How much is renters insurance in Austin, TX

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Renters insurance in Austin, costs $203 per year for $40,000 in personal property, $300,000 in liability and a $1,000 deductible, which is $23 less than the state average of $226 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 Austin.

Key Takeaways

Renters insurance in Austin costs an average of $203 per year or $17 monthly.
State Farm offers the cheapest renters in Austin, with a monthly premium of $14.
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 Austin?

On average, renters insurance costs in Austin are $17 per month. It’s $2 less than the state average of $19. Renters in Austin 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 Austin, for example, renters pay around $12 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 $5.

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 Austin by deductible?

Renters insurance in Austin costs $152 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 $10 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	$152	$219	$280
$1,000	$142	$203	$259

Note: The liability protection coverage is $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.

How much is renters insurance in other cities?

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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.