Finding the right renters insurance means balancing cost, customer service and coverage options that match your needs. We evaluated major insurers across the country based on affordability, customer satisfaction scores and policy features, ranking Amica, State Farm, Lemonade, Allstate and Nationwide as the top performers. The table below and each provider’s premium summary use the same base profile: a renter with good credit, $20,000 in personal property coverage, $100,000 in liability coverage, a $1,000 deductible and no claims in the past five years. Annual and monthly premiums are each rounded to the nearest dollar, so a monthly figure may not equal the annual figure divided by 12.
Best Renters Insurance Companies (2026)
Updated: October 15, 2026
Advertising & Editorial Disclosure
Key Takeaways: Finding the Best Renters Insurance
Amica is our top-ranked renters insurance company, earning a MoneyGeek Score of 4.8 out of 5 on the strength of the lowest average rate and the highest customer experience score we measured.
Amica is also the most affordable renters insurance provider in our study, with average annual rates of $116. Lemonade ($135) and State Farm ($145) are the next most affordable of our top five, about 27% and 22% below the $185 national average.
Compare at least three quotes before you buy. For the same coverage, average annual premiums among the ten insurers we scored run from $116 (Amica) to $186 (Nationwide), about a $70 difference.
Top 5 Renters Insurance Companies in 2026
Amica | 4.8 | Best Overall | $116 |
State Farm | 4.7 | Best Customer Experience | $145 |
Lemonade | 4.7 | Best Online Experience | $135 |
Allstate | 4.5 | Best Discounts | $178 |
Nationwide | 4.5 | Best Specialized Coverage Options | $186 |
Top Renters Insurance Provider Reviews
Amica
Best Overall
MoneyGeek Rating
4.8/ 5
4.8/5Affordability
5/5Customer Experience
4.2/5Coverage
Average Annual Premium
$116Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $1,000 deductible.Average Monthly Premium
$10Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $500 deductible.J.D. Power Customer Satisfaction Score
689/1,000From the J.D. Power 2026 U.S. Home Insurance Study, based on responses from 17,191 homeowners and renters. The average renters insurance score is 682/1,000.
State Farm
Best Customer Experience
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.9/5Customer Experience
4/5Coverage
Average Annual Premium
$145Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $1,000 deductible.Average Monthly Premium
$12Based on our methodology's base profile of a policy with $20K in personal property coverage and $20K in liability coverage with a $500 deductible.J.D. Power Customer Satisfaction Score
702/1,000From the J.D. Power 2025 U.S. Home Insurance Study, which examines customer satisfaction based on responses from 14,511 homeowners and renters. The average renters insurance score is 668/1,000.
Lemonade
Best Online Experience
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.7/5Customer Experience
4.4/5Coverage
On Lemonade's site
Average Annual Premium
$135Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $500 deductible.Average Monthly Premium
$11Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $500 deductible.J.D. Power Customer Satisfaction Score
674/1,000From the J.D. Power 2025 U.S. Home Insurance Study, which examines customer satisfaction based on responses from 14,511 homeowners and renters. The average renters insurance score is 668/1,000.
Allstate
Best Discounts
MoneyGeek Rating
4.5/ 5
4.6/5Affordability
4.8/5Customer Experience
3.3/5Coverage
Average Annual Premium
$178Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $500 deductible.Average Monthly Premium
$15Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $500 deductible.J.D. Power Customer Satisfaction Score
667/1,000From the J.D. Power 2025 U.S. Home Insurance Study, which examines customer satisfaction based on responses from 14,511 homeowners and renters. The average renters insurance score is 667/1,000.
Nationwide
Best Specialized Coverage Options
MoneyGeek Rating
4.5/ 5
4.5/5Affordability
4.7/5Customer Experience
3.6/5Coverage
Annual Average Premium
$186Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $1,000 deductible.Monthly Average Premium
$16Based on our methodology's base profile of a policy with $20K in personal property coverage and $100K in liability coverage with a $1,000 deductible.J.D. Power Customer Satisfaction Score
678/1,000From the J.D. Power 2025 U.S. Home Insurance Study, which examines customer satisfaction based on responses from 14,511 homeowners and renters. The average renters insurance score is 678/1,000.
Other Renters Insurance Company Reviews
We evaluated these renters insurance companies to help you match coverage, price and service to your needs.
Best Renters Insurance Provider by State
State Farm ranks as the best renters insurance provider in 22 states based on our analysis of affordability, customer satisfaction and coverage options. Lemonade leads in 11 states, while Amica, Erie Insurance, Chubb and Auto-Owners each earn top rankings in multiple states. The table below shows the highest-rated renters insurance provider in each state with their average annual premiums for $20,000 in personal property coverage, helping you identify the best starting point for quotes based on your location.
