7 Best Renters Insurance Companies in Idaho of 2023

Idaho boasts some of the most spectacular landscapes in the United States and is the 32nd most populous state in the country.

Many of the residents of the Gem State rent their homes, living in apartments or houses in major cities such as Boise and Meridian and small towns such as Ammon or Blackfoot.

While the state of Idaho does not require renters insurance, many landlords in the state do because it provides protection to their tenants.

According to PropertyNest research, the average cost of basic renters insurance in Idaho is about $14.43 a month, lower than the national average of $17 per month.

To help eliminate some of the stress of shopping for renters insurance in Idaho, we have compiled this list of the best renters insurance companies for Idaho renters.

Compare Renters Insurance in ID

The Best Renters Insurance Companies in Idaho

• Farmers – Best for Non-Smokers
• State Farm – Best for Affordable Coverage
• Travelers– Best for Custom Coverage
• Allstate – Best for Idaho Retirees
• Amica – Best for Customer Support
• Nationwide – Best for Online and Mobile Services
• American Family – Best for Idaho Renters With Pets

Farmers: Best for Non-Smokers

For nearly a century, Farmers Insurance has been providing coverage that allows people to protect their homes, whether they rent or own them.

We chose them for our list of the best renters insurance companies in Idaho because they are the only company we found that offers a special discount that allows non-smokers to save on their renters insurance.

We also like Farmers for its highly-rated customer service, which is reflected in their lower-than-average volume of customer complaints.

The average monthly cost of Farmers renters insurance in Idaho is $16, making it slightly higher than the state average; however, you may pay less if you can layer two or more discounts.

State Farm: Best for Affordable Coverage

State Farm has been providing insurance since 1922 and today is one of the largest insurance companies in the country.

The reason we selected State Farm as one of the best renters insurance companies in Idaho is that they offer the most affordable rates.

State Farm also has a reputation for excellent customer service, something that ties to their “Like a good neighbor, State Farm is there” ads.

State Farm’s average monthly premium in Idaho is only $10 per month, putting it well below the state and national averages.

Read a full State Farm renters insurance review.

Travelers Insurance: Best for Custom Coverage

Travelers Insurance is one of the best-known insurance carriers in the US and has a long history of providing affordable coverage to consumers.

We selected them for our Idaho list because they offer renters the widest range of riders to customize coverage to suit their specific needs.

We also appreciate Travelers’ well-designed and useful website, which has helpful resources for renters, and its user-friendly mobile app.

The average cost of Travelers renters insurance in Idaho is $15 per month, which matches the national average and is slightly higher than the state average.

Allstate: Best for Idaho Retirees

Allstate is one of the oldest and largest insurance companies in the US and has earned a spot in the Fortune 500.

We selected Allstate for our list because they offer a unique discount to lower the price of renters insurance for retirees.

We also like Allstate’s excellent mobile app, which is free, and the fact that they offer flood insurance to renters, something most companies don’t do.

The average cost of Idaho renters insurance with Allstate is $15 a month, a little higher than the state average.

Read a full Allstate renters insurance review.

Amica: Best for Customer Support

Amica is the oldest insurance company on our list, and has provided insurance for over 115 years to protect consumers.

We chose Amica for our list because they offer the broadest array of customer support options, making it easy to get the help you need in the format you prefer.

We also appreciate Amica’s large menu of available riders to customize a coverage and that they do not place an upper limit on renters insurance policies.

Amica’s average cost of basic renters insurance is $16.35 per month, putting it a little higher than the state average.

Read a full Amica renters insurance review.

Nationwide: Best for Online and Mobile Services

Nationwide started providing insurance in Ohio back in 1926 and now is licensed in all 50 states.

The reason we chose Nationwide for this list is that they offer the best and most seamless online and mobile experience to policyholders.

In addition to their stellar service, Nationwide offers an impressive range of riders and endorsements to help Idaho renters personalize their coverage.

The average monthly cost of Idaho renters insurance with Nationwide is $10 per month, matching the lowest price on our list.

