Top Agents Near You in West Palm Beach, FL

Renters insurance may cover the following situations, subject to policy limits and any deductible:

• A burglar has stolen your furniture, clothing, and electronics. Personal property insurance may cover the cost of replacing the items (special limits may apply).
• Personal property insurance may cover the cost of replacing the items (special limits may apply).
• You are liable if a visitor is injured at your home. Their medical expenses may be covered by their liability insurance.
• Water damages your apartment, forcing you to relocate while repairs are made.
• Loss of use coverage may pay for an increase in living expenses, such as lodging.

Flood damage is typically not covered by your renters insurance policy. However, if the water damage is unexpected and not caused by flooding, your personal belongings may be covered.

According to a NerdWallet rate analysis, the average cost of homeowners insurance in Florida is $2,122 per year, or about $177 per month. And that figure is rising. Due to frequent natural disasters and litigation costs that insurers pass on to consumers, Florida home insurance rates have skyrocketed in recent years.

State Farm is the cheapest car insurance company in Florida, with an average annual rate of $2,623. On the other end of the spectrum, Allstate has the West Pam Beach’s highest rate. Its average annual auto policy costs $4,139.

According to most insurance companies, a reasonable amount for life insurance is six to ten times the annual salary. If you multiply your annual salary by ten, you’d choose $500,000 in coverage. Some experts advise adding an extra $100,000 in coverage per child above the 10x amount.