Best and Cheapest Renters Insurance in Oakland, CA (2024)


The best renters insurance company in Oakland, California, is Nationwide, with a MoneyGeek score of 89 and an average annual premium of $140 for $20,000 in personal property coverage. Capital Insurance Group is the cheapest, scoring 89 and costing $110 annually.

The best homeowners insurance provider balances customer service and affordability. Other providers may be best depending on your needs, such as Travelers, which excels in service quality with an annual premium of $150. MoneyGeek also found the best and cheapest renters insurance in California for those who live elsewhere in the state.

MoneyGeek Logo IconBest & CheapestRentersOakland, CA
2024

Table of Contents

Why Trust MoneyGeek? We analyzed information from the California Department of Insurance and Quadrant Information Services to determine Oakland's top renters insurance options.

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Renters insurance premiums in Oakland represent the most competitive estimates as of September 2024.

768Quotes Analyzed
 
8Providers Analyzed
 
3ZIP Codes

Overall Best Renters Insurance in Oakland, CA

The best renters insurance providers in Oakland for a policy with $20,000 in personal property coverage are:

  • Nationwide: MoneyGeek score of 89 out of 100 ($140 per year)
  • Travelers: MoneyGeek score of 88 out of 100 ($150 per year)

Nationwide has an affordability score of 48 out of 55 and a customer satisfaction score of 28 out of 30, balancing cost and service quality.

Company logo for Nationwide
Best OverallNationwide
MoneyGeek Score:
89/ of 100

Overview

Nationwide ranks first in Oakland for coverages, with an annual premium of $140. It offers credit card forgery coverage, which financially protects against unauthorized transactions on credit and debit cards, forged checks and counterfeit money. Additionally, Nationwide’s theft from vehicles coverage provides extra protection for your valuables stored in or on any motor vehicle, trailer or watercraft.

Best Renters Insurance in Oakland, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Nationwide89$ 140
Travelers88$ 150
State Farm87$ 142
Capital Insurance Group82$ 110
Allstate77$ 164
Farmers71$ 185
Chubb61$ 259

Cheapest Renters Insurance in Oakland, CA

In Oakland, Capital Insurance Group offers the cheapest renters insurance with an annual premium of $110 for $20,000 in personal property coverage.

  • Capital Insurance Group: $110 per year
  • Nationwide: $140 per year

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

Cheapest Renters Insurance in Oakland, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Capital Insurance Group89$ 110
Nationwide87$ 140
State Farm87$ 142
Travelers86$ 150
Allstate76$ 164
Farmers68$ 185
Chubb49$ 259

Cheapest Renters Insurance With a High Deductible in Oakland, CA

Capital Insurance Group offers the best and cheapest renters insurance in Oakland for a policy with $20,000 in personal property coverage and a $2,000 deductible. Here are the top options for higher deductible policies:

  • Capital Insurance Group: $86 per year
  • Nationwide: $111 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 comfortably pay is crucial if you need to file a claim.

Cheapest High Deductible Renters Insurance in Oakland, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Deductible:
Deductible:$ 2,000
Capital Insurance Group82$ 86
Nationwide91$ 111
Travelers90$ 121
State Farm82$ 139
Allstate71$ 164
Farmers67$ 181
Chubb61$ 239
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HOW TO SET YOUR DEDUCTIBLE

When selecting a deductible for your insurance policy, ensure it's an amount you can pay out of pocket if you need to file a claim. If you can afford it, opting for a higher deductible could decrease your annual premiums, leading to savings over time while maintaining adequate coverage.

Best Renters Insurance for Customer Service in Oakland, CA

In Oakland, Travelers is the best renters insurance company for service quality, with an average annual premium of $150 for $20,000 in personal property coverage.

  • Travelers: MoneyGeek score of 96 out of 100 ($150 per year)
  • Nationwide: MoneyGeek score of 95 out of 100 ($140 per year)

Great customer service is crucial for renters, as it ensures a smooth experience, particularly when filing a claim. For instance, with a provider known for excellent service, you can expect quick, helpful responses that make the claims process less stressful. MoneyGeek evaluates insurers using J.D. Power surveys, which assess customer satisfaction with policy offerings, pricing, billing and claims handling.

Company logo for Travelers
Best Service QualityTravelers
MoneyGeek Score:
96/ of 100

Overview

Travelers ranks first in Oakland for customer satisfaction and coverages, with an average annual premium of $150.

Travelers' contents replacement cost add-on covers personal property losses at full replacement value without deducting for depreciation. Its scheduled personal property coverage offers higher coverage limits for special items like jewelry and fine art without requiring appraisals or item listings.

Best Renters Insurance For Service Quality in Oakland, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
Travelers96$ 150
Nationwide95$ 140
Chubb93$ 259
State Farm86$ 142
Allstate77$ 164
Farmers77$ 185
Capital Insurance Group61$ 110

Best Renters Insurance for High Personal Property Limits in Oakland, CA

For $100,000 in personal property coverage, the top renters insurance providers in Oakland are:

  • Travelers: MoneyGeek score of 96 out of 100 ($358 per year)
  • State Farm: MoneyGeek score of 92 out of 100 ($378 per year)

Renters with many belongings need higher personal property coverage to financially protect items like furniture, electronics and clothing from theft, damage or loss. Higher coverage can increase premiums, so find a provider that balances cost with excellent service. High-value items like jewelry or art may need additional coverage beyond standard policies.

