Best and Cheapest Renters Insurance in Delaware (Sept 2024)


Updated: September 24, 2024

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State Farm is the best and cheapest for $20K in personal property coverage, with an average annual premium of $85 and a MoneyGeek score of 93 out of 100.

The best insurer depends on your needs. Travelers is excels in customer service, while Allstate is best for people with poor credit.

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Best Overall: State Farm

State Farm stands out as the best overall renters insurance provider in Delaware with a MoneyGeek score of 93 out of 100 and an average annual premium of $85.

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Cheapest: State Farm

State Farm is the cheapest renters insurance provider in Delaware, with an average annual premium of $85.

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Best Service: Travelers

Travelers is the best renters insurance provider for service quality, with a MoneyGeek score of 96 out of 100 and an average annual premium of $126.

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Best for Extra Personal Property: State Farm

State Farm is the best renters insurance provider for those who need extra personal property coverage of $100K, with a MoneyGeek score of 93 out of 100 and an average annual premium of $161.

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Best for Military: State Farm

State Farm is the best renters insurance provider for military members with a MoneyGeek score of 93 out of 100 and an average annual premium of $85.

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Best for Bad Credit: Allstate

Allstate is the best renters insurance provider for those with poor credit in Delaware, with a MoneyGeek score of 88 out of 100 and an average annual premium of $101.

Why Trust MoneyGeek? We used data from the Delaware Department of Insurance and Quadrant Information Services to determine the top renters insurance in Delaware.

Renters insurance premiums in Delaware are recent as of September 2024.

5,400Quotes Collected
 
3Cities Analyzed
 
3ZIP Codes

Overall Best Renters Insurance in Delaware

State Farm is the best renters insurance provider in Delaware with a MoneyGeek score of 93 out of 100 and an annual premium of $85 for $20K in personal property coverage. The following are the two best renters insurance providers in Delaware for the same policy:

  • State Farm: MoneyGeek score of 93 out of 100 ($85 per year)
  • Allstate: MoneyGeek score of 81 out of 100 ($101 per year)

State Farm has perfectly balanced customer satisfaction and affordability. However, the best option for you will still depend on your needs.

Company logo for State Farm
Best OverallState Farm
MoneyGeek Score:
93/ of 100

Overview

State Farm offers the best overall renters insurance in Delaware. It ranks first in affordability and customer satisfaction with an annual premium of $85.

State Farm provides uncommon coverage options like cyber event/ID theft. This add-on assists with identity restoration, a crucial safeguard as cyber threats escalate. Additionally, it offers an option to bundle renters insurance with auto insurance, allowing policyholders to streamline their coverage while potentially saving on premiums.

Best Renters Insurance in Delaware
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State FarmMoneyGeek Score93Annual Premium$ 85
AllstateMoneyGeek Score81Annual Premium$ 101
TravelersMoneyGeek Score80Annual Premium$ 126
NationwideMoneyGeek Score60Annual Premium$ 168
HomesiteMoneyGeek Score60Annual Premium$ 146

Cheapest Renters Insurance in Delaware

State Farm offers the cheapest renters insurance in Delaware, with an annual premium of $85 for $20K in personal property coverage and a $1,000 deductible. The following are the top two cheapest providers for the same coverage:

  • State Farm: $85 per year
  • Allstate: $101 per year

Personal property coverage helps safeguard belongings like furniture, electronics and clothing against covered risks. Less expensive renters insurance plans often include lower limits on personal property coverage. While this can keep your monthly costs down, opting for higher coverage limits gives you more financial protection for your possessions.

Cheapest Renters Insurance in Delaware
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State FarmAnnual Premium$ 85
AllstateAnnual Premium$ 101
TravelersAnnual Premium$ 126
HomesiteAnnual Premium$ 146
NationwideAnnual Premium$ 168
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QUALITY OVER COST

The best renters insurance company may cost more initially but lead to more savings over time with things like claims efficiency and broader coverages. We recommend investing in a plan that stands by you when you need it most.

Cheapest Renters Insurance by High Deductible in Delaware

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

  • State Farm: $185 per year
  • Allstate $101 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.

