Best and Cheapest Renters Insurance in Aurora, CO (2024)

The best and cheapest renters insurance company in Aurora, Colorado is Auto-Owners, with a MoneyGeek score of 92 and an annual premium of $58. Depending on your needs, other providers may be best.

Chubb offers excellent service quality with an annual premium of $132. MoneyGeek also looked into the best and cheapest renters insurance in Colorado for those who live elsewhere in the state.

The following companies provide the best renters insurance in Aurora, Colorado, for policies with $20,000 in personal property coverage, $100,000 in personal liability coverage and a $1,000 deductible:

• Auto-Owners: MoneyGeek score of 92 out of 100 ($58 per year)
• State Farm: MoneyGeek score of 90 out of 100 ($67 per year)

The best providers offer a balance of cost and quality service. Allstate has achieved this balance, earning a perfect affordability score and a customer satisfaction score of 22 out of 30.

In Aurora, Colorado, Auto-Owners offers the cheapest renters insurance with an annual premium of $58 for $20,000 in personal property coverage. The two cheapest providers are:a

• Auto-Owners: $58 per year
• State Farm: $67 per year

MoneyGeek rated the cheapest renters insurance in Aurora with minimal consideration for customer service.

Personal property coverage helps protect your belongings in case of theft, fire, or other covered events. Cheap renters insurance policies often come with low personal property coverage limits. While higher personal property coverage limits can increase your monthly costs, they offer better protection if you have many belongings.

In Aurora, Colorado, Auto-Owners offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $56. The following providers are the top two cheapest providers in Aurora for $20,000 in personal property coverage and a $2,000 deductible:

• Auto-Owners: $56 per year
• State Farm: $66 per year

A deductible is the amount you pay out-of-pocket before your insurance coverage kicks in, and it can affect rates. A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums.

It's important to balance both to ensure you can afford the deductible if you need to file a claim. Renters should consider their financial situation and potential risks when choosing a deductible.

In Aurora, Colorado, the best renters insurance company for service quality is Chubb with an annual premium of $132. The following providers are the top two best in Aurora, Colorado for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability.

• Chubb: MoneyGeek score of 93 out of 100 ($132 per year)
• American Family: MoneyGeek score of 87 out of 100 ($166 per year)

MoneyGeek scores renters insurance providers and their customer satisfaction based on J.D. Power surveys, which evaluate customer experiences and satisfaction levels.

Great customer service is important for renters looking for insurance because it ensures a smooth and stress-free experience, especially when filing a claim. When you make a claim, great customer service can make the process quicker and less stressful, helping you get back to your normal life faster.

For renters in Aurora, Colorado needing substantial personal property coverage, Auto-Owners offers an annual premium of $125 for a policy with $100,000 in personal property coverage. High personal property coverage means insuring a large amount of personal belongings against potential losses. The following providers are the two best providers in Aurora:

• Auto-Owners Insurance: MoneyGeek score of 92 out of 100 ($125 per year)
• State Farm: MoneyGeek score of 90 out of 100 ($158 per year)

Renters with numerous valuable items often require higher personal property coverage, which protects belongings like furniture, electronics and clothing from theft or damage. While higher coverage levels typically incur greater costs, it's vital to choose a provider that offers both affordability and exemplary service, ensuring a balance when protecting numerous possessions. High-value items such as jewelry or fine art may exceed standard policy limits and could necessitate additional coverage.

In Aurora, USAA is the top-ranked renters insurance company for those with military backgrounds. USAA is exclusively available to military members and their families. The following providers are the top two best providers in Aurora for veterans for a policy with $20,000 in personal property coverage.

• USAA: MoneyGeek score of 100 out of 100 ($93 per year)
• Auto-Owners: MoneyGeek score of 92 out of 100 ($58 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. While USAA is not the cheapest option in Aurora, its tailored offerings make it a strong contender for military members.

The best renters insurance company for those with poor credit in Aurora is Chubb, with an annual premium of $225 for a policy with $20,000 in personal property coverage. The top two providers in Aurora for renters with poor credit for the same type of policy are:

• Chubb: MoneyGeek score of 95 out of 100 ($225 per year)
• State Farm: MoneyGeek score of 93 out of 100 ($135 per year)

Renters in Aurora with poor credit often face higher rates because they are viewed as a greater risk to insurers. This risk stems from a historical correlation between credit scores and the likelihood of filing a claim. To potentially lower these rates, you can work on improving your credit and seek out discounts offered by insurance providers.

The average cost of renters insurance in Aurora, Colorado, is $115 annually, which breaks down to $10 monthly. This is slightly higher than the state average of $114. Compared with the national average of $145, Aurora’s cost is more affordable. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.

Renters should remember that the average cost of renters insurance in Aurora may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, fire or other covered events. Use the calculator below to see how prices change based on the value of your personal property.

The cost of renters insurance in Aurora, Colorado, is influenced by multiple factors, including the location of the rental property and the amount of coverage desired. Understanding these variables is key to finding a policy that fits your budget and needs.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out of pocket in the event of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to a higher perceived risk by insurance companies.
• Credit Score: Insurance companies may factor in your credit history when determining your premium, with better credit records often leading to lower costs.

Renters insurance primarily provides coverage for your personal belongings, but it also covers additional areas such as liability and living expenses if your rental is rendered uninhabitable. Here’s what a typical policy includes:

• Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter in Texas may receive compensation for a stolen laptop.
• Personal Liability Coverage: This protects you financially if a guest is injured in your rental or you cause property damage. A Texas renter could use this coverage if a guest slips and falls in their apartment.
• Loss of Use Coverage: This helps with additional living expenses if your rental is unlivable due to a covered peril. A renter might rely on loss of use coverage to pay for a hotel stay after a fire.

Although renters insurance provides a financial safety net, it doesn't shield against every mishap. For instance, it typically excludes flood damage and your roommate's possessions.

• Natural Disasters: Standard renters insurance often does not cover damage from floods.
• Roommate's Belongings: Personal property coverage does not extend to items owned by a roommate unless they are listed on the policy.
• High-Value Items: Expensive jewelry or electronics may exceed the policy's limit and require additional coverage.
• Business Equipment: Property used for business purposes might not be covered under a standard renters insurance policy.
• Pest Damage: Infestations and damage from pests like bed bugs or rodents are usually not covered.
• Car Theft: While personal property stolen from your car may be covered, the theft of the car itself is not.

The best renters insurance provider in Aurora, Colorado, depends on your unique needs. We answered the frequently asked questions to help you make an informed decision.