The Cheapest and Best Renters Insurance in Santa Ana
The Companies With the Cheapest Renters Insurance in Santa Ana
Cost is an important consideration when shopping for renters insurance, as most providers offer policies with similar coverages at different prices. Residents in Santa Ana can save money on their annual renters insurance premiums by comparing renters insurance quotes in the city.
If you are looking for affordable renters insurance, consider purchasing a policy from the following cheapest renters insurance you can find in Santa Ana:
- Lemonade: $69 per year
- Allstate: $122 per year
For the above policies, the cost indicated includes $20,000 in personal property coverage limits, $100,000 in liability coverage limits and a deductible of $500. You can see how prices change as you adjust your personal property coverage limits in the table below.
California renters living outside Santa Ana can compare renters insurance in California as a whole.
Average Annual Rates for Personal Property Insurance
Personal Property Coverage:
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What Are the Best Renters Insurance Companies in Santa Ana?
MoneyGeek ranked the best renters insurance in Santa Ana and found that the top renters insurance companies in the city are:
- Best Overall: USAA (only available for military personnel)
- Runner-up: State Farm
MoneyGeek evaluated companies using our unique rating system which takes into account affordability scores, customer satisfaction ratings from J.D. Power and financial stability ratings from AM Best. Companies with the highest scores were considered the best in the city. Based on our analysis, these two renters insurance companies offer unique coverages that are rarely offered by other providers.
USAA received perfect customer satisfaction and financial stability ratings as well as an excellent affordability score. However, policies are only available to current and former military members and their families.
USAA offers one of the most affordable, comprehensive renters insurance policies nationwide to those who qualify. Unlike most providers, policies offered by USAA include flood and earthquake damage coverage. Policyholders are also eligible for a discount if they’re actively serving in the military.Read MoneyGeek's USAA renters Insurance Review
Based on its high ratings across multiple categories, including a perfect customer satisfaction score, State Farm was ranked as the second-best renters insurance provider in Santa Ana. Earthquake coverage is available through this insurer.
State Farm is consistently among the most affordable options for renters insurance across the country. With State Farm’s renters insurance, policyholders can easily increase limits for valuable items like jewelry and business personal property. Those renting in an earthquake-prone area, may purchase earthquake coverage for an additional fee.Read MoneyGeek's State Farm renters Insurance Review
The Average Cost of Renters Insurance in Santa Ana for 2023
renters insurance is equal to the average.
On average, the cost of renters insurance in Santa Ana is $216 per year, or around $18 per month. This is $57 more per year than the national average of $159 per year.
What Factors Impact Renters Insurance Costs in Santa Ana?
Renters insurance cost depends on many factors. The following factors will have the most impact on your rate:
- Personal property coverage amount. The amount of personal property coverage included in your policy will have the most impact on your rate for renters insurance in Santa Ana.
- Location. Geographic-specific factors like crime rates and theft rates only slightly impact the cost of renters insurance in Santa Ana.
- Deductible. When you choose a higher deductible, it means you will pay more out-of-pocket whenever you file a claim, but your monthly premiums will be lower.
- ACV vs. RCV. The actual cash value (ACV) and replacement cost value (RCV) are two different types of reimbursement you can get depending on the type of insurance you plan to buy. ACV reimburses you with actual cash based on the depreciated value of the used items. While RCV reimburses you with the equivalent cost to buy a new similar item without considering depreciation. RCV policies cost more than ACV policies as they pay more for claims.
- Liability coverage amount. A standard policy has $100,000 in liability coverage. It would cost renters only a few dollars per year if they want to increase coverage.
Calculate How Much Renters Insurance You Need
Does My Santa Ana Neighborhood Impact Cost of Renters Insurance?
Neighborhood locations only slightly impact renters insurance rates. MoneyGeek’s study found that the neighborhood you live in has a minimal impact on the cost of your premium by only a few dollars per month.
Understanding Renters Insurance in Santa Ana
MoneyGeek strongly recommends getting a policy to protect your assets against theft or damages. Some landlords may require you to have renters insurance in Santa Ana, though it is not mandated by law.
What Does Renters Insurance Cover in Santa Ana?
Making sure that you have enough renters insurance is an important consideration when shopping for renters insurance. Renters insurance protects your property against theft and other unexpected damages at an affordable cost. According to the FBI, Santa Ana has a property crime rate of 1638 per 100,000 people in 2019, which is 13% below the national average. Although the incidence of crime in Santa Ana is relatively low, renters insurance ensures that you’re protected against theft.
If you live in an apartment or rental home in Santa Ana, you can also increase your coverage or add other optional coverage to cover you from various risks like fires and water damage. A renters insurance policy in Santa Ana typically offers the following coverage:
- Personal property coverage protects the contents of your rented home against perils like fire, vandalism, theft, plumbing issues, electrical malfunctions and some weather-related damages.
- Additional living expenses for temporary housing are covered if your home is temporarily unavailable due to a covered peril.
- Liability insurance protects you if an accident in your rental property causes damages or injuries to other people. It also covers legal expenses and court judgment payments
- Medical payments coverage pays for medical expenses related to an injury that happened on your rented property.
What Is Not Covered by Renters Insurance in Santa Ana?
Aside from knowing the amount of coverage you need, you also need to figure out which type of coverage is included in your policy. Renters insurance in Santa Ana may cover your personal property. However, certain perils that could damage the building’s structure may not be included in your renters insurance policy, which means you may need to get additional coverage.
For instance, if you live in a location that is flood-prone, you’ll want to get additional coverage for water damage. Renters can also choose to buy incremental insurance through the National Flood Insurance Program (NFIP).
Renters insurance policies do not cover your roommates’ possessions, damage from earthquakes, damages to your car, jewelry and other valuables that cost more than the policy limits. Before purchasing a policy, make sure you understand the terms of your agreement to ensure that you have adequate coverage.
Frequently Asked Questions About Renters Insurance in Santa Ana
When shopping for renters insurance, renters should look for policies that offer the best combination of affordability and quality. MoneyGeek answered some of the most commonly asked questions about renters insurance in Santa Ana to help make the process easier for you.
Renters Insurance in Santa Ana Analysis: Methodology
Moneygeek analyzed hundreds of renters insurance quotes in Santa Ana to help you find cheap renters insurance. The best renters insurance rankings were determined using data from J.D. Power, AM Best, and our affordability metrics that are derived from a comprehensive analysis of quotes provided by Quadrant.
About Mark Fitzpatrick
- United States Department of Justice, Federal Bureau of Investigation. "Crime in the United States, 2019." Accessed June 9, 2022.