Best Renters Insurance Companies

Protect your property with renters insurance

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Rental Insurance

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According to the National Multifamily Housing Council, 36% of households today are renter-occupied. While your landlord may have separate insurance to cover your apartment, that coverage doesn't necessarily extend to your personal belongings or your liability if someone gets hurt at your home—if your dog bites someone at the rental property, for example.

To protect yourself from these situations, it’s important to get renters insurance. This kind of coverage can give young people who don't own their own place or seniors transitioning to a more manageable living environment like a condo a way to protect their belongings and safeguard against many types of accidents.

No matter your age or type of residence, renters insurance protects you against theft, fire, liability, and more, starting at about $10 a month. Many companies that provide homeowners insurance also offer policies for renters. We reviewed more than a dozen carriers based on price, coverage, and customer satisfaction to determine who can give you the best renters insurance.

Best Renters Insurance Companies of 2021

Best Overall: Allstate

Allstate

Allstate

We chose Allstate as the best overall renters insurance company because it has some of the most comprehensive renters insurance available, along with great customer service and several potential discounts. The company also has an A+ rating from the Better Business Bureau (BBB).

Allstate offers personal property coverage plus reimbursed living expenses if you're displaced due to a disaster, liability coverage if you or someone else gets hurt on your property, and identity restoration coverage in the event of identity theft. They offer renters policies bundled with auto insurance so you can save even more.

Some of the discounts available from Allstate include:

  • Multi-policy
  • Safe home
  • Claim-free
  • Easy pay plan
  • 55 and Retired

One area where Allstate could improve is claims service, as some customers feel the process was complicated or the company was not responsive enough to their situation.

With so many available discounts, including auto bundling insurance, Allstate may be the best option for renters insurance. It also offers free quotes, so you know exactly what you’re getting and how much it will cost before you sign up.

Runner-Up, Best Overall: Amica

Amica

Amica 

Amica has been in business since 1907 and has an A+ rating with the BBB. We selected the company as our runner-up because it offers comprehensive coverage and has more than 100 years of experience providing Americans with the protection they need. In addition to standard personal property, liability, and loss of use coverage coverages, Amica offers a number of optional add-ons, including riders for pricier jewelry and electronics, as well as identity theft coverage.

 Amica offers several discounts, including:

  • Loyalty
  • Claim-free
  • AutoPay
  • Multi-line
  • E-discount

Amica quotes prices as low as $4 a week to protect everything in your home, including peace of mind.

Amica also has a 3.2-star customer rating on Trustpilot.com. These satisfaction reviews are indicative of the company’s high-quality service and easy-to-use claims process.

Best for Customized Coverage: Liberty Mutual

Liberty Mutual

Liberty Mutual

Liberty Mutual offers a wide variety of coverage options and straightforward claims service. The company provides insurance in all 50 states and 20 countries around the world and has an A+ ranking from BBB. What sets Liberty Mutual renters insurance apart in our review is the level of customization available to give you just what you need in your policy.

Renters insurance from Liberty Mutual can be used to cover personal property like furniture and clothing, along with medical expenses and a place to stay if you need it. You can also get jewelry protection, earthquake damage benefits, and replacement costs for your other belongings. Liberty Mutual's simple calculator helps you see how much coverage you need and how much it might cost.

Liberty Mutual offers some additional perks we didn’t find with other companies. For instance, the Emergency Home Repair Service allows you to find a contractor to repair your home fast while you recover from disaster or theft, and the coverage calculator helps you decide which options fit your needs and your budget before you even get a quote.

The Liberty Mutual website offers a host of information for first-time renters, people sharing a house, and young adults who may have questions about renters insurance. Hailed for its customer service, ease-of-claims, and flexible policies, Liberty Mutual is a great pick if you are looking for renters insurance you can tailor to meet your specific needs and budget.

Best Claims Process: American Family Insurance

American Family Insurance

American Family Insurance

American Family Insurance has an A+ rating with the BBB. While American Family offers all the expected renters insurance coverage, from furniture and electronics to medical bills to hotel costs, it also goes a step further by providing multiple ways to make and track a claim.

Many insurance companies receive complaints that claims processes are long or complicated. American Family does its best to simplify that process. The company makes things more accessible by offering 24/7 claims service, and its customer support representatives are always available to help resolve customers' issues.

