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


Updated: September 13, 2024

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The best renters insurance company in Murrieta, California, is Nationwide, with a MoneyGeek score of 90 and an average annual premium of $124 for $20,000 in personal property coverage. The cheapest is Allstate, with a MoneyGeek score of 91 and a yearly premium of $103.

The best homeowners insurance provider balances customer service and affordability. Other providers may be best depending on your needs, such as Travelers, which excels in service quality with an annual premium of $146. MoneyGeek also reviewed the best and cheapest renters insurance in California for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersMurrieta, CA
2024

Table of Contents

Why Trust MoneyGeek? We analyzed information from the California Department of Insurance and Quadrant Information Services to identify top-notch renters insurance options in Murrieta.

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

768Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Murrieta, CA

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

  • Nationwide: MoneyGeek score of 90 out of 100 ($124 per year)
  • State Farm: MoneyGeek score of 89 out of 100 ($121 per year)

Nationwide has an affordability score of 48 out of 55 and a customer satisfaction score of 28 out of 30, balancing cost and service quality.

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

Overview

Nationwide ranks first in Murrieta for coverages, with an annual premium of $124. It offers credit card forgery coverage, which financially protects against unauthorized transactions on credit and debit cards, forged checks and counterfeit money. Additionally, Nationwide’s theft from vehicles coverage provides extra protection for your valuables stored in or on any motor vehicle, trailer or watercraft.

Best Renters Insurance in Murrieta, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score90Annual Premium$ 124
State FarmMoneyGeek Score89Annual Premium$ 121
TravelersMoneyGeek Score87Annual Premium$ 146
AllstateMoneyGeek Score87Annual Premium$ 103
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 88
FarmersMoneyGeek Score77Annual Premium$ 159
ChubbMoneyGeek Score61Annual Premium$ 290

Cheapest Renters Insurance in Murrieta, CA

In Murrieta, Allstate offers the cheapest renters insurance, with an annual premium of $103 for $20,000 in personal property coverage.

  • Allstate: $103 per year
  • State Farm: $121 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 Murrieta, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
AllstateMoneyGeek Score91Annual Premium$ 103
State FarmMoneyGeek Score89Annual Premium$ 121
Capital Insurance GroupMoneyGeek Score89Annual Premium$ 88
NationwideMoneyGeek Score89Annual Premium$ 124
TravelersMoneyGeek Score85Annual Premium$ 146
FarmersMoneyGeek Score76Annual Premium$ 159
ChubbMoneyGeek Score49Annual Premium$ 290

Cheapest Renters Insurance With a High Deductible in Murrieta, CA

Murrieta residents looking for the cheapest renters insurance with $20,000 in personal property coverage and a $2,000 deductible may consider these top providers:

  • Capital Insurance Group: $69 per year
  • Nationwide: $98 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest. While a higher deductible can lower your premium, choosing an amount you can comfortably pay is crucial if you need to file a claim.

Cheapest High Deductible Renters Insurance in Murrieta, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 69
NationwideMoneyGeek Score91Annual Premium$ 98
AllstateMoneyGeek Score84Annual Premium$ 103
TravelersMoneyGeek Score89Annual Premium$ 118
State FarmMoneyGeek Score86Annual Premium$ 119
FarmersMoneyGeek Score74Annual Premium$ 156
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 maintaining adequate coverage.

Best Renters Insurance for Customer Service in Murrieta, CA

In Murrieta, Travelers is the best renters insurance company for service quality, with an average annual premium of $146 for $20,000 in personal property coverage.

  • Travelers: MoneyGeek score of 96 out of 100 ($146 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($124 per year)

Great customer service is crucial for renters, as it ensures a smooth experience, particularly when filing a claim. For instance, with a provider known for excellent service, you can expect quick, helpful responses that make the claims process less stressful. MoneyGeek evaluates insurers using J.D. Power surveys, which assess customer satisfaction with policy offerings, pricing, billing and claims handling.

