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Cheap Renters Insurance Quotes | Cheapest Renters Insurance Companies of 2021

Cheap Renters Insurance Quotes |  Cheapest Renters Insurance Companies of 2021 - Renters insurance is one of the most reasonably priced types of insurance—on average, it costs $168 per year—and if you shop around, you might be able to get it for even less. Even so, you shouldn't forego customer service in order to save money: the cheapest renters insurance companies provide both.

Tallyprimesolution looked at renter insurance rates across the country to find the most affordable companies in each state and 25 major cities, as well as average national rates for seven highly rated companies.

The rates shown below are based on a policy for a 30-year tenant with $30,000 in personal property coverage and a $500 deductible, as well as $100,000 in liability coverage. Your own rates will vary depending on where you live, the amount of coverage you can choose, and other factors.


Cheap Renters Insurance Quotes - Best 5 Cheapest Rentals Companies:-

Cheap Renters Insurance Quotes |  Cheapest Renters Insurance Companies of 2021
Cheap Renters Insurance Quotes |  Cheapest Renters Insurance Companies of 2021


Company

NerdWallet rating

Annual premium

State Farm

4.5

rating 

$128

Auto-Owners

4.0

 rating 

$136

American Family

4.0

 rating 

$145

Allstate

4.0

rating 

$150

Nationwide

4.5

 rating 

$180

Farmers

4.0

 rating 

$208

USAA*

5.0

 rating 

$132

*Only active military, veterans, and their families are eligible for USAA policies.


Cheapest Renters Insurance Companies Of 2021

Small regional carriers, rather than the larger companies listed above, offer the most affordable renters insurance rates in many states. The cheapest insurer in your state can be found in the table below:-

State

Company

Average annual cost

Alabama

Cincinnati Insurance

$141

Alaska

Umialik

$71

Arizona

State Farm

$100

Arkansas

State Farm

$161

California

Auto Club of SoCal (AAA)

$102

Colorado

Auto-Owners

$76

Connecticut

Allstate

$93

Delaware

State Farm

$92

Florida

Florida Farm Bureau

$109

Georgia

Georgia Farm Bureau

$118

Hawaii

State Farm

$105

Idaho

Oregon Mutual

$80

Illinois

Auto Club Group (AAA)

$80

Indiana

Buckeye

$100

Iowa

Encova

$74

Kansas

State Farm

$104

Kentucky

Auto Club Group (AAA)

$122

Louisiana

The Hanover

$150

Maine

MetLife

$98

Maryland

MetLife

$104

Massachusetts

Quincy Mutual

$86

Michigan

Frankenmuth

$102

Minnesota

Auto Club Group (AAA)

$82

Mississippi

Mississippi Farm Bureau

$174

Missouri

Encompass

$116

Montana

State Farm

$105

Nebraska

State Farm

$85

Nevada

Country Financial

$128

New Hampshire

Allstate

$88

New Jersey

Cumberland Mutual

$102

New Mexico

State Farm

$99

New York

NYCM

$61

North Carolina

North Carolina Farm Bureau

$93

North Dakota

MetLife

$74

Ohio

Western Reserve

$71

Oklahoma

State Farm

$148

Oregon

CIG

$93

Pennsylvania

Penn National

$60

Rhode Island

Providence Mutual

$109

South Carolina

Auto-Owners

$104

South Dakota

State Farm

$70

Tennessee

Tennessee Farm Bureau

$114

Texas

Allstate

$108

Utah

Allstate

$89

Vermont

Concord Group

$75

Virginia

Cincinnati Insurance

$75

Washington

Pemco

$78

Washington, D.C.

Allstate

$139

West Virginia

State Farm

$105

Wisconsin

Auto Club Group (AAA)

$71

Wyoming

Nationwide

$87

Note:- USAA isn't on this list because its policies are only available to active military, veterans, and their families, not the general public. In Indiana, Kentucky, Mississippi, Missouri, Nebraska, New Jersey, Nevada, Tennessee, Texas, and Washington, DC, however, USAA has the lowest average renter insurance rates.

 

Renters Insurance

Renters insurance covers-1 your belongings both inside and outside of your apartment, condominium, or rental home, including computers, televisions, electronics, bicycles, furniture, and clothing. It may also cover your belongings outside of your home.

Averge cost of renters insurance


Renters insurance is less expensive than you might think. According to a survey conducted by the National Association of Insurance Commissioners (NAIC), renters insurance costs around $15 per month for coverage limits of around $35,000. For the price of a few cups of coffee a week, that's good coverage.

Liability

The purpose of liability is to protect you. This means you're covered if someone gets hurt at your house or if property damage occurs, as long as the policy provisions apply. Legal and medical expenses may be covered by renters insurance.

Loss of use

Do you want to make sure your cat or dog is covered by insurance? You could also include pet health insurance.

Do you require a temporary residence? When your home is rendered uninhabitable due to a covered loss, this coverage pays for additional living expenses. This coverage lasts for as long as it takes to repair or replace the premises, or for your family to relocate, up to 24 months.

Inflation Coverage

Your renters insurance will increase in price as the cost of living rises. Inflation protection ensures that your protection remains constant year after year.

What types of damages are covered by renters insurance?


Renters insurance can protect you and your personal possessions in the case of emergency. The building is covered by your landlord's insurance, but not your personal belongings. Renters insurance is required if you rent an apartment, condo, house, or other property. Get a renters insurance quote today, and we'll show you how simple and inexpensive it is to protect what matters to you.

