7
Best Renters Insurance Companies Of 2026
Lemonade
Get covered in as little as 90 seconds
Lemonade offers AI assistance for securing policies and filing claims
Availability
41 states + DC
Lemonade offers AI assistance for securing policies and filing claims
41 states + DC
Summary: The Best Renters Insurance Companies
*USAA renters insurance is available only to the military, veterans and their families.
The Best Renters Insurance Companies
State Farm
Best for Price
State Farm
Average renters insurance cost for $15,000 of coverage
$104 a year
Complaint level
Low
$104 a year
Low
State Farm stood out in our evaluation because it has the lowest average rates among the companies we analyzed for personal property coverage limits of $15,000 up to $200,000. A low level of complaints also makes State Farm a strong choice for renters.
More: State Farm Renters Insurance Review
| Pros of State Farm renters insurance | Cons of State Farm renters insurance |
|---|---|
|
The only company in our analysis with average rates under $200 annually for $50,000 worth of coverage
|
Although its complaint record is solid, a few competitors scored better
|
|
Competitive rates for renters with poor credit
| |
|
Offers optional coverage for cyberattacks, cyber extortion, identity restoration and earthquake insurance
|
State Farm offers renters insurance in all 50 states and Washington, D.C.
USAA
Best for Military
USAA
Average renters insurance cost for $15,000 of coverage
$123 a year
Complaint level
Very low
$123 a year
Very low
If you’re in the military or from a military family, you likely already know about USAA insurance. It offers very competitive renters insurance rates and some special perks to service people. Those who are eligible should consider USAA insurance.
More: USAA Renters Insurance Review
| Pros of USAA renters insurance | Cons of USAA renters insurance |
|---|---|
|
Offers various discounts for military members, such as for living on base or being enrolled in a service academy or military college
|
Available only to active military personnel and veterans and their families
|
|
Offers electronics coverage between $1,000 and $10,000 to repair or replace your devices such as smartphones, laptops, drones, gaming consoles and home theater systems from common accidents like drops, spills and lost items
|
Renters insurance rates are higher than average for those with poor credit
|
|
Waives your deductible if your military equipment is lost or stolen
|
USAA sells renters insurance in all 50 states and Washington, D.C.
Country Financial
Best for Expanded Coverage
Country Financial
Average renters insurance cost for $15,000 of coverage
$171 a year
Complaint level
Very low
$171 a year
Very low
We like Country Financial for its ability to customize your renters insurance policy through expanded coverage and add-ons. For example, the Premier option covers accidents like power surge damage to appliances, antique breakage and damage from spilled paint.
| Pros of Country Financial renters insurance | Cons of Country Financial renters insurance |
|---|---|
|
Optional coverage for sump pump failure and sewer or drain backups
|
Only available in 19 states
|
|
Provides a “welcome” discount to new customers that lasts for three years
|
Country Financial sells renters insurance in 19 states:
- Alabama
- Alaska
- Arizona
- Colorado
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Minnesota
- Missouri
- Nevada
- North Dakota
- Oklahoma
- Oregon
- Tennessee
- Washington
- Wisconsin
Auto-Owners
Best for Discounts
Auto-Owners
Average renters insurance cost for $15,000 of coverage
$118 a year
Complaint level
Very low
$118 a year
Very low
We recommend renters take a look at Auto-Owners for its competitive rates and opportunities for even deeper savings through its wide variety of discounts, such as ones for having multiple policies, getting an advance quote, going paperless, and having protective devices in your rental—including deadbolt locks, smoke detectors and fire extinguishers. You might also qualify for a hurricane/wind mitigation discount if your home has construction features that protect it from wind damage during major storms.
| Pros of Auto-Owners renters insurance | Cons of Auto-Owners renters insurance |
|---|---|
|
Lowest rates for renters with excellent credit among the companies we looked at
|
Renters insurance rate for $200,000 of personal property coverage is high compared to top competitors
|
|
Auto-Owners’ optional Renters Plus package provides insurance for issues like food spoilage from power outages and water backup of sewer or drains
|
Rates for renters with lower credit scores are high
|
Auto-Owners sells renters insurance in 26 states:
- Alabama
- Arizona
- Arkansas
- Colorado
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Michigan
- Minnesota
- Missouri
- Nebraska
- North Carolina
- North Dakota
- Ohio
- Pennsylvania
- South Carolina
- South Dakota
- Tennessee
- Utah
- Virginia
- Wisconsin
Westfield
Great for combining auto and renters insurance
Westfield
Average renters insurance cost for $15,000 of coverage
$159 a year
Complaint level
Low
$159 a year
Low
We like Westfield because it offers an easy way to combine auto and renters policies. Its Wespak policy allows you to save time and potentially money by combining auto and renters insurance under one policy with one bill and one deductible.
