Best and Cheapest Renters Insurance in San Mateo, CA (2024)

Travelers is the best renters insurance company in San Mateo, California, with a MoneyGeek score of 88 and an average annual premium of $117. Capital Insurance Group is the cheapest provider, with a MoneyGeek score of 89 and an average annual premium of $68. The best and cheapest quotes are based on $20,000 in personal property coverage.

The best homeowners insurance provider should offer a balance of customer service with affordability. Depending on your needs, other providers may be best. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

Travelers provides the best renters insurance in San Mateo, California, with a MoneyGeek score of 88 out of 100 and an average annual premium of $117. The following are the top two best renters insurance providers in San Mateo for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible:

• Travelers: MoneyGeek score of 88 out of 100 ($117 per year)
• Nationwide: MoneyGeek score of 86 out of 100 ($121 per year)

Travelers has perfectly balanced customer satisfaction and affordability, with an affordability score of 45 out of 55.

In San Mateo, California, Capital Insurance Group offers the cheapest renters insurance, with an average annual premium of $68 for $20,000 in personal property coverage. The following providers are the top two cheapest in San Mateo for $20,000 in personal property coverage and a $1,000 deductible, with MoneyGeek's rating having minimal consideration for customer service:

• Capital Insurance Group: $68 per year
• Allstate: $102 per year

Personal property coverage protects your belongings, such as furniture, electronics and clothing, against risks like theft or fire. Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can increase monthly costs but offer better protection if you have many personal belongings.

In San Mateo, California, Travelers offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an average annual premium of $95. The following providers are the top two cheapest in San Mateo for $20,000 in personal property coverage and a $2,000 deductible:

• Capital Insurance Group: $53 per year
• Travelers: $95 per year

A deductible is the amount you pay out of pocket before your insurance kicks in, and it can affect your rates. 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. Renters should consider their financial situation and risk tolerance when choosing a deductible amount.

In San Mateo, California, Travelers is the best renters insurance company for service quality, with an average annual premium of $117. The following providers are the top two best in San Mateo for a policy with $20,000 in personal property coverage for those who value excellent customer service without considering affordability.

• Travelers: MoneyGeek score of 96 out of 100 ($117 per year)
• Nationwide: MoneyGeek score of 95 out of 100 ($121 per year)

Excellent customer service is important for renters looking for insurance because it ensures a smoother process when filing a claim. MoneyGeek scores renters insurance providers based on customer satisfaction from J.D. Power surveys, which measure how happy customers are with their insurance.

For renters in San Mateo, California, needing high personal property coverage, State Farm is the standout choice, with an average annual premium of $190 for $100,000 in coverage. These are the top two best providers in San Mateo for $100K in personal property coverage:

• State Farm: MoneyGeek score of 95 out of 100 ($190 per year)
• Travelers: MoneyGeek score of 92 out of 100 ($283 per year)

Renters with a substantial number of possessions often require higher personal property coverage. This coverage protects your belongings from risks like theft, fire and water damage. While higher coverage levels typically come with increased premiums, it's important to find a provider that offers both affordability and excellent service. Remember that high-value items such as jewelry or art may need additional coverage to be fully protected.

In San Mateo, USAA is the top-ranked renters insurance company exclusively for those with military backgrounds. These are the top two best providers for military members in San Mateo for a policy with $20,000 in personal property coverage:

• USAA: MoneyGeek score of 100 out of 100 ($208 per year)
• Travelers: MoneyGeek score of 88 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 other insurers may offer lower premiums, USAA's specialized offerings usually make it a better choice for military members in San Mateo.

The average cost of renters insurance in San Mateo, California, is $134 annually or $11 monthly. This rate is lower 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 in personal property limits, $100,000 in liability limits and a $1,000 deductible.

Renters should remember that the average cost of renters insurance in San Mateo 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 much coverage you need based on the value of your personal property.

Various factors influence the cost of renters insurance in San Mateo, California. For instance, location-specific risks like earthquakes and the value of personal property can significantly affect premiums. Knowing what impacts the cost of renters insurance is crucial when choosing a policy to ensure you get the best coverage for your budget. Here are some key factors that affect renters insurance costs:

• Location: Areas prone to natural disasters, such as earthquakes, often have higher premiums.
• Property Value: Higher-value belongings increase the cost of coverage.
• Deductibles: Higher deductibles usually lower your premium but increase out-of-pocket costs in a claim.
• Coverage Amount: More extensive coverage options will raise the premium.
• Claims History: A history of frequent claims can lead to higher premiums.

Renters insurance covers personal belongings, liability and additional living expenses. It offers financial protection against theft, damage and accidents. Purchasing renters insurance ensures you are safeguarded from unexpected expenses, providing financial security. Below are the main areas covered by renters insurance:

• Personal Property Coverage: This coverage protects your belongings against damage or theft. For example, if your apartment in California is burglarized, your renters insurance can help replace stolen 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 apartment, this coverage can help with medical and legal costs.
• Loss of Use Coverage: This pays for additional living expenses if your rental becomes uninhabitable. If a fire damages your California apartment, loss of use coverage can cover hotel stays and other living expenses.

Renters insurance in San Mateo does not cover everything, including damage from floods and earthquakes. Here are some common exclusions to be aware of:

• Floods: Renters insurance does not cover damage caused by flooding.
• Earthquakes: Earthquake damage is typically excluded from standard renters insurance policies.
• High-Value Items: Items like jewelry or art may not be fully covered without additional riders.
• Pest Infestations: Damage caused by pests such as bed bugs or rodents is generally not covered.
• Roommate Property: Roommate's belongings are usually not covered under your policy.

The best renters insurance provider in San Mateo, California, depends on your unique needs. We answered the frequently asked questions to help you make an informed decision.