Updated: January 13, 2025
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The best renters insurance providers generally offer a balance between affordability, various coverage options, reliable customer service and financial stability. However, what’s best for you depends on a variety of factors, such as where you live, your desired coverage levels, your credit score and more.
Why Trust MoneyGeek? We obtained information from Quadrant Information Services and examined rates of customer and claim satisfaction from the top industry assessments, J.D. The National Association of Insurance Commissioners (NAIC), AM Best, and Power. In order to provide the best renters insurance solutions for different renter profiles and demands, as well as at the national and state levels, MoneyGeek developed a ranking methodology to compare the data.
While State Farm is the best overall renters insurance provider across various coverage levels, the best option for you depends on what you’re looking for. For instance, for military members and veterans, the best is USAA, while for those with poor credit, Chubb is the better option.
The winners for each category can vary based on your desired dwelling coverage. Explore the table below and toggle between common coverage levels to find the best provider for your needs.
| Best Overall | State Farm | 92 | $8 | $101 |
| Best Value For Money | State Farm | 96 | $8 | $101 |
| Best For Customer Satisfaction | Chubb | 87 | $14 | $165 |
| Best For Military Members | Chubb | 94 | $18 | $221 |
| Best For Poor Credit | Chubb | 94 | $18 | $221 |
State Farm offers the best balance between affordability and customer satisfaction, earning it a high MoneyGeek score across different coverage levels. Auto-Owners Insurance is the next best provider, earning a MoneyGeek score of 88 out of 100.
With a MoneyGeek score of 92 out of 100 and average monthly premium of $8 for $20K in personal property coverage, State Farm is an excellent choice for renters. It’s the best in 22 states for $20K in personal property coverage and in 31 states for $50K and $100K in coverage.
Beyond standard coverages, State Farm also offers Cyber Event / ID Theft, which can lessen the suffering and expense involved in getting your finances back following fraud or identity theft. And to help renters save, State Farm has discounts if you bundle different policies or install protective devices in your rental unit.
However, State Farm may not be the best option if you’re looking for various endorsement options. State Farm’s endorsements can vary from state to state, so it’s best to contact an agent to ask about available options in your area.
Auto-Owners Insurance scores 88 out of 100 thanks to a high affordability and coverage score. Having a high coverage score means Auto-Owners Insurance offers more endorsement options compared to other providers.
For instance, renters can purchase Contents Replacement coverage, which can pay to repair or replace belongings without consideration for depreciation, or Back-Up of Sewer or Drain, which can cover damage caused by water back-up of sewers or drains. Renters with an Auto-Owners Insurance policy can also qualify for discounts if they go paperless, pay in full, pay premiums on time or are claims-free.
However, Auto-Owners Insurance does not offer Cyber Event / ID Theft coverage, which is a common endorsement amongst providers that protects you financially against fraud.
While State Farm ranks first across different personal property coverages, the runner ups can vary. Explore MoneyGeek’s ranking for the best renters insurance providers by personal property coverage below. After all, it's always important to shop around and compare renters insurance quotes from at least three insurance companies.
| State Farm | 92 | $8 | $101 |
| Auto-Owners Insurance | 88 | $9 | $102 |
| Nationwide | 85 | $11 | $133 |
| American Family | 83 | $11 | $136 |
| Chubb | 80 | $14 | $165 |
| Allstate | 79 | $10 | $121 |
| Farmers | 69 | $14 | $167 |
| Travelers | 57 | $21 | $255 |
The best renters insurance varies by state and city. State Farm is the best provider in 22 states and is followed by Nationwide ranking first in seven states and Chubb in six states. Seven other providers also rank first in various states.
Find your state below and follow the link to learn more about the best and cheapest renters insurance companies where you live and based on your desired dwelling coverage.
