Best and Cheapest Renters Insurance in Arizona (Sept 2024)

Nationwide is best for $20K in personal property coverage, with an annual premium of $138 and a MoneyGeek score of 90 out of 100, while Auto-Owners Insurance is the most affordable at an annual premium of $123.

The best insurer for you depends on your needs. Travelers could be a top choice if you value service, while USAA is ideal for veterans.

Nationwide stands out as the best renters insurance provider in Arizona, boasting a MoneyGeek score of 90 out of 100 and an annual premium of $138 for $20K in personal property coverage. The following providers are the two best renters insurance options in Arizona for the same policy.

• Nationwide: MoneyGeek score of 90 out of 100 ($138 per year)
• American Family: MoneyGeek score of 89 out of 100 ($147 per year)

While Nationwide is not the cheapest option, it still offers a good balance between customer satisfaction and affordability. Ultimately, the best choice for you will depend on your specific needs.

Auto-Owners Insurance offers the cheapest renters insurance in Arizona with an annual premium of $123 for $20K in personal property coverage and a $1,000 deductible. The top two cheapest providers in Arizona for this level of coverage are:

• Auto-Owners Insurance: $123 per year
• Allstate: $131 per year

Personal property coverage helps safeguard belongings like furniture, electronics and clothing against covered risks. Less expensive renters insurance plans often include lower limits on personal property coverage. While this can keep your monthly costs down, opting for higher coverage limits gives you more financial protection for your possessions.

For policies with $20,000 in personal property coverage and a $2,000 deductible, the top two cheapest providers in Arizona are:

• Nationwide: $117 per year
• Auto-Owners: $149 per year

A deductible is the money you pay before your insurance company helps cover a claim. Choosing a higher deductible typically lowers your insurance premium because you're assuming more financial responsibility. Review the table below to see how changing your deductible can impact rates.

In Arizona, the best renters insurance company for service quality is Travelers, with a MoneyGeek score of 85 and an average premium of $246 per year. If you're seeking excellent customer service, the following providers are the top two best in Arizona:

• Travelers: MoneyGeek score of 85 out of 100 ($246 per year)
• Nationwide: MoneyGeek score of 84 out of 100 ($138 per year)

Great customer service can make a substantial difference to renters, especially during stressful times like making a claim. For instance, if you suddenly experience property loss or damage, a swift and empathetic response from your insurer can provide much-needed peace of mind.

American Family is the best insurance company for renters who need $100K of personal property coverage in Arizona, with an annual premium of $218. For the same coverage, the following are the top two best providers in Arizona:

• American Family: MoneyGeek score of 92 out of 100 ($218 per year)
• Nationwide: MoneyGeek score of 90 out of 100 ($274 per year)

Renters with more personal belongings often require higher personal property coverage, which is designed to protect items like furniture, electronics, and clothing from theft, damage, or loss. Even if it costs more each month, it's important to get the coverage amount you need to protect your assets — this ensures that if an unfortunate event occurs, you'll have the necessary financial protection and support to recover your losses.

USAA is the premier renters insurance company for homeowners with military backgrounds. State Farm is the second-best company for veterans and military families.

• USAA: MoneyGeek score of 100 out of 100 ($104 per year)
• Nationwide: MoneyGeek score of 90 out of 100 ($138 per year)

USAA provides various products specifically designed to meet the needs of military members, including discounts and coverages that align with the military lifestyle. USAA is also the cheapest option for military members in Arizona, making it the clear winner.

Nationwide is the best renters insurance company for those with poor credit in Arizona, with an annual premium of $219. The following providers are the top two providers in Arizona for those with poor credit:

• Nationwide: MoneyGeek score of 92 out of 100 ($219 per year)
• American Family: MoneyGeek score of 92 out of 100 ($258 per year)

Rates for those with poor credit are often higher, as providers view them as higher risk due to their perceived likelihood of filing claims. You can take steps to improve your credit and leverage available discounts to potentially lower your rates.

The average cost of renters insurance in Arizona is $195 annually, or $16 monthly, compared to the national average of $146 annually, or $12 monthly. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.

Be aware that the cost of renters insurance in Arizona can vary significantly based on the amount of personal property coverage you choose. Use the tool below to get an estimate tailored to your needs.

The average cost for renters insurance not only varies by state, but also varies by city. For example, in Chandler, the average annual premium is $179, while in Phoenix, it is $216.

These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, a $1,000 deductible, and a good credit score. Review the average cost in your city using the table below.

The cost of renters insurance in Arizona is influenced by multiple factors, including the location of the rental property and the amount of coverage desired. Understanding these variables is key to finding a policy that fits your budget and needs.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will typically increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out-of-pocket in case of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to perceived risk.
• Credit Score: Insurance companies may use your credit score to determine your premium, with higher scores often leading to lower costs.

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of all items you own, including their descriptions and values. Below are the steps to create a personal inventory to determine your personal property coverage:

1. List Items: Go through each room and list all items, including furniture, electronics, and personal belongings.
2. Categorize Items: Group items into categories such as electronics, furniture, clothing, etc.
3. Document Details: Note down descriptions, purchase dates, and estimated values for each item.
4. Take Photos: Photograph each item to have visual proof of ownership.
5. Store Securely: Keep the inventory list and photos in a safe place, such as a cloud storage service or a fireproof safe.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
• Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Renters insurance is mainly there to cover your personal belongings in case of damage, but it can also cover other things like personal liability and loss of use.

• Personal Property Coverage: This covers your belongings against perils like theft and fire. For instance, if a fire damages your apartment in Arizona, your insurance can help replace your possessions.
• Personal Liability Coverage: This protects you if someone gets injured in your rental unit and decides to sue. For example, if a guest slips and falls in your Arizona apartment, this coverage can help with legal fees and damages.
• Loss Of Use Coverage: This helps with additional living expenses if your rental becomes uninhabitable. For example, if a storm makes your Arizona apartment unlivable, your insurance can cover hotel costs under loss of use.

Renters insurance only covers specific circumstances, such as fire, storms, and theft. It's important to understand what circumstances are covered to ensure you have the protection you need.

• Fire: Coverage for damage caused by fire.
• Storms: Protection against damage from windstorms and hail.
• Theft: Coverage for stolen personal property.
• Vandalism: Protection against deliberate damage to your belongings.

Choosing the best renters insurance provider depends on your individual needs, such as coverage options and budget. In the following FAQs, we've answered common questions to help you make an informed decision about renters insurance.