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In Appleton, the average cost of renters insurance is $254 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $39 less than the state average of $293 per year.
Renters insurance costs can vary based on the coverage you choose and the amount of liability protection included in your policy. If you’re living in a rental, it’s a smart way to protect your personal belongings from things like fire, smoke, theft, vandalism, and other covered incidents.
Let’s take a look at the cheapest renters insurance options in Appleton.
Key Takeaways
- Renters insurance in Appleton costs an average of $254 per year or $21 monthly.
- State Farm offers the cheapest renters in Appleton, with a monthly premium of $10.
- Renters can save more on insurance by taking advantage of discounts, including those for having a security system or bundling policies.
What is the average cost of renters insurance per month in Appleton?
On average, renters in Appleton pay $21 per month for renters insurance, which is $3 less than the state average of $24. The policy includes $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.
The cost of renters insurance in Appleton varies depending on your insurance company and the coverage limit you buy. Renters in Appleton typically pay $17 monthly for $20,000 in personal property coverage and a $1,000 deductible. If you decide to increase your coverage to $40,000, you’ll see an increase of $4 in your monthly premium.
Choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.
How much is renters insurance in Appleton by deductible?
Renters insurance in Appleton costs an average of $215 per year for a $500 deductible and $20,000 in personal property coverage.
The deductible is the amount you pay before your insurance coverage applies. By increasing your deductible, you can lower your insurance premium. For instance, raising your deductible from $500 to $1,000 will save you $9 annually.
The table below shows renters insurance premiums for varying personal property coverage and deductible amounts.
| Deductible | $20,000 personal property | $40,000 personal property | $60,000 personal property |
|---|---|---|---|
| $500 | $215 | $269 | $328 |
| $1,000 | $206 | $254 | $309 |
Note: The liability protection coverage is $100,000.
Who offers cheap renters insurance in Appleton?
Your search for the cheapest renters insurance company ends here.
State Farm offers the cheapest renters insurance in Appleton at $125 a year or $10 per month. According to our data, Travelers ranks second on our list followed by NYCM Insurance.
Below are the average annual and monthly rates of the cheap renters insurance companies in Appleton.
| Renter insurance provider | Average annual rate | Average per month rate |
|---|---|---|
| State Farm | $125 | $10 |
| Travelers | $137 | $11 |
| NYCM Insurance | $163 | $14 |
| Allstate | $169 | $14 |
| American Family | $169 | $14 |
| Nationwide | $209 | $17 |
| Chubb Ltd | $284 | $24 |
| Farmers | $359 | $30 |
| AIG | $1,039 | $87 |
| USAA | $199 | $17 |
Tips for reducing the cost of renters insurance
Below are some tips to help you save on renters insurance in Appleton:
- 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 Appleton 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 Appleton to find the best coverage at the lowest price.
Renters in Appleton 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 Appleton 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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