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


Updated: September 13, 2024

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The best renters insurance company in Moreno Valley, California is Nationwide with a MoneyGeek score of 91 and an annual premium of $116. The cheapest provider is Capital Insurance Group with a MoneyGeek score of 89 and an annual premium of $86. The best provider should balance customer service with affordability. For service quality, Travelers excels with an annual premium of $147. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersMoreno Valley
2024

Table of Contents

Why Trust MoneyGeek? We sourced information from the California Department of Insurance and Quadrant Information Services in Moreno Valley to pinpoint top-notch renters insurance options in California.

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

768Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Moreno Valley, CA

The best renters insurance in Moreno Valley, California, is Nationwide, with a MoneyGeek score of 91 out of 100 and an annual premium of $116. The following providers are the top two best renters insurance providers in Moreno Valley for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.

  • Nationwide: MoneyGeek score of 91 out of 100 ($116 per year)
  • State Farm: MoneyGeek score of 89 out of 100 ($121 per year)

Nationwide perfectly balances customer satisfaction and affordability.

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

Overview

Nationwide ranks first in coverage in Moreno Valley, California, with an annual premium of $116.
Nationwide offers credit card forgery and theft from vehicles coverages. Credit card forgery coverage protects against unauthorized transactions on credit cards and bank debit/ATM cards. Theft from vehicles coverage provides protection for personal belongings stored in or on any motor vehicle, trailer, or watercraft.

Best Renters Insurance in Moreno Valley, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score91Annual Premium$ 116
State FarmMoneyGeek Score89Annual Premium$ 121
TravelersMoneyGeek Score87Annual Premium$ 147
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 86
AllstateMoneyGeek Score81Annual Premium$ 139
FarmersMoneyGeek Score72Annual Premium$ 184
ChubbMoneyGeek Score61Annual Premium$ 290

Cheapest Renters Insurance in Moreno Valley, CA

In Moreno Valley, California, Capital Insurance Group offers the cheapest renters insurance with an annual premium of $86 for $20,000 in personal property coverage. The following providers are the top two cheapest providers in Moreno Valley for $20,000 in personal property coverage and a $1,000 deductible, and MoneyGeek rated the cheapest renters insurance in Moreno Valley with minimal consideration for customer service.

  • Capital Insurance Group: $86 per year
  • Nationwide: $116 per year

Personal property coverage protects your belongings from damage or theft. Cheap renters insurance policies often have lower personal property coverage limits. Higher coverage limits may increase monthly costs but offer better protection if you own many personal belongings.

Cheapest Renters Insurance in Moreno Valley, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score90Annual Premium$ 116
Capital Insurance GroupMoneyGeek Score89Annual Premium$ 86
State FarmMoneyGeek Score89Annual Premium$ 121
TravelersMoneyGeek Score84Annual Premium$ 147
AllstateMoneyGeek Score81Annual Premium$ 139
FarmersMoneyGeek Score69Annual Premium$ 184
ChubbMoneyGeek Score49Annual Premium$ 290

Cheapest Renters Insurance With a High Deductible Moreno Valley, CA

In Moreno Valley, California, Capital Insurance Group 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 $67. A deductible is the amount you pay out of pocket before your insurance kicks in, and it can affect your rates. The following providers are the top two cheapest providers in Moreno Valley:

  • Capital Insurance Group: $67 per year
  • Nationwide: $91 per year

A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It's important to balance both to ensure you're not overpaying for coverage but also not left with too high out-of-pocket costs if you need to file a claim.

Cheapest High Deductible Renters Insurance in Moreno Valley, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 67
NationwideMoneyGeek Score92Annual Premium$ 91
TravelersMoneyGeek Score89Annual Premium$ 119
State FarmMoneyGeek Score86Annual Premium$ 119
AllstateMoneyGeek Score77Annual Premium$ 139
FarmersMoneyGeek Score69Annual Premium$ 180
ChubbMoneyGeek Score61Annual Premium$ 269
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HOW TO SET YOUR DEDUCTIBLE

When selecting a deductible for your insurance policy, ensure it's an amount you can pay out of pocket if you need to file a claim. If you can afford it, opting for a higher deductible could decrease your annual premiums, leading to savings over time while still providing the financial protection you need.

Best Renters Insurance for Customer Service in Moreno Valley, CA

In Moreno Valley, California, the best renters insurance company for service quality is Travelers with an annual premium of $147. The following providers are the top two best in Moreno Valley 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 ($147 per year
  • Nationwide: MoneyGeek score of 95 out of 100 ($116 per year)

Great customer service is important for renters looking for insurance because it ensures a smooth experience when filing claims. For example, when you make a claim, excellent customer service can mean faster processing and clearer communication. MoneyGeek scores renters insurance providers based on J.D. Power surveys, which measure customer satisfaction and service quality.

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

Overview

Travelers ranks first in customer satisfaction and coverages in Moreno Valley, California, with an annual premium of $147.
Travelers offers contents replacement cost coverage, which reimburses you for the full replacement cost of your belongings without depreciation. This means if your items are damaged or stolen, you can replace them at current market value.
Additionally, their scheduled personal property coverage protects high-value items like jewelry and fine art from a wide range of losses. This coverage allows you to add higher limits to your policy without needing appraisals or item listings.

