The Best Renters Insurance for 2024: Affordable Rates & Great Customer Service

Finding the best renters insurance is an affordable way to protect your belongings from damage or theft. To help you do that, MoneyGeek analyzed several factors — including customer service scores, financial stability metrics, discounts and premiums — across all 50 states and hundreds of cities to determine which renters insurance companies are best for consumers.

These overall rankings provide a good starting point for finding high-quality renters insurance. Additionally, MoneyGeek researched the best companies for specific types of renters, whether you’re looking for a cheap quote or the best customer service.

• Best renters insurance at a national level
  
• Best renters insurance by state
  
• Best renters insurance for your needs
  

The best renters insurance policies are from affordable providers offering high levels of customer service. Based on MoneyGeek’s analysis, State Farm tops the list of best renters insurance companies, followed closely by Allstate.

Keep in mind MoneyGeek’s methodology focuses on widely available insurers, so you may be able to find better rates from local or regional insurance companies. Also, USAA — which is only available to current and former military members and their families — has strong scores in all categories.

It’s always important to shop around and compare personalized renters insurance quotes from at least three insurance companies.

Location is one of the key factors the best renters insurance companies use to determine your rates. Therefore, it’s important to determine which companies are the best and cheapest in your particular state or city. MoneyGeek created a scoring system for the best company in each state based on cost, customer service and financial stability.

Based on this system, State Farm ranks as the best renters insurance company in most of the country (22 states). Allstate is the runner-up as the best option in 11 states. But eight other insurance companies rank as the best renters insurance option in at least one state. This analysis excludes USAA, but if you're eligible for a policy, it ranks as the best company for renters insurance in 27 states.

Find your state below and follow the link to learn more about the best and cheapest renters insurance companies where you live.

When shopping for renters insurance, finding the best company for you may depend on the exact coverage you need or your eligibility for discounts. While the top two best renters insurance companies listed here are excellent choices for any renter, MoneyGeek also ranked companies based on the type of renter they suit best. All costs are for a basic policy with $20,000 coverage for personal property, $100,000 in liability coverage and a $500 deductible.

The best renters insurance company provides great service at a good price. But it should also be a company most renters can buy from. State Farm's combination of affordability, customer experience and availability across the country makes it our top pick.

Allstate offers the cheapest renters insurance in the country on average. But it doesn't sacrifice service quality to get you a low rate.

Farmers offers relatively affordable renters insurance and it has some of the highest customer service ratings in the industry.

Lemonade is rapidly expanding its availability across the country. No other insurer makes it easier to quickly secure a renters insurance policy.

American Family, also called AmFam, is a regional insurance company that's not available anywhere. But if you're looking to shop on the phone and talk to a customer service representative, they offer the best experience.

An initial renters insurance quote with Nationwide may be expensive, but you should see how cheap of a quote you can get when you apply all its discounts.

If it weren't restricted to military service members and their families, USAA would rate as the best renters insurance in the country.

When shopping for renters insurance, knowing the best renters insurance companies is a great first step. However, it’s also important to understand what renters insurance covers, what it doesn't doesn’t cover, what a policy’s deductible is and the difference between replacement cost and actual cash value.

If you still have questions about the best renters insurance, the following answers to some frequently asked questions should help you better understand renters insurance.

MoneyGeek, in partnership with data from Quadrant Corp, JD Power and AM Best, analyzed a dozen of the most reputable renters insurance companies to determine which companies were best. The ranking score calculation used 20% weighting for financial stability, 30% for customer service and 50% for affordability for each company.