The best and cheapest renters insurance company in Arvada, Colorado is Auto-Owners, with a MoneyGeek score of 92 and an annual premium of $56. Depending on your needs, other providers may be best; for example, Chubb excels in service quality with a MoneyGeek score of 93 and an annual premium of $137. MoneyGeek also looked into the best and cheapest renters insurance in Colorado for those who live elsewhere in the state.
Best and Cheapest Renters Insurance in Arvada, CO (Sept 2024)
Auto-Owners is the best and cheapest renters insurance in Arvada, Colorado, with a MoneyGeek score of 92 and an annual premium of $56. It offers a balance of affordability and customer satisfaction.
Mark Fitzpatrick
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
Mark Fitzpatrick
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
Updated: September 13, 2024
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Table of Contents
Why Trust MoneyGeek? To determine the top renters insurance in Colorado, we analyzed data from the Colorado Department of Insurance and Quadrant Information Services, focusing on the city of Arvada.
Renters insurance premiums in Arvada represent the most competitive estimates as of July 2024.
Overall Best Renters Insurance in Arvada, CO
The best renters insurance in Arvada, Colorado, is Auto-Owners with a MoneyGeek score of 92 out of 100 and an annual premium of $56. The following providers are the top two best renters insurance providers in Arvada for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible.
- Auto-Owners Insurance: MoneyGeek score of 92 out of 100 ($56 per year)
- State Farm: MoneyGeek score of 90 out of 100 ($63 per year).
The best provider in the state balances both cost and affordability. Auto-Owners Insurance has perfectly balanced customer satisfaction and affordability with an affordability score of 55 out of 55.
Auto-Owners ranks first in affordability and coverage in Arvada, Colorado, with an annual premium of $56. Auto-Owners offers contents replacement cost and refrigerated products coverages. Contents replacement cost covers the repair or replacement of your personal property without a deduction for depreciation. Refrigerated products coverage is also offered and it protects against the cost of spoiled food in your refrigerator, ensuring you don't bear the expense of replacing it.
Offers contents replacement cost and back-up of sewer or drain coverages.
Ranks first for affordability
Ranks first for coverage
Ranks fifth in Arvada for customer satisfaction compared to other insurers
To find the best overall renters insurance in the city, MoneyGeek's scoring system focuses on customer satisfaction and affordability. Secondary factors include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Auto-Owners Insurance | MoneyGeek Score92 | Annual Premium$ 56 |
State Farm | MoneyGeek Score90 | Annual Premium$ 63 |
Allstate | MoneyGeek Score72 | Annual Premium$ 95 |
Chubb | MoneyGeek Score65 | Annual Premium$ 137 |
American Family | MoneyGeek Score57 | Annual Premium$ 151 |
COUNTRY Financial | MoneyGeek Score54 | Annual Premium$ 136 |
Farmers | MoneyGeek Score50 | Annual Premium$ 150 |
Cheapest Renters Insurance in Arvada, CO
In Arvada, Colorado, Auto-Owners offers the cheapest renters insurance with an annual premium of $56 for $20,000 in personal property coverage. Personal property coverage protects your belongings in case of theft, fire, or other covered events. The following providers are the top two cheapest providers in Arvada for $20,000 in personal property coverage and a $1,000 deductible, with minimal consideration for customer service according to MoneyGeek's ratings:
- Auto-Owners Insurance: $56 per year
- State Farm: $63 per year
Cheap renters insurance policies often have lower personal property coverage limits. Higher coverage limits can lead to higher monthly costs but provide better protection if you own many personal belongings.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Auto-Owners Insurance | MoneyGeek Score96 | Annual Premium$ 56 |
State Farm | MoneyGeek Score93 | Annual Premium$ 63 |
Allstate | MoneyGeek Score72 | Annual Premium$ 95 |
Chubb | MoneyGeek Score56 | Annual Premium$ 137 |
COUNTRY Financial | MoneyGeek Score50 | Annual Premium$ 136 |
American Family | MoneyGeek Score45 | Annual Premium$ 151 |
Farmers | MoneyGeek Score42 | Annual Premium$ 150 |
Cheapest Renters Insurance With a High Deductible Arvada, CO
In Arvada, Colorado, Auto-Owners offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $54. A deductible is the amount you pay out-of-pocket before your insurance covers the rest, and it can affect your rates. The following providers are the top two cheapest providers in Arvada for $20,000 in personal property coverage and a $2,000 deductible:
- Auto-Owners: $54 per year
- State Farm: $62 per year
A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It's important to balance both to ensure you're not overpaying for insurance or facing high out-of-pocket costs if you need to file a claim.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
- $ 500
- $ 1,000
- $ 1,500
- $ 2,000
Auto-Owners Insurance | MoneyGeek Score92 | Annual Premium$ 54 |
State Farm | MoneyGeek Score90 | Annual Premium$ 62 |
Allstate | MoneyGeek Score71 | Annual Premium$ 95 |
COUNTRY Financial | MoneyGeek Score59 | Annual Premium$ 122 |
Chubb | MoneyGeek Score68 | Annual Premium$ 130 |
American Family | MoneyGeek Score61 | Annual Premium$ 138 |
Farmers | MoneyGeek Score50 | Annual Premium$ 150 |
When selecting a deductible, ensure it's an amount you can comfortably pay out-of-pocket if you need to make a claim. Choosing a higher deductible can lower your annual premiums, resulting in overall cost savings while still providing adequate coverage.
