The best and cheapest renters insurance company in Centennial, 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, such as Chubb, which excels in service quality with an annual premium of $134. 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 Centennial, CO (Sept 2024)
Auto-Owners is both the best and cheapest renters insurance in Centennial, Colorado, with a MoneyGeek score of 92 and an annual premium of $56. This provider expertly blends affordability with 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.
Rae Osborn
Content Editor
Dr. Rae Osborn is a MoneyGeek content editor with over seven years of editing experience and over 20 years of experience in publishing and writing science content. She also works as a science researcher, writer and editor and a professional reviewer for Science Reviews and Advances in Entomology.
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.
Rae Osborn
Content Editor
Dr. Rae Osborn is a MoneyGeek content editor with over seven years of editing experience and over 20 years of experience in publishing and writing science content. She also works as a science researcher, writer and editor and a professional reviewer for Science Reviews and Advances in Entomology.
Updated: September 13, 2024
Advertising & Editorial Disclosure
Table of Contents
Why Trust MoneyGeek? To determine the top renters insurance in Centennial, we analyzed data from the Colorado Department of Insurance and Quadrant Information Services.
Renters insurance premiums in Centennial represent the most competitive estimates as of September 2024.
Overall Best Renters Insurance in Centennial, CO
The best renters insurance in Centennial, Colorado, is Auto-Owners, with a MoneyGeek score of 92 out of 100 and an annual premium of $56. The top two providers in Centennial for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible are:
- Auto-Owners: MoneyGeek score of 92 out of 100 ($56 per year)
- State Farm: MoneyGeek score of 89 out of 100 ($67 per year)
The best provider in the state balances both cost and affordability. Auto-Owners has perfectly balanced customer satisfaction and affordability.
Auto-Owners Insurance ranks first in Centennial, Colorado, for affordability and coverage. Their annual premium is $56. It 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 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 for customer satisfaction
To find the best overall renters insurance in the city, MoneyGeek's scoring system focused on customer service and affordability. Secondary factors considered 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 Score89 | Annual Premium$ 67 |
Allstate | MoneyGeek Score73 | Annual Premium$ 95 |
Chubb | MoneyGeek Score68 | Annual Premium$ 134 |
American Family | MoneyGeek Score57 | Annual Premium$ 156 |
COUNTRY Financial | MoneyGeek Score56 | Annual Premium$ 136 |
Farmers | MoneyGeek Score52 | Annual Premium$ 150 |
Cheapest Renters Insurance in Centennial, CO
In Centennial, 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 against risks such as theft, fire, and certain natural disasters. The following providers are the top two cheapest providers in Centennial for $20,000 in personal property coverage and a $1,000 deductible, with minimal consideration for customer service according to MoneyGeek.
- Auto-Owners: $56 per year
- State Farm: $67 per year
Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can increase monthly costs but offer better protection if you own many valuable belongings.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Auto-Owners Insurance | MoneyGeek Score96 | Annual Premium$ 56 |
State Farm | MoneyGeek Score91 | Annual Premium$ 67 |
Allstate | MoneyGeek Score73 | Annual Premium$ 95 |
Chubb | MoneyGeek Score59 | Annual Premium$ 134 |
COUNTRY Financial | MoneyGeek Score52 | Annual Premium$ 136 |
American Family | MoneyGeek Score45 | Annual Premium$ 156 |
Farmers | MoneyGeek Score45 | Annual Premium$ 150 |
Cheapest Renters Insurance With a High Deductible Centennial, CO
In Centennial, Colorado, Auto-Owners offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, at an annual premium of $54. The following providers are the top two cheapest providers in Centennial for this coverage:
- Auto-Owners: $54 per year
- State Farm: $65 per year
A deductible is the amount you pay out of pocket before your insurance covers a claim, and it can affect your rates. A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. Balancing both is important because a higher deductible can make your premiums more affordable, but you'll pay more out of pocket 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 Score89 | Annual Premium$ 65 |
Allstate | MoneyGeek Score71 | Annual Premium$ 95 |
COUNTRY Financial | MoneyGeek Score59 | Annual Premium$ 122 |
Chubb | MoneyGeek Score69 | Annual Premium$ 127 |
American Family | MoneyGeek Score59 | Annual Premium$ 143 |
Farmers | MoneyGeek Score50 | Annual Premium$ 150 |
It's important to choose a deductible amount that you can comfortably pay out-of-pocket if you need to file a claim. A higher deductible can lower your annual premium, leading to overall cost savings while still providing adequate coverage.
