9 Best Renters Insurance Companies in 2025 (Just $9/mo!)

The best renters insurance companies are Chubb, USAA, and Nationwide, offering exceptional coverage starting at $9 per month.

This article will help you understand renters insurance by explaining its importance, outlining key factors to consider when selecting a provider, and reviewing the top companies to help you make an informed choice.

Our Top 10 Picks: Best Renters Insurance Companies

Whether you’re looking for affordable premiums, extensive coverage options, or superior customer support, you’ll find valuable insights to help you make an informed decision. Check out our rental insurance guide for more information.

Don’t let expensive insurance rates hold you back. Enter your ZIP code above and shop for affordable premiums from the top companies.

Compare Renters Insurance Rates and Discounts by Provider

Looking to save on renters insurance? Many top providers offer a variety of discounts to help you get the best deal. For instance, multi-policy savings allow you to bundle renters insurance with other policies like auto or home insurance, reducing overall costs.

Additionally, some companies provide discounts for protective devices such as smoke detectors and security systems, as well as for having a new or renovated home.

Renters Insurance Monthly Rates by Deductible Amount

This guide provides a snapshot of monthly renters insurance rates based on coverage levels across various providers. Rates with a $500 deductible range from $15 with USAA to $25 with Chubb. For a $2,000 deductible, costs vary from $9 with USAA to $18 with Chubb. Compare these rates to find the best option for your needs and budget.

Top Renters Insurance Discounts by Provider & Savings

Save on renters insurance with discounts from top providers. Allstate and Geico offer multi-policy savings, while Chubb and Travelers provide extensive coverage options. Farmers and Liberty Mutual also feature discounts for protective devices and new or renovated homes. For more details, see our guide titled “Homeowners Insurance Coverage Explained.”

Nationwide and Progressive offer additional savings, and USAA provides exclusive benefits for military members. By exploring these discounts, you can tailor your renters insurance to fit both your needs and your budget. Whether you’re seeking comprehensive coverage or simply looking to save, there’s likely a discount that suits you.

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The Essentials of Renters Insurance

Renters insurance is essential for anyone renting a home. It covers personal belongings, liability, and living expenses if your home becomes uninhabitable due to theft, fire, or vandalism. For further insights, dive into our detailed guide titled “Understanding the 8 Types of Homeowners Insurance Policies.”

It also offers liability protection if someone is injured while visiting your place and covers living costs if you need to temporarily move out due to damage. Overall, renters insurance ensures you’re financially protected and provides peace of mind.

Renters insurance is essential for shielding yourself from unexpected costs, such as replacing damaged items or covering liability for injuries, and may also be required by landlords.

Factors to Consider When Choosing a Renters Insurance Company

Choosing the right renters insurance company is crucial for ensuring you receive the protection and support you need. To make an informed decision, it’s essential to evaluate several key factors that can impact your coverage and overall experience.

• Coverage Options: Review coverage types for personal belongings, liability, living expenses, and specific events like theft or natural disasters. Check if the policy offers replacement cost or actual cash value coverage and limits for high-value items. For further information, see our detailed insurance guide, “When Animals or Natural Disasters Damage Your Vehicle.”
• Customer Service: Evaluate the company’s customer service quality by reviewing online ratings and feedback, and seek out providers with responsive, reliable support, 24/7 assistance, and user-friendly mobile apps or online portals.
• Pricing and Discounts: Compare quotes from different providers to find an affordable policy while exploring discounts for bundling, safety features, non-smoking, loyalty, and full upfront payments, and consider flexible payment plans to manage expenses.
• Claims Process: Assess the ease and efficiency of the claims process by checking if the company has a streamlined system and reviewing customer feedback on claim resolutions.
• Financial Stability: Research the insurance company’s financial strength and stability, its reputation for handling claims, and check ratings from independent agencies assessing its reliability.

By carefully considering these factors—coverage options, customer service, pricing and discounts, claims process, and financial stability—you can make a well-informed choice when selecting a renters insurance company.

