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Best renters insurance companies in 2025
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Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
What is renters insurance?
In your rental agreement, your landlord or property management company might have specified that you are required to get renters insurance. This type of coverage is primarily designed to financially protect you in the event of loss or damage to your personal belongings. Renters insurance costs an average of $170 per year or $14 per month, according to the Insurance Information Institute.
In addition to providing coverage for your personal belongings, renters insurance also offers liability coverage for accidents that happen to your guests. Imagine a visitor slips at your residence, sustaining an injury. In this case, if you are found negligent, renters insurance could help pay for their medical expenses. If the injury results in legal action, renters insurance can also help pay legal fees. Additionally, insurers commonly offer coverage for relocation and food if your rental becomes temporarily uninhabitable due to a covered claim.
Best renters insurance companies
Bankrate researched dozens of insurers to identify our picks for the best renters insurance companies. The following companies have high customer satisfaction ratings per J.D. Power, a leading third-party source for industry research, and many have received “Excellent” or “Superior” ratings from AM Best. A positive rating from AM Best indicates that an insurance company has historically been able to meet ongoing financial obligations (like paying claims). Additionally, the companies below either include additional perks or offer optional add-ons to bolster your renters policy, such as pet insurance and flood coverage.
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Lemonade's highly rated mobile app, powered by Maya the artificial intelligence bot, helps renters get a quote, manage their policy and file a claim all in one place. Renters who want an insurance company focused on global causes will appreciate that a portion of leftover premiums is donated to many different causes like the Malala Fund, the Trevor Project and March for Our Lives. However, the all-digital experience means renters won’t be able to have in-person customer service. Additionally, Lemonade renters insurance is only available in 29 states and Washington, D.C.
Best for discount opportunities
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Allstate offers renters insurance discounts for combining a renters policy with a car insurance policy, for installing theft or fire protection devices, for signing up for autopayments directly from your checking or savings account or for being 55 or older and retired. The company has a well-rated app for digital policy management, as well as a broad network of brick-and-mortar agencies. However, Allstate scored lower than average in J.D. Power’s 2024 U.S. Home Insurance Study for renters insurance customer satisfaction.
Best for regional coverage
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Erie Insurance has a stellar reputation built upon affordable rates and an easy-to-navigate claims service. In fact, it was ranked first in the latest J.D. Power study on renters satisfaction. Erie offers considerable discounts on bundles, additional living expenses if you need to find a temporary place to live and optional extra coverage for things like identity recovery and expensive personal items. Unfortunately, Erie only offers renters insurance in roughly a fifth of the U.S., but it could be an excellent choice if you live in one of the areas it services. States covered are Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin and the District of Columbia.
Best for renters on a budget
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Liberty Mutual could be a great choice for renters on a tight budget. The company advertises that its policies start at just $5 per month. Although the coverage options available are fairly basic, you might be able to add replacement cost coverage for your belongings and jewelry coverage. However, Liberty Mutual ranked third-to-last in J.D. Power’s renters insurance study, suggesting customers may not be satisfied with its coverage, customer service or claims handling.
Best for policy customization
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Nationwide is an excellent renters insurance provider if you want to customize your coverage. In addition to the basic coverage, you can also get credit card coverage, building additions and alterations coverage, valuables coverage and more. Additionally, Nationwide offers a Brand New Belongings endorsement. This type of coverage ensures you are compensated for your items' replacement value rather than actual cash value (which takes into consideration depreciation) should they be lost or damaged in a covered incident. Although Nationwide might be a little more expensive than average, the added expense could be worth it to the right shopper.
Best for local offices
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State Farm offers renters insurance throughout the U.S., making it a great option for renters in underserved or rural areas. But it’s not just State Farm’s wide availability that may make it a good option. The company also has exceptional ratings from J.D. Power and AM Best. Although State Farm doesn’t offer nearly as many discounts as some of the other providers we’ve chosen, you might lower your premium if you insure your car with State Farm or if you have security devices installed in your apartment.
Best for policyholder perks
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To qualify for The Hartford, you must be a member of AARP — and despite common belief, you do not need to be age 50 or older to qualify for membership. AARP members get exclusive access to a long list of discounts and perks as well as access to The Hartford renters insurance. The Hartford policyholders could save on hotels, gas, plane tickets, cell phone plans and more. The carrier’s New for Old protection also comes standard in its renters policies, which offers replacement cost for your items if they are damaged or destroyed in a covered loss. Additionally, The Hartford may give you a discount on your renters policy simply for living in a gated community.
Best for military-focused coverage
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USAA is a 2025 Bankrate Awards winner, partly due to its high J.D. Power scores and nationwide availability. The company has a stellar reputation among consumers and the insurance industry, and it offers renters insurance policies geared toward military families. The basic policy includes coverage for personal property, personal liability, medical payments and additional living expenses. Flood insurance is also included in standard USAA renters insurance policies. This is notable since flood coverage typically has to be purchased separately. However, USAA is not available to the general public. Only military members, veterans and qualifying family members are eligible for coverage.