Best Renters Insurance for Customer Service in Centennial, CO
In Centennial, Colorado, Chubb is the winning best renters insurance company for service quality with an annual premium of $134. The following providers are the top two best providers in Centennial, 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 ($134 per year)
- American Family: MoneyGeek score of 87 out of 100 ($156 per year)
Great customer service is important for renters looking for insurance because it ensures a smooth process during claims. When you make a claim, having a responsive and helpful insurance provider can make a stressful situation more manageable.
In Centennial, Colorado, Chubb ranks first in customer satisfaction and coverage, making it the top choice for renters. With an annual premium of $134, it is the most affordable option available.
Chubb 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, ensuring you are protected wherever you go.
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 focused on customer service. Secondary factors considered include coverages and financial stability.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
Chubb | MoneyGeek Score93 | Annual Premium$ 134 |
American Family | MoneyGeek Score87 | Annual Premium$ 156 |
Auto-Owners Insurance | MoneyGeek Score83 | Annual Premium$ 56 |
State Farm | MoneyGeek Score82 | Annual Premium$ 67 |
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 Centennial, CO
Auto-Owners stands out as the best renters insurance company for those in Centennial, Colorado, who need high personal property coverage, with an annual premium of $118 for a policy with $100,000 in personal property coverage. High personal property coverage means having insurance protection for a large amount of personal belongings against potential losses. For $100K in personal property coverage, the top two best providers in Centennial are:
- Auto-Owners: MoneyGeek score of 92 out of 100 ($118 per year)
- State Farm: MoneyGeek score of 90 out of 100 ($157 per year)
Renters with a substantial number of possessions often require higher personal property coverage. This type of coverage safeguards your belongings from damage or theft. However, more comprehensive coverage typically means higher premiums. It's crucial to find an insurer that provides both reasonable costs and excellent service, especially when you have a considerable amount of items. Keep in mind, high-value items like jewelry or art may not be fully covered under a standard policy and could necessitate additional coverage to ensure full protection.
Auto-Owners ranks first in affordability and customer satisfaction for expensive homes in Centennial, Colorado, with an annual premium of $118.
Auto-Owners offers contents replacement cost, which covers the repair or replacement of your personal property without a deduction for depreciation. Additionally, their refrigerated products coverage under renters plus protects against spoiled refrigerated food. These coverages provide valuable protection for renters with expensive homes.
Offers contents replacement cost and back-up of sewer or drain coverages
Provides responsible payment and pay-in-full discounts
Ranks top in the city for coverage options
Ranks fifth in the city for customer satisfaction
To find the best renters insurance for those needing higher personal property limits, MoneyGeek's scoring system prioritizes customer satisfaction and affordability. Secondary factors include coverages and financial stability.
Auto-Owners Insurance | MoneyGeek Score92 | Annual Premium$ 118 |
State Farm | MoneyGeek Score90 | Annual Premium$ 157 |
COUNTRY Financial | MoneyGeek Score82 | Annual Premium$ 148 |
American Family | MoneyGeek Score80 | Annual Premium$ 274 |
Allstate | MoneyGeek Score77 | Annual Premium$ 233 |
Farmers | MoneyGeek Score73 | Annual Premium$ 273 |
Chubb | MoneyGeek Score60 | Annual Premium$ 547 |
If you own valuables such as fine jewelry or art, you would need additional coverage as these items are not usually covered by standard policies. Opt for a provider that offers scheduled personal property coverage, which extends coverage to such valuables.
Best Renters Insurance for Military Families in Centennial, CO
USAA is the top-ranked renters insurance company in Centennial, exclusively serving those with military backgrounds. The following providers are the top two best providers in Centennial for veterans for a policy with $20,000 in personal property coverage
- USAA: MoneyGeek score of 100 out of 100 ($96 per year)
- Auto-Owners Insurance: MoneyGeek score of 92 out of 100 ($56 per year)
USAA has discounts and coverages that fit the military lifestyle. It is also the cheapest provider in Centennial for military members.
USAA stands out in Centennial as the exclusive renters insurance provider for those with a military background, leading in customer satisfaction, coverage, and affordability with an annual premium of $96.
Included in USAA's policy are contents replacement cost and worldwide personal property coverages, which ensure that your belongings are protected, whether at home or abroad. The former replaces items at their current value, while the latter extends coverage globally, a significant advantage for military members who travel or are deployed.
