Renters insurance usually covers medical payments, personal property, personal liability and loss of use, which all help financially protect tenants in the event of injury, theft and other situations. After reviewing several insurers nationwide using our comprehensive rating methodology, we found that the best renters insurance companies are Lemonade, American Family and USAA. Many of our top picks offer quality coverage below the national average cost, which is around $15 per month or $179 per year.
Our team scored each company on this list against a range of criteria, focusing specifically on renters insurance policy costs, coverage details, customer experience and the insurer’s industry standing. Learn more about our top picks in this guide below.
The Best Renters Insurance Companies of 2026
Based on our in-depth research and national review of 27 renters insurance companies, we found that the following offer the best coverage for renters:
- Lemonade Best for Most Renters
- American Family Best for College Students
- USAA Best for Military Families
- State Farm Best Customer Experience
- Nationwide Best for Customizable Coverage
We’ve found that Lemonade is the best renters insurance company for most renters due to the company’s fast, AI-powered sign-up and claims processes and strong customer experience.
If convenience is a driving factor for you when choosing a renters insurance company, our team recommends considering Lemonade. The provider leaves the traditional agent network business model in the past, in favor of a digital-first experience, which is why we named it as the best for most renters. You can obtain a quote, purchase a policy, and even file a claim in seconds through its AI bot, Maya.
Features a best-in-class mobile app experience
Leverages AI for fast claims processing
Provides unique landlord property damage coverage as an add-on option
Only available in 23 U.S. states
Not ranked by AM Best
Based on our research, the national average cost of a renters insurance policy is $15. We could not source more expansive data on costs for Lemonade insurance, but we do like that the provider allows customers to choose from a wide variety of deductibles between $250 and $2,500. We encourage renters to get a free quote from Lemonade to better understand their costs for a renter’s insurance policy with the company.
Lemonade Renters Insurance Discounts
Discounts offered by Lemonade include the following:
- Multi-policy bundling
- Protective devices
To better review the strengths and weaknesses of insurers, our team surveyed 1,000 renters nationwide with current renters insurance. Of all respondents, 39 had a policy with Lemonade.
Our results found that 90% of participants with a Lemonade policy were satisfied with the provider. Policyholders who expressed satisfaction with Lemonade cited affordability, useful coverage and bundling options from the company. The majority of those who were dissatisfied cited high costs and unsatisfactory coverage.
We chose American Family as the best provider for college students because it allows students to extend protection to dorm rooms or off-campus housing, which is unique in the industry. It also provides policyholders 24/7 access to its support team.
American Family can cater to those looking for both a personalized and digitized experience. Renters can connect with a local agent to handle concerns or submit insurance claims online through the customer portal.
Features 24/7 customer service and claims support
Includes identity theft coverage in standard policies
Offers a diminishing deductible add-on
Online quote tool has vague policy details
Coverage, on average, costs more than some other top-rated providers in this review
The average cost of a renters insurance policy from American Family is $15, which is on par with the national average for coverage.
In addition, we found that the insurer isn’t cheaper than the national average for any of our customer profiles. Still, this doesn’t mean you can’t find coverage from American Family that suits your needs and budget, as it offers a wide variety of discounts. See the table below for a comparison of costs by customer type:
| Customer Type | American Family Average Cost | National Average Cost |
|---|---|---|
| Budget Shopper* | $12.87 | $11.53 |
| Standard Shopper** | $15.33 | $14.91 |
| Premium Shopper*** | $28.66 | $25.02 |
| Has a Claims History | $20.94 | $17.40 |
| Has Poor Credit | $27.26 | $24.16 |
| Has Excellent Credit | $13.14 | $12.32 |
| Has Military Status | $16.12 | $13.92 |
*Budget Shopper has $15,000 in personal property and a $2,000 deductible
**Standard Shopper has $25,000 in personal property and a $500 deductible
***Premium Shopper has $75,000 in personal property and a $250 deductible
American Family Renters Insurance Discounts
Renters turning to American Family for coverage may benefit from the following discounts:
- Autopay
- Full payment
- Paperless billing
- Multi-policy bundling
- Generational
- Loyalty
- Smart home
We surveyed 1,000 consumers in April 2025 to ask about their satisfaction with renters insurance providers. Of those participating in our survey, around 29 had a policy with American Family.
All survey participants with renters insurance from American Family reported being satisfied with the provider. Policyholders noted affordable costs, customer service, policy bundling options and useful coverage as their top reasons for satisfaction.
