Best and Cheapest Renters Insurance in Tempe, AZ (Sept 2024)


Updated: September 13, 2024

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The best renters insurance company in Tempe, Arizona, is Nationwide, with a MoneyGeek score of 90 and an annual premium of $134. The cheapest renters insurance provider is Auto-Owners with a MoneyGeek score of 94 and an annual premium of $114.

The best homeowners insurance provider should offer a balance of customer service with affordability. Depending on your needs, other providers may be best, such as Travelers for service quality with an annual premium of $237. MoneyGeek also looked into the best and cheapest renters insurance in Arizona for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersTempe, AZ
2024

Table of Contents

Why Trust MoneyGeek? To determine the top renters insurance in Arizona, we sourced data from the Arizona Department of Insurance and Quadrant Information Services, focusing on Tempe.

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

2,880Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Tempe, AZ

The best renters insurance in Tempe, Arizona, is Nationwide with a MoneyGeek score of 90 out of 100 and an annual premium of $134. The following providers are the top two best renters insurance providers in Tempe for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.

  • Nationwide: MoneyGeek score of 90 out of 100 ($134 per year)
  • American Family: MoneyGeek score of 88 out of 100 ($147 per year)

The best provider in the state balances both cost and affordability.

Company logo for Nationwide
Best OverallNationwide
MoneyGeek Score:
90/ of 100

Overview

Nationwide ranks first in Coverage in Tempe, Arizona, with an annual premium of $134. It offers uncommon coverages like credit card forgery and theft from vehicles. Nationwide offers discounts like credit card forgery and theft from vehicles.

The credit card forgery discount covers unauthorized transactions on your credit cards and bank debit/ATM cards including forged checks and counterfeit money. The theft from vehicles discount extends protection to personal belongings stored in or on any motor vehicle, trailer, or watercraft, ensuring comprehensive coverage.

Best Renters Insurance in Tempe, Arizona
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score90Annual Premium$ 134
American FamilyMoneyGeek Score88Annual Premium$ 147
Auto-Owners InsuranceMoneyGeek Score88Annual Premium$ 114
AllstateMoneyGeek Score83Annual Premium$ 119
State FarmMoneyGeek Score82Annual Premium$ 192
TravelersMoneyGeek Score79Annual Premium$ 237
FarmersMoneyGeek Score49Annual Premium$ 427

Cheapest Renters Insurance in Tempe, AZ

In Tempe, Arizona, Auto-Owners offers the cheapest renters insurance with an annual premium of $114 for $20,000 in personal property coverage. The following providers are the top two cheapest providers in Tempe for $20,000 in personal property coverage and a $1,000 deductible, with MoneyGeek rating the cheapest renters insurance in Tempe with minimal consideration for customer service.

  • Auto-Owners: $114 per year
  • Allstate: $119 per year

Cheap renters insurance policies often have low personal property coverage limits. Higher personal property coverage limits can lead to higher monthly costs but offer better protection if you have many belongings.

Cheapest Renters Insurance in Tempe, Arizona
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Auto-Owners InsuranceMoneyGeek Score94Annual Premium$ 114
NationwideMoneyGeek Score92Annual Premium$ 134
AllstateMoneyGeek Score90Annual Premium$ 119
American FamilyMoneyGeek Score89Annual Premium$ 147
State FarmMoneyGeek Score83Annual Premium$ 192
TravelersMoneyGeek Score77Annual Premium$ 237
FarmersMoneyGeek Score41Annual Premium$ 427

Cheapest Renters Insurance With a High Deductible Tempe, AZ

In Tempe, Arizona, Auto-Owners 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 $112. A deductible is the amount you pay out-of-pocket before your insurance kicks in and can affect your rates. The following providers are the top two cheapest providers in Tempe for $20,000 in personal property coverage and a $2,000 deductible:

  • Auto-Owners: $112 per year
  • Nationwide: $113 per year

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 your deductible if you need to file a claim. A higher deductible can save you money on premiums, but you'll need to pay more out of pocket if you have a claim.