Related: Westfield Home Insurance Review
| Pros of Westfield renters insurance | Cons of Westfield renters insurance |
|---|---|
|
Offers very competitive rates, particularly for higher levels of personal property coverage such as $75,000, $100,000 and $200,000
|
Westfield renters insurance is only available in 10 states
|
|
Its rates for renters with poor credit are nearly $300 lower than average
|
Not many discounts available for renters
|
Westfield offers renters insurance in these 10 states:
- Illinois
- Indiana
- Iowa
- Kentucky
- Michigan
- Minnesota
- Ohio
- Pennsylvania
- Tennessee
- West Virginia
American Family
Best for Families
American Family
Average renters insurance cost for $15,000 of coverage
$175 a year
Complaint level
Very low
$175 a year
Very low
We like American Family because it provides a discount for young adults who are children of current customers. In addition to other discounts, such as loyalty discounts, multipolicy discounts and smart home discounts, you’ll also find competitive rates.
| Pros of American Family renters insurance | Cons of American Family renters insurance |
|---|---|
|
Young adults—ages 18 to 30—who are children of American Family customers can qualify for a generational discount to save on renters insurance
|
Only available in 19 states
|
|
Offers a variety of handy optional coverage types, such equipment breakdown, sewer backup and flash flood insurance
|
Its personal liability coverage has a $25,000 limit applied to dangerous dogs and exotic animals
|
American Family sells renters insurance in 19 states:
- Arizona
- Colorado
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Minnesota
- Missouri
- Nebraska
- Nevada
- North Dakota
- Ohio
- Oregon
- South Dakota
- Utah
- Washington
- Wisconsin
How To Find the Best Renters Insurance
Jason Metz
Insurance Lead Editor
Amy Danise
Insurance Managing Editor
Michelle Megna
Insurance Lead Editor
Ashlee Valentine
Insurance Editor
Penny Gusner
Insurance Senior Writer
Create a Home Inventory
I suggest you create a home inventory to figure out how much renters insurance you need for your personal property. It can be as simple as creating one with a pen and paper, a spreadsheet, or photos and video on your smartphone. You’ll then use your home inventory as the baseline to set your personal property coverage.
Insurance Lead Editor
What Could You Lose in a Lawsuit?
Figuring out how much liability coverage you need can be confusing. That’s why I recommend buying enough liability insurance to cover what could be taken from you in a lawsuit. You’ll want to take assets like bank accounts, real estate and vehicles into account. If you need even more liability insurance, you can also buy an umbrella insurance policy.
Insurance Managing Editor
Go With Replacement Cost Coverage
I would go with replacement cost coverage over actual cash value coverage. That’s because replacement cost coverage doesn’t take depreciation into account and pays to replace your damaged or stolen items with new items. But ACV pays only the value of your damaged or stolen items, minus depreciation. Replacement cost coverage is more expensive than ACV, but it’s much better coverage.
Insurance Lead Editor
Schedule Your Jewelry and Other High-Value Items
I’d encourage you to schedule high-value items like jewelry. That’s because renters insurance policies have “special limits” for stolen jewelry, such as $1,500. That won’t go very far if a thief swipes your $5,000 engagement ring. Scheduling personal property like artwork, collectibles and musical instruments covers your items for their full value.
Insurance Editor
Compare Renters Insurance Quotes
I recommend you compare renters insurance quotes from multiple insurers to find the best price. Make sure you request quotes for the same amount of coverage so you can accurately compare renters insurance policies.
Insurance Senior Writer
How to Find the Best Renters Insurance for Different Situations
Your particular living circumstances may affect the renters insurance you choose.
