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


Updated: September 13, 2024

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The best renters insurance company in Riverside, California is Nationwide, with a MoneyGeek score of 91 and an annual premium of $117. The cheapest renters insurance provider in Riverside, California is Capital Insurance Group, with a MoneyGeek score of 89 and an annual premium of $86.

The best homeowners insurance provider should offer a balance of customer service with affordability.
Depending on your needs, other providers may be best. For example, Travelers excels in service quality with a MoneyGeek score of 96 and an annual premium of $150. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersRiverside, CA
2024

Table of Contents

Why Trust MoneyGeek? To determine the top renters insurance options in Riverside, California, we utilized data from the California Department of Insurance and Quadrant Information Services.

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

786Quotes Analyzed
 
8Providers Analyzed
 
3ZIP Codes

Overall Best Renters Insurance in Riverside, CA

The best renters insurance in Riverside, California, is Nationwide, with a MoneyGeek score of 91 out of 100 and an annual premium of $117. The following providers are the top two best renters insurance providers in Riverside 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 ($117 per year)
  • State Farm: MoneyGeek score of 87 out of 100 ($133 per year)

The best provider in the state balances both cost and affordability. Nationwide has perfectly balanced customer satisfaction and affordability, with an affordability score of 49 out of 55.

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

Overview

Nationwide ranks first in Coverage in Riverside, California, with an annual premium of $117. 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, ensuring your valuables are safeguarded.

Best Renters Insurance in Riverside, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score91Annual Premium$ 117
State FarmMoneyGeek Score87Annual Premium$ 133
TravelersMoneyGeek Score87Annual Premium$ 150
AllstateMoneyGeek Score85Annual Premium$ 116
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 86
FarmersMoneyGeek Score72Annual Premium$ 188
ChubbMoneyGeek Score61Annual Premium$ 290

Cheapest Renters Insurance in Riverside, CA

In Riverside, California, Capital Insurance Group offers the cheapest renters insurance with an annual premium of $86 for $20,000 in personal property coverage. Personal property coverage helps protect your belongings from theft, fire, and other damages. The following providers are the top two cheapest providers in Riverside for $20,000 in personal property coverage and a $1,000 deductible, rated by MoneyGeek with minimal consideration for customer service.

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

Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can increase monthly costs but offer better protection if you own many personal belongings.

Cheapest Renters Insurance in Riverside, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score90Annual Premium$ 117
Capital Insurance GroupMoneyGeek Score89Annual Premium$ 86
AllstateMoneyGeek Score87Annual Premium$ 116
State FarmMoneyGeek Score86Annual Premium$ 133
TravelersMoneyGeek Score83Annual Premium$ 150
FarmersMoneyGeek Score68Annual Premium$ 188
ChubbMoneyGeek Score49Annual Premium$ 290

Cheapest Renters Insurance With a High Deductible Riverside, CA

In Riverside, 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 can affect your rates. The following providers are the top two cheapest providers in Riverside for $20,000 in personal property coverage and a $2,000 deductible.

  • Capital Insurance Group: $67 per year
  • Nationwide: $93 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 can afford the deductible if you need to file a claim.

Cheapest High Deductible Renters Insurance in Riverside, 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$ 93
AllstateMoneyGeek Score81Annual Premium$ 116
TravelersMoneyGeek Score88Annual Premium$ 121
State FarmMoneyGeek Score84Annual Premium$ 131
FarmersMoneyGeek Score69Annual Premium$ 184
ChubbMoneyGeek Score61Annual Premium$ 269
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HOW TO SET YOUR DEDUCTIBLE

Ensure that the deductible amount you choose is one you can comfortably afford to pay out-of-pocket if you need to file a claim.
Opting for a higher deductible can lower your annual premiums, leading to overall cost savings while still providing adequate coverage.

Best Renters Insurance for Customer Service in Riverside, CA

Travelers is the best renters insurance company for service quality in Riverside, California, with an annual premium of $150. MoneyGeek scores renters insurance providers and their customer satisfaction based on J.D. Power surveys, which assess service quality and customer experience. The following providers are the top two best in Riverside 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 ($150 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($117 per year)

Great customer service is important for renters looking for insurance because it ensures a smooth and hassle-free experience, especially during claims. For example, when you make a claim, a provider with excellent customer service will guide you through the process efficiently, ensuring you get the support you need.

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

Overview

Travelers ranks first in customer satisfaction and coverages in Riverside, California, with an annual premium of $150. Travelers offers contents replacement cost and valuable items insurance. Contents replacement cost covers the replacement cost of personal property without depreciation, ensuring renters can replace lost items at current market value.