USAA offers coverage exclusively to military members, veterans and their families. Its standard policy covers everything you’d expect from renters insurance, plus it includes flood and earthquake protection at no extra cost, which other insurers may only offer as endorsements. Data from the National Flood Insurance Program shows that 32% of standalone flood insurance policies cost between $1,000 and $2,000 per year, so USAA can offer some big savings.
USAA also offers military-specific benefits such as automatic war coverage, which protects your belongings damaged due to war outside the U.S. The insurer will cover replacements with no deductible for items such as your uniform, flight case or personal body armor.
Website advertises costs for as little as 33 cents per day
Includes flood and earthquake insurance with its standard policy
Offerings are tailored for military members
Must be an eligible service member or family of a service member to qualify
May be more expensive than average for those with poor credit or a claims history
We found that the average cost of a renters insurance policy from USAA is $14 monthly, which is a dollar less than the national average.
For budget shoppers, those shopping for a standard policy and those looking for premium coverage, USAA renters insurance costs less than the national average. It’s also cheaper for those with excellent credit and military status. Use the table below to compare costs between USAA and the national average for varied customer profiles:
| Customer Type | USAA Average Cost | National Average Cost |
|---|---|---|
| Has a Claims History | $19.01 | $17.40 |
| Has Poor Credit | $33.52 | $24.16 |
| Has Excellent Credit | $10.23 | $12.32 |
| Has Military Status | $13.24 | $13.92 |
USAA Renters Insurance Discounts
USAA offers the following discounts on renters insurance policies:
- Bundling discount
- Claims-free discount
- Protective devices discount
- Living on a military base discount
- Service academy discount
- Military college discount
To better understand how real customers perceive renters insurance companies, we conducted a survey of 1,000 policyholders in April 2025. Among survey participants, 56 held a policy with USAA.
When asked about their level of satisfaction, almost 96% of respondents with a USAA policy said they were satisfied with the company. These policyholders cited USAA’s affordable costs, useful coverage, policy bundling options, and customer service as their top reasons for satisfaction. Those dissatisfied with the company mentioned denied claims and poor customer service as the primary reasons.
We gave State Farm the superlative of Best Customer Experience for its high satisfaction rates, both from our survey and J.D. Power studies, and because it offers multiple channels for filing claims, as well as 24/7 customer service. State Farm also has comprehensive coverage and affordable costs.
State Farm’s expansive network of insurance agents can also provide a personal touch if you have questions or want to avoid online-only enrollment. The provider also offers a wide range of deductible options, allowing you to customize insurance coverage and monthly costs.
Offers add-on coverages for pets and waterbeds
Features lower prices than all other competitors in this review
Online tool helps calculate personal property coverage needs
Cheaper policies only offer minimal renters coverage
Cost can increase quickly if you add policy endorsements
Based on our research, the average cost for a renters insurance policy from State Farm is $11 per month. This is 29% cheaper than the national average.
State Farm’s rates are cheaper for virtually all customer types, including military members, those with a claims history and more. Learn more about the company’s average costs compared to the national average below.
| Customer Type | State Farm Average Cost | National Average Cost |
|---|---|---|
| Budget Shopper* | $8.26 | $11.53 |
| Standard Shopper** | $10.63 | $14.91 |
| Premium Shopper*** | $22.88 | $25.02 |
| Has a Claims History | $12.19 | $17.40 |
| Has Poor Credit | $21.92 | $24.16 |
| Has Excellent Credit | $8.74 | $12.32 |
| Has Military Status | $10.67 | $13.92 |
*Budget Shopper has $15,000 in personal property and a $2,000 deductible
**Standard Shopper has $25,000 in personal property and a $500 deductible
***Premium Shopper has $75,000 in personal property and a $250 deductible
State Farm Renters Insurance Discounts
State Farm customers can add the following extra coverages to add to their renters insurance policy:
- Earthquake damage
- Identity restoration
- Personal liability umbrella policy
- Pet medical insurance
To gain a comprehensive understanding of what consumers like you think of renters insurance companies, we surveyed 1,000 respondents with policies in April 2025. Of these participants, around 365 had a policy with State Farm.
We found that over 97% of participants with a State Farm policy were satisfied with the company. These policyholders noted State Farm’s affordable costs, useful coverage and customer service as top reasons for their satisfaction. Those dissatisfied with the company selected high costs and unsatisfactory coverage as the primary reasons.
