10 Best Cheap Renters Insurance Companies of 2023

It may be tempting to skip getting renters insurance as a renter, but it's important to remember that your landlord is not responsible for any damage or loss to your belongings. Renters insurance can protect you in various situations, such as theft, damage, or flood. Choosing the right renters insurance requires some research and understanding of your needs.
To help with this, the PropertyNest team has analyzed customer service, affordability, and accessibility of renters insurance companies in all 50 states.
According to PropertyNest national survey, the average monthly cost of basic renters insurance is $17 or $206 a year.
Consider our recommendations if you're looking for the best and cheapest renters insurance.
The Best Renters Insurance Companies
After conducting an in-depth analysis, we have pinpointed the best renters insurance companies in this field and highlighted a distinctive attribute for each to aid you in your search for an ideal match.
Insurance Company | Average Monthly Rate | Average Yearly Rate | Best For |
---|---|---|---|
Lemonade | $9.57 | $114.84 | Best for Cheapest Rates |
State Farm | $10.83 | $129.96 | Best Customer Service |
USAA | $13.70 | $164.40 | Best for Military Members and Veterans |
Allstate | $15.17 | $182.04 | Best for Policy Bundles |
Amica Mutual | $16.35 | $196.20 | Best for Future Homeowners |
Liberty Mutual | $16.38 | $196.56 | Best For Discounts |
Progressive | $21.01 | $252.12 | Best for Accessibility |
Travelers | $22.14 | $265.68 | Best for Home Repair Coverage |
GEICO | $29.37 | $352.44 | Best Policy for Earthquake Coverage |
Lemonade: Best for Cheapest Rates

Lemonade is one of the newer insurance companies that relies solely on technology. Using technology versus live agents helps Lemonade cut costs while providing plenty of customer service.
Simplistically speaking, Lemonade relies on data, property records, and other demographic information and statistics to assess the value and cost of damages and your premium alongside any information you provide them.
However, being a technology-centric company comes with its perks, such as the speed of getting a quote, setting up an account, making any changes to a policy, filing claims, and claims turnaround, which can be done entirely online or through their app.
Lemonade offers several plans to suit your needs and budget, starting with the basics for $5 per month. However, an additional fee can be applied if you want more features.
Lemonade is great for those looking for a tech-savvy app for immediate access to your policies, discounts, claims, and more.
This may be a desirable option for a renter who doesn't want to spend too much time thinking about personal property itemization and speaking to an agent.
It is not ideal, however, for someone who would rather speak directly to an agent.
Lemonade Renters Insurance Coverage
Lemonade renters insurance policy has several types of basic coverage. This includes lightning, hail, vehicles, fires, and more.
Loss of use coverage will help if your home is temporarily unavailable due to specific damages. If you cannot live in your home, Lemonade will pay for temporary living arrangements until your home is livable again.
Personal property coverage protects your belongings in case of a fire, etc. If. If your items were to be ruined, Lemonade will pay you at the depreciated value for the item and give you actual cash.
Portable electronics coverage protects your jewelry, electronics, and other expensive valuables.
- Loss of Use Coverage
- Personal Property Coverage
- Portable electronics coverage
Lemonade Renters Insurance Discounts
While not many discounts are available, the two discounts that Lemonade provides are pretty easy to attain.
Installation of a home protection device, sprinkler system, fire alarms, etc.
PropertyNest Rating | 4.5 out of 5 |
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J.D. Power (out of 1,000) Score | 853 |
BBB Rating | B+ |
NAIC Complaint Index Score | 1.94 |
Allstate: Best for Policy Bundles

Allstate is well-known in the insurance industry, especially regarding bundling policies. You get a great selection of basic policies and the option to purchase additional coverage if needed. You also receive great discounts for bundling your policies, helping you save more in the long run.
Allstate insurance starts at $4 monthly when you bundle renters with car insurance. When you add the cost of your auto to this package, it will be well worth protecting both properties with one company.
Allstate has a claims center that is always open, and they also have customer service representatives available to help with policy questions and other concerns.
Additionally, while Allstate may be more expensive than other insurance companies, bundling policies for discounts can offset the cost.
Read a full Allstate renters insurance review.
PropertyNest Rating | 5 out of 5 |
---|---|
J.D. Power (out of 1,000) Score | 837 |
A.M. Best - Financial Strength Rating | A+ |
NAIC Complaint Index Score | 2.05 |
BBB Rating | A- |
Liberty Mutual: Best For Discounts