American Family: Best for Idaho Renters With Pets

American Family Insurance is a regional insurance carrier offering policyholders protection in 19 states, including Idaho.

We chose American Family for this list because it’s the only company that offers a renters insurance rider to protect pets by reimbursing pet owners for a portion of pet-related expenses.

We also like American Family for its many discounts, including a generous generational discount.

The average monthly cost of Idaho renters insurance with American Family is $12 per month, less than the state average.

Is Renters Insurance Mandatory to Rent an Apartment in Idaho?

In Idaho, renters insurance is not mandatory by law to rent an apartment.

However, some landlords may require that their tenants carry renters insurance before they move in, so it’s important to check with the property owner or real estate agent before signing any leases.

Even if you don’t legally have to purchase renters insurance in Idaho, having an extra layer of protection can save you thousands of dollars in potential damages if something unexpected happens.

What is the Average Cost of Renters Insurance in Idaho?

The average cost of basic renters insurance in Idaho is around $14.43 per month, or $173.14 a year.

However, this can vary depending on your coverage limits and other factors, such as the size of the rental property, location, and any discounts you may be eligible for.

For example, if you live in a high-risk area, you may be required to purchase more coverage or pay higher premiums.

It’s important to shop around and compare prices from different providers to get the best deal on your renters insurance policy.

Why is Renters Insurance Necessary?

Are you wondering whether you need to spend money to buy renters insurance to protect yourself?

Here are some reasons we believe every renter should have renters insurance.

1. Your landlord’s property insurance covers their property but does not cover yours.
2. Most people don’t have enough money saved to pay to replace their belongings if they are destroyed.
3. The cost of renters insurance is significantly less than what you would pay to replace your belongings.
4. Renters insurance provides protection for your personal liability if someone’s injured in your rental.
5. Renters insurance will give you peace of mind if your belongings are damaged or destroyed in a covered event.
6. You’ll be covered even if your belongings aren’t in your rental.
7. Adding extra coverage for high-value items, including artwork, jewelry, and electronics is easy.

In return for the cost of a large pizza each month, you’ll get the coverage you need to replace your personal belongings, shield you from personal liability, and pay temporary living expenses if your rental becomes uninhabitable.

What Factors Affect the Rates of Renters Insurance?

We’ve provided you with average costs, but you should know that multiple factors will impact how much you pay for renters insurance.

Policy and Coverage Limits

You’ll need to choose how much coverage to include in your policy based on the value of your belongings; opting for a high coverage limit will increase your costs.

Deductible

Deductible options impact costs, with high deductible policies typically costing less than low deductible policies.

Location

The area where you live may affect your costs; as a rule, people in high-crime areas should expect to pay more than those in low-crime areas.

Additional Coverage

Every company on our list affords policyholders the option to customize coverage; if you choose replacement coverage or schedule high-value items, you should expect to pay more than the state average.

What Is Covered by Renters Insurance?

Before you purchase renters insurance, you should know what is covered and what isn’t covered by a standard renters insurance policy.

Here’s what you should expect to be covered.

• Damage to your personal belongings. If your covered belongings are damaged, destroyed, or stolen, your renters insurance will cover the loss based on your policy limit and coverage.
• Personal liability. If a guest in your rental is injured or their property is damaged or destroyed, your liability will be covered up to the limit.
• Guest medical. If a guest incurs medical expenses after an accident in your rental, some of their expenses will be reimbursed under your policy.
• Additional living expenses. If your rental should sustain damage to the point that it becomes uninhabitable, your renters insurance policy will pay for you to live elsewhere while the damage is repaired.

Here are some things that are not covered by renters insurance.

• Damage from non-covered events. Property damage that’s caused by something that’s not covered, such as a flood, will not be paid for by your policy.
• Damage above your policy limit. Your policy will pay you the cash value or replacement value of your belongings up to your policy limit; if your loss exceeds the limit, you will not be paid for the amount that’s over the limit.
• Loss or damage of unscheduled valuables. Your renters insurance policy will cover high-value items only if you schedule them separately at a cost; unscheduled valuables will not be replaced.