| State Farm | 96 | $27 |
| Auto-Owners Insurance | 91 | $31 |
| Nationwide | 82 | $54 |
| COUNTRY Financial | 82 | $35 |
| Allstate | 69 | $63 |
| Travelers | 61 | $92 |
| Foremost Insurance | 45 | $90 |
| Birmingham | State Farm | 96 | $31 |
| Birmingham | Auto-Owners Insurance | 90 | $36 |
| Birmingham | Nationwide | 84 | $49 |
| Birmingham | COUNTRY Financial | 82 | $38 |
| Birmingham | Foremost Insurance | 65 | $52 |
| Birmingham | Travelers | 61 | $84 |
| Birmingham | Allstate | 59 | $74 |
| Huntsville | State Farm | 95 | $23 |
| Huntsville | Auto-Owners Insurance | 93 | $23 |
| Huntsville | Nationwide | 80 | $50 |
| Huntsville | COUNTRY Financial | 80 | $34 |
| Huntsville | Allstate | 76 | $44 |
| Huntsville | Foremost Insurance | 62 | $52 |
| Huntsville | Travelers | 61 | $82 |
| Mobile | State Farm | 96 | $31 |
| Mobile | Auto-Owners Insurance | 93 | $34 |
| Mobile | Nationwide | 89 | $64 |
| Mobile | COUNTRY Financial | 85 | $40 |
| Mobile | Allstate | 78 | $81 |
| Mobile | Travelers | 76 | $125 |
| Mobile | Foremost Insurance | 43 | $189 |
| Montgomery | State Farm | 96 | $26 |
| Montgomery | Auto-Owners Insurance | 93 | $28 |
| Montgomery | Nationwide | 83 | $50 |
| Montgomery | COUNTRY Financial | 81 | $37 |
| Montgomery | Foremost Insurance | 69 | $44 |
| Montgomery | Travelers | 61 | $87 |
| Montgomery | Allstate | 58 | $78 |
If you're looking for affordability paired with excellent customer service, State Farm stands as the top budget-friendly choice for $20K in personal property coverage. In MoneyGeek's study to find the best cheap option, we emphasized cost over coverage and found that State Farm continued to rank first.
State Farm offers the best and most affordable renters insurance, combining low monthly rates with excellent customer service. On average, rates with State Farm range from just $8 per month for $20K in personal property coverage to $18 per month for $100K in coverage.
To help renters save, State Farm offers discounts if you bundle auto insurance or life insurance with renters insurance. You can also save even more if you have protective devices installed. The availability of State Farm’s discounts, however, can vary from state to state, so it’s important to contact an agent to see what’s available in your area.
State Farm consistently ranks as the most affordable renters insurance provider for various levels of personal property coverage, but the second-place providers can differ. Use the table below to see MoneyGeek’s ranking of the best and most affordable providers based on your desired coverage limits.
| State Farm | 96 | $8 | $101 |
| Auto-Owners Insurance | 94 | $9 | $102 |
| Nationwide | 85 | $11 | $133 |
| Allstate | 84 | $10 | $121 |
| American Family | 83 | $11 | $136 |
| Chubb | 77 | $14 | $165 |
| Farmers | 69 | $14 | $167 |
| Travelers | 47 | $21 | $255 |
Chubb is the best renters insurance provider if you place a higher priority on customer service than cost. MoneyGeek prioritized client claims satisfaction without regard for affordability when determining the top renters insurance provider for customer service options.
With high J.D. Power customer satisfaction ratings, Chubb earns its place as the best renters insurance provider for customer service in states where it’s available. With Chubb, you can get $20K in personal property coverage at an average of $14 a month.
Renters can take advantage of Chubb’s contents replacement endorsement, which covers the full replacement cost of your belongings in the event of a covered loss. If you frequently rent a car, Chubb’s rental car coverage also offers primary car rental coverage anywhere in the world if your liability limit is $1 million or more.
However, Chubb does not offer Cyber Event / ID Theft coverage, which is a common endorsement that other providers have. It also does not have a lot of unique endorsements, which means those who need extra coverage through endorsements may have to look elsewhere.
For those seeking exceptional customer service at any level of personal property coverage, Chubb remains the leading choice. However, other providers may come close depending on the coverage amount you need. To find the best option for customer satisfaction, explore MoneyGeek’s rankings in the table below, tailored to your desired coverage limits.
| Farmers | 66 | $14 | $167 |
| State Farm | 80 | $8 | $101 |
| American Family | 82 | $11 | $136 |
| Nationwide | 86 | $11 | $133 |
| Travelers | 86 | $21 | $255 |
| Auto-Owners Insurance | 72 | $9 | $102 |
| Chubb | 87 | $14 | $165 |
| Allstate | 63 | $10 | $121 |
USAA, exclusively serving military members, veterans and their families, is the top choice for renters insurance for those in the military community. With a MoneyGeek score of 100 out of 100, USAA has high customer satisfaction scores and some of the most competitive rates in the industry.
USAA earns top scores in all categories — from affordability and customer satisfaction to coverage options and financial stability. It’s the best across the nation and exclusively caters to military members, veterans and their family members.
In terms of endorsements, USAA offers Computer and Data Recovery coverage, which can cover the cost of common accidents such as accidentally damaging your laptop or smartphone. If you are deployed or decide to move abroad, USAA’s Worldwide Personal Property is an endorsement that covers you with overseas insurance.
At USAA, a policy with $20K in personal property coverage costs an average of $10 per month. Military members can save up to 28% if they live in the barracks or have other housing on base. Additionally, cadets, midshipman and candidates can save up to 45% if they reside in one of the US Military Service Academies.
