Best and Cheapest Renters Insurance in Montgomery, AL (Sept 2024)


Updated: September 13, 2024

Advertising & Editorial Disclosure

State Farm is the best and cheapest renters insurance company in Montgomery, Alabama, with a MoneyGeek score of 96 and an average annual premium of $141 for $20,000 in personal property coverage.

The best homeowners insurance balances service quality and affordability. Depending on your needs, other providers may be best, such as Travelers for service quality, which has an annual premium of $346. MoneyGeek also found the best and cheapest renters insurance in Alabama for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersMontgomery, AL
2024

Table of Contents

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

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

2,880Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Montgomery, AL

The best renters insurance providers in Montgomery for a policy with $20,000 in personal property coverage are:

  • State Farm: MoneyGeek score of 96 out of 100 ($141 per year)
  • Auto-Owners: MoneyGeek score of 92 out of 100 ($149 per year)

State Farm balances cost effectiveness with service quality, scoring perfectly for affordability (55 out of 55) and customer satisfaction (30 out of 30).

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

Overview

State Farm ranks first in Montgomery for affordability and customer satisfaction, with an average annual premium of $141. It offers cyber event/ID theft coverage, which pays for the costs of recovering your identity if it's stolen and includes identity restoration and fraud loss protection.

Best Renters Insurance in Montgomery, AL
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State FarmMoneyGeek Score96Annual Premium$ 141
Auto-Owners InsuranceMoneyGeek Score92Annual Premium$ 149
NationwideMoneyGeek Score86Annual Premium$ 200
COUNTRY FinancialMoneyGeek Score82Annual Premium$ 170
AllstateMoneyGeek Score65Annual Premium$ 277
TravelersMoneyGeek Score61Annual Premium$ 346
Foremost InsuranceMoneyGeek Score55Annual Premium$ 277

Cheapest Renters Insurance in Montgomery, AL

In Montgomery, State Farm offers the cheapest renters insurance at $141 annually for $20,000 in personal property coverage.

  • State Farm: $141 per year
  • Auto-Owners: $149 per year

Personal property coverage helps replace or repair your belongings if damaged, lost or stolen. Cheap renters insurance policies often have lower 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 Montgomery, AL
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State FarmMoneyGeek Score98Annual Premium$ 141
Auto-Owners InsuranceMoneyGeek Score95Annual Premium$ 149
COUNTRY FinancialMoneyGeek Score86Annual Premium$ 170
NationwideMoneyGeek Score83Annual Premium$ 200
AllstateMoneyGeek Score60Annual Premium$ 277
Foremost InsuranceMoneyGeek Score55Annual Premium$ 277
TravelersMoneyGeek Score49Annual Premium$ 346

Cheapest Renters Insurance With a High Deductible in Montgomery, AL

The cheapest renters insurance providers in Montgomery for $20,000 in personal property coverage with a $2,000 deductible are:

  • State Farm: $132 per year
  • Auto-Owners: $132 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest. Higher deductibles usually mean lower premiums, while lower deductibles result in higher premiums. Balancing these factors ensures adequate coverage when filing a claim. Renters should consider their financial situation and potential risks when selecting a deductible.

Cheapest High Deductible Renters Insurance in Montgomery, AL
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
State FarmMoneyGeek Score96Annual Premium$ 132
Auto-Owners InsuranceMoneyGeek Score93Annual Premium$ 132
COUNTRY FinancialMoneyGeek Score84Annual Premium$ 148
NationwideMoneyGeek Score89Annual Premium$ 167
Foremost InsuranceMoneyGeek Score54Annual Premium$ 250
AllstateMoneyGeek Score58Annual Premium$ 277
TravelersMoneyGeek Score61Annual Premium$ 300
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HOW TO SET YOUR DEDUCTIBLE

If you file a claim, choose a deductible amount that you can comfortably pay out of pocket. Opting for a higher deductible can lower your premium, leading to overall cost savings while maintaining adequate coverage.

Best Renters Insurance for Customer Service in Montgomery, AL

Travelers offers the best renters insurance for service quality in Montgomery, with an average annual premium of $346 for $20,000 in personal property coverage.

  • Travelers: MoneyGeek score of 95 out of 100 ($346 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($200 per year)

Great customer service is crucial for renters seeking insurance because it ensures a smooth and supportive experience, particularly during claims. Efficient service means your case is handled quickly and effectively, reducing stress and helping you recover faster. MoneyGeek evaluates insurers based on customer satisfaction from J.D. Power surveys, which assess satisfaction with policy offerings, price, billing and claims.

