1. Home
  2. Comparing Renters Insurance Quotes
Featured Experts
  • David Cusick
    David Cusick
  • Erik Wright
    Erik Wright
  • Earl L Jones
    Earl L Jones
  • Orlando Frasca
    Orlando Frasca
  • David Cusick
    David Cusick
  • Erik Wright
    Erik Wright
  • Earl L Jones
    Earl L Jones
  • Orlando Frasca
    Orlando Frasca
  • David Cusick
    David Cusick
  • Erik Wright
    Erik Wright
  • Earl L Jones
    Earl L Jones
  • Orlando Frasca
    Orlando Frasca
  • David Cusick
    David Cusick
  • Erik Wright
    Erik Wright
  • Earl L Jones
    Earl L Jones
  • Orlando Frasca
    Orlando Frasca
  • David Cusick
    David Cusick
  • Erik Wright
    Erik Wright
  • Earl L Jones
    Earl L Jones
  • Orlando Frasca
    Orlando Frasca
  • David Cusick
    David Cusick
  • Erik Wright
    Erik Wright
  • Earl L Jones
    Earl L Jones
  • Orlando Frasca
    Orlando Frasca
  • David Cusick
    David Cusick
  • Erik Wright
    Erik Wright
  • Earl L Jones
    Earl L Jones
  • Orlando Frasca
    Orlando Frasca

The average cost of renters insurance is about $13 a month, but if you shop around online and compare quotes from different companies, it could cost even less. When comparing online quotes, you’ll need to use consistent coverage levels to compare quotes accurately. Also, consider the company’s reputation and the level of customer service that they provide to find the best policy for your needs.

Insurance Rates

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

MoneyGeek’s Renters Insurance Quotes Comparison

MoneyGeek compared thousands of renters insurance quotes for our sample renter. These numbers can be a starting point for your own online shopping. As you can see, our renter saved $18 a month by going with the cheapest company, Allstate, over the most expensive company. Your quotes may be different, but only comparison shopping can often save you money.

Average Renters Insurance Quotes by Company

Scroll for more

swipe icon
  • Company
    Average Annual Quote
  • 1. Allstate
    $119
  • 2. State Farm
    $127
  • 3. Farmers
    $156
  • 4. Travelers
    $162
  • 5. MetLife
    $166
  • 6. Nationwide
    $331

The price of renters insurance varies depending on factors such as:

  • Coverage limits
  • Deductible
  • Where you live
  • Available discounts

Allstate had the cheapest average rates overall, so checking with them is a good first step.

Insurance Rates

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

Compare Renters Insurance Rates by State

Even though the average cost of renters insurance is $13 a month, tenants can pay much more or much less depending on their location. Individual states regulate insurance differently, and states prone to environmental hazards, such as hurricanes or other natural disasters, tend to pay more for insurance.

MoneyGeek gathered quotes and compiled averages by state so that you can compare the average rate for your state. This still might not reflect what you’ll pay, though. Your credit and claims history will affect your rates, as well as how much coverage you select.

Average Renters Insurance Quotes by State

Scroll for more

swipe icon
  • State
    Average Annual Quote
  • Alaska
    $91
  • Alabama
    $203
  • Arkansas
    $197
  • Arizona
    $147
  • California
    $238
  • Colorado
    $128
  • Connecticut
    $100
  • Washington D.C.
    $123
  • Delaware
    $129
  • Florida
    $119
  • Georgia
    $222
  • Hawaii
    $117
  • Iowa
    $103
  • Idaho
    $97
  • Illinois
    $124
  • Indiana
    $153
  • Kansas
    $128
  • Kentucky
    $125
  • Louisiana
    $160
  • Massachusetts
    $138
  • Maryland
    $130
  • Maine
    $88
  • Michigan
    $249
  • Minnesota
    $101
  • Missouri
    $150
  • Mississippi
    $215
  • Montana
    $114
  • North Carolina
    $106
  • North Dakota
    $79
  • Nebraska
    $119
  • New Hampshire
    $100
  • New Jersey
    $104
  • New Mexico
    $94
  • Nevada
    $129
  • New York
    $124
  • Ohio
    $142
  • Oklahoma
    $153
  • Oregon
    $114
  • Pennsylvania
    $194
  • Rhode Island
    $124
  • South Carolina
    $132
  • South Dakota
    $83
  • Tennessee
    $218
  • Texas
    $134
  • Utah
    $107
  • Virginia
    $127
  • Vermont
    $105
  • Washington
    $118
  • Wisconsin
    $108
  • West Virginia
    $121
  • Wyoming
    $125

