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Best renters insurance companies: 2018

When it comes to renters insurance, USAA, Chubb, Allstate, AIG and Esurance are top of the heap according to Insure.com’s recent customer survey ranking the best renters insurance companies.

Customer survey 2018: Best renters insurance companies
1. USAA -- 90.38
2. Chubb (ACE INA Group / Ace Limited) -- 89.75
3. Allstate -- 88.34
4. AIG (American International Group) -- 88.22
5. Esurance -- 86.93
6. Progressive -- 86.62
7. Liberty Mutual -- 86.16
8. American Family -- 85.92
9. Hartford -- 85.79
10. Erie -- 85.50
11. Farmers -- 85.47
12. Nationwide -- 85.13
13. State Farm -- 84.70
14. Safeco -- 83.75
15. Travelers -- 81.89

Insure.com commissioned a survey of more than 3,700 insurance customers nationwide and analyzed customer ratings for 15 leading companies in the rental, home and condo insurance category. Only current customers of the insurers on our lists were surveyed.

landlords requiring renters insurance


We examined six factors:

  • Value for the price
  • Customer service
  • Claim satisfaction
  • Website and app ease of use
  • Recommendation - How likely a customer is to recommend their insurer
  • Renewal - How likely they are to renew with the same insurer

Who has the best renters insurance?

USAA was the overall No. 1 ranked renters insurance company. USAA consistently ranks at the top of customer satisfaction surveys (they topped the latest J.D. Power survey as well). Unfortunately, unless you are a military family or direct relative of a military member, USAA is not available to you.

Luckily, there are plenty of other insurance companies that ranked very well in our survey.

Renters insurance is a very affordable protection that is often overlooked. According to a 2015 Insurance Information Institute (III) poll, only 40 percent of renters had a renters insurance policy in place, compared to 95 percent of homeowners who carry homeowners insurance.

A Rent.com survey found that younger renters were even more likely to ignore the need for protection with 72 percent of renters under 25 years old foregoing a policy. Older renters were slightly better with 51 percent carrying a policy.

This can be a major mistake, as severe weather, a fire, or even an upstairs neighbors overflowing tub can cause major damage to all of your possessions. If you are uninsured, you will be on the hook to replace all of your property.

"Renters insurance may be the most overlooked, yet necessary, insurance coverage type. Renters often make the false assumption that, since they don't own the property, they don't need insurance. However, many renters keep some of their most valuable assets, such as jewelry, furniture, musical instruments, computers, and clothing in their rented space," advises Kent Thune, insurance analyst with FitSmallBusiness.com.

Replacing your property isn't the only protection that renters insurance brings to the table. Liability protection is another major benefit of renters insurance.

"Renters need liability protection for personal situations, such as getting into an argument with someone, or a guest tripping and falling warns Scott Johnson with Marindependent Insurance Services in Marin County, California."While many renters think they can't be sued because they don't own a house, this is completely untrue. Because many renters are saving money to buy a house and have assets sitting in a bank, they actually need liability insurance even more than many homeowners."

How much is renters insurance a month?

Rates for renters insurance have been fairly stable for a number of years and it is a real bargain right now.

Rates vary based on coverage amounts, the renter's credit history, and where they call home but based on an Insure.com rate analysis, the national average for a renters policy is a very affordable $197 a year or roughly $17 a month. Prices in South Carolina, Pennsylvania and Hawaii are about average. Louisiana's are the highest, at $719 a year. Colorado's are the lowest, at $103.

These figures are based on coverage levels of $40,000 for personal property, a $1,000 deductible and $100,000 of liability protection.

Best renters insurance value for the price

Our survey found the following insurers were the best value for the price:

  • Chubb (ACE INA Group / Ace Limited)
  • USAA
  • AIG (American International Group)
  • Esurance
  • Allstate

In addition to claiming the top five spots for value, these five insurers are also the top five overall, making them a great choice for renters coverage.

Finding the best renters insurance companies

While pricing is always important, it is never a good idea to shop for renters insurance (or any insurance for that matter) on price alone. A cheap policy quickly becomes useless if you have trouble making a claim or contacting someone in customer service.

When searching for the best renters insurance company be sure to examine all of the factors. While Erie just missed the top five (it was number six) when it came to pricing, it dropped all the way down to number 14 in the claim process rankings and number 11 in customer service. Look for an insurer that scores well on all three factors we examined.

Shopping your coverage on a regular basis can help ensure you are getting the best coverage at the best price. While pricing in the renters insurance market is fairly stable, insurance companies rate risk differently which can result in dramatically different premium quotes.

Bundling and discounts are another option to help lower your premium. Renters insurance is often bundled with auto insurance. Grab as many other discounts as possible to push down your rates. According to J.D. Power, roughly 81 percent of renters insurance customers received some type of discount on their policy.

