Best and Cheapest Renters Insurance in Peoria, AZ (September 2024)


Updated: September 12, 2024

The best and cheapest renters insurance company in Peoria, Arizona, is Auto-Owners, with a MoneyGeek score of 94 and an annual premium of $119. Depending on your needs, other providers may be best, like Nationwide for service quality with an annual premium of $135.

We also looked into the best and cheapest renters insurance in Arizona for those who live elsewhere in the state.

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MoneyGeek Logo IconBest & CheapestRentersPeoria, AZ
2024

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

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

2,880Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Peoria, AZ

The best renters insurance in Peoria, Arizona, is Nationwide with a MoneyGeek score of 89 out of 100 and an annual premium of $135. The following providers are the two best renters insurance providers in Peoria for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible:

  • Nationwide: MoneyGeek score of 89 out of 100 ($135 per year)
  • Auto-Owners: MoneyGeek score of 88 out of 100 ($119 per year)

Nationwide has perfectly balanced customer satisfaction and affordability with an affordability score of 52 out of 55.

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

Overview

Nationwide ranks first in coverage in Peoria, Arizona, with an annual premium of $135. Renters can benefit from uncommon coverages like credit card forgery and theft from vehicles. Credit card forgery coverage pays for unauthorized transactions on your credit cards and bank debit/ATM card, 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 Peoria, AZ
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score89Annual Premium$ 135
Auto-Owners InsuranceMoneyGeek Score88Annual Premium$ 119
American FamilyMoneyGeek Score85Annual Premium$ 155
AllstateMoneyGeek Score84Annual Premium$ 119
State FarmMoneyGeek Score77Annual Premium$ 192
TravelersMoneyGeek Score75Annual Premium$ 212
FarmersMoneyGeek Score49Annual Premium$ 311

Cheapest Renters Insurance in Peoria, AZ

In Peoria, Arizona, Auto-Owners offers the cheapest renters insurance with an annual premium of $119 for $20,000 in personal property coverage. The two cheapest providers are:

  • Auto-Owners: $119 per year
  • Allstate: $119 per year

Personal property coverage helps protect your belongings against risks like theft or damage. Cheap renters insurance policies often have low personal property coverage limits. While higher personal property coverage limits can lead to higher monthly costs, they offer better protection if you have many personal belongings.

Cheapest Renters Insurance in Peoria, AZ
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Auto-Owners InsuranceMoneyGeek Score94Annual Premium$ 119
AllstateMoneyGeek Score91Annual Premium$ 119
NationwideMoneyGeek Score91Annual Premium$ 135
American FamilyMoneyGeek Score85Annual Premium$ 155
State FarmMoneyGeek Score76Annual Premium$ 192
TravelersMoneyGeek Score72Annual Premium$ 212
FarmersMoneyGeek Score41Annual Premium$ 311

Cheapest Renters Insurance With a High Deductible Peoria, AZ

In Peoria, Arizona, 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 $115. The two cheapest providers are:

  • Nationwide: $115 per year
  • Auto-Owners: $116 per year

A deductible is the amount you pay out of pocket before your insurance coverage kicks in and can affect your insurance rates. A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It's important to balance both to ensure you are adequately covered if you need to file a claim.

Cheapest High Deductible Renters Insurance in Peoria, AZ
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
NationwideMoneyGeek Score92Annual Premium$ 115
Auto-Owners InsuranceMoneyGeek Score88Annual Premium$ 116
AllstateMoneyGeek Score83Annual Premium$ 119
American FamilyMoneyGeek Score86Annual Premium$ 146
TravelersMoneyGeek Score79Annual Premium$ 181
State FarmMoneyGeek Score76Annual Premium$ 184
FarmersMoneyGeek Score49Annual Premium$ 288
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HOW TO SET YOUR DEDUCTIBLE

When choosing a deductible, make sure it's an amount you can pay out-of-pocket if you need to file a claim. This will help you avoid financial stress during unexpected events.

Opting for a higher deductible can lower your annual premium, leading to overall cost savings while still providing adequate coverage.

Best Renters Insurance for Customer Service in Peoria, AZ

In Peoria, Arizona, Travelers stands out as the best renters insurance company for service quality with an annual premium of $212. The following providers are the two best providers in Peoria, Arizona for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability.

  • Travelers: MoneyGeek score of 85 out of 100 ($212 per year)
  • Nationwide: MoneyGeek score of 84 out of 100 ($135 per year)

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

Great customer service is essential for renters because it ensures a smooth and efficient claims process. When you make a claim, excellent customer service can make the difference between a stressful experience and a hassle-free resolution.

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

Overview

In Peoria, Arizona, Amica came out on top for customer satisfaction and coverage options. It also has an affordable average annual premium of $103. Its contents replacement cost coverage ensures full repair or replacement of personal items, while identity fraud protection reimburses you for identity theft issues, safeguarding your financial integrity.

Best Renters Insurance for Service Quality in Peoria, AZ
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score85Annual Premium$ 212
NationwideMoneyGeek Score84Annual Premium$ 135
American FamilyMoneyGeek Score83Annual Premium$ 155
State FarmMoneyGeek Score77Annual Premium$ 192
Auto-Owners InsuranceMoneyGeek Score72Annual Premium$ 119
FarmersMoneyGeek Score68Annual Premium$ 311
AllstateMoneyGeek Score63Annual Premium$ 119

Best Renters Insurance for High Personal Property Limits in Peoria, AZ

For renters in Peoria, Arizona seeking substantial personal property coverage, American Family stands out with an annual premium of $229 for policies with $100,000 in coverage. The top two providers are:

  • American Family: MoneyGeek score of 92 out of 100 ($229 per year)
  • Nationwide: MoneyGeek score of 90 out of 100 ($268 per year)

High personal property coverage ensures renters' valuable possessions are protected against potential losses. Renters with a significant number of possessions often need more comprehensive personal property coverage. This coverage safeguards items like furniture, electronics, and clothing from damage or theft.