Best Renters Insurance For Service Quality in Riverside, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 150
NationwideMoneyGeek Score95Annual Premium$ 117
ChubbMoneyGeek Score93Annual Premium$ 290
State FarmMoneyGeek Score86Annual Premium$ 133
AllstateMoneyGeek Score77Annual Premium$ 116
FarmersMoneyGeek Score77Annual Premium$ 188
Capital Insurance GroupMoneyGeek Score61Annual Premium$ 86

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

For renters in Riverside, California seeking substantial coverage for their belongings, Travelers stands out with an annual premium of $376 for a policy with $100,000 in personal property coverage. High personal property coverage ensures your valuables are protected against potential losses. For $100K in personal property coverage, the top two best providers in Riverside are:

  • Travelers: MoneyGeek score of 92 out of 100 ($376 per year)
  • Nationwide: MoneyGeek score of 92 out of 100 ($359 per year)

Renters with a significant number of possessions often require higher personal property coverage, which safeguards items like furniture, electronics, and clothing. This coverage typically comes with a higher price tag, underscoring the importance of choosing a provider that delivers both cost-effectiveness and exceptional service. It's worth noting that high-value items such as jewelry or art may exceed standard coverage limits and necessitate additional insurance.

Company logo for Travelers
Best High Personal Property LimitTravelers
MoneyGeek Score:
92/ of 100

Overview

Travelers ranks first in affordability and customer satisfaction for expensive homes in Riverside, California, with an annual premium of $376.

Travelers offers contents replacement cost, which covers personal property losses based on replacement cost without depreciation. Additionally, scheduled personal property coverages protects high-value items like jewelry and fine art from various losses.

Best Renters Insurance for High Personal Property Limits in Riverside, California
TravelersMoneyGeek Score92Annual Premium$ 376
NationwideMoneyGeek Score92Annual Premium$ 359
State FarmMoneyGeek Score92Annual Premium$ 331
AllstateMoneyGeek Score85Annual Premium$ 359
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 264
FarmersMoneyGeek Score77Annual Premium$ 502
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 Families in Riverside, CA

In Riverside, USAA is the top-rated renters insurance company for those with military backgrounds, earning an annual rank of number one. USAA is exclusively available to military members. The following providers are the top two best providers in Riverside for veterans for a policy with $20,000 in personal property coverage.

  • USAA: MoneyGeek score of 100 out of 100 ($166 per year)
  • Nationwide: MoneyGeek score of 91 out of 100 ($117 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. Although USAA ranks first in overall score, it is not the cheapest in Riverside. Nationwide offers a more affordable option at $117 per year. While there are cheaper options, USAA's tailored offerings for military members make it worth considering.

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 the city, leading in customer satisfaction and offering the most comprehensive coverage. With an annual premium of $166, USAA ensures affordability and financial stability

Military renters benefit from USAA's uncommon coverage options like contents replacement cost, which may cover the cost of new items if the old ones are stolen or damaged. Additionally, worldwide personal property coverage supports military personnel abroad, ensuring their belongings are protected wherever they are stationed.

Best Renters Insurance for Military in Riverside, California
Data filtered by:Results filtered by:
Coverage:
Coverage:$100K Personal Property
USAAMoneyGeek Score100Annual Premium$ 286
TravelersMoneyGeek Score92Annual Premium$ 376
NationwideMoneyGeek Score92Annual Premium$ 359
State FarmMoneyGeek Score92Annual Premium$ 331
AllstateMoneyGeek Score85Annual Premium$ 359
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 264
FarmersMoneyGeek Score77Annual Premium$ 502
ChubbMoneyGeek Score61Annual Premium$ 934

Average Cost of Renters Insurance in Riverside, CA

The average cost of renters insurance in Riverside, California, is $154 annually, or $13 per month. This is slightly higher than the California state average of $148 and 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 Riverside may vary greatly depending on the amount of personal property coverage purchased. Personal property coverage protects your belongings from damage or theft. 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 Riverside

The cost of renters insurance 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 Riverside, CA

Renters insurance covers personal belongings, liability, and additional living expenses. It protects against theft, fire, and certain natural disasters. Buying renters insurance ensures financial security and peace of mind, making it an important investment for renters.

  • Personal Property Coverage: This covers your belongings against risks like fire, theft, and vandalism. For example, if a wildfire damages your apartment in California, this coverage would help replace your lost items.
  • Personal Liability Coverage: This protects you if someone gets injured in your rental unit or if you damage someone else's property. For instance, if a guest slips and falls in your California apartment, this coverage could help pay for their medical expenses.
  • Loss Of Use Coverage: This helps cover additional living expenses if your rental becomes uninhabitable due to a covered event. For example, if your California apartment is damaged by a fire and you need to stay in a hotel, loss of use coverage would assist with those 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 Riverside

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 Riverside, CA

The best renters insurance provider for you in Riverside ultimately depends on your needs. Below are some frequently asked questions to help you make an informed decision.

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