Best and Cheapest Renters Insurance in Stamford, CT (September 2024)


Updated: September 12, 2024

The best renters insurance company in Stamford, Connecticut is State Farm with a MoneyGeek score of 94 and an annual premium of $79. The cheapest provider is Farmers, with a MoneyGeek score of 93 and an annual premium of $68. The best homeowners insurance provider should offer a balance of customer service with affordability.

Depending on your needs, Travelers excels in service quality with an annual premium of $305. We also looked into the best and cheapest renters insurance in Connecticut for those who live elsewhere in the state.

Table of Contents
MoneyGeek Logo IconBest & CheapestRentersStamford, CT
2024

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

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

2,880Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Stamford, CT

The following companies provide the best renters insurance in Stamford, Connecticut, for policies with $20,000 in personal property coverage, $100,000 in personal liability coverage and a $1,000 deductible:

  • State Farm: MoneyGeek score of 94 out of 100 ($79 per year)
  • Chubb: MoneyGeek score of 93 out of 100 ($97 per year)

The best providers offer a balance of cost and quality service. Allstate has achieved this balance, earning a high affordability score of 53 out of 55 and a perfect customer satisfaction score of 30 out of 30.

Company logo for State Farm
Best OverallState Farm
MoneyGeek Score:
94/ of 100

Overview

State Farm ranks first in financial stability in Stamford, with an annual premium of $79. Renters can benefit from cyber event/ID theft coverage, which helps with identity restoration and fraud loss.

Best Renters Insurance in Stamford, CT
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
State FarmMoneyGeek Score94Annual Premium$ 79
ChubbMoneyGeek Score93Annual Premium$ 97
FarmersMoneyGeek Score90Annual Premium$ 68
AllstateMoneyGeek Score90Annual Premium$ 73
ASIMoneyGeek Score67Annual Premium$ 177
HomesiteMoneyGeek Score66Annual Premium$ 209
TravelersMoneyGeek Score62Annual Premium$ 305

Cheapest Renters Insurance in Stamford, CT

In Stamford, Connecticut, State Farm offers the cheapest renters insurance with an annual premium of $79 for $20,000 in personal property coverage. The following providers are the top two cheapest providers in Stamford for $20,000 in personal property coverage and a $1,000 deductible.

  • State Farm: $79 per year
  • Allstate: $73 per year

We rated the cheapest renters insurance in Stamford with minimal consideration for customer service. Personal property coverage protects your belongings in case of theft, fire, or other covered events.

Cheap renters insurance often comes with low personal property coverage limits. Higher coverage limits can increase your monthly costs but offer better protection for your belongings.

Cheapest Renters Insurance in Stamford, CT
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
FarmersMoneyGeek Score93Annual Premium$ 68
AllstateMoneyGeek Score93Annual Premium$ 73
State FarmMoneyGeek Score95Annual Premium$ 79
ChubbMoneyGeek Score93Annual Premium$ 97
ASIMoneyGeek Score68Annual Premium$ 177
HomesiteMoneyGeek Score63Annual Premium$ 209
TravelersMoneyGeek Score49Annual Premium$ 305

Cheapest Renters Insurance With a High Deductible Stamford, CT

In Stamford, Connecticut, Farmers 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 $62. The two cheapest providers are:

  • Farmers: $62 per year
  • State Farm: $67 per year

A deductible is the amount you pay out of pocket before your insurance coverage 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’re not overpaying for coverage but are still protected if you need to file a claim.

Cheapest High Deductible Renters Insurance in Stamford, CT
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
FarmersMoneyGeek Score90Annual Premium$ 62
State FarmMoneyGeek Score94Annual Premium$ 67
AllstateMoneyGeek Score89Annual Premium$ 73
ChubbMoneyGeek Score92Annual Premium$ 95
ASIMoneyGeek Score65Annual Premium$ 177
HomesiteMoneyGeek Score66Annual Premium$ 196
TravelersMoneyGeek Score62Annual Premium$ 281
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HOW TO SET YOUR DEDUCTIBLE

Ensuring your deductible is an amount you can comfortably pay out-of-pocket is crucial when selecting an insurance policy. This means you should choose a deductible that won't strain your finances in the event of a claim.

