How much is renters insurance in Tampa, FL

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The average cost of renters insurance in Tampa, FL is $246 per year (for insurance coverage of $40,000 in personal property coverage, $300,000 in liability coverage and $1000 as deductible) — that’s $2 less than the state average of $248 a year.

It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you live in a rented apartment or home, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.

We did a thorough analysis of renters insurance companies to find the most affordable options for Tampa renters. Keep reading to find out the cheapest renters insurance companies in Tampa.

Key Takeaways

According to Insure.com’s data study, renters insurance costs an average of $246 per year or $21 per month in Tampa.
Travelers has the cheapest renters insurance for Tampa renters at $10 per month.
Taking advantage of discounts, such as having a security system or bundling renters insurance with other insurance policies, can help reduce your insurance premiums.

What is the average cost of renters insurance per month in Tampa?

The average monthly cost of renters insurance in Tampa is $21, which is equals to the state average of $21. This rate is for the coverage limit of $40,000 in personal property, $100,000 in liability protection and a $1000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Tampa pay $14 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $7 more.

You’ll need to determine the right amount of coverage based on your needs and budget. However, opting for higher coverage limits is recommended if you own valuable items like jewelry, furniture and electronics.

How much is renters insurance in Tampa by deductible?

The average cost of renters insurance in Tampa is $189 annually for a $500 deductible and $20,000 in personal property coverage

The deductible is the amount you pay out-of-pocket before your insurance kicks in. If you raise your deductible, your premiums will decrease. For example, if you maintain $20,000 in personal property coverage but increase your deductible from $500 to $1,000, you’ll save $16 every year on your insurance.

Here are the renters insurance premiums for different personal property coverage and deductible amounts.

Deductible	$20000 personal property	$40000 personal property	$60000 personal property
$500	$189	$271	$357
$1,000	$173	$246	$322

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Tampa?

Your search for affordable renters insurance ends here.

Travelers has the lowest rates in Tampa, with an annual premium of $10 per month. Based on Insure.com data study, Nationwide and FedNat Holding also offer cheap rates.

After evaluating renters insurance quotes from all the national and regional insurance companies in Tampa, the experts at Insure.com put together a list of the most affordable insurance carriers.

Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in Tampa, FL.

Renter insurance provider	Average annual rate	Average per month rate
Travelers	$121	$10
Nationwide	$140	$12
FedNat Holding	$220	$18
Allstate	$222	$18
Security First Insurance	$222	$19
State Farm	$245	$20
Universal Insurance Holding	$260	$22
Amer Integrity Ins Co of FL	$285	$24
Progressive	$299	$25
Citizens Property Insurance	$335	$28
HCI Group Inc	$510	$43

Tips for reducing renters insurance cost

Here are some tips to help reduce renters insurance costs in Tampa:

Bundle insurance policies: If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Tampa.

Increase deductible: Opting for a higher deductible can lower your premium in Tampa, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage: Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims: Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around: Don’t settle for the first quote you receive. Compare renters insurance quotes in Tampa from multiple providers to find the best price for the coverage you need.

Final thoughts

Renters in Tampa, FL should purchase renters insurance to protect their belongings and financial health. The cost of coverage varies based on your location, coverage limits and individual circumstances. To find the best deal, evaluate your coverage needs, compare quotes from different providers and take advantage of any available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Tampa for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.