Dozens of insurers offer renters policies. Which one is right for you ? NerdWallet evaluated some of the top renters indemnity companies for fiscal military capability, relief of filing and tracking a claim, coverage options, discounts and early factors. Below are the companies that came out on top .
How we ranked the top renters insurance companies: Our star ratings are based on consumer ailment data from the National Association of Insurance Commissioners, or NAIC ; fiscal military capability grades from AM Best ; coverage and discounts available ; and the overall consumer experience. however, they don ’ t consider monetary value, which can vary widely. As we continue to evaluate more indemnity providers, this list of best renters insurance companies is probably to change.
Why you can trust NerdWallet: Our writers and editors follow rigid editorial guidelines that ensure fairness and accuracy in regulate to help you choose the fiscal products that work well for you. These ratings are specific to renters insurance – a caller ’ mho fink for other products may be unlike on our site. See our criteria for evaluating renters insurance companies .
The best renters insurance companies
here are NerdWallet ’ south picks for the best renters insurance. Click on the companies ’ names to read our reviews .
More about the best renters insurance companies
Offering renters indemnity in every department of state except Alaska and Hawaii, Amica stands out for how few consumer complaints it receives proportional to its size, according to the National Association of Insurance Commissioners. It besides has an easy-to-use web site that allows renters to get quotes, pay up bills and charge and track claims online at any time .
You can add excess coverage to a renters policy for jewelry, electronics and other valuables. You can besides sign up for refilling cost coverage, which gives you adequate money to buy raw items if your belongings are damaged or stolen, rather than simply reimbursing you for the stream ( depreciated ) respect of those lost items .
Discounts are available for people who pay their bills automatically, sign up for paperless charge, bundle car indemnity with renters policies, stay with their insurance company for at least two years, or go without filing a claim for at least three years .
» MORE: Amica renters policy review
Country Financial is a solid option if you live in one of the 19 states the caller serves. It receives far fewer consumer complaints than expected for an insurance company of its size, according to the NAIC .
For renters who want a little excess coverage, Country Financial has generous limits. It offers up to $ 1 million of liability indemnity in case you ’ ra sued, plus up to $ 25,000 in medical payments to those injured on your property. You can besides add supernumerary coverage if you have valuable items such as battle rings or musical instruments .
You can save money by bundling your renters policy with another type of Country Financial policy ( such as car ) or going at least five years without filing a claim .
» MORE: Country Financial renters policy review
In accession to the basics, such as liability and personal property coverage, Nationwide ’ randomness standard renters insurance policies include credit menu coverage and build addition/alteration coverage for no supernumerary price. That means you ’ re covered for unauthorized charges on your accredit and debit cards ( up to your policy limit ) ; if your landlord lets you make improvements to your home, those are covered as well .
countrywide offers a basic slate of discounts for people who are claim-free, have multiple Nationwide policies or have smoke detectors and early protective devices installed in their homes .
countrywide receives about the expect act of consumer complaints for a caller of its size, according to three years ’ worth of data from the NAIC .
» MORE: Nationwide renters indemnity review
Travelers puts renters first in a variety show of ways. Its user-friendly web site makes it easy to file and track claims online, learn about coverage options and get a immediate quote. Travelers besides gets fewer consumer complaints than expected for a caller of its size, according to the NAIC .
The caller offers discounts for renters who have multiple policies with Travelers or who have devices such as internal sprinkler systems or smart home engineering .
» MORE: Travelers renters policy review
Allstate is a peculiarly attractive clean for older renters : Retirees historic period 55 and up can save up to 25 % on their premium .
Allstate besides offers discounts for renters who bundle their policies or elect to have their policy payments automatically withdrawn from a bank account .
Beyond its generous discounts, Allstate is a good bet for renters thanks to its excellent mobile app. You can use it to pay bills, opinion policy documents, file a claim and contact your agent .
» MORE: Allstate renters indemnity review
With fewer consumer complaints than expected, according to the NAIC, American Family is a solid choice for renters indemnity .
The party offers a scope of discounts, including both common options ( a dismiss for having car and renters indemnity with American Family ) and alone ones ( a generational discount for renters ages 18 to 30 whose parents are besides insured with American Family ) .
One celebrated coverage option is a “ decrease deductible. ” If you add this to your policy, you ’ ll get a $ 100 credit rating toward your deductible on the first day of coverage. then your deductible will drop another $ 100 with each refilling ( up to a maximum of $ 500 ). A lower deductible means you ’ ll pay less out of pocket each time you file a claim .
