Best and Cheapest Renters Insurance in Thornton, CO (2024)

The best and cheapest renters insurance company in Thornton, Colorado is Auto-Owners, with a MoneyGeek score of 92 and an annual premium of $56. Depending on your needs, other providers may be best, such as Chubb, which excels in service quality with an annual premium of $132.

We also looked into the best and cheapest renters insurance in Colorado for those who live elsewhere in the state.

The best renters insurance in Thornton, Colorado is Auto-Owners with a MoneyGeek score of 92 out of 100 and an annual premium of $56. The following providers are the top two best renters insurance providers in Thornton for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible.

• Auto-Owners: MoneyGeek score of 92 out of 100 ($56 per year)
• State Farm: MoneyGeek score of 90 out of 100 ($65 per year)

The best provider in the state is one that can balance both cost and affordability. Auto-Owners has perfectly balanced customer satisfaction and affordability with an affordability score of 55 out of 55.

In Thornton, Colorado, Auto-Owners offers the cheapest renters insurance with an annual premium of $56 for $20,000 in personal property coverage. The two cheapest providers are:

• Auto-Owners Insurance: $56 per year
• State Farm: $65 per year

We rated the cheapest renters insurance in Thornton with minimal consideration for customer service. Personal property coverage helps protect your belongings, such as furniture, electronics and clothing, against risks like theft or damage.

Cheap renters insurance policies often come with lower personal property coverage limits. While higher personal property coverage limits can lead to higher monthly costs, they offer better protection if you have many personal belongings.

In Thornton, Colorado, 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 $54. The two cheapest providers are:

• Auto-Owners Insurance: $54 per year
• State Farm: $64 per year

A deductible is the amount you pay out of pocket before your insurance kicks in and 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 manage costs if you need to file a claim.

In Thornton, Colorado, the best renters insurance company for service quality is Chubb with an annual premium of $132. The following providers are the top two best in Thornton, Colorado, for a policy with $20,000 in personal property coverage for those who value great customer service without considering affordability.

• Chubb: MoneyGeek score of 93 out of 100 ($132 per year)
• American Family: MoneyGeek score of 87 out of 100 ($162 per year)

We scored renters insurance providers and their customer satisfaction based on J.D. Power surveys, which evaluate customer feedback on service quality and claims handling.

Great customer service is important for renters because it ensures a smooth claims process. For example, when you make a claim, a company with excellent customer service will handle your situation promptly and empathetically, reducing your stress during a difficult time.

Auto-Owners is the leading choice for renters in Thornton, Colorado, requiring high personal property coverage, with an annual premium of $118 for a policy with $100,000 in personal property coverage. The two best providers are:

• Auto-Owners: MoneyGeek score of 92 out of 100 ($118 per year)
• State Farm: MoneyGeek score of 90 out of 100 ($152 per year)

High personal property coverage means having insurance protection for a large amount of personal belongings within the rental unit. Renters owning many belongings often need higher personal property coverage, which safeguards against the loss of personal items due to theft, damage or disasters.

Higher coverage levels typically come with increased premiums. Finding a provider who offers a balance of cost and excellent service is vital when you have many possessions. High-value items like jewelry or art may exceed standard coverage limits and might require additional insurance.

USAA is the top-ranked renters insurance company for those with military backgrounds in Thornton, with an annual premium of $95. The following providers are the top two best providers for veterans for a policy with $20,000 in personal property coverage.

• USAA: MoneyGeek score of 100 out of 100 ($95 per year)
• Auto-Owners: MoneyGeek score of 92 out of 100 ($56 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle.

The best renters insurance company for those with poor credit in Thornton is Chubb, with an annual premium of $226 for a policy with $20,000 in personal property coverage. The following providers are the top two best providers in Thornton for those with poor credit for the same type of policy:

• Chubb: MoneyGeek score of 95 out of 100 ($226 per year)
• State Farm: MoneyGeek score of 93 out of 100 ($131 per year)

In Thornton, rates for renters with poor credit are often higher due to the greater risk they pose to providers. Insurance companies view poor credit as an indicator of potential future claims. However, you can take steps to improve your credit, which may help lower your rates, and always look for discounts that could apply to your situation.

The average cost of renters insurance in Thornton, Colorado, is $114 annually, which breaks down to $10 monthly. This is the same as the state average but lower 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 should remember that the average cost of renters insurance in Thornton may vary greatly depending on the amount of personal property coverage purchased. Personal property coverage protects your belongings in case of 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 in Thornton, Colorado, 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 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.

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 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 Thornton ultimately depends on your needs. Below, we address common questions to help you make an informed decision.