Average renters insurance cost in Grand Island, NE

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Renters insurance in Grand Island, costs $276 per year for $40,000 in personal property, $300,000 in liability and a $1,000 deductible, which is $5 less than the state average of $281 annually.

Your renters insurance premium could be higher or lower depending on the coverage and liability limits you select. Purchasing renters insurance is a good idea, as it helps protect your personal property from damage or loss due to events like fire, smoke, theft and vandalism.

Want to know who has the most affordable rates? Here are the most affordable renters insurance companies in Grand Island.

Key Takeaways

The average cost of renters insurance in Grand Island is $276 annually or $23 monthly.
The cheapest option for renters in Grand Island is State Farm, offering coverage at $12 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as installing a security system or bundling policies.

What is the average cost of renters insurance per month in Grand Island?

On average, renters insurance costs in Grand Island are $23 per month. It’s equals to the state average of $23. Renters in Grand Island 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 Grand Island, for example, renters pay around $16 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 $7.

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 Grand Island by deductible?

The average cost of renters insurance in Grand Island is $220 annually for a $500 deductible and $20,000 in personal property coverage

Your deductible is the amount you must pay out of pocket before your insurance kicks in. If you raise your deductible, your premiums will decrease. For example, if you maintain $20,000 in personal property coverage but increase your deductible from $500 to $1,000, you’ll save $25 annually on your insurance.

Below, you’ll find average renters insurance premiums for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$220	$312	$411
$1,000	$195	$276	$365

Note: Liability coverage is set at $100,000.

Who offers affordable renters insurance in Grand Island?

State Farm provides the cheapest rates in Grand Island, with an annual premium of $146 or $12 per month. Iowa Farm Bureau is the second-cheapest company, followed by Nationwide.

Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$146	$12
Iowa Farm Bureau	$168	$14
Nationwide	$209	$17
Farmers Mutual of Nebraska	$231	$19
American Family	$240	$20
Farmers	$344	$29
Travelers	$596	$50
USAA	$140	$12

Tips for reducing the cost of renters insurance

Below are some tips to help you save on renters insurance in Grand Island:

Bundle policies. If you have other policies through the same insurer, such as car insurance, bundling it with the same provider can often earn you a discount. Many insurers in Grand Island offer savings for bundling policies.

Increase your deductible. Choosing a higher deductible can lower your premium, but ensure you’re prepared to cover the higher out-of-pocket costs if you need to file a claim.

Choose the right coverage amount. Regularly review your renters insurance to avoid paying for more coverage than you need. For example, you might opt for lower personal property coverage if you don’t own high-value items.

Limit small claims. Filing multiple small claims can drive up your rates. Consider paying for minor damages yourself to keep your premium low.

Shop around for quotes. Don’t settle for the first offer. Compare renters insurance rates from multiple providers in Grand Island to find the best coverage at the lowest price.

Renters in Grand Island should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Grand Island 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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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.