Best and Cheapest Renters Insurance in Moreno Valley, CA (Sept 2024)

The best renters insurance company in Moreno Valley, California is Nationwide with a MoneyGeek score of 91 and an annual premium of $116. The cheapest provider is Capital Insurance Group with a MoneyGeek score of 89 and an annual premium of $86. The best provider should balance customer service with affordability. For service quality, Travelers excels with an annual premium of $147. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

The best renters insurance in Moreno Valley, California, is Nationwide, with a MoneyGeek score of 91 out of 100 and an annual premium of $116. The following providers are the top two best renters insurance providers in Moreno Valley for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.

• Nationwide: MoneyGeek score of 91 out of 100 ($116 per year)
• State Farm: MoneyGeek score of 89 out of 100 ($121 per year)

Nationwide perfectly balances customer satisfaction and affordability.

In Moreno Valley, California, Capital Insurance Group offers the cheapest renters insurance with an annual premium of $86 for $20,000 in personal property coverage. The following providers are the top two cheapest providers in Moreno Valley for $20,000 in personal property coverage and a $1,000 deductible, and MoneyGeek rated the cheapest renters insurance in Moreno Valley with minimal consideration for customer service.

• Capital Insurance Group: $86 per year
• Nationwide: $116 per year

Personal property coverage protects your belongings from damage or theft. Cheap renters insurance policies often have lower personal property coverage limits. Higher coverage limits may increase monthly costs but offer better protection if you own many personal belongings.

In Moreno Valley, California, Capital Insurance Group 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 $67. A deductible is the amount you pay out of pocket before your insurance kicks in, and it can affect your rates. The following providers are the top two cheapest providers in Moreno Valley:

• Capital Insurance Group: $67 per year
• Nationwide: $91 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're not overpaying for coverage but also not left with too high out-of-pocket costs if you need to file a claim.

In Moreno Valley, California, the best renters insurance company for service quality is Travelers with an annual premium of $147. The following providers are the top two best in Moreno Valley for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability.

• Travelers: MoneyGeek score of 96 out of 100 ($147 per year
• Nationwide: MoneyGeek score of 95 out of 100 ($116 per year)

Great customer service is important for renters looking for insurance because it ensures a smooth experience when filing claims. For example, when you make a claim, excellent customer service can mean faster processing and clearer communication. MoneyGeek scores renters insurance providers based on J.D. Power surveys, which measure customer satisfaction and service quality.

For Moreno Valley renters requiring substantial personal property coverage, State Farm stands out with an annual premium of $288 for a policy with $100,000 in personal property coverage. High personal property coverage ensures your numerous and valuable belongings are protected under your renters insurance policy. In Moreno Valley, the top two providers are:

• State Farm: MoneyGeek score of 94 out of 100 ($288 per year)
• Travelers: MoneyGeek score of 93 out of 100 ($365 per year)

Renters with a significant number of possessions often need higher personal property coverage. This coverage safeguards your belongings from potential risks like theft or damage. While higher coverage usually comes with a higher price tag, it's important to find a provider who offers both reasonable costs and excellent service. High-value items such as jewelry or art may exceed standard coverage limits and could require additional insurance.

In Moreno Valley, USAA is the top-ranked renters insurance company for those with military backgrounds, with an annual premium of $171. The following providers are the top two best providers in Moreno Valley for a policy with $20,000 in personal property coverage.

• USAA: MoneyGeek score of 100 out of 100 ($171 per year)
• Nationwide: MoneyGeek score of 91 out of 100 ($116 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverage that suit the military lifestyle. It is also the cheapest option in Moreno Valley for military members.

The average cost of renters insurance in Moreno Valley, California is $155 annually, which breaks down to $13 monthly. This is slightly higher than the California state average of $148 and the national average of $145.

Moreno Valley's average premium is $7 more annually than the state average and $10 more than the national average. 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 Moreno Valley 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.

Renters insurance costs in Moreno Valley, California, can be influenced by several factors. For example, the location's crime rates and weather risks can impact premiums. Additionally, the amount of coverage you choose will affect your costs.

• Location: Living in high-crime areas can increase premiums due to the higher risk of theft or vandalism. Conversely, safer neighborhoods may have lower rates.
• Coverage Amount: The more coverage you need, the higher your premium will be. This is because the insurer's risk increases with the amount of coverage.
• Deductible: A higher deductible can lower your premium. However, this means you will pay more out-of-pocket in the event of a claim.
• Credit Score: Insurers often use credit scores to assess risk. Poor credit can result in higher premiums, while good credit may lower your costs.
• Claims History: A history of frequent claims can lead to higher premiums. Insurers view a history of claims as an indicator of higher risk.

Renters insurance covers your personal property, liability, and additional living expenses. It protects against theft, fire, and certain natural disasters.

• Personal Property Coverage: This protects your belongings from risks like fire or theft. For example, if a wildfire damages your apartment in California, this coverage helps replace your items.
• Personal Liability Coverage: This covers legal expenses if someone is injured in your rental. For instance, if a guest slips and falls in your California home, this coverage can help with medical bills and legal fees.
• Loss Of Use Coverage: This helps with additional living expenses if your rental becomes uninhabitable. If an earthquake renders your California apartment unlivable, loss of use coverage can pay for temporary housing.

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 depends on your unique needs. We answered the frequently asked questions to help you make an informed decision.