» MORE: american Family renters insurance review
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Despite its list, Auto-Owners offers more than good car policy. Its renters policies can be upgraded with the Renters Plus software, which covers water backup of sewers and drains, waterbed indebtedness, and personnel casualty of refrigerated products ( for example, if your office goes out and you have to toss spoiled food ) .
You can besides upgrade to replacement cost coverage for your belongings. This means that if you have a 3-year-old laptop that ’ s stolen or damaged for a cover reason, Auto-Owners will pay out adequate for you to buy a newfangled one rather than a use one .
Auto-Owners has a generous excerpt of discounts for those who are claim-free, pay their premiums on time, opt for paperless placard, and more .
» MORE: Auto-Owners renters policy review
Pennsylvania-based Erie operates in 12 states and Washington, D.C., and draws fewer consumer complaints than expected for a company of its size, according to the NAIC .
Erie has respective bundles that you can add to your policy, offering supernumerary coverage for identity larceny recovery and damage from sewer and drain backup. In most states that Erie serves, you can besides get coverage for larceny, damage or liability claims if you ’ re renting out your distance on sites like Airbnb .
You can save on your policy if you bundle multiple insurance types with Erie, or if you get a quote at least seven days before you want coverage to begin. In some states, renters above a certain long time may besides get a discount .
» MORE: Erie renters insurance follow-up
On Farmers ’ user-friendly web site, you can easily get a quotation or find a nearby agent for more individualized military service .
In addition to industry-standard discounts for purchasing multiple policies with the ship’s company and having safety and security devices, Farmers besides offers lower rates for customers in certain professions, including doctors, nurses, teachers, police officers, firefighters and engineers .
Renters who haven ’ deoxythymidine monophosphate smoked for at least two straight years can besides save on premiums .
» MORE: Farmers renters insurance follow-up
The Hanover offers three renters insurance packages to choose from. The most economic option covers equitable the basics : your belongings, indebtedness if you cause damage to others, and expenses if you have to move out of your home during cover repairs .
With an upgrade to the Select package, you ’ ll get excess coverage for things like food lost in a exponent outage and identity theft-related expenses. This package besides includes replacement cost coverage for your belongings .
blue-ribbon Plus is The Hanover ’ s top-tier offer, with all coverage from the other two packages plus extra policy for valuable items such as jewelry or firearms. With this package, you won ’ metric ton have to pay a deductible if a major catastrophe destroys at least half of your belongings .
The Hanover ’ south renters indemnity international relations and security network ’ thyroxine available in all states .
» MORE: The Hanover renters indemnity review
The Hartford caters to older renters through its partnership with AARP ; if you ’ re not a extremity of AARP, you can still get a policy through The Hartford ’ s network of autonomous agents .
The Hartford offers a wide-eyed range of extra coverage options, including the ProtectorPLUS Zero Deductible Benefit, which is included at no extra price. This benefit waives up to $ 5,000 of your deductible if you have a stipulate claim of $ 27,500 or more. other electric potential add-ons include successor cost coverage for personal belongings, extra coverage for valuables, and identity fraud coverage .
One drawback : The Hartford has importantly more consumer complaints than expected for a company of its size, according to the NAIC .
» MORE: The Hartford renters policy review
One of America ’ south largest policy companies, State Farm offers equitable about every type of policy, including renters .
To talk through your options on the phone before purchasing a policy, you can consult with a local agent. If you ’ d rather get it all done on-line, you can get a quote, file and track a claim, give bills and more on the State Farm web site. Some tasks can be completed promptly without having to create an history .
submit Farm doesn ’ t list many coverage or savings options on its locate, but it does highlight discounts for combining renters and car policy policies, and for installing home safety devices such as burglar alarms and smoke detectors .
» MORE: State Farm renters policy review
USAA offers indemnity ( plus bank and invest products ) for active military personnel, veterans and their families .
aside from its military stress, what sets USAA apart from early renters policy companies is the fact that damage from floods and earthquakes is covered by its standard renters policy. Most other companies don ’ t offer this coverage unless you pay extra. This could provide meaning value to renters who live in regions where floods or earthquakes are a risk .
The party receives importantly fewer consumer complaints than expected for an insurance company of its size, according to the NAIC .
» MORE: USAA renters indemnity review
How to compare renters insurance
The average renters indemnity price is about $ 14 a calendar month, depending on how much coverage you have and where you live. But price shouldn ’ thyroxine be the alone gene you consider in a renters insurance comparison .