Cheapest High Deductible Renters Insurance in Tempe, Arizona
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Auto-Owners InsuranceMoneyGeek Score88Annual Premium$ 112
NationwideMoneyGeek Score92Annual Premium$ 113
AllstateMoneyGeek Score83Annual Premium$ 119
American FamilyMoneyGeek Score89Annual Premium$ 137
State FarmMoneyGeek Score82Annual Premium$ 184
TravelersMoneyGeek Score81Annual Premium$ 202
FarmersMoneyGeek Score49Annual Premium$ 395
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HOW TO SET YOUR DEDUCTIBLE

When selecting a deductible for your insurance policy, ensure it's an amount you can pay out of pocket if you need to file a claim. If you can afford it, opting for a higher deductible could decrease your annual premiums, leading to savings over time while still providing the financial protection you need.

Best Renters Insurance for Customer Service in Tempe, AZ

In Tempe, Arizona, Travelers stands out as the best renters insurance company for service quality with an annual premium of $237. The following providers are the top two best providers in Tempe, Arizona, for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability:

  • Travelers: MoneyGeek score of 85 out of 100 ($237 per year)
  • Nationwide: MoneyGeek score of 84 out of 100 ($134 per year)

Great customer service is essential for renters looking for insurance because it ensures a smooth and supportive experience, especially when filing claims. For example, when you make a claim, prompt and helpful service can make the process less stressful and more efficient.

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

Overview

Travelers ranks first in customer satisfaction and coverage in Tempe, Arizona, with an annual premium of $237. Travelers provides contents replacement cost, which covers personal property losses based on replacement cost without depreciation. It also offers valuable items insurance, which protects special property like jewelry, fine art, and computers from various losses, providing higher coverage limits for high-value items.

Best Renters Insurance For Service Quality in Tempe, Arizona
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score85Annual Premium$ 237
NationwideMoneyGeek Score84Annual Premium$ 134
American FamilyMoneyGeek Score83Annual Premium$ 147
State FarmMoneyGeek Score77Annual Premium$ 192
Auto-Owners InsuranceMoneyGeek Score72Annual Premium$ 114
FarmersMoneyGeek Score68Annual Premium$ 427
AllstateMoneyGeek Score63Annual Premium$ 119

Best Renters Insurance for High Personal Property Limits in Tempe, AZ

American Family offers the best renters insurance for those in Tempe, Arizona needing high personal property coverage, with an annual premium of $216 for $100,000 coverage. High personal property coverage ensures that renters with a significant amount of belongings are financially protected in case of loss or damage. For $100K in personal property coverage, the following providers are the top two best providers in Tempe:

  • American Family: MoneyGeek score of 92 out of 100 ($216 per year)
  • Nationwide: MoneyGeek score of 91 out of 100 ($265 per year)

Renters with a substantial number of possessions often require higher personal property coverage. This coverage safeguards items like furniture, electronics, and clothing in the event of theft, fire, or other covered losses.

Company logo for American Family Insurance
Best High Personal Property LimitAmerican Family Insurance
MoneyGeek Score:
92/ of 100

Overview

American Family ranks first in affordability and customer satisfaction for renters with expensive homes in Tempe, Arizona, with an annual premium of $216. It provides equipment breakdown coverage, which protects your gadgets and smart home devices from sudden mechanical issues. Additionally, their back-up of sewer or drain coverage helps mitigate repair costs from water back-ups, providing peace of mind for renters with expensive homes.

Best Renters Insurance for High Personal Property Limits in Tempe, Arizona
American FamilyMoneyGeek Score92Annual Premium$ 216
NationwideMoneyGeek Score91Annual Premium$ 265
State FarmMoneyGeek Score86Annual Premium$ 386
Auto-Owners InsuranceMoneyGeek Score85Annual Premium$ 321
TravelersMoneyGeek Score83Annual Premium$ 571
AllstateMoneyGeek Score80Annual Premium$ 354
FarmersMoneyGeek Score49Annual Premium$ 1,557
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SCHEDULED PERSONAL PROPERTY COVERAGE

If you own high-value items like jewelry or art, you may need additional coverage as standard policies often do not include them. Choose a provider that offers scheduled personal property coverage to ensure these valuables are protected.

Best Renters Insurance for Military Families in Tempe, AZ

In Tempe, USAA is the top-ranked renters insurance company, offering exclusive services for those with military backgrounds. The following providers are the top two best providers in Tempe for veterans for a policy with $20,000 in personal property coverage.

  • USAA: MoneyGeek score of 100 out of 100 ($98 per year)
  • Nationwide: MoneyGeek score of 90 out of 100 ($134 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. USAA is also the cheapest option in Tempe for military members.