Average cost of renters insurance: Renters insurance quotes by company for each state

Insure.com commissioned Quadrant Information Systems to provide renters insurance rates for nearly every ZIP code in the country from up to six major insurers. The applicant profile is of a married, 35-year-old who has filed no claims in five years. Coverage includes medical payments coverage of $5,000, contents replacement at replacement value and loss of use at 10 percent of personal property limit.

    For coverage of $20,000 for personal property, with a $1,000 deductible and $100,000 in liability protection, you can see how major insurers compare on price. Enter your state in the search field to see what you can expect to pay in your location.

     

    StateCompanyAverage annual rate
    AlaskaAllstate$76
    AlaskaUSAA$98
    AlaskaState Farm$115
    AlabamaUSAA$132
    AlabamaTravelers$165
    AlabamaAlfa Mutual$166
    AlabamaState Farm$184
    AlabamaAllstate$185
    AlabamaLiberty Mutual$194
    ArkansasTravelers$128
    ArkansasState Farm$164
    ArkansasFarmers$279
    ArkansasFarm Bureau $295
    ArizonaUSAA$51
    ArizonaTravelers$125
    ArizonaState Farm$150
    ArizonaAmerican Family$150
    CaliforniaAllstate$133
    CaliforniaMercury$143
    CaliforniaTravelers $166
    CaliforniaState Farm $172
    CaliforniaLiberty Mutual$263
    CaliforniaFarmers$287
    ColoradoUSAA$51
    ColoradoLiberty Mutual$63
    ColoradoAmerican Family$77
    ColoradoState Farm$125
    ColoradoTravelers$125
    ConnecticutAllstate$100
    ConnecticutAmica$111
    ConnecticutTravelers$127
    ConnecticutState Farm$127
    DCUSAA$47
    DCState Farm$121
    DCAllstate$124
    DCChubb$127
    DCTravelers$133
    DelawareUSAA$48
    DelawareLiberty Mutual$111
    DelawareState Farm$116
    DelawareTravelers$125
    DelawareAllstate$129
    DelawareNationwide$262
    FloridaTravelers$150
    FloridaAllstate$215
    FloridaState Farm$224
    FloridaUSAA$246
    FloridaUniversal $269
    FloridaFlorida Peninsula $337
    FloridaUnited $443
    GeorgiaUSAA$60
    GeorgiaState Farm$115
    GeorgiaCountry $118
    GeorgiaTravelers$126
    GeorgiaGeorgia Farm Bureau $136
    GeorgiaAllstate$196
    HawaiiState Farm$115
    HawaiiAllstate$137
    HawaiiFirst Fire & Casualty$150
    HawaiiUSAA$176
    IowaAllied $88
    IowaFarm Bureau$91
    IowaAmerican Family$103
    IowaState Farm$115
    IowaTravelers$125
    IdahoAllstate$98
    IdahoLiberty Mutual$100
    IdahoState Farm$115
    IdahoFarmers$131
    IdahoAmerican Family$133
    IdahoFarm Bureau$154
    IllinoisState Farm$115
    IllinoisAmerican Family$116
    IllinoisAllstate$130
    IllinoisTravelers$139
    IllinoisLiberty Mutual$618
    IndianaLiberty Mutual$111
    IndianaErie$116
    IndianaState Farm$119
    IndianaTravelers$125
    IndianaAllstate$153
    IndianaAmerican Family$159
    IndianaUnited Farm Family Mut Ins Co$163
    KansasLiberty Mutual$58
    KansasFarm Bureau Prop & Cas Ins Co$92
    KansasAmerican Family$108
    KansasState Farm$115
    KansasTravelers$125
    KentuckyCincinnati Ins Co$81
    KentuckyLiberty Mutual$82
    KentuckyNationwide$113
    KentuckyTravelers$125
    KentuckyState Farm$141
    KentuckyKentucky Farm Bureau$151
    LouisianaASI Lloyds$163
    LouisianaState Farm$205
    LouisianaLiberty Mutual$272
    LouisianaAllstate$280
    LouisianaLouisiana Farm Bureau $359
    MassachusettsMerrimack Mut Fire Ins Co$112
    MassachusettsState Farm$115
    MassachusettsTravelers$117
    MassachusettsArbella$131
    MassachusettsCitation Ins Co$161
    MassachusettsLiberty Mutual$394
    MarylandUSAA$101
    MarylandState Farm$143
    MarylandTravelers$188
    MarylandAllstate$203
    MarylandErie$326
    MaineConcord $61
    MainePatrons Oxford$76
    MaineAllstate$99
    MaineState Farm$115
    MaineTravelers$125
    MaineYork $188
    MichiganHome Owners $102
    MichiganMembers Select$172
    MichiganCitizens$179
    MichiganFarm Bureau $181
    MichiganState Farm$189
    MichiganAllstate$218
    MinnesotaAuto Club $69
    MinnesotaState Farm$101
    MinnesotaAmerican Family$104
    MinnesotaTravelers$125