While plenty of discounts are offered for homeowners and car insurance, renters insurance is usually overlooked when it comes to discounts.
Liberty Mutual is perfect for those looking to save money through their many opportunities for discounts. However, the extent of the discounts and the eligibility criteria vary depending on the state and the policyholder's circumstances.
Their standard renters insurance policies are straightforward and can stand independently without adding customizable options.
Liberty Mutual has been in the insurance industry for over 100 years and for a good reason.
They are known for their great discounts, but their policies are not the most affordable.
Read a full Liberty Mutual home insurance review.
PropertyNest Rating | 4.5 out of 5 |
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J.D. Power (out of 1,000) Score | 834 |
A.M. Best - Financial Strength Rating | A |
BBB Rating | A+ |
NAIC Complaint Index Score | 2.37 |
State Farm: Best Customer Service

The best national overall company should be affordable, reliable, and easily accessible. State Farm is available in all 50 states and is well known for its customer service. Founded in 1922, State Farm sells around 100 various types of insurance, including renters insurance.
Since State Farm is so widely available, your chance of speaking with a local representative is very high. Having a local rep is helpful since they should be aware of any specific rules for your location.
State Farm’s basic policy covers personal property, medical payments, and other living expenses. If extra coverage is needed, you can add options such as identity theft and pet medical insurance.
State Farm doesn't just excel in providing customers with a human touch but offers quality coverage.
Although State Farm is one of our top picks for renters insurance, it still has pros and cons, just like any other company. While State Farm provides various add-on options, it does not provide round-the-clock customer service if something goes wrong.
Read a full State Farm renters insurance review.
PropertyNest Rating | 5 out of 5 |
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J.D. Power (out of 1,000) Score | 836 |
A.M. Best - Financial Strength Rating | A++ |
BBB Rating | A+ |
NAIC Complaint Index Score | 1.77 |
USAA: Best for Military Members and Veterans

USAA was created in 1922 and now has over 12 million members and offers services such as insurance coverage, planning for retirement, loans, and more. However, it's worth noting that USAA is a membership-based organization; not everyone is eligible to become a member.
For those in the military, veterans, or immediate families of the person in service, you may qualify for insurance with USAA.
USAA has one of the best reputations as a financial institution, known for its amazing customer service, rates, loans, and other financial products. They are consistently highly rated by customers in most financial categories.
The major con is that not everyone is eligible for coverage as their services are solely available to active-duty and retired military personnel and their families. On the plus side, limited access means that customers receive more attention.
J.D. Power (out of 1,000) | 886 |
---|---|
A.M. Best - Financial Strength Rating | A++ |
BBB | A+ |
NAIC Complaint Index | 0.88 |
Progressive: Best for Accessibility

Progressive has been around since 1937 and is one of the major insurance carriers for vehicular and property coverage.
We chose Progressive as one of the top renters insurance companies because not only is renters coverage available in all 50 states, but Progressive has one of the best ways to contact the company regarding questions, issues, or claims. Customers can contact Progressive via phone, email, online chat, app, and social media. Progressive also has a low NAIC customer complaint index rating.
There's also a healthy number of discounts to help lower your premium with Progressive. They offer a unique benefit for renters who choose to bundle with their auto that helps reduce the out-of-pocket expense for deductibles they call the Single Deducible Benefit.
Progressive does have somewhat higher premiums than average, but their renters insurance policy is very well-rounded, and you may be able to offset some of the cost with their discounts. Premiums may vary depending on factors such as location and coverage options.
PropertyNest Rating | 4 out of 5 |
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A.M. Best - Financial Strength Rating | A+ |
NAIC Complaint Index Score | 1.66 |
Travelers: Best For Home Improvement Repairs Coverage

Travelers is a well-trusted insurance company that offers many different types of policies.
Some renters invest in their rental units by making improvements (of course, with permission from their landlord) and making their homes more comfortable and habitable.
If you've made your repairs or improvements, Travelers can help you by providing coverage for those repairs or improvements.
They allow policyholders to allocate up to 10% of their personal property coverage to home improvement replacement coverage--making Travelers one of the few insurance carriers that do.
Travelers is a great option for a renter who is very hands-on as well as handy.
Read a full Travelers renters insurance review.
PropertyNest Rating | 4 out of 5 |
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J.D. Power (out of 1,000) Score | 801 |
A.M. Best - Financial Strength Rating | A++ |
BBB Rating | A |
NAIC Complaint Index Score | 3.88 |
Amica Mutual: Best for Future Homeowners

