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The Best Renters Insurance Companies

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    Reviews Report

    • Auto-Owners is Reviews.com’s pick for best renters insurance, earning a 4.5 out 5 score.
    • Liberty Mutual offers low-cost renters insurance starting at $5 per month.
    • USAA offers the best renters insurance coverage for military personnel and their immediate family members.

    If you rent a home or apartment, having renters insurance can come in handy. Some landlords even require tenants to purchase renters insurance before they can sign a lease. Anyone who rents can benefit from renters insurance, including students

    There are dozens of renters insurance companies on the market, so we did some research to find the best ones, using criteria like average premiums, coverage options, and discounts. See which companies made our list of the best renters insurance.

    The 8 Best Renters Insurance Companies of 2021

    • Auto-Owners: Best Renters Insurance for Discounts
    • Amica: Best Renters Insurance for Claims Satisfaction
    • Hartford: Best Renters Insurance for Optional Coverages
    • Allstate: Best Renters Insurance for Retirees
    • Erie: Best Renters Insurance for Customer Service
    • Travelers: Best Renters Insurance for First-time Renters
    • USAA: Best Renters Insurance for Military Members
    • Liberty Mutual: Best Renters Insurance for Affordable Coverage

    Compare the Best Renters Insurance of 2021

    Reviews.com Score Score is based on company’s customer experience, financial stability, and coverage options. J.D. Power Overall Customer Satisfaction J.D. Power scores are based on surveys for customer satisfaction and product quality. AM Best AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. Discounts
    Pin Auto-Owners4.5N/AA++8
    Pin Amica4.25N/AA++5
    Pin The Hartford4.2824A+3
    Pin Allstate4841A+2
    Pin Erie3.8865A+2
    Pin Travelers3.8807A++3
    Pin USAA3.8888A++4
    Pin Liberty Mutual3.8831A5
    Auto-Owners

    Best for Discounts

    Why we chose it

    Auto-Owners offers a wide variety of generous renters insurance discounts that can help renters save money on their policy.
    • 4.5 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Auto-Owners offers a wide variety of generous renters insurance discounts that can help renters save money on their policy.

    Pros

    • Excellent discounts
    • Impressive financial strength ratings
    • Good option for renters who prefer to work with an agent

    Cons

    • Can’t get a quote online
    • Coverage isn’t sold in every state
    • Add-on coverages are limited
    Read More

    Available Discounts

    • Multi-policy
    • Life multi-policy
    • Payment history
    • Paperless billing
    • Protective devices
    • Favorable loss history
    • Pay in full
    • Quote in advance

    Add-on Coverage

    • Renters Plus package (water backup, waterbed liability, glass deductible waiver, food spoilage)
    • Personal property replacement cost coverage

    More Auto-Owners Insurance Reviews

    Amica Renters Insurance

    Best for Claim Satisfaction

    Why we chose it

    Amica is rated above-average by J.D. Power for overall claim satisfaction, plus it’s easy to file claims online through the customer portal.
    • 4.25 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Amica is rated above-average by J.D. Power for overall claim satisfaction, plus it’s easy to file claims online through the customer portal.

    Pros

    • Impressive claim satisfaction rating from J.D. Power
    • Renters Essentials® bundle available
    • Several endorsements for customization

    Cons

    • Doesn’t offer many online tools or resources
    • Not rated by J.D. Power for customer satisfaction
    • Not available in Hawaii or Alaska
    Read More

    Available Discounts

    • Loyalty
    • Claim-free
    • Paperless statements
    • AutoPay
    • Multi-policy

    Add-on Coverage

    • Personal property replacement cost coverage
    • Scheduled personal property coverage
    • Smart devices and computer coverage
    • Identity fraud coverage

    More Amica Insurance Reviews

    The Hartford Renters Insurance

    Best for Optional Coverage

    Why we chose it

    Of all the providers we reviewed, The Hartford offers the largest selection of optional coverages for enhanced protection and policy customization.
    • 4.2 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 824 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Of all the providers we reviewed, The Hartford offers the largest selection of optional coverages for enhanced protection and policy customization.