    MissouriLiberty Mutual$89
    MissouriShelter $116
    MissouriState Farm$123
    MissouriAmerican Family$140
    MissouriTravelers$149
    MissouriAuto Club $204
    MissouriFarmers Ins Exch$239
    MississippiLiberty Mutual$130
    MississippiTravelers$138
    MississippiNationwide$199
    MississippiState Farm$202
    MississippiMississippi Farm Bureau$252
    MississippiAllstate$306
    MontanaLiberty Mutual$51
    MontanaUSAA$61
    MontanaState Farm$115
    MontanaTravelers$125
    MontanaTrinity Universal$185
    North CarolinaNorth Carolina Farm Bureau$91
    North CarolinaTravelers$106
    North CarolinaErie$109
    North CarolinaState Farm$125
    North CarolinaLiberty Mutual$133
    North CarolinaNationwide Mut Ins Co$136
    North DakotaAmerican Family$47
    North DakotaNodak Mut Ins Co$60
    North DakotaState Farm$93
    North DakotaFarmers$126
    NebraskaAmerican Family$92
    NebraskaState Farm$100
    NebraskaFarm Bureau $110
    NebraskaTravelers$125
    NebraskaFarmers$157
    New HampshireAmica$85
    New HampshireConcord $87
    New HampshireLiberty Mutual$100
    New HampshireVermont Mutual$100
    New HampshireState Farm$115
    New HampshireTravelers$125
    New JerseyChubb$97
    New JerseyAllstate$113
    New JerseyState Farm$125
    New JerseyTravelers$130
    New MexicoLiberty Mutual$72
    New MexicoUSAA$100
    New MexicoState Farm$150
    New MexicoTravelers$189
    NevadaLiberty Mutual$61
    NevadaAmerican Family$121
    NevadaTravelers$125
    NevadaState Farm$130
    NevadaUSAA$131
    New YorkNew York Central$91
    New YorkState Farm$125
    New YorkAllstate$126
    New YorkLiberty Mutual$227
    OhioCincinnati Ins Co$82
    OhioErie$83
    OhioLiberty Mutual$107
    OhioTravelers $125
    OhioState Farm$147
    OhioAmerican Family$189
    OhioNationwide$191
    OklahomaUSAA$57
    OklahomaLiberty Mutual$112
    OklahomaTravelers$128
    OklahomaShelter$155
    OklahomaState Farm$157
    OregonLiberty Mutual$63
    OregonState Farm$119
    OregonAmerican Family$119
    OregonFarmers$122
    OregonTravelers$125
    PennsylvaniaErie$71
    PennsylvaniaAllstate$113
    PennsylvaniaState Farm$118
    PennsylvaniaTravelers$126
    PennsylvaniaNationwide$266
    Rhode IslandAmica$94
    Rhode IslandLiberty Mutual$110
    Rhode IslandMetropolitan$135
    Rhode IslandAllstate$143
    Rhode IslandState Farm$148
    Rhode IslandTravelers$182
    Rhode IslandNationwide$355
    South CarolinaUSAA$107
    South CarolinaSouth Carolina Farm Bureau$136
    South CarolinaTravelers$141
    South CarolinaState Farm$143
    South CarolinaAllstate$143
    South DakotaAmerican Family$55
    South DakotaAllstate$80
    South DakotaState Farm$85
    South DakotaTravelers $125
    South DakotaFarmers$156
    South DakotaLiberty Mutual$158
    TennesseeUSAA$90
    TennesseeAuto Owners$108
    TennesseeTravelers $126
    TennesseeState Farm$160
    TennesseeLiberty Mutual$334
    TennesseeTennessee Farmers $354
    TexasLiberty Mutual $86
    TexasUSAA$110
    TexasTravelers$131
    TexasState Farm $187
    TexasAllstate$405
    UtahTravelers$66
    UtahAmerican Family$110
    UtahBear River Mut Ins Co$121
    UtahState Farm$125
    UtahFarmers$131
    VirginiaUSAA$45
    VirginiaErie$86
    VirginiaAllstate$95
    VirginiaState Farm$116
    VirginiaTravelers$125
    VirginiaFarmers $152
    VirginiaLiberty Mutual$166
    VirginiaNationwide$200
    VermontConcord$50
    VermontCo Operative Insurance$100
    VermontUnion$100
    VermontVermont Mutual$100
    VermontState Farm$115
    VermontTravelers Pr$125
    WashingtonPemco $81
    WashingtonAmerican Family$112
    WashingtonUSAA$116
    WashingtonLiberty Mutual$120
    WashingtonState Farm$125
    WashingtonTravelers$125
    WashingtonFarmers $152
    WisconsinWest Bend $82
    WisconsinAuto Owners $90
    WisconsinLiberty Mutual$98
    WisconsinAmerican Family$105
    WisconsinState Farm$115
    WisconsinTravelers$126
    West VirginiaState Farm$125
    West VirginiaErie$127
    West VirginiaAllstate$137
    West VirginiaState Farm$153
    West VirginiaLiberty Mutual$197
    West VirginiaNationwide$349
    WyomingState Farm$125