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

Overview

Travelers ranks first in customer satisfaction and coverages in Montgomery, with an annual premium of $346.

Travelers' contents replacement cost add-on covers personal property losses at full replacement value without deducting for depreciation. Its scheduled personal property coverage offers higher coverage limits for special items like jewelry, fine art, musical instruments and computers without requiring appraisals or item listings.

Best Renters Insurance For Service Quality in Montgomery, AL
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score95Annual Premium$ 346
NationwideMoneyGeek Score95Annual Premium$ 200
State FarmMoneyGeek Score87Annual Premium$ 141
Auto-Owners InsuranceMoneyGeek Score84Annual Premium$ 149
AllstateMoneyGeek Score75Annual Premium$ 277
COUNTRY FinancialMoneyGeek Score70Annual Premium$ 170
Foremost InsuranceMoneyGeek Score55Annual Premium$ 277

Best Renters Insurance for High Personal Property Limits in Montgomery, AL

State Farm offers the best renters insurance in Montgomery, with an annual premium of $317 for $100,000 in personal property coverage.

  • State Farm: MoneyGeek score of 96 out of 100 ($317 per year)
  • Auto-Owners: MoneyGeek score of 89 out of 100 ($400 per year)

Renters with many belongings need higher personal property coverage to financially protect items like furniture, electronics and clothing from theft, damage or loss. Higher coverage can increase premiums, so find a provider that balances cost with excellent service. High-value items like jewelry or art may need additional coverage beyond standard policies.

Company logo for State Farm
Best High Personal Property LimitState Farm
MoneyGeek Score:
96/ of 100

Overview

State Farm ranks first in Montgomery for affordability and customer satisfaction, making it the top choice for renters with expensive homes. With an annual premium of $317, it offers excellent value. State Farm provides key coverages like cyber event/ID theft protection, covering the costs of restoring your identity in case of fraud.

Best Renters Insurance for High Personal Property Limits in Montgomery, AL
State FarmMoneyGeek Score96Annual Premium$ 317
Auto-Owners InsuranceMoneyGeek Score89Annual Premium$ 400
NationwideMoneyGeek Score83Annual Premium$ 597
COUNTRY FinancialMoneyGeek Score81Annual Premium$ 444
Foremost InsuranceMoneyGeek Score66Annual Premium$ 599
TravelersMoneyGeek Score61Annual Premium$ 1,048
AllstateMoneyGeek Score58Annual Premium$ 936
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SCHEDULED PERSONAL PROPERTY COVERAGE

You need additional coverage if you own valuables like fine jewelry or art since standard policies often don't cover these items. Choose a provider offering scheduled personal property coverage to protect your high-value possessions.

Best Renters Insurance for Military Families in Montgomery, AL

For renters with military backgrounds in Montgomery, the top insurance providers for a policy with $20,000 in personal property coverage are:

  • USAA: MoneyGeek score of 100 out of 100 ($128 per year)
  • State Farm: MoneyGeek score of 96 out of 100 ($141 per year)

USAA offers products tailored to those with a military background, including discounts and coverages suited to the military lifestyle. While USAA isn't the cheapest in the city, its specialized offerings make it a strong choice for military members.

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

Overview

USAA is the top renters insurance provider for military members in Montgomery, leading in affordability, customer satisfaction and coverages. With an annual premium of $128, USAA offers affordability and comprehensive protection.

Its contents replacement cost coverage ensures that stolen or damaged items can be replaced with new ones. Additionally, its worldwide personal property coverage financially protects deployed military members, providing peace of mind even when abroad.

Best Renters Insurance for Veterans in Montgomery, AL
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 128
State FarmMoneyGeek Score96Annual Premium$ 141
Auto-Owners InsuranceMoneyGeek Score92Annual Premium$ 149
NationwideMoneyGeek Score86Annual Premium$ 200
COUNTRY FinancialMoneyGeek Score82Annual Premium$ 170
AllstateMoneyGeek Score65Annual Premium$ 277
TravelersMoneyGeek Score61Annual Premium$ 346
Foremost InsuranceMoneyGeek Score55Annual Premium$ 277

Best Renters Insurance for Low Credit Scores in Montgomery, AL

In Montgomery, Nationwide is the best renters insurance company for those with a poor credit score between 542 and 577. It offers an average annual premium of $333 for a policy with $20,000 in personal property coverage.