Best Renters Insurance for Customer Service in Arvada, CO
In Arvada, Colorado, Chubb stands out as the best renters insurance company for service quality, with an annual premium of $137. The following providers are the top two best providers in Arvada, Colorado, for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability.
- Chubb: MoneyGeek score of 93 out of 100 ($137 per year)
- American Family: MoneyGeek score of 87 out of 100 ($151 per year)
Great customer service is essential for renters looking for insurance. When you make a claim, efficient service can help you get back on your feet quickly and with less stress.
Chubb ranks first in customer satisfaction and coverages in Arvada, Colorado, with an annual premium of $137. It offers contents replacement cost coverage, which covers the full cost to replace your belongings in case of a fire, water leak, or another unexpected event. Additionally, its rental car coverage provides primary car rental coverage worldwide when your liability limit is $1 million or more.
Offers contents replacement cost and rental car coverage
Provides protective device and bundle discounts
Ranks first in the city for coverage
To find the best renters insurance for service quality in the city, MoneyGeek's scoring system focuses on customer service. Secondary factors considered are coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Chubb | MoneyGeek Score93 | Annual Premium$ 137 |
American Family | MoneyGeek Score87 | Annual Premium$ 151 |
Auto-Owners Insurance | MoneyGeek Score83 | Annual Premium$ 56 |
State Farm | MoneyGeek Score82 | Annual Premium$ 63 |
Allstate | MoneyGeek Score71 | Annual Premium$ 95 |
Farmers | MoneyGeek Score70 | Annual Premium$ 150 |
COUNTRY Financial | MoneyGeek Score66 | Annual Premium$ 136 |
Best Renters Insurance for High Personal Property Limits in Arvada, CO
Auto-Owners offers an annual premium of $118 for policies with $100,000 in personal property coverage, making it the best choice for renters in Arvada, Colorado, who require high personal property coverage. High personal property coverage refers to a higher limit on the insurance policy to protect personal belongings. For $100K in personal property coverage, the top two best providers in Arvada are:
- Auto-Owners: MoneyGeek score of 92 out of 100 ($118 per year)
- State Farm: MoneyGeek score of 91 out of 100 ($146 per year)
Renters with a substantial number of belongings often need higher personal property coverage, which is designed to protect items like furniture, electronics, and clothing from loss or damage. While higher coverage typically comes with a higher premium, finding a provider that offers a good balance of cost and service is vital. Remember, high-value items like jewelry or art may need additional coverage, as standard policies may not fully cover these items.
Auto-Owners Insurance ranks first in affordability and customer satisfaction for expensive homes in Arvada, Colorado, with an annual premium of $118.
Auto-Owners offers valuable coverages like contents replacement cost and back-up of sewer or drain. Contents replacement cost covers the repair or replacement of personal property without depreciation, ensuring renters get full value for their items. Back-up of sewer or drain covers damage caused by water back-up, protecting renters from costly repairs.
Offers contents replacement cost and back-up of sewer or drain coverage
Provides responsible payment and pay-in-full discounts
Ranks first in the city for coverage options
Ranks fifth in the city for customer satisfaction
To find the best renters insurance for those needing higher personal property limits, MoneyGeek's scoring system focuses on customer satisfaction and affordability. Secondary factors include coverages and financial stability.
