Friday, July 1, 2022

 Is Your Student Protected from Displacement?

florida-renter-insuranceIn July, the Orlando Sentinel reported on a massive fire that took place at Tivoli Apartments. An entire building in the apartment complex was destroyed. Approximately 60 firefighters were called to the blaze. The State Fire Marshal deemed the cause of the fire accidental.

Thankfully, there were no reported injuries but 75 residents were displaced.  The nearby University of Central Florida (UCF), confirms 25 of those displaced are students at the university. UCF has been working with local businesses to supply food and toiletries as well as replace textbooks for affected students.

“We applaud the efforts of UCF and the surrounding community to provide supplies for the victims of the fire. It expresses a real sense of compassion and concern,” said Ellsworth Buck, Vice President of GreatFlorida Insurance. Unfortunately, without renter’s insurance, it can be expensive for students to replace all their items lost in the fire.”

Quite often, there are misconceptions regarding renter’s insurance. Common myths renters often believe include the following, renter’s insurance is too expensive, I don’t have enough valuables to get renter’s insurance or the landlord’s insurance will cover damages.

Renter’s insurance is actually quite affordable, typically costing less than $150 a year. So maybe you do not have brand new belongings. Many renters underestimate the cost of their property. Renter’s insurance covers the cost of electronics, clothes, dishes and more. Once you add up the cost to replace everything you own, you realize it is a lot more than you think.

A landlord has insurance on your property, but it is required to only cover the cost of the structure, not your personal belongings. Renter’s insurance will protect you from personal liability as well as cover damage you might accidentally cause to another tenants property. In the case of a fire or natural disaster, where you could become displaced, renter’s insurance can cover the cost of temporary housing.

At GreatFlorida Insurance, our agents will shop around to find the right amount of renter’s insurance for you. Every policy is personalized for each individual customer.  There is no need to pay for excessive coverage, but you want enough to meet your needs.  While your actual policy will be determined by variables such as location, your age and the amount of coverage you need, renter’s insurance typically falls into two different categories, a cash policy or a total replacement policy.


An actual cash value policy covers the current costs of your stuff, taking into account its depreciated value. Let’s say you bought a laptop for $1200, two years ago. Its current depreciated value would be $500. The renter’s policy takes into account the deprecated value and pays out that amount.

A total replacement policy or reimbursement provision comes with a higher premium because it covers the cost of replacing your belongings currently, despite the price you paid.  This type of renter’s insurance is recommended for those who have invested in newer stuff.

A GreatFlorida Insurance agent can advise you on how to inventory your personal belongings and determine their worth, making sure your renter’s insurance offers adequate protection. Contact us online today.


Ellsworth Buck
Since 2003, Ellsworth has served as Vice President of GreatFlorida Insurance, a network of independent, franchised insurance agents located throughout Florida. During his tenure he has helped the franchise grow to more than 100 independent locations state wide. He is a 20+ year veteran of the Florida Insurance industry and is a graduate West Virginia University, earning his M.B.A in 1984. He lives with his wife in Stuart, Florida. For more information visit:

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