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


Updated: September 10, 2024

Travelers is the best renters insurance company in San Mateo, California, with a MoneyGeek score of 88 and an average annual premium of $117. Capital Insurance Group is the cheapest provider, with a MoneyGeek score of 89 and an average annual premium of $68. The best and cheapest quotes are based on $20,000 in personal property coverage.

The best homeowners insurance provider should offer a balance of customer service with affordability. Depending on your needs, other providers may be best. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersSan Mateo, CA
2024

Table of Contents

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

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

768Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in San Mateo, CA

Travelers provides the best renters insurance in San Mateo, California, with a MoneyGeek score of 88 out of 100 and an average annual premium of $117. The following are the top two best renters insurance providers in San Mateo for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible:

  • Travelers: MoneyGeek score of 88 out of 100 ($117 per year)
  • Nationwide: MoneyGeek score of 86 out of 100 ($121 per year)

Travelers has perfectly balanced customer satisfaction and affordability, with an affordability score of 45 out of 55.

Company logo for Travelers
Best OverallTravelers
MoneyGeek Score:
88/ of 100

Overview

Travelers ranks first in coverage in San Mateo, California, with an average annual premium of $117. The company offers contents replacement cost and scheduled personal property coverages. Contents replacement cost covers personal property losses based on replacement cost at the time of loss, with no depreciation deduction. Scheduled personal property coverage protects high-value items like jewelry and fine art without requiring appraisals or item listings.

Best Renters Insurance in San Mateo, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score88Annual Premium$ 117
NationwideMoneyGeek Score86Annual Premium$ 121
State FarmMoneyGeek Score84Annual Premium$ 121
AllstateMoneyGeek Score83Annual Premium$ 102
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 68
FarmersMoneyGeek Score71Annual Premium$ 159
ChubbMoneyGeek Score61Annual Premium$ 247

Cheapest Renters Insurance in San Mateo, CA

In San Mateo, California, Capital Insurance Group offers the cheapest renters insurance, with an average annual premium of $68 for $20,000 in personal property coverage. The following providers are the top two cheapest in San Mateo for $20,000 in personal property coverage and a $1,000 deductible, with MoneyGeek's rating having minimal consideration for customer service:

  • Capital Insurance Group: $68 per year
  • Allstate: $102 per year

Personal property coverage protects your belongings, such as furniture, electronics and clothing, against risks like theft or fire. Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can increase monthly costs but offer better protection if you have many personal belongings.

Cheapest Renters Insurance in San Mateo, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Capital Insurance GroupMoneyGeek Score89Annual Premium$ 68
TravelersMoneyGeek Score85Annual Premium$ 117
AllstateMoneyGeek Score85Annual Premium$ 102
State FarmMoneyGeek Score83Annual Premium$ 121
NationwideMoneyGeek Score83Annual Premium$ 121
FarmersMoneyGeek Score68Annual Premium$ 159
ChubbMoneyGeek Score49Annual Premium$ 247

Cheapest Renters Insurance With a High Deductible in San Mateo, CA

In San Mateo, California, Travelers offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an average annual premium of $95. The following providers are the top two cheapest in San Mateo for $20,000 in personal property coverage and a $2,000 deductible:

  • Capital Insurance Group: $53 per year
  • Travelers: $95 per year

A deductible is the amount you pay out of pocket before your insurance kicks in, and it can affect your 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 can afford the deductible if you need to file a claim. Renters should consider their financial situation and risk tolerance when choosing a deductible amount.

Cheapest High Deductible Renters Insurance in San Mateo, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 53
TravelersMoneyGeek Score89Annual Premium$ 95
NationwideMoneyGeek Score88Annual Premium$ 96
AllstateMoneyGeek Score80Annual Premium$ 102
State FarmMoneyGeek Score81Annual Premium$ 119
FarmersMoneyGeek Score68Annual Premium$ 156
ChubbMoneyGeek Score61Annual Premium$ 229
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HOW TO SET YOUR DEDUCTIBLE

When selecting your insurance deductible, make sure it's an amount you can easily pay out of pocket if you need to file a claim. Opting for a higher deductible can reduce your premium, leading to overall cost savings while providing the coverage you need.

Best Renters Insurance for Customer Service in San Mateo, CA

In San Mateo, California, Travelers is the best renters insurance company for service quality, with an average annual premium of $117. The following providers are the top two best in San Mateo for a policy with $20,000 in personal property coverage for those who value excellent customer service without considering affordability.

  • Travelers: MoneyGeek score of 96 out of 100 ($117 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($121 per year)

Excellent customer service is important for renters looking for insurance because it ensures a smoother process when filing a claim. MoneyGeek scores renters insurance providers based on customer satisfaction from J.D. Power surveys, which measure how happy customers are with their insurance.

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

Overview

Travelers ranks first in customer satisfaction and coverage in San Mateo, California, offering an average annual premium of $117. It provides contents replacement cost coverage, which ensures your personal property is replaced at its current value without depreciation deductions. Its scheduled personal property coverage protects valuable items like jewelry and fine art from various losses.