Auto-Owners Insurance | MoneyGeek Score92 | Annual Premium$ 118 |
State Farm | MoneyGeek Score91 | Annual Premium$ 146 |
COUNTRY Financial | MoneyGeek Score82 | Annual Premium$ 148 |
American Family | MoneyGeek Score82 | Annual Premium$ 255 |
Allstate | MoneyGeek Score77 | Annual Premium$ 233 |
Farmers | MoneyGeek Score73 | Annual Premium$ 280 |
Chubb | MoneyGeek Score60 | Annual Premium$ 559 |
Be aware that standard insurance policies often don't cover high-value items like jewelry or art. If you own such valuables, choose a provider that offers scheduled personal property coverage to protect them.
Best Renters Insurance for Military Families in Arvada, CO
In Arvada, USAA is the top-ranked renters insurance company for those with military backgrounds, boasting an annual premium of $92. The following providers are the top two best providers in Arvada for military members with a policy offering $20,000 in personal property coverage.
- USAA: MoneyGeek score of 100 out of 100 ($92 per year)
- Auto-Owners: MoneyGeek score of 92 out of 100 ($56 per year)
USAA offers a range of products tailored for those with a military background, including discounts and coverages that suit the military lifestyle. Although Auto-Owners ranks first in affordability, USAA's tailored offerings for military members make it a strong contender.
USAA stands out as the premier renters insurance provider for those with a military background in Arvada. With an average annual premium of $92, USAA provides affordability and comprehensive financial protection.
It offers contents replacement cost, which covers the cost of replacing belongings with brand-new ones in the event of theft or damage. It also has worldwide personal property coverage, providing peace of mind for military members at home or abroad.
Offers contents replacement cost and worldwide personal property coverages
Provides claims-free and military base or academy residence discounts
Ranks No. 1 for customer satisfaction and coverage
Does not offer cyber event / ID theft coverage
Exclusively serves military members and their families
MoneyGeek's scoring for the best military renters insurance prioritizes customer satisfaction and affordability. Secondary considerations include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
USAA | MoneyGeek Score100 | Annual Premium$ 92 |
Auto-Owners Insurance | MoneyGeek Score92 | Annual Premium$ 56 |
State Farm | MoneyGeek Score90 | Annual Premium$ 63 |
Allstate | MoneyGeek Score72 | Annual Premium$ 95 |
Chubb | MoneyGeek Score65 | Annual Premium$ 137 |
American Family | MoneyGeek Score57 | Annual Premium$ 151 |
COUNTRY Financial | MoneyGeek Score54 | Annual Premium$ 136 |
Farmers | MoneyGeek Score50 | Annual Premium$ 150 |
Best Renters Insurance for Low Credit Scores in Arvada, CO
For renters in Arvada with poor credit, Chubb offers the best renters insurance at an annual premium of $234 for a policy with $20,000 in personal property coverage. The top two providers in Arvada for those with poor credit for the same type of policy are:
- Chubb: MoneyGeek score of 94 out of 100 ($234 per year)
- State Farm: MoneyGeek score of 93 out of 100 ($127 per year)
In Arvada, rates for renters with poor credit are typically higher due to the increased risk they pose to insurance providers. Providers view these renters as higher-risk because poor credit may indicate a history of late payments or financial instability. However, by taking steps to improve their credit and exploring available discounts, renters can work towards more favorable insurance rates in the future.
Chubb ranks first in affordability for renters with poor credit in Arvada, Colorado, with an annual premium of $234. Chubb offers reasonably rare rental car coverage and reasonably common contents replacement cost discounts. Rental car coverage provides primary car rental insurance worldwide when your liability limit is $1 million or more. Contents replacement cost covers the full cost to replace your belongings in events like fire or water leaks, offering peace of mind and financial protection.
Offers protective device and bundle discounts
Ranks first in the city for coverage options
Ranks third in the city for customer satisfaction
To find the best renters insurance for those with poor credit, MoneyGeek's scoring system focuses on customer satisfaction and affordability. Secondary factors include coverages and financial stability.
