The 6 best renters insurance companies of August 2022

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Whether you’re renting a studio apartment or an entire single-family home, renters insurance covers what your landlord’s policy does not. If a fire destroys your rented home, renters insurance could cover your personal belongings and valuables. If someone sues you for injuries on your property, renters insurance will make sure you’re covered.

The average renter’s insurance policy costs between $15 and $20 per month. You could get additional savings by bundling your renters insurance policy with car insurance or other types of insurance. Insider gathered data from several renters insurance companies based on customer service and premium prices where available. We base our sample quotes on data for two people renting a two-bedroom, one-bath, single-family with no pets in Philadelphia.

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Best for cheapest renters insurance: State Farm Renters Insurance

State Farm is an established insurance company that receives high marks for customer and claims satisfaction.

Read more: Best renters insurance companies in 2022

According to the Insurance Information Institute, the average renters insurance cost $174 per year or $14.50 per month. According to Insurify, State Farm is priced at $10 a month which is significantly more affordable than the national average. However, your renters insurance will be based on a number of factors like where you live.

Read our State Farm insurance review here.

Visit State Farm’s renter insurance website to learn more.

Best renters insurance overall: Lemonade Renters Insurance

Lemonade is an easy-to-use digital platform provider that offers affordable coverage. Lemonade isn’t available in all states, but it has good ratings for customer service where available.

According to the Insurance Information Institute, the average renters insurance cost $174 per year or $14.50 per month. According to Insurify, Lemonade starts at $5 a month which is significantly more affordable than the national average. However, your renters insurance will be based on a number of factors like where you live.

Read more: Millennial Specialty Insurance

Read our Lemonade insurance review here.

Visit Lemonade’s renters insurance website to learn more.

Best for discount opportunities: Erie Renters Insurance

Erie only operates in 12 states plus Washington, D.C. It won’t make sense for everyone, but it does have a reputation for good customer service and claims satisfaction in the regions where it does operate. Erie Insurance is known for its low prices across the board, however, it also offers a number of discounts to curtail your premiums even further.

According to the Insurance Information Institute, the average renters insurance cost $174 per year or $14.50 per month. According to Insurify, Erie starts at $15 a month which is on par with the national average. However, your renters insurance will be based on a number of factors like where you live.

Read our Erie Insurance review here.

Read more: Roost Renters Insurance Reviews Top 3 List

Visit Erie’s renters insurance website to learn more.

Best for senior renters: Allstate Renters Insurance

Allstate is a national carrier that ranks well for customer service, but its insurance premiums aren’t always the cheapest. However, Allstate has a discount that allows renters who are 55 years or older to enjoy 25% of their premiums.

According to the Insurance Information Institute, the average renters insurance cost $174 per year or $14.50 per month. According to Insurify, Allstate starts at $15 a month which is on par with the national average. However, your renters insurance will be based on a number of factors like where you live.

Read our Allstate insurance review here.

Visit Allstate’s renters insurance website to learn more.

Best for business professionals: Farmers Renters Insurance

Through this article, we hope to help you understand Roost renters insurance reviews

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