Cheapest High-Deductible Renters Insurance in Delaware
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
State FarmAnnual Premium$ 85
AllstateAnnual Premium$ 101
TravelersAnnual Premium$ 126
NationwideAnnual Premium$ 144
HomesiteAnnual Premium$ 146

Best Renters Insurance for Customer Service in Delaware

Travelers is the best renters insurance company for service quality in Delaware for $20K in personal property coverage, with an annual premium of $126. If you're seeking excellent customer service, the following providers are the top two best in Delaware:

  • Travelers: MoneyGeek score of 96 out of 100 ($126 per year)
  • Nationwide: MoneyGeek score of 96 out of 100 ($168 per year)

Great customer service can make a substantial difference to renters, especially during stressful times like making a claim. For instance, if you suddenly experience property loss or damage, a swift and empathetic response from your insurer can provide much-needed peace of mind.

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

Overview

Travelers ranks first in both customer satisfaction and coverage in Delaware, with an annual premium of $126.

Travelers' contents replacement cost coverage ensures that renters are compensated for the current retail prices of their lost or damaged items. Scheduled personal property coverage offers an additional layer of protection for valuables, guaranteeing renters can replace high-value items without financial strain.

Best Renters Insurance For Customer Service in Delaware
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 126
NationwideMoneyGeek Score96Annual Premium$ 168
State FarmMoneyGeek Score80Annual Premium$ 85
HomesiteMoneyGeek Score75Annual Premium$ 146
AllstateMoneyGeek Score70Annual Premium$ 101

Best Renters Insurance for Extra Personal Property in Delaware

State Farm offers the best renters insurance for those needing $100K of personal property coverage in Delaware, with an annual premium of $161. For the same policy, the top two best providers in Delaware are:

  • State Farm: MoneyGeek score of 93 out of 100 ($161 per year)
  • Travelers: MoneyGeek score of 88 out of 100 ($286 per year)

Personal property coverage protects your belongings, like furniture and electronics, from damage or theft. Higher coverage typically means higher premiums, making it crucial to find a provider that balances cost and quality service.

Company logo for State Farm
Best for Extra Personal PropertyState Farm
MoneyGeek Score:
93/ of 100

Overview

State Farm ranks first in Delaware for affordability and customer satisfaction. It offers extra personal property coverage, with an annual premium of $161.

State Farm provides $100K in personal property and $100K in liability coverage. These are especially beneficial for renters needing extra personal property coverage to safeguard expensive items such as electronics, jewelry, or collectibles.

Best Renters Insurance for Extra Personal Property Limits in Delaware
State FarmMoneyGeek Score93Annual Premium$ 161
TravelersMoneyGeek Score88Annual Premium$ 286
HomesiteMoneyGeek Score80Annual Premium$ 233
AllstateMoneyGeek Score71Annual Premium$ 364
NationwideMoneyGeek Score60Annual Premium$ 591

Best Renters Insurance for Military Members in Delaware

The best renters insurance company for those with military backgrounds in Delaware for $20K in personal property coverage is State Farm with an annual premium of $85. The following are the top two providers in Delaware:

  • State Farm: MoneyGeek score of 93 out of 100 ($85 per year)
  • Allstate: MoneyGeek score of 81 out of 100 ($101 per year)

For military members, finding the best provider means prioritizing both customer service and affordability. Balancing these factors is crucial due to the unique needs and lifestyle of military families.

Company logo for State Farm
Best for Military MembersState Farm
MoneyGeek Score:
93/ of 100

Overview

State Farm is the top renters insurance provider in Delaware for individuals with a military background. It earns the highest rank in customer satisfaction and affordability. Its annual premium is $85.

State Farm provides useful coverage options like personal property protection that ensures your valuable belongings are covered, providing peace of mind in case of damage or theft.