     

    For coverage of $40,000 for personal property, with a $1,000 deductible and $100,000 in liability protection, you can see how major insurers compare on price. Enter your state in the search field to see what you can expect to pay in your location.

    StateCompanyAverage annual rate
    AlaskaAllstate$108
    AlaskaState Farm$115
    AlaskaUSAA$126
    AlabamaUSAA$193
    AlabamaAlfa Mutual$215
    AlabamaTravelers$233
    AlabamaState Farm$241
    AlabamaLiberty Mutual$269
    AlabamaAllstate$284
    ArkansasTravelers$175
    ArkansasState Farm$220
    ArkansasFarmers$351
    ArkansasFarm Bureau$533
    ArizonaUSAA$67
    ArizonaTravelers$125
    ArizonaState Farm$153
    ArizonaAmerican Family$218
    CaliforniaMercury$191
    CaliforniaAllstate$200
    CaliforniaTravelers$221
    CaliforniaState Farm$245
    CaliforniaFarmers$363
    CaliforniaLiberty Mutual$390
    ColoradoUSAA$69
    ColoradoLiberty Mutual$93
    ColoradoAmerican Family$104
    ColoradoTravelers$125
    ColoradoState Farm$126
    ConnecticutTravelers$159
    ConnecticutAllstate$159
    ConnecticutState Farm$163
    ConnecticutAmica$177
    DCUSAA$64
    DCState Farm$152
    DCChubb$202
    DCTravelers$202
    DCAllstate$212
    DelawareUSAA$64
    DelawareTravelers$143
    DelawareState Farm$146
    DelawareLiberty Mutual$162
    DelawareAllstate$205
    DelawareNationwide$383
    FloridaTravelers$239
    FloridaState Farm$288
    FloridaUSAA$338
    FloridaAllstate$375
    FloridaFlorida Peninsula$397
    FloridaUniversal$482
    FloridaUnited$630
    GeorgiaUSAA$86
    GeorgiaState Farm$115
    GeorgiaTravelers$146
    GeorgiaCountry Mutual$179
    GeorgiaGeorgia Farm Bureau$238
    GeorgiaAllstate$339
    HawaiiState Farm$115
    HawaiiFirst Fire$199
    HawaiiAllstate$218
    HawaiiUSAA$264
    IowaAllied$93
    IowaState Farm$117
    IowaTravelers$127
    IowaFarm Bureau$129
    IowaAmerican Family$141
    IdahoLiberty Mutual$100
    IdahoState Farm$129
    IdahoAllstate$141
    IdahoFarmers$159
    IdahoAmerican Family$169
    IdahoFarm Bureau$197
    IllinoisState Farm$148
    IllinoisAmerican Family$155
    IllinoisAllstate$161
    IllinoisTravelers$204
    IllinoisLiberty Mutual$911
    IndianaState Farm$142
    IndianaTravelers$142
    IndianaLiberty Mutual$150
    IndianaErie$179
    IndianaAllstate$218
    IndianaAmerican Family$233
    IndianaUnited Farm Family$246
    KansasLiberty Mutual$77
    KansasTravelers$125
    KansasState Farm$132
    KansasFarm Bureau$138
    KansasAmerican Family$181
    KentuckyCincinnati$113
    KentuckyLiberty Mutual$124
    KentuckyTravelers$138
    KentuckyNationwide$184
    KentuckyState Farm$184
    KentuckyKentucky Farm$209
    LouisianaLiberty Mutual$208
    LouisianaASI Lloyds$377
    LouisianaState Farm$455
    LouisianaAllstate$542
    MassachusettsState Farm$131
    MassachusettsTravelers$190
    MassachusettsMerrimack$206
    MassachusettsArbella$227
    MassachusettsCitation$274
    MassachusettsLiberty Mutual$672
    MarylandUSAA$141
    MarylandState Farm$188
    MarylandTravelers$241
    MarylandAllstate$299
    MarylandErie$448
    MainePatrons Oxford$76
    MaineConcord$102
    MaineState Farm$116
    MaineTravelers$142
    MaineAllstate$162
    MaineYork$322
    MichiganHome Owners$127
    MichiganState Farm$248
    MichiganMembers Select$270
    MichiganFarm Bureau$273
    MichiganCitizens$280
    MichiganAllstate$319
    MinnesotaAuto Club$97
    MinnesotaState Farm$127
    MinnesotaTravelers$129
    MinnesotaAmerican Family$140
    MissouriLiberty Mutual$118
    MissouriState Farm$156
    MissouriShelter$168
    MissouriAmerican Family$196
    MissouriTravelers$211
    MissouriFarmers$298
    MissouriAuto Club$306
    MississippiTravelers$175
    MississippiLiberty Mutual$197
    MississippiState Farm$265
    MississippiNationwide$342
