Best renters insurance companies: Expert-reviewed 2024
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 5:01 a.m. UTC July 1, 2024
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State Farm has the best renters insurance of 2024, according to our analysis of rates and consumer complaints to state insurance departments. State Farm offers the cheapest renters insurance out of all the companies we analyzed, charging an average of $10 per month for a policy with $30,000 in personal property coverage.
State Farm also has a low rate of consumer complaints, implying that customers are satisfied with how the company handles claims and settlements.
Editor’s Note: This article contains updated information from a previously published story.
Best renters insurance companies
- State Farm: Best renters insurance.
- Westfield: Best for customer satisfaction.
- USAA: Best for veterans and military members.
- American Family: Best for diminishing deductible.
- Auto-Owners: Best for discounts.
- Nationwide: Great for enhanced personal property coverage.
- Country Financial: Best for coverage upgrades.
- Allstate: Best for renters with poor credit.
Why trust our renters insurance experts
Our team of renters insurance experts has decades of experience as licensed property and casualty experts, insurance editors and consumers. We approach renters insurance analysis as if we were shopping for ourselves or our family members, focusing on rates and customer complaints.
Using a data-driven methodology, we evaluate hundreds of renters insurance products, analyze thousands of data points and rate each insurer to help you find the best renters insurance product for your situation. Advertisers never influence our editorial content. You can read more about our methodology below.
- 14 renters insurance companies reviewed.
- 47,850 rates analyzed.
- 5 levels of fact-checking.
Explore cheap renters insurance quotes
Lemonade
Top-rated renters insurance companies
Editor’s expert take:
“If you’re looking for the cheapest renters insurance, State Farm is a safe bet. The average cost of $75,000 in personal property coverage is only $16 a month. State Farm also offers inflation guard coverage that you can add to your policy. It automatically adjusts your coverage every year to account for inflation.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Editor’s expert take:
“Westfield has the lowest customer complaint level of all the companies we analyzed. While it doesn’t offer many discounts, Westfield has below-average rates when compared to other top-scoring companies.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Editor’s expert take:
“Although USAA is tailored to the military community, you may qualify for membership if a family member is a USAA member. For example, if your grandparent was in the military and was a USAA member, and then your parent became a USAA member, you may also qualify.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Editor’s expert take:
“If you’re between the ages of 18 and 30 and your parents are American Family customers, you can score a generational discount to save on your renters insurance. And for every year you don’t file a claim, your deductible diminishes by $100. Your deductible is how much is subtracted from your insurance claim payout. So, there’s a chance you can get your deductible down to $0.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Editor’s expert take:
“Auto-Owners doesn’t offer the cheapest rates of companies we analyzed, but it has plenty of discount options to help you save. There are some easy discounts to qualify for, like if you sign up for paperless billing or install a fire or burglar alarm.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Editor’s expert take:
“If you have expensive belongings, you may want to consider getting Nationwide renters insurance. Most insurers have special limits on how much they’ll pay out for the theft of valuable property like jewelry, watches and antiques. With Nationwide, you can purchase Valuables Plus coverage to extend those coverage limits. You can also get brand new belongings coverage to make sure you’re paid out at today’s prices after an approved claim.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Editor’s expert take:
“Renters insurance doesn’t cover every type of damage. If you’re looking for enhanced coverage, Country Financial offers umbrella insurance with up to $1 million in liability coverage, identity theft restoration, earthquake and flood insurance.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Editor’s expert take:
“Many states allow insurers to consider your credit score when determining your rates. If you have poor credit, consider getting a policy with Allstate. It offers the cheapest rate for poor credit renters of our top-scoring companies, at an average of $15 a month for a policy with $30,000 in personal property coverage.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
Methodology
Our insurance experts collected data on 14 renters insurance companies. The factors we scored out of a possible 100 points include the following.
- Rates: 70 points. We analyzed renters insurance rates from Quadrant Information Services. Renters insurance rates are based on policies for a 40-year-old female renter with $100,000 in liability coverage, the average cost of personal property coverage of $15,000, $30,000, $50,000, $75,000, $100,000 and $200,000 and a $500 deductible.
- Complaints: 30 points. We collected complaint data from the National Association of Insurance Commissioners, which shows the volume of renters insurance consumer complaints against each company. When a consumer lodges a complaint to their state’s department of insurance — often about an insurance company’s claims process, delays, denials or settlements — these complaints are logged.
If you’d like to dig in deeper, head over to our renters insurance ratings methodology page.