    Pros

    • Low-cost coverage for renters over 50
    • Excellent add-on coverages
    • Website has helpful information about purchasing renters insurance

    Cons

    • Must be an AARP member to get coverage
    • Few discounts
    • Have to pay extra for replacement cost coverage
    Read More

    Available Discounts

    • Multi-policy
    • 24-hour security system
    • Policy renewal

    Add-on Coverage

    • ProtectorPLUS Zero Deductible Benefit
    • Replacement cost coverage
    • Valuable items blanket coverage
    • Earthquake insurance
    • Equipment breakdown coverage
    • Water backup coverage
    • Identity fraud coverage
    • Assisted living care coverage
    • Scheduled personal property coverage

    More The Hartford Insurance Reviews

    Allstate

    Best for Retirees

    Why we chose it

    If you are a retired renter over the age of 55, you can automatically save up to 25% on a renters insurance policy from Allstate.
    • 4 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 841 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    If you are a retired renter over the age of 55, you can automatically save up to 25% on a renters insurance policy from Allstate.

    Pros

    • Several endorsements available
    • Savings for renters 55 and older and retired
    • Online quotes available

    Cons

    Read More

    Available Discounts

    • Multi-policy
    • Retired renter

    Add-on Coverage

    • Scheduled personal property coverage
    • Personal umbrella policy
    • Flood insurance
    • Identity theft coverage

    More Allstate Insurance Reviews

    ERIE Insurance

    Best for Customer Service

    Why we chose it

    Erie has excellent customer service, with above-average ratings for overall customer satisfaction by J.D. Power, and a large network of agents.
    • 3.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 865 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Erie has excellent customer service, with above-average ratings for overall customer satisfaction by J.D. Power, and a large network of agents.

    Pros

    • Great customer satisfaction ratings
    • Excellent financial strength
    • Strong reputation and industry experience

    Cons

    • Not available nationwide
    • No online quotes
    • Few discounts and coverage options advertised
    Read More

    Available Discounts

    • Multi-policy
    • Protective devices

    Add-on Coverage

    • None advertised

    More Erie Insurance Reviews

    Travelers

    Best for First-time Renters

    Why we chose it

    Travelers offers lots of helpful online tools and resources, which makes it a great option for first-time renters who need help deciding what type and how much coverage to get.
    • 3.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 807 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Travelers offers lots of helpful online tools and resources, which makes it a great option for first-time renters who need help deciding what type and how much coverage to get.

    Pros

    • Certain home improvements after a loss are covered
    • Helpful FAQ section and online resources
    • High financial strength rating

    Cons

    • Few endorsements offered
    • Limited discount options
    • Below-average customer satisfaction score
    Read More

    Available Discounts

    • Multi-policy
    • Loss-free
    • Protective devices

    Add-on Coverage

    • Contents replacement cost coverage
    • Valuable items coverage

    More Travelers Insurance Reviews

    USAA Renters

    Best for Military Members

    Why we chose it

    USAA is one of the highest rated renters insurance companies, offering affordable coverage to active duty and retired military members, plus their spouses and children.
    • 3.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 888 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    USAA is one of the highest rated renters insurance companies, offering affordable coverage to active duty and retired military members, plus their spouses and children.

    Pros

    • High customer satisfaction rating
    • Excellent customer service
    • Free flood and earthquake insurance included
    • Policies come standard with contents replacement cost coverage

    Cons

    • Only available to military personnel
    • Few discounts
    • No optional coverages
    Read More

    Available Discounts

    • Multi-policy
    • Claims-free
    • Home security system
    • Military base

    Add-on Coverage

    • None advertised

    More USAA Insurance Reviews

    Liberty Mutual Renters Insurance

    Best for Affordable Coverage

    Why we chose it

    Liberty Mutual advertises renters insurance that costs at little as $5 per month, so it’s a great option for renters who are looking for affordable coverage.
    • 3.8 Reviews Score Score is based on company’s customer experience, financial stability, and coverage options.
    • A AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 831 J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Liberty Mutual advertises renters insurance that costs at little as $5 per month, so it’s a great option for renters who are looking for affordable coverage.

