Best and Cheapest Renters Insurance in Irvine, CA (September 2024)


Updated: September 12, 2024

The best and cheapest renters insurance company in Irvine, California is Nationwide, with a MoneyGeek score of 97 and an annual premium of $78. Depending on your needs, other providers may be best.

Travelers excels in service quality with an annual premium of $126. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

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MoneyGeek Logo IconBest & CheapestRentersIrvine, CA
2024

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

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

768Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Irvine, CA

The best renters insurance in Irvine, California is Nationwide with a MoneyGeek score of 97 out of 100 and an annual premium of $78. The following providers are the top two best renters insurance providers in Irvine for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.

  • Nationwide: MoneyGeek score of 97 out of 100 ($78 per year)
  • Travelers: MoneyGeek score of 88 out of 100 ($126 per year)

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

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

Overview

Nationwide ranks first in both affordability and coverage in California, with an annual premium of $78 in Irvine.

Nationwide offers uncommon coverages like credit card forgery and theft from vehicles. Credit card forgery coverage protects you against unauthorized transactions on your credit cards and bank debit/ATM cards, as well as forged checks and counterfeit money. Theft from vehicles coverage extends protection to your personal belongings stored in or on any motor vehicle, trailer or watercraft.

Best Renters Insurance in Irvine, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score97Annual Premium$ 78
TravelersMoneyGeek Score88Annual Premium$ 126
State FarmMoneyGeek Score86Annual Premium$ 121
AllstateMoneyGeek Score83Annual Premium$ 114
Capital Insurance GroupMoneyGeek Score78Annual Premium$ 99
FarmersMoneyGeek Score70Annual Premium$ 179
ChubbMoneyGeek Score61Annual Premium$ 260

Cheapest Renters Insurance in Irvine, CA

In Irvine, California, Nationwide offers the cheapest renters insurance with an annual premium of $78 for $20,000 in personal property coverage. The two cheapest providers, with minimal consideration for customer service, are:

  • Nationwide: $78 per year
  • Travelers: $126 per year

Personal property coverage protects your belongings against risks like theft, fire, and other perils. Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can lead to higher monthly costs but offer better protection if you have many personal belongings.

Cheapest Renters Insurance in Irvine, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score98Annual Premium$ 78
Capital Insurance GroupMoneyGeek Score83Annual Premium$ 99
AllstateMoneyGeek Score84Annual Premium$ 114
State FarmMoneyGeek Score86Annual Premium$ 121
TravelersMoneyGeek Score86Annual Premium$ 126
FarmersMoneyGeek Score65Annual Premium$ 179
ChubbMoneyGeek Score49Annual Premium$ 260

Cheapest Renters Insurance With a High Deductible Irvine, CA

In Irvine, California, Nationwide offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $61. The following providers are the top two cheapest providers in Irvine for $20,000 in personal property coverage and a $2,000 deductible:

  • Nationwide: $61 per year
  • Capital Insurance Group: $78 per year

A deductible is the amount you pay out of pocket before your insurance kicks in and 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 because a higher deductible can save you money on premiums but may cost you more if you need to file a claim.

Cheapest High Deductible Renters Insurance in Irvine, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
NationwideMoneyGeek Score97Annual Premium$ 61
Capital Insurance GroupMoneyGeek Score79Annual Premium$ 78
TravelersMoneyGeek Score90Annual Premium$ 102
AllstateMoneyGeek Score79Annual Premium$ 114
State FarmMoneyGeek Score83Annual Premium$ 119
FarmersMoneyGeek Score67Annual Premium$ 175
ChubbMoneyGeek Score61Annual Premium$ 240
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HOW TO SET YOUR DEDUCTIBLE

When selecting a deductible, make sure it's an amount you can pay comfortably out-of-pocket if you need to file a claim. Opting for a higher deductible can lower your premium, resulting in overall cost savings while still ensuring you have adequate coverage.

Best Renters Insurance for Customer Service in Irvine, CA

Travelers is the best renters insurance company for service quality in Irvine, California, with an annual premium of $126. The following providers are the top two best in Irvine for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability.

  • Travelers: MoneyGeek score of 96 out of 100 ($126 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($78 per year)

MoneyGeek scores renters insurance providers based on J.D. Power surveys, which measure customer satisfaction and service quality.

Great customer service is important for renters looking for insurance because it ensures a smooth and stress-free claims process. For example, when you make a claim, a provider with excellent customer service will handle your case promptly and efficiently, ensuring you get the support you need.

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

Overview

In Irvine, California, Travelers ranks first in customer satisfaction and coverage, making it the top choice for renters. With an annual premium of $126, it’s the cheapest option available. Travelers offers contents replacement cost coverage, which replaces personal property at its current value without depreciation. This is beneficial for renters because it ensures they can replace lost or damaged items without financial loss.