Aside from its excellent claims service, American Family gives you plenty of options for add-ons, including pet insurance and trip cancellation insurance for renters who have particular needs. Renters insurance from AmFam can even cover your belongings when they're outside your home, like if your computer gets stolen from a restaurant.

Best for Veterans: USAA

USAA

USAA

Coverage from USAA is available only to its members, who include qualified veterans, active members of the U.S. military, and their families. The company provides unique services and discounts for veterans and military members, such as specialized coverage for military equipment and uniforms for service members. It also provides coverage for war damages and no deductible if your property is damaged while you're on active duty.

While most insurance companies make you pay extra to cover certain natural disasters, USAA includes earthquake and flood damage in its standard policy. It also covers your belongings, even if they're not in your home at the time they are damaged. For example, if your TV is stolen or damaged by a flood during the moving process, USAA will cover the loss with its replacement cost coverage.

One downside to getting renters insurance from USAA is that the company does not make coverage details available online, including pricing. In order to get a detailed quote, you must first join USAA. Then, once you're a member, you can work with an agent to get a quote for individualized coverage that will meet all of your needs.

Best Customer Service: Erie Insurance

Erie Insurance

Erie Insurance

Erie Insurance was named the top renters insurance company by J.D. Power and Associates in 2020 for overall customer satisfaction. The company’s A+ rating by the Better Business Bureau also exemplifies its exemplary customer experience. Erie covers your living expenses if your home is damaged and you can't stay there, offers liability protection for you and your guests, and covers your personal property wherever you go.

While Erie Insurance is available in only 12 states, it has local advisors who can help you understand your options and your policy, putting its customer service above the rest. Erie's representatives are responsive and professional.

In terms of discounts, Erie lets you bundle auto and renters insurance so you can save. However, there aren't many other discounts to choose from, which means that any savings you get from Erie depend on your area, your chosen policy, and how you customize it. So, if Erie offers coverage in your area, it may be worth considering, especially if you need multiple policies that might qualify you for discounts.

What Is Renters Insurance?

Much like homeowners insurance protects your house in the event of fire, theft, or damage, renters insurance covers the items inside your rented home or apartment. Renters insurance coverage falls into three distinct categories:

  • Personal property: Covers the cost to fix or replace your possessions
  • Liability: Covers you if you or someone who lives with you gets injured in your apartment or on the property, your dog bites someone outside your home, or a tree limb on your property falls and damages someone else’s property
  • Living expenses: Offsets costs if your apartment is uninhabitable due to property damage or other reasons

The best renters insurance policies cover all three contingencies for a reasonable price. However, individual premiums will vary based on where you live, your coverage limits, and whether you opt for an actual cash value policy (which pays you for items lost after depreciation) or replacement value (which covers you for the full cost to replace that item with one exactly like it).

How We Chose the Best Renters Insurance Companies

When renting a house, apartment, or condo, it’s important to find a company that provides the coverage you need, whether that’s a simple plan, a custom policy to protect pricey collections, or a policy to cover you and your personal items while you’re on vacation. That’s why, when choosing the best renters insurance companies, we considered coverage options, independent consumer reviews, Better Business Bureau ratings, and pricing. 

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Article Sources
The Spruce uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
  1. National Multifamily Housing Council. "Renters and Owners." Accessed Dec. 27, 2020.

  2. Better Business Bureau. "Allstate Insurance | Better Business Bureau Profile." Accessed Dec. 27, 2020.

  3. Better Business Bureau. "Amica Mutual Insurance Company | Better Business Bureau Profile." Accessed Dec. 27, 2020.

  4. Trustpilot. "Amica Mutual Insurance is rated "Average" with 3.2/5 on Trustpilot." Accessed Dec. 27, 2020.

  5. Better Business Bureau. "Liberty Mutual Group | Better Business Bureau Profile." Accessed Dec. 27, 2020.

  6. Liberty Mutual. "Renters Insurance Coverage Calculator." Accessed Dec. 27, 2020.

  7. Better Business Bureau. "American Family Insurance | Better Business Bureau Profile." Accessed Dec. 27, 2020.

  8. J.D. Power. "2020 U.S. Home Insurance Study." Accessed Dec. 27, 2020.

  9. Better Business Bureau. "Erie Insurance | Better Business Bureau Profile." Accessed Dec. 27, 2020.