Best and Cheapest Renters Insurance in Corona, CA (Sept 2024)


Updated: September 13, 2024

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Nationwide is the best renters insurance company in Corona, California, with a MoneyGeek score of 92 and an average annual premium of $116. Capital Insurance Group is the cheapest renters insurance provider, with a MoneyGeek score of 89 and an average annual premium of $87. The best and cheapest quotes were derived using $20,000 in personal property coverage.

The best homeowners insurance provider should balance customer service with affordability. Travelers is the best in terms of service quality, with an annual premium of around $149. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersCorona, CA
2024

Table of Contents

Why Trust MoneyGeek? To determine the best renters insurance in Corona, California, we evaluated data from the California Department of Insurance and Quadrant Information Services.

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

768Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Corona, CA

Nationwide is the best renters insurance provider in Corona, California, with a MoneyGeek score of 92 out of 100 and an average annual premium of $116. The following are the top two best renters insurance providers in Corona for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible:

  • Nationwide: MoneyGeek score of 92 out of 100 ($116 per year)
  • Travelers: MoneyGeek score of 87 out of 100 ($149 per year)

Nationwide has perfectly balanced customer satisfaction and affordability, with an affordability score of 50 out of 55.

Company logo for Nationwide
Best OverallNationwide
MoneyGeek Score:
92/ of 100

Overview

Nationwide ranks first in coverage in Corona, California, with an annual premium of around $116. It offers coverage for credit card forgery, which pays for unauthorized transactions on your credit cards and bank debit/ATM cards. Additionally, its theft from vehicles coverage provides extended protection for personal belongings stored in or on any motor vehicle, trailer or watercraft.

Best Renters Insurance in Corona, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score92Annual Premium$ 116
TravelersMoneyGeek Score87Annual Premium$ 149
AllstateMoneyGeek Score86Annual Premium$ 111
State FarmMoneyGeek Score85Annual Premium$ 144
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 87
FarmersMoneyGeek Score76Annual Premium$ 167
ChubbMoneyGeek Score61Annual Premium$ 290

Cheapest Renters Insurance in Corona, CA

In Corona, California, Capital Insurance Group offers the cheapest renters insurance, with an average annual premium of $87 for $20,000 in personal property coverage. MoneyGeek rated the cheapest renters insurance in Corona with minimal consideration for customer service. The following providers are the top two cheapest in Corona for $20,000 in personal property coverage and a $1,000 deductible:

  • Capital Insurance Group: $87 per year
  • Allstate: $111 per year

Personal property coverage protects your belongings from damage or theft. Cheap renters insurance policies often have low personal property coverage limits. Higher personal property coverage limits can lead to higher monthly costs but provide better protection if you have many personal belongings.

Cheapest Renters Insurance in Corona, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score91Annual Premium$ 116
Capital Insurance GroupMoneyGeek Score89Annual Premium$ 87
AllstateMoneyGeek Score88Annual Premium$ 111
TravelersMoneyGeek Score84Annual Premium$ 149
State FarmMoneyGeek Score84Annual Premium$ 144
FarmersMoneyGeek Score74Annual Premium$ 167
ChubbMoneyGeek Score49Annual Premium$ 290

Cheapest Renters Insurance With a High Deductible Corona, CA

Capital Insurance Group offers the cheapest renters insurance in Corona, California, for a policy with $20,000 in personal property coverage and a $2,000 deductible at an average annual premium of $68. The following providers are the top two cheapest in Corona for $20,000 in personal property coverage and a $2,000 deductible:

  • Capital Insurance Group: $68 per year
  • Nationwide: $91 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest, and it can affect your rates. A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It’s important to balance both to ensure affordability and adequate coverage. If you need to file a claim, remember that a higher deductible means more out-of-pocket expenses before your insurance kicks in.

Cheapest High Deductible Renters Insurance in Corona, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 68
NationwideMoneyGeek Score93Annual Premium$ 91
AllstateMoneyGeek Score82Annual Premium$ 111
TravelersMoneyGeek Score89Annual Premium$ 120
State FarmMoneyGeek Score82Annual Premium$ 142
FarmersMoneyGeek Score72Annual Premium$ 163
ChubbMoneyGeek Score61Annual Premium$ 269
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HOW TO SET YOUR DEDUCTIBLE

Ensure your deductible is an amount you can comfortably pay out of pocket in case of a claim. Choosing a higher deductible can lower your annual premium and save you money overall while still offering adequate coverage.

Best Renters Insurance for Customer Service in Corona, CA

Travelers is the best renters insurance company for service quality in Corona, California, with an average annual premium of $149. The following providers are the top two best in Corona, California, for a policy with $20,000 in personal property coverage for those who value excellent customer service:

  • Travelers: MoneyGeek score of 96 out of 100 ($149 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($116 per year)

Great customer service is important for renters because it ensures a smooth experience when filing a claim. For instance, when you make a claim, you want quick and helpful responses to resolve your issues efficiently. MoneyGeek scores renters insurance providers based on customer satisfaction surveys by J.D. Power, which assess service quality and customer experiences.

Company logo for Travelers
Best Service QualityTravelers
MoneyGeek Score:
96/ of 100

Overview

Travelers ranks first in customer satisfaction, coverages and financial stability in Corona, California, with an average annual premium of $149. Travelers offers contents replacement cost, which covers personal property losses based on replacement cost without depreciation. This coverage ensures you get the full value of your items if they are damaged or stolen. Scheduled personal property coverage protects high-value items like jewelry, fine art and musical instruments from various losses. This coverage allows you to add higher limits to your policy, ensuring your valuable items are well-protected.