Best renters insurance companies comparison 2024
Here’s how the best renters insurance companies compare to one another, including cost, NAIC complaint levels and our rating.
| RENTERS INSURANCE COMPANY | Monthly cost for $15,000 in coverage | OUR RATING | COMPLAINT LEVEL | LEARN MORE | ||||||
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 State Farm | $9 | Very low | Compare Rates Compare rates offered by participating partners | |||||||
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 Westfield | $11 | Very low | Compare Rates Compare rates offered by participating partners | |||||||
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 USAA | $10 | Very low | Compare Rates Compare rates offered by participating partners | |||||||
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 American Family | $13 | Very low | Compare Rates Compare rates offered by participating partners | |||||||
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 Auto-Owners | $9 | Very low | Compare Rates Compare rates offered by participating partners | |||||||
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 Nationwide | $11 | Low | Compare Rates Compare rates offered by participating partners | |||||||
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 Country Financial | $15 | Very low | Compare Rates Compare rates offered by participating partners | |||||||
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 Allstate | $9 | Very low | Compare Rates Compare rates offered by participating partners | |||||||
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*USAA renters insurance is only available to eligible members of the military community and their families.
Renters insurance costs by state
Depending on where you live, a renters insurance policy with $15,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible can cost between $8 and $29 a month. Use the map below to see the average monthly cost of renters insurance in your state.
How much does renters insurance cost?
According to our analysis of rates, the average cost of renters insurance with $15,000 in personal property coverage is $154 per year or $13 per month.
Here’s the average annual cost of renters insurance by company and personal property coverage amount.
| RENTERS INSURANCE COMPANY | $15,000 in personal property coverage annual rate | $30,000 in personal property coverage annual rate | $50,000 in personal property coverage annual rate | $75,000 in personal property coverage annual rate | $100,000 in personal property coverage annual rate | $200,000 in personal property coverage annual rate | ||||||||
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| State Farm | $102 | $121 | $153 | $189 | $224 | $361 | ||||||||
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| Allstate | $109 | $153 | $215 | $296 | $381 | $719 | ||||||||
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| Auto-Owners | $113 | $147 | $196 | $257 | $319 | $565 | ||||||||
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| USAA | $116 | $155 | $196 | $242 | $289 | $461 | ||||||||
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| Nationwide | $129 | $163 | $207 | $262 | $315 | $496 | ||||||||
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| Westfield | $136 | $156 | $183 | $216 | $247 | $370 | ||||||||
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 Shelter | $136 | $213 | $297 | $408 | $517 | $954 | ||||||||
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 Farmers | $146 | $194 | $263 | $345 | $419 | $713 | ||||||||
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 Erie | $151 | $210 | $278 | $361 | $440 | $657 | ||||||||
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| American Family | $154 | $189 | $231 | $271 | $302 | $415 | ||||||||
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| Country Financial | $174 | $201 | $253 | $318 | $378 | $621 | ||||||||
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 Progressive | $178 | $220 | $281 | $358 | $431 | $802 | ||||||||
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 Travelers | $244 | $310 | $432 | $551 | $708 | $1,612 | ||||||||
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Editor’s expert take
Your location, claims history and coverage amount impact how much you pay for renters insurance. If you live in an area that experiences frequent home break-ins, you may see higher rates.
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
How to choose the best renters insurance company
Here are some tips for choosing the best renters insurance for your needs and budget.
- Determine how much personal property coverage you need. Tally the value of your belongings to make sure you don't underinsure your personal property. The average renter has approximately $30,000 in belongings.
- Calculate the total value of your assets. You can typically get liability coverage of $100,000 to $300,000. If your assets exceed that amount, you may want to consider a renters insurance company that offers umbrella insurance to supplement your liability coverage.
- Consider how much you can pay if you’re displaced from your home. Loss of use coverage pays for temporary additional living expenses if your rental property is uninhabitable after a covered disaster. Depending on the insurance company, your loss of use limit may be set at a percentage of your personal property coverage limit, like 30% or 40%. If you want more coverage, consider looking for an insurer that offers an adjustable limit.
- Get multiple quotes. The cost of renters insurance varies by company, making it important to compare quotes before making a decision.
- Maximize discounts. Review available discounts from renters insurance companies to see where you can save money. If you own a car, you may be able to bundle your car insurance and renters insurance policies. Some renters insurance companies also offer discounts for loyalty, setting up automatic payments or going a set amount of time without filing a claim.
- Consider riders. Not all renters insurance companies provide the same riders. One company may offer replacement cost coverage but not identity theft protection, so keep shopping until you find the right combination to meet your needs.