State Farm | $101 | |
Cincinnati Insurance | $120 | |
State Farm | $147 | |
Lemonade | $81 | |
Lemonade | $111 | |
State Farm | $86 | |
Amica | $100 | |
Washington, D.C. | Lemonade | $74 |
State Farm | $88 | |
State Farm | $148 | |
The Hanover | $147 | |
State Farm | $104 | |
State Farm | $87 | |
State Farm | $86 | |
Erie Insurance | $145 | |
Lemonade | $94 | |
State Farm | $99 | |
State Farm | $113 | |
The Hanover | $150 | |
Amica | $129 | |
Erie Insurance | $148 | |
State Farm | $80 | |
Auto-Owners Insurance | $34 | |
Chubb | $79 | |
State Farm | $112 | |
State Farm | $269 | |
State Farm | $88 | |
State Farm | $104 | |
Farm Bureau | $66 | |
State Farm | $76 | |
Amica | $70 | |
Lemonade | $66 | |
State Farm | $92 | |
Lemonade | $99 | |
Lemonade | $64 | |
Erie Insurance | $150 | |
Chubb | $183 | |
Lemonade | $75 | |
Chubb | $113 | |
Amica | $98 | |
Auto-Owners Insurance | $115 | |
State Farm | $77 | |
Erie Insurance | $179 | |
Lemonade | $111 | |
State Farm | $96 | |
Erie Insurance | $139 | |
State Farm | $88 | |
Lemonade | $94 | |
State Farm | $91 | |
State Farm | $106 | |
State Farm | $125 | |
Best Renters Insurance by City
The best renters insurance companies may also vary by city. Depending on where you live, the top insurer may differ from the overall winner in your state. Filter the table below by state and check the highest-rated providers in your city.
Data filtered by:
AK
| Anchorage | State Farm | $103 |
| Fort Wainwright | State Farm | $97 |
| Fort Yukon | State Farm | $97 |
| Jber | State Farm | $103 |
| Old Harbor | State Farm | $107 |
How Much Does Renters Insurance Cost?
Renters insurance costs an average of $15 per month or $185 annually for a policy with $20,000 in personal property coverage and $100,000 in liability protection. Your actual premium depends on how much coverage you choose, with higher coverage limits increasing costs proportionally. The table below shows average premiums across different coverage levels for renters with good credit, a $1,000 deductible and no prior claims.
| $20K Personal Property / $100K Liability | $15 | $185 |
| $50K Personal Property / $100K Liability | $26 | $315 |
| $100K Personal Property / $100K Liability | $44 | $527 |
| $250K Personal Property / $300K Liability | $96 | $1,149 |
What Are the Cheapest Renters Insurance Companies?
Amica offers the cheapest renters insurance nationwide at $10 per month or $116 annually. AAA and Lemonade tie for second place at $11 monthly ($135 yearly), while Auto-Owners Insurance and State Farm both charge $12 per month ($145 per year). Your actual rate depends on your state, coverage limits and deductible amount.
Amica | $10 | $116 |
State Farm | $12 | $145 |
Lemonade | $11 | $135 |
Auto-Owners Insurance | $12 | $145 |
AAA | $11 | $134 |
Allstate | $15 | $178 |
Mercury Insurance | $13 | $159 |
USAA | $14 | $171 |
Progressive | $15 | $176 |
How to Compare the Best Renters Insurance Providers
Comparing renters insurance companies takes more than checking the monthly premium. Use these criteria to find the right fit:
- 1Get Multiple Quotes for the Same Coverage
Get quotes from at least three insurers using the same coverage amounts so you're comparing like for like. A good starting point is $20,000 to $50,000 in personal property coverage and $100,000 in liability protection. Adjust from there based on what you actually own.
- 2Check Financial Strength and Customer Satisfaction
Look for AM Best or Standard & Poor's ratings of A or higher. Check J.D. Power scores and state insurance department complaint ratios alongside the financial ratings. A low complaint ratio is often a better predictor of claims experience than a star rating.
- 3Compare Coverage Options and Policy Limits
Many policies cap payouts on jewelry and electronics at $1,000 to $2,500, so check those limits before assuming your valuables are covered. Read the exclusions and confirm whether you can add scheduled personal property coverage for anything above the cap.
- 4Calculate Costs After Available Discounts
Base rates don't tell the full story. Figure out which discounts apply to you (bundling and security systems are the most common) and compare your actual premium after those discounts are applied. Discount availability varies enough between insurers that the cheapest base rate often isn't the cheapest final rate.
- 5Consider Your Service Preferences
Know whether you want a local agent or an app before you start comparing. Then check how each insurer actually handles claims. Customer reviews and processing timelines give you a clearer picture than the marketing does.
Best Renters Insurance for Different Renters
The right policy also depends on your specific situation.