Company logo for Travelers
Best High Personal Property LimitTravelers
MoneyGeek Score:
96/ of 100

Overview

Travelers ranks first for affordability and customer satisfaction for renters with expensive homes in Oakland, with an annual premium of $358.

It offers contents replacement cost, covering personal property losses at replacement value without deducting for depreciation, and scheduled personal property coverage for high-value items like jewelry and fine art against a variety of losses.

Best Renters Insurance for High Personal Property Limits in Oakland, CA
Travelers96$ 358
State Farm92$ 378
Nationwide88$ 443
Capital Insurance Group82$ 338
Farmers77$ 493
Allstate76$ 512
Chubb61$ 790
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SCHEDULED PERSONAL PROPERTY COVERAGE

You need additional coverage if you own valuables like fine jewelry or art since standard policies often don't cover these items. Choose a provider offering scheduled personal property coverage to protect your high-value possessions.

Best Renters Insurance for Military Families in Oakland, CA

For renters with military backgrounds in Oakland, the top providers for a policy with $20,000 in personal property coverage are:

  • USAA: MoneyGeek score of 100 ($304 per year)
  • Nationwide: MoneyGeek score of 89 ($140 per year)

USAA offers a range of products tailored to the needs of active military members, veterans and their families. Although other insurers have lower premiums, USAA's specialized offerings make it a better overall choice for service members.

Company logo for USAA
Best for MilitaryUSAA
MoneyGeek Score:
100/ of 100

Overview

USAA is the top insurance provider for renters with a military background in Oakland. With an annual premium of $304, USAA excels in customer satisfaction and coverage. Its contents replacement cost coverage ensures you can replace stolen or damaged items, like a TV, with new ones without deducting for depreciation. The worldwide personal property coverage financially protects your belongings while deployed abroad.

Best Renters Insurance for Military in Oakland, CA
Data filtered by:Results filtered by:
Coverage:
Coverage:$20K Personal Property
USAA100$ 304
Nationwide89$ 140
Travelers88$ 150
State Farm87$ 142
Capital Insurance Group82$ 110
Allstate77$ 164
Farmers71$ 185
Chubb61$ 259

Average Cost of Renters Insurance in Oakland, CA

The average cost of renters insurance in Oakland is $164 annually ($14 monthly), higher than California's average of $148 and the national average of $145. These rates are based on a renters insurance policy with $20,000 in personal property limits, $100,000 in liability limits and a $1,000 deductible.

Renters insurance costs can vary depending on the amount of personal property coverage you choose. Consider using a personal property coverage calculator to estimate your needs and find a suitable policy.

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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Factors That Impact Renters Insurance Costs in Oakland

The cost of renters insurance in Oakland depends on several factors. Understanding them 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.

What Renters Insurance Covers in Oakland, CA

Renters insurance covers personal property, liability and additional living expenses. It protects financially against theft, fire and other unforeseen events. Liability coverage helps in case of lawsuits for injuries or property damage.

Here's what renters insurance covers:

  • Personal property coverage: Protects your belongings against damage or theft. For example, if a fire damages your apartment in California, your policy will help replace your furniture and electronics.
  • Personal liability coverage: Covers expenses if someone is injured in your rental unit or if you accidentally damage someone else's property. For example, if a guest slips and falls in your California apartment, this coverage can help with legal fees and medical bills.
  • Loss of use coverage: Pays for additional living expenses if your rental becomes uninhabitable due to a covered loss. For example, if an earthquake makes your California apartment unlivable, loss of use coverage can cover temporary housing costs.
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COMMONLY COVERED PERILS

Renters insurance typically covers losses from incidents like theft, fire and water damage. Understanding your policy's specific coverage is key to ensuring you're protected. Here are common situations renters insurance covers:

  • Fire or lightning
  • Windstorm or hail
  • Explosions
  • Riots
  • Aircraft
  • Vehicles
  • Smoke damage

What Renters Insurance Does Not Cover in Oakland

While renters insurance provides a financial safety net, it doesn't cover every situation:

  • Natural disasters: Standard policies typically exclude damage from floods.
  • Roommate's belongings: Personal property coverage usually doesn't extend to a roommate's possessions unless they're listed on the policy.
  • High-value items: Expensive items like jewelry or electronics may require additional coverage if their value exceeds the policy limit.
  • Business equipment: Property used for business purposes is generally not covered under standard renters insurance.
  • Pest damage: Damage from pests like bed bugs or rodents is usually not covered.
  • Car theft: While personal property stolen from your car may be covered, the theft of the vehicle itself is not.

FAQ: Renters Insurance in Oakland, CA

Choosing the best renters insurance provider in Oakland depends on your needs. We answer frequently asked questions to help you make an informed decision.

How much is renters insurance in Oakland, California, on average?
What is the cheapest renters insurance company in Oakland, CA?
What is the best renters insurance company in Oakland, CA?
Do I need renters insurance in Oakland, CA?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

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.