Taking the time to research and compare different providers will help ensure you find a policy that offers comprehensive protection and reliable support, giving you peace of mind and security in your rental home.

Navigating the Renters Insurance Application Process

Applying for renters insurance is a simple process. Start by providing basic information like your name, contact details, and rental address. You’ll also need to list your personal belongings’ value and provide details about the property, such as its construction and security features.

After submitting your application, you’ll receive a quote outlining coverage limits, pricing, and any deductibles. Review this quote carefully to ensure it meets your needs. Look for optional endorsements that can offer extra protection for specific risks. This will help you choose the best policy for your situation.

Additionally, bundling your renters insurance with other policies like auto insurance can unlock multi-policy discounts, further reducing your overall costs. In the event that you need to file a claim, act promptly by contacting your insurance company to report the incident and submit any required documentation.

For detailed information, refer to our comprehensive report titled “How to File an Auto Insurance Claim & Win It Each Time.”

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9 Best Renters Insurance Companies

We found that Chubb, USAA, and Nationwide are the best renters insurance companies, with rates from $9 per month. Check out why we chose these top providers here:

#1 – Chubb: Top Pick Overall

Pros

• Prompt Claims Processing: Chubb is known for its efficient and timely handling of renters insurance claims, ensuring quick resolution. For additional information, refer to our guide titled “Comparing Plans and Getting an Insurance Plan that Works for You.”
• High-Quality Claims Support: Known for its excellent claims handling, provides dependable support and guidance during the claims process, including for renters insurance.
• Comprehensive Claims Service: Chubb provides thorough and attentive service for renters insurance claims, addressing all aspects of your needs.

Cons

• Higher Premium Costs: The emphasis on excellent claims handling might come with higher premiums for renters insurance.
• Limited Discount Opportunities: Chubb might provide fewer discounts than other insurers, which could result in higher total costs, especially for renters insurance.

#2 – USAA: Best for the Military

Pros

• Specialized Military Coverage: USAA’s customer service is tailored to meet the specific needs of military families, enhancing their renters insurance experience.
• Top-Notch Assistance: USAA is renowned for its exceptional customer service, providing robust support for renters insurance needs. Discover more about the USAA review.
• Efficient Claims Process: With excellent customer service, USAA ensures that renters insurance claims are handled swiftly and effectively.

Cons

• Eligibility Restrictions: USAA’s renters insurance is only available to military members and their families, excluding a broader audience.
• Limited In-Person Support: USAA’s support is mainly online and by phone, which might not be ideal for those who prefer in-person interactions, and they also offer renters insurance.

#3 – Nationwide: Best for Bundling Policies

Pros

• Bundling Savings: Nationwide offers attractive discounts on renters insurance when combined with other policies, leading to lower overall costs.
• Simplified Insurance Management: Bundling policies with Nationwide makes it easier to manage your renters insurance alongside other coverage.
• Comprehensive Coverage Solutions: Bundling improves your coverage options by offering a more comprehensive approach to your insurance needs, including renters insurance.

Cons

• Dependency on Multiple Policies: To maximize bundling discounts, you need multiple Nationwide policies, including renters insurance, which may not be ideal for everyone.
• Potential for Higher Combined Costs: Bundling might cost more if the other policies, like renters insurance, have higher premiums than buying them separately.

#4 –  Liberty Mutual: Best for Earthquake Coverage

Pros

• Earthquake Policies Available: For renters in earthquake-prone areas, Liberty Mutual provides an earthquake endorsement to cover damages not included in a standard policy.
• Roommates Can Be Covered: You can add a roommate to your Liberty Mutual renters insurance. Read more in our review of Liberty Mutual.
• No Deductible for Jewelry: Liberty Mutual’s blanket jewelry coverage means you won’t pay a deductible, and you aren’t required to get an appraisal before starting the policy.

Cons

• Water Damage Not Covered: A standard renter’s policy with Liberty Mutual doesn’t cover water damage, meaning you’ll need to add coverage for an extra cost.
• Not Available Everywhere: Coverage isn’t available in Alaska, California, North Dakota, South Dakota, or Wyoming.

