Best and Cheapest Renters Insurance in California (Sept 2024)

While Nationwide is the best for $20K in personal property coverage with an average annual premium of $122 and a MoneyGeek score of 90 out of 100, Capital Insurance Group leads in affordability with an annual premium of $83.

However, the best option depends on your needs. For instance, Travelers stands out for quality service, and USAA is ideal for veterans.

Nationwide stands out as the best renters insurance provider in California with a MoneyGeek score of 90 out of 100 and an annual premium of $122 for $20K in personal property coverage. The following are the two best renters insurance providers in California for the same policy:

• Nationwide: MoneyGeek score of 90 out of 100 ($122 per year)
• Travelers: MoneyGeek score of 88 out of 100 ($138 per year)

While Nationwide is not the cheapest option, it still provides a good balance between customer satisfaction and affordability.

Capital Insurance Group offers the cheapest renters insurance in California, with an annual premium of $83 for $20K in personal property coverage and $1,000 deductible. The following providers are the top two cheapest in California for the same coverage:

• Capital Insurance Group: $83 per year
• Allstate: $117 per year

Personal property coverage helps protect your belongings, such as furniture, electronics, and clothing, from theft, fire or other covered perils. Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can increase monthly costs but offer better protection for your belongings.

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

• Capital Insurance Group: $65 per year
• Nationwide: $96 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.

Travelers is the best renters insurance company for service quality in California, with an annual premium of $138. If you're seeking excellent customer service, the following providers are the top two best in California:

• Travelers: MoneyGeek score of 96 out of 100 ($138 per year)
• Nationwide: MoneyGeek score of 95 out of 100 ($122 per year)

Great customer service in a renters insurance provider means quick, helpful responses and efficient claims processing to ensure your problems are resolved as smoothly as possible.

Travelers is the best renters insurance company for renters who need $100K of personal property coverage in California, with an annual premium of $340. The following are the top two best providers in California:

• Travelers: MoneyGeek score of 93 out of 100 ($340 per year)
• State Farm: MoneyGeek score of 93 out of 100 ($290 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. Nationwide is the second-best company for veterans and military families.

• USAA: MoneyGeek score of 100 out of 100 ($159 per year)
• Nationwide: MoneyGeek score of 90 out of 100 ($122 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.

The average cost of renters insurance in California is $261 per year or $22 per month. These rates are for a policy with $20K in personal property coverage, $100K in liability coverage and a $1,000 deductible.

Be aware that the cost of renters insurance in California 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 by city. For example, the annual premium in Anaheim is $133, while in West Covina it is $166.

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

Multiple factors impact the cost of renters insurance in California, including location, coverage amount, and deductible. Understanding these factors is important to help you choose the best policy for your needs. Here are some key factors that affect renters insurance costs:

• Location: Urban areas may have higher premiums due to increased risks.
• Coverage Amount: Higher coverage limits can increase the cost.
• Deductible: Lower deductibles generally result in higher premiums.
• Claims History: A history of claims can lead to higher costs.
• Security Features: Homes with security systems may have lower premiums.

Determining your personal property coverage as a renter starts with a thorough personal inventory of your belongings, along with their estimated value and proof of ownership. Here's how to create one:

1. Start With Big-Ticket Items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
2. Document With Photos or Videos: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
3. Include Receipts and Appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
4. Store Information Securely: Keep your inventory list and supporting documents in a safe, accessible location, such as a cloud storage service.
5. Update Regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.

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 does not cover everything, such as damage from natural disasters like floods and earthquakes, or high-value items like jewelry and electronics. Here are some specific exclusions to be aware of:

• Natural Disasters: Standard policies often exclude floods and earthquakes.
• High-Value Items: Items like jewelry and electronics may need additional coverage.
• Pest Infestations: Damage from pests like bedbugs and rodents is typically not covered.
• Roommate Belongings: Your policy may not cover your roommate's possessions.
• Business Equipment: Home-based business equipment often requires separate coverage.

Finding the best renters insurance provider for you can be easy. We've answered some common questions to help you make an informed decision.