The best and cheapest renters insurance company in Simi Valley, California is Nationwide, with a MoneyGeek score of 97 and an annual premium of $98 for $20,000 in personal property coverage. Depending on your needs, other providers may be best, such as Travelers for service quality, with an annual premium of $132. We also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.
Best and Cheapest Renters Insurance in Simi Valley, CA (2024)
Nationwide is both the best and cheapest renters insurance in Simi Valley, with a MoneyGeek score of 97 and an annual premium of $98. It excels in affordability and customer satisfaction.
Updated: December 11, 2024
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Key Takeaways
The best overall renters insurance in Simi Valley, California, is provided by Nationwide, with a MoneyGeek score of 97 out of 100. This policy offers excellent value with an annual premium of just $98 for $20,000 in personal property coverage. Nationwide strikes an ideal balance between customer satisfaction and affordability, making it an outstanding choice for comprehensive renters insurance in the area.
In Simi Valley, California, the cheapest renters insurance option is offered by Capital Insurance Group at $76 per year for a policy with $20,000 in personal property coverage and a $2,000 deductible. Following close behind is Nationwide, with an annual premium of $78 under similar coverage terms. For those prioritizing service quality, Travelers presents itself as a strong contender with a premium of $132, backed by a high MoneyGeek score of 96 out of 100. It's important to consider both the cost and the deductible, as a higher deductible can lead to cheaper premiums but increased out-of-pocket expenses in the event of a claim. Your choice will ultimately depend on balancing affordability, service quality, and the level of coverage you need.
In Simi Valley, California, the top renters insurance provider for exceptional customer service is Travelers, with a MoneyGeek score of 96 out of 100 and an annual premium of $132. Nationwide closely follows, boasting a MoneyGeek score of 95 out of 100 and a more affordable annual premium of $98. Travelers is a prime choice if you prioritize high-quality service that ensures a smooth and efficient claims process, providing reassurance and prompt assistance during stressful events such as theft or damage. Meanwhile, Nationwide strikes a superb balance between customer satisfaction and affordability, making it an excellent option for budget-conscious renters who still want reliable support. Whether you're seeking premium service or an optimal mix of service and cost, both Travelers and Nationwide stand out as compelling choices for renters insurance in Simi Valley.
Why Trust MoneyGeek? To determine the best renters insurance in Simi Valley, California, we evaluated data from the California Department of Insurance and Quadrant Information Services.
Renters insurance premiums in Simi Valley represent the most competitive estimates as of December 2024.
Overall Best Renters Insurance in Simi Valley, CA
The best renters insurance in Simi Valley, California is Nationwide with a MoneyGeek score of 97 out of 100 and an annual premium of $98. The two best renters insurance providers in Simi Valley for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible are:
- Nationwide: MoneyGeek score of 97 out of 100 ($98 per year)
- Travelers: MoneyGeek score of 90 out of 100 ($132 per year)
The best provider in the state balances cost and affordability. Nationwide perfectly balances customer satisfaction and affordability with an affordability score of 55 out of 55.
Nationwide offers an annual premium of $98. Nationwide also offers credit card forgery and theft from vehicles coverages. Credit card forgery covers unauthorized transactions on your credit cards and bank debit/ATM cards, protecting you from financial loss. Theft from vehicles extends protection for your personal belongings stored in or on any motor vehicle, trailer, or watercraft, ensuring your items are safe even when you're on the go.
- Offers credit card forgery and theft from vehicles coverages
- Ranks second for affordability with an average annual premium of $98
- Ranks first for coverage
- Missing cyber event/ID theft coverage
- Ranks fourth for customer satisfaction
To find the best overall renters insurance in the city, MoneyGeek's scoring system emphasizes customer satisfaction and affordability. Secondary factors include coverages and financial stability.
Nationwide | 97 | $ 98 |
Travelers | 90 | $ 132 |
State Farm | 90 | $ 121 |
Allstate | 87 | $ 111 |
Capital Insurance Group | 82 | $ 98 |
Farmers | 76 | $ 159 |
Chubb | 61 | $ 256 |
Cheapest Renters Insurance in Simi Valley, CA
In Simi Valley, California, Nationwide offers the cheapest renters insurance with an annual premium of $98 for $20,000 in personal property coverage. Personal property coverage helps protect your belongings, such as furniture, electronics and clothing, in case of theft, fire or other covered events.