Nationwide stands out as the best for customizable coverage due to its wide range of optional add-on protections. For example, you could claim food spoilage during a power outage. According to the U.S. Department of Agriculture, a family of four on a moderate food budget could spend over $300 weekly on groceries. With Nationwide, you could recoup lost food costs after a blackout and replace items in your fridge. Other coverages include protections for watercraft, money, credit cards, trailers and more.
Features the most endorsements of any provider on our list
“Brand New Belongings” add-on covers damaged or lost items at replacement cost value
Offers comprehensive additional coverage for valuable items
Online quote tool requires you to select multiple types of coverage
Limited discount opportunities compared to many other top insurers
According to our research, the average cost of a renters insurance policy from Nationwide is $15, which is the same cost as the average premium nationally.
In the table below, find a comparison of the insurer’s average costs against the national average for a variety of customer types:
| Customer Type | Nationwide Average Cost | National Average Cost |
|---|---|---|
| Has a Claims History | $20.42 | $17.40 |
| Has Poor Credit | $23.59 | $24.16 |
| Has Excellent Credit | $13.84 | $12.32 |
| Has Military Status | $14.72 | $13.92 |
Nationwide Renters Insurance Discounts
Nationwide offers the following discounts on renters insurance policies:
- Multi-policy discount
- Protective device discount
- Claims-free discount
In our April 2025 survey of policyholders with renters insurance, around 46 respondents were customers of Nationwide. This survey helped our team better understand the positives and negatives associated with the company.
Our results show that 100% of participants with Nationwide renters insurance were satisfied with the provider. Policyholders cited Nationwide’s customer service affordable costs and useful coverage options as key factors related to satisfaction.
Compare The Best Renters Insurance
Below, see how the top renters insurance companies compare on key factors and decide which provider best fits your needs.
The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.
| Provider | Best For | Monthly Cost | J.D. Power | |
|---|---|---|---|---|
|
Best for Most Renters
|
$13.60
|
682/1000
|
||
|
Best for College Students
|
$15.33
|
660/1000
|
||
|
Best for Military Families
|
$13.66
|
724/1000
|
||
|
Best Customer Experience
|
$10.63
|
679/1000
|
||
|
Best for Customizable Coverage
|
$15.35
|
627/1000
|
| Provider | Best For | Monthly Cost | J.D. Power | |
|---|---|---|---|---|
|
Best for Most Renters
|
$13.60
|
682/1000
|
||
|
Best for College Students
|
$15.33
|
660/1000
|
||
|
Best for Military Families
|
$13.66
|
724/1000
|
||
|
Best Customer Experience
|
$10.63
|
679/1000
|
||
|
Best for Customizable Coverage
|
$15.35
|
627/1000
|
How To Choose the Best Renters Insurance Company
Finding renters insurance can feel intimidating when you don’t know where to start. Consider our recommendations on how to get renters insurance and find the policy that will give you the coverage you need to feel confident in the event of a loss.
Understand Pricing and Compare Quotes
While renters insurance is a wise and often required investment, you don’t want to break the bank on coverage. According to our 2025 survey, 72% of renters feel that cost is the most important factor when selecting a provider. To better understand how much you should expect to pay for renters insurance and avoid signing up for an overly expensive policy, find your state in the table below.
Costs are monthly and based on a $500 deductible.