Amica Mutual Insurance Company is a major insurance player that serves the contingent states of the U.S., although they may not push a large online or television marketing campaign.
Unbeknownst to many, this company has been around for over a hundred years and has been solid financially during that period. They're also ranked as one of the best in customer service.
However, we've selected Amica Mutual as one of the best national renters insurance specifically for their special renters package Renters Essentials.
It bundles their standard renters coverage plus extras like identity theft protection and a unique program that helps future homeowners save big on homeowners insurance they may need in the future.
Amica Renters Essentials helps you save up equity for insurance while saving to buy that home. Every year, you have your renters policy with Amica, and you can earn $100 ($500 total limit).
Once you're ready to buy a home, you can potentially have $100 per year towards your homeowners insurance premiums.
Read a full Amica renters insurance review.
J.D. Power (out of 1,000) | 854 |
---|---|
A.M. Best - Financial Strength Rating | A+ |
BBB | A+ |
NAIC Complaint Index | 0.32 |
Nationwide: Best for Fraud Protection

Nationwide is one of the best-known and most reputable insurance companies in the country, and customers can rest assured of their financial health and stability.
Nationwide provides various options to help you customize your dream policy.
With Nationwide, their claims center is open 24/7; however, you can only speak with a customer service representative during limited hours, one of the features that Nationwide is known for, even though online services are also available.
They stand out because credit card and fraud protection come standard with basic coverage. Not only will you be covered if someone uses your credit card illegally, but this protection also applies to fraud such as forged checks, etc.
This policy is best for someone with fraud and identity theft issues or looking for extra financial protection.
Knowing they don't have to be on the financial hook for such losses can give them peace of mind.
Read a full Nationwide renters insurance review.
PropertyNest Rating | 4 out of 5 |
J.D. Power (out of 1,000) Score | 859 |
A.M. Best - Financial Strength Rating | A+ |
BBB Rating | A+ |
NAIC Complaint Index Score | 0.04 (Very Low) |
Company | PropertyNest Rating | J.D. Power (out of 1,000) | A.M Best Rating | BBB Rating |
---|---|---|---|---|
Lemonade | 5.0 | 853 | Not Rated | B+ |
Allstate | 5.0 | 837 | A+ | A- |
Liberty Mutual | 4.5 | 834 | A | A+ |
State Farm | 4.5 | 836 | A++ | A+ |
USAA | 4.5 | 886 | A++ | A+ |
Erie Insurance | 4.5 | 851* | A+ | A+ |
Travelers | 4.0 | 801 | A++ | A |
Amica | 4.0 | 854* | A+ | A+ |
Nationwide | 4.0 | 859 | A+ | A+ |
Jetty | 4.0 | Not Rated | A | A+ |
Toggle: Best For Unique Endorsements

- Available in 29 states
- Quote access: Online only
Toggle, a brand under Farmers Insurance, is a young, user-friendly insurance provider currently offering renters and auto insurance in select states. Toggle's easy-to-use and transparent website makes it stand out, where you can receive a quote in seconds and quickly customize it to your specific needs using virtual toggles.
While Toggle is not the lowest-cost insurer, you can select from three tiers, which are basic, standard, and premium. Basic is just liability coverage and is very inexpensive. You can, however, easily customize each tier to your needs by adjusting the amount of coverage for personal property, your deductible, and your liability coverage. Personal property is broken down into separate categories to customize your coverage further.
Toggle does offer standout endorsements or add-ons to your main policy, namely pet protection and side hustle coverage. Their pet coverage is unique because it doesn't just cover liability but also some damage, pet boarding, and even some veterinary costs—most renters insurance coverage for pets, whether standard or endorsement, usually covers liability. Side HustleⓇ is a unique offering that covers equipment and liability related to your side business or gigs that bring in $25,000 or less per year.
A.M. Best Financial Strength Rating | A |
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NAIC Complaint Index | 0.00 |
Is Renters Insurance Mandatory to Rent an Apartment by Law?
There is no federal law that requires tenants to carry renters insurance.
However, some landlords may require proof of renters insurance as part of the lease agreement.
What is the Average Cost of Renters Insurance?
The best renters insurance companies combine many coverage options and dependable customer service.
They also should have affordable policies.
The national average cost of renters insurance for American families in the U.S. is $17 per month or $206 per year.