Why and How to Compare Renters Insurance Quotes

The best way to save money on renters insurance is to shop around and compare quotes from different companies. Sometimes, policies with the same coverage limits will be much less expensive at a different company. For example, our renter saved $18 a month just by switching from Nationwide (the most expensive average rates) to Allstate (the cheapest).

Saving money is a top priority for most people, but you also need to compare coverages and customer service reputations. The best renters insurance companies combine the type of coverage you need with affordable rates.

How to Compare Renters Insurance Quotes

When you compare quotes for renters insurance, you’ll need to enter personal information and information about the property you’re renting. The amount of coverage you select, rather than the kind of property you rent, determines your renters insurance rates. Make sure to select coverage limits high enough to protect your personal property and keep those limits consistent across multiple quotes. If you don’t know how much your personal property is worth, start by taking an inventory.

tip icon
MONEYGEEK EXPERT TIP

Getting a renters insurance quote requires personal information such as:

  • Name
  • Date of birth
  • Number of roommates
  • Whether you have any pets

You will also need to provide some info about your rental property, including:

  • Address
  • Type of property (house, apartment, condo, townhouse, etc.)
  • Number of units on the property
  • Security and safety devices
  • Distance to the nearest fire hydrant or fire station

To compare quotes correctly, select the same personal property coverage limits, liability limits and deductible across all insurers. This will ensure you’re using the same coverage when comparing quotes across different companies.

Other Ways to Save On Renters Insurance Quotes

Comparing quotes is the best way to save money on renters insurance, but there are a few other ways you can save.

Once you’ve settled on a company, use these strategies to save even more money.

  • Strategy
    How You’ll Save
  • Select a higher deductible
    Keep in mind this will increase your out-of-pocket costs if you need to make a claim, so make sure you have enough cash to cover the deductible.
  • Bundle renters insurance with your auto insurance to save
    Most companies offer both auto and renters insurance and will offer a discount of up to 15% if you bundle these policies.
  • Sign up for automatic bill pay
    Make sure there’s money in your account on the day of the withdrawal.
  • Select a lower amount of personal property coverage or personal liability coverage
    If you buy a renters insurance policy with personal property coverage limits much higher than the value of your stuff, you’ll be paying extra for unnecessary protection. But make sure you get enough insurance to cover your necessary items.

Get a Renters Insurance Quote Today

Once you you've collected your personal information and decided on your personal property coverage and liability limits, it's time to get a renters insurance quote. Use our tool to compare renters insurance rates, or visit insurer websites and gather individual quotes yourself.

Insurance Rates

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

FAQ About Comparing Renters Insurance

Many people have no idea where to begin when shopping for renters insurance, so they forgo it altogether. According to the Insurance Information Institute, only 37% of renters have insurance. It’s a much better idea to protect yourself by getting renters insurance. These are some of the most common questions people have about renters insurance.


How much money can I save comparing renters insurance?This is an icon

The amount of money you’ll save by comparing quotes varies, but it can be significant. For example, our renter saved $18 a month by getting insured with Allstate instead of Nationwide.

What information do I need to compare renters insurance quotes?This is an icon

You’ll need basic personal information, such as your name, address, employment status and whether you have roommates. You’ll need some information about the property as well, such as how long you’ve lived there, type of property (house, apartment, condo, etc.) and how close it is to the nearest fire hydrant or station.

How do I get a renters insurance quote?This is an icon

You can either go to individual companies’ websites, or you can use an online broker that will collect several renters insurance quotes for you.

Expert Insight on Comparing Renters Insurance Quotes

MoneyGeek interviewed leading experts in the renters insurance field and asked them to weigh on some common questions.

