Compare Renters Insurance Quotes
Get the best deal by comparing rates.
Protect your stuff from the unexpected.
Renters insurance covers your possessions, assets, and liability. Best of all, policies are affordable and simple.
Cheapest renters insurance companies
We gathered online quotes from six different insurers. Nationwide has the cheapest average renters insurance rate of the companies we surveyed. Your rates will most likely differ from the quotes below depending on your location, coverage amount and other factors.
| Company | Average annual premium |
|---|---|
| Allstate | $232 |
| Amica | $205 |
| Farmers | $265 |
| Nationwide | $195 |
| State Farm | $199 |
| Travelers | $205 |
| Note: Average rates are based on online quotes from provider websites. Your rates may vary. | |
We've got you covered — here's what else you should know
How renters insurance works
Your landlord's insurance policy doesn't cover any of your personal property. To protect your belongings, you must purchase a renters insurance policy. Renters insurance also covers legal costs if someone gets hurt in your rental unit and sues you. Renters insurance isn’t required by law, but landlords may require that you have it as part of a lease agreement.
To get the most accurate renters insurance quote, you may have to provide information about yourself, your rental and how much coverage you need.
How to compare renters insurance companies
Comparing renters insurance quotes from different companies can help you get the best rates and coverage. You don’t need to be a first-time renter to compare rates. Here's how some of the top companies compare.
| Company | Overall customer satisfaction (out of 1,000) |
|---|---|
| USAA | 893 |
| Lemonade | 870 |
| State Farm | 866 |
| American Family | 838 |
| Nationwide | 834 |
| Allstate | 833 |
| Farmers | 831 |
| Liberty Mutual | 823 |
| ASI Progressive | 816 |
| Travelers | 815 |
| Source: 2021 J.D. Power Home Insurance Study | |
QuoteWizard can connect you with licensed insurance agents who will get rates on your behalf — so you can get the best deal.
How to compare renters insurance quotes
Renters insurance companies determine your quote using many factors. The price in the quote you receive is the result of multiple coverage limits and policy details. That means you should consider more than the final price on the quote. For instance, one company may have higher monthly premiums, but you may also get more coverage for the price.
One way to compare renters insurance quotes is to get several quotes from individual agents or companies in person, over the phone or online, and then compare them. This can take a lot of time, and it can also be confusing.
| Coverage | What it covers |
|---|---|
Personal property |
Covers the cost to repair or replace your belongings up to a specific limit due to certain perils. |
Liability |
Covers the cost if a guest is injured in your rental, or if you accidentally damage someone else’s property. This includes legal expenses as well. |
Medical payments to others |
Covers medical costs if a guest is injured in your rental. |
Loss of use |
Covers extra living expenses if you have to relocate due to damages that are being repaired due to a covered event. |
Renters insurance policies are usually standardized, which means that coverages are similar between companies. However, premiums, coverage limits, discounts and customer service can vary between companies.
Another factor to consider when comparing quotes is whether your renters insurance will cover your belongings at actual cash value or replacement cost. Replacement cost insurance policies reimburse you for your belongings based on how much money is needed to replace the item with a new one. Actual cash value insurance policies reimburse you based on the value of the item at the time of loss, factoring in depreciation. This means ACV policies can leave you with out-of-pocket costs.
Compare rates from the top insurers in the U.S., all in one place
Average renters insurance premiums by state
The average cost of renters insurance in the U.S. is $219 a year, according to our comprehensive study. Average renters insurance rates are different in each state. Your claims history, the amount of coverage you choose and your building’s construction are all factors that may affect how much you pay for renters insurance. The table below can help you estimate how much your neighbors pay.
