Richmond Renters Insurance

The Zebra
July 23, 2019

Richmond, Virginia renters insurance


Renters insurance is a key coverage if you’re renting an apartment or house. Renters insurance covers your rental unit — and the personal property within it — against a variety of harms, including fire, theft, vandalism, and wind damage. Given the reasonable likelihood of a damaging incident, the affordability of a renters policy, and the relatively high cost of replacing your property, a renters insurance policy is a solid investment.

The cost of renters insurance relies on 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 Richmond is $173.

Finding reliable renters insurance in Richmond begins with shopping around and comparing policies. Check out our breakdown of Richmond renters insurance premiums to begin your search with as much background info as possible. Remember: renters insurance costs may vary based on your coverage limits and other factors.


Richmond renters insurance:

  1. Rates by company
  2. Rates by coverage level
  3. Auto and renters insurance discounts

Renters insurance costs in Richmond — popular companies

How much you pay for renters insurance in Richmond depends on the insurance company providing the quote. For instance, Safeco offers the most affordable renters insurance in Richmond, at just $90 per year. That's less expensive than the city's average cost of $173, providing an $83 discount on typical rates in the city.

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


AFFORDABLE RENTERS INSURANCE COMPANIES IN RICHMOND
CompanyAverage Annual Rate in Richmond
Safeco$90
Erie$112
Travco$127
Allstate$141
State Farm$147

Richmond renters insurance pricing by coverage tier

The cost of your renters insurance policy will be influenced by the amount of coverage you opt to carry. Common renters insurance coverage tiers are $25,000 and $50,000 property coverage. In Richmond, the annual cost differential between these levels is roughly $68. If you can afford to insure your personal property at this additional expense, it's an option worth considering.

Coverage LevelAverage Annual Rate in Richmond
$25K Property$139
$50K Property$207

How to save: bundle your renters and car insurance policies

If you’re looking to cut your insurance expenditures, purchase your renters and auto policies from the same company. Pairing renters and car insurance in Richmond can save you a substantial sum each month on your auto insurance bill. In fact, bundling renters and auto insurance leads to average savings of 4.5% on car insurance rates. The auto insurer offering the most affordable rate with a renters bundle is USAA, followed by Erie and GEICO.


RENTERS AND AUTO INSURANCE BUNDLING SAVINGS IN RICHMOND
Annual Bundle SavingsBundle Savings %
$444.5%

Need renters insurance? Talk to an expert today.