Best Renters Insurance For Service Quality in Moreno Valley, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 147
NationwideMoneyGeek Score95Annual Premium$ 116
ChubbMoneyGeek Score93Annual Premium$ 290
State FarmMoneyGeek Score86Annual Premium$ 121
AllstateMoneyGeek Score77Annual Premium$ 139
FarmersMoneyGeek Score77Annual Premium$ 184
Capital Insurance GroupMoneyGeek Score61Annual Premium$ 86

Best Renters Insurance for High Personal Property Limits in Moreno Valley, CA

For Moreno Valley renters requiring substantial personal property coverage, State Farm stands out with an annual premium of $288 for a policy with $100,000 in personal property coverage. High personal property coverage ensures your numerous and valuable belongings are protected under your renters insurance policy. In Moreno Valley, the top two providers are:

  • State Farm: MoneyGeek score of 94 out of 100 ($288 per year)
  • Travelers: MoneyGeek score of 93 out of 100 ($365 per year)

Renters with a significant number of possessions often need higher personal property coverage. This coverage safeguards your belongings from potential risks like theft or damage. While higher coverage usually comes with a higher price tag, it's important to find a provider who offers both reasonable costs and excellent service. High-value items such as jewelry or art may exceed standard coverage limits and could require additional insurance.

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

Overview

State Farm ranks first in affordability and customer satisfaction for expensive homes in Moreno Valley, with an annual premium of $288.
State Farm offers cyber event / ID theft coverage, which helps renters restore their identity in case of cyber events or fraud.

This coverage can save renters from significant financial and emotional stress. Additionally, the company provides earthquake damage coverage, essential for California residents, protecting homes from seismic activities.

Best Renters Insurance for High Personal Property Limits in Moreno Valley, California
State FarmMoneyGeek Score94Annual Premium$ 288
TravelersMoneyGeek Score93Annual Premium$ 365
NationwideMoneyGeek Score92Annual Premium$ 354
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 265
AllstateMoneyGeek Score81Annual Premium$ 434
FarmersMoneyGeek Score77Annual Premium$ 495
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 Famlies in Moreno Valley, CA

In Moreno Valley, USAA is the top-ranked renters insurance company for those with military backgrounds, with an annual premium of $171. The following providers are the top two best providers in Moreno Valley for a policy with $20,000 in personal property coverage.

  • USAA: MoneyGeek score of 100 out of 100 ($171 per year)
  • Nationwide: MoneyGeek score of 91 out of 100 ($116 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverage that suit the military lifestyle. It is also the cheapest option in Moreno Valley for military members.

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 Moreno Valley. With an average annual premium of $171, USAA provides affordability and comprehensive financial protection.

It offers contents replacement cost, which covers the cost of replacing belongings with brand-new ones in the event of theft or damage. It also has worldwide personal property coverage, providing peace of mind for military members at home or abroad.

Best Renters Insurance for Military in Moreno Valley, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 171
NationwideMoneyGeek Score91Annual Premium$ 116
State FarmMoneyGeek Score89Annual Premium$ 121
TravelersMoneyGeek Score87Annual Premium$ 147
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 86
AllstateMoneyGeek Score81Annual Premium$ 139
FarmersMoneyGeek Score72Annual Premium$ 184
ChubbMoneyGeek Score61Annual Premium$ 290

Average Cost of Renters Insurance in Moreno Valley, CA

The average cost of renters insurance in Moreno Valley, California is $155 annually, which breaks down to $13 monthly. This is slightly higher than the California state average of $148 and the national average of $145.

Moreno Valley's average premium is $7 more annually than the state average and $10 more than the national average. 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 Moreno Valley may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, fire, or other covered events. 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 Moreno Valley

Renters insurance costs in Moreno Valley, California, can be influenced by several factors. For example, the location's crime rates and weather risks can impact premiums. Additionally, the amount of coverage you choose will affect your costs.

  • Location: Living in high-crime areas can increase premiums due to the higher risk of theft or vandalism. Conversely, safer neighborhoods may have lower rates.
  • Coverage Amount: The more coverage you need, the higher your premium will be. This is because the insurer's risk increases with the amount of coverage.
  • Deductible: A higher deductible can lower your premium. However, this means you will pay more out-of-pocket in the event of a claim.
  • Credit Score: Insurers often use credit scores to assess risk. Poor credit can result in higher premiums, while good credit may lower your costs.
  • Claims History: A history of frequent claims can lead to higher premiums. Insurers view a history of claims as an indicator of higher risk.

What Renters Insurance Covers in Moreno Valley, CA

Renters insurance covers your personal property, liability, and additional living expenses. It protects against theft, fire, and certain natural disasters.

  • Personal Property Coverage: This protects your belongings from risks like fire or theft. For example, if a wildfire damages your apartment in California, this coverage helps replace your items.
  • Personal Liability Coverage: This covers legal expenses if someone is injured in your rental. For instance, if a guest slips and falls in your California home, this coverage can help with medical bills and legal fees.
  • Loss Of Use Coverage: This helps with additional living expenses if your rental becomes uninhabitable. If an earthquake renders your California apartment unlivable, loss of use coverage can pay for temporary housing.
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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 Moreno Valley

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 Moreno Valley, CA

The best renters insurance provider depends on your unique needs. We answered the frequently asked questions to help you make an informed decision.

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