Compare Home Renters Insurance Rates

The lowest advertised insurance price is not necessarily the lowest price for your home. Compare written quotes using the same address, coverage limits, deductible and settlement terms.

This guide focuses on renters insurance. Homeowners insure the building as well as other risks, so a renters premium is not a fair benchmark for a homeowner’s policy. See our separate homeowners insurance cost guide.

Which renters insurer is cheapest?

There is no verified universal winner. The table below replaces the old price comparison with published insurer data. The samples and coverage differ, so these figures cannot establish which company would charge you less. A starting-price advertisement is not an average.

Sources: Lemonade’s January 2026 U.S. average and Progressive’s 2025 averages, checked September 26, 2026. These are company-reported figures, not a PropertyNest quote sample.

Request several quotes for identical coverage and compare the full annual amount, including payment fees. A higher deductible or actual-cash-value settlement can make a policy appear cheaper while leaving you with a larger loss.

One quote option to compare

Check the final offered coverage and premium. Placement here does not establish the cheapest or best policy for every renter.

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Use clearly dated cost benchmarks

The table below uses the NAIC Homeowners Insurance Report, Table 5, published in July 2026 with 2023 HO-4 renters data. These are selected Northeast states and the national benchmark, not a list of all states.

PropertyNest data calculation: Monthly equivalents equal each reported annual average divided by 12, rounded to the nearest cent. The observations span different coverage amounts and policyholders. They are historical premiums, not September 2026 quotes or an original PropertyNest quote sample.

Build a comparable quote request

• Use the same property address, occupancy details and policy start date.
• Match belongings coverage and choose the same replacement-cost or actual-cash-value settlement basis.
• Match liability, medical payments, loss-of-use limits, deductibles and endorsements.
• Disclose pets, valuable items, roommates and business property. Ask what is excluded or subject to a special limit.
• Compare annual premiums, installment charges and the total cost of any auto-and-renters bundle.

PropertyNest calculation: An assumed $18 monthly quote costs $216 over 12 months before fees. An otherwise comparable $190 annual quote is $26 less. If the cheaper offer raises the deductible from $250 to $1,000, however, it adds $750 of potential out-of-pocket exposure. Price and protection must be compared together.

The New York DFS renters guide explains core coverage and exclusions. Standard policies generally exclude flood and earthquake damage; specific insurers or endorsements can differ. See our coverage guide before deciding which limits to request.

Companies and agencies to include in your comparison

The following descriptions identify options and questions to ask using the companies’ own published materials. They are not a current price ranking or a claim that PropertyNest tested claims service. Availability and underwriting depend on the address and applicant.

Lemonade

Lemonade offers renters quotes and digital policy services. Compare the actual deductible, valuables limits and exclusions in your quote. Its advertised starting price does not establish what you will pay or prove it is cheaper than other insurers.

State Farm

State Farm offers renters coverage and agent assistance. Ask for the annual renters premium alone and the combined auto-and-renters cost if bundling. Confirm the coverage available at your address rather than treating an advertised maximum saving as your expected result.

USAA

USAA requires eligibility for its property and casualty insurance membership. Have the company verify eligibility; being related to someone who served does not automatically establish it. USAA describes flood coverage as included in its renters policy, an important difference to examine alongside exclusions and limits.

Allstate

Allstate’s New York renters information describes personal property and other coverage options. Ask which settlement basis is included and request the total annual price with your chosen limits. Do not assume a bundled advertised minimum applies to a standalone policy.

Amica Mutual

Amica offers renters insurance with optional coverage choices. Ask which features are standard, which cost extra and whether valuables require separate scheduling. Broad marketing descriptions do not mean every accidental loss is insured.

Liberty Mutual

Liberty Mutual’s New York renters page offers quotes and information about proof of coverage. Review the final limits and deductibles, and ask which optional protections apply to the policy offered to you. A starting-price advertisement is not an average premium.

Progressive

Progressive states that renters coverage is provided and serviced by affiliated and third-party insurers. Identify the company actually issuing your policy. Its single-deductible benefit has eligibility conditions; it should not be assumed to apply to every policy sold through Progressive.

If you move, notify the insurer and obtain confirmation of coverage at the new address. A move can change eligibility, price or the policy required.

Travelers

Travelers describes coverage for qualifying improvements paid for by the tenant, up to 10% of personal property coverage, when damaged by a covered loss. Ask how that provision applies to your actual alterations, and compare the rest of the policy before choosing.

GEICO

GEICO Insurance Agency works with insurance partners for certain products. For a renters quote, check the issuing insurer and the company responsible for claims. Bundling convenience does not mean every renters policy has the same coverage, service process or price.

Before purchasing

Check the issuing insurer’s authorization with your state insurance department, review exclusions and confirm the effective date. Keep a copy of the quote and policy. Give the landlord the required proof of coverage without assuming the landlord becomes an insured under your policy.

Research checked September 26, 2026. Company descriptions use the linked official product pages. NAIC figures retain their 2023 data year. PropertyNest examples use stated hypothetical inputs; no new proprietary quote sample or universal cheapest-insurer claim is presented.