The two cheapest providers in Simi Valley for $20,000 in personal property coverage and a $1,000 deductible are:
- Nationwide: $98 per year
- State Farm: $121 per year
We rated the cheapest renters insurance in Simi Valley with minimal consideration for customer service. Cheap renters insurance policies often have lower personal property coverage limits. While higher coverage limits can result in higher monthly costs, they offer better protection if you own many personal belongings.
Nationwide | 97 | $ 98 |
Capital Insurance Group | 89 | $ 98 |
Allstate | 90 | $ 111 |
State Farm | 90 | $ 121 |
Travelers | 88 | $ 132 |
Farmers | 74 | $ 159 |
Chubb | 49 | $ 256 |
Cheapest Renters Insurance With a High Deductible Simi Valley, CA
In Simi Valley, California, Capital Insurance Group offers the cheapest renters insurance with an annual premium of $76 for a policy with $20,000 in personal property coverage and a $2,000 deductible. The two cheapest providers are:
- Capital Insurance Group: $76 per year
- Nationwide: $78 per year
A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It’s important to balance both, as a higher deductible may reduce your premium but increase your out-of-pocket costs if you need to file a claim.
Capital Insurance Group | 82 | $ 76 |
Nationwide | 96 | $ 78 |
Travelers | 91 | $ 107 |
Allstate | 82 | $ 111 |
State Farm | 85 | $ 119 |
Farmers | 72 | $ 156 |
Chubb | 61 | $ 237 |
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 still providing the financial protection you need.
Best Renters Insurance for Customer Service in Simi Valley, CA
In Simi Valley, California, Travelers is the best renters insurance company for service quality, with an annual premium of $132. MoneyGeek scores renters insurance providers and their customer satisfaction based on J.D. Power surveys, which measure customer experiences and satisfaction levels.
The top two best providers in Simi Valley for a policy with $20,000 in personal property coverage — for those who value great customer service without considering affordability — are:
- Travelers: MoneyGeek score of 96 out of 100 ($132 per year)
- Nationwide: MoneyGeek score of 95 out of 100 ($98 per year)
Great customer service is important for renters because it ensures a smooth experience when you need to make a claim. For example, if you experience a theft or damage, a company with excellent service will handle your claim quickly and efficiently, reducing your stress and helping you recover faster.
Travelers ranks first in coverage and offers the cheapest renters insurance in Simi Valley, California, with an annual premium of $132. Travelers provides contents replacement cost coverage, which settles covered personal property losses based on replacement cost at the time of the loss, without depreciation deductions. This benefits renters by ensuring they can replace lost items at current market value.
Additionally, its scheduled personal property coverage protects high-value items like jewelry and fine art from a variety of losses, allowing renters to add higher coverage limits without needing appraisals.
- Offers contents replacement cost and scheduled personal property coverages
- Provides claims free and protective device discounts
- Ranks first for coverage
To find the best renters insurance for service quality in the city, MoneyGeek's scoring system focused on customer service. Secondary factors considered include coverages and financial stability.
Travelers | 96 | $ 132 |
Nationwide | 95 | $ 98 |
Chubb | 93 | $ 256 |
State Farm | 86 | $ 121 |
Allstate | 77 | $ 111 |
Farmers | 77 | $ 159 |
Capital Insurance Group | 61 | $ 98 |
Best Renters Insurance for High Personal Property Limits in Simi Valley, CA
In Simi Valley, California, State Farm is the standout choice for renters requiring high personal property coverage, with an annual premium of $236 for a policy with $100,000 in coverage. High personal property coverage ensures that renters have sufficient protection for their belongings. The top two best providers in Simi Valley are:
- State Farm: MoneyGeek score of 95 out of 100 ($236 per year)
- Nationwide: MoneyGeek score of 93 out of 100 ($292 per year)
Renters with a substantial amount of personal belongings often need more coverage to protect their assets. Personal property coverage safeguards items like furniture, electronics and clothing against theft or damage.
While higher coverage levels typically mean higher premiums, it's important to find a provider that offers a balance of affordability and excellent service. Specific high-value items such as jewelry or art may fall outside standard coverage and could necessitate additional protection.
State Farm ranks first in affordability and customer satisfaction for expensive homes in Simi Valley, California, with an annual premium of $236. State Farm offers valuable coverages like cyber event/ID theft and earthquake damage. Cyber event/ID theft coverage helps renters restore their identity and recover from fraud. Earthquake damage coverage protects renters from financial loss due to earthquakes, a crucial benefit in California.
