The Best and Cheapest Renters Insurance in Long Beach, CA, for 2024: Rankings, Reviews and Rates

bestrenters insuranceLong Beach

2024

The Cheapest and Best Renters Insurance in Long Beach

Cheapest renters insurance in Long Beach - Lemonade

Best renters insurance in Long Beach - USAA

Since insurance providers offer policies with similar core coverages, policy cost is often the most important differentiator between insurers. To get the cheapest renters insurance in the city, MoneyGeek recommends comparing quotes from many companies.

The following are companies that offer the cheapest renters insurance in Long Beach:

• Lemonade: $98 per year
• Allstate: $123 per year

The prices in this guide are for policies with $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible. Note that your actual rate may differ. To see how rates vary, you can modify the personal property coverage limits in the chart below.

Renters who live outside of Long Beach may compare renters insurance across the entire state of California.

Average Annual Rates for Personal Property Insurance

Personal Property Coverage:

$20,000

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1

USAA

Score:97

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by MoneyGeek

4.7/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take

USAA is our top pick due to its perfect J.D. Power customer satisfaction and financial stability scores, as well as a high MoneyGeek affordability score. However, only current and former military members and their families can access this provider.

More About USAA

In addition to being an inexpensive insurance option, USAA offers a variety of specialized coverages. In contrast to other insurers, USAA provides coverage for flood and earthquake damage, as well as discounts to active military personnel and those serving abroad.

2

State Farm

Score:94

-

COMPARE QUOTES

by MoneyGeek

4.9/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take

State Farm received the highest ratings in financial stability and affordability, as well as a relatively high rating for customer service. Furthermore, State Farm renters insurance policies are widely available.

More About State Farm

State Farm's renters insurance is typically among the most affordable in the United States. Adding restoration coverage to your policy for an extra $25 per year will help protect you against identity theft. You may also get earthquake insurance through State Farm if you live in a high-risk area.

Long Beach renters pay an average of $241 per year for insurance, or about $20 per month. This is $82 more annually compared to the national average of $159.

Although there are a lot of factors that affect the cost of your renters insurance, the following are the most important:

1. Personal property. The amount of personal property you want to insure has a significant impact on your coverage amount. When shopping for the best and cheapest Long Beach renters insurance, this is the most important factor.
2. Location. Your renters insurance premium is determined by your ZIP code due to an area’s susceptibility to natural disasters and crime rate. In areas with a history of theft or severe weather, renters insurance rates may be higher.
3. Deductible. You must pay the deductible when an insurance company replaces your belongings. Higher deductibles lower monthly rates, but you’ll pay more out of pocket when you make a claim.
4. ACV vs RCV. Insurance companies may provide actual cash value (ACV) or replacement cost value (RCV) after an accident. With ACV insurance, the provider will reimburse you the depreciated value of your possessions at a lower monthly rate. However, RCV insurance, though more expensive, covers the cost of a comparable new item.
5. Liability coverage amount. Renters insurance liability coverage normally begins with a $100,000 claim limit. However, the quantity of coverage you choose will have only a minimal effect on the amount you pay for renters insurance. You may add thousands of dollars in coverage for a few dollars every year.

Calculate How Much Renters Insurance You Need

Personal Property Coverage Calculator

When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.

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Based on your inputs, MoneyGeek recommends getting a policy with in personal property coverage to avoid paying out of pocket after a disaster or theft.

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In contrast to many other types of insurance, your location has a minor effect on renters insurance prices. According to MoneyGeek's study, where you live has minimal influence on your monthly insurance costs.

Long Beach does not mandate renters insurance, but having it might help you pay for repairing or replacing lost or stolen belongings. This policy may also cover accidents at your home. Annual rates for insurance policies are often relatively inexpensive. It's important to know that your landlord's property insurance does not cover your personal possessions.

The right level of coverage is important while looking for Long Beach renters insurance since it will cover the cost of replacing or repairing your belongings in the case of theft or damage. The 2019 property crime rate in Long Beach, as reported by the FBI, was 1,910 per 100,000 people, approximately 1% more than the national average.

Some Long Beach residents may also purchase additional insurance policies that cover other risks, such as fire and water damage. Insurance providers in Long Beach often provide the following coverages for renters:

• Personal property coverage: Personal property includes furniture, gadgets and apparel. This kind of coverage helps repair or replace your possessions after a covered loss, such as a theft or fire.
• Additional living expenses (ALE): When a policyholder's home is temporarily uninhabitable additional living expenses coverage pays for their living expenses.
• Liability insurance: You are covered by renters liability insurance if you injure others due to an accident or negligence. It may pay legal bills if you are sued for a home-related accident.
• Medical payments coverage: Regardless of who is at fault, coverage covers the medical expenses of anybody injured on your property in an accident.

Long Beach renters insurance covers your personal belongings but not the building itself. In addition, there are some perils that renters insurance does not cover. It may be prudent to have additional coverage for such risks.

For instance, water damage is covered by renters insurance. However, most conventional policies exclude flood-related water damage. If you want extra protection against flood damage, you may get it via the National Flood Insurance Program (NFIP).

Most renters insurance policies also exclude your roommates' belongings, earthquake damage, automobile damage, jewelry and other valuables that exceed the policy limits. Before making your purchase, read the policy carefully to ensure that you are adequately covered.

Customers looking for renters insurance should opt for a carrier that offers the best price without compromising service quality. MoneyGeek answers some of the most commonly asked questions about Long Beach renters insurance.

About Mark Fitzpatrick

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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.

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