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2024

The Cheapest Renters Insurance in Texas

Cheap Renters Insurance Companies in Texas

For many Texans, the cost of renters insurance is the most important factor when choosing a policy. On average, the two cheapest companies in the state are USAA and Lemonade.

For our sample renter, a USAA policy costs an average of $81 per year or $7 monthly. However, USAA is only available to military members and their eligible family members. If you do not qualify for a policy with USAA, coverage with Lemonade costs an average of $84 annually.

The average annual and monthly premiums for every renters insurance provider are based on quotes across a diverse set of ZIP codes in the state for a policy with personal property coverage of $20,000, liability coverage of $100,000 and a deductible of $500.

Personal Property Coverage:

$20,000

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If you’re looking for both quality and cost, MoneyGeek ranked the top renters insurance companies in Texas to help you find the best option at the lowest price. Our scoring system considers affordability, financial strength and customer service in companies across Texas so you can find the best company for your needs.

Cheapest Renters Insurance Companies in Texas by City

Using MoneyGeek’s data, Lemonade offers the cheapest renters insurance in 11 out of 13 cities we studied in Texas. In some cities such as Dallas and Austin, USAA is the cheapest option. However, USAA is limited to current or former military members and is not widely available.

Companies With the Cheapest Renters Insurance in Texas by City

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  • City
    Cheapest Company
    Average Annual Premium
  • Lemonade
    $82
  • Lemonade
    $63
  • Allstate
    $68
  • Lemonade
    $83
  • Lemonade
    $60
  • Lemonade
    $82
  • Lemonade
    $87
  • Allstate
    $103
  • Lemonade
    $87
  • Lemonade
    $67
  • Lemonade
    $73
  • Lemonade
    $60
  • Lemonade
    $83
  • Compare Renters Insurance Rates

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

    Best Renters Insurance Companies in Texas

    The best renters insurance company in Texas is USAA, scoring 100 out of 100 based on MoneyGeek’s ranking. Note that USAA is only available to military members, veterans and their eligible family members. Lemonade comes in second with a score of 94 out of 100.

    MoneyGeek scores providers based on their affordability, customer service scores from J.D. Power and Associates and financial stability ratings from AM Best.

    The best renters insurance companies are not necessarily the cheapest, but those that offer the best balance of cost and quality. Policyholders should feel secure knowing their insurance company will support them with timely and effective service at a fair price.


    1
    USAA
    Score:100

    5/5

    Affordability

    5/5

    User Satisfaction

    5/5

    Financial Stability

    Geek Quick Take
    Geek Quick Take

    Gaining perfect scores in customer satisfaction, affordability and financial stability, USAA ranks as the overall best renters insurance provider in Texas. However, it’s only available to military members and eligible family members. Unique protections such as identity theft coverage are offered in USAA’s standard policy.

    More About USAA

    USAA is available in all states and offers the most comprehensive insurance coverage on the market, but its policies are restricted to military members and their families. Unique offerings like flood, earthquake and identity theft coverage are included in USAA’s standard renters insurance policy. Interested individuals can get an estimate through their online platform, which also features calculators for insurance, savings and debt management needs. Their mobile app enables on-the-go management of their insurance, banking, investing and other services.

    2
    Lemonade
    Score:94

    4.9/5

    Affordability

    4.9/5

    User Satisfaction

    3.5/5

    Financial Stability

    Geek Quick Take
    Geek Quick Take

    In Texas, Lemonade ranks as one of the best renters insurance companies due to its high customer satisfaction and affordability scores. Policyholders can opt to get their unique coverage for landlord property damage, which protects a landlord’s property in case of damage caused by pets or water.

    More About Lemonade

    Available in 32 states, Lemonade policies feature unique add-ons like flood, landlord property damage and equipment breakdown insurance. Their company offers only three discount opportunities, significantly lower than the national average of five. But they do have a helpful online portal for potential and current policyholders. Interested individuals can get a quote online and manage their accounts through Lemonade’s website or mobile application. Their app lets users view their policy, file claims and pay bills on the go.

    3
    Allstate
    Score:93
    4
    Nationwide
    Score:79
    5
    State Farm
    Score:75
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    The cheapest policies don’t always guarantee great service. Paying more to get the best renters insurance for your budget gives you peace of mind that your claims will be handled efficiently and saves money in the long run.