Company | National Monthly Average Sample Rate |
---|---|
Lemonade | $9.57 |
State Farm | $10.83 |
USAA | $13.70 |
Allstate | $15.17 |
Amica Mutual | $16.35 |
Liberty Mutual | $16.38 |
Progressive | $21.01 |
Travelers | $22.14 |
GEICO | $29.37 |
What Factors Determine Renters Insurance Premiums?
The premium you pay differs from that of another policyholder. Each person will get a different quote due to certain factors.
Besides living in a city with a high crime rate susceptible to many natural disasters, the additional factors determining your premium are as follows.
Credit Score
Your credit score can negatively impact your premium.
People who have a high credit score generally pay less.
And those with poor credit scores will pay more.
That’s because the insurer believes those with good credit are statistically more likely to pay their monthly premium on time.
Whether You Choose an Actual Cash Value or a Replacement Cost Value Plan
With ACV, insurers pay only for the depreciated value of your items if they are stolen or damaged.
With RCV, insurers pay the total cost of your items at today’s prices.
For example, if your laptop is four years old and gets destroyed, damaged, or stolen, you’ll be reimbursed for the total cost using today’s prices.
RCV will raise your rate, which often doesn’t come standard in a basic policy.
Claims History
If you've ever filed a claim on any of your insurance policies, you are considered a risk and will thus have your premium raised.
Amount of Coverage
Your standard renters policy probably won't provide enough coverage to replace all your items, especially those high in cost like jewelry.
So, you will probably need to buy extra coverage through an endorsement to pay them in full if a covered peril damages or destroys them.
Adding coverage to a basic policy will increase your rate. However, taking on the extra costs for enhanced or more comprehensive protection could be worth it.
Since renters insurance isn't mandatory, you can customize your policy according to your needs.
The Size of Your Building or Unit
Insurers usually pay lower premiums to people living in large buildings with many units.
And they often will give you a higher premium if you live in a smaller building with only a few units.
Overall, apartments are less expensive to insure than full houses. Apartments are typically smaller and outfitted with smoke alarms, sprinkler systems, and carbon monoxide detectors.
The limited outdoor space means insurance companies don’t need to insure you for outdoor accidents like slips and falls.
On-site management will also decrease your premium.
Building Construction
If you rent a house, apartment, or condo made of brick or masonry, insurers will charge you less than they would if your rental was constructed using a less stable or less solid material.
Sturdier material is less affected by earthquakes, fires, and other covered perils.
Fire Prevention
If you install fire detection and prevention devices and purchase multiple fire extinguishers, your rental will be considered safe, and your rate will be lowered.
Security Measures
If your apartment or condo is on a high floor, has doormen or front-desk security or security cameras in the lobby, and is located in a gated community, your insurer will reduce your premium.
That’s because it’s perceived that you will be less likely to claim due to theft or burglary.
Deductible
Your deductible will also affect your premium. The more you’re willing to cover before your insurance kicks in, the less expensive your premium will be.
How to Get the Cheapest Renters Insurance
The easiest way to get affordable renters insurance is to get quotes from as many insurers as possible.
Then, compare the quotes from different companies.
Usually, the best insurers allow you to get an instant quote on the insurer’s website.
But if you can’t and need to complete your application by speaking to a live agent, this takes longer than going online.
The less convenient it is to get a quote, the more you’ll turn to other insurers with a good online presence.
Customer Service
The insurance company you pick should be partly based on how easy it is to reach the company’s agent and your experience with one of the agents.
An insurer’s rep or agent should be available 24/7, or at least 24/7, for claims processing.
Thus, you should check how convenient it is to reach customer service, especially when rushing to make a claim.
If you can reach an agent in several ways, you have both choice and convenience.
For example, if you can speak to an agent via phone, text, chat, or online, that’s an insurer you may want to work with.
For example, Farmers offer all these ways to connect to an agent. You should thus get a quote from the company.
In addition to availability, you should feel comfortable when speaking to a rep. That means, for example, you should be able to ask as many questions about a policy as you want, and the agent will be professional enough to take the time to answer all of them smoothly and compassionately.
Discounts
All renters insurance companies offer discounts that can lower the cost of your premium. Here are the most popular discounts you can get:
- Multi-Policy: Bundling renters and auto insurance with the same company will get you a discount.
- Being Claims-Free: If you don’t claim in a period determined by your insurer, you’ll receive a discount.