Opting for a higher deductible can reduce your premium, resulting in overall cost savings. This strategy allows you to maintain adequate coverage while keeping your insurance expenses manageable.

Best Renters Insurance for Customer Service in Stamford, CT

In Stamford, Connecticut, Travelers is the best renters insurance company for service quality, with an annual premium of $305. The following providers are the top two best providers in Stamford, Connecticut, 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 ($305 per year)
  • Chubb: MoneyGeek score of 93 out of 100 ($97 per year)

We scored renters insurance providers and customer satisfaction based on J.D. Power surveys, which measure customer experiences and satisfaction.

Great customer service is important for renters looking for insurance because it ensures a smooth and stress-free experience. For example, when you make a claim, having a responsive and helpful insurance company can make the process much easier and quicker.

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

Overview

Travelers ranks first in customer satisfaction and coverages in Stamford, Connecticut, with an annual premium of $305.

Travelers offers contents replacement cost and valuable items insurance. Contents replacement cost covers personal property losses based on replacement cost without depreciation, ensuring you get the full value of your items. Valuable items insurance protects high-value items like jewelry and fine art without requiring appraisals.

Best Renters Insurance for Service Quality in Stamford, CT
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 305
ChubbMoneyGeek Score93Annual Premium$ 97
State FarmMoneyGeek Score86Annual Premium$ 79
HomesiteMoneyGeek Score78Annual Premium$ 209
AllstateMoneyGeek Score78Annual Premium$ 73
FarmersMoneyGeek Score77Annual Premium$ 68
ASIMoneyGeek Score63Annual Premium$ 177

Best Renters Insurance for High Personal Property Limits in Stamford, CT

For renters in Stamford, Connecticut needing substantial personal property coverage, State Farm offers the best option with an annual premium of $184 for $100,000 in coverage. The two best providers in Stamford are:

  • State Farm: MoneyGeek score of 95 out of 100 ($184 per year)
  • Allstate: MoneyGeek score of 86 out of 100 ($263 per year)

High personal property coverage means insuring a significant amount of belongings against potential loss or damage. Renters who own many belongings often require higher personal property coverage, which protects items like furniture, electronics, and clothing from risks like theft, fire, or water damage.

As coverage increases, so does the cost. It's important to choose a provider that offers a balance of affordability and excellent service, ensuring value for money when protecting numerous possessions. High-value items such as jewelry or art may need additional coverage, as standard policies often have limits on the amount they'll pay for certain types of property.

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 Stamford, Connecticut, with an annual premium of $184. Key coverages include cyber event /ID theft, which helps renters restore their identity and recover from cyber fraud.

Best Renters Insurance for High Personal Property Limits in Stamford, CT
State FarmMoneyGeek Score95Annual Premium$ 184
AllstateMoneyGeek Score86Annual Premium$ 263
ChubbMoneyGeek Score86Annual Premium$ 410
FarmersMoneyGeek Score85Annual Premium$ 286
HomesiteMoneyGeek Score76Annual Premium$ 425
ASIMoneyGeek Score73Annual Premium$ 384
TravelersMoneyGeek Score62Annual Premium$ 891
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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 Stamford, CT

In Stamford, USAA is the top-ranked renters insurance company for military members, boasting an annual premium of $159. This company exclusively serves those with military backgrounds in Stamford. The following providers are the top two best providers in Stamford for veterans for a policy with $20,000 in personal property coverage.

  • USAA: MoneyGeek score of 100 out of 100 ($159 per year)
  • State Farm: MoneyGeek score of 94 out of 100 ($79 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 there are cheaper options, USAA's tailored offerings might be worth considering for those with a military background.

