Best Renter's Insurance Companies in Hialeah, FL

FAQs

• Is wind or flood damage included in your Hialeah renters' insurance?

  No. While wind and flood can possibly damage the apartment or condo you are living in, the building owner should be the one to worry about such damages. Your renters' insurance in Hialeah covers the contents of your place that are stolen by thieves or destroyed by fire or vandalism. Minor injuries of your guests in your home are also covered by renters' insurance through its liability coverage.

• What are the factors that affect the cost of renters' insurance in Hialeah?

  The coverage amount of the renters' insurance policy is one of the most important factors that greatly impact the cost that policyholders need to pay. Additionally, the rates of renters' insurance are impacted by the location of the tenants, as insurance providers in Hialeah consider whether they reside in a community with elevated crime levels or not. Other factors that insurance companies consider include deductibles, the actual cash value or replacement cash value, and liability coverage limits.

• Is it required for a tenant to carry renters' insurance in Hialeah?

  No. Tenants are not legally required by the Hialeah government to have renters' insurance on hand when they decide to rent an apartment or condo. However, there are landlords who ask renters to have proper insurance coverage to protect themselves and their belongings from property damages, personal injury, and theft.

• Is it ideal for you to share renters' insurance with your roommate in Hialeah?

  It is not advisable to split renters' insurance with your roommate in Hialeah, as it may not result in long-term savings. If your roommate files a claim on the shared policy, it could impact your insurance record for up to seven years, potentially causing a 20% increase in future premiums. If you still choose to share insurance, assess your roommate and document everyone's belongings through video inventory to determine the necessary coverage.

• How much is the average cost of renters' insurance in Hialeah, and how does it fare compared to other cities in Florida?

  The typical cost of renters' insurance in Hialeah is approximately $225 annually or $19 monthly. This falls below the average yearly rates in Homestead and Miami, which are $230 and $231, respectively. However, Hialeah's rate is higher compared to several other Florida cities, including Boca Raton, Tampa, and West Palm Beach, with average annual costs of $200, $163, and $200 for renters' insurance.