Florida
Disability Insurance

Everyone deserves the opportunity to protect their quality of life and their future, and with disability insurance you can. You can think of disability insurance as your financial safety net, giving you an earnings replacement if you’re not able to earn a paycheck due to illness or injury. We’ve laid out the cost-of-living analysis in Florida to show you the average expenses in the state and why d

How much does it cost to live in Florida?

According to a survey from the council for Community and Economic Research (C2ER), Florida ranked as the 30th most affordable state with a cost-of-living index that doesn’t exceed the U.S. national average. With that said, the Sunshine State is known for its higher-than-usual insurance rates. Florida residents, for example, pay extra for home insurance due to the state's weather and claims history.

Cost of living parameters

Housing & Rent

The value of a typical home in Florida is slightly lower than the national median value. The average home in the state costs around $382,000, whereas the national average home value reaches $408,800.

Renting in the state of Florida is on the higher side. A typical 2-bedroom apartment in the state will cost you on average $1,500+, nearly 27% higher than the national average of $1,200.

Childcare

In Florida, the average yearly cost of childcare is $9,238—that's $770 each month. Caring for an infant in the state costs 96.6% more than in-state tuition at a public 4-year college. Additionally, infant care costs 69.8% of your average rent!

Here’s a look at the annual childcare costs from infant to college:

  • Infant: $9,238
  • 4-year-old: $7,2821
  • School: $9,5932
  • College: $4,4633

Utilities

Apartment utilities refer to the essential services required in a home such as gas, water, electricity, cable, and internet. The cost of utilities is on the high side in Florida. According to the Energy Information Administration, Florida residents incur an average monthly

electricity bill of around $126.44. Electricity costs in Florida are 13% higher than the national average of $111.67.

Approximate cost of each utility per month in Florida:

  • Electricity: from $100 to $200
  • Water: $28 - $60
  • Gas: $30 - $505
  • Cable: $45 - $60
  • Internet: $60
  • Cell Phone: $80 - $1206

Food & Groceries

The typical single adult in Florida spends an average of $3,177 on groceries each year, while a family of four with 2 working adults spends $9,305 on average. Both these values are slightly lower than the national average spent on food in the country; a single $3,240 for a single adult and $9,354 for a family of four.

Eating out at restaurants and cafes is considered an additional expense.

Here is how much dinner would cost in a mid-tier restaurant in different Floridian cities:

  • Miami: $60.20
  • Jacksonville: $51.30
  • Tampa: $53.10
  • Orlando: $47.40
  • St. Petersburg: $55.109

Transportation

Public transportation services across the state are available for all residents, making it easy to get around, especially since Florida is considered to be the second most expensive state to own a car. You’ll need to pay $6,765 annually, that’s $564 monthly, on maintenance, gas, insurance, and registration. The annual average cost of owning a car in Florida is significantly higher than that of the national average of $5,264.

Average Income & Taxes

The average yearly income of a single adult living in Florida is $40,748 and the estimated annual state income tax is $4,300.

Most Expensive Floridian Cities to Live in

These are the 5 most expensive places in Florida:

  • Palm Beach
  • Bal Harbour
  • Pinecrest
  • Key Biscayne
  • Surfside

Why is disability insurance important to have in Florida?

As shown by the above cost of living study, a steady income is required to live comfortably and worry-free. Whether you work full-time or as a freelancer, getting disability insurance is the first step towards financial stability.  

What would happen if you found yourself unable to earn a paycheck because you were too ill or injured to work? According to a recent survey conducted by the personal financial website Bankrate, more than half of Americans (51%) have less than three months' worth of emergency funds.

Medical bills are reported to be the number one cause of U.S. bankruptcies. One study has claimed that 62.1% of bankruptcies were caused by medical issues. Other studies show that over 2 million people are adversely affected by their medical expenses.  

If medical bills start piling up, you’ll no longer be able to support your lifestyle in other areas as well, especially if your income is on hold. You might find yourself unable to pay for utilities and rent, and that eventually could lead to foreclosure. In fact, half of foreclosures on conventional mortgages in Florida are caused by the disability of one of the homeowners. In fact, the foreclosure rate in Florida is 0.23%.

A lot of people still think that the need for disability insurance is not top priority, thinking that disability rarely happens, and when it does, it’s only caused by serious accidents. But did you know that up to 90% of disability cases recorded are due to illness, not injury?

With that being said, getting a private disability income insurance should be on top of your to-do list because life is unpredictable but your income shouldn’t be.

Does Florida have state disability insurance?

Only five states require companies to provide their employees with disability insurance coverage that includes benefits for accidents or illnesses sustained outside of the workplace. Unfortunately, Florida isn’t among these states. Only workplace accidents in Florida are covered by worker's compensation insurance.


If you live in Florida and are unable to work due to a medical condition, the federal disability programs administered by the Social Security Administration (SSA) are likely your only option for receiving disability benefits, if you’re looking for a governmental policy. However, it's typical for initial claims to be rejected. Though approval rates in the state have improved in recent years, they still fall short of the national average of around 30%.  

What qualifies as disability in Florida?

If you have disability insurance provided by your employer, make sure to double check the criteria in the agreement that qualify you to receive disability benefits when you’re unable to work. Some of these criteria can include the following:

  • You are unable to perform the Substantial and Material Duties of your Regular Occupation as shown on the schedule and;
  • You are under the Regular Care of a Physician appropriate for your disabling Sickness or Injury and;
  • There is no reasonable simplified worksite modification(s) which would allow You to perform one or more of the Substantial and Material Duties of your regular job.

How can I easily get disability insurance in Florida?

Seeking a private disability insurance policy is the best option in Florida. Here at Asteya, we offer disability insurance (or disability income insurance as we like to call it) that’s simple, fast, and affordable. Our 100% digital process means we don’t tire you out with proof of income, medical exams, phone interviews, or wait times.  

Who qualifies for disability insurance in Florida?

Most insurances are bought to protect homes, vehicles, and health, but our most valuable asset tends to get neglected: our income. 70% of working Americans live paycheck to paycheck, with little savings to buffer the financial burden of a disability that leaves them unable to work.

At Asteya, we offer 2 types of disability income insurance: Permanent Disability Income Insurance and Long-Term Disability Income Insurance. Please visit asteya.world for more details on the eligibility of our product offering.

How much does disability insurance in Florida cost?

Protecting your income shouldn’t be a luxury, so here at Asteya, we’ve created affordable and easy solutions that won’t drain what you’re trying to protect (your income!). Our prices start as low as:  

  • Permanent Disability Income Insurance: starting at $6.05/month
  • Long-Term Disability Income Insurance: starting at is $5/month

The bottom line

On average, living in the state of Florida will cost you $3634 per month, give or take – that’s a lot of expenses! You've invested a lot of time and hard work in building a life that works for you, and your hard work should not go to waste due to an accident or illness. That’s why you should protect your lifestyle and your income with DI.

If you're still on the fence about whether disability income insurance is for you (hint: it is), here are a few extra points to consider while thinking about it:

  • Asteya’s applications are 100% digital. We don't require blood tests or doctor's appointments, unlike other insurers and we'll just ask you a few minutes of questions to determine your best policy.
  • Get paid out directly on an approved claim and spend without restrictions once it's in your bank account.
  • We've made our Income Insurance as inclusive and accessible as possible. From corner store employee to corner office executive, our products were created to fit every budget and lifestyle.

How do I get disability insurance?

Get a quote from Asteya in seconds and go from applicant to insured in minutes