A standard renters insurance policy includes several types of coverage :
- Personal property coverage, which replaces your belongings if they’re stolen or damaged in a covered disaster.
- Liability coverage, which pays out if you’re sued and found responsible for an injury to a guest in your home or damage to someone else’s property.
- Medical payments coverage, which pays for less expensive injuries to guests in your home, regardless of fault.
- Loss of use coverage (sometimes called “additional living expenses”), which pays for hotel stays, restaurant meals or other relocation costs while your rental is being repaired after a covered disaster.
Make sure you enter the same limits for each character of coverage when shopping for renters insurance quotes in holy order to get a direct comparison .
then, take a look at each company ’ sulfur optional coverage, which you can pay excess to add to your policy. Do you need more coverage for a costly musical instrument, or would you like to add identity fraud protective covering ? Each insurance company has slightly unlike options, and some are even included in your basal agio, so it ’ mho deserving denounce around .
last, consider the company ’ second web site. Is it easy to find a phone total to chat with an agentive role if you need to ? If you prefer doing everything on-line, can you get quotes, file and racetrack claims, and give bills through the caller ’ s web site or app ? Checking out these options before buying a policy can save you some hassle subsequently .
» MORE: What is renters policy, and what does it cover ?
The best renters insurance policy for five common scenarios
Got a cad, a roommate or an engagement ring ? These scenarios can determine what character of renters policy you need .
You have a roommate
Some insurers let roommates share a renters insurance policy in states where it ’ sulfur allowed. But equitable because you can share doesn ’ t mean it ’ s a good estimate .
Before you sign a policy, have a frank discussion with your roommate about how to split indemnity payments — particularly if your roommate has a batch of stuff that could drive up the cost of the quotation. Be sure you agree, besides, on the type of renters policy coverage you ’ ll get .
» MORE: Can I share renters insurance with my roommate ?
You’re on a tight budget
To reduce the policy cost, consider increasing your deductible, which is the sum that would be subtracted from your payout if you filed a claim. But first ask yourself : How much could you pay out of pocket if your stuff were stolen or damaged ?
To discover the most low-cost options in your department of state or metro area, see NerdWallet ’ randomness Best Cheap Renters Insurance .
You would want new items if your belongings were destroyed
Lost your television receiver in a fire ? replacement cost coverage pays for a brand-new one barely like it. If this is what you want, then buy a renters insurance policy with refilling cost coverage. It typically costs a bit more than what ’ south called an “ actual cash value ” policy, but it pays to replace your possessions with like raw ones .
» MORE: How renters policy works
You own expensive jewelry or electronics
You may think all your belongings are covered up to your personal place terminus ad quem, but many renters insurance companies cap how much they ’ ll pay out for choose valuable items such as jewelry or electronics ; that crown is typically around $ 1,000 or $ 1,500 for each category. If you own multiple computers and smartphones or a costly engagement hoop, you might need extra coverage — frequently called a “ floater ” or “ scheduled coverage ” in industry parlance — to make certain those items are insured for their full value .
You have a dog
A lawsuit against you over a frump bite could ruin your finances for years. If you want coverage for this, make sure frank bites are included in the liability fortune of your renters indemnity policy and that the breed you own international relations and security network ’ thymine excluded .
» MORE: Why your dog needs indebtedness indemnity
Read more: The 7 Best Car Insurance Companies (2022)
Find the best cheap renters insurance in your state
Don ’ t see your state below ? Check back soon. We ’ rhenium adding more renters indemnity stories all the time .
» MORE: 7 tips for getting an apartment without credit
Renters insurance ratings methodology
NerdWallet’s renters insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverage options, discounts, online experience and more. Our “ease of use” category looks at factors such as website transparency and how easy it is to file a claim. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
NerdWallet ’ south renters insurance ratings honor companies for customer-first features and practices. Ratings are based on slant averages of scores in several categories, including fiscal lastingness, consumer complaints, coverage options, discounts, on-line experience and more. Our “ ease of use ” category looks at factors such as web site transparency and how easy it is to file a claim. These ratings are a usher, but we encourage you to shop around and compare several policy quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our column guidelines NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subordinate, measuring its share of total complaints relative to its size, or share of sum premiums in the diligence. To evaluate a party ’ s complaint history, NerdWallet calculated a alike index for each insurance company, weighted by market shares of each subsidiary company, over the three-year time period. Ratios are determined individually for car, home ( including renters and condominium ) and life indemnity .