Miami - Insanely high renter's insurance -

[Mary Joe]

Hi All

Just wonder if this is the norm for Miami.

I received a quote for renter's insurance with liability coverage of $300K and wind coverage, the quote is about $1100 for 1 year. Is this normal for Miami?

The agent told me there is only 1 carrier that does renter insurance in the area and I will get the same quote anywhere I go.

btw, it is a small 500 sq feet condo.

Just want to get the board's opinion before I sign up for this.

Thanks.

[Matt Devincenzo]

Are you talking about "renters insurance" or "rental property insurance"? Renters insurance normally refers to the insurance a tenant gets for their personal property.

For property insurance it wouldn't surprise me if it was that high as most insurance carriers ceased insuring in FL after all the losses from the hurricanes a few years back. You can try to check out National Real Estate Insurance Group (no affiliation just a customer) they were cheaper than others I tried and their standard policy is 1M in liability and you can get additional liability coverage fairly cheaply.