Best Renters Insurance for Service Quality in Corona, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 149
NationwideMoneyGeek Score95Annual Premium$ 116
ChubbMoneyGeek Score93Annual Premium$ 290
State FarmMoneyGeek Score86Annual Premium$ 144
AllstateMoneyGeek Score77Annual Premium$ 111
FarmersMoneyGeek Score77Annual Premium$ 167
Capital Insurance GroupMoneyGeek Score61Annual Premium$ 87

Best Renters Insurance for High Personal Property Limits in Corona, CA

Nationwide offers the best renters insurance in Corona, California, for those needing high personal property coverage, with an average annual premium of $354 for $100,000 in coverage. For $100K in personal property coverage, the top two best providers in Corona are:

  • Nationwide: MoneyGeek score of 92 out of 100 ($354 per year)
  • Travelers: MoneyGeek score of 92 out of 100 ($381 per year)

High personal property coverage refers to insurance that protects a substantial amount of personal belongings. Renters with a considerable number of possessions often require higher personal property coverage. This type of coverage ensures your belongings — from electronics to clothes — are protected against potential losses.

However, higher coverage levels typically come with higher premiums. It's important to find a provider that balances affordability and exemplary service, especially when you have numerous valuable items. Remember that high-value items like jewelry or art may need additional coverage to be fully protected.

Company logo for Nationwide
Best High Personal Property LimitNationwide
MoneyGeek Score:
92/ of 100

Overview

Nationwide ranks first in Corona for expensive homes due to its affordability and customer satisfaction. Its average annual premium is $354. It provides coverages like credit card forgery and theft from vehicles. Credit card forgery covers unauthorized transactions on your cards, protecting your finances. Theft from vehicles extends protection to personal belongings stored in your car, ensuring your valuables are safe.

Best Renters Insurance for High Personal Property Limits in Corona, CA
NationwideMoneyGeek Score92Annual Premium$ 354
TravelersMoneyGeek Score92Annual Premium$ 381
State FarmMoneyGeek Score89Annual Premium$ 385
AllstateMoneyGeek Score86Annual Premium$ 344
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 269
FarmersMoneyGeek Score81Annual Premium$ 431
ChubbMoneyGeek Score61Annual Premium$ 934
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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 Corona, CA

USAA is the top-ranked renters insurance company in Corona, exclusively serving those with military backgrounds. The following providers are the top two providers in Corona for veterans for a policy with $20,000 in personal property coverage.

  • USAA: MoneyGeek score of 100 out of 100 ($190 per year)
  • Nationwide: MoneyGeek score of 92 out of 100 ($116 per year)

USAA offers various products tailored to those with a military background, offering discounts and coverages that suit the military lifestyle. Although other insurers may have lower premiums, USAA's specialized offerings make it a better overall choice for service members in most cases.

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

Overview

USAA is the premier renters insurance provider for those with a military background in Corona, with an average annual premium of $190. It leads in customer satisfaction, coverages and affordability. It offers coverages like contents replacement cost, ensuring new-for-old replacements in case of loss. Its worldwide personal property coverage provides financial protection for deployed military members. These benefits underscore USAA's commitment to serving the unique needs of the military community.

Best Renters Insurance for Military in Corona, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 190
NationwideMoneyGeek Score92Annual Premium$ 116
TravelersMoneyGeek Score87Annual Premium$ 149
AllstateMoneyGeek Score86Annual Premium$ 111
State FarmMoneyGeek Score85Annual Premium$ 144
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 87
FarmersMoneyGeek Score76Annual Premium$ 167
ChubbMoneyGeek Score61Annual Premium$ 290

Average Cost of Renters Insurance in Corona, CA

The average cost of renters insurance in Corona, California, is $152 annually or $13 per month. This cost is slightly higher than the California state average of $148 and the national average of $145. These rates are based on a renters insurance policy with $20,000 in personal property limits, $100,000 in liability limits and a $1,000 deductible.

Renters should remember that the average cost of renters insurance in Corona may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of damage or theft. Use the calculator below to see how much coverage you need 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 Corona

The cost of renters insurance in Corona, California, 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 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 a higher perceived risk by insurance companies.
  • Credit Score: Insurance companies may factor in your credit history when determining your premium, with better credit records often leading to lower costs.

What Renters Insurance Covers in Corona, CA

Renters insurance covers personal property, liability and additional living expenses. It protects against theft, fire and other covered events. Purchasing renters insurance is important because it helps avoid unexpected costs and safeguards your belongings and finances. Below are the main areas renters insurance covers:

  • Personal Property Coverage: This covers your personal belongings from damage or theft. For example, if a fire damages your apartment in California, your renters insurance can help replace your belongings.
  • Personal Liability Coverage: This protects you if someone gets injured in your rental unit or if you accidentally damage someone else’s property. For instance, if a guest slips and falls in your California apartment, this coverage can help with their medical expenses.
  • Loss of Use Coverage: This helps cover additional living expenses if your rental becomes uninhabitable due to a covered event. For example, if a wildfire forces you out of your California home, loss of use coverage can help pay for temporary housing.
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COMMONLY COVERED PERILS

Renters insurance only covers specific circumstances, such as fire and theft. It's important to understand what circumstances are covered to ensure you're adequately protected. Below are some situations typically covered by renters insurance:

  • Fire
  • Theft
  • Vandalism
  • Water damage (excluding floods)
  • Smoke damage
  • Windstorms
  • Explosions

What Renters Insurance Does Not Cover in Corona

Renters insurance in Corona does not cover everything, such as flood and earthquake damage. Here are some common exclusions:

  • Flood Damage: Renters insurance does not cover damage caused by flooding.
  • Earthquake Damage: Renters insurance does not cover damage caused by earthquakes.

FAQ: Renters Insurance in Corona, CA

The best renters insurance provider for you in Corona, California, ultimately depends on your needs. We answered some frequently asked questions to help you make an informed decision.

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

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.