The Best and Cheapest Renters Insurance in Scottsdale, AZ, for 2023: Rankings, Reviews and Rates

bestrenters insuranceScottsdale

2023

The Cheapest and Best Renters Insurance in Scottsdale

Cheapest renters insurance in Scottsdale - Lemonade

Best renters insurance in Scottsdale - USAA

Most insurers offer similar coverages, so Scottsdale renters should shop around, compare quotes and purchase a policy that suits their specific needs and budget.

MoneyGeek's analysis of renters insurance rates in Scottsdale found that the cheapest options for the average consumer are:

• Lemonade: $66 per year
• State Farm: $95 per year

The rates in this analysis are based on a policy that includes $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible. The table below shows how the cost of your policy will change depending on your personal property coverage limits.

If you live elsewhere in Arizona, check out the average premiums for renters insurance in the state.

Average Annual Rates for Personal Property Insurance

Personal Property Coverage:

$20,000

Scroll for more

Compare Renters Insurance Rates

Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.

Loading...

Loading scripts...

Expand All Rankings +

1

USAA

Score:96

-

4.6/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take

USAA ranked first on our list, with a perfect score in customer satisfaction and stability. USAA is available only to military members and their families.

More About USAA

USAA consistently ranks among the cheapest insurance companies across the country and has a number of unique coverages. For example, all USAA policies reimburse you at replacement value, so you'll get similar items if your possessions are lost. USAA also offers flood and earthquake damage coverage in its policies.

Read MoneyGeek's USAA renters Insurance Review

2

State Farm

Score:91

-

4.6/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take

State Farm ranked second and earned high scores in most categories. Plus, State Farm will let you buy earthquake coverage.

More About State Farm

Renters insurance from State Farm is one of the cheapest options available across the United States. You can also buy inflation coverage to make sure your property is adequately covered over time. Additionally, State Farm’s earthquake coverage can also help provide you and your family with the protection they need to recover from the effects of an earthquake.

Read MoneyGeek's State Farm renters Insurance Review

The average annual cost of renters insurance in Scottsdale is $138, which is $21 less than the national average of $159.

While there are several factors that impact your renters insurance costs, the following are the most impactful to your premiums.

1. Personal property coverage amount. To make sure you're getting the best deal when it comes to renters insurance in Scottsdale, it's important to know just how much coverage you need. With the right coverage, you can make sure your personal property and belongings are protected.
2. Location. Renters insurance rates can vary slightly depending on the neighborhood in which you live. In high-crime neighborhoods, premiums are usually higher than in safer areas.
3. Deductible. A deductible is the amount you pay before your insurance kicks in. Policies with high deductibles have lower premiums, as you need to pay a lot from your wallet for a claim.
4. ACV vs. RCV. The type of insurance you have determines how much you’ll be reimbursed. If you have an actual cash value policy (ACV), then you’ll be reimbursed based on how much the item was worth at the time it was damaged or lost rather than its replacement cost. Replacement cost value (RCV) policies reimburse the equivalent cost to buy a new item similar in quality and type. Depreciation doesn’t factor into the equation with this coverage type.
5. Liability coverage amount. A standard renters policy provides $100,000 in liability coverage, but you can add additional coverage for a few extra dollars per year.

Calculate How Much Renters Insurance You Need

clothing

Total:

---

clothing

electronics

furniture

appliances

jewelry

accessories

kitchen

misc.

other

results

Pants

Shirts

Jackets & Outerwear

Shoes

Dresses

Other Clothing

---

Grand Total:

Back

Next

I'm done

The location of your rental home won't have much of an impact on the cost of your renters insurance. Our study found that your neighborhood affects your insurance rate by only a few dollars per month.

To protect your assets and belongings, MoneyGeek recommends that you purchase renters insurance. Renters insurance provides cost-effective and affordable protection against fire, theft, natural disasters and other unexpected incidents.

In Scottsdale, it’s important to find a range of renters insurance coverage options that properly meet your unique needs. Keep in mind that renters insurance covers potential losses due to risks such as fires and water damage, which can happen anywhere.

Scottsdale citizens can also protect themselves against theft by purchasing renters insurance. The FBI reported that in 2019, property crimes in the city reached 1,856 per 100,000 residents, which is roughly 2% below the national average.

Renters insurance policies typically include the following coverage:

• Personal property coverage: This protects your possessions from events like fires, vandalism, theft and plumbing issues.
• Additional living expenses: In some cases, you'll need temporary housing after a disaster strikes. This coverage will take care of expenses for your temporary housing.
• Liability insurance: This helps protect you against accidents and injuries caused to others on your property. It helps pay for legal expenses and court judgments as well.
• Medical payments coverage: This coverage pays medical expenses for an injury at your rented property even if you’re not the one who caused it.

Renters insurance does not cover the structure of the home. Instead, the property owners should have insurance protecting the structure.

Standard policies also generally do not cover water damage as a result of flooding. The National Flood Insurance Program (NFIP) allows renters to buy additional insurance.

Note that renters insurance only covers your possessions, not those of your roommate. It also does not cover damage from earthquakes, damage to your car, jewelry or similar items that are more expensive than policy limits.

Be sure to check your policy carefully to see whether it covers these things. Remember that not all policies are the same, so it’s beneficial to review your policy thoroughly.

If you are looking for renters insurance in Scottsdale, you have many options. These questions can help you determine the best insurer for your unique needs.

About Mark Fitzpatrick

---

Mark Fitzpatrick is a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, conducting original research and creating content that can be personalized for every buyer. He has been quoted on insurance topics in several publications, including CNBC, NBC News and Mashable.

Mark 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 economics and insurance knowledge to bring transparency around financial topics and help others feel confident in their money moves.

Read Full Bio »

---