Best and Cheapest Renters Insurance in Tempe, AZ (2024)

The best renters insurance company in Tempe, Arizona, is Nationwide, with a MoneyGeek score of 90 and an annual premium of $134. The cheapest renters insurance provider is Auto-Owners with a MoneyGeek score of 94 and an annual premium of $114.

The best homeowners insurance provider should offer a balance of customer service with affordability. Depending on your needs, other providers may be best, such as Travelers for service quality with an annual premium of $237. MoneyGeek also looked into the best and cheapest renters insurance in Arizona for those who live elsewhere in the state.

The best renters insurance in Tempe, Arizona, is Nationwide with a MoneyGeek score of 90 out of 100 and an annual premium of $134. The following providers are the top two best renters insurance providers in Tempe for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible.

• Nationwide: MoneyGeek score of 90 out of 100 ($134 per year)
• American Family: MoneyGeek score of 88 out of 100 ($147 per year)

The best provider in the state balances both cost and affordability.

In Tempe, Arizona, Auto-Owners offers the cheapest renters insurance with an annual premium of $114 for $20,000 in personal property coverage. The following providers are the top two cheapest providers in Tempe for $20,000 in personal property coverage and a $1,000 deductible, with MoneyGeek rating the cheapest renters insurance in Tempe with minimal consideration for customer service.

• Auto-Owners: $114 per year
• Allstate: $119 per year

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

In Tempe, Arizona, Auto-Owners 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 $112. 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 Tempe for $20,000 in personal property coverage and a $2,000 deductible:

• Auto-Owners: $112 per year
• Nationwide: $113 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 your deductible if you need to file a claim. A higher deductible can save you money on premiums, but you'll need to pay more out of pocket if you have a claim.

In Tempe, Arizona, Travelers stands out as the best renters insurance company for service quality with an annual premium of $237. The following providers are the top two best providers in Tempe, Arizona, for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability:

• Travelers: MoneyGeek score of 85 out of 100 ($237 per year)
• Nationwide: MoneyGeek score of 84 out of 100 ($134 per year)

Great customer service is essential for renters looking for insurance because it ensures a smooth and supportive experience, especially when filing claims. For example, when you make a claim, prompt and helpful service can make the process less stressful and more efficient.

American Family offers the best renters insurance for those in Tempe, Arizona needing high personal property coverage, with an annual premium of $216 for $100,000 coverage. High personal property coverage ensures that renters with a significant amount of belongings are financially protected in case of loss or damage. For $100K in personal property coverage, the following providers are the top two best providers in Tempe:

• American Family: MoneyGeek score of 92 out of 100 ($216 per year)
• Nationwide: MoneyGeek score of 91 out of 100 ($265 per year)

Renters with a substantial number of possessions often require higher personal property coverage. This coverage safeguards items like furniture, electronics, and clothing in the event of theft, fire, or other covered losses.

In Tempe, USAA is the top-ranked renters insurance company, offering exclusive services for those with military backgrounds. The following providers are the top two best providers in Tempe for veterans for a policy with $20,000 in personal property coverage.

• USAA: MoneyGeek score of 100 out of 100 ($98 per year)
• Nationwide: MoneyGeek score of 90 out of 100 ($134 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. USAA is also the cheapest option in Tempe for military members.

In Tempe, the top renters insurance company for those with poor credit is Nationwide, with an annual premium of $212 for a policy with $20,000 in personal property coverage. The following providers are the top two best providers in Tempe for those with poor credit for the same type of policy:

• Nationwide: MoneyGeek score of 92 out of 100 ($212 per year)
• American Family: MoneyGeek score of 91 out of 100 ($258 per year)

Renters in Tempe with poor credit often face higher rates as they are viewed as higher-risk by providers. This risk perception stems from a history of credit issues that may indicate financial instability. To potentially lower these rates, renters with poor credit should work on improving their credit scores and seek out discounts where available.

The average cost of renters insurance in Tempe, Arizona, is $196 annually, which is about $16 per month. This is slightly higher than the state average of $195 and significantly higher than 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, remember that the average cost of renters insurance in Tempe may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of theft, damage, or loss. Use the calculator below to see how prices change based on the value of your personal property.

The cost of renters insurance in Austin, Texas, 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 property, liability, and additional living expenses. It protects against theft, fire, and other perils. Purchasing renters insurance provides financial protection and peace of mind, ensuring you are covered in case of unexpected events. Let's break down what renters insurance covers:

• Personal Property Coverage: This covers your belongings in case of theft, fire, or other perils. For example, if your apartment in Arizona is burglarized, your renters insurance can help replace stolen items.
• Personal Liability Coverage: This protects you if someone is injured in your rental or if you accidentally damage someone else's property. For instance, if a guest slips and falls in your Arizona apartment, this coverage can help with medical expenses and legal fees.
• Loss Of Use Coverage: This helps with additional living expenses if your rental becomes uninhabitable due to a covered event. If a fire makes your Arizona apartment unlivable, loss of use coverage can pay for hotel stays and other extra 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 Tempe ultimately depends on your needs. Below, we address some of the frequently asked questions to help you make an informed decision.