How much is renters insurance in San Francisco, CA

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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.

After carefully evaluating renters insurance companies, we’ve compiled a list of the most affordable insurers for San Francisco renters. Keep reading to learn which insurers offer the lowest rates in San Francisco

Key Takeaways

Renters insurance in San Francisco costs an average of $316 per year or $26 monthly.
Mercury Insurance offers the cheapest renters in San Francisco, 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 San Francisco?

On average, renters in San Francisco pay $26 per month for renters insurance, which is $3 more than the state average of $23. The policy includes $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

The cost of renters insurance in San Francisco varies depending on your carrier and the coverage limit you select. Renters in San Francisco typically pay $22 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 more in your monthly premium.

You’ll need to decide on the coverage that best fits your needs and budget. However, choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.

How much is renters insurance in San Francisco by deductible?

Renters insurance in San Francisco costs an average of $273 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 $13 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	$273	$336	$396
$1,000	$260	$316	$371

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in San Francisco?

Your search for affordable renters insurance ends here.

Mercury Insurance has the lowest rates in San Francisco, with an annual premium of $155 a year or $13 per month. Based on our data, Farmers and CSAA Insurance (AAA) also offer cheap rates.

After evaluating renters insurance quotes from all the national and regional insurance companies in San Francisco, the experts at Insure.com put together a list of the most affordable insurance carriers.

Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in San Francisco, CA.

Renter insurance provider	Average annual rate	Average per month rate
Mercury Insurance	$155	$13
Farmers	$207	$17
CSAA Insurance (AAA)	$220	$18
Auto Club Enterprises (AAA)	$229	$19
State Farm	$229	$19
Travelers	$274	$23
Allstate	$309	$26
Nationwide	$728	$61
USAA	$285	$24

Tips for reducing renters insurance cost

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

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 San Francisco.

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

Final thoughts

Renters in San Francisco, CA 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 San Francisco 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.