Best and Cheapest Renters Insurance in Centennial, CO (Sept 2024)


Updated: September 13, 2024

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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.

MoneyGeek Logo IconBest & CheapestRentersCentennial, CO
2024

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.

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Renters insurance premiums in Centennial represent the most competitive estimates as of September 2024.

2,880Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

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.

Company logo for Auto-Owners Insurance
Best OverallAuto-Owners Insurance
MoneyGeek Score:
92/ of 100

Overview

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.

Best Renters Insurance in Centennial, Colorado
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Auto-Owners InsuranceMoneyGeek Score92Annual Premium$ 56
State FarmMoneyGeek Score89Annual Premium$ 67
AllstateMoneyGeek Score73Annual Premium$ 95
ChubbMoneyGeek Score68Annual Premium$ 134
American FamilyMoneyGeek Score57Annual Premium$ 156
COUNTRY FinancialMoneyGeek Score56Annual Premium$ 136
FarmersMoneyGeek Score52Annual 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.

Cheapest Renters Insurance in Centennial, Colorado
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Auto-Owners InsuranceMoneyGeek Score96Annual Premium$ 56
State FarmMoneyGeek Score91Annual Premium$ 67
AllstateMoneyGeek Score73Annual Premium$ 95
ChubbMoneyGeek Score59Annual Premium$ 134
COUNTRY FinancialMoneyGeek Score52Annual Premium$ 136
American FamilyMoneyGeek Score45Annual Premium$ 156
FarmersMoneyGeek Score45Annual 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.

Cheapest High Deductible Renters Insurance in Centennial, Colorado
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Auto-Owners InsuranceMoneyGeek Score92Annual Premium$ 54
State FarmMoneyGeek Score89Annual Premium$ 65
AllstateMoneyGeek Score71Annual Premium$ 95
COUNTRY FinancialMoneyGeek Score59Annual Premium$ 122
ChubbMoneyGeek Score69Annual Premium$ 127
American FamilyMoneyGeek Score59Annual Premium$ 143
FarmersMoneyGeek Score50Annual Premium$ 150
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HOW TO SET YOUR DEDUCTIBLE

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.

Company logo for Chubb
Best Service QualityChubb
MoneyGeek Score:
93/ of 100

Overview

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.

Best Renters Insurance For Service Quality in Centennial, Colorado
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
ChubbMoneyGeek Score93Annual Premium$ 134
American FamilyMoneyGeek Score87Annual Premium$ 156
Auto-Owners InsuranceMoneyGeek Score83Annual Premium$ 56
State FarmMoneyGeek Score82Annual Premium$ 67
AllstateMoneyGeek Score71Annual Premium$ 95
FarmersMoneyGeek Score70Annual Premium$ 150
COUNTRY FinancialMoneyGeek Score66Annual 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.

Company logo for Auto-Owners Insurance
Best High Personal Property LimitAuto-Owners Insurance
MoneyGeek Score:
92/ of 100

Overview

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.

Best Renters Insurance for High Personal Property Limits in Centennial, Colorado
Auto-Owners InsuranceMoneyGeek Score92Annual Premium$ 118
State FarmMoneyGeek Score90Annual Premium$ 157
COUNTRY FinancialMoneyGeek Score82Annual Premium$ 148
American FamilyMoneyGeek Score80Annual Premium$ 274
AllstateMoneyGeek Score77Annual Premium$ 233
FarmersMoneyGeek Score73Annual Premium$ 273
ChubbMoneyGeek Score60Annual Premium$ 547
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SCHEDULED PERSONAL PROPERTY COVERAGE

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.

Company logo for USAA
Best for MilitaryUSAA
MoneyGeek Score:
100/ of 100

Overview

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.

Best Renters Insurance for Military in Centennial, Colorado
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 96
Auto-Owners InsuranceMoneyGeek Score92Annual Premium$ 56
State FarmMoneyGeek Score89Annual Premium$ 67
AllstateMoneyGeek Score73Annual Premium$ 95
ChubbMoneyGeek Score68Annual Premium$ 134
American FamilyMoneyGeek Score57Annual Premium$ 156
COUNTRY FinancialMoneyGeek Score56Annual Premium$ 136
FarmersMoneyGeek Score52Annual 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.

Company logo for Chubb
Best for Low Credit ScoresChubb
MoneyGeek Score:
95/ of 100

Overview

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.

Best Renters Insurance for Low Credit Scores in Centennial, Colorado
Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverage:
Coverage:$20K Personal Property
ChubbMoneyGeek Score95Annual Premium$ 229
State FarmMoneyGeek Score93Annual Premium$ 134
American FamilyMoneyGeek Score90Annual Premium$ 268
AllstateMoneyGeek Score86Annual Premium$ 170
FarmersMoneyGeek Score85Annual Premium$ 212
COUNTRY FinancialMoneyGeek Score84Annual Premium$ 203
Auto-Owners InsuranceMoneyGeek Score56Annual 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.

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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.
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COMMONLY COVERED PERILS

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.

How much is renters insurance in Centennial, Colorado, on average?
What is the cheapest renters insurance company in Centennial, Colorado?
What is the best renters insurance company in Centennial, Colorado?
Do I need renters insurance in Centennial, Colorado?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

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.