Landlord insurance in Tallahassee

As the home of Florida State University and Florida A&M, institutions with a combined total enrollment that tops 50,000, Tallahassee provides plenty of opportunity for landlords. Over 60% of the homes in Tallahassee are non-owner occupied. 

Renting out a second home or an in-law suite is a great way to make some extra income. But, remember that you want to protect your assets with affordable landlord insurance. 

Let’s take a look at how much landlord insurance can cost in Tallahassee and how you might save so you can make the most of your investment property.

How much does landlord insurance cost in Tallahassee, Florida? 

The Insurance Information Institute says landlord policies generally cost about 25% more than a typical homeowners policy. This is because renting to tenants increases the amount of risk landlords face, and that requires additional protection from the insurance company.

So right there, your costs may be higher than what you pay for your home insurance – which is already pretty expensive in Florida. Moreover, all the issues that push Florida home insurance rates up impact landlord insurance costs, too. 

Tallahassee also has its own unique risk that can impact your insurance premium. Like any town near the Gulf Coast, the city’s exposed to severe weather events. Risk Factor rates Tallahassee’s wind risk as extreme based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. 

Tropical storms and hurricanes may present the greatest risk:

• Statistically, hurricanes directly impact Tallahassee on average once every eight years – or 22 hurricanes in the last 171 years.

• Tropical storms strike Tallahassee on average once every 3.5 years – or 50 tropical storms in 171 years.  

• As recently as September, 2023, Hurricane Idalia hit Tallahassee and Florida’s Big Bend region as a Category 4 storm, bringing 125 mph sustained winds.

Tallahassee also has a higher-than-average property crime rate that places upward pressure on landlord insurance premiums.

Ways to lower your landlord insurance premium

While landlord insurance premiums in Tallahassee may be high, there are ways to save. The first is to work with us. Our technology lets us evaluate tons of publicly available insurance data to help us price your property fairly. 

You can also earn discounts on your premium by installing fire sprinklers, having a claims-free history, and mitigating your wind risk.

Choosing higher deductibles is another method some landlords use to lower their insurance premiums. Our landlord policies in Tallahassee have the following deductible options:

• Standard deductible

• $500

• $1,000

• $2,500

• $5,000

• Hurricane deductible

• $500

• 1%, 2%, 5%, or 10% of your dwelling coverage limits.

Landlord insurance FAQ

• What is landlord insurance?

• How does landlord insurance work?

• Does homeowners insurance cover tenants?

Resources for Tallahassee, FL, landlords

• Insurance for Air B&Bs and other short term rentals

• Changing insurance when you start renting out your home

• Forms for Florida landlords and tenants

• Landlord and tenant resources

• Landlord risk mitigation fund

• Landlord-tenant mediation program

How to get landlord insurance in Tallahassee

Lately, it seems like getting landlord insurance in Florida is all but impossible. But we’re dedicated to making sure property owners in high-risk areas get the protection they need as quickly and easily as possible. 

The first step? Get a free quote from us. You can enter your address or give us a call at (855) 717-0022. Either way, you can get a Kin quote in just minutes.

Landlord insurance for Florida cities