- Paperless: If you go paper-free and choose to receive information about your policy electronically, you’ll also get a discount.
- Payment: You'll get a discount if you sign up for autopay using your checking account.
Should You Bundle Renters & Car Insurance?
Bundling renters and auto insurance with the same company can save you money. When you bundle, you’ll get a single bill for both policies that could result in discounts of up to 25%.
It's important to compare rates before deciding whether to bundle, as some companies may offer better pricing regarding individual policies. Some renters insurance policies also include additional coverage that may benefit you and your situation.
Before making a decision, it’s important to read the policy details carefully and calculate the total cost of coverage in both scenarios. Over time, bundling could save you hundreds of dollars on premiums.
What Does Renters Insurance Cover?
Renters insurance typically covers the cost of damage to personal property, such as furniture, clothing, electronics, and appliances. It also provides liability protection if visitors are injured in your home or you’re responsible for damaging someone else’s property.
In addition, renters insurance may reimburse additional living expenses if your rental becomes uninhabitable due to a covered loss.
Considering the amount of personal items and liabilities that come with renting, renters insurance is an important investment.
Be sure to review the specifics of your policy to ensure you know exactly what’s covered in case of any potential losses or damages.
Liability Coverage | Liability protects you against lawsuits from someone who has bodily injuries or property damages that you or your family caused to them. Liability also covers your legal defense. |
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Personal Property Coverage | Personal property coverage pays to replace property that’s stolen or damaged due to a covered peril. A covered peril in a standard policy is theft, burglary, and vandalism, as well as climate changes like lightning, windstorms, hurricanes, explosions, water damage, and other events listed in your policy. |
Loss of Use | This policy covers basic living expenses and temporary housing costs if your unit becomes uninhabitable due to a covered peril like a fire. |
Medical Payments | This policy pays for medical care if there is bodily injury to a person that occurs in your rental unit, regardless of fault. |
Type | Items | Coverage |
---|---|---|
Cash or Other Forms of Currency | Bank notes, bullions, gold or silver (non-jewelry), coins, medals, smart cards, stored value cards. | Most renters insurance policies will only cover up to $200 in stolen cash. |
Electronic Equipment | Phones (iPhones, Androids, etc.), computers, laptops, iPads, earbuds, smart watches, TV sets, gaming systems, Alexa or Google home devices, etc. | Standard renters insurance policies cover the loss or damage of electronic devices. |
Clothing | Designer purse/handbags, shoes, jewelry, designer watches | Standard renters policies cover your personal clothing or designer handbags etc. |
Power Tools | Drills & drivers, saws. | Covered under the personal property coverage. |
Kitchen appliances | Refrigerators, microwaves, blenders, electric mixers, ice makers, coffee machines, and other appliances. | Renters insurance covers personal appliances if they are damaged, stolen, or destroyed by a covered peril. |
Prescription drugs | Will not cover stolen prescription drugs. | |
Personal information | Bank accounts, identity information stolen from documents, or stolen personal equipment. | Most companies do not include identity theft as a covered peril in a standard renters insurance policy. |
Firearms | Pistols, rifles | Legal firearms are covered under personal property coverage. |
Read more: What Does Renters Insurance Cover?
What Natural Disasters are Covered in a Renters Policy?
Tornadoes, fires, hail, storms, heavy rain, and snow are covered perils.
However, because natural disasters impact your premium, you won’t pay less than $20 monthly. That rate doesn’t include flood insurance, which tends to be expensive to purchase.
What are Natural Disasters Not Covered in a Renters Policy?
Like homeowner’s insurance, the basic renters policy does not include flood coverage or earth movements such as earthquakes and sinkholes.
Flood Coverage
Most renters policies do not cover flooding. You must purchase a separate flood insurance policy to cover this peril. It’s essential to remember that flood insurance usually has a waiting period of 30 days before it goes into effect.
This means you won't be covered if flooding occurs during the first month after you purchase your policy. Before signing any agreement, read all the fine print and ask questions about flood coverage.
Does Renters Insurance Cover Water Damage?
In some cases, renters insurance does provide coverage for water damage caused by a leaking pipe or appliance.
However, it’s important to note that this coverage is usually only provided if the cause of the water damage is sudden and accidental. This means your renter’s insurance policy does not cover any damage caused by prolonged leaks or floods.