| State | Average Premium | Cheapest Provider | Cheapest Provider Average |
|---|---|---|---|
| Alabama | $19.18 | Cincinnati Financial Insurance | $11.99 |
| Alaska | $13.15 | Allstate | $6.52 |
| Arizona | $16.25 | USAA | $11.55 |
| Arkansas | $17.30 | Farm Bureau | $9.75 |
| California | $15.55 | AAA | $9.37 |
| Colorado | $13.81 | Auto Owners | $6.94 |
| Connecticut | $19.18 | Allstate | $8.37 |
| Delaware | $9.91 | State Farm | $7.54 |
| District of Columbia | $15.77 | USAA | $8.42 |
| Florida | $13.91 | Security First | $8.77 |
| Georgia | $17.28 | Farm Bureau | $8.84 |
| Hawaii | $14.84 | State Farm | $11.08 |
| Idaho | $11.70 | Oregon Mutual | $6.50 |
| Illinois | $16.18 | State Farm | $8.28 |
| Indiana | $16.04 | USAA | $7.54 |
| Iowa | $10.53 | Auto Owners | $7.09 |
| Kansas | $14.86 | State Farm | $9.44 |
| Kentucky | $14.56 | USAA | $9.25 |
| Louisiana | $21.85 | The Hanover | $12.63 |
| Maine | $12.55 | State Farm | $6.67 |
| Maryland | $19.05 | State Farm | $12.45 |
| Massachusetts | $16.16 | Merrimack Mutual | $11.03 |
| Michigan | $18.34 | Auto Owners | $2.71 |
| Minnesota | $12.47 | AAA | $6.08 |
| Mississippi | $21.04 | USAA | $9.64 |
| Missouri | $14.60 | USAA | $8.11 |
| Montana | $14.23 | State Farm | $7.57 |
| Nebraska | $14.69 | State Farm | $6.83 |
| Nevada | $16.25 | USAA | $11.31 |
| New Hampshire | $11.91 | Amica | $5.83 |
| New Jersey | $13.81 | State Farm | $6.92 |
| New Mexico | $11.19 | State Farm | $7.81 |
| New York | $13.32 | NY Central Mutual | $9.77 |
| North Carolina | $15.30 | Farm Bureau | $8.84 |
| North Dakota | $9.85 | Allstate | $7.17 |
| Ohio | $15.44 | Grange Mutual | $8.33 |
| Oklahoma | $18.01 | State Farm | $11.38 |
| Oregon | $13.93 | State Farm | $9.80 |
| Pennsylvania | $15.06 | Pennsylvania National Mutual | $5.69 |
| Rhode Island | $12.10 | Amica | $7.18 |
| South Carolina | $15.87 | Chubb | $6.20 |
| South Dakota | $10.43 | State Farm | $6.83 |
| Tennessee | $15.09 | State Farm | $11.08 |
| Texas | $15.35 | Chubb | $5.60 |
| Utah | $12.45 | State Farm | $8.41 |
| Vermont | $10.05 | State Farm | $7.42 |
| Virginia | $14.71 | Chubb | $7.18 |
| Washington | $12.62 | State Farm | $9.17 |
| West Virginia | $12.51 | State Farm | $9.42 |
| Wisconsin | $9.86 | West Bend Insurance | $6.00 |
| Wyoming | $9.57 | USAA | $7.88 |
Because personal factors like your credit score, claims history, deductible and coverage amounts can impact your premium, we recommend getting renters quotes from at least three providers before making a final decision.
Look for Comprehensive Coverage
A basic renters insurance policy covers the following four areas:
Personal property coverage protects your belongings against damage or loss from covered events like fire, theft, vandalism, and more. This coverage typically applies whether your items are inside your rental or temporarily outside, such as in your car or a storage unit. Insurers may reimburse you based on the replacement cost of your items or the actual cash value, which will also account for depreciation.
Personal liability coverage pays legal fees and medical bills if you’re responsible for property damage or personal injury. This coverage may have exclusions, however, so we recommend reading a sample contract and understanding any coverage limitations before purchasing a policy.
Loss of use coverage pays for additional living expenses such as a hotel room or extra fuel if you’re displaced from your home after a covered event. You may also find this coverage called “additional living expenses coverage” in your policy documents.
Medical payments for others cover care-related bills if a guest is injured in your rental unit or home. Some examples include covering the cost of hospital stays, emergency room visits, ambulance rides, X-rays and more. However, coverage does not extend to legal fees if you’re sued due to an accident in your home.
All providers will cover the areas mentioned above, but the policy add-ons or endorsements available will differ. You’ll want to consider whether a provider offers add-ons that are important to you, such as earthquake or identity theft protection.
According to our April 2025 survey of 1,000 renters, the most popular coverage add-ons are valuable personal property (like jewelry and electronics), flood insurance and identity theft protection.
Additionally, you will want to think about how comprehensive you want your coverage to be, which boils down to whether you want actual cash value or replacement cost coverage. ACV pays the depreciated value of lost or damaged property, while RCV pays the value of a new, equivalent item without depreciation.
Consider Third-Party Reviews and Ratings
You can’t fully experience a provider’s customer service or claims process before buying a policy. However, you can read through third-party ratings through the Better Business Bureau, AM Best and J.D. Power to get a sense of how a company treats customers during times of need and whether it is financially secure enough to handle large payouts. You can also try calling the company and speaking with a representative to get an idea of wait times and service quality.
