Cheapest & Best Renters Insurance In Orlando 2025

State Farm offers the most budget-friendly renters insurance in Orlando, averaging about $8 per month. However, if you need broader coverage, Nationwide is a better option, with slightly higher rates of around $10 per month.

Orlando sees more than 12,000 property crimes each year, affecting approximately 38 out of every 1,000 residents. Given these crime rates, having renters insurance is a wise decision. It safeguards your belongings while providing financial protection and peace of mind.

Cheapest Renters Insurance Companies In Orlando

If you’re looking for affordable renters insurance in Orlando, State Farm offers the lowest rates at an average of $8 per month. To help you compare options, the table below highlights the five most budget-friendly providers.

Best Renters Insurance Companies In Orlando

If you’re renting in Orlando and need budget-friendly insurance, State Farm is a great option. However, the cheapest policy isn’t always the best. In my view, Nationwide stands out as the top choice for renters insurance in the area. It offers extensive coverage options, receives better customer reviews than many competitors, and has a highly rated mobile app that makes managing policies much easier.

Average Cost Of Renters Insurance In Orlando

In Orlando, renters usually spend about $16 per month or $192 per year on insurance. However, your actual cost may differ based on factors such as coverage limits, location, deductible, and the insurer’s pricing structure. The table below highlights the average rates from five top providers in the city.

Average Cost By Deductible

A deductible is an amount you’re responsible for paying before your renters insurance kicks in to cover a claim. Choosing a higher deductible can lower your monthly premium, while a lower deductible typically means higher monthly costs. The table below outlines the average renters insurance rates in Orlando for different deductible options.

Factors That Impact Renters Insurance Costs In Orlando

Several factors affect the cost of renters insurance in Orlando:

Credit Score: Many insurers consider credit scores when determining rates, with lower scores often leading to higher premiums.

Deductible Amount: A higher deductible lowers your monthly premium, while a lower deductible increases costs since the insurer assumes more risk.

Location: Insurance rates tend to be higher in areas prone to natural disasters or crime. Orlando’s risk of hurricanes, severe storms, and property crime can contribute to increased premiums.

Home Safety Features: Installing security systems, smoke detectors, or sprinkler systems can lower the risk of claims and may qualify you for discounts.

Coverage Limits: Policies with higher coverage for personal property and liability tend to be more expensive, especially when add-ons like identity theft protection or replacement cost coverage are included.

Claim History: If you’ve filed multiple claims in the past, insurers may consider you a higher risk, leading to increased insurance costs.

What Does Renters Insurance Cover In Orlando?

Renters insurance offers essential financial protection for tenants by covering various risks. Here are the key coverages typically included in a policy:

Personal Property Protection

Safeguards belongings like electronics, furniture, and clothing from risks such as theft, fire, and certain types of water damage (excluding floods).

Liability Coverage

Covers legal fees and medical expenses if you’re held responsible for injuring someone or damaging their property.

Additional Living Expenses (ALE)

Pays for temporary housing, meals, and other necessary costs if your rental becomes uninhabitable due to a covered event.

Medical Payments to Others

Provides limited coverage for medical bills if a guest is injured in your rental, regardless of who is at fault.

What Does Renters Insurance Not Cover In Orlando?

While renters insurance offers valuable protection, it does have certain exclusions and limitations. Here are some common risks that standard policies typically don’t cover:

Flooding

Standard renters insurance doesn’t cover flood damage. Since some areas in Orlando are prone to flooding, a separate flood insurance policy is essential for full protection.

Wildfires

Damage from wildfires is usually excluded. Given the wildfire risks in parts of Orlando, purchasing additional wildfire insurance is a smart choice.

Pest Infestations

Issues caused by rodents, termites, or bedbugs are considered maintenance problems and are not covered.

Intentional Damage

Any damage you or a household member deliberately cause is not included in standard coverage.

Car Theft or Damage

Renters insurance does not cover personal vehicles. You’ll need an auto insurance policy for protection.

High-Value Belongings Over Policy Limits

Expensive items like jewelry, artwork, and collectibles may exceed standard coverage limits. Adding a policy rider can provide extra protection.

