How much is renters insurance in Arvada, CO

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In Arvada, CO, the average cost of renters insurance is $187 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $4 less than the state average of $191 per year.

Renters insurance costs may differ depending on the coverage you opt for and the amount of liability coverage included in your policy. If you’re living in a rental property, it’s worth considering this type of insurance to protect your belongings from damages caused by fire, smoke, theft, vandalism and other covered events.

We conducted an in-depth analysis of insurance companies to find the most affordable insurers for renters in Arvada. Continue reading to know the cheapest renters insurance companies in Arvada.

Key Takeaways

The average cost of renters insurance in Arvada is $187 annually or $16 monthly.
The cheapest option for renters in Arvada is State Farm, offering coverage at $13 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as discounts for installing a security system or bundling policies.

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

On average, the cost of renters insurance in Arvada is $16 a month. It’s equals to the state average of $16. Renters in Arvada pay these rates for the coverage limit of $40,000 in personal property coverage, $1,000 deductible and $300,000 in liability protection coverage.

The renters insurance rates vary by city depending on your insurance provider and the coverage limits you choose. For example, renters in Arvada pay $12 per month for personal property coverage of $20,000 and a $1,000 deductible. However, if you decide to increase the personal property coverage limit to $40,000, you will pay $4 more for renters insurance.

Now, you’ll have to decide how much coverage you need and how much you can afford. However, it is recommended that you choose higher coverage limits if your personal belongings consist of expensive jewelry, furniture and electronics.

How much is renters insurance in Arvada by deductible?

The average cost of renters insurance in Arvada is $161 annually for a $500 deductible and $20,000 in personal property coverage

The deductible is the amount you 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 $18 every year on your insurance.

Here are the renters insurance premiums for different personal property coverage and deductible amounts.

Deductible	$20000 personal property	$40000 personal property	$60000 personal property
$500	$161	$211	$259
$1,000	$143	$187	$227

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Arvada?

Your quest for the cheapest renters insurance ends here.

State Farm provides the cheapest rates in Arvada, with an annual premium of $159 or $13 per month. Allstate is the second cheapest company, followed by Chubb Ltd.

Insure.com’s experts have compared renters insurance quotes from all the national and regional carriers in Arvada to create a list of the most affordable insurers. 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	$159	$13
Allstate	$191	$16
Chubb Ltd	$193	$16
Farmers	$212	$18
American Family	$291	$24
USAA	$152	$13

Tips for lowering the cost of renters insurance

Follow these tips to reduce the cost of your renters insurance in Arvada:

Bundle policies: If you have other insurance policies, such as car insurance, consider bundling them with the same company. Many insurers in Arvada provide discounts for bundled policies.

Increase your deductible: Opting for a higher deductible can lower your premium in Arvada, but make sure you’re comfortable with the potential out-of-pocket costs if you file a claim.

Choose the right coverage amount: Review your renters insurance policy regularly to ensure you aren’t paying for unnecessary coverage, such as excess personal property coverage if you don’t own many valuables.

Avoid filing too many claims: Filing frequent small claims can increase your rates. It might be worth paying for minor damages out-of-pocket instead of using your insurance.

Compare quotes: Don’t accept the first quote you get. Shop around and compare renters insurance rates from different insurers in Arvada to find the best deal.

Final thoughts

Renters in Arvada, CO 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 Arvada for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 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.