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. These five companies offer competitive rates, strong financial stability and coverage options that protect your belongings and liability exposure.
Best Renters Insurance Companies (2026)
Updated: February 19, 2026
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Key Takeaways: Finding the Best Renters Insurance
Amica is the best renters insurance company based on our research, earning a MoneyGeek score of 4.8 out of 5 for its low average rates, quality coverage and positive customer service.
Amica is also the most affordable renters insurance provider in our study, with average annual rates of $107. Lemonade and State Farm also ranked as some of the cheapest options for coverage, with rates 34% and 28% below the national average, respectively.
Compare at least three insurers based on cost, customer satisfaction scores and coverage options to find the best renters insurance company for your specific needs and budget.
Top 5 Renters Insurance Companies in 2026
Amica | 4.8 | Best Overall | $107 |
State Farm | 4.7 | Best Customer Experience | $134 |
Lemonade | 4.7 | Best Online Experience | $122 |
Allstate | 4.5 | Best Discounts | $164 |
Nationwide | 4.5 | Best Specialized Coverage Options | $174 |
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
$107Based 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
$9Based 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
711/1,000From 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.
State Farm
Best Customer Experience
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.9/5Customer Experience
4/5Coverage
Average Annual Premium
$134Based 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
$11Based 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
685/1,000From 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
$122Based 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 $1,000 deductible.J.D. Power Customer Satisfaction Score
661/1,000From 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
$164Based 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
$14Based 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
638/1,000From 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.
Nationwide
Best Specialized Coverage Options
MoneyGeek Rating
4.5/ 5
4.5/5Affordability
4.7/5Customer Experience
3.6/5Coverage
Average Annual Premium
$174Based 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
$15Based 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
687/1,000From 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.
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.
| AK | State Farm | $101 |
| AL | Cinncinnati Insurance | $120 |
| AR | State Farm | $147 |
| AZ | Lemonade | $81 |
| CA | Lemonade | $111 |
| CO | State Farm | $86 |
| CT | Amica | $100 |
| DC | Lemonade | $74 |
| DE | State Farm | $88 |
| FL | State Farm | $148 |
| GA | The Hanover | $147 |
| HI | State Farm | $104 |
| IA | State Farm | $87 |
| ID | State Farm | $86 |
| IL | Erie Insurance | $145 |
| IN | Lemonade | $94 |
| KS | State Farm | $99 |
| KY | State Farm | $113 |
| LA | The Hanover | $150 |
| MA | Amica | $129 |
| MD | Erie Insurance | $148 |
| ME | State Farm | $80 |
| MI | Auto-Owners Insurance | $34 |
| MN | Chubb | $79 |
| MO | State Farm | $112 |
| MS | State Farm | $269 |
| MT | State Farm | $88 |
| NC | State Farm | $104 |
| ND | Farm Bureau | $66 |
| NE | State Farm | $76 |
| NH | Amica | $70 |
| NJ | Lemonade | $66 |
| NM | State Farm | $92 |
| NV | Lemonade | $99 |
| NY | Lemonade | $64 |
| OH | Erie Insurance | $150 |
| OK | Chubb | $183 |
| OR | Lemonade | $75 |
| PA | Chubb | $113 |
| RI | Amica | $98 |
| SC | Auto-Owners Insurance | $115 |
| SD | State Farm | $77 |
| TN | Erie Insurance | $179 |
| TX | Lemonade | $111 |
| UT | State Farm | $96 |
| VA | Erie Insurance | $139 |
| VT | State Farm | $88 |
| WA | Lemonade | $94 |
| WI | State Farm | $91 |
| WV | State Farm | $106 |
| WY | 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 ($134 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 |
| AAA | $11 | $134 |
| Lemonade | $11 | $134 |
| Auto-Owners Insurance | $12 | $145 |
| State Farm | $12 | $145 |
| Mercury Insurance | $13 | $159 |
| USAA | $14 | $171 |
| Progressive | $15 | $176 |
| Allstate | $15 | $178 |
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.
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 quotes from at least three companies, check their financial strength ratings and customer satisfaction scores, and pick the policy that covers your belongings and liability at a price that works. That's the whole process.
Finding the Best Renters Insurance: FAQ
Here are answers to common questions about choosing the best renters insurance company:
How long does it take to get renters insurance after I apply?
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.
What's the difference between actual cash value and replacement cost coverage?
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.
Do I need renters insurance if my landlord has insurance?
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.
Can I cancel my renters insurance at any time?
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.
Does renters insurance cover hotel stays if my rental becomes uninhabitable?
Loss of use coverage, included in most renters insurance policies, pays for temporary housing like hotels if your rental becomes uninhabitable due to a covered loss such as fire or severe water damage. This coverage typically reimburses you for the difference between your normal rent and your temporary housing costs, up to your policy limits.
What documents do I need to file a renters insurance claim?
You'll need photos or videos of the damage, a detailed list of damaged or stolen items with their 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 of what happened. 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 obtained rate data from Quadrant Information Services for all 50 states and evaluated customer satisfaction using assessments from the National Association of Insurance Commissioners (NAIC), AM Best and J.D. Power. Our scoring system weighs three factors: affordability (50%), customer experience (40%) and coverage (10%).
Our sample profile represents a typical 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 $1,000 deductible as baseline coverage amounts, then expanded our research to include 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.
This methodology helps you evaluate insurers based on what matters when protecting your belongings and liability exposure as a renter. State-level analysis accounts for regional pricing differences and insurer availability, showing you the best options where you actually live rather than generic national rankings that may not apply to your location.
The Best Renters Insurance Companies: Related Pages
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.