How to Get Renters Insurance

Use our tips to streamline your search for a renters insurance policy.

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How to get affordable renters insurance fast

Although renters insurance is not required by federal or state law, it’s a good investment and a solid way to protect your assets. Renters insurance is generally fairly affordable: $5 to $10 per month, on average. Plus, most landlords require you carry it in order to satisfy your lease agreement. If you’re not sure how to get renters insurance, we’ll explain some easy-to-follow instructions, tips, and rates to expedite your shopping experience.

  1. Information you need for a renters quote
  2. Cheapest renters insurance companies
  3. Additional resources

 

How to get a renters insurance quote

Our first recommendation is to get renters insurance quotes. Only by comparing rates from as many companies as possible can you ensure you get the best coverage at the cheapest price. We first recommend shopping with the company with which you insure your car. Keep in mind, this company won't always be your cheapest option. 

Although there are many instances in which your renters insurance is cheaper than your auto policy, not every major car insurance company sells renters insurance. Many large insurance companies use subsidiaries to write and sell their renters policies.  

Information you need to get a renters insurance quote:

  • Basic personal information for you and anyone living with you
  • Your address
  • Inventory of personal belongings — especially anything of particular value (see below)
  • Desired coverage level (see "How Much Coverage Do I Need?")
  • Basic aspects of your apartment or home:
    • Burglar or fire alarm
    • Sprinklers
    • Heating and AC
    • Building type
  • Pet information: whether you have a dog, and if so, which breed


How much renters insurance coverage do I need?

While you can find a much more in-depth answer here, we’ll outline some general information to keep in mind while you’re shopping for renters insurance. Most renters insurance companies will limit how much personal property coverage you have for items of high value. Before you start comparing rates, walk through your home and take inventory of your possessions — especially anything expensive or difficult to replace. If you have any of the items below, consider raising your coverage level.

Sub-limit

Property

Limitations

$200

Money, gold, coins

 

$1,500

Jewelry, watches, furs

Theft only

$1,500

Watercraft, trailers

Theft only

$2,500

Firearms

 

$2,500

Silverware

 

$2,500

Business property

On-premises

$500

Business property

Off-premises

Varies

Electronics

 

For a person in their 20s living alone, we recommend the following coverage levels:

  • $15,000 to $25,000 of personal property coverage
  • $100,000 of liability coverage
  • $1,500 of portable electronic coverages
  • $1,000 of medical bills/payments to others (minimum amount required)
  • Minimum coverage for loss of use

 

How to save on renters insurance

Unlike auto insurance, there are not many cost-cutting solutions for renters insurance. One reason your policy might be too expensive is if you’re with the wrong company. The cheapest renters insurance providers are not synonymous with the cheapest car insurance providers. 

In addition to the big companies listed below, we also recommend Lemonade Insurance. Only providing renters coverage, Lemonade offers a quick quoting process and affordable rates across the US. On average, Lemonade's renters rates range from $5 to $10 per month. Click here or below for a hassle-free Lemonade quote.


Below are average rates from top auto and renters companies in the US. Bear in mind, the rates below are for renters policies only — you can expect a slightly discounted rate if you bundle your auto coverage.

Insurance ProviderAnnual Renters Insurance Cost
Allstate$187
American Family$156
Farmers$181
Liberty Mutual$285
MetLife$188
Nationwide$236
State Farm$140
USAA$128

If you'd like a competitive quote for renters coverage, call 1-855-493-9138 and we can help get you covered. Need more information? Check out our resource pages below.


Call us at 855-493-9138 for renters quotes