How much is renters insurance in San Francisco, CA

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In San Francisco, the average cost of renters insurance is $316 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $45 more than the state average of $271 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 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 insurance company and the coverage limit you buy. 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 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 San Francisco by deductible?

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

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

Who offers affordable renters insurance in San Francisco?

Mercury Insurance provides the cheapest rates in San Francisco, with an annual premium of $155 or $13 per month. Farmers is the second-cheapest company, followed by CSAA Insurance (AAA).

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
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 the cost of renters insurance

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.

Renters insurance in San Francisco, 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 San Francisco 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.