Best and Cheapest Renters Insurance in Mobile, AL (2024)

The best and cheapest renters insurance company in Mobile, Alabama is State Farm with a MoneyGeek score of 96 and an annual premium of $169.
Depending on your needs, other providers may be best. Travelers excels in service quality with an annual premium of $473.
MoneyGeek also looked into the best and cheapest renters insurance in Alabama for those who live elsewhere in the state.

The best renters insurance in Mobile, Alabama, is State Farm with a MoneyGeek score of 96 out of 100 and an annual premium of $169. The following providers are the top two best renters insurance providers in Mobile for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible.

• State Farm: MoneyGeek score of 96 out of 100 ($169 per year)
• Nationwide: MoneyGeek score of 94 out of 100 ($252 per year)

The best provider in the state can balance both cost and affordability.

In Mobile, Alabama, State Farm offers the cheapest renters insurance with an annual premium of $169 for $20,000 in personal property coverage. Personal property coverage protects your belongings against risks like theft or damage. The following providers are the top two cheapest providers in Mobile for $20,000 in personal property coverage and a $1,000 deductible, and MoneyGeek rated the cheapest renters insurance in Mobile with minimal consideration for customer service.

• State Farm: $169 per year
• Auto-Owners Insurance: $178 per year

Cheap renters insurance policies often have lower personal property coverage limits. Higher coverage limits can increase monthly costs but offer better protection if you have many belongings.

In Mobile, Alabama, 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 $157. A deductible is the amount you pay out-of-pocket before your insurance kicks in and can affect your rates. The following providers are the top two cheapest providers in Mobile for $20,000 in personal property coverage and a $2,000 deductible:

• Auto-Owners: $157 per year
• State Farm: $159 per year

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 out-of-pocket costs if you need to file a claim.

In Mobile, Alabama, Travelers is the best renters insurance company for service quality, with an annual premium of $473. The following providers are the top two best providers in Mobile, Alabama, for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability.

• Travelers: MoneyGeek score of 95 out of 100 ($473 per year)
• Nationwide: MoneyGeek score of 95 out of 100 ($252 per year)

Great customer service is important for renters looking for insurance because it ensures a smooth and hassle-free experience, especially when filing a claim. For example, if you need to make a claim, great customer service means you'll receive prompt assistance and clear communication throughout the process.

For those in Mobile, Alabama needing substantial personal property coverage, State Farm stands out with an annual premium of $375 for policies with $100,000 in personal property coverage. High personal property coverage ensures that renters have sufficient protection for their belongings in case of loss or damage. In Mobile, the top two best providers for $100K in personal property coverage are:

• State Farm: MoneyGeek score of 96 out of 100 ($375 per year)
• Auto-Owners: MoneyGeek score of 92 out of 100 ($487 per year)

Renters who own a lot of belongings often need higher personal property coverage, which safeguards their items from risks like theft, fire, or water damage. Higher coverage levels typically mean higher premiums. It's important to find a provider who can offer both reasonable costs and excellent service, ensuring a balance when you have many possessions.

USAA is the best renters insurance company for those with military backgrounds in Mobile, Alabama, with an annual premium of $303. USAA is a company exclusively for those with military backgrounds in Mobile. The following providers are the top two best providers in Mobile for veterans for a policy with $20,000 in personal property coverage.

• USAA: MoneyGeek score of 100 out of 100 ($303 per year)
• State Farm: MoneyGeek score of 96 out of 100 ($169 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. USAA is tied for first in affordability in Mobile, making it the cheapest option for military members. While there are other affordable options, USAA's tailored offerings make it worth considering.

In Mobile, Nationwide offers the best renters insurance for individuals with poor credit, with an annual premium of $420 for a policy with $20,000 in personal property coverage. The following providers are the top two best in Mobile for those with poor credit for the same type of policy:

• Nationwide: MoneyGeek score of 95 out of 100 ($420 per year)
• State Farm: MoneyGeek score of 95 out of 100 ($372 per year)

In Mobile, rates for renters with poor credit are typically higher, as insurers consider them higher-risk due to a history of financial instability. However, by taking steps to improve credit scores and seeking available discounts, you can work towards more favorable insurance premiums.

The average cost of renters insurance in Mobile, Alabama is $397 annually, which breaks down to about $33 per month. This is higher than the state average of $261 annually and the national average of $145 annually. 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 Mobile may vary greatly depending on the amount of personal property coverage purchased. Personal property coverage protects your belongings in case of damage or theft. Use the calculator below to see how prices change based on the value of your personal property.

Various factors can influence the cost of renters insurance in Mobile, Alabama. For example, your location within the city and the coverage amount you choose can significantly impact your premiums. It is important to understand these factors when selecting a policy to ensure you get the best coverage at an affordable price. Below are some key factors that affect renters insurance costs:

• Location: Your neighborhood's crime rate and susceptibility to natural disasters can increase premiums. Areas with higher risks typically have higher insurance costs.
• Coverage Amount: Higher coverage limits will raise your premiums. It's essential to balance adequate protection with affordability.
• Deductible: A higher deductible can lower your monthly premium. However, it means you'll pay more out-of-pocket in the event of a claim.
• Credit Score: Insurers often use credit scores to assess risk. A lower credit score can result in higher premiums.
• Type of Coverage: Additional coverage options, such as flood or earthquake insurance, can increase costs. Tailor your policy to include only necessary protections.

Renters insurance provides coverage for personal belongings, liability protection, and additional living expenses. It is important to purchase renters insurance because it safeguards against financial loss from theft, damage or accidents, offering peace of mind and financial security.

• Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter 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 renter could use this coverage if a guest slips and falls in their apartment.
• Loss of Use Coverage: Loss of use coverage 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 earthquakes or 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 for you in Mobile ultimately depends on your needs. Below, we address some frequently asked questions to help you make an informed decision.