However, higher coverage levels typically come at increased costs. It's crucial to choose a provider that offers a good balance of affordability and exceptional service, especially when you own numerous items. For high-value possessions such as jewelry or artwork, standard policies may not suffice, and additional coverage could be necessary.

Company logo for American Family Insurance
Best High Personal Property LimitAmerican Family Insurance
MoneyGeek Score:
92/ of 100

Overview

American Family ranks first in Peoria for affordability and customer satisfaction for renters with expensive homes, with an annual premium of $229.

American Family offers Equipment Breakdown coverage, protecting gadgets, gaming systems, and smart home devices from sudden mechanical or electrical breakdowns. Additionally, back-up of sewer or drain coverage helps cover repair costs from water damage caused by backed-up drains or overflowing sumps, ensuring peace of mind for renters with expensive homes.

Best Renters Insurance for High Personal Property Limits in Peoria, AZ
American FamilyMoneyGeek Score92Annual Premium$ 229
NationwideMoneyGeek Score90Annual Premium$ 268
State FarmMoneyGeek Score84Annual Premium$ 394
Auto-Owners InsuranceMoneyGeek Score84Annual Premium$ 336
TravelersMoneyGeek Score81Annual Premium$ 523
AllstateMoneyGeek Score79Annual Premium$ 354
FarmersMoneyGeek Score49Annual Premium$ 1,140
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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 Families in Peoria, AZ

In Peoria, USAA ranks first among renters insurance companies for those with military backgrounds, with an annual premium of $112. USAA is exclusively for military members and their families. The following providers are the two best providers in Peoria for veterans for a policy with $20,000 in personal property coverage:

  • USAA: MoneyGeek score of 100 out of 100 ($112 per year)
  • Nationwide: MoneyGeek score of 89 out of 100 ($135 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. USAA ranks first in affordability for military members in Peoria, so it might be worth considering given its tailored offerings.

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

Overview

USAA is the premier renters insurance provider for those with a military background in Peoria, leading in customer satisfaction, coverage and affordability. With an annual premium of $112, it's an excellent choice for comprehensive protection. Contents replacement cost coverage ensures that in the event of theft or damage, you can replace your belongings without depreciation costs.

Additionally, worldwide personal property coverage offers peace of mind for deployed military members, covering personal items anywhere in the world. These benefits underscore USAA's commitment to serving the unique needs of the military community.

Best Renters Insurance for Military in Peoria, AZ
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 112
NationwideMoneyGeek Score89Annual Premium$ 135
Auto-Owners InsuranceMoneyGeek Score88Annual Premium$ 119
American FamilyMoneyGeek Score85Annual Premium$ 155
AllstateMoneyGeek Score84Annual Premium$ 119
State FarmMoneyGeek Score77Annual Premium$ 192
TravelersMoneyGeek Score75Annual Premium$ 212
FarmersMoneyGeek Score49Annual Premium$ 311

Best Renters Insurance for Low Credit Scores in Peoria, AZ

The best renters insurance company for those with poor credit in Peoria is Nationwide, with an annual premium of $214 for a policy with $20,000 in personal property coverage. The top two providers in Peoria for renters with poor credit for the same type of policy are:

  • Nationwide: MoneyGeek score of 92 out of 100 ($214 per year)
  • American Family: MoneyGeek score of 91 out of 100 ($273 per year)

Rates in Peoria for those with poor credit are often higher because they are viewed as a greater risk to providers. To potentially lower these rates, it is advisable to work on improving your credit and to explore discounts that may be available to you.

Best for Low Credit Scores
MoneyGeek Score:
92/ of 100

Overview

Nationwide ranks first in affordability for renters with poor credit in Peoria, Arizona, with an annual premium of $214. Renters can save more with Nationwide’s claims free discount, which offers better rates for those with no claims on their policy. Additionally, the protective device discount lowers premiums if your home has smoke detectors, fire alarms or burglar alarms.

Best Renters Insurance for Low Credit Scores in Peoria, AZ
Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score92Annual Premium$ 214
American FamilyMoneyGeek Score91Annual Premium$ 273
State FarmMoneyGeek Score89Annual Premium$ 398
TravelersMoneyGeek Score88Annual Premium$ 650
AllstateMoneyGeek Score84Annual Premium$ 183
FarmersMoneyGeek Score81Annual Premium$ 690
Auto-Owners InsuranceMoneyGeek Score51Annual Premium$ 3,957

Average Cost of Renters Insurance in Peoria, AZ

The average cost of renters insurance in Peoria, Arizona, is $178 annually, which breaks down to $15 monthly. This is lower than the state average of $195. Compared with the national average of $145, Peoria's rate is still relatively affordable. 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 Peoria 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 Peoria

The cost of renters insurance in Peoria, Arizona, 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 Peoria, AZ

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 Peoria

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 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 Peoria, AZ

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

How much is renters insurance in Peoria, Arizona, on average?
What is the cheapest renters insurance company in Peoria, Arizona?
What is the best renters insurance company in Peoria, Arizona?
Do I need renters insurance in Peoria, Arizona?

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.