You’re a Pet Owner
The personal liability portion of a renters insurance policy pays the medical costs of others if your pet injures them. It can also pay for property damage caused by your pet and your legal fees if someone sues you. Some companies exclude coverage for certain dog breeds. If that impacts you, look for a separate dog liability insurance policy or switch insurance companies.
You Have a Roommate
Many renters insurance companies require roommates to have their own separate policies. Given the relatively low cost of coverage, it can be beneficial to have your own policy even if your state and insurer allow you to share renters insurance with a roommate. You won’t have to change your policy if your roommate moves out, and you’ll only be responsible for claims you make.
You’re a College Student
If you rent a house or apartment off-campus, your landlord may require you to have renters insurance. Even if it isn’t required, renters insurance for college students has advantages. Buying a policy means you can be compensated if your belongings are damaged or stolen. The insurance can pay for lawsuits against you and provide temporary housing if you’re displaced due to a problem covered by your policy.
What Is Renters Insurance?
Renters insurance is a type of insurance specifically designed to meet the needs of tenants. It’s important because a landlord’s insurance covers the building itself, not your belongings. Without renters insurance, you’d have to pay to replace all your possessions if a fire, tornado or other disaster rips through the building.
Beyond covering your belongings, renters insurance also includes liability coverage and insurance for additional living expenses. Plus, coverage for guest medical payments can pay out for minor injuries to guests (typically up to $1,000), no matter who’s responsible for the injury.
How Much Does Renters Insurance Cost?
Renters insurance costs an average of $153 a year for a policy with $15,000 of personal property coverage, according to our analysis of top companies. That comes out to around $13 a month.
- The average cost of renters insurance is $202 a year for a policy with $30,000 of personal property coverage, according to our research. The average monthly cost is $17.
- For double the personal property coverage—$30,000 compared to $15,000—you’d pay only a little more, around $4 more a month.
Renters insurance is an inexpensive way to protect your belongings and get valuable liability insurance. Renters insurance costs are often very similar among companies.
Renters Insurance Costs by Company
| Company | Average annual renters insurance cost for $15,000 of personal property coverage | Average annual renters insurance cost for $30,000 of personal property coverage | Average annual renters insurance cost for $50,000 of personal property coverage |
|---|---|---|---|
|
$104
|
$129
|
$165
| |
|
$123
|
$164
|
$208
| |
|
Country Financial
|
$171
|
$185
|
$219
|
|
Auto-Owners
|
$118
|
$154
|
$206
|
|
Westfield
|
$159
|
$184
|
$218
|
|
American Family
|
$175
|
$212
|
$255
|
*USAA renters insurance is available only to the military, veterans and their families.
Renters Insurance Costs by State
Renters insurance prices vary by state. Wyoming ($7 per month), Alaska ($9 per month) and North Dakota ($9 per month) have the cheapest renters insurance costs for $15,000 worth of personal property coverage, according to our analysis.
Renters in Rhode Island ($29 per month), Louisiana ($24 per month) and Georgia ($22 per month) pay the most expensive rates for renters insurance.
