5 Thoughts on I live in Florida. Can I get renters insurance to protect my things if I live with my parents?
  1. Reply
    July 14, 2011 at 12:38 am

    I think that you would have to just be covered under their renters insurance.

  2. Reply
    July 14, 2011 at 1:22 am

    You should move out. You are to old to be living at home.

  3. Reply
    July 14, 2011 at 1:57 am

    Ought to be covered under THEIR policy IF they HAVE insurance.

  4. Reply
    July 14, 2011 at 2:20 am

    Normally, you can get renters insurance living in your parents house. You don’t need to actually pay rent, in order to get your stuff covered.

    HOWEVER. You’re in Florida, the property insurance nightmare of the US. I’m not sure that 1. you’ll find anyone willing to write a renters policy and 2. you’ll be able to afford it. Given current property issues, I’d imagine IF you find coverage, it would run at LEAST $ 500 a year.

  5. Reply
    Kim W
    July 14, 2011 at 2:48 am

    for the record

    There is insurance for Home, Condo, AND Renter’s insurance and the market is becoming more agressive in competition for Florida. Mobile homes age 1996 and older are stuck with the State of Florida Insurance known as Citizens.

    Your things are actually covered under your parents’ home policy because of the definition of insured is as follows:

    Those named on the policy, known as named insured, and resident relatives (those whose names do not appear on the policy are not policy owners but it is outlined under the defintion of insured as a relative living in the home)

    Now you are not covered for liability causing claims because you are no longer a minor.

    You can get Renters Insurance (known by its insurance name as HO4) to not only cover your things, but it also includes Liability. This is if you cause accidental injury to person or property damage and they say compensate me.

    The biggest mistake renters make is looking at their stuff in current condition and current value of what someone would pay for it as is (known as Actual Cash Value) Think about Replacement Cost Value, which is fair market value to go get it again at the retail store. This is everything you portably own (don’t forget clothes and bed linens). If you own an animal, ask if the feature is available to add on.

    Companies to entertain that are reasonable: Homewise, United Property & Casualty, Southern Oak. Contact them and they can give you local agent in your area. Still contact your parents’ insurance agent to get a comparative quote. Many of these companies offer 4 pay plan programs.

    I just quoted one for $ 27,000 in coverage in a 1970 building for $ 192 per year. In the past the average was about $ 310 per year

    Hope that helped and good luck!

    edit add: I would appreciate those who DO NOT know a region’s current insurance market average annual premium rate or the marketability of available policies to please refrain on expounding haphazardly on the topic. There is more going on than one realizes and as I do not know the trick’s of the trade in another’s market region to drive down a premium cost, I only offer generalized advice based on the standardization rules of insurance with the disclaimer only your local agent is best to guide you to the specifics of your state’s legal statutes and the specifics of the policy holder’s policy jacket language as States AND Companies vary to degrees of practice.

    Florida is NOT the capital of insurance nightmare. There are other coastal community States running into the same insurance industry concerns, the difference is FL vanguarded the problem and continues to be a watch model on how catastrophe insurance and claims will be handled to possibly consider it as what not to do or even possibly mimic its model set up in those other Coastal States.

    In fact, FL is pushing for a National Catatrophe Program to include hurricane coverage with the flood and to increase coverage beyond the $ 250k building limit

    i.e. I have one company offers water back up coverage but not animal liability. Another offers Animal Liability but not water back-up. Remarkably, I have the 3rd one offering BOTH. My 4th one offers neither

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