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 Stamford. With an average annual premium of $92, USAA provides affordability and comprehensive financial protection.

It offers contents replacement cost, which covers the cost of replacing belongings with brand-new ones in the event of theft or damage. It also has worldwide personal property coverage, providing peace of mind for military members at home or abroad.

Best Renters Insurance for Military in Stamford, CT
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 159
State FarmMoneyGeek Score94Annual Premium$ 79
ChubbMoneyGeek Score93Annual Premium$ 97
FarmersMoneyGeek Score90Annual Premium$ 68
AllstateMoneyGeek Score90Annual Premium$ 73
ASIMoneyGeek Score67Annual Premium$ 177
HomesiteMoneyGeek Score66Annual Premium$ 209
TravelersMoneyGeek Score62Annual Premium$ 305

Best Renters Insurance for Low Credit Scores in Stamford, CT

In Stamford, the best renters insurance company for those with poor credit is Chubb, with an annual premium of $149 for a policy with $20,000 in personal property coverage. The top two providers for the same type of policy are:

  • Chubb: MoneyGeek score of 94 out of 100 ($149 per year)
  • State Farm: MoneyGeek score of 92 out of 100 ($159 per year)

Renters with poor credit in Stamford often face higher rates because they are considered a greater risk to insurance providers. This risk perception stems from a history of credit issues that may indicate a higher chance of filing claims. To potentially lower these rates, you can work on improving your credit score and seek out discounts that may be available to you.

Best for Low Credit Scores
MoneyGeek Score:
94/ of 100

Overview

Chubb ranks first in affordability for renters insurance in Stamford, Connecticut, with an annual premium of $149. It also offers primary car rental coverage, providing global protection when your liability limit is $1 million or more.

Additionally, Chubb's contents replacement cost coverage, ensures the full cost to replace your belongings in case of unexpected events like fire or water leaks. These discounts can significantly benefit renters with poor credit by offering comprehensive protection at a lower cost.

Best Renters Insurance for Low Credit Scores in Stamford, CT
Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverage:
Coverage:$20K Personal Property
ChubbMoneyGeek Score94Annual Premium$ 149
State FarmMoneyGeek Score92Annual Premium$ 159
AllstateMoneyGeek Score91Annual Premium$ 73
FarmersMoneyGeek Score86Annual Premium$ 152
ASIMoneyGeek Score72Annual Premium$ 351
HomesiteMoneyGeek Score69Annual Premium$ 506
TravelersMoneyGeek Score62Annual Premium$ 923

Average Cost of Renters Insurance in Stamford, CT

The average cost of renters insurance in Stamford, Connecticut is $144 annually, which breaks down to $12 monthly. This is $7 cheaper than the state average of $151 per year and slightly below the national average of $145 annually. 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 Stamford may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft or damage. 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 Stamford

The cost of renters insurance in Stamford, Connecticut, 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 Stamford, CT

Renters insurance primarily provides coverage for your personal belongings, but it also covers additional areas such as liability and living expenses if your rental is rendered uninhabitable. Here’s what a typical policy includes:

  • Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter in Texas may receive compensation for a stolen laptop.
  • Personal Liability Coverage: This protects you financially if a guest is injured in your rental or you cause property damage. A Texas renter could use this coverage if a guest slips and falls in their apartment.
  • Loss of Use Coverage: This helps with additional living expenses if your rental is unlivable due to a covered peril. A renter might rely on loss of use coverage to pay for a hotel stay after a fire.
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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 Stamford

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 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 Stamford, CT

The best renters insurance provider for you in Stamford ultimately depends on your needs. Below, we address common questions to help you make an informed decision.

How much is renters insurance in Stamford, Connecticut, on average?
What is the cheapest renters insurance company in Stamford, Connecticut?
What is the best renters insurance company in Stamford, Connecticut?
Do I need renters insurance in Stamford, Connecticut?

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.