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In Allentown, renters insurance costs an average of $244 per year for $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible, which is $5 less than the statewide average of $249.
It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you rent, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.
Looking for affordable renters insurance in Allentown? We’ve compared the top companies to help you find the cheapest options.
Key Takeaways
- Renters insurance costs an average of $244 per year or $20 per month in Allentown.
- Erie Insurance has the cheapest renters insurance for Allentown renters at $10 per month.
- Taking advantage of discounts, such as having a security system or bundling renters insurance with other insurance policies, can help reduce your insurance premiums.
What is the average cost of renters insurance per month in Allentown?
On average, renters insurance costs in Allentown are $20 per month. It’s $1 less than the state average of $21. Renters in Allentown pay these rates for a coverage limit of $40,000 in personal property coverage, $1,000 deductible, and $300,000 in liability protection coverage.
Renters insurance rates can vary by city based on your insurer and the amount of coverage you choose. In Allentown, for example, renters pay around $14 per month for $20,000 in personal property coverage with a $1,000 deductible. If you increase your coverage to $40,000, the monthly premium goes up by $6.
If you own high-value items like jewelry, electronics, or designer furniture, it’s a good idea to consider higher coverage limits to make sure you’re fully protected.
How much is renters insurance in Allentown by deductible?
Renters insurance in Allentown costs $180 per year for a $500 deductible and $20,000 in personal property coverage.
Your deductible is the amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same (e.g., $20,000) but you increase your deductible limit from $500 to $1,000, you will pay $12 less every year for insurance.
Below are the renters insurance rates for different personal property coverage and deductible amounts.
| Deductible | $20,000 personal property | $40,000 personal property | $60,000 personal property |
|---|---|---|---|
| $500 | $180 | $262 | $348 |
| $1,000 | $168 | $244 | $325 |
Note: The liability protection coverage is $100,000.
Who offers cheap renters insurance in Allentown?
Your search for affordable renters insurance ends here.
Erie Insurance has the lowest rates in Allentown, with an annual premium of $114 a year or $10 per month. Based on our data, Donegal Insurance and Allstate also offer cheap rates.
Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in Allentown.
| Renter insurance provider | Average annual rate | Average per month rate |
|---|---|---|
| Erie Insurance | $114 | $10 |
| Donegal | $147 | $12 |
| Allstate | $169 | $14 |
| State Farm | $233 | $19 |
| Nationwide | $248 | $21 |
| Farmers | $312 | $26 |
| Travelers | $509 | $42 |
| USAA | $208 | $17 |
Tips for reducing the cost of renters insurance
Here are some tips to help reduce renters insurance costs in Allentown:
- Bundle insurance policies. If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Allentown.
- Increase deductible. Opting for a higher deductible can lower your premium in Allentown, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.
- Choose the right coverage. Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.
- Avoid small claims. Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.
- Shop around. Don’t settle for the first quote you receive. Compare renters insurance quotes in Allentown from multiple providers to find the best price for the coverage you need.
Renters insurance in Allentown, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.
Methodology
Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Allentown in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.
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