    MississippiAllstate$433
    MississippiMississippi Farm Bureau$446
    MontanaLiberty Mutual$73
    MontanaUSAA$82
    MontanaTravelers$125
    MontanaState Farm$131
    MontanaTrinity Universal$212
    North CarolinaNorth Carolina Farm Bureau$159
    North CarolinaErie$187
    North CarolinaTravelers$196
    North CarolinaState Farm$232
    North CarolinaLiberty Mutual$247
    North CarolinaNationwide$250
    North DakotaAmerican Family$60
    North DakotaState Farm$93
    North DakotaNodak$111
    North DakotaFarmers$174
    NebraskaAmerican Family$124
    NebraskaTravelers$125
    NebraskaState Farm$126
    NebraskaFarm Bureau$142
    NebraskaFarmers$224
    New HampshireVermont Mutual$100
    New HampshireAmica$105
    New HampshireTravelers$125
    New HampshireState Farm$126
    New HampshireLiberty Mutual$137
    New HampshireConcord$145
    New JerseyState Farm$126
    New JerseyTravelers$146
    New JerseyChubb$159
    New JerseyAllstate$178
    New MexicoLiberty Mutual$107
    New MexicoUSAA$129
    New MexicoState Farm$150
    New MexicoTravelers$259
    NevadaLiberty Mutual$87
    NevadaTravelers$125
    NevadaAmerican Family$164
    NevadaState Farm$166
    NevadaUSAA$172
    New YorkState Farm$129
    New YorkNew York Central$150
    New YorkAllstate$201
    New YorkLiberty Mutual$336
    OhioCincinnati$109
    OhioErie$113
    OhioTravelers Prop Cas Ins Co$138
    OhioLiberty Mutual$152
    OhioState Farm$191
    OhioAmerican Family$268
    OhioNationwide$287
    OklahomaUSAA$80
    OregonLiberty Mutual$93
    OregonTravelers$125
    OregonFarmers$129
    OregonState Farm$144
    OregonAmerican Family$160
    OklahomaLiberty Mutual$178
    OklahomaTravelers$192
    OklahomaState Farm$204
    OklahomaShelter Mut Ins Co$244
    PennsylvaniaErie$112
    PennsylvaniaTravelers$136
    PennsylvaniaState Farm$138
    PennsylvaniaAllstate$182
    PennsylvaniaNationwide$394
    Rhode IslandAmica$139
    Rhode IslandLiberty Mutual$163
    Rhode IslandState Farm$196
    Rhode IslandMetropolitan$224
    Rhode IslandAllstate$238
    Rhode IslandTravelers$299
    Rhode IslandNationwide$570
    South CarolinaUSAA$162
    South CarolinaState Farm$186
    South CarolinaSouth Carolina Farm Bureau$196
    South CarolinaTravelers$202
    South CarolinaAllstate$216
    South DakotaAmerican Family$75
    South DakotaState Farm$86
    South DakotaAllstate$119
    South DakotaTravelers$130
    South DakotaFarmers$223
    South DakotaLiberty Mutual$266
    TennesseeUSAA$118
    TennesseeTravelers$160
    TennesseeAuto Owners$182
    TennesseeState Farm$208
    TennesseeTennessee Farmers$354
    TennesseeLiberty Mutual$537
    TexasLiberty Mutual$131
    TexasTravelers$151
    TexasUSAA$152
    TexasState Farm$307
    TexasAllstate$809
    UtahTravelers$82
    UtahState Farm$125
    UtahAmerican Family$146
    UtahBear River$153
    UtahFarmers$167
    VirginiaUSAA$65
    VirginiaState Farm$122
    VirginiaTravelers$126
    VirginiaErie$132
    VirginiaAllstate$149
    VirginiaFarmers$202
    VirginiaLiberty Mutual$243
    VirginiaNationwide$292
    VermontConcord$64
    VermontVermont Mutual$100
    VermontState Farm$115
    VermontTravelers$125
    VermontCo Operative Insurance$132
    VermontUnion$147
    WashingtonLiberty Mutual$120
    WashingtonPemco$122
    WashingtonState Farm$125
    WashingtonTravelers$125
    WashingtonUSAA$149
    WashingtonAmerican Family$154
    WashingtonFarmers$205
    WisconsinAuto Owners$107
    WisconsinWest Bend$108
    WisconsinState Farm$122
    WisconsinAmerican Family$138
    WisconsinLiberty Mutual$144
    WisconsinTravelers$161
    West VirginiaState Farm$132
    West VirginiaErie$169
    West VirginiaState Farm$197
    West VirginiaAllstate$203
    West VirginiaLiberty Mutual$270
    West VirginiaNationwide$403
    WyomingState Farm$132