AM Best is a global credit agency specializing in the insurance industry. Using a scale of A++ to F, it rates providers’ creditworthiness as an “evaluation of balance sheet strength, operating performance, and business profile,” according to the company’s rating methodology. J.D. Power describes itself as a global leader in consumer insights, advisory services and data analytics. It publishes an annual study scoring renters insurance providers on overall customer satisfaction out of a scale of 1,000. The 2024 segment average is 659.
“Renters insurance policies are much more straightforward to buy than homeowners insurance. The two biggest decisions you might make are how much your belongings are worth if you had to replace them all at once, and how much liability coverage you need if someone is injured in your apartment or it’s your fault.”
In April 2025, we conducted a survey of 1,000 renters with coverage from our top-rated providers. The chart below outlines the most common reasons respondents gave for being satisfied with their current renters insurance provider.
The Best Renters Insurance for Four Typical Situations
Renters insurance can offer financial and legal protection in a variety of situations. Here are some real-life scenarios in which renters insurance can give you valuable protection and peace of mind.
Best Renters Insurance for Pet Owners
Whether you own a cat, dog or other furry companion, standard renters insurance policies generally cover damage caused by your pets. Most policies cover $100,000 to $300,000 in liability coverage, with the pet owner responsible for any excess damages. For renters with cats or dog breeds not commonly associated with aggression, Lemonade is the best option due to the opportunity to bundle with pet insurance and save.
Note that many providers won’t cover dogs with a history of biting and exclude certain breeds with a reputation for aggression, such as Rottweilers, pit bulls, Dobermans and Chow Chows. If your dog fits into one of these categories, consider finding an insurer that does not ban certain breeds or working with an agent to find a policy that meets your pet-related needs. For renters with breeds generally thought to be more dangerous, we recommend State Farm, as the insurer does not ban any dog breeds from renters coverage.
Best Renters Insurance With a Roommate or Partner
If you live with roommates or a partner, you may have a choice between getting your own renters insurance policy or saving money by sharing a policy. Some states and providers only allow renters who are related to share a policy, while some will allow anyone to split coverage. Typically, non-familial roommates will need to purchase separate policies, but there can be exceptions for renters in a relationship. For those living with a significant other, we recommend getting coverage with Lemonade, because it allows you to add a significant other to your policy for just a few extra dollars per month.
Best for High-Value Items
Standard renters insurance policies often enforce sub-limits of $1,500 to $2,500 on valuable items, such as jewelry, watches and furs. If you have luxury items that exceed these standard per-item limits, you can “schedule” each separately for more coverage. For example, if you own a painting you scheduled for $15,000 and that painting is stolen, your insurance company may send a check for the full $15,000 minus your deductible after reviewing your claim. We recommend Nationwide, since it offers a high-value coverage add-on.
Best for Renters in a High-Risk Area
You may pay higher rates for renters insurance if you live in an area prone to natural disasters like tornadoes, hurricanes or earthquakes, or in an area with elevated theft risk. Rates can also increase if you live in a rural area far away from a fire station. In these circumstances, we recommend you get quotes from different providers for the best rates and coverage options.
If a provider denies you coverage, you can contact your state insurance department and look into Fair Access to Insurance Requirements plans. The best provider for those living in high-risk areas may be local insurer options that are more familiar with the challenges faced in your area.
Is Renters Insurance Required?
Rental insurance is not required by law in any of the 50 U.S. states, based on our research. However, you may need to purchase a policy as part of your lease agreement or your landlord’s requirements.
If your landlord doesn’t require you to purchase a policy, you can forego coverage. However, we recommend considering whether you have the funds to cover the kind of losses and damage a rental insurance policy would.
If your belongings were stolen or damaged during a break-in, do you have the funds to repair and replace those items? If a visitor is injured, could you pay for their medical expenses and legal bills if they sue you? Asking yourself these questions can help you better discern whether the cost of rental insurance is worth adding to your budget.
Best Renters Insurance Companies: FAQ
Below, we answer some common questions about finding the most affordable and best renters insurance:
Typically, the deductible for renters insurance ranges from $250 to $2,500. The higher the deductible, the lower the monthly payment, but the more expensive the out-of-pocket costs if you need to file a claim.
Typically, a standard renters policy does not include flood coverage. Flood insurance for renters is available through the National Flood Insurance Program and many private flood insurers. You can obtain quotes through a local insurance agent.
According to our 2025 survey of 1,000 rental insurance policyholders, the most common claims were related to water damage, theft and fire.
Methodology: Our System for Ranking the Best Renters Insurance Companies
How We Gather Cost Data
*Data accurate at time of publication