    Pros

    • Low-cost policies
    • Good discounts for additional savings
    • Policies are available nationwide

    Cons

    • Not the best third-party ratings
    • Few optional coverages
    • Coverage and discounts are not available in every state
    Read More

    Available Discounts

    • Claim-free
    • Early shopper
    • Multi-policy
    • AutoPay
    • Online purchase

    Add-on Coverage

    • Blanket jewelry coverage
    • Contents replacement cost coverage
    • Earthquake coverage

    More Liberty Mutual Insurance Reviews

    The Average Cost of Renters Insurance

    Renters insurance is a type of insurance that specifically covers individuals who rent a home or apartment. Renters insurance usually isn’t required, but some landlords request that tenants purchase renters insurance before moving into a property. Fortunately, renters insurance is one of the cheapest insurance policies you can get.

    According to the Insurance Information Institute (III), the average cost of renters insurance is $179 per year, which breaks down to about $14 per month. But like all types of insurance, renters insurance premiums are customized for each individual. Your premium is based on personal factors like your state, ZIP code, credit score, claim history, the amount of coverage you buy, and your deductible.

    Renters insurance is significantly cheaper than home insurance, mainly because renters insurance offers no protection for the building itself. Renters are only responsible for the individual unit. The landlord will have a separate policy that provides coverage for the structure of the building, much like regular home insurance. 

    What Renters Insurance Covers

    Renters insurance offers comprehensive coverage for many of the most common perils that a renter can face. Here are some of the things that renters insurance will cover:

    • Personal property coverage: Renters insurance provides coverage for your personal belongings, like clothing, furniture, and small appliances. It offers limited coverage for valuable items and electronics.
    • Liability coverage: If someone gets injured in your apartment or you accidentally damage someone else’s property, renters insurance will cover it.
    • Medical payments coverage: Medical payments coverage helps pay for medical expenses if someone gets injured at your home, even if you are not responsible.
    • Additional living expense coverage: If your home gets damaged or destroyed in a covered peril and you have to move out, additional living expenses will pay for a hotel, restaurant meals, and parking.

    Most renters insurance companies also offer optional coverages that you can purchase for an added fee. Common endorsements include flood insurance, contents replacement cost coverage, and identity theft coverage.

    What renters insurance doesn’t cover 

    Before you buy or get renters insurance quotes, it’s good to know what your policy won’t cover. Here’s a list of perils that are typically not covered by a standard renters insurance policy:

    • Flood damage
    • Earthquake damage
    • General wear and tear
    • Pets and infestations
    • Pet damage
    • Your vehicle
    • Your roommates’ belongings
    • The structure of the building

    How to Pick the Best Renters Insurance Company 

    There are dozens of insurance companies that sell renters insurance, but the best company for you might not be the best option for your friend, or even your roommate. Here are some things to keep in mind as you shop for and compare renters insurance:

    Renters Insurance FAQ

    Methodology

    We evaluated renters insurance companies based on availability, customer satisfaction, financial stability, and coverage to determine Reviews.com score and create our best renters insurance reviews. To compare renters insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:

    • Coverage: The more options a renters insurance company has for insurance add-ons and coverages, the higher it scores in our methodology.
    • Customer Experience: We reviewed the National Association of Insurance Commissioners’ National Complaint Index and compared each renters insurance company’s complaint rating.
    • Customer Satisfaction: With J.D. Power’s 2020 Home Insurance Satisfaction Study, we assigned a score to each company based on the rating it received.
    • Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each renters insurance company’s financial stability.
    • Discounts: We scored each renters insurance carrier based on the number of discounts advertised on its website.

    About the Authors

    Elizabeth Rivelli

    Elizabeth Rivelli Contributing Writer

    Elizabeth Rivelli is an insurance writer for Reviews.com. Over the last year, she has covered insurance providers, best policies, industry trends and more. Elizabeth has been featured in The Simple Dollar, Bankrate and Coverage.com, among others. She holds a bachelor's degree in Communication Studies from Northeastern University in Boston, MA. The Best Term Life Insurance Companies is Elizabeth’s favorite review on Reviews.com.

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