    For coverage levels of $40,000 with a $1,000 deductible and $300,000 in liability, you'll see that average renters rates are still very affordable. Enter your state in the search field to see how companies compare on price:

    StateCompanyAverage annual rate
    AlaskaState Farm$122
    AlaskaUSAA$136
    AlaskaAllstate$143
    AlabamaUSAA$209
    AlabamaAlfa Mutual$224
    AlabamaTravelers$243
    AlabamaState Farm$251
    AlabamaLiberty Mutual$279
    AlabamaAllstate$315
    ArkansasTravelers$181
    ArkansasState Farm$228
    ArkansasFarmers$361
    ArkansasFarm Bureau$533
    ArizonaUSAA$73
    ArizonaTravelers$125
    ArizonaState Farm$161
    ArizonaAmerican Family$218
    CaliforniaMercury$216
    CaliforniaTravelers Commercial Ins Co$244
    CaliforniaAllstate$247
    CaliforniaState Farm Gen Ins Co$270
    CaliforniaFarmers$388
    CaliforniaLiberty Mutual$420
    ColoradoUSAA$76
    ColoradoAmerican Family$104
    ColoradoLiberty Mutual$113
    ColoradoTravelers$125
    ColoradoState Farm$130
    ConnecticutTravelers$168
    ConnecticutState Farm$180
    ConnecticutAmica$181
    ConnecticutAllstate$194
    DCUSAA$70
    DCState Farm$162
    DCTravelers$204
    DCChubb$216
    DCAllstate$254
    DelawareUSAA$73
    DelawareTravelers$148
    DelawareState Farm$154
    DelawareLiberty Mutual$162
    DelawareAllstate$225
    DelawareNationwide$387
    FloridaTravelers$259
    FloridaState Farm$308
    FloridaUSAA$355
    FloridaAllstate$395
    FloridaFlorida Peninsula$412
    FloridaUniversal$500
    FloridaUnited$647
    GeorgiaUSAA$94
    GeorgiaState Farm$115
    GeorgiaTravelers$156
    GeorgiaCountry Mut Ins Co$190
    GeorgiaGeorgia Farm Bureau Mut Ins Co$245
    GeorgiaAllstate$359
    HawaiiState Farm$134
    HawaiiFirst Fire & Cas Ins Of HI Inc$211
    HawaiiAllstate$253
    HawaiiUSAA$281
    IowaAllied$99
    IowaState Farm$121
    IowaTravelers$130
    IowaFarm Bureau$139
    IowaAmerican Family$141
    IdahoLiberty Mutual$100
    IdahoState Farm$144
    IdahoFarmers$174
    IdahoAmerican Family$177
    IdahoAllstate$180
    IdahoFarm Bureau$236
    IllinoisAmerican Family$155
    IllinoisState Farm$158
    IllinoisAllstate$194
    IllinoisTravelers$216
    IllinoisLiberty Mutual$924
    IndianaState Farm$150
    IndianaTravelers$150
    IndianaLiberty Mutual$168
    IndianaErie$191
    IndianaAmerican Family$233
    IndianaAllstate$239
    IndianaUnited Farm$251
    KansasLiberty Mutual$97
    KansasTravelers$130
    KansasState Farm$142
    KansasFarm Bureau$143
    KansasAmerican Family$181
    KentuckyCincinnati$125
    KentuckyLiberty Mutual$144
    KentuckyTravelers$145
    KentuckyNationwide$187
    KentuckyState Farm$194
    KentuckyKentucky Farm Bureau$215
    LouisianaASI Lloyds$218
    LouisianaAllstate$427
    LouisianaLiberty Mutual$498
    LouisianaLouisiana Farm Bureau$557
    MassachusettsState Farm$148
    MassachusettsTravelers$197
    MassachusettsMerrimack$237
    MassachusettsCitation$274
    MassachusettsArbella$279
    MassachusettsLiberty Mutual$688
    MarylandUSAA$157
    MarylandState Farm$198
    MarylandTravelers$255
    MarylandAllstate$327
    MarylandErie$460
    MainePatrons Oxford$86
    MaineConcord$113
    MaineState Farm$119
    MaineTravelers$147
    MaineAllstate$182
    MaineYork Insurance$352
    MichiganHome Owners$132
    MichiganState Farm$263
    MichiganFarm Bureau$281
    MichiganMembers Select$282
    MichiganCitizens$289
    MichiganAllstate$358
    MinnesotaAuto Club$103
    MinnesotaState Farm$133
    MinnesotaTravelers$135
    MinnesotaAmerican Family$145
    MissouriLiberty Mutual$128
    MissouriState Farm$168
    MissouriShelter$183
    MissouriAmerican Family$196
    MissouriTravelers$231
    MissouriFarmers$310
    MissouriAuto Club$323
    MississippiTravelers$189
    MississippiLiberty Mutual$217
    MississippiState Farm$275