A renters insurance policy from GEICO covers you and your belongings for a low cost for things like:
  • Fire
  • Damage caused by smoke
  • Vandalism \sTheft \sWindstorm
  • Damage caused by water
  • Injuries to visitors

What is covered by a renter's insurance policy?


The following are examples of items that are frequently covered:

  • Appliances and electronics (television, computer, etc.)
  • Clothing and furniture
  • Extra costs if a covered loss renders a property uninhabitable.
  • Damage to someone else's property by accident
  • If someone is injured on your property, you may be responsible for medical costs and/or legal fees.

Quote for Renters Insurance


Get Affordable Renters Insurance in Minutes - When you purchase a renters insurance policy from Allstate, you'll enjoy the peace of mind that comes with knowing you're protected by a reputable company.

WHAT IS COVERED BY RENTERS INSURANCE?


To learn more about what's covered in a renters policy, such as property coverage, guest medical coverage, and family liability coverage, watch this video about renters insurance.

ALLSTATE PROVIDES CHEAP RENTERS INSURANCE.


Renters insurance from Allstate® is not only dependable, but also affordable. If you have an Allstate auto insurance policy, you may be able to get renters insurance for as little as $4* per month. That's a small price to pay to know that your valuables are safe.

The cost of renters insurance is determined by a variety of factors, including the coverage limits you select. An Allstate agent can assist you in evaluating your options so that you can select the type and amount of coverage that best meets your requirements.

DISCOUNTS ON RENTAL INSURANCE


Even though renters insurance is already reasonably priced, there are numerous ways to save money and reduce your costs even further. Allstate offers the following renters insurance discounts:

Discount for multiple policies

Renters insurance can be added to a standard Allstate auto policy to help you save money.

Discount for those over the age of 55 and retired

Are you taking advantage of your retirement? Renters aged 55 and up can save up to 25% on their premiums if they are not actively seeking full-time employment.

In the United States, over 100 million people rent their homes. Unfortunately, many of them are unaware of the significance of having renters insurance to protect their personal property.

Renters insurance is a cost-effective way to gain valuable peace of mind. Protecting your possessions from fire, theft, and other common perils is necessary but does not have to be expensive. Your landlord's insurance will not cover your belongings, contrary to popular belief. If you're ready to feel safe in the knowledge that you're covered, contact Freeway Insurance today for the best renters insurance rates.

Who Requires Low-Cost Renters Insurance?


From a legal standpoint, renters are not required to have any type of home insurance. This is not the case in the world of car insurance, where most states require all drivers to have liability insurance.

Comparing car insurance rates is common, but many renters overlook it when it comes to renters insurance. You can compare rates for both auto and renters insurance with Freeway to find the most cost-effective option.

The truth that tenants insurance isn't required by law doesn't mean you shouldn't have it because it's the only way to protect your belongings from floods, fires, and other unforeseen events.

So, the best way to answer the question "Is renter's insurance worth it?" is to ask yourself another question: how important are your possessions to you?

What is the Recommended Amount of Renters Insurance Coverage?


How do you determine how much coverage you require? To begin, make a home inventory to create a list of your valuable possessions. Attempt to estimate how much it would cost to replace these items.

Second, start comparing and contrasting different rental insurance policies. Your goal is to find a policy that has a higher overall coverage limit than the value of your belongings. When choosing a policy, the amount of coverage is an important factor to consider.

Finally, look over the liability coverage (if any) in those policies to see if you require additional protection. Liability insurance protects you in the event that someone is injured in your home and decides to sue you. If you don't have enough money to fight a lawsuit, you should think about getting more liability insurance.

Remember that your landlord's insurance policy does not cover these expenses. You must have your own insurance policy.

Get a Custom Renters Insurance Quote Today

Now you know everything there is to know about renters insurance and why you need it. But that brings us to our final question: Do you know where to begin looking for the best insurance policy for your needs? It's time to look for low-cost renters insurance.

We specialise in providing the insurance coverage you need at a price you can afford at Freeway Insurance. We're also happy to assist you in combining renters insurance with other policies such as auto, motorcycle, or life insurance.

Start with an online quote if you're ready to get serious about renters insurance. If you prefer to speak with someone in person, you can always come to one of our offices. Remember, you can also get a free quote by calling (800) 777-5620 right now !

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Cheap Renters Insurance Companies Overview


CompanyJ.D. Power ratingAM Best rating
Allstate841/1,000A+ (Superior)
American Family840/1,000A (Excellent)
Erie865/1,000A+ (Superior)
Liberty Mutual825/1,000A (Excellent)
MetLifeNot ratedA+ (Superior)
State Farm836/1,000A++ (Superior)
Travelers807/1,000A++ (Superior)
USAA*888/1,000*A++ (Superior)
*Not officially ranked by J.D. Power due to eligibility restrictions
Bankrate combed through over a hundred companies that offer renters insurance policies to find the best renters insurance companies for 2021. The companies listed below have all received “Excellent” or “Superior” credit ratings from AM Best and have received positive customer satisfaction ratings from J.D. Power, a leading third-party source for industry research. Additionally, the companies listed below either include or offer additional protections, such as pet insurance and flood coverage, as standard features or as add-ons to your renters policy.

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