How To Choose the Best Renters Insurance

When choosing a renters insurance policy, you must consider your budget and what kind of coverage you're looking for.

Some policies offer more comprehensive coverage than others, so it's essential to do some research.

Additionally, make sure you understand any exclusions or limitations on the policy and how much of your deductible is payable in case of a claim.

Lastly, don’t forget to check with the insurance company if you have any specific questions or concerns regarding their policy. That way, you can be sure that you are getting the best coverage at a price that meets your budget.

Determine How Much Renters Insurance Coverage Do You Need?

If you’re wondering how much renters insurance coverage you need, there’s an easy way to estimate it: by taking inventory of your belongings, including the following items.

• Clothing
• Furniture
• Electronics
• Jewelry
• Books
• Small appliances & kitchen items
• Home decor items

We suggest taking pictures to document your belongings and keeping receipts organized and safely so you can refer to them as needed.

You’ll get the most protection if you choose replacement coverage, which will provide you with the money you need to buy new belongings to replace destroyed items.

Choose Which Policy You Need Replacement Cost or an Actual Cash Value Policy

Replacement cost policies generally pay out more, as they reimburse you for the amount it would cost to replace an item at today’s prices. Actual cash value policies base their compensation on the depreciated value of a damaged or destroyed items.

Once you’ve figured out how much coverage you need, consider additional coverages like liability insurance, which can help protect you if someone files a lawsuit against you related to your rental property.

Choose a Renters Insurance Company That Offers the Coverage You Need

Once you’ve figured out what coverage you need, it’s time to begin shopping around. Look for a renters insurance company with competitive rates and good customer service. Don’t forget to read up on any additional discounts they may be offering as well.

Choose a Renters Policy

Choose a policy that reflects your individual needs; don’t be afraid to ask questions if you’re unsure of any terminology or coverage features.

Finally, make sure that the company you choose is reliable and has a good reputation. Read the fine print of the policy and check to make sure your company is licensed to do business in your state.

Check out online customer reviews and research the company’s financial stability before signing on the contract.

With the right renters insurance plan, you’ll have peace of mind knowing that you and your property are covered in case of any unexpected events.

Synopsis

PropertyNest recommends renters insurance for anyone who rents an apartment or home in Idaho.

Remember, your landlord’s property insurance protects their property but will not protect yours.

Renters in Idaho who live near the water may want to consider buying a separate flood insurance policy to protect them.

Before you buy renters insurance, we recommend getting at least three quotes from three different companies to compare coverages and costs and asking about discounts.

Methodology

We thoroughly researched the state's top renters’ insurance companies and narrowed the list down to those operated in Idaho.

We rated them on criteria that included ease of use, ratings, financial strength, customer, and affordability. Read our full in-depth renters insurance methodology.

How We Chose the Best Renters Insurance Companies in Idaho

We considered many companies for our list of the best renters insurance in Idaho using the following criteria to choose those that made the grade.

Discounts

We looked for insurance carriers that provided at least two discounts on renters insurance, with a preference for those with discounts that could apply to most Idaho renters.

We recognize that cost is a primary concern for many renters, so discounts are necessary to control costs.

Cost

It’s our mission to help people choose the best insurance for their needs, so we made cost one of the factors we considered.

We prioritized companies that offer affordable coverage for renters in Idaho, regardless of their income level.

Coverage Options

Each Idaho renter is unique, which is why we searched for insurance companies with an array of policy and coverage options.

The companies on our list offer renters ways to personalize their coverage with a choice of deductibles, limits, and policy riders.

Customer Support

Idaho renters deserve a smooth and seamless experience with any insurance they buy, whether they’re comparing coverage, asking a question, or filing a claim after a covered event.

We chose companies that provide quality customer support and excellent communication with policyholders.

Technology

Many of today’s renters prefer buying coverage and filing claims online, so we prioritized companies who use technology effectively to the benefit of policyholders.

In terms of specifics, that means that we picked companies with customer portals, online resources, and well-designed mobile apps.