10 Best Cheap Renter’s Insurance Companies 2017

You need to take a look at the 10 Best Cheap Renter’s Insurance Companies for 2017 if you are renting a home or apartment. Rates change from year to year and the best deal last year may not be the best one this year. Moreover, if you haven’t had renter’s insurance in the past then now is the time to get it. Remember, while your landlord may have an insurance policy, it only protects their property, not yours. This list will help you find cheap renter’s insurance rates so check it out.

Liberty Mutual

Liberty Mutual has renter’s insurance that covers fire, theft, and even some water damage. They also include liability coverage in case someone sues you. Their coverage extends to even personal property in your car. They have a good smartphone coverage add-on that protects your smartphone in case of damage or theft. It’s has a $50 deductible which makes it much better than the protection plans offered by cell companies.

Liberty Mutual has many different online tools available to help you manage your renter’s insurance policy. They allow you to modify your policies so that it fits your insurance needs. They have many discounts like group savings. If you are in one of their groups, then you save money on your policy every month.

Geico

Yes, Geico is more focused on auto insurance than they are on renter’s insurance, but they do have decent policies for renters at cheap rates. Your Geico policy will cover different named perils like fire, vandalism, theft, and others. Add-on coverage is available for high-value items like jewelry and electronics. If you are selling online, the Business Merchandise add-on protects inventory stored in your home.

Installing a home security system and additional smoke alarms can help you get a discount on your policy as does having more than one policy with Geico. The personal property calculator allows you to see just how much coverage you’ll need so you don’t needlessly pay more your renter’s insurance.

American Family Insurance

American Family has a strong reputation for home insurance. They’ve got the experience to protect your belongings from a myriad of threats. They know how important your possessions are. They offer not just the typical renter’s coverage, but they also provide add-ons like identify theft protection so you are protected if someone steals your identity.

American Family provides many different avenues to save money on your policy. If you install proactive security and protection systems, you’ll see a savings on your monthly bill. You can also sign up for paperless billing and autopay to save even more every month. Your American Family agent can teach you how to limit your losses and get the claim free discount.

State Farm

State Farm is one of the largest providers of renter’s insurance in the US. They may not have the cheapest renter’s insurance rates, but their rates are very competitive and their claims service is highly rated. Working with a State Farm agent, you can select the coverage that you need based on your personal property and your type of housing.

Discounts help to bring down the rates on State Farm insurance policies. They offer policy discounts for having a home alert system and work with different home security system providers to give special deals for their policyholders. They also offer different deductibles to meet different budget needs.

Esurance

Esurance is the cut-rate online arm of Allstate. They have recently moved into renter’s insurance and have some of the cheapest rates. Quotes are quick and easy and customers have coverage in minutes right their own home. Coverage is fairly typical for renter’s insurance. Additional add-ons can be added to cover higher value items.

They extensive tutorials on their site to help people understand what the insurance covers and how to get the best rates. They can use the information to determine if they need additional coverage. Discounts for bundling and for installing home alert systems are available.

Nationwide

Nationwide has been providing renter’s insurance for many years and has gained a solid reputation as having quality service with competitive insurance rates. They offer a fairly typical renter’s insurance policy with a couple of added benefits. Instead of just replacement cost, they replace your damaged items with brand new replacements.

They have several good discounts available. They have a special discount if you have certain protective devices installed in your home. They give a hefty discount if you are claims free. They also “stay on your side” with regular reviews with a Nationwide agent to ensure your coverage is keeping pace with your life.

USAA

USAA renters insurance is available only to USAA members. Membership is limited to active duty, retired, and honorably discharged members of the military and their dependents. By limiting their insurance pool, they can provide the best cheap renter’s insurance rates to their members.

Their renter’s policy covers all the typical coverages like fire, theft, and vandalism. Members can add on additional coverage like jewelry coverage, but typical add-ons like identify protection and full replacement cost are included in their policies. Even floods are covered with their renter’s insurance.

Farmers Insurance

Farmers Insurance is a solid renters insurance company. They have been in business for nearly 100 years and have a history of good claims resolution. The standard coverage includes liability, personal belongs, and additional living expenses. Add-ons for Identity Shield and Replacement Cost are available.

To make things easier for you, online quotes are quick and easy and policies can be purchased right online. If you need the personalized assistance of an agent, you can get that as well. It’s your choice.

Progressive

Progressive is one of the large auto insurers that also provides renters insurance for their auto customers. Their policies cover all the major threats to your personal property including theft, fire, vandalism, and personal liability. The policy is very basic in what it covers, but it’s comprehensive enough.

Progressive policies are usually some of the cheapest insurance and their renter’s policy is no exception. They offer a discount on the policy if you have your car insurance with them,

Erie Insurance Group

The Erie Insurance Group doesn’t offer renter’s insurance in every state. In fact, they only provide it in 12 states, but in the states that they are available in, they can be a good choice. They offer cheap tenant rates combined with high ranking service. They have three tiers of coverage in addition to their standard ErieSecure Tenant Policy.

They sell their policies through a network of independent agents who can provide personalized service that helps you get just the coverage that you need. By not carrying more insurance than necessary, you can save money.

You can find the renter’s insurance policy you need to protect your home or apartment. This guide to the 10 Best Cheap Renter’s Insurance Companies for 2017 is your guide to finding the policy you need at the price you can afford to pay.

Related: Compare Renter’s Insurance Rates