What if the house I rent is damaged in a hurricane? A guide to renters insurance in Florida
You might be under the impression that flood and home insurance is only for homeowners. But what if your apartment or rental home gets damaged in a hurricane?
Some landlords require tenants to have renters insurance for their personal belongings and it covers most hurricane damages, but not all.
With Hurricane Idalia set to make landfall on Florida's Gulf Coast on Wednesday, renters should be aware of what their renters insurance covers and what it doesn’t.
How does renters insurance work in Florida?
Renters insurance isn’t required by law, but landlords are allowed to require tenants to sign up for renters insurance as a part of their lease agreements in Florida.
It doesn’t matter if you live in an apartment, rental home or condo, if you’re a renter, you can buy renters insurance.
Although landlords cover the cost to insure their building, any insurance they may have does not cover the renter’s personal property. Like home owners, renters also have to seek a flood insurance policy separate from their general renters insurance policy.
HO-4 insurance policies, or renters insurance, cover damages for personal belongings if they were damaged by wind, lightning, fire, theft or vandalism. Any damage sustained from flooding can’t be covered under a regular renters insurance policy and must be covered by a flood insurance policy.
Here’s a list of personal property items covered under renters insurance and flood insurance for renters:
Furniture
Clothing
Electronics
Appliances and kitchen equipment
Bedding and towels
Most sports and hobby equipment, such as bicycles and musical instruments.
Hurricane season tips for homeowners: Five insurance facts to know, when to buy
How much does renters insurance cost in Florida?
Renters insurance policies in Florida average between $12 and $25 per month.
Things like the amount of coverage needed, the value and condition of the rental home, previous rental history and prior claims, proximity to areas at risk of flood or storm surge, pet ownership and military status all affect the price of renters insurance.
Like with homeowners’ insurance, renters can find flood insurance policies through the National Flood Insurance Program and FEMA’s Floodsmart search tool.
Living in Florida? These flood insurance facts could save you thousands
What are a tenant's rights after a natural disaster?
The Florida Residential Landlord and Tenant Act, says that if a rental property is substantially damaged or unlivable, renters have one of two options:
If the rental unit is completely unlivable, a tenant may move out
When only a part of the unit is unlivable, the tenant may vacate the part of the unit that is unlivable, reducing the rent by the fair market value of the part of the home that is damaged or destroyed.
Dropped from your home insurance policy? Here's what to do
Can I break my lease after my house or apartment floods?
You have the right to terminate your lease only if your rental home, apartment or condo is unlivable.
Lianna Norman covers trending news in Palm Beach County for The Palm Beach Post. You can reach her at lnorman@pbpost.com. You can follow her reporting on social media @LiannaNorman on Twitter.
This article originally appeared on Palm Beach Post: What does renters insurance cover in Florida? How does it work?