#5 – Progressive: Best for Digital Tools

Pros

• User-Friendly Policy Tools: Progressive website and mobile app allow users to easily pay premiums, file a claim, and make policy changes on the go.
• Available Nationwide: Progressive is available in all 50 states and Washington, D.C. Read our Progressive review for more details.
• Flexible Policy Options: Customization options with Progressive help ensure your renters insurance provides the precise coverage you need.

Cons

• Potential Complexity: The range of customizable options can make the process of selecting the right renters insurance more complicated.
• Higher Premium Possibility: Customizing your renters insurance with Progressive could lead to increased costs, depending on the coverage levels you choose.

#6 – Travelers: Best for Discounts

Pros

• Many Discounts: Discounts available for protective devices, bundling, and going claims-free for a certain period. Read our Travelers review to learn what else is offered.
• Policy Customization: Travelers offers several optional coverages to add extra protection to your renters insurance, including for valuable items, identity theft, and replacement cost value.
• Robust Digital Tools: Travelers’ user-friendly mobile app and website are convenient ways to pay your premiums, file renters insurance claims, and more.

Cons

• Higher Rates: Travelers has some of the highest starting rates for renters insurance at $17 per month.
• Slow Claims: Many customers say Travelers doesn’t handle their claim in a timely manner, as shown by their lower-than-average J.D. Power score.

#7 – Farmers: Best for Coverage Add-ons

Pros

• Tailored Coverage Options: Farmers provides highly personalized service, helping you craft a renters insurance policy that meets your specific needs. For a complete list, read our Farmers review.
• Various Discounts: Renters can save with Farmers’ discounts for bundling, paperless billing, and going claims-free for a certain period.
• Dedicated Insurance Advisors: With Farmers, you receive individualized advice from dedicated agents, ensuring your renters insurance is well-suited to your situation.

Cons

• Potentially Higher Premiums: The personalized approach may come with higher premiums compared to more generic renters insurance options.
• Less Emphasis on Online Tools: Farmers’ focus on personalized service may result in fewer online management tools for renters insurance.

#8 – Allstate: Best for Nationwide Coverage

Pros

• Available in All States: Allstate renters insurance coverage is available in all 50 states and Washington, D.C.
• User-Friendly Tools: Has an easy-to-use website and mobile app for simple policy management. Read more in our Allstate insurance review.
• Many Discount Options: Allstate offers various discounts to lower renters insurance rates, including for bundling and automatic payments.

Cons

• Low Claims Satisfaction: Allstate’s customer satisfaction score from J.D. Power is lower than average compared to competitors.
• Not the Cheapest: Other trusted providers have lower renters insurance premiums than Allstate.

#9 – State Farm: Best for Low Premiums

Pros

• Cheapest for Most: State Farm offers the lowest renters insurance rates for those who aren’t eligible for USAA.
• Local Agents: With local agents available, you can get quick and direct assistance for any renters insurance-related issues. Learn more in our State Farm review.
• Many Coverages: State Farm provides many endorsements for renters to enhance their policy’s protection.

Cons

• No Roommate Coverage: Unlike other providers, State Farm won’t cover your roommate on your renters insurance policy.
• Not in All States: State Farm renters insurance is unavailable in certain states.

Essential Guide to Choosing the Best Renters Insurance

This guide provides a detailed overview of renters insurance, highlighting top providers like Chubb, USAA, and Nationwide, which offer coverage starting at $9 a month.

It explains the importance of renters insurance, which protects personal belongings, liability, and living expenses if your rental becomes uninhabitable. Read our Geico vs. Allstate review to learn more.

The article covers how to compare rates and discounts from various companies, factors to consider when choosing a provider, and tips for maximizing your policy’s benefits. It also includes advice on the application process, filing claims, and dealing with claim denials.

Comparing quotes is integral to finding the best rates possible. Enter your ZIP code below into our free tool today to see what quotes might look like for you.

Enter your zip code below to view companies that have cheap insurance rates.

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