Company logo for USAA
Best for MilitaryUSAA
MoneyGeek Score:
100/ of 100

Overview

USAA reigns as the premier renters insurance provider for those with a military background in Tempe, acclaimed for top-notch customer satisfaction and coverage. With an annual premium of just $98, it's a financially savvy choice.

USAA offers coverages like contents replacement cost; with this, USAA ensures that military renters can replace stolen or damaged items with new ones, providing peace of mind. Additionally, the reasonably rare worldwide personal property coverage is invaluable for those deployed abroad, safeguarding their belongings.

Overview: Best Renters Insurance for Military in Tempe, Arizona
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 98
NationwideMoneyGeek Score90Annual Premium$ 134
American FamilyMoneyGeek Score88Annual Premium$ 147
Auto-Owners InsuranceMoneyGeek Score88Annual Premium$ 114
AllstateMoneyGeek Score83Annual Premium$ 119
State FarmMoneyGeek Score82Annual Premium$ 192
TravelersMoneyGeek Score79Annual Premium$ 237
FarmersMoneyGeek Score49Annual Premium$ 427

Best Renters Insurance for Low Credit Scores in Tempe, AZ

In Tempe, the top renters insurance company for those with poor credit is Nationwide, with an annual premium of $212 for a policy with $20,000 in personal property coverage. The following providers are the top two best providers in Tempe for those with poor credit for the same type of policy:

  • Nationwide: MoneyGeek score of 92 out of 100 ($212 per year)
  • American Family: MoneyGeek score of 91 out of 100 ($258 per year)

Renters in Tempe with poor credit often face higher rates as they are viewed as higher-risk by providers. This risk perception stems from a history of credit issues that may indicate financial instability. To potentially lower these rates, renters with poor credit should work on improving their credit scores and seek out discounts where available.

Company logo for Nationwide
Best for Low Credit ScoresNationwide
MoneyGeek Score:
92/ of 100

Overview

Nationwide ranks 1st in affordability for renters with poor credit in Tempe, Arizona, with an annual premium of $212. Nationwide offers uncommon discounts like credit card forgery and theft from vehicles.

The credit card forgery discount covers unauthorized transactions on your credit cards and bank debit/ATM cards, providing peace of mind. The theft from vehicles discount extends protection to personal belongings stored in or on any motor vehicle, trailer, or watercraft, ensuring comprehensive coverage.

Best Renters Insurance for Low Credit Scores in Tempe, Arizona
Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverage:
Coverage:$20K Personal Property
NationwideMoneyGeek Score92Annual Premium$ 212
American FamilyMoneyGeek Score91Annual Premium$ 258
State FarmMoneyGeek Score89Annual Premium$ 398
TravelersMoneyGeek Score88Annual Premium$ 726
AllstateMoneyGeek Score84Annual Premium$ 183
FarmersMoneyGeek Score78Annual Premium$ 945
Auto-Owners InsuranceMoneyGeek Score51Annual Premium$ 3,802

Average Cost of Renters Insurance in Tempe, AZ

The average cost of renters insurance in Tempe, Arizona, is $196 annually, which is about $16 per month. This is slightly higher than the state average of $195 and significantly higher than the national average of $145.

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, remember that the average cost of renters insurance in Tempe may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, damage, or loss. 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 Tempe

The cost of renters insurance in Austin, Texas, 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 Tempe, AZ

Renters insurance covers personal property, liability, and additional living expenses. It protects against theft, fire, and other perils. Purchasing renters insurance provides financial protection and peace of mind, ensuring you are covered in case of unexpected events. Let's break down what renters insurance covers:

  • Personal Property Coverage: This covers your belongings in case of theft, fire, or other perils. For example, if your apartment in Arizona is burglarized, your renters insurance can help replace stolen items.
  • Personal Liability Coverage: This protects you if someone is injured in your rental or if you accidentally damage someone else's property. For instance, if a guest slips and falls in your Arizona apartment, this coverage can help with medical expenses and legal fees.
  • Loss Of Use Coverage: This helps with additional living expenses if your rental becomes uninhabitable due to a covered event. If a fire makes your Arizona apartment unlivable, loss of use coverage can pay for hotel stays and other extra costs.
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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 Tempe

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 earthquakes or 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 Tempe, AZ

The best renters insurance provider for you in Tempe ultimately depends on your needs. Below, we address some of the frequently asked questions to help you make an informed decision.

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

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.