Madison Renters Insurance

The Zebra
July 23, 2019

Renters insurance in Madison


Renters insurance is important if you're renting a house or an apartment. The coverage protects against a variety of harms, such as theft, fire, vandalism, or wind damage. Given the likelihood of one of these incidents, the affordable price of a renters policy, and the potentially high cost of replacing your belongings, a renters insurance policy is a solid investment.

Renters insurance rates are dictated by a number of factors, including the age of your dwelling, the materials of which it’s made, your apartment’s geographic location, and the pricing strategies of your renters insurance company. In areas in which fire, lightning, wind, or hail are common, renters insurance could be more expensive.

The average yearly price of renters insurance in Madison is $116.

Finding reliable renters insurance in Madison should start with a thorough review of the top renters insurance companies. Consult our breakdown of Madison renters insurance costs to ensure you start your search with as much background info as possible. Remember: rates may vary based on your coverage limits and other factors.


Madison renters insurance:

  1. Rates by company
  2. Rates by coverage level
  3. Renters and auto insurance discounts

Renters insurance costs in Madison — top companies

Renters insurance rates in Madison depend on the insurance company providing the quote. For instance, Erie offers the most affordable renters insurance in Madison, at just $69 per year. This compares favorably to the city's average cost of $116, providing a $47 discount on typical rates in the city.

Start your search for a renters insurance policy by reviewing the cheapest companies in Madison.


AFFORDABLE RENTERS INSURANCE COMPANIES IN MADISON
CompanyAverage Annual Rate in Madison
Erie$69
Safeco$79
Rural Mutual Insurance$82
AAA$97
American Family$104

Madison renters insurance pricing by coverage level

Your renters insurance rates will vary depending on your coverage levels. Two of the most common levels of renters insurance coverage are $25,000 and $50,000 property coverage. In Madison, the annual cost differential between these options is approximately $43. If you can afford the up-front expense, it's an option worth considering.

Coverage LevelAverage Annual Rate in Madison
$25K Property$95
$50K Property$138

Money-saving tip: bundle your renters and car insurance

If you’re looking to cut your insurance expenditures, purchase your renters and auto policies from the same insurance company. Bundling renters and car insurance in Madison can result in substantial savings. In fact, bundling renters and auto insurance leads to average savings of 7.6% on car insurance rates. The auto insurance company offering the most affordable rate with a renters bundle is GEICO, followed by American Family and Acuity.


CAR AND RENTERS INSURANCE BUNDLE SAVINGS IN MADISON
Annual Bundle SavingsBundle Savings %
$747.6%

Need renters insurance? Talk to an expert today.