To explore how USAA performs and how much it costs with different premiums, check our MoneyGeek’s table below.
| USAA | $20K Personal Property | 100 | $10 | $125 |
| USAA | $50K Personal Property | 100 | $16 | $188 |
| USAA | $100K Personal Property | 100 | $23 | $280 |
| USAA | $250K Personal Property | 100 | $53 | $634 |
If you have a poor credit score, Chubb is the best provider for $20K in personal property coverage. With an average cost of $18 per month, Chubb balances affordability with great customer service — even if you have poor credit.
Your credit score impacts renters insurance premiums because insurers use it to assess the likelihood of filing a claim. A higher score suggests responsible financial behavior, which can lower your risk profile and lead to lower premiums. Conversely, a lower credit score may result in higher premiums, as it's seen as a potential indicator of greater risk.
Chubb stands out as the top choice for renters with poor credit, thanks to its strong customer service and competitive rates. Offering $20K in personal property coverage for around $18 a month, Chubb provides affordable protection despite credit challenges.
To help renters with poor credit save, Chubb offers valuable discounts. Renters can save by living in buildings equipped with protective devices such as central station burglar alarms, fire-resistant construction or approved security systems. Additionally, Chubb provides bundling discounts when you combine renters insurance with other policies like auto or homeowners insurance, making it an affordable choice for those looking to maximize their coverage while minimizing costs.
However, Chubb offers fewer discount opportunities compared to other providers. While its policies are already reasonably priced, those seeking additional savings through discounts may want to explore other options.
While Chubb ranks as the best option for $20K in personal property coverage, the ideal renters insurance provider for those with poor credit may differ based on the coverage amount. To explore the best options for your specific coverage needs, check out MoneyGeek’s rankings in the table below.
| Chubb | 94 | $18 | $221 |
| Nationwide | 92 | $17 | $209 |
| State Farm | 92 | $16 | $195 |
| American Family | 91 | $21 | $249 |
| Allstate | 84 | $15 | $180 |
| Travelers | 83 | $67 | $800 |
| Farmers | 81 | $31 | $368 |
| Auto-Owners Insurance | 51 | $191 | $2,289 |
Choosing the right renters insurance depends on what matters most to you. If keeping costs low is a priority, you might go with the provider offering the most affordable rates. If excellent customer service and timely claims handling are more important, you may prefer a company with a strong reputation for service in your area.
At MoneyGeek, we believe renters can enjoy both affordability and quality service, along with the coverage they need. By following a few simple steps, you can find the best insurance provider for your situation.
Before choosing a renters insurance policy, it’s important to evaluate how much personal property coverage you require. Take inventory of your belongings and estimate their total value, including electronics, furniture, and other valuables. This step helps ensure you select a policy with adequate protection in case of loss or damage.
Once you know your coverage needs, compare multiple insurance providers to find one that offers the right balance of affordability and customer service. Look at customer reviews, J.D. Power ratings, and financial stability ratings to gauge each provider’s reputation. This research will help you identify companies that align with your priorities.
Request quotes from several renters insurance companies based on your coverage requirements. Be sure to provide accurate information about your living situation and property value to get the most reliable estimates. Comparing quotes will allow you to see which provider offers the best rates for the coverage you need.
Check for any discounts you might qualify for, such as bundling with auto or home insurance, having protective devices in your apartment, or being a loyal customer. Many providers offer significant savings through these discounts, which can lower your premium. Taking advantage of discounts helps maximize your savings without compromising coverage.
Before finalizing your policy, carefully review the terms and conditions, including coverage exclusions and limits. Pay special attention to details like liability limits and endorsements for additional protection, such as identity theft or pet damage coverage. Understanding the fine print ensures there are no surprises when you need to file a claim.
Once you’ve chosen the right policy, proceed with the purchase and keep copies of all relevant documents for your records. Store a digital or physical copy of your policy for easy access in case you need to file a claim. This final step ensures you're fully prepared and protected moving forward.
If you still have questions about the best renters insurance, the following answers to some frequently asked questions should help you better understand renters insurance.
Based on MoneyGeek’s criteria, State Farm offers the best renters insurance for most consumers. It combines affordability, customer service and financial stability to give renters the best value. However, if you’re an eligible military service member, USAA is an outstanding choice.
When reviewing the best renters insurance companies, look for a company with low rates, good customer service and fast claim resolution. You can find the lowest rates by comparing multiple insurers online
Based on MoneyGeek’s methodology, State Farm offers the best renters insurance rates among widely available insurers. On average, a policy with $20K in personal property coverage with State Farm costs $8 per month.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a 5-time Jeopardy champion!
He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