  • Nationwide: MoneyGeek score of 96 out of 100 ($333 per year)
  • State Farm: MoneyGeek score of 95 out of 100 ($309 per year)

Renters with poor credit often pay higher insurance rates due to the increased risk of claims and missed payments. Improving your credit score and using discounts can help lower these premiums over time.

Company logo for Nationwide
Best for Low Credit ScoresNationwide
MoneyGeek Score:
96/ of 100

Overview

For renters with poor credit in Montgomery, Nationwide ranks first for affordability, with an annual premium of $333.

The insurer offers credit card forgery coverage, which financially protects against unauthorized transactions on credit and debit cards, forged checks and counterfeit money. Its theft from vehicles coverage provides extra protection for your valuables stored in or on any motor vehicle, trailer or watercraft.

Best Renters Insurance for Low Credit Scores in Montgomery, AL
Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score96Annual Premium$ 333
State FarmMoneyGeek Score95Annual Premium$ 309
TravelersMoneyGeek Score90Annual Premium$ 1,096
COUNTRY FinancialMoneyGeek Score87Annual Premium$ 238
AllstateMoneyGeek Score86Annual Premium$ 589
Foremost InsuranceMoneyGeek Score75Annual Premium$ 788
Auto-Owners InsuranceMoneyGeek Score57Annual Premium$ 4,377

Average Cost of Renters Insurance in Montgomery, AL

Montgomery's average cost of renters insurance is $223 annually ($19 monthly), lower than Alabama's average of $261 but higher than the national average of $145. These rates are based on a policy with $20,000 in personal property limit, $100,000 in liability limit and a $1,000 deductible.

Renters insurance costs can vary depending on the amount of personal property coverage you choose. Consider using a personal property coverage calculator to estimate your needs and find a suitable policy.

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 Montgomery

The cost of renters insurance in Montgomery depends on several factors. Understanding them can help you find a policy that fits your budget and needs.

  • Location: Crime rates and weather risks in your area can affect your premium.
  • Coverage amount: Higher coverage limits increase your insurance costs.
  • Deductible: A higher deductible lowers your monthly premium but means higher out-of-pocket costs in a claim.
  • Claims history: A history of claims may lead to higher premiums due to increased perceived risk.
  • Credit score: A better credit record can result in lower premiums.

What Renters Insurance Covers in Montgomery, AL

Renters insurance covers personal property, liability and additional living expenses. It protects financially against theft, fire and other unforeseen events. Liability coverage helps in case of lawsuits for injuries or property damage.

Here's what renters insurance covers:

  • Personal property coverage: Protects your belongings like furniture and electronics against fire, theft or vandalism. For example, if a fire damages your apartment in Alabama, your renters insurance will cover the cost to replace your items.
  • Personal liability coverage: Covers legal and medical expenses if you're found responsible for injury or property damage to others. For instance, if a guest slips and falls in your Alabama rental, your insurance can cover their medical bill.
  • Loss of use coverage: Pays for additional living expenses if your rental becomes uninhabitable due to a covered event. For example, if a storm in Alabama damages your apartment and you need to stay in a hotel, loss of use coverage can help cover the costs.
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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 Montgomery

While renters insurance provides a financial safety net, it doesn't cover every situation:

  • Natural disasters: Standard policies typically exclude damage from earthquakes or floods.
  • Roommate's belongings: Personal property coverage usually doesn't extend to a roommate's possessions unless they're listed on the policy.
  • High-value items: Expensive items like jewelry or electronics may require additional coverage if their value exceeds the policy limit.
  • Business equipment: Property used for business purposes is generally not covered under standard renters insurance.
  • Pest damage: Damage from pests like bed bugs or rodents is usually not covered.
  • Car theft: While personal property stolen from your car may be covered, the theft of the vehicle itself is not.

FAQ: Renters Insurance in Montgomery, AL

Selecting the best renters insurance provider in Montgomery depends on your coverage needs and budget. Below are answers to frequently asked questions to help you make an informed decision.

How much is renters insurance in Montgomery, Alabama, on average?
What is the cheapest renters insurance company in Montgomery, AL?
What is the best renters insurance company in Montgomery, AL?
Do I need renters insurance in Montgomery, AL?

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.