How much is renters insurance in Los Angeles, CA

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In Los Angeles, renters insurance costs an average of $324 per year for $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible, which is $53 more than the statewide average of $271.

It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you rent, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.

Looking for affordable renters insurance in Los Angeles? We’ve compared the top companies to help you find the cheapest options.

Key Takeaways

Renters insurance in Los Angeles costs an average of $324 per year or $27 monthly.
Mercury Insurance offers the cheapest renters in Los Angeles, with a monthly premium of $13.
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 Los Angeles?

The average monthly cost of renters insurance in Los Angeles is $27, which is $4 more than the state average of $23. This rate is for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Los Angeles pay $22 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $5.

Higher coverage limits are recommended if you own valuable items like jewelry, furniture, and electronics.

How much is renters insurance in Los Angeles by deductible?

Renters insurance in Los Angeles costs $274 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 $14 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	$274	$346	$417
$1,000	$260	$324	$388

Note: The liability protection coverage is $100,000.

Who offers affordable renters insurance in Los Angeles?

Mercury Insurance provides the cheapest rates in Los Angeles, with an annual premium of $155 or $13 per month. Auto Club Enterprises (AAA) is the second-cheapest company, followed by Farmers.

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
Mercury Insurance	$155	$13
Auto Club Enterprises (AAA)	$228	$19
Farmers	$253	$21
CSAA Insurance (AAA)	$265	$22
State Farm	$295	$25
Travelers	$300	$25
Allstate	$387	$32
Nationwide	$704	$59
USAA*	$248	$21

*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 Los Angeles:

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 Los Angeles.

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

Renters insurance in Los Angeles, 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 Los Angeles 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.