College studentsOff-campus renters typically need lower personal property limits than a full apartment, and some insurers offer a student discount. Our guide to renters insurance for college students walks through coverage limits sized for a dorm or shared apartment.
Renters with petsA dog bite or pet-related liability claim isn't automatically covered by a standard policy. See our breakdown of pet liability coverage for renters to check what your policy actually includes.
Renters with high-value electronics or valuables.Standard personal property limits often cap out below what a laptop, camera or jewelry collection is worth. Scheduling those items separately closes that gap.
Renters who bundle with auto insuranceIf you already carry auto coverage, ask your insurer for a multi-policy discount before you shop elsewhere. It's often the fastest way to lower your renters insurance rate.
How Much Renters Insurance Coverage Do You Need?
The right starting point for how much renters insurance you need is a room-by-room inventory: furniture, electronics, clothing, kitchen appliances and anything else you'd have to replace. Most renters land between $20,000 and $50,000 in personal property coverage. A studio with basic furnishings might need only $20,000. A renter with expensive electronics, designer clothing or valuable collections could need $75,000 or more.
Liability coverage is separate from personal property and worth thinking through on its own. Standard policies start at $100,000, which covers you if someone's injured in your rental or you accidentally damage the building. If you host often, own a dog or have real assets to protect, bump that to $300,000 or $500,000. The added cost is usually small and the added protection is substantial.
Top Renters Insurance Companies: Bottom Line
Get renters insurance the same way you'd choose any financial product: compare at least three quotes, check each insurer's claims record and complaint history, and match your coverage limits to what you actually own. The best renters insurance is the policy that pays reliably when you need it, not just the one with the lowest premium.
Finding the Best Renters Insurance: FAQ
Most renters insurance policies activate within 24 hours, and many insurers offer same-day coverage if you apply early. Lemonade covers you the moment you submit your application and payment. Traditional insurers can take one to three business days. Policy documents and proof of insurance arrive by email once coverage starts.
Actual cash value (ACV) pays what your items were worth at the time of loss after depreciation. Replacement cost pays what it takes to buy the same item new today. A five-year-old laptop with an ACV of $300 might cost $800 to replace: ACV pays $300, replacement cost pays $800. Replacement cost coverage costs a little more but closes that gap.
Your landlord's policy covers the building and their liability, not your belongings or your liability. A fire that destroys your furniture, electronics and clothing won't trigger your landlord's coverage. Renters insurance covers your possessions and protects you if someone's injured in your unit or you accidentally damage the property.
Yes, but most insurers require written notice at least 30 days out. Cancel mid-term and you'll get a prorated refund for unused premium, minus any cancellation fees. Check your policy documents or call your insurer before canceling so you know what fees apply.
Loss of use coverage, which most renters insurance policies include, pays for temporary housing like hotels when a covered loss such as fire or severe water damage makes your rental uninhabitable. It typically reimburses the difference between your normal rent and your temporary housing costs, up to your policy limits.
You’ll need photos or videos of the damage, a detailed list of damaged or stolen items with approximate values, and receipts or proof of purchase when available. Your insurer will also require your policy number, the date and time of the incident and a written description. For theft claims, provide a copy of the police report.
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Our Ratings Methodology
The cheapest renters insurance policy isn't always the best value if it comes with poor claims service or inadequate coverage options. We designed this analysis to identify which insurers balance affordable premiums with reliable claims handling and comprehensive protection.
We collected rate data for all 50 states from Quadrant Information Services and evaluated customer satisfaction using assessments from the National Association of Insurance Commissioners (NAIC), AM Best and J.D. Power. Our scoring considers three factors: affordability (50%), customer experience (40%) and coverage (10%).
Our profile is for a renter with good credit (769-792 credit score) and no claims in the past five years. We used $20,000 in personal property coverage, $100,000 in liability protection and a 500 deductible as baseline coverage amounts. We then included higher coverage limits for renters with more valuable belongings. These coverage levels reflect what most renters actually purchase while allowing meaningful cost comparisons across insurers.
We built this methodology around what renters need most: protection for your belongings and cover for your liability. Prices and available insurers change from state to state, so we rank each state on its own. You see the best options in your area, not a national list that may not fit.
About Mark Fitzpatrick
Mark Fitzpatrick is a licensed Property and Casualty (P&C) Insurance Producer and MoneyGeek's resident expert in insurance and economics. In nearly a decade covering the insurance market at LendingTree and MoneyGeek, he's analyzed hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.
His work has appeared in The Washington Post, The New York Times and NPR. He draws on independent cost and consumer experience data, and no insurance company partnerships affect his recommendations.
Mark studied at Boston College and later earned a master's in economics and international relations from Johns Hopkins University. He worked in financial risk management at State Street before joining MoneyGeek. He's also a five-time “Jeopardy!” champion.