Why You Need Renters Insurance

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Even though renters insurance protects tenants financially from risks both common and extraordinary, not everyone shares the same perspective on why this type of insurance matters. Naturally, a person who’s never had insurance or filed a claim will see less value than someone whose livelihood was saved because of insurance coverage. Yet, people’s assets also seem to influence their perceptions of whether insurance is important. Based on national averages, a Florida homeowner is 50 percent more likely to carry home insurance than a tenant is to have renters insurance.

Why Renters Insurance Matters in Florida

Why Renters Insurance Matters in Florida Part of the incentive to rent a property is the convenience of having a landlord who’s responsible for the building. When a maintenance issue arises, for example, it is the property owner and not the renter who must rectify the situation. Yet, simply renting the apartment doesn’t exclude the tenant from certain responsibilities as well as liabilities. Were a water pipe to burst and flood a rental property, for example, the landlord would be responsible for the plumber, while any water damage to the renter’s personal property is that tenant’s burden alone. But if the tenant had applicable renters insurance, the coverage would pay for the cost of these damages. In fact, many landlords make rental insurance a requirement for tenants because the coverage can address a number of scenarios tenants could face.

Property Damage

Rather than the house, or apartment building, renters insurance protects the tenant’s belongings that are on the property. Should these items become damaged, the insurance coverage will compensate the policy holder, so long as the cause of the damage is covered by the plan. In Florida, for example, a lightning storm could cause a power surge that ruins electronics plugged into outlets. For a renter with lots of electronics, the financial loss from a power surge would be significant without renters insurance coverage.


The risk of personal property getting stolen is an incentive to have renters insurance. To someone renting a house that was burglarized, the reimbursement for the price of a lost laptop or a television could more than compensate for the annual cost of the renters insurance.

Temporary Location

When a disaster causes a rental property to be uninhabitable, renters insurance can pay for temporary housing until the original location is restored. For example, if a hurricane in Florida damages the roof of a rental house or apartment building and causes it to be uninhabitable for a while, renters insurance may pay for a temporary housing.


When a renter is held liable for damages to a third party, renters insurance can provide needed financial protections. For example, if a third party sustains an injury in an apartment unit, the tenant could be held liable for damages if the injured person files a lawsuit. A similar example of liability is if a tenant on the second floor of an apartment building overflows their washing machine and damages properties below, the tenant could be financially responsible for those repairs. The right renters insurance coverage could protect tenants from situations like this.

Florida Commercial Insurance Coverage

In addition to renters insurance and other personal lines insurance coverage, Front Street’s insurance division offers commercial insurance coverage, including professional liability (E&O), commercial property, business auto, commercial general liability, commercial personal property, and lessor’s risk only (building owner / landlord) policies to name a few. Furthermore, our team of experienced agents works across the entire state of Florida building individualized commercial insurance coverage plans for clients in different industries. As a full-service firm, Front Street also handles other business services, including brokerage and commercial property management. Contact us to learn about our commercial insurance coverage and other services.


Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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