| State | Average annual renters insurance cost | Average monthly renters insurance cost |
|---|---|---|
|
Alabama
|
$205
|
$17
|
|
Alaska
|
$112
|
$9
|
|
Arizona
|
$182
|
$15
|
|
Arkansas
|
$223
|
$19
|
|
$209
|
$17
| |
|
Colorado
|
$152
|
$13
|
|
Connecticut
|
$173
|
$14
|
|
Delaware
|
$134
|
$11
|
|
$147
|
$12
| |
|
Georgia
|
$262
|
$22
|
|
Hawaii
|
$124
|
$10
|
|
Idaho
|
$120
|
$10
|
|
Illinois
|
$181
|
$15
|
|
Indiana
|
$151
|
$13
|
|
Iowa
|
$112
|
$9
|
|
Kansas
|
$148
|
$12
|
|
Kentucky
|
$143
|
$12
|
|
Louisiana
|
$289
|
$24
|
|
Maine
|
$110
|
$9
|
|
Maryland
|
$144
|
$12
|
|
Massachusetts
|
$204
|
$17
|
|
$250
|
$21
| |
|
Minnesota
|
$139
|
$12
|
|
Mississippi
|
$250
|
$21
|
|
Missouri
|
$224
|
$19
|
|
Montana
|
$134
|
$11
|
|
Nebraska
|
$155
|
$13
|
|
Nevada
|
$148
|
$13
|
|
New Hampshire
|
$109
|
$9
|
|
$145
|
$12
| |
|
New Mexico
|
$116
|
$10
|
|
$233
|
$19
| |
|
$119
|
$10
| |
|
North Dakota
|
$102
|
$9
|
|
$141
|
$12
| |
|
Oklahoma
|
$186
|
$16
|
|
$138
|
$12
| |
|
$160
|
$13
| |
|
Rhode Island
|
$346
|
$29
|
|
South Carolina
|
$154
|
$13
|
|
South Dakota
|
$109
|
$9
|
|
Tennessee
|
$144
|
$12
|
|
$152
|
$13
| |
|
Utah
|
$134
|
$11
|
|
Vermont
|
$127
|
$11
|
|
Virginia
|
$127
|
$11
|
|
Washington
|
$170
|
$11
|
|
West Virginia
|
$163
|
$14
|
|
Wisconsin
|
$108
|
$14
|
|
Wyoming
|
$89
|
$7
|
Related: The Best And Worst Cities For Renters
What Does Renters Insurance Cover?
Renters insurance covers your personal belongings and also includes other valuable coverage types. Here’s what you’ll find in a standard renters insurance policy:
- Personal property coverage: This includes your belongings such as furniture, jewelry, rugs, clothing, kitchenware and electronics for problems like theft, fire, smoke and vandalism.
- Liability insurance: This pays for accidental property damage and injuries caused to others. For example, if someone falls in your apartment, your liability can pay their medical bills and your legal costs if you get sued.
- Medical payments to others: This coverage pays for smaller medical bills, no matter who was at fault for the accident, like if your guest slips in your apartment and suffers a minor injury. This coverage is usually sold in small amounts, such as $1,000.
- Additional living expenses: If you can’t live in your home because of a problem covered by your policy (like a fire), this pays for costs like hotel bills, restaurant meals and pet boarding fees. Additional living expenses coverage is also referred to as loss of use.
Does Renters Insurance Cover Roommates?
You can share renters insurance with roommates if your insurance company and state allow it. You’ll need to list your roommate’s name as an insured on your renters insurance policy.
Many renters insurance companies require roommates to have their own policies. That means your roommate won’t be covered under your policy if their belongings are stolen or destroyed by a problem such as a fire.
Is Renters Insurance Worth It?
Renters insurance can be worth it and is an affordable way to cover personal belongings, and don’t forget about its liability insurance and coverage for additional living expenses.
Here are common scenarios that renters insurance can cover:
- Your personal belongings are destroyed. In a worst case scenario, like a fire, renters insurance will pay to replace your stuff. It’s a good idea to buy “replacement cost coverage” with your renters policy, so you’re reimbursed for buying new items, not the depreciated value of what you lost.
- Your personal belongings are stolen. Renters insurance covers items stolen inside and outside your home. For example, if someone steals your luggage from a hotel room, that’s covered.
- You own high-value items. If you own expensive items such as jewelry, art or musical instruments, renters insurance can pay to replace them if they are stolen or damaged by a problem covered by your policy. You may need to “schedule” certain types of items if your policy has sub-limits. For example, a renters insurance policy might have a $1,000 limit for stolen jewelry.
- Someone gets hurt while visiting your home. Accidents happen. If someone gets hurt in your home and you’re legally liable, renters insurance will cover medical bills, legal costs and judgments.
- You have a dog. If your dog bites someone—whether inside your apartment or away from home—you could suffer a major financial setback without renters insurance. Liability coverage within renters insurance can cover lawsuits like this.
- You need money to live elsewhere if your apartment is being repaired. Coverage for additional living expenses pays extra costs such as hotel bills and restaurant meals if you can’t live at home because of a problem covered by the policy. For example, if you have to live in a hotel after a fire, you can get reimbursed.