It’s also important to be aware of the limitations of your renters insurance coverage when it comes to water damage. For example, many policies have maximum limits for water damage claims and may not cover all damaged property. Additionally, some policies exclude certain types of water damage from being covered at all.
Does Renters Insurance Cover Wildfire Damage?
Renter’s insurance typically does not cover damage caused by wildfires. Wildfires are generally classified as “catastrophic events”, meaning that they are outside of the scope of most standard renter’s insurance policies.
However, some individual insurers may offer additional coverage for wildfire damage if requested.
How Much Insurance Do You Need?
If you don’t have many things to insure and believe you don’t need the added expense of a renters policy, look around your rental and do a personal inventory that includes itemizing each possession and ascertaining its price.
You can use the internet to research the cost of each item if you can’t recall it. Once you factor in the price, the total is how much insurance you would need if you had to replace everything after a fire or a burglary.
The things you use the most are not considered because you don’t think they are valuable.
But they most likely are, as all the following that you use daily counts: your sofa or other pieces of furniture, your laptop, and your smart TV, for example.
They don’t have to be high-cost jewelry or musical instruments or designer bags and clothing, although these, too, are covered by renters insurance.
The one thing you need to beware of is that if you have these expensive items, you will most likely have to buy additional coverage for them in the form of add-ons because the basic renters insurance only covers up to the policy’s limit.
The standard limit for personal property coverage in a basic renters insurance policy is usually $30,000 per claim.
So, if your diamond necklace is appraised at $35,000, you must pay the extra $5,000 if the jewelry is stolen or damaged.
Any damaged or stolen belongings that exceed your personal property limit will not be covered, leaving you to pay the difference for replacements.
But consider the coverage amount allowances. If a renters insurer puts a cap on how much additional coverage you may want to buy, maybe that’s not the company you want to go with.
And if a rental insurer has no personal property limit, you can add as much coverage as you desire; that’s a company worth looking into.
So, you’ll want to increase your personal property limit so it’s close to or greater than the value of your belongings.
Or, to make sure that your jewelry is insured to its total value, you can add a rider or endorsement to your policy that comes with an additional expense.
A rider or endorsement adds more benefits to your basic renters insurance policy.
Compare the Best Renters Insurance Companies in Your State
We've made our recommendations above based on insurers that are widely available throughout the country. But we found some of the best and cheapest home renters were locally-based companies.
Frequently Asked Questions
Our Methodology
We thoroughly researched the state's top renters’ insurance companies and narrowed the list down to those that operated in the U.S. We rated them on criteria that included ease of use, ratings, financial strength, customer, affordability, and more. Please read our full, in-depth renters insurance methodology.
How We Picked the Best Renters Insurance Companies
We examined several factors to determine the best renters insurance company in the U.S.
Discounts
Discounts help to make renters insurance affordable.
So if you found an insurer that best suits your needs but has a high premium, you should look into how many discounts the insurer offers.
Chances are, if you qualify for many discounts, a high premium will be more favorable in terms of cost.
Coverage
Every renter has different insurance coverage needs. So, when evaluating insurers, we looked for companies with a wide range of useful coverage options.
Technology
We only considered an insurer if it had a useful and easy-to-use website and mobile app where you could do several things—get a policy online, file a claim online, pay your bills on a mobile app, and much more.
The most important thing we looked at is whether a company allowed you to get a quote on its website instantly and then purchase a policy in a short time, such as ten to fifteen minutes. Doing so makes getting insured easy.
If a company allowed you to get a quote online but made you speak to an agent to finalize it, then the process is time-consuming, and we tried to avoid such an insurer.
Customer Complaints
We reviewed published consumer ratings and reviews of renters insurance providers.
We spent a good amount of time looking at verified third-party reviews.
Insurers with many quality consumer ratings and reviews were included in our list.
For example, we looked at A.M. Best to determine an insurer's financial strength, the NAIC to see how many complaints an insurer received, and JD Power’s customer satisfaction score to determine how well-received an insurer is.
Price
Insurance providers with low premiums or plenty of options to lower your premium (such as discounts) ranked higher on our list than others.
In particular, we favored Allstate, State Farm, and Lemonade because all three had policies lower than the average renters insurance rate.