Best and Cheapest Renters Insurance in Simi Valley, CA (September 2024)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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.