Exclusively for those with military backgrounds
Offers contents replacement cost and worldwide personal property coverage
Provides claims free and military base or academy residence discounts
Ranks first in the city for both customer satisfaction and coverage options
Does not offer all common discounts and coverages
To identify the top renters insurance for veterans, MoneyGeek's scoring system prioritizes customer service and affordability. Secondary considerations include coverages and financial stability, tailoring to veterans' specific needs.
- $100K Personal Property
- $20K Personal Property
- $50K Personal Property
USAA | MoneyGeek Score100 | Annual Premium$ 96 |
Auto-Owners Insurance | MoneyGeek Score92 | Annual Premium$ 56 |
State Farm | MoneyGeek Score89 | Annual Premium$ 67 |
Allstate | MoneyGeek Score73 | Annual Premium$ 95 |
Chubb | MoneyGeek Score68 | Annual Premium$ 134 |
American Family | MoneyGeek Score57 | Annual Premium$ 156 |
COUNTRY Financial | MoneyGeek Score56 | Annual Premium$ 136 |
Farmers | MoneyGeek Score52 | Annual Premium$ 150 |
Best Renters Insurance for Low Credit Scores in Centennial, CO
The best renters insurance company for those with poor credit in Centennial is Chubb, with an annual premium of $229 for a policy with $20,000 in personal property coverage. The following providers are the top two best providers in Centennial for those with poor credit for the same type of policy:
- Chubb: MoneyGeek score of 95 out of 100 ($229 per year)
- State Farm: MoneyGeek score of 93 out of 100 ($134 per year)
Rates in Centennial for those with poor credit are often higher, as they pose a greater risk to providers. Providers view them as higher-risk because poor credit may indicate a history of late payments or financial instability. However, renters with poor credit can work on improving their credit to lower rates and should look for discounts wherever possible.
Chubb ranks first in affordability for renters insurance in Centennial, Colorado, with an annual premium of $229. It also holds the top spot for coverage. Renters can save more with Chubb's reasonably common discounts.
The protective device discount offers savings when your building has security features like a central station burglar alarm or fire-resistive construction. Additionally, the bundle discount provides a reduction on both homeowners and auto premiums when combined. These discounts can help renters with poor credit lower their insurance costs.
Ranks first in the city for coverage
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
- $50K Personal Property
Chubb | MoneyGeek Score95 | Annual Premium$ 229 |
State Farm | MoneyGeek Score93 | Annual Premium$ 134 |
American Family | MoneyGeek Score90 | Annual Premium$ 268 |
Allstate | MoneyGeek Score86 | Annual Premium$ 170 |
Farmers | MoneyGeek Score85 | Annual Premium$ 212 |
COUNTRY Financial | MoneyGeek Score84 | Annual Premium$ 203 |
Auto-Owners Insurance | MoneyGeek Score56 | Annual Premium$ 1,892 |
Average Cost of Renters Insurance in Centennial, CO
The average cost of renters insurance in Centennial, Colorado, is $113 annually or $9 monthly. This is slightly lower than the state average of $114 and significantly lower than the national average of $145. 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 Centennial may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings against risks like theft or damage. 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 Centennial
Various factors can influence the cost of renters insurance in Centennial, Colorado. For example, living in a high-crime area or selecting higher coverage limits can both increase your premiums. Understanding these factors is crucial when choosing a policy to ensure you get the best coverage at a reasonable price. Here are some key factors that affect renters insurance costs:
- Location: Living in a high-crime area can increase your premiums because insurers view these areas as higher risk.
- Coverage Amount: Higher coverage limits generally mean higher premiums, as you're insuring more valuable items.
- Deductibles: Lower deductibles often result in higher premiums since the insurer will have to cover more in the event of a claim.
- Claims History: A history of frequent claims can lead to higher rates as insurers may see you as a higher risk.
- Credit Score: Poor credit can result in higher premiums because insurers use credit scores to assess risk.
What Renters Insurance Covers in Centennial, CO
Renters insurance covers personal belongings, liability, and additional living expenses. It protects against theft, fire, and certain natural disasters. Purchasing renters insurance is important for financial protection and peace of mind. It ensures you are not left vulnerable in case of unexpected 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 Centennial
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 Centennial, CO
The best renters insurance provider for you in Centennial ultimately depends on your needs.
Below are some frequently asked questions to help you make an informed decision.
The average cost of renters insurance in Centennial, Colorado, is $113 annually.
The cheapest renters insurance company in Centennial, Colorado, is Auto-Owners with an annual premium of $56.
The best renters insurance company in Centennial, Colorado, for overall service is Auto-Owners with a MoneyGeek score of 92.
While not legally required, having renters insurance in Centennial, Colorado, is highly recommended to protect your personal property.
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.