Business-Related Losses

If you run a business from your rental, standard renters insurance won’t cover business equipment or liabilities unless you add specific business coverage.

How Much Should Students Pay For Renters Insurance In Orlando?

In Orlando, students can expect to pay between $10 and $27 per month for renters insurance, depending on their coverage needs. Several factors influence the cost, including the apartment’s location, the value of personal belongings, and any optional policy add-ons.

Off-campus students often pay higher premiums due to larger living spaces and increased risk exposure, while those in college dorms typically have lower rates since shared housing tends to be less expensive to insure.

Before selecting a policy, it’s essential to evaluate the value of personal belongings. While standard renters insurance covers most items, students with high-value electronics, bicycles, or other expensive possessions may need additional coverage. Some insurers also provide discounts for bundling renters and auto insurance, helping to reduce overall costs.

How Much Renters Insurance Do I Need In Orlando?

Choosing the right renters insurance in Orlando starts with assessing the value of your personal belongings. Standard policies generally provide coverage between $30,000 and $50,000, which meets the needs of most renters. However, if you own high-end furniture, expensive electronics, or valuable jewelry, you may need extra coverage.

Liability protection is another key factor. Most basic policies offer $100,000 in liability coverage to help cover costs if someone is injured in your rental. Opting for a higher limit can provide added financial security.

It’s also important to consider Additional Living Expenses (ALE) coverage, which helps pay for temporary housing and essential costs if your rental becomes uninhabitable due to a covered event.

Lastly, your deductible impacts both your premium and out-of-pocket expenses when filing a claim. A higher deductible lowers your monthly payments but increases the upfront amount you’ll need to cover before your insurance kicks in.

Can Landlords In Florida Require Renters Insurance?

Renters insurance isn’t legally required in Florida, but many landlords include it as a lease condition. This benefits both parties—tenants can protect their belongings, while landlords reduce liability risks. In fact, many popular apartment complexes in Orlando require renters insurance as part of the lease agreement.

If your lease mandates renters insurance, you may need to provide proof of coverage, such as a policy declaration page or a certificate of insurance. Some landlords also set minimum coverage limits, often requiring at least $100,000 in liability protection. Failing to meet these requirements could result in penalties or even lease termination.

Even when it’s not required, renters insurance is a smart investment—especially in Orlando, where property crime rates are high and hurricanes pose a real threat. A policy helps safeguard your personal belongings and provides financial protection against unexpected liability claims.

Bundle Renters With Auto Insurance

Bundling renters and auto insurance is a smart way to save money, as many insurers offer discounts for combining policies. These discounts typically lower renters insurance premiums by 2% to 5% while also helping insurers build long-term customer relationships.

This option is especially useful for renters who already have auto coverage. Keeping both policies with the same provider simplifies account management, improves customer service, and offers perks like flexible payment plans or expanded coverage limits.

However, it’s important to compare options before bundling. While combining policies can lead to savings, make sure both policies provide the coverage you need at a competitive price.

Common Causes Of Loss In Florida

Florida renters often file insurance claims for theft, fire, water damage, and hurricane-related losses. Understanding these risks can help tenants choose the right coverage to protect their belongings and financial well-being.

Fire

Fires in multi-unit buildings can spread quickly, leading to major losses. Renters insurance helps cover the cost of replacing personal belongings damaged by fire. Given Orlando’s fire risks, having coverage is a smart decision.

Theft

With over 12,000 property crimes reported in Orlando each year—and more than 215,000 incidents statewide—renters insurance can help replace stolen belongings. Some policies also include liability coverage if someone is injured during a break-in.

Water Damage

Leaks from plumbing, burst pipes, and roof issues can cause costly damage. While renters insurance typically covers internal water damage, flood-related losses require a separate flood insurance policy.

Hurricanes and Storms

Severe storms and hurricanes are among the biggest risks in Florida. Fortunately, most renters insurance policies in Orlando cover hurricane-related damage.

Other Covered Losses

Renters insurance may also cover vandalism, accidental damage, and some natural disasters, providing extra peace of mind.

By understanding these risks, renters can select a policy that offers the right level of protection for their specific needs.