Additionally, the scheduled personal property coverage protects high-value items like jewelry and electronics, providing peace of mind without needing appraisals or item listings.

Best Renters Insurance for Service Quality in Irvine, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 126
NationwideMoneyGeek Score95Annual Premium$ 78
ChubbMoneyGeek Score93Annual Premium$ 260
State FarmMoneyGeek Score86Annual Premium$ 121
AllstateMoneyGeek Score77Annual Premium$ 114
FarmersMoneyGeek Score77Annual Premium$ 179
Capital Insurance GroupMoneyGeek Score61Annual Premium$ 99

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

Nationwide offers the best annual premium for high personal property coverage in Irvine, California, at $219 for a policy with $100,000 in coverage. The two best providers in Irvine are:

  • Nationwide: MoneyGeek score of 97 out of 100 ($219 per year)
  • State Farm: MoneyGeek score of 94 out of 100 ($239 per year)

High personal property coverage means insuring a significant amount of personal belongings against potential losses. When you own a substantial amount of personal items, higher personal property coverage is often necessary. This coverage protects belongings such as furniture, electronics, and clothing from theft, damage, or loss.

As coverage limits increase, so does the premium, which is why finding a provider that offers a good balance of cost and service is vital. Keep in mind that high-value items like jewelry or artwork may exceed standard policy limits and could require additional coverage.

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

Overview

Nationwide ranks first in affordability and customer satisfaction for renters with expensive homes in Irvine, with an annual premium of $219.

Nationwide offers valuable coverages like credit card forgery and theft from vehicles. Credit card forgery coverage protects against unauthorized transactions on your cards, while theft from vehicles coverage extends protection to personal belongings stored in your vehicle.

Best Renters Insurance for High Personal Property Limits in Irvine, CA
NationwideMoneyGeek Score97Annual Premium$ 219
State FarmMoneyGeek Score94Annual Premium$ 239
TravelersMoneyGeek Score91Annual Premium$ 330
AllstateMoneyGeek Score82Annual Premium$ 351
Capital Insurance GroupMoneyGeek Score77Annual Premium$ 305
FarmersMoneyGeek Score74Annual Premium$ 474
ChubbMoneyGeek Score61Annual Premium$ 795
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SCHEDULED PERSONAL PROPERTY COVERAGE

If you own valuables like jewelry or art, know that standard insurance policies often don't cover them. Choose a provider that offers scheduled personal property coverage to protect these items.

Best Renters Insurance for Military Families in Irvine, CA

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

  • USAA: MoneyGeek score of 100 out of 100 ($106 per year)
  • Nationwide: MoneyGeek score of 97 out of 100 ($78 per year)

USAA offers a range of products tailored for those with a military background, offering discounts and coverages that suit the military lifestyle. While Nationwide ranks first in affordability, USAA might be worth considering given how it tailors its offerings for those with a military background.

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

Overview

USAA stands out as the premier renters insurance provider for those with a military background in Irvine, leading in customer satisfaction and offering the most comprehensive coverage. With an annual premium of just $106, it's both affordable and reliable.

Contents replacement cost coverage ensures that in the event of theft or damage, policyholders can replace their belongings with new items. Additionally, worldwide personal property coverage offers peace of mind for deployed military members, protecting their possessions anywhere in the world.

Best Renters Insurance for Military in Irvine, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 106
NationwideMoneyGeek Score97Annual Premium$ 78
TravelersMoneyGeek Score88Annual Premium$ 126
State FarmMoneyGeek Score86Annual Premium$ 121
AllstateMoneyGeek Score83Annual Premium$ 114
Capital Insurance GroupMoneyGeek Score78Annual Premium$ 99
FarmersMoneyGeek Score70Annual Premium$ 179
ChubbMoneyGeek Score61Annual Premium$ 260

Average Cost of Renters Insurance in Irvine, CA

The average cost of renters insurance in Irvine, California is $139 annually, which breaks down to $12 monthly. This is $9 cheaper than the California state average of $148 and $6 cheaper 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 Irvine may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, damage, or loss. 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 Irvine

The cost of renters insurance in Irvine, 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 the event 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 Irvine, CA

Renters insurance primarily provides coverage for your personal belongings, but it also covers additional areas such as liability and living expenses if your rental is rendered uninhabitable. Here’s what a typical policy includes:

  • Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter in Texas 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 Texas renter could use this coverage if a guest slips and falls in their apartment.
  • Loss of Use Coverage: This 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 Irvine

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: Although personal property stolen from your car may be covered, the theft of the car itself is not.

FAQ: Renters Insurance in Irvine, CA

The best renters insurance provider for you in Irvine ultimately depends on your needs. Below, we address some common questions to help you make an informed decision.

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