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

The best renters insurance company in Riverside, California is Nationwide, with a MoneyGeek score of 91 and an annual premium of $117. The cheapest renters insurance provider in Riverside, California is Capital Insurance Group, with a MoneyGeek score of 89 and an annual premium of $86.

The best homeowners insurance provider should offer a balance of customer service with affordability.
Depending on your needs, other providers may be best. For example, Travelers excels in service quality with a MoneyGeek score of 96 and an annual premium of $150. 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 Riverside, California, is Nationwide, with a MoneyGeek score of 91 out of 100 and an annual premium of $117. The following providers are the top two best renters insurance providers in Riverside 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 ($117 per year)
• State Farm: MoneyGeek score of 87 out of 100 ($133 per year)

The best provider in the state balances both cost and affordability. Nationwide has perfectly balanced customer satisfaction and affordability, with an affordability score of 49 out of 55.

In Riverside, California, Capital Insurance Group offers the cheapest renters insurance with an annual premium of $86 for $20,000 in personal property coverage. Personal property coverage helps protect your belongings from theft, fire, and other damages. The following providers are the top two cheapest providers in Riverside for $20,000 in personal property coverage and a $1,000 deductible, rated by MoneyGeek with minimal consideration for customer service.

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

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

In Riverside, 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 can affect your rates. The following providers are the top two cheapest providers in Riverside for $20,000 in personal property coverage and a $2,000 deductible.

• Capital Insurance Group: $67 per year
• Nationwide: $93 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 deductible if you need to file a claim.

Travelers is the best renters insurance company for service quality in Riverside, California, with an annual premium of $150. MoneyGeek scores renters insurance providers and their customer satisfaction based on J.D. Power surveys, which assess service quality and customer experience. The following providers are the top two best in Riverside 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 ($150 per year)
• Nationwide: MoneyGeek score of 95 out of 100 ($117 per year)

Great customer service is important for renters looking for insurance because it ensures a smooth and hassle-free experience, especially during claims. For example, when you make a claim, a provider with excellent customer service will guide you through the process efficiently, ensuring you get the support you need.

For renters in Riverside, California seeking substantial coverage for their belongings, Travelers stands out with an annual premium of $376 for a policy with $100,000 in personal property coverage. High personal property coverage ensures your valuables are protected against potential losses. For $100K in personal property coverage, the top two best providers in Riverside are:

• Travelers: MoneyGeek score of 92 out of 100 ($376 per year)
• Nationwide: MoneyGeek score of 92 out of 100 ($359 per year)

Renters with a significant number of possessions often require higher personal property coverage, which safeguards items like furniture, electronics, and clothing. This coverage typically comes with a higher price tag, underscoring the importance of choosing a provider that delivers both cost-effectiveness and exceptional service. It's worth noting that high-value items such as jewelry or art may exceed standard coverage limits and necessitate additional insurance.

In Riverside, USAA is the top-rated renters insurance company for those with military backgrounds, earning an annual rank of number one. USAA is exclusively available to military members. The following providers are the top two best providers in Riverside for veterans for a policy with $20,000 in personal property coverage.

• USAA: MoneyGeek score of 100 out of 100 ($166 per year)
• Nationwide: MoneyGeek score of 91 out of 100 ($117 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. Although USAA ranks first in overall score, it is not the cheapest in Riverside. Nationwide offers a more affordable option at $117 per year. While there are cheaper options, USAA's tailored offerings for military members make it worth considering.

The average cost of renters insurance in Riverside, California, is $154 annually, or $13 per month. This is slightly higher than the California state average of $148 and the national average of $145. 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 Riverside may vary greatly depending on the amount of personal property coverage purchased. Personal property coverage protects your belongings from damage or theft. Use the calculator below to see how prices change based on the value of your personal property.

The cost of renters insurance is influenced by multiple factors, including the location of the rental property and the amount of coverage desired. Understanding these variables is key to finding a policy that fits your budget and needs.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out of pocket in the event of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to a higher perceived risk by insurance companies.
• Credit Score: Insurance companies may factor in your credit history when determining your premium, with better credit records often leading to lower costs.

Renters insurance covers personal belongings, liability, and additional living expenses. It protects against theft, fire, and certain natural disasters. Buying renters insurance ensures financial security and peace of mind, making it an important investment for renters.

• Personal Property Coverage: This covers your belongings against risks like fire, theft, and vandalism. For example, if a wildfire damages your apartment in California, this coverage would help replace your lost items.
• Personal Liability Coverage: This protects you if someone gets injured in your rental unit or if you damage someone else's property. For instance, if a guest slips and falls in your California apartment, this coverage could help pay for their medical expenses.
• Loss Of Use Coverage: This helps cover additional living expenses if your rental becomes uninhabitable due to a covered event. For example, if your California apartment is damaged by a fire and you need to stay in a hotel, loss of use coverage would assist with those costs.

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 Riverside ultimately depends on your needs. Below are some frequently asked questions to help you make an informed decision.