Orlando Landlord Insurance

Your Complete Guide to Orlando, FL Landlord Insurance

(Find the right landlord insurance policy for you.)


Maybe you own a condo in downtown Orlando that you lease to young professionals who have recently moved to the city. Or perhaps you own a house that you rent out to students attending the University of Central Florida. Regardless of how you use your rental properties, if they are occupied by tenants, they need to be covered by landlord insurance.

Independent insurance agents are available to answer your insurance-related questions. These agents can work with several different insurance companies to provide you with a variety of customized landlord insurance quotes. That way, you can be sure you are getting the coverage you need at a competitive price. Find an insurance agent near you to get started. 

Why Own a Rental Property in Orlando, FL?

Orlando is a great place to own a rental property. This city has one of the highest rates of renter-occupied housing in the US.

Rental statistics for Orlando

  • Percentage of homes that are renter-occupied in Florida: 36.7%
  • Percentage of homes that are renter-occupied in Orlando: 64.9%
  • Average market rent in Florida: $1,449
  • Average market rent in Orlando: $1,433

Investing in rental properties in Orlando can be extremely lucrative. However, it is not without its risks. By protecting your property with a reliable landlord insurance policy, you can increase your likelihood of seeing large profit margins.

What Is Landlord Insurance and How Much Does It Cost in Orlando?

Landlord insurance is a specific type of homeowners insurance policy that is designed to meet the unique coverage needs faced by owners of rental properties. You can expect your landlord insurance policy to be about 15% more expensive than a traditional homeowners policy. This is because you have greater liability and property damage risks when you have tenants. 

Landlord Insurance Covers Property Damage in Orlando

As a landlord, you will have lower contents coverage needs than you would if the property was your primary residence. This is because your tenants will be responsible for covering their own personal property with a renters insurance policy. You will, however, need to have coverage for the structure of the home as well as for any of your own personal belongings inside it, including flooring, appliances, and other owned property. Your policy can cover losses resulting from such things as severe weather events, accidental fires, and damage caused by your tenants.

Catastrophic events in Florida

  • Number of federally declared disasters in Florida: 122
  • Most common reasons for disasters in the state: Wildfires and Hurricanes
  • Average number of tornadoes per year in Florida: 54.6
  • Average amount of property damage per year in FL:  $3.45 billion
  • 1 in 15 insured homes has a claim each year.

While Orlando does not face as many weather risks as Florida cities that are located along the coast, there is still a risk of weather-related property damage. For example, Hurricane Irma caused extensive destruction in the Orlando area. And in 1998, an F3 twister touched down just 8 miles from the Orlando city center and caused $15 million in damage. It is important to note that while hurricane damage is covered by your landlord insurance, the flood damage that often accompanies these storms is not. Be sure to talk to your local insurance agent about covering the structure of your rental property with a flood insurance policy through the NFIP.


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Property Crimes in Orlando Are Covered by Landlord Insurance

Your landlord insurance policy can provide coverage if your rental home is damaged as a result of property crimes such as vandalism or burglary. The burglary rate in Orlando is extremely high, and this can have a significant impact on your landlord insurance rates. 

Orlando property crime statistics:

  • Burglary rate per 1,000 home in the US: 4.69
  • Burglary rate per 1,000 homes in Florida: 4.87
  • Burglary rate per 1,000 homes in Orlando: 13.10
  • Average annual number of burglaries in Orlando: 3,529

Although your tenants’ renters insurance policy should cover their losses in the event of a burglary, your property may sustain damage such as a busted window, a broken down door, or other property damage. Your landlord insurance policy can cover the cost to repair this damage. Your policy can also offer coverage if your tenants maliciously damage your property or if accidental damage, such as from an overflowing bathtub, leads to excessive damage.

Coverage against Liability Lawsuits for Orlando Landlords

Rental properties pose high liability lawsuit risks for landlords. This is one of the main reasons that landlord insurance is so important. Liability insurance is designed to cover court costs, legal fees, and damages related to covered events. Your landlord insurance policy’s liability coverage can protect you if your tenants or their guests are injured due to negligence in upkeep on your part. This can often be a tricky situation for landlords, since they are often not notified about potential problems in their rental units, but may then be held liable if those problems result in injuries. 

Some problems that might lead to costly liability lawsuits include loose stair treads, carbon monoxide leaks, or fires caused by faulty wiring in the home. If you wish to have liability coverage in amounts that are higher than your landlord insurance policy will allow, your insurance agent can also help you find an affordable umbrella insurance policy.

Why Work with an Independent Agent?

If you want to be certain that you are getting your landlord insurance at a great price, you will need to do some comparison shopping. Independent insurance agents in Orlando can save you time and money by doing the legwork for you.

Contact an insurance agent near you to learn more about your options when it comes to buying landlord insurance in Orlando.

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