Best and Cheapest Renters Insurance in Missouri (2024)

AAA is Missouri's best and cheapest renters insurance company, with a MoneyGeek score of 85 out of 100 and an average annual premium of $81 for $20K in personal property coverage with a $1,000 deductible.

However, your best choice depends on your needs. Consider Nationwide if you value exceptional service or USAA if you have a military background.

The best renters insurance providers in Missouri for a policy with $20K in personal property coverage are:

• AAA: MoneyGeek score of 85 out of 100 ($81 per year)
• Shelter: MoneyGeek score of 82 out of 100 ($78 per year)

AAA offers a good balance of customer satisfaction and affordability. However, the best provider for you depends on your needs.

AAA ranks top among the cheapest renters insurance companies in Missouri, with an average annual premium of $81 for $20K in personal property coverage and a $1,000 deductible. Here are the two most affordable options for renters:

• AAA: $81 per year
• Shelter: $78 per year

Personal property coverage helps replace or repair your belongings if damaged, lost or stolen. Cheap renters insurance policies often have lower coverage limits. Higher coverage limits can lead to higher monthly costs but offer better protection if you have many personal belongings.

Shelter is Missouri's best renters insurance provider, with an average annual premium of $71 for $20K in personal property coverage and a $2,000 deductible. Here are the top options for higher deductible policies:

• Shelter: $71 per year
• AAA: $73 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest. While a higher deductible can lower your premium, choosing an amount you can afford is crucial if you need to file a claim.

Nationwide offers the best renters insurance for service quality in Missouri, with an annual premium of $123 for $20K in personal property coverage.

• Nationwide: MoneyGeek score of 89 out of 100 ($123 per year)
• American Family: MoneyGeek score of 83 out of 100 ($182 per year)

Great customer service in renters insurance means responsive and helpful support when needed. Quick, efficient handling of inquiries and claims offers peace of mind. A provider with excellent service guides you through the claims process, ensuring you're well-informed and stress-free.

For $100K in personal property coverage, the top renters insurance providers in Missouri are:

• Nationwide: MoneyGeek score of 85 out of 100 ($247 per year)
• State Farm: MoneyGeek score of 83 out of 100 ($254 per year)

Renters with more belongings need higher personal property coverage to replace items like furniture, electronics and clothes if damaged or stolen. While higher coverage often costs more, finding a provider that balances cost and good service ensures your valuables are well-covered without overpaying.

For renters with military backgrounds in Missouri, the top providers for a policy with $20K in personal property coverage are:

• USAA: MoneyGeek score of 100 out of 100 ($74 per year)
• AAA: MoneyGeek score of 85 out of 100 ($81 per year)

USAA offers products tailored for military members, including discounts and coverage options that suit their lifestyles. It ranks as the highest and most affordable provider for military personnel.

Nationwide is the best renters insurance company for those with poor credit in Missouri, with an average annual premium of $185.

• Nationwide: MoneyGeek score of 86 out of 100 ($185 per year)
• AAA: MoneyGeek score of 84 out of 100 ($146 per year)

Rates are higher for those with poor credit because they pose a greater risk to insurers and are more likely to file claims. Improving your credit and using available discounts can help reduce costs.

The average cost of renters insurance in Missouri is $131 annually or about $11 per month. This is $15 less than the national average of $146 annually. These rates are based on a policy with $20K in personal property coverage, $100K in liability limit and a $1,000 deductible.

Renters insurance costs can vary depending on your chosen coverage. Personal property coverage protects your belongings from theft, fire and other risks. Use the tool below to get an estimate based on your needs.

Renters insurance costs vary by city. In Missouri, for instance, the average annual premium in Columbia is $122, while in Kansas City, it's $141. These rates are based on a policy with $20K in personal property limit, $100K in liability limit, a $1,000 deductible and a good credit score. Check the average costs in your city using the table below.

Understanding the factors that affect the cost of renters insurance in Missouri can help you find a policy that fits your budget and needs.

• Location: Crime rates and weather risks in your area can affect your premium.
• Coverage amount: Higher coverage limits increase your insurance costs.
• Deductible: A higher deductible lowers your monthly premium but means higher out-of-pocket costs in a claim.
• Claims history: A history of claims may lead to higher premiums due to increased perceived risk.
• Credit score: A better credit record can result in lower premiums.

Determining your personal property coverage as a renter starts with a thorough personal inventory of your belongings, along with their estimated value and proof of ownership. Here's how to create one:

1. Start with big-ticket items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
2. Document details: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
3. Include receipts and appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
4. Store information securely: Keep your inventory list and supporting documents in a safe, accessible location, such as cloud storage.
5. Update regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.

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, and helps 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: Covers additional living expenses if your rental is uninhabitable due to a fire. For example, loss of use coverage can pay for 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

While renters insurance protects your personal property and liability, it doesn't cover all losses. Standard policies typically exclude:

• Natural disasters: Events like floods and earthquakes are usually not covered.
• High-value items: Expensive jewelry or electronics might exceed policy limits.
• Business equipment: Items used for business may require additional coverage.
• Roommate property: Your policy doesn’t cover your roommate’s belongings.
• Pest damage: Infestations and damage from pests are generally not covered.
• Car theft: Personal vehicles are covered by auto insurance, not renters insurance.

Understanding these exclusions can help you get additional coverage if needed, ensuring better financial protection against various risks.

Choosing the best renters insurance provider depends on your needs. We address common questions to help you find the right coverage.