Renters Insurance in New York City

State Farm has the cheapest rates for renters insurance in New York City. We'll help find your best combo of cost and coverage.

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While New York City law doesn't require you to have renters insurance, your landlord will probably require it. A standard renters insurance property covers your belongings, liability and loss of use.

While rates for renters insurance in New York City are lower than the national average, it's in your best interest to find the best coverage at the lowest price. We put together this guide to help with that.

In this article

How much does renters insurance cost in New York City?

The average cost of renters insurance in New York City is $199 a year. This is 9% cheaper than the national average renters insurance rate of $214 a year. State Farm has the cheapest rate in New York City at $125 a year. Farmers is next at $152 a year.

Company Annual rate Monthly rate
State Farm $125 $10
Farmers $152 $13
Travelers $172 $14
Allstate $266 $22
Amica $280 $23
Note: Average rates are based on online quotes from provider websites. Your rates may vary.

Renters insurance companies in New York City

A basic renters insurance policy is usually the same from provider to provider. A good way to sort out which one is best for you is to look at customer satisfaction trends. We've compared renters insurance companies by their J.D. Power overall satisfaction scores and their NAIC complaint indexes.

J.D. Power is a data analytics and consumer intelligence company that publishes an annual report that focuses on the overall satisfaction that policyholders have with their insurance providers. This report is based on factors including policy offerings, cost and claim resolution. Insurers are ranked on a scale of one to 1,000, with 841 being the current average score.

The higher the ranking, the higher the overall satisfaction. Of the New York City renters insurance providers we looked at, Allstate has the highest overall satisfaction rating of 837. While lower than the average ranking, this score is quite good considering the size of the company.

The NAIC Complaint Index reflects the number of complaints an insurance company receives relative to its size. The complaint index average is 1%. The lower the index, the better. As of 2022, State Farm has the lowest index at 0.08%

Company 2022 J.D. Power overall satisfaction (out of 1,000) 2021 NAIC Complaint Index (lower is better)
Allstate 837 0.5%
Amica - 0.1%
Farmers 831 0.4%
State Farm 836 0.08%
Travelers 801 -
Sources: J.D. Power 2022 Home Insurance Study and NAIC Complaint Index

What does renters insurance cover?

A renters insurance policy covers your belongings against damage or destruction, liability if someone is injured in your unit, property damage you may cause, or if you have to relocate while your rental home is repaired.

Personal property

The personal property coverage portion of your renters insurance covers your stuff against damage or destruction. Covered items include:

  • Clothing
  • Furniture
  • Electronics

Valuables such as art or jewelry may be covered at different limits from the rest of your policy. When purchasing a renters insurance policy, make sure to be clear about any separate limits.

In order to make sure you don't get too little or too much personal property coverage, take the time to make a home inventory list. This list should include descriptions of your belongings, as well as any serial numbers and the purchase cost of the items. This is the most effective way to make sure you have the right amount of coverage. Also, it may help speed up the process if you have to file a renters insurance claim.

Personal liability

If you are responsible for someone getting injured in your rental home and it goes to court, the personal liability section of your renters insurance covers your legal fees and settlement costs.

The default personal liability limit on most renters insurance policies is $100,000, but you can usually increase it.

Medical payments

Medical payments coverage takes care of medical expenses if you're responsible for another person's injuries. Medical payments coverage usually has limits from $1,000 to $5,000.

Additional living expenses (ALE)

Also known as loss of use (LOU), additional living expenses covers extra costs that can occur if you need to relocate somewhere else while covered damages to your rental home are repaired. ALE coverage usually includes:

  • Rent
  • Meals
  • Extra transportation costs
  • Storage
  • Furniture rental
  • Laundry

ALE coverage usually has a default limit of around $3,000. This may not seem like a lot, but it's only supposed to cover expenses beyond your regular cost of living. For example, if your regular commute costs were $80 a month, and they go up to $90 a month due to having to relocate farther away from work, the extra $10 would be covered.

How to get renters insurance in New York City

New York City law doesn't require renters to carry renters insurance, but it's usually a requirement in a lease agreement. To find the best price and coverage options, compare quotes from multiple renters insurance companies. Once you've narrowed down a few that are within your budget and coverage needs, compare their customer satisfaction records.

When you've settled on the best provider, go online to its website. Make sure to have your personal info, personal property coverage amount and any limit changes you need to make readily available. If you have any questions, don't hesitate to call the insurance company and talk to an agent. They can also get your policy set up afterwards. You will be able to choose the date you want your coverage to start.


We compiled renters insurance quotes from the following companies in New York City:

  • Allstate
  • Amica
  • Farmers
  • State Farm
  • Travelers

Quotes were pulled using the following policy limits:

  • $30,000 of personal property coverage
  • Loss of use: 30%
  • $500 deductible
  • $100,000 of personal liability
  • $1,000 of medical payments to guests LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.