How to Get a Renters Insurance Quote Online
It’s simple to get renters insurance online. You can even do it from your couch and without talking to a human. Insurance company websites generally offer free quotes online.
You may want to have basic information handy, such as how much coverage you want for your belongings, and how much liability insurance you need.
When shopping for renters insurance, don’t make decisions based solely on price. Instead, use additional metrics like customer service and consumer reviews.
How Do I file a Renters Insurance Claim?
Filing a renters insurance claim is fairly straightforward, but there are a couple of things to do before notifying your insurance company. First, contact your landlord to inform them of any situation. If theft is involved, you’ll need to file a police report next, as your insurer will require that for a theft claim.
After these steps, promptly notify your insurance company. Insurers typically have claims forms for you to fill out. Many companies have the form available online or through their mobile apps. Here, you’ll share information on your damage or loss and whether you need temporary housing. An adjuster may visit to review the damage and loss. Your insurer will then decide what payment will be offered. You can appeal a decision if you feel that you should get more.
Complaints Against Renters Insurance Companies
Complaints collected nationwide against renters insurance companies expose problem areas for some insurers. The National Association of Insurance Commissioners calculates a complaint ratio for each company that reflects the number of complaints in relation to each insurer’s size of business.
Among the companies we analyzed, all have complaint levels that are below the national average.
Methodology
To identify the best renters insurance companies, we evaluated each company based on the following.
Renter insurance rates (60% of score): We scored each company’s renters insurance rates based on national averages for policies with $15,000, $30,000, $50,000, $75,000, $100,000 and $200,000 worth of personal property coverage. Source: Quadrant Information Services.
Complaints (35% of score): We used complaints about home insurance (which includes renters insurance) upheld by state insurance departments. Most home/renters insurance complaints center on claims, including unsatisfactory settlements, delays and handling of the claim. Source: National Association of Insurance Commissioners.
Consumer Sentiment Index (5% of score): The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts and it evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale, including claims process, customer service, coverage options, and pricing and premiums.
Other Insurance Companies to Consider
If you’re unsure of which renters insurance company to choose, see Forbes Advisor’s renters insurance company reviews:
- Allstate
- American Family
- Auto-Owners
- Chubb
- Country Financial
- Erie
- Farmers
- Lemonade
- Nationwide
- Progressive
- State Farm
- Travelers
- USAA
Best Renters Insurance Frequently Asked Questions (FAQs)
Can a landlord require renters insurance?
Some landlords require tenants to purchase renters insurance to avoid potential liability claims from renters due to damaged property from problems such as fire. Theft is another reason, as without renters insurance to cover your losses, you may try to sue the landlord for failing to protect the property.
Landlords who require renters insurance often include a clause in the lease. For example, a lease might state that the renter must provide proof of renters insurance within 14 days of the first day of the lease.
Should I bundle renters and car insurance?
You can often land a discount by bundling auto and renters insurance, and you’ll typically have the convenience of managing both policies from a single account. But bundling renters and car insurance isn’t necessarily the best move.
You might find better prices by purchasing your car insurance and renters insurance from different companies. That’s why it’s a good idea to compare renters and car insurance quotes. And bundling won’t be the best fit if the insurer doesn’t sell the coverage you want. For example, not all auto insurers offer accident forgiveness coverage.
Does renters insurance cover theft?
Renters insurance covers theft of personal belongings both inside and outside your home. A renters insurance will only pay up to your policy limits you have chosen. For example, if you have $20,000 worth of coverage, it will only pay up to that amount. You can buy higher policy limits.
Renters insurance has what are called “special limits” for certain types of items. For example, your policy might only cover $1,000 for stolen jewelry. That won’t cut it for expensive items such as a valuable watch. You can “schedule” valuable items, which provides extra coverage.
Do college students need renters insurance?
Renters insurance for college students can be a wise decision if a college student lives off campus, such as an apartment, and who owns expensive items. If the student lives on campus, such as a dorm, parents’ homeowners insurance will likely cover their personal property.
If your college student lives in a dorm, find out if your home insurance policy has a limit on coverage for personal property in your child’s dorm, such as 10%—which is generally more than sufficient. For example, if you have a $100,000 personal property limit, your child’s belongings in a dorm room will be covered up to $10,000.