- Below Fair
- Excellent
- Fair
- Good
- Poor
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Chubb | MoneyGeek Score94 | Annual Premium$ 234 |
State Farm | MoneyGeek Score93 | Annual Premium$ 127 |
American Family | MoneyGeek Score91 | Annual Premium$ 259 |
Allstate | MoneyGeek Score86 | Annual Premium$ 170 |
Farmers | MoneyGeek Score85 | Annual Premium$ 212 |
COUNTRY Financial | MoneyGeek Score83 | Annual Premium$ 203 |
Auto-Owners Insurance | MoneyGeek Score56 | Annual Premium$ 1,892 |
Average Cost of Renters Insurance in Arvada, CO
The average cost of renters insurance in Arvada, Colorado is $113 annually, or $9 monthly, which is slightly lower than the average cost of renters insurance in the state at $114 annually. This makes Arvada's average cost $1 cheaper than the Colorado average and $32 cheaper than the national average of $145 annually.
These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.
Renters should remember that the average cost of renters insurance in Arvada may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings against risks like theft, fire, and other damages. Use the calculator below to see how prices change based on the value of your personal property.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Factors That Impact Renters Insurance Costs in Arvada
Various factors influence renters insurance costs in Arvada, Colorado. For example, the location of your rental property and the amount of coverage you choose can significantly affect your premiums. Understanding these factors is crucial when shopping for a policy to ensure you get the best coverage at an affordable price. Below are some key factors that impact renters insurance costs:
- Location: The neighborhood's crime rate and susceptibility to natural disasters can raise premiums. Insurers charge more in high-risk areas to offset potential claims.
- Coverage Amount: The higher the coverage you select, the more you'll pay. More coverage means higher payouts for the insurer in case of a claim.
- Deductible: A higher deductible lowers your premium but increases your out-of-pocket costs when filing a claim. Choosing the right balance is essential.
- Claims History: A history of frequent claims can lead to higher premiums. Insurers view you as a higher risk if you have a record of numerous claims.
- Credit Score: A good credit score can lower your insurance costs. Insurers use credit scores to assess risk, with higher scores indicating lower risk.
What Renters Insurance Covers in Arvada, CO
Renters insurance covers personal property, liability, and additional living expenses. It protects your belongings from theft or damage and covers legal costs if someone gets hurt in your home. Purchasing renters insurance is important to avoid financial loss from unforeseen events.
- Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter may receive compensation for a stolen laptop.
- Personal Liability Coverage: This protects you financially if a guest is injured in your rental or you cause property damage. A renter could use this coverage if a guest slips and falls in their apartment.
- Loss of Use Coverage: Loss of use coverage helps with additional living expenses if your rental is unlivable due to a covered peril. A renter might rely on loss of use coverage to pay for a hotel stay after a fire.
Renters insurance typically covers losses from incidents like theft, fire and water damage. Understanding your policy's specific coverage is key to ensuring you're protected. Here are common situations renters insurance covers:
- Fire or lightning
- Windstorm or hail
- Explosions
- Riots
- Aircraft
- Vehicles
- Smoke damage
What Renters Insurance Does Not Cover in Arvada
Although renters insurance provides a financial safety net, it doesn't shield against every mishap. For instance, it typically excludes flood damage and your roommate's possessions.
- Natural Disasters: Standard renters insurance often does not cover damage from earthquakes or floods.
- Roommate's Belongings: Personal property coverage does not extend to items owned by a roommate unless they are listed on the policy.
- High-Value Items: Expensive jewelry or electronics may exceed the policy's limit and require additional coverage.
- Business Equipment: Property used for business purposes might not be covered under a standard renters insurance policy.
- Pest Damage: Infestations and damage from pests like bed bugs or rodents are usually not covered.
- Car Theft: While personal property stolen from your car may be covered, the theft of the car itself is not.
FAQ: Renters Insurance in Arvada, CO
The best renters insurance provider for you in Arvada ultimately depends on your needs. Below, we've answered some frequently asked questions to help you make an informed decision.
The average cost of renters insurance in Arvada, Colorado, is $113 annually.
The cheapest renters insurance company in Arvada, Colorado, is Auto-Owners Insurance with an annual premium of $56.
The best renters insurance company in Arvada, Colorado, is Auto-Owners Insurance with a MoneyGeek Best Score of 92.
While renters insurance is not legally required in Arvada, Colorado, it is highly recommended to protect your personal property and provide liability coverage.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.