Florida Just Cut Renters Insurance Rates for 122,000 Policyholders — What do Renters in Miami, Tampa, and Orlando Actually Pay
Most renters in Florida are making a costly assumption. They assume the landlord’s insurance covers them. It doesn’t. The landlord’s policy covers the building — the walls, the roof, the structure. Your furniture, your electronics, your jewelry, your clothing — none of it is covered if there is a fire, a break-in, or a pipe that lets go at 2 in the morning.
Florida Insurance Commissioner Mike Yaworsky approved a rate decrease this week that makes renters insurance more affordable for more than 120,000 Florida policyholders. It is good news. But the bigger story is that most Florida renters don’t have coverage at all — and the ones who do are already paying among the highest rates in the country.
What Just Happened — The Rate Cut
Florida’s Office of Insurance Regulation approved an average 12.8 percent rate decrease for American Modern Home Insurance Company, effective October 11, 2026. The reduction applies to approximately 121,898 renters insurance policies across more than 30 Florida counties. In Orange County, the decrease averages 13.4 percent. In Broward County — where American Modern writes its heaviest volume of renters policies — the average reduction is 13.8 percent…