How to compare renters insurance companies
With so many renters insurance companies on the market, how do you choose which provider is right for your needs? Deciding which renters insurance is best for you will depend largely on your particular living situation and coverage preferences. Here are a few key considerations:
- Make a list of potential providers. If you own a car, consider getting a quote from your car insurance provider (if it offers renters insurance). That way, you could earn a bundling discount. It also helps to think about what is most important to you. Do you prefer to handle your policy via a mobile app or in person? Is having 24/7 customer service important to you? Asking yourself questions like these can help you hone in on the best renters insurance companies for your needs.
- Have your information on hand. Once you know where you want to get quotes from, take a moment to gather your personal information. Typically, to get a renters insurance quote you will need to provide your address, the type of property you are renting and any safety features present (fire extinguishers, security cameras, etc.). Having all of this information ready to go can help speed up the quote process.
- Compare quotes. Once you have all of your personal information ready, you can start requesting quotes. Be sure that you’re specifying the same coverage types and policy limits for each quote for a fair price comparison.
- Review coverage offerings. While price is an important factor in finding a renters insurance policy, it’s not the only thing to consider. Review your quotes to make sure the coverage limits are what you need, especially as some landlords require their tenants to have a policy with a certain liability limit.
I compared a couple of quotes for renters insurance but ended up just purchasing coverage from the same company that writes my auto insurance. The bundling discount and ease of managing both policies in the same place outweighed the potential to save a couple bucks each month with a slightly cheaper company.Amelia Buckley, Bankrate Insurance Editor
Additional renters insurance comparison considerations
Like any insurance policy, renters insurance is not one-size-fits-all. Every renter has different needs, budgets and priorities. Think through the following.
- How much are your belongings worth? To help ensure you do not over- or under-insure your property, you could create a home inventory. This exercise can help you estimate the total value of your belongings so that you choose an appropriate personal property coverage amount.
- Do you have any high-value items? Possessions like fine jewelry, collectibles, art, guns or antiques often have modest coverage limits. For example, standard policies might only offer $1,000 for jewelry loss or damage, regardless of how much it's truly worth. Adding a scheduled personal property endorsement to your policy can provide broader coverage.
- Do you have a pet? You might not think about your pet when you buy renters insurance, but you may want to. While many pets are covered for damage or injuries they cause to others, certain dog breeds and exotic animals are often excluded. If you have one of these animals, you may need to shop around for a company willing to cover it.
- How often will friends and family visit? If you like to host guests or have large parties at your home, it could be beneficial to purchase higher liability insurance limits than what a standard renters policy provides. Liability insurance can help cover damage or injuries others incur.
- What company insures your vehicle? Many car insurance companies also offer renters insurance. When you bundle your policies together, you could see significant savings. Plus, there’s the added convenience of having all your insurance policies in one place.
If you aren’t sure where to start in your search for renters insurance, sitting down with a licensed insurance agent can be helpful. An agent can listen to your needs, circumstances and concerns and help recommend companies, coverage types and policy features that fit your situation.
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Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
What does renters insurance cover?
Renters insurance typically covers damage to your personal items, living expenses should your unit become uninhabitable and situations where a guest is injured. These things are generally not covered by your landlord’s insurance policy. Similar to homeowners insurance, covered events generally include fire, theft, falling objects, items stored outside of your rental and medical coverage for guests.
- Personal property: Coverage for your personal property is not included in your landlord’s insurance for their rentals. Purchasing renters insurance means having coverage for items like your laptop, clothing and furniture. Even if your personal property is stored away from your rental, coverage generally extends to anywhere your personal property is kept, up to a specified dollar amount.
- Additional living expenses: If your rental becomes uninhabitable due to a covered loss like a fire, renters insurance helps cover the resulting costs from having to stay outside your home while it is being repaired. This could include fees for hotels, food and other necessities.
- Medical payments and liability: If a guest gets injured, medical payments coverage can help pay for bills resulting from the accident, regardless of fault. If you are found negligent for someone’s injuries and they sue, liability insurance can also help with legal fees, medical expenses, payments for pain and suffering and lost wages.
Depending on the common risks in your area, you may want to consider additional coverage options where available. You may choose to add earthquake coverage if you live in a state more prone to those damages, for example. Flood insurance is another common policy some renters purchase alongside standard coverage, since it can financially protect your personal property if it is damaged in a flood.
Do I need renters insurance?
Even if your lease agreement does not require renters insurance, most insurance professionals recommend that you have it. If your apartment is burglarized, for instance, you could be stuck paying for new items completely out of pocket. The cost is relatively low considering the amount of financial protection you receive from a renters insurance policy.
Frequently asked questions