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

Overview

Travelers ranks first in Murrieta for customer satisfaction and coverages, with an average annual premium of $146.

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 and fine art without requiring appraisals or item listings.

Best Renters Insurance For Service Quality in Murrieta, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 146
NationwideMoneyGeek Score95Annual Premium$ 124
ChubbMoneyGeek Score93Annual Premium$ 290
State FarmMoneyGeek Score86Annual Premium$ 121
AllstateMoneyGeek Score77Annual Premium$ 103
FarmersMoneyGeek Score77Annual Premium$ 159
Capital Insurance GroupMoneyGeek Score61Annual Premium$ 88

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

For $100,000 in personal property coverage, the top renters insurance providers in Murrieta are:

  • State Farm: MoneyGeek score of 94 out of 100 ($288 per year)
  • Travelers: MoneyGeek score of 92 out of 100 ($381 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:
94/ of 100

Overview

State Farm ranks highest for insuring expensive homes in Murrieta, with an annual premium of $288. It excels in affordability and customer satisfaction. Key benefits include cyber event/ID theft coverage for fraud protection. Bundling a policy with auto insurance can save renters up to $722 annually.

Best Renters Insurance for High Personal Property Limits in Murrieta, CA
State FarmMoneyGeek Score94Annual Premium$ 288
TravelersMoneyGeek Score92Annual Premium$ 381
NationwideMoneyGeek Score90Annual Premium$ 383
AllstateMoneyGeek Score88Annual Premium$ 312
FarmersMoneyGeek Score83Annual Premium$ 398
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 270
ChubbMoneyGeek Score61Annual Premium$ 934
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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 Murrieta, CA

The best providers in Murrieta for militayr families for a policy with $20,000 in personal property coverage are:

  • USAA: MoneyGeek score of 100 out of 100 ($141 per year)
  • Nationwide: MoneyGeek score of 90 out of 100 ($124 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. While other insurers might offer lower premiums, USAA's specialized benefits often make it a better choice for service 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 Murrieta, offering the best customer satisfaction and coverages for an annual premium of $141.

Tailored to military needs, USAA's coverages ensure financial protection for belongings both at home and abroad. The contents replacement cost coverage pays for new replacements for stolen or damaged items, and the worldwide personal property coverage protects personal property during deployments or overseas stays.

Best Renters Insurance for Military in Murrieta, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 141
NationwideMoneyGeek Score90Annual Premium$ 124
State FarmMoneyGeek Score89Annual Premium$ 121
TravelersMoneyGeek Score87Annual Premium$ 146
AllstateMoneyGeek Score87Annual Premium$ 103
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 88
FarmersMoneyGeek Score77Annual Premium$ 159
ChubbMoneyGeek Score61Annual Premium$ 290

Average Cost of Renters Insurance in Murrieta, CA

The average cost of renters insurance in Murrieta is $147 annually or about $12 monthly, slightly less than California's average of $148 and close to the national average of $145. These rates are for a policy with $20,000 in personal property limits, $100,000 in liability limits 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 Murrieta

Various elements can influence the cost of renters insurance in Murrieta. 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 Murrieta, CA

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 against damage or theft. For example, if a fire damages your apartment in California, your policy will help replace your furniture and electronics.
  • Personal liability coverage: Covers expenses if someone is injured in your rental unit or if you accidentally damage someone else's property. For example, if a guest slips and falls in your California apartment, this coverage can help with legal fees and medical bills.
  • Loss of use coverage: Pays for additional living expenses if your rental becomes uninhabitable due to a covered loss. For example, if an earthquake makes your California apartment unlivable, loss of use coverage can cover temporary housing 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 Murrieta

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

  • Natural disasters: Standard policies typically exclude damage from 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 Murrieta, CA

The best renters insurance provider in Murrieta depends on your needs. We address some frequently asked questions to help you make an informed decision.

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

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.