Best and Cheapest Renters Insurance in Torrance, CA (Sept 2024)


Updated: September 13, 2024

Advertising & Editorial Disclosure

Travelers is the best renters insurance company in Torrance, California, with a MoneyGeek score of 89 and an average annual premium of $124 for $20,000 in personal property coverage. Capital Insurance Group is the cheapest, with a MoneyGeek score of 89 and an annual premium of $82.

The best homeowners insurance provider balances customer service with affordability. Depending on your needs, other providers may be best. MoneyGeek also reviewed the best and cheapest renters insurance in California for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersTorrance, CA
2024

Table of Contents

Why Trust MoneyGeek? We used information from the California Department of Insurance and Quadrant Information Services to determine the top renters insurance in Torrance.

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

768Quotes Analyzed
 
8Providers Analyzed
 
2ZIP Codes

Overall Best Renters Insurance in Torrance, CA

The best renters insurance providers in Torrance for a policy with $20,000 in personal property coverage are:

  • Travelers: MoneyGeek score of 89 out of 100 ($124 per year)
  • State Farm: MoneyGeek score of 86 out of 100 ($121 per year)

Travelers balances cost effectiveness with service quality, earning an affordability score of 45 out of 55 and a customer satisfaction score of 28 out of 30.

Company logo for Travelers
Best OverallTravelers
MoneyGeek Score:
89/ of 100

Overview

In Torrance, Travelers ranks first for coverages, with an average annual premium of $124. It offers contents replacement cost, covering personal property losses at replacement cost without deducting for depreciation. Its scheduled personal property coverage financially protects high-value items like jewelry, fine art and musical instruments against various losses, ensuring renters peace of mind.

Best Renters Insurance in Torrance, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score89Annual Premium$ 124
State FarmMoneyGeek Score86Annual Premium$ 121
NationwideMoneyGeek Score86Annual Premium$ 130
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 82
AllstateMoneyGeek Score81Annual Premium$ 122
FarmersMoneyGeek Score69Annual Premium$ 173
ChubbMoneyGeek Score61Annual Premium$ 241

Cheapest Renters Insurance in Torrance, CA

In Torrance, Capital Insurance Group offers the cheapest renters insurance at $82 annually for $20,000 in personal property coverage.

  • Capital Insurance Group: $82 per year
  • State Farm: $121 per year

Personal property coverage helps replace or repair your belongings if damaged, lost or stolen. Cheap renters insurance policies often have lower personal property coverage limits. Higher coverage limits can lead to higher monthly costs but offer better protection if you have many personal belongings.

Cheapest Renters Insurance in Torrance, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Capital Insurance GroupMoneyGeek Score89Annual Premium$ 82
TravelersMoneyGeek Score86Annual Premium$ 124
State FarmMoneyGeek Score85Annual Premium$ 121
NationwideMoneyGeek Score82Annual Premium$ 130
AllstateMoneyGeek Score82Annual Premium$ 122
FarmersMoneyGeek Score65Annual Premium$ 173
ChubbMoneyGeek Score49Annual Premium$ 241

Cheapest Renters Insurance With a High Deductible in Torrance, CA

Capital Insurance Group offers Torrance's cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible. Here are the top options for higher deductible policies:

  • Capital Insurance Group: $64 per year
  • Travelers: $100 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest. Higher deductibles usually mean lower premiums, while lower deductibles result in higher premiums. Balancing these factors ensures adequate coverage when filing a claim. Renters should consider their financial situation and potential risks when selecting a deductible.

Cheapest High Deductible Renters Insurance in Torrance, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 64
TravelersMoneyGeek Score90Annual Premium$ 100
NationwideMoneyGeek Score88Annual Premium$ 103
State FarmMoneyGeek Score82Annual Premium$ 119
AllstateMoneyGeek Score77Annual Premium$ 122
FarmersMoneyGeek Score66Annual Premium$ 169
ChubbMoneyGeek Score61Annual Premium$ 223
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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 maintaining adequate coverage.

Best Renters Insurance for Customer Service in Torrance, CA

Travelers offers the best renters insurance for service quality in Torrance, with an average annual premium of $124 for $20,000 in personal property coverage.

  • Travelers: MoneyGeek score of 96 out of 100 ($124 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($130 per year)

Great customer service is crucial for renters seeking insurance because it ensures a smooth and supportive experience, particularly during claims. Efficient service means your case is handled quickly and effectively, reducing stress and helping you recover faster. MoneyGeek evaluates insurers based on customer satisfaction from J.D. Power surveys, which assess service quality in renters insurance.

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

Overview

Travelers ranks first in customer satisfaction and coverages in Torrance, with an annual premium of $124.

Travelers' contents replacement cost add-on covers personal property losses at full replacement value without deducting for depreciation. Its scheduled personal property coverage offers higher coverage limits for special items like jewelry, fine art, musical instruments and computers without requiring appraisals or item listings.

Best Renters Insurance For Service Quality in Torrance, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
TravelersMoneyGeek Score96Annual Premium$ 124
NationwideMoneyGeek Score95Annual Premium$ 130
ChubbMoneyGeek Score93Annual Premium$ 241
State FarmMoneyGeek Score86Annual Premium$ 121
AllstateMoneyGeek Score77Annual Premium$ 122
FarmersMoneyGeek Score77Annual Premium$ 173
Capital Insurance GroupMoneyGeek Score61Annual Premium$ 82

Best Renters Insurance for High Personal Property Limits in Torrance, CA

Travelers offers the best renters insurance in Torrance, with an annual premium of $299 for $100,000 in personal property coverage.