- Offers cyber event/ID theft and earthquake coverages
- Provides bundle and protective device discounts
- Ranks third for customer satisfaction
- Ranks third for coverage
To find the best renters insurance for those needing higher personal property limits, MoneyGeek's scoring system emphasizes customer satisfaction and affordability. Secondary factors include coverages and financial stability.
State Farm | 95 | $ 236 |
Nationwide | 93 | $ 292 |
Travelers | 92 | $ 329 |
Allstate | 83 | $ 344 |
Farmers | 81 | $ 370 |
Capital Insurance Group | 78 | $ 300 |
Chubb | 61 | $ 780 |
If you own valuables such as fine jewelry or art, you would need additional coverage as these items are not usually covered by standard policies. Opt for a provider that offers scheduled personal property coverage, which extends coverage to such valuables.
Best Renters Insurance for Military Families in Simi Valley, CA
In Simi Valley, USAA ranks first as the best renters insurance company for those with military backgrounds, with an annual premium of $147 for a policy with $20,000 in personal property coverage. The two best providers in Simi Valley for military members are:
- USAA: MoneyGeek score of 100 out of 100 ($147 per year)
- Nationwide: MoneyGeek score of 97 out of 100 ($98 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 is not the cheapest option in Simi Valley, it is worth considering for its specialized offerings for military members.
USAA stands out as the premier renters insurance provider for those with a military background in Simi Valley, leading in customer satisfaction and coverage. It has an annual premium of $147.
Contents replacement cost coverage ensures that in the event of theft or damage, you can replace your belongings without a financial burden. Worldwide personal property coverage is especially valuable for deployed military members, offering protection for personal items anywhere in the world.
- Provides claims free and military base or academy residence discounts
- Ranks first for customer satisfaction
- Ranks first for coverage
MoneyGeek's scoring for veterans' renters insurance prioritizes customer service and affordability. Secondary considerations include coverages and financial stability.
USAA | 100 | $ 147 |
Nationwide | 97 | $ 98 |
Travelers | 90 | $ 132 |
State Farm | 90 | $ 121 |
Allstate | 87 | $ 111 |
Capital Insurance Group | 82 | $ 98 |
Farmers | 76 | $ 159 |
Chubb | 61 | $ 256 |
Average Cost of Renters Insurance in Simi Valley, CA
The average cost of renters insurance in Simi Valley, California, is $139 annually, which is about $12 per month. This is cheaper than the California 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.
The average cost of renters insurance in Simi 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 damages. Use the calculator below to see how prices change based on the value of your personal property.
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.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Based on your inputs, MoneyGeek recommends getting a policy with in personal property coverage to avoid paying out of pocket after a disaster or theft.
Factors That Impact Renters Insurance Costs in Simi Valley
Various factors influence the cost of renters insurance in Simi Valley, California. For example, the location's crime rates and your credit score can significantly impact your premium. Understanding these factors is crucial when selecting a policy to ensure you get the best coverage at the most affordable price.
- 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.
What Renters Insurance Covers in Simi Valley, CA
Renters insurance covers personal belongings, liability, and additional living expenses. It protects against theft, fire, and certain natural disasters. Purchasing renters insurance is important for financial protection and peace of mind, helping you avoid unexpected expenses.
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 Simi Valley
Renters insurance primarily provides coverage for your personal belongings, but it also covers additional areas such as liability and living expenses if your rental is rendered uninhabitable. Here’s what a typical policy includes:
- Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter in Texas 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 Texas renter could use this coverage if a guest slips and falls in their apartment.
- Loss of Use Coverage: This 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.
FAQ: Renters Insurance in Simi Valley, CA
The best renters insurance provider for you in Simi Valley ultimately depends on your needs. Below, we address FAQs that can help guide your decision.
How much is renters insurance in Simi Valley, California, on average?
The average cost of renters insurance in Simi Valley, California is $139 annually.
What is the cheapest renters insurance company in Simi Valley, California?
The cheapest renters insurance company in Simi Valley is Nationwide, with an annual premium of $98.
What is the best renters insurance company in Simi Valley, California?
The best renters insurance company in Simi Valley is Nationwide, with a MoneyGeek score of 97.
Do I need renters insurance in Simi Valley, California?
While renters insurance is not legally required in Simi Valley, it is highly recommended to protect your personal property and for liability coverage.
About Mark Fitzpatrick
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.