The Cheapest and Best Renters Insurance in Santa Clarita
The Companies With the Cheapest Renters Insurance in Santa Clarita
Most renters insurance companies in Santa Clarita offer the same core coverages at different rates. By comparing renters insurance quotes, you could save more money by paying less for the same set of coverages.
MoneyGeek compared prices to find the most affordable renters insurance in Santa Clarita. Based on our rankings, the following companies offer the cheapest policies for the average consumer:
- Lemonade: $102 per year
- Allstate: $115 per year
Standard policies have $20,000 in personal property coverage limits, $100,000 in liability coverage limits and a deductible of $500. You can ask for higher personal property coverage limits at an additional cost. By adjusting the personal property coverage limits in the table below, you can see how your rate will change.
If you are a resident outside of Santa Clarita, you can also view the best renters insurance in California.
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What Are the Best Renters Insurance Companies in Santa Clarita?
MoneyGeek ranked the best renters insurance in Santa Clarita and found that the top renters insurance companies in the city are:
- Best Overall: USAA (only available for military personnel)
- Runner-up: State Farm
To calculate the overall scores, MoneyGeek used a unique rating system that combines affordability, customer satisfaction ratings from J.D. Power and financial stability ratings from AM Best. MoneyGeek found that USAA and State Farm offer unique coverages rarely included in other companies’ policies.
Based on MoneyGeek’s rankings, USAA received the highest ratings across all categories, including perfect scores in affordability and customer satisfaction. However, USAA policies are only available to military members and their families.
Consistently offering one of the cheapest policies nationwide, USAA is the best overall insurer in Santa Clarita. The provider offers unique coverages like flood and earthquake damage that are rarely included in most insurance policies. If you move abroad, your policy remains in effect. USAA also offers significant discounts to those currently serving in the military.
State Farm was ranked as the second-best renters insurance provider in Santa Clarita. The insurer received high ratings across multiple categories, including a perfect financial stability score and near-perfect affordability score. The provider offers add-on coverage for earthquakes.
For an affordable cost, State Farm offers renters insurance with unique add-on options. With a State Farm policy, you can easily increase limits for valuable items, like jewelry or business personal property. Multiple supplemental coverage options, like identity restoration coverage and earthquake coverage, are also available for an added cost.
The Average Cost of Renters Insurance in Santa Clarita for 2024
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The average cost of renters insurance in Santa Clarita is $247 per year or $21 per month. This is $88 more per year than the national average of $159 per year.
What Factors Impact Renters Insurance Costs in Santa Clarita?
Knowing which factors have the most impact on your renters insurance cost could help you identify the best option for your needs.
- Personal property coverage amount. The amount of personal property coverage included in your policy has the greatest impact on your cost. It’s important to accurately assess the value of your personal property so you can get adequate coverage without paying extra.
- Location. Where you live in the city slightly affects the cost of renters insurance in Santa Clarita. If you live in a neighborhood with a high crime rate, for instance, your insurance rates will most likely be higher.
- Deductible. Deductibles refer to the amount you pay out-of-pocket for each claim. Choosing a higher deductible means lower premiums.
- ACV vs. RCV. Actual cash value (ACV) policies reimburse you for your item’s depreciated value. Meanwhile, replacement cost value (RCV) policies reimburse you with the equivalent cost to buy a new item without considering its depreciation value. Between these two policies, RCV costs more per month.
- Liability coverage amount. A standard policy contains $100,000 in liability coverage, but it only costs a few more dollars per year to increase your coverage.
Calculate How Much Renters Insurance You Need
Does My Santa Clarita Neighborhood Impact Cost of Renters Insurance?
The neighborhood you live in may only have a slight impact on the cost of renter’s insurance. Between different locations, premium costs change by only a few dollars per month.
Understanding Renters Insurance in Santa Clarita
Renters insurance in Santa Clarita is not mandated by law, but some landlords may also require that you purchase a policy. Regardless, MoneyGeek strongly recommends purchasing a policy as an affordable way to safeguard your assets against theft or damages.
What Does Renters Insurance Cover in Santa Clarita?
Renters insurance is an affordable way to protect your assets against unforeseen damages. Before shopping for renters insurance, renters should assess the value of their possessions, so they can estimate how much coverage they need.
In addition to the coverage included in a standard policy, renters may want to pay a bit more for additional coverage based on risks specific to their area. Santa Clarita insurance providers typically offer the following coverages:
- Personal property coverage: Protects the contents of your rented home from certain perils like fire, vandalism, theft, plumbing issues, electrical malfunctions and some weather-related damages.
- Additional living expenses: Refer to expenses for temporary housing in case your rental property becomes unavailable after a covered peril.
- Liability insurance: Protects you against damages or injuries that happened to other people while on your rented property. In case of filed lawsuits, it also covers legal expenses and court judgment payments.
- Medical payments coverage: Pays for injuries that happened on your rental property regardless of who is at fault.
What Is Not Covered by Renters Insurance in Santa Clarita?
The above coverages such as personal property coverage, additional living expenses, liability insurance and medical payments are all included in a standard policy. However, certain perils like floods and earthquakes are typically not included, which means you would have to pay more if you want to have these additional coverages. For instance, to get protection against flood damage, you can purchase incremental insurance through the National Flood Insurance Program (NFIP).
Most renters insurance policies may or may not cover your roommates’ possessions, damage from earthquakes, damages to your car, jewelry and other valuables. Before completing a purchase, make sure that you know what’s included in your policy.
Frequently Asked Questions About Renters Insurance in Santa Clarita
Santa Clarita residents looking for renters insurance should consider companies that have the best combination of affordability and quality. MoneyGeek answered the most common questions about renters insurance in Santa Clarita.
Renters Insurance in Santa Clarita Analysis: Methodology
Moneygeek analyzed hundreds of renters insurance quotes in Santa Clarita 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.