    MississippiNationwide$347
    MississippiMississippi Farm Bureau$452
    MississippiAllstate$463
    MontanaLiberty Mutual$73
    MontanaUSAA$86
    MontanaTravelers$125
    MontanaState Farm$146
    MontanaTrinity Universal$227
    North CarolinaNorth Carolina Farm Bureau$166
    North CarolinaErie$195
    North CarolinaTravelers$204
    North CarolinaState Farm$240
    North CarolinaLiberty Mutual$255
    North CarolinaNationwide$258
    North DakotaAmerican Family$60
    North DakotaState Farm$93
    North DakotaNodak$121
    North DakotaFarmers$184
    NebraskaAmerican Family$124
    NebraskaTravelers$125
    NebraskaState Farm$136
    NebraskaFarm Bureau$151
    NebraskaFarmers$228
    New HampshireVermont Mutual$100
    New HampshireAmica$113
    New HampshireTravelers$125
    New HampshireState Farm$136
    New HampshireLiberty Mutual$154
    New HampshireConcord$159
    New JerseyState Farm$131
    New JerseyTravelers$151
    New JerseyChubb$166
    New JerseyAllstate$208
    New MexicoLiberty Mutual$127
    New MexicoUSAA$134
    New MexicoState Farm$152
    New MexicoTravelers$296
    NevadaLiberty Mutual$102
    NevadaTravelers$125
    NevadaAmerican Family$164
    NevadaState Farm$181
    NevadaUSAA$188
    New YorkState Farm$132
    New YorkNew York Central$182
    New YorkAllstate$221
    New YorkLiberty Mutual$351
    OhioCincinnati Insurance$120
    OhioErie$125
    OhioTravelers$147
    OhioLiberty Mutual$175
    OhioState Farm$206
    OhioAmerican Family$273
    OhioNationwide$289
    OklahomaUSAA$85
    OklahomaTravelers$195
    OklahomaLiberty Mutual$198
    OklahomaState Farm$214
    OklahomaShelter$254
    OregonLiberty Mutual$113
    OregonTravelers$125
    OregonFarmers$144
    OregonState Farm$155
    OregonAmerican Family$160
    PennsylvaniaErie$124
    PennsylvaniaTravelers$145
    PennsylvaniaState Farm$151
    PennsylvaniaAllstate$202
    PennsylvaniaNationwide$409
    Rhode IslandAmica$140
    Rhode IslandLiberty Mutual$183
    Rhode IslandState Farm$211
    Rhode IslandMetropolitan$244
    Rhode IslandAllstate$258
    Rhode IslandTravelers$314
    Rhode IslandNationwide$584
    South CarolinaUSAA$169
    South CarolinaState Farm$196
    South CarolinaSouth Carolina Farm Bureau$202
    South CarolinaTravelers$213
    South CarolinaAllstate$251
    South DakotaAmerican Family$75
    South DakotaState Farm$96
    South DakotaTravelers$147
    South DakotaAllstate$174
    South DakotaFarmers$227
    South DakotaLiberty Mutual$275
    TennesseeUSAA$127
    TennesseeTravelers$175
    TennesseeAuto Owners$193
    TennesseeState Farm$216
    TennesseeTennessee Farmers$360
    TennesseeLiberty Mutual$547
    TexasLiberty Mutual$151
    TexasTravelers$153
    TexasUSAA$170
    TexasState Farm$322
    TexasAllstate$813
    UtahTravelers$88
    UtahState Farm$125
    UtahAmerican Family$152
    UtahBear River$178
    UtahFarmers$182
    VirginiaUSAA$70
    VirginiaState Farm$124
    VirginiaTravelers$127
    VirginiaErie$144
    VirginiaAllstate$184
    VirginiaFarmers Ins Exch$212
    VirginiaLiberty Mutual$263
    VirginiaNationwide$302
    VermontConcord$75
    VermontVermont Mutual$100
    VermontState Farm$115
    VermontTravelers$125
    VermontCo Operative Insurance$143
    VermontUnion$223
    WashingtonLiberty Mutual$120
    WashingtonTravelers$125
    WashingtonPemco$133
    WashingtonState Farm$139
    WashingtonUSAA$154
    WashingtonAmerican Family$161
    WashingtonFarmers$224
    WisconsinAuto Owners$117
    WisconsinWest Bend$123
    WisconsinState Farm$128
    WisconsinAmerican Family$144
    WisconsinLiberty Mutual$153
    WisconsinTravelers$177
    West VirginiaState Farm$142
    West VirginiaErie$181
    West VirginiaState Farm$207
    West VirginiaAllstate$223
    West VirginiaLiberty Mutual$305
    West VirginiaNationwide$406
    WyomingState Farm$142

