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

The best and cheapest renters insurance company in Westminster, Colorado is Auto-Owners , with a MoneyGeek score of 92 and an annual premium of $56 for $20,000 in personal property coverage.

Depending on your needs, other providers may be best. For instance, Chubb excels in service quality with a score of 93 and a premium of $136. 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 Westminster, Colorado is Auto-Owners with a MoneyGeek score of 92 out of 100 and an annual premium of $56. The two best renters insurance providers in Westminster for a policy with $20,000 in personal property coverage, $100,000 in personal liability, and a $1,000 deductible are:

• Auto-Owners: MoneyGeek score of 92 out of 100 ($56 per year)
• State Farm: MoneyGeek score of 90 out of 100 ($63 per year)

The best provider in the state can balance both cost and affordability. Auto-Owners earned an affordability score of 55 out of 55.

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

• Auto-Owners: $56 per year
• State Farm: $63 per year

MoneyGeek rated the cheapest renters insurance in Westminster with minimal consideration for customer service. Cheap renters insurance policies often have low personal property coverage limits.

Personal property coverage helps protect your belongings in case of theft, fire, or other covered events. While higher coverage limits can lead to higher monthly costs, they offer better protection if you own many personal belongings.

In Westminster, 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: $54 per year
• State Farm: $62 per year

A deductible is the amount you pay out of pocket before your insurance covers the rest, and it can affect your rates. A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. Balance both to ensure you can afford your premiums and have sufficient coverage if you need to file a claim.

In Westminster, Colorado, Chubb is the best renters insurance company for service quality, with an annual premium of $136. The top two best providers in Westminster, 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 ($136 per year)
• American Family: MoneyGeek score of 87 out of 100 ($154 per year)

We scored renters insurance providers and their customer satisfaction based on J.D. Power surveys, which evaluate the quality of service and customer experience. Great customer service is important for renters looking for insurance because it ensures a smooth and supportive experience, especially when you need to make a claim. For example, when you file a claim, excellent customer service means you get timely assistance and clear communication, making the process less stressful.

For renters in Westminster, Colorado needing substantial personal property coverage, Auto-Owners stands out with an annual premium of $118 for a policy covering $100,000 in personal property. The two best providers in Westminster are:

• Auto-Owners: MoneyGeek score of 92 out of 100 ($118 per year)
• State Farm: MoneyGeek score of 91 out of 100 ($146 per year)

High personal property coverage ensures that a renter's valuable belongings are protected under their insurance policy. Renters with a significant amount of belongings often require higher personal property coverage. This coverage protects items like furniture, electronics and clothing from damage or loss.

As coverage limits increase, so does the premium, making it vital to find a provider that offers a good balance of cost and service. High-value items such as jewelry or artwork may need additional coverage.

USAA is the top-ranked renters insurance company for those with military backgrounds in Westminster, with an annual premium of $93. The two best providers in Westminster for veterans for a policy with $20,000 in personal property coverage are:

• USAA: MoneyGeek score of 100 out of 100 ($93 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, offering discounts and coverages that suit the military lifestyle. Although Auto-Owners ranks first in affordability, USAA might be worth considering.

The top renters insurance company for people with poor credit in Westminster is Chubb, with an annual premium of $232 for a policy with $20,000 in personal property coverage. The following providers are the top two best providers in Westminster for those with poor credit for the same type of policy:

• Chubb: MoneyGeek score of 94 out of 100 ($232 per year)
• State Farm: MoneyGeek score of 93 out of 100 ($127 per year)

Rates in Westminster for those with poor credit are often higher because these renters are viewed as higher-risk to providers. This is due to the correlation between credit scores and the likelihood of filing a claim. However, by taking steps to improve their credit and seeking discounts, renters can work towards lowering their rates over time.

The average cost of renters insurance in Westminster, Colorado, is $113 annually, which is about $9 monthly. This is slightly cheaper than the Colorado state average of $114 per year and significantly lower than the national average of $145 per year. 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 Westminster may vary greatly depending on the amount of personal property coverage you purchase. 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 Westminster, 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 Westminster ultimately depends on your specific needs. Below, we address some common questions to help you make an informed decision.