  • Travelers: MoneyGeek score of 94 out of 100 ($299 per year)
  • State Farm: MoneyGeek score of 93 out of 100 ($275 per year)

Renters with many belongings need higher personal property coverage to financially protect items like furniture, electronics and clothing from theft, damage or loss. Higher coverage can increase premiums, so find a provider that balances cost with excellent service. High-value items like jewelry or art may need additional coverage beyond standard policies.

Company logo for Travelers
Best High Personal Property LimitTravelers
MoneyGeek Score:
94/ of 100

Overview

Travelers is the top provider for expensive homes in Torrance, with an impressive MoneyGeek score of 94. Renters can expect an annual premium of $299, making it an affordable choice for high-value properties.

It offers contents replacement cost, covering personal property losses at replacement value without depreciation, and scheduled personal property coverage for high-value items like jewelry and fine art without requiring appraisals or item listings.

Best Renters Insurance for High Personal Property Limits in Torrance, CA
TravelersMoneyGeek Score94Annual Premium$ 299
State FarmMoneyGeek Score93Annual Premium$ 275
NationwideMoneyGeek Score84Annual Premium$ 407
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 253
AllstateMoneyGeek Score80Annual Premium$ 375
FarmersMoneyGeek Score74Annual Premium$ 451
ChubbMoneyGeek Score61Annual Premium$ 709
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SCHEDULED PERSONAL PROPERTY COVERAGE

You need additional coverage if you own valuables like fine jewelry or art since standard policies often don't cover these items. Choose a provider offering scheduled personal property coverage to protect your high-value possessions.

Best Renters Insurance for Military Families in Torrance, CA

For renters with military backgrounds in Torrance, the top providers for a policy with $20,000 in personal property coverage are:

  • USAA: MoneyGeek score of 100 out of 100 ($147 per year)
  • Travelers: MoneyGeek score of 89 out of 100 ($124 per year)

USAA provides tailored products and discounts for active military members, veterans and their families. While it's not the cheapest in the city, USAA's specialized benefits often make it a better choice for service members.

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

Overview

USAA is the top renters insurance provider for military members in Torrance, excelling in customer satisfaction and coverages. With an annual premium of $147, USAA offers affordability and comprehensive protection.

Its contents replacement cost coverage ensures that stolen or damaged items can be replaced with new ones. Additionally, its worldwide personal property coverage financially protects deployed military members, providing peace of mind even when abroad.

Best Renters Insurance for Military in Torrance, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAAMoneyGeek Score100Annual Premium$ 147
TravelersMoneyGeek Score89Annual Premium$ 124
State FarmMoneyGeek Score86Annual Premium$ 121
NationwideMoneyGeek Score86Annual Premium$ 130
Capital Insurance GroupMoneyGeek Score82Annual Premium$ 82
AllstateMoneyGeek Score81Annual Premium$ 122
FarmersMoneyGeek Score69Annual Premium$ 173
ChubbMoneyGeek Score61Annual Premium$ 241

Average Cost of Renters Insurance in Torrance, CA

The average renters insurance cost in Torrance is $142 annually ($12 monthly), slightly cheaper than California's average of $148 and the national average of $145. These rates are based on a policy with $20,000 in personal property limit, $100,000 in liability limit and a $1,000 deductible.

Renters insurance costs can vary depending on the amount of personal property coverage you choose. Consider using a personal property coverage calculator to estimate your needs and find a suitable policy.

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 Torrance

The cost of renters insurance in Torrance depends on several factors. Understanding them can help you find a policy that fits your budget and needs.

  • Location: Crime rates and weather risks in your area can affect your premium.
  • Coverage amount: Higher coverage limits increase your insurance costs.
  • Deductible: A higher deductible lowers your monthly premium but means higher out-of-pocket costs in a claim.
  • Claims history: A history of claims may lead to higher premiums due to increased perceived risk.
  • Credit score: A better credit record can result in lower premiums.

What Renters Insurance Covers in Torrance, CA

Renters insurance covers personal property, liability and additional living expenses. It protects financially against theft, fire and other unforeseen events. Liability coverage helps in case of lawsuits for injuries or property damage.

Here's what renters insurance covers:

  • Personal property coverage: Protects your belongings against fire, theft or vandalism. For example, if a fire damages your electronics in your California rental, this coverage helps replace them.
  • Personal liability coverage: Covers legal expenses if someone is injured in your rental. For instance, if a guest slips and falls in your California apartment, this coverage would handle the medical bills and potential lawsuits.
  • Loss of use coverage: Covers additional living expenses if your rental becomes uninhabitable. If your California apartment is under repair, loss of use coverage can help pay for hotel stays.
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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 Torrance

While renters insurance provides a financial safety net, it doesn't cover every situation:

  • Natural disasters: Standard policies typically exclude damage from floods.
  • Roommate's belongings: Personal property coverage usually doesn't extend to a roommate's possessions unless they're listed on the policy.
  • High-value items: Expensive items like jewelry or electronics may require additional coverage if their value exceeds the policy limit.
  • Business equipment: Property used for business purposes is generally not covered under standard renters insurance.
  • Pest damage: Damage from pests like bed bugs or rodents is usually not covered.
  • Car theft: While personal property stolen from your car may be covered, the theft of the vehicle itself is not.

FAQ: Renters Insurance in Torrance, CA

Choosing the best renters insurance provider in Torrance depends on your coverage needs and budget. We address some frequently asked questions to help you make an informed decision.

How much is renters insurance in Torrance, California, on average?
What is the cheapest renters insurance company in Torrance, CA?
What is the best renters insurance company in Torrance, CA?
Do I need renters insurance in Torrance, CA?

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.