    Largest Renters Insurance Companies in Texas

    Don’t be afraid of big-name companies when choosing insurance. Larger companies generally have more financial stability, which is crucial to ensure your claims will be addressed. They also often invest in improving customer experience, making your claims process far easier.

    Company
    Market Share

    1.

    State Farm

    18.3%

    2.

    Allstate

    13.3%

    3.

    USAA

    10.0%

    4.

    Farmers

    9.9%

    5.

    Liberty Mutual

    6.4%

    Average Cost of Renters Insurance in Texas

    0
    0

    renters insurance is equal to the average.

    The average cost of renters insurance in Texas is $134 per year — $25 less than the national average of $159.

    This means that people in Texas typically pay $11 per month for renters insurance, $2 less than the monthly national average. These rates are for renters insurance policies with personal property limits of $20,000, liability limits of $100,000 and a deductible of $500.

    Keep in mind that the average cost of renters insurance in Texas will ultimately depend on how much personal property coverage you need. The greater the value of your personal property, the higher your premiums will be. Use the calculator below to estimate how much insurance you need based on the value of your items.

    clothing

    Total: $0


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    Comparing renters insurance quotes in Texas can help you save significantly. For example, our sample renter could save over $80 per year by choosing a cheaper option, Lemonade, instead of getting the most expensive policy from State Farm. That equals savings of approximately $7 per month.

    What Factors Impact Renters Insurance Cost in Texas

    Many different factors can impact how much you pay for renters insurance, from where you live to the type of coverage you’re seeking. Keep these factors in mind when shopping around for renters insurance in Texas.

    Compare Renters Insurance Rates

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

    Renters Insurance in Texas: What You Need to Know

    Renters insurance is a low-cost way to protect your assets in the event of an unexpected event or disaster. It is especially helpful in case of burglary, fire or destruction caused by severe weather conditions.

    In Texas, 34.9% of the population are renters and the average rent price is $1,091 per month. For a standard policy with $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible policy, the average monthly premium is $11. This is 1.02% of the price of rent.

    What Renters Insurance Typically Covers in Texas

    Before you purchase renters insurance in Texas, it’s important to understand what’s covered and what’s not. While some renters insurance options will offer additional benefits like identity theft insurance, most plans will cover the four basic types of incidents: personal property, additional living expenses, liability insurance and medical payments.

    In Texas, personal property insurance will cover many of the damages of major natural disasters such as thunderstorms, wildfires and tornadoes.

    What Renters Insurance Typically Does Not Cover in Texas

    As with all insurance policies, be sure to read the fine print to understand what is covered and what is not. Ask your agent all of your pertinent questions, as they can make the difference between a claim being accepted or denied.

    Although renters insurance in Texas covers many emergency situations, it doesn’t protect you from every situation. These common issues are usually not covered by your rental insurance policy.

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    If you’re unsure about what renters insurance entails, the Texas Department of Insurance can help. This agency exists to help you learn about all things related to insurance, such as how to file a claim, avoid getting scammed and get help.

    You can reach the Texas Department of Insurance through the following channels:

    • Office Address: 333 Guadalupe, Austin, TX 78701
    • Consumer Help Line: 800-252-3439

    Their consumer helpline is open from 8 a.m. to 5 p.m. CT, Monday through Friday.

    FAQs About Renters Insurance in Texas

    Renters insurance can be a confusing topic for new renters. When it comes to renters insurance in Texas, MoneyGeek has answers to some of your most commonly asked questions.

    What is the cheapest renters insurance company in Texas?
    What is the best renters insurance company in Texas?
    How much does renters insurance cost in Texas?
    Is renters insurance required in Texas?
    Compare Renters Insurance Rates

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

    Renters Insurance in Texas Analysis: Methodology

    MoneyGeek analyzed renters insurance premiums from seven of the top insurance companies in Texas that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Texas. Quotes were gathered for policies with personal property coverage of $20,000, liability coverage of $100,000 and a deductible of $500.

    About Mark Fitzpatrick


    Mark Fitzpatrick headshot

    Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick 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.


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