  1. What are the most important things to look for when comparing online insurance quotes?

    Aside from the monthly premium, be sure to compare the following: What personal property is covered and up to what dollar amount? Are there any exclusions for coverage of certain events? How much liability coverage is on the policy? Are there any exclusions for the liability coverage?

    It’s important to make sure you’re comparing apples to apples. Check to see that all quotes you’re comparing online offer the same types and amounts of coverage, the same deductibles and the same discounts (if applicable) in order to make a fair comparison.

    Make sure the level of coverage is the same. If it’s not the same level of coverage, it’s not a fair comparison. Also, make sure you’re comparing the same deductible.

    The top things to look for in a renters policy are: personal property coverage, personal liability coverage, loss of use/additional living expenses and medical payments to others. These are four basic must-haves of any renters insurance policy. They should come as one package. However, some companies may make them separate or optional in order to keep costs down.

    Also, there are additional options for renters to consider based on their needs and the insurance carrier. For example, if a renter is renting a single-family home, they may ask if the policy covers sewer and drain damage to their personal property. If they have $50,000 in computer equipment, the renter may want to ask about an optional personal article rider for the equipment.

  2. Beyond comparing prices, what should consumers look for in a renters insurance policy?

    Don't just look at the cost and the coverage. Be sure to research the reviews, customer service and claims process of the companies. Should you ever need to make a claim, you'll want that process to be smooth and easy.

    See if you can get the amount of coverage you’ll need. It can be helpful to create a home inventory prior to shopping for renters insurance to understand the things in your apartment that need the most coverage (such as jewelry, art, electronics, furniture, etc.). Additionally, be aware of the things that renters insurance may not cover, such as bedbugs, identity fraud, floods or your roommate's possessions.

    Renters should do a little research on the companies they’re considering. J.D. Power and Consumer Reports publish customer satisfaction studies every year, and those offer valuable insight into insurance companies. If customers are generally satisfied with the insurer, their score will be higher and you’ll be more likely to have a good experience if you need to file a claim.

    They must look to see if the policy will provide either actual cash value replacement or real replacement cost coverage. There’s a big difference. An actual cash value policy takes into account the deprecation of the personal property, while real replacement cost does not. This is very important, as lower-priced policies tend to be actual cost value policies. Another thing to consider is how a policy matches your lifestyle.

    For example, Jane has a set of jet skis. Will the renters insurance policy extend liability coverage to the jet skis? Jack owns a few antiques. Can the policy provide coverage for those pieces? Renters must always make sure their fur babies are covered under the liability coverage of the policy. Renters should also check to see if the policy covers any changes, alterations or additions to the property done by the renter.

  3. What are the biggest mistakes people make when comparing renters insurance quotes online?

    The biggest mistake is not making sure that the quotes you’re comparing are truly comparable in their coverage. It can be easy to just look at prices but not read into the types and amount of coverage one provider may offer that another may not.

    The biggest mistake I’ve seen, even when people go to my site, is not having enough coverage to replace all of their personal items at once. They don’t have enough coverage for loss of use and additional living expenses for one year of the current market rent rates.

    They also add their roommates to the policy. Adding a roommate to a renters policy is like co-signing for a car loan. When any claim is made on the renters policy, it impacts all those named on the renters insurance policy for up to six years, depending on the state. Roommates should get their own renters insurance policy.


Erik Wright
Erik WrightOwner & CEO of New Horizon Home Buyers
Christopher O’Rourke
Christopher O’RourkeVP of Property Claims at Mercury Insurance
Melanie Musson
Melanie MussonHome Insurance Expert
Earl L Jones
Earl L JonesInsurance Agent and Agency Owner at Farmers Insurance

Learn More About Renters Insurance

About the Author


expert-profile

Gail Kellner is a freelance writer who specializes in personal finance and insurance. She loves to help people make the best financial decisions they can. When she's not writing about financial matters, she writes children's fiction and her first book will be coming out sometime soon (or so her publisher says). She has two delightful children on the autism spectrum and a husband who says he is not on the spectrum.


sources