Best and Cheapest Renters Insurance in Delaware (2024)

State Farm is the best and cheapest for $20K in personal property coverage, with an average annual premium of $85 and a MoneyGeek score of 93 out of 100.

The best insurer depends on your needs. Travelers is excels in customer service, while Allstate is best for people with poor credit.

State Farm is the best renters insurance provider in Delaware with a MoneyGeek score of 93 out of 100 and an annual premium of $85 for $20K in personal property coverage. The following are the two best renters insurance providers in Delaware for the same policy:

• State Farm: MoneyGeek score of 93 out of 100 ($85 per year)
• Allstate: MoneyGeek score of 81 out of 100 ($101 per year)

State Farm has perfectly balanced customer satisfaction and affordability. However, the best option for you will still depend on your needs.

State Farm offers the cheapest renters insurance in Delaware, with an annual premium of $85 for $20K in personal property coverage and a $1,000 deductible. The following are the top two cheapest providers for the same coverage:

• State Farm: $85 per year
• Allstate: $101 per year

Personal property coverage helps safeguard belongings like furniture, electronics and clothing against covered risks. Less expensive renters insurance plans often include lower limits on personal property coverage. While this can keep your monthly costs down, opting for higher coverage limits gives you more financial protection for your possessions.

For policies with $20K in personal property coverage and a $2,000 deductible, the top two cheapest providers in Delaware are:

• State Farm: $185 per year
• Allstate $101 per year

A deductible is the money you pay before your insurance company helps cover a claim. Choosing a higher deductible typically lowers your insurance premium because you're assuming more financial responsibility. Review the table below to see how changing your deductible can impact rates.

Travelers is the best renters insurance company for service quality in Delaware for $20K in personal property coverage, with an annual premium of $126. If you're seeking excellent customer service, the following providers are the top two best in Delaware:

• Travelers: MoneyGeek score of 96 out of 100 ($126 per year)
• Nationwide: MoneyGeek score of 96 out of 100 ($168 per year)

Great customer service can make a substantial difference to renters, especially during stressful times like making a claim. For instance, if you suddenly experience property loss or damage, a swift and empathetic response from your insurer can provide much-needed peace of mind.

State Farm offers the best renters insurance for those needing $100K of personal property coverage in Delaware, with an annual premium of $161. For the same policy, the top two best providers in Delaware are:

• State Farm: MoneyGeek score of 93 out of 100 ($161 per year)
• Travelers: MoneyGeek score of 88 out of 100 ($286 per year)

Personal property coverage protects your belongings, like furniture and electronics, from damage or theft. Higher coverage typically means higher premiums, making it crucial to find a provider that balances cost and quality service.

The best renters insurance company for those with military backgrounds in Delaware for $20K in personal property coverage is State Farm with an annual premium of $85. The following are the top two providers in Delaware:

• State Farm: MoneyGeek score of 93 out of 100 ($85 per year)
• Allstate: MoneyGeek score of 81 out of 100 ($101 per year)

For military members, finding the best provider means prioritizing both customer service and affordability. Balancing these factors is crucial due to the unique needs and lifestyle of military families.

Allstate is the best renters insurance company for those with poor credit in Delaware, with an annual premium of $101. The following are the top two best providers in Delaware for those with poor credit.

• Allstate: MoneyGeek score of 88 out of 100 ($101 per year)
• Nationwide: MoneyGeek score of 84 out of 100 ($168 per year)

Rates for those with poor credit are often higher, as they pose a greater risk to providers. These individuals are considered higher risk because they are statistically more likely to file claims. Those with poor credit can take steps to improve their credit to lower rates and take advantage of discounts where possible.

The average cost of renters insurance in Delaware is $125 annually, which is $10 per month, compared to the national average of $146 annually. These rates are based on a renters insurance policy with $20K personal property limits, $100K liability limits, and a $1,000 deductible.

Renters should note that the average cost of renters insurance in Delaware may vary greatly depending on the amount of personal property coverage you purchase. Use the tool below to get an estimate tailored to your needs.

The cost of renters insurance in Delaware 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 typically increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out-of-pocket in case of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to perceived risk.
• Credit Score: Insurance companies may use your credit score to determine your premium, with higher scores often leading to lower costs.

Determining your personal property coverage involves creating a personal inventory of all your belongings at home. A personal inventory is a detailed list of all the items you own, including their descriptions, values, and purchase dates. Follow these steps to create your personal inventory:

1. Categorize your items: Group your belongings into categories such as electronics, furniture, and clothing.
2. Document details: For each item, note its description, purchase date, and estimated value.
3. Take photos or videos: Visual documentation can be helpful for insurance claims.
4. Store receipts: Keep digital or physical copies of receipts for high-value items.
5. Secure your inventory: Store your inventory list in a safe place, such as a cloud storage service or a fireproof safe.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
• Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods or earthquakes typically falls outside standard policies. Here's what else is usually not included:

• Natural Disasters: Standard policies often exclude events like floods and earthquakes.
• High-Value Items: Expensive jewelry or electronics may exceed policy limits.
• Business Equipment: Items used for business purposes may require additional coverage.
• Roommate Property: Your policy does not cover your roommate's belongings.
• Pest Damage: Infestations and damage from pests are generally not covered.
• Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.

Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.

Finding the best renters insurance provider for you can be easy. We've answered some common questions to help you make an informed decision.