The list of cheapest renters insurance in USA will be here discussed and duly identified for the benefit of you including those who maybe are far away and locked within the American shores, and as so, are looking for what insurance plans in order to buy to have their properties protected from unwholesome events.
It is not surprising that anyone who rents an apartment, condo, townhome, or other type of dwelling should seriously consider getting renters insurance. Renters insurance covers a tenant’s personal property if it’s damaged or destroyed during a break-in, a storm, or another event specified in the policy. In addition, renters insurance provides coverage for personal liability and medical bills if you have a guest over and they’re injured. Finally, if there’s a fire or other catastrophic event that forces you to move out of your unit, renters insurance will cover your extra living expenses, such as hotel bills and meals out.
Unlike some other types of insurance policies, renters insurance is relatively simple. But there are some nuances when it comes to selecting a policy and insurance company, which is where this guide comes in. Below, we’ll list our top-rated renters insurance companies of 2022 and provide more information on how renters insurance works.
List of Cheapest Renters Insurance in USA.
Renting a place, you can only be rest assured that your landlord’s insurance only protects their building, but not the property you have in it or anything that reaches your apartment if you may be the cause. Same way in the event of an accident, your landlord cannot be held financially responsible for any damage to your belongings. This is why the renters insurance is designed to protect what you have in the building rather than the whole building in itself.
Contents such as Theft, Living expenses, Injury to guests, etc. are protected by the renters insurance you buy. For affordability and confidence on whether how much you should protected you feel about your rented apartments and property in them, here are the list of cheapest renters insurance in USA you should by. You can only find these so-much acclaimed cheapest renters insurance plans or policies in the following US companies:
1. USAA
First on the list of cheapest renters insurance in USA is USAA which is available in all the fifty states of America. Though is renters insurance from USAA is limited to members of the U.S. military whether in active duty or retired including their immediate family members, yet they are said to be very affordable. A standard policy from USAA provides coverage for your personal belongings, temporary living expenses should your home become uninhabitable due to a covered event as well as liability and medical liability should someone become injured in your home. USAA’s standard policy also includes flood coverage.
2. Erie Insurance
Erie insurance was founded in 1925. It is considered among the list of cheapest renters insurance in USA. This company is based in Erie, Pennsylvania. It’s probably best known for its auto and leisure insurance, but it also offers renters, homeowners, property, life, and business insurance at affordable rates ever. Erie Insurance sells relatively low-cost insurance in the mid-Atlantic and Midwest regions through 13,000 independent agents.
3. American Family
Just like its name, the American Family, it is situated in Madison, Wisconsin-USA. American Family gives cheaper policies on car insurance, homeowners insurance, and renters insurance, along with life insurance and other types of policies. It has agents in 19 states and serves the entire country through affiliates The General and Homesite. American Family offers a wide selection of renters insurance add-ons, like travel insurance, pet insurance, as well as coverage for home businesses and identity theft.
4. State Farm
Located in Bloomington, Illinois, State Farm started out selling auto insurance and now sells renters insurance and about 100 other products which are rated in all of America as one of the list of cheapest renters insurance in USA. More people have car insurance and homeowners insurance with State Farm than with any other provider in the U.S., to the tune of more than 84 million policies and accounts. State Farm has a large network of agents and consistently high customer service ratings. It also now offers pet insurance through its partner Trupanion.
5. Farmers
This also is a very popular platform which can be included in the list of cheapest renters insurance in USA. Founded in 1928, Farmers Insurance currently sells insurance policies of various types to more than 10 million households. Riders can be added to a Farmers policy to include coverage for identity theft, home improvements, and even mold. It offers highly customizable policies, as well as discounts for households that have been smoke-free for at least two consecutive years or have an approved security system or fire alarm. Doctors, nurses, engineers, dentists, teachers, police, and firefighters may also be eligible for discounts.
6. Allstate
Being one of the largest publicly held personal lines insurer with over 16 million customers and being one in the list of the cheapest renters insurance in USA, Allstate is available in all 50 states and Washington, D.C. The insurance company was founded in 1931 as a mail-order auto insurance company, while Robert E. Wood was its president and of course the board Chairman of Sears, Roebuck & Co. Based in Northbrook, Illinois. The company offers add-ons to the standard renters insurance policy, including a personal umbrella policy which helps protect you from large liability claims, and personal property coverage.
7. Nationwide
Popular from Columbus, Ohio, Nationwide Mutual Insurance Company is one of the largest insurance, financial services firms and one of the list of cheapest renters insurance in USA. It features many types of insurance for individuals and companies, including auto, life, pet, homeowners, and business insurance, as well as financial products like mutual funds. Nationwide employs some 30,000 people throughout the U.S. and can provide insurance quotes and policies online or through an agent.
8. Liberty Mutual
As one of the best on the list of cheapest renters insurance in USA, Liberty Mutual is historically believed to have started in 1912, and it is based in Boston, America. It has one of the largest global property and casualty insurers in the US. Its renters insurance premiums start as low as $5 a month, and it provides the option of replacement cost coverage. In addition to renters insurance, it offers auto, homeowners, commercial, workers’ compensation, general liability, surety, and commercial property insurance, as well as specialty insurance lines.
9. Lemonade
Lemonade is one of the cheapest companies in the world and especially in the USA. It also has a very perfect policy for college students who may be looking for cheap renters insurance for their apartment. This big insurance company was founded in 2015, Lemonade is among a new crop of online-only startups companies aiming to disrupt the insurance space. The company puts a strong emphasis on its customers, staying connected with them through an active brand presence and an awesome mobile app. Additionally, Lemonade gives your buying decision purpose by donating unused insurance money to charities through its giveback program.
