Best Renters Insurance Companies (2025)
Some of the best renters insurance companies include Erie, Allstate, and USAA.
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Many renters might be surprised to learn that their landlord’s insurance doesn’t cover their personal belongings. If you rent an apartment or home, you’ll need to purchase a separate renters insurance policy if you want protection for your things.
Renters insurance, also known as tenant insurance, can protect you and your personal items from a covered loss. For an average of $19 per month for a policy with $30,000 in personal property coverage and $100,000 in personal liability coverage, you gain peace of mind that you and your stuff have the proper protection.
Insurify researched the best renters insurance companies to help you find the best fit for your needs.
Quick Facts
The average cost of renters insurance for $30,000 in property coverage and $100,000 in liability coverage ranges from $5 per month in Alaska to $34 per month in Louisiana.
In most states, a landlord can require renters to have insurance.
Renters insurance typically won’t cover your roommate’s belongings.
5 best renters insurance companies of 2024
If you rent your home and want to make sure you have the proper coverage, it’s important to find the best company for your needs. Luckily, you have many great insurers to choose from.
Check out Insurify’s top five picks for the best renters insurance companies.
Erie: Best for low rates
Allstate: Best for retirees
USAA: Best for military members
Auto-Owners: Best for discounts
State Farm: Best for inflation coverage
To determine the best renters insurance companies, Insurify’s editors compared several factors, including average monthly cost, coverage options, customer reviews, market share, and available discounts.
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What renters insurance covers
While your landlord might have insurance to protect the structure you’re living in, their insurance won’t cover your stuff. Renters coverage typically includes the following types of insurance policies:[?]
What renters insurance doesn’t cover
When selecting a renters insurance policy, make sure you read the fine print to understand which accidents and incidents the policy doesn’t cover.
Certain disasters: Similar to a standard homeowners insurance policy, renters policies won’t cover damage due to flooding or earthquakes. You’ll have to look into additional coverage for these disasters.
Damage to the structure: Rental insurance is meant to cover you and your belongings. It’s generally up to the homeowner to purchase insurance to cover the actual structure of the building.
Your roommate’s stuff: If you have a roommate, your renter’s insurance policy usually won’t cover their belongings. In most cases, they’ll have to purchase their own policy if they want coverage.
Wear and tear: Like home insurance, renters insurance typically won’t cover general wear and tear. For instance, your renters policy wouldn’t cover you if you have a slow leak that goes unfixed and causes water damage.
Average cost of renters insurance by state
The average cost of renters insurance for $30,000 in property coverage and $100,000 in liability coverage ranges from $5 per month in Alaska to $34 per month in Louisiana, Insurify data shows.
The national average for these coverage levels is $19 per month, or $228 per year. Compared to the average homeowners premium of $2,377 per year for $300,000 in dwelling coverage and a $1,000 deductible, this is a small price to pay for peace of mind and safety.
The following table provides the average cost for renters insurance in each state for policies with $30,000 in personal property coverage and $100,000 in personal liability coverage.
State  | Average Monthly Cost |
|---|---|
| Alabama | $18 |
| Alaska | $5 |
| Arizona | $18 |
| Arkansas | $23 |
| California | $19 |
| Colorado | $15 |
| Connecticut | $20 |
| Delaware | $14 |
| Florida | $18 |
| Georgia | $22 |
| Hawaii | $15 |
| Idaho | $15 |
| Illinois | $20 |
| Indiana | $18 |
| Iowa | $12 |
| Kansas | $15 |
| Kentucky | $18 |
| Louisiana | $34 |
| Maine | $15 |
| Maryland | $16 |
| Massachusetts | $19 |
| Michigan | $16 |
| Minnesota | $14 |
| Mississippi | $24 |
| Missouri | $19 |
| Montana | $19 |
| Nebraska | $19 |
| Nevada | $18 |
| New Hampshire | $14 |
| New Jersey | $15 |
| New Mexico | $18 |
| New York | $15 |
| North Carolina | $10 |
| North Dakota | $12 |
| Ohio | $16 |
| Oklahoma | $18 |
| Oregon | $16 |
| Pennsylvania | $12 |
| Rhode Island | $16 |
| South Carolina | $20 |
| South Dakota | $12 |
| Tennessee | $18 |
| Texas | $20 |
| Utah | $15 |
| Vermont | $12 |
| Virginia | $16 |
| Washington | $12 |
| Washington, D.C. | $13 |
| West Virginia | $19 |
| Wisconsin | $11 |
| Wyoming | $18 |
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What to consider when choosing a renters insurance policy
When you’re shopping around for the top renters insurance companies, consider the following factors:
Renters insurance costs: When shopping for insurance, cost is always an important factor. If you’re looking for cheap renters insurance, you’re in luck. The average cost of renters insurance is $19 per month. A number of factors influence your individual rate, like your ZIP code, the age and condition of your rental property, how much coverage you need, and the value of your possessions.
Coverage options: Most standard renters insurance policies offer some combination of personal belonging coverage, personal liability, medical payments, and additional living expenses. You can compare companies and look at their add-on coverage options, which might include valuable items coverage, equipment breakdown coverage, or earthquake insurance.
Ease of filing a claim: If you’re in a situation where you have to file a claim, you want an insurance company that makes the process as quick and easy as possible. You can check out resources like the J.D. Power U.S. Property Claims Satisfaction Study to get a sense of which companies are doing a good job.
Customer reviews: Check third-party review sites to see what current and past customers have to say about the rental insurance company. Look for common complaints or red flags.
Best renters insurance FAQs
If you’re looking for a renters insurance policy, this additional information can help you choose the best policy for your needs.
Is renters insurance worth it?
Only you can decide if renters insurance is worth it for your situation. The average national cost of renters insurance for $30,000 in personal property coverage and $100,000 in liability coverage is $19 per month.
This is a fraction of the average home insurance premium of $198 per month for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
Can a landlord require renters insurance?
Typically, yes. A landlord can require you to have renters insurance to rent their property in most states. While it’s not a legal requirement to have renters insurance, your landlord can include it as a requirement in the rental agreement.
Do college students need renters insurance?
It depends. College students might need renters insurance depending on where they choose to live. College students who live in a dorm might not need renters insurance because they often have coverage through their parents’ homeowners policy. If the college student rents an apartment or house, the landlord will likely require renters insurance.
Does renters insurance cover theft?
Usually, yes. A standard renters insurance policy will typically cover your personal belongings against theft. You can check with your insurance company if your policy has coverage limits for high-value items, such as jewelry. Renters insurance will generally cover up to $1,500 for expensive items.
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