises of your rented home. 

Example: A visitor to your rental trips on some debris and breaks an arm.

Average annual cost for Florida landlord insurance: $2,340

Landlord insurance is calculated by factoring in things like your home's size and building materials,  and your credit score. It’s typically around 10% to 20% more expensive than homeowners insurance would be.

Average annual cost for Florida renters insurance: $202

We would also recommend that you require your renters to buy renters insurance. This is about how much it would cost them per year in Florida.

Average Yearly Florida Building Damage Claims

Landlord Insurance US Stats

Number of Home Burglaries 2.5 million annually

Average rental cost in  the US $188,900

Average landlord insurance cost: $986 year