Editor’s expert take:
“Renters insurance doesn’t cover flood or earthquake damage. Consider purchasing flood insurance or earthquake insurance to cover damage to your personal property after these natural disasters. Some of our top-scoring companies, like Country Financial, offer these products.”
Kara McGinley, Deputy Editor of Insurance, USA TODAY Blueprint
How to save on renters insurance
Follow these steps to make sure you’re getting the most affordable renters insurance for your needs.
- Shop around. Comparing renters insurance quotes can help you be sure you’re not missing out on a better deal elsewhere.
- Raise your deductible. The higher your deductible, the cheaper your renters insurance, but the less you’ll be reimbursed in the event of a covered claim.
- Ask about discounts. Most major insurers offer discounts, such as a payment discount if you pay your premiums in one lump sum. You may also qualify for a loyalty discount if you stick with the same insurer for a certain amount of time.
- Improve safety features. Installing a fire and/or burglar alarm could be an easy way to score a renters insurance discount.
Best renters insurance (FAQs)
Renters insurance can be a good investment at an affordable cost.
For an average renters insurance cost of about $13 a month, you can get:
- $15,000 in personal property coverage (with a $500 deductible). Your belongings will be financially protected in the event they’re stolen, damaged or destroyed by a covered problem in your policy, like a fire, break-in or windstorm.
- $100,000 in liability coverage. This pays for other people’s medical expenses and your legal fees if you’re responsible for someone else’s bodily injury or damage to their property. Without liability coverage, if you’re at fault for an incident — like your dog bites someone at the park — and you can’t pay their medical bills, your assets could be at risk if you’re taken to court over the matter.
It depends on the renters insurance company. While a standard renters insurance policy will cover liability related to dog bites or property damage up to policy limits, some companies exclude large-breed dogs or those with aggressive behavior tendencies.
Because requirements vary from company to company, it’s best to ask about any exclusions or restrictions when shopping for renters insurance.
If you have homeowners insurance and your child lives temporarily away from home, your policy may extend coverage to them.
Check with your insurance company to make sure your student is listed as insured on your home insurance policy and their belongings are covered while they are living in a dorm or off-campus.
The most common amounts of renters insurance coverage are:
- Personal property coverage: $15,000, $30,000 or $50,000.
- Loss of use coverage: A flat amount, such as $3,000, or a percentage of your personal property coverage limit, such as 40%.
- Liability coverage: $100,000 to $300,000.
- Medical payments to others coverage: $1,000 to $5,000.
Ultimately, renters insurance coverage limits vary by renters insurance company.
Yes, your landlord can require you to carry renters insurance for the duration of your lease as part of your lease agreement.
Renters insurance costs around $18 per month for a policy with $30,000 in personal property coverage, a $500 deductible and $100,000 in liability coverage. Here’s how much you’ll pay on average per month for renters insurance by personal property coverage amount:
- $15,000 in personal property coverage: $13 per month.
- $30,000 in personal property coverage: $18 per month.
- $50,000 in personal property coverage: $24 per month.
- $75,000 in personal property coverage: $32 per month.
- $100,000 in personal property coverage: $41 per month.
- $200,000 in personal property coverage: $77 per month.
Yes, renters insurance includes loss of use coverage. Loss of use coverage pays for additional living expenses you incur if your rental property is left uninhabitable due to a covered problem in your policy, like a fire. Loss of use coverage can pay for things like hotel stays, restaurant meals, pet boarding and public transportation while you’re temporarily displaced from your rental.
Yes, renters insurance can pay to replace your belongings if they’re stolen — even if the items are stolen away from your residence, such as while you’re traveling — up to a certain coverage limit.
However, renters insurance often has “special limits” for the theft of certain categories of high-value items.
Here are some examples:
- Firearms: $2,500 maximum for theft of firearms or related equipment.
- Silverware, goldware and platinumware: $2,500 maximum for theft.
- Jewelry, watches, fur and precious metals: $1,500 maximum for theft.
These limits are typically set for entire collections, meaning it’s $2,500 for your entire firearm collection, not per firearm.
If you have high-value items like jewelry, you may need to buy additional coverage to make sure their value is fully insured in the event of theft.
After an incident, be sure to collect as much information as possible before filing a claim with your renters insurance company.
- File a police report if your belongings were stolen or vandalized.
- Contact your renters insurance company to let them know you’ll be filing a claim.
- Take photos and videos of any damage.
- Report damages to your landlord.
- Read your lease before initiating temporary repairs.
- Keep receipts for any temporary repairs you make.
- Review your renters insurance policy for coverages, limits and your deductible.
- File a claim on your renters insurance company’s app or website, or contact the claims department to start the process.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
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