Best and Cheapest Renters Insurance in Thousand Oaks, CA (2024)

The best renters insurance company in Thousand Oaks, California is Nationwide, with a MoneyGeek score of 95 and an annual premium of $98 for $20,000 in personal property coverage. The cheapest provider is Capital Insurance Group with a score of 89 and an annual premium of $93.

The best provider should balance customer service with affordability. Travelers excels in service quality with an annual premium of $140. MoneyGeek also looked into the best and cheapest renters insurance in California for those who live elsewhere in the state.

The best renters insurance in Thousand Oaks, California, is Nationwide, with a MoneyGeek score of 95 out of 100 and an annual premium of $98. The two best renters insurance providers in Thousand Oaks for a policy with $20,000 in personal property coverage are:

• Nationwide: MoneyGeek score of 95 out of 100 ($98 per year)
• State Farm: MoneyGeek score of 89 out of 100 ($121 per year)

The best provider in the state is one that can balance both cost and affordability. Nationwide has perfectly balanced customer satisfaction and affordability, with an affordability score of 54 out of 55.

In Thousand Oaks, California, Capital Insurance Group offers the cheapest renters insurance at an annual premium of $93 for $20,000 in personal property coverage. Personal property coverage helps protect your belongings in case of theft, fire or other covered events.

The two cheapest providers in Thousand Oaks for $20,000 in personal property coverage and a $1,000 deductible are:

• Capital Insurance Group: $93 per year
• Nationwide: $98 per year

We rated the cheapest renters insurance in Thousand Oaks with minimal consideration for customer service. 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 personal belongings.

Capital Insurance Group offers the cheapest renters insurance in Thousand Oaks, California, for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $78. The two cheapest providers in Thousand Oaks for $20,000 in personal property coverage and a $2,000 deductible are:

• Capital Insurance Group: $72 per year
• Nationwide: $78 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. Balance both to ensure you're not paying too much out of pocket if you need to file a claim.

In Thousand Oaks, California, Travelers is the best renters insurance company for service quality, with an annual premium of $140. MoneyGeek scores renters insurance providers based on customer satisfaction surveys conducted by J.D. Power, which evaluate service quality and customer experiences. The top best providers in Thousand Oaks, California, 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 ($140 per year)
• Nationwide: MoneyGeek score of 95 out of 100 ($98 per year)

Great customer service is essential for renters looking for insurance because it ensures support and efficiency when making claims. For example, if you need to file a claim, great customer service means you'll receive timely assistance and clear communication, making the process smoother and less stressful.

For renters in Thousand Oaks, California needing high personal property coverage, State Farm offers the best option with an annual premium of $236 for $100,000 in coverage. High personal property coverage ensures that renters have adequate protection for their possessions, which could be of significant value. For $100K in personal property coverage, the two best providers in Thousand Oaks 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 an extensive collection of belongings often require higher personal property coverage. This coverage protects items like furniture, electronics, and clothing from loss or damage. While higher coverage levels typically come with higher premiums, finding an insurer that offers both cost efficiency and excellent service is vital. High-value items like jewelry or artwork may not be fully covered under standard policies and could necessitate additional coverage.

For renters with military backgrounds in Thousand Oaks, the top two providers for a policy with $20,000 in personal property coverage are:

• USAA: MoneyGeek score of 100 out of 100 ($112 per year)
• Nationwide: MoneyGeek score of 90 out of 100 ($98 per year)

USAA offers a range of products tailored for active military members, veterans and their families. Although other insurers may have lower premiums, USAA's specialized offerings make it a better overall choice for service members in most cases.

The average cost of renters insurance in Thousand Oaks, California, is $139 annually, which breaks down to $12 monthly. This is $9 cheaper than the California average of $148 and $6 cheaper 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.

The average cost of renters insurance in Thousand Oaks 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 Thousand Oaks, California, 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 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: Although 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 Thousand Oaks ultimately depends on your needs. Below, we address some FAQs to help you make an informed decision.