Best Renters Insurance for Service Quality in San Mateo, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 117
NationwideMoneyGeek Score95Annual Premium$ 121
ChubbMoneyGeek Score93Annual Premium$ 247
State FarmMoneyGeek Score86Annual Premium$ 121
AllstateMoneyGeek Score77Annual Premium$ 102
FarmersMoneyGeek Score77Annual Premium$ 159
Capital Insurance GroupMoneyGeek Score61Annual Premium$ 68

Best Renters Insurance for High Personal Property Limits in San Mateo, CA

For renters in San Mateo, California, needing high personal property coverage, State Farm is the standout choice, with an average annual premium of $190 for $100,000 in coverage. These are the top two best providers in San Mateo for $100K in personal property coverage:

  • State Farm: MoneyGeek score of 95 out of 100 ($190 per year)
  • Travelers: MoneyGeek score of 92 out of 100 ($283 per year)

Renters with a substantial number of possessions often require higher personal property coverage. This coverage protects your belongings from risks like theft, fire and water damage. While higher coverage levels typically come with increased premiums, it's important to find a provider that offers both affordability and excellent service. Remember that high-value items such as jewelry or art may need additional coverage to be fully protected.

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

Overview

State Farm ranks first in affordability and customer satisfaction for expensive homes in San Mateo, California, with an average annual premium of $190. The company offers cyber event/ID theft coverage, which includes identity restoration and fraud loss protection. This coverage helps renters safeguard their personal information and recover from identity theft.

Best Renters Insurance for High Personal Property Limits in San Mateo, CA
State FarmMoneyGeek Score95Annual Premium$ 190
TravelersMoneyGeek Score92Annual Premium$ 283
NationwideMoneyGeek Score84Annual Premium$ 375
AllstateMoneyGeek Score82Annual Premium$ 312
Capital Insurance GroupMoneyGeek Score81Annual Premium$ 208
FarmersMoneyGeek Score80Annual Premium$ 345
ChubbMoneyGeek Score61Annual Premium$ 741
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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 San Mateo, CA

In San Mateo, USAA is the top-ranked renters insurance company exclusively for those with military backgrounds. These are the top two best providers for military members in San Mateo for a policy with $20,000 in personal property coverage:

  • USAA: MoneyGeek score of 100 out of 100 ($208 per year)
  • Travelers: MoneyGeek score of 88 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 other insurers may offer lower premiums, USAA's specialized offerings usually make it a better choice for military members in San Mateo.

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 San Mateo, leading in customer satisfaction and offering the best coverages. With an average annual premium of $208, USAA ensures affordability and comprehensive protection. USAA's contents replacement cost coverage ensures that in the event of theft or damage, policyholders can replace their belongings with new items. Its worldwide personal property coverage offers security for military members abroad, safeguarding their possessions wherever they are stationed or deployed.

Best Renters Insurance for Military in San Mateo, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 208
TravelersMoneyGeek Score88Annual Premium$ 117
NationwideMoneyGeek Score86Annual Premium$ 121
State FarmMoneyGeek Score84Annual Premium$ 121
AllstateMoneyGeek Score83Annual Premium$ 102
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 68
FarmersMoneyGeek Score71Annual Premium$ 159
ChubbMoneyGeek Score61Annual Premium$ 247

Average Cost of Renters Insurance in San Mateo, CA

The average cost of renters insurance in San Mateo, California, is $134 annually or $11 monthly. This rate is lower 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 in personal property limits, $100,000 in liability limits and a $1,000 deductible.

Renters should remember that the average cost of renters insurance in San Mateo 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 much coverage you need 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 San Mateo

Various factors influence the cost of renters insurance in San Mateo, California. For instance, location-specific risks like earthquakes and the value of personal property can significantly affect premiums. Knowing what impacts the cost of renters insurance is crucial when choosing a policy to ensure you get the best coverage for your budget. Here are some key factors that affect renters insurance costs:

  • Location: Areas prone to natural disasters, such as earthquakes, often have higher premiums.
  • Property Value: Higher-value belongings increase the cost of coverage.
  • Deductibles: Higher deductibles usually lower your premium but increase out-of-pocket costs in a claim.
  • Coverage Amount: More extensive coverage options will raise the premium.
  • Claims History: A history of frequent claims can lead to higher premiums.

What Renters Insurance Covers in San Mateo, CA

Renters insurance covers personal belongings, liability and additional living expenses. It offers financial protection against theft, damage and accidents. Purchasing renters insurance ensures you are safeguarded from unexpected expenses, providing financial security. Below are the main areas covered by renters insurance:

  • Personal Property Coverage: This coverage protects your belongings against damage or theft. For example, if your apartment in California is burglarized, your renters insurance can help replace stolen 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 apartment, this coverage can help with medical and legal costs.
  • Loss of Use Coverage: This pays for additional living expenses if your rental becomes uninhabitable. If a fire damages your California apartment, loss of use coverage can cover hotel stays and other living expenses.
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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 San Mateo

Renters insurance in San Mateo does not cover everything, including damage from floods and earthquakes. Here are some common exclusions to be aware of:

  • Floods: Renters insurance does not cover damage caused by flooding.
  • Earthquakes: Earthquake damage is typically excluded from standard renters insurance policies.
  • High-Value Items: Items like jewelry or art may not be fully covered without additional riders.
  • Pest Infestations: Damage caused by pests such as bed bugs or rodents is generally not covered.
  • Roommate Property: Roommate's belongings are usually not covered under your policy.

FAQ: Renters Insurance in San Mateo, CA

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

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