How much is renters insurance in Austin, TX

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In Austin, the average cost of renters insurance is $203 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $23 less than the state average of $226 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 Austin.

Key Takeaways

Renters insurance costs an average of $203 per year or $17 per month in Austin.
State Farm has the cheapest renters insurance for Austin renters at $14 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 Austin?

On average, renters in Austin pay $17 per month for renters insurance, which is $2 less than the state average of $19. The policy includes $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

The cost of renters insurance in Austin varies depending on your insurance company and the coverage limit you buy. Renters in Austin typically pay $12 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 $5 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 Austin by deductible?

The average cost of renters insurance in Austin is $152 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 $10 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	$152	$219	$280
$1,000	$142	$203	$259

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

Who offers cheap renters insurance in Austin?

Your search for the cheapest renters insurance company ends here.

State Farm offers the cheapest renters insurance in Austin at $169 a year or $14 per month. According to our data, Progressive ranks second on our list followed by Allstate.

Below are the average annual and monthly rates of the cheap renters insurance companies in Austin.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$169	$14
Progressive	$170	$14
Allstate	$202	$17
Nationwide	$242	$20
Texas Farm Bureau	$275	$23
Farmers	$410	$34
USAA*	$140	$12

*USAA is only available to military community members and their families.

Tips for reducing the cost of renters insurance

Here are some tips to help reduce renters insurance costs in Austin:

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 Austin.

Increase deductible. Opting for a higher deductible can lower your premium in Austin, 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 Austin from multiple providers to find the best price for the coverage you need.

Renters insurance in Austin, 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 Austin 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.