    How much coverage do you need for renters insurance?

    Here are a few final tips to help you find a great renters insurance policy while also saving a bit of money on your premium.

    Raise your deductible: While renters insurance is a pretty affordable coverage, if you are struggling to cover your premium it's better to raise your deducible instead of dumping your policy.

    "Go with the highest deductible that you can comfortably afford and look for group discounts through employer groups, credit unions and alumni associations," advises Kristen Gryglik with Liberty Mutual.

    Replacement value or Actual cash value: Renters insurance is available in replacement value or actual cash value and one is definitely better (and more expensive) than the other.

    Replacement value policies replace your possessions with one of similar quality, regardless of age or condition. Actual cash value (ACV) policies on the other hand take depreciation into account. While actual cash value policies are cheaper, you may find yourself disappointed if you have to make a claim.

    "I definitely recommend replacement cost policies, with replacement value, if your TV is 10 years old and you have a loss you can buy a new TV, regardless if it costs more than you current TV. ACV policies only pay the value of your items at the time of the loss," explains Gryglik.

    Umbrella policies offer additional protection: Adding a personal umbrella policy will push up your liability limits at a very affordable price. Umbrella policies are usually sold in $1 million increments and for the amount of protection they offer an umbrella is a real bargain.

    These policies are great for dog owners. Dog bites can result in major medical bills and a lawsuit is always a possibility if Fido grabs ahold of a guest.

    "The most common suits I see related to renter's insurance are dog bite lawsuits. This is becoming increasingly common with more pet adoptions and pet-friendly apartments being built. Many attacks occur in apartment complex dog parks, and liability almost always falls exclusively on the dog's owner," warns Eric Ramos, a personal injury lawyer in San Antonio, Texas.

    Always choose the right personal property and liability limits: 

    The personal property section of your policy pays to replace lost, stolen or damaged items you own. Typically you can choose pay out amounts of $20,000 to $100,000. Because renters insurance is affordable, it’s recommended you get at least $40,000 but if you have a lot of valuable possessions $100,000 is best.

    In addition to protecting your possessions, a renters insurance policy also offers liability coverage. Liability covers the cost for injuries if someone trips, falls or is hurt in your apartment. It also pays for lawsuits a guest may file against you after an accident you’re at fault for.

    The amount of liability protection that’s right for you depends on the value of your personal assets but most experts recommend $300,000 liability limits.

    "The bare bones that I typically offer are $100K in personal property replacement coverage and $300K in liability," says Johnson.

    If you can afford more, get it. Liability is a very affordable coverage and can be a financial lifesaver if someone is seriously injured in your home. The cost of a lawsuit can quickly spiral out of control, putting all of your assets at risks.

    "Just because you are renting doesn't mean you don't have assets to protect, IRAs, 401Ks, and many other investment accounts could be at risk in a lawsuit against you," warns Brad Goldsberry with the Nate Bingel Agency in Northglenn, Colorado.

    Sharing a policy with a roommate: Despite the fact that most insurance companies do allow roommates to share a renters policy, most agents frown on the practice.

    "We don't recommend roommates share a policy unless they are related or engaged, says Gryglik. "If a claim is filed on the policy it will be on your claim history for three to five years, regardless of who filed the claim."

    If your roommate ends up making numerous claims on the policy you could end up paying higher premiums for renters (and other types of insurance) long after you have moved out.

    If you choose to ignore our advice and end up sharing a policy with a roommate be sure to have a serious conversation about the details of the policy, the cost and how any claims will be handled.

    Cap on valuables: Most renters insurance policies will put a maximum cap on high-value items such as artwork, wine, jewelry and other collectibles. This amount will vary between insurance companies but $1,500 is pretty typical. If you have lots of high-value property you may need a rider to be fully protected.

     

     

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