Best Renters Insurance for Military Members in Delaware
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State FarmMoneyGeek Score93Annual Premium$ 85
AllstateMoneyGeek Score81Annual Premium$ 101
TravelersMoneyGeek Score80Annual Premium$ 126
NationwideMoneyGeek Score60Annual Premium$ 168
HomesiteMoneyGeek Score60Annual Premium$ 146

Best Renters Insurance for Bad Credit in Delaware

Allstate is the best renters insurance company for those with poor credit in Delaware, with an annual premium of $101. The following are the top two best providers in Delaware for those with poor credit.

  • Allstate: MoneyGeek score of 88 out of 100 ($101 per year)
  • Nationwide: MoneyGeek score of 84 out of 100 ($168 per year)

Rates for those with poor credit are often higher, as they pose a greater risk to providers. These individuals are considered higher risk because they are statistically more likely to file claims. Those with poor credit can take steps to improve their credit to lower rates and take advantage of discounts where possible.

Company logo for Allstate
Best for Bad CreditAllstate
MoneyGeek Score:
88/ of 100

Overview

Allstate ranks first in affordability in Delaware, offering an annual premium of $101 based on a $20K personal property/ $100K liability policy.

Allstate provides two uncommon discounts: a senior discount and an automatic payment discount. The senior discount benefits retired renters aged 55 and older, lowering their premium costs. The automatic payment discount offers savings to renters who set up scheduled monthly payments, making it easier to manage and potentially reducing the overall cost.

Best Renters Insurance for Bad Credit in Delaware
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Credit Score:
Credit Score:Poor
AllstateMoneyGeek Score88Annual Premium$ 101
NationwideMoneyGeek Score84Annual Premium$ 168
State FarmMoneyGeek Score80Annual Premium$ 168
TravelersMoneyGeek Score77Annual Premium$ 213
HomesiteMoneyGeek Score50Annual Premium$ 289

Average Cost of Renters Insurance in Delaware

The average cost of renters insurance in Delaware is $125 annually, which is $10 per month, compared to the national average of $146 annually. These rates are based on a renters insurance policy with $20K personal property limits, $100K liability limits, and a $1,000 deductible.

Renters should note that the average cost of renters insurance in Delaware may vary greatly depending on the amount of personal property coverage you purchase. Use the tool below to get an estimate tailored to your needs.

Renters Insurance Calculator

MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.

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Rates updated:

Oct 08, 2024

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COMPARE QUOTES TO SAVE

Renters in Delaware can save money on renters insurance by comparing quotes among providers. For $20K in personal property and a $1,000 deductible, State Farm offers the lowest annual premium at $85, while Nationwide is the most expensive at $168. By shopping around, renters can save $83 annually or $7 monthly.

What Factors Impact Renters Insurance Costs in Delaware?

The cost of renters insurance in Delaware 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 typically 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 perceived risk.
  • Credit Score: Insurance companies may use your credit score to determine your premium, with higher scores often leading to lower costs.

How Much Personal Property Coverage Do You Need?

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of all the items you own, including their descriptions, values, and purchase dates. Follow these steps to create your personal inventory:

1. Categorize your items: Group your belongings into categories such as electronics, furniture, and clothing.
2. Document details: For each item, note its description, purchase date, and estimated value.
3. Take photos or videos: Visual documentation can be helpful for insurance claims.
4. Store receipts: Keep digital or physical copies of receipts for high-value items.
5. Secure your inventory: Store your inventory list in a safe place, such as a cloud storage service or a fireproof safe.

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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What Renters Insurance Typically Covers in Delaware

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

What Renters Insurance Typically Doesn't Cover

Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods or earthquakes typically falls outside standard policies. Here's what else is usually not included:

  • Natural Disasters: Standard policies often exclude events like floods and earthquakes.
  • High-Value Items: Expensive jewelry or electronics may exceed policy limits.
  • Business Equipment: Items used for business purposes may require additional coverage.
  • Roommate Property: Your policy does not cover your roommate's belongings.
  • Pest Damage: Infestations and damage from pests are generally not covered.
  • Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.

Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.

FAQ: Renters Insurance in Delaware

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

What is the cheapest renters insurance company in Delaware?
What is the best renters insurance company in Delaware?
How much does renters insurance cost in Delaware?
Is renters insurance required in Delaware?

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.