| State | Average annual premium | Average monthly premium |
|---|---|---|
| Alabama | $334 | $28 |
| Alaska | $125 | $10 |
| Arizona | $238 | $20 |
| Arkansas | $294 | $25 |
| California | $222 | $19 |
| Colorado | $181 | $15 |
| Connecticut | $208 | $17 |
| Delaware | $230 | $19 |
| Florida | $278 | $23 |
| Georgia | $346 | $29 |
| Hawaii | $199 | $17 |
| Idaho | $176 | $15 |
| Illinois | $191 | $16 |
| Indiana | $216 | $18 |
| Iowa | $164 | $14 |
| Kansas | $218 | $18 |
| Kentucky | $246 | $21 |
| Louisiana | $320 | $27 |
| Maine | $154 | $13 |
| Maryland | $204 | $17 |
| Massachusetts | $197 | $16 |
| Michigan | $345 | $29 |
| Minnesota | $195 | $16 |
| Mississippi | $374 | $31 |
| Missouri | $264 | $22 |
| Montana | $163 | $14 |
| Nebraska | $175 | $15 |
| Nevada | $241 | $20 |
| New Hampshire | $138 | $12 |
| New Jersey | $179 | $15 |
| New Mexico | $245 | $20 |
| New York | $160 | $13 |
| North Carolina | $207 | $17 |
| North Dakota | $163 | $14 |
| Ohio | $236 | $20 |
| Oklahoma | $348 | $29 |
| Oregon | $177 | $15 |
| Pennsylvania | $195 | $16 |
| Rhode Island | $247 | $21 |
| South Carolina | $204 | $17 |
| South Dakota | $140 | $12 |
| Tennessee | $277 | $23 |
| Texas | $230 | $19 |
| Utah | $158 | $13 |
| Vermont | $156 | $13 |
| Virginia | $209 | $17 |
| Washington | $179 | $15 |
| West Virginia | $218 | $18 |
| Wisconsin | $163 | $14 |
| Wyoming | $179 | $15 |
| Note: Average rates are based on online quotes from provider websites. Your rates may vary. | ||
Cheapest states for renters insurance
- Alaska: $125
- New Hampshire: $138
- South Dakota: $140
- Maine: $154
- Vermont: $156
Most expensive states for renters insurance
- Mississippi: $374
- Oklahoma: $348
- Georgia: $346
- Michigan: $345
- Alabama: $334
See how much you can save when companies compete for your business.
Renters insurance situations
If you have a roommate or you're a college student, your renters insurance policy may differ from a typical policy.
If you live in a dorm or on-campus student housing, you might not need renters insurance. You may be covered by your parents' homeowners insurance policy. We recommend purchasing renters insurance if your parents’ policy doesn’t cover your personal belongings and rental.
If you have a roommate, then you may be able to purchase a renters insurance policy together, but we recommend that each person purchases their own policy due to complications that may arise with claims.
Frequently asked questions
Q: What is renters insurance?
A: Renters insurance protects your personal belongings and yourself if someone is injured in your rental or if you are sued for damages.
Q: How do I compare renters insurance quotes?
A: When you compare renters insurance quotes, look at prices, coverages, customer service ratings and more.
Q: What does renters insurance cover?
A: Renters insurance covers personal property, liability, medical payments to others and extra living expenses if you have to relocate due to damages from a covered event.
Understand Renters Insurance
-
Renters Insurance Basics
Learn about the fundamentals of a renters insurance policy, from coverage to cost.
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What Renters Insurance Doesn't Cover
Don't assume everything is covered. A renters policy comes with many exclusions.
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Replacement Cost vs Actual Cash Value
Learn how your insurance company calculates the value of your belongings.
Why QuoteWizard
- With our service, renters insurance agents compete for your business so you get the best deal.
- We are not affiliated with any renters insurance company.
- We’ve been doing this since 2006 and have connected over 50 million people to better rates.
- We are successful because we care about creating a great experience.
Methodology
We collected online quotes from thousands of addresses in the U.S. We used the following coverages:
- $30,000 of personal property coverage
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
- Loss of use: 30% (Farmers Insurance: 20%)
We used quotes from the following insurance companies: Allstate, Farmers, Travelers, Nationwide, Amica, and GEICO (used for Florida quotes only).