Home Home insurance Renters Insurance Best renters insurance companies in 2024 Best renters insurance companies in 2024 Amica tops the list of the best renters insurance companies of 2024, scoring 4.61 out of 5 in an analysis of rates, third-party ratings and Insure.com’s best insurance companies ranking. State Farm and Auto-Owners round out the top three. View Carriers Please enter valid zip Compare top carriers in your area Written by Chris Kissell Chris Kissell Chris Kissell is a Denver-based writer and editor with work featured on U.S. News & World Report, MSN Money, Fox Business, Forbes, Yahoo Finance, Money Talks News and more. Reviewed by Leslie Kasperowicz Leslie Kasperowicz Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at Insurance.com. Expert insight from Carole Walker Carole Walker Executive director of the Rocky Mountain Insurance Information Association.Go to comment Updated on: June 6, 2024 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. Renters insurance provides crucial coverage for your valuables and protection against liability claims. If you are a tenant looking for a new policy, Amica might be your best bet. In 2024, Amica earned a 4.61 overall rating and took the top spot in Insure.com’s list of the best renters insurance companies. However, if you qualify for USAA insurance, it might be an even better choice. USAA earned a 4.65 overall score but was not ranked because only members of the military and their families qualify for USAA coverage. Key Takeaways Amica is the best renters insurance company of 2024, earning an overall score of 4.61. State Farm offers the cheapest renters insurance coverage, at an average of $195 a month. Customer service reputation and financial stability are important factors when choosing a renters insurance company. Our take: The best renters insurance of 2024 Amica is the best company for renters insurance in 2024. Based on our expert analysis of rates and rating metrics, it earned a 4.61 overall rating. Amica’s average annual premium of $200 makes it one of the more affordable choices for renters insurance. It also has the lowest National Association of Insurance Commissioners complaint ratio, at only 0.23. Finally, Amica earned a solid A+ rating from AM Best. USAA earned a slightly higher overall score than Amica — 4.65. However, USAA is only available to military members and their families, so it isn’t ranked. Cheap isn’t everything, but with costs increasing we heavily considered cost in our ranking. “During these tough economic times it’s important to consider [renters] insurance costs and ways to save as part of your household budget—without cutting corners on coverage,” says Carole Walker, executive director of the Rocky Mountain Insurance Association, a consumer insurance resource. It is worth noting that USAA had the lowest average monthly renters insurance premium in our survey at $191 a month. So, if you qualify for coverage, USAA is worth checking into. Insure.com’s choice: Best renters insurance companies in the U.S. The best way to get the right coverage at a great price is to compare renters insurance companies. We compared renters insurance companies using average rates from Quadrant Data Services, third-party ratings from agencies like AM Best and internal rankings using our comprehensive best home insurance study. Here is how the best renters insurance companies in the U.S. stack up among the top companies. Company NAIC complaint ratioAM BestInsure.com best home insurance companies survey score**Annual premiumOverallratingAmica0.23A+4.22$2004.61State Farm0.95A++4.37$1954.55Auto-Owners0.33A++4.06$2234.51Erie0.38A+4.66$2794.50American Family0.37A4.25$2744.29Allstate0.90A+4.25$2724.22Nationwide0.87A4.33$2974.12Progressive8.45A+4.33$2154.08Farmers0.54A4.10$3254.03Travelers0.54A++4.18$4213.89USAA*0.36A++4.23$1914.65 *USAA is only available to military families. **Because renters insurance is offered by the same companies that write homeowners insurance, we used the survey data from our 2024 Best Home Insurance Companies ranking, which included a survey of home insurance customers including renters. See methodology. Best national renters insurance companies These are the best companies from the list above that offer renters insurance nationwide. Note that availability may be limited in specific areas. CompanyNAIC complaint ratioAM BestInsure.com best home insurance companies survey scoreAnnual premiumOverall ratingAmica0.23A+4.22$2004.61State Farm0.95A++4.37$1954.55Allstate0.90A+4.25$2724.22Progressive8.45A+4.33$2154.08Farmers0.54A4.10$3254.03Travelers0.54A++4.18$4213.89USAA*0.36A++4.23$1914.65 *USAA is only available to military families. Best regional renters insurance companies These are the best companies for renters insurance that offer coverage in limited areas and may or may not be available to you. Company NAIC complaint ratioAM BestInsure.com best home insurance companies survey scoreAnnual premiumOverall ratingAmica0.23A+4.22$2004.61Auto-Owners0.33A++4.06$2234.51Erie0.38A+4.66$2794.50American Family0.37A4.25$2744.29Nationwide*0.87A4.33$2974.12 *Nationwide is available in most, but not all states. A closer look at the top renters insurance companies Here is a breakdown of the top renters insurance companies, and why they are featured on our list. Amica Amica earned a 4.61 rating overall, putting it at the top of the survey. The company offers an affordable average monthly premium of $200 and the lowest National Association of Insurance Commissioners complaint ratio, 0.23. Amica earns an A+ rating from AM Best but isn’t ranked in J.D. Power’s annual renters insurance survey. State Farm State Farm earned a 4.55 rating overall, good enough for second place in the survey. The company’s average monthly premium of $195 was the lowest among ranked companies. It earns an excellent A++ rating from AM Best, but its complaint ratio is on the high side at 0.95. It landed above average on J.D. Power’s 2023 renters insurance survey at 844/1,000. Auto-Owners Auto-Owners earned a strong 4.51 rating overall. The company’s average monthly premium of $223 was near the middle in the survey. It earned an A++ rating from AM Best and has the second-lowest complaint ratio in the survey, at 0.33. Auto-Owners isn’t ranked by J.D. Power for renters insurance. Erie Erie earned a 4.5 rating overall. The company’s average monthly premium of $279 is on the higher side, but it has a low complaint ratio of 0.38. AM Best gives the company an A+ for financial stability. Erie topped J.D. Power’s list of the best renters insurance companies at a rating of 881/1,000. American Family American Family earned a 4.29 rating overall, placing it right in the middle of the survey. The company’s average monthly premium of $274 was on the higher side in the survey, but it has the third-lowest complaint ratio at 0.37. It has an A rating from AM Best. American Family landed in second place on the J.D. Power renters insurance study with a score of 856/1,000. Allstate Allstate earned a 4.22 rating overall. The company’s average monthly premium of $272 is relatively high, and its complaint ratio of 0.9 was the second-highest in the survey. It has a solid A+ rating from AM Best. Allstate ranked just below average on J.D. Power’s renters insurance study with a score of 835/1,000. Nationwide Nationwide earned a 4.12 rating overall. The company’s average monthly premium is a high $297, and its complaint ratio of 0.87 is also relatively high. AM Best gives the company an A rating. Nationwide ranked in fourth place with J.D. Power at a score of 852/1,000. Progressive Progressive earned a 4.08 rating overall. The company’s average monthly premium of $215 is the third-lowest among the insurers that were ranked. AM Best gives it an A+ rating. However, its complaint ratio with the NAIC is 8.45, far and away the highest in the survey. Progressive also ranked at the bottom of J.D. Power’s study, with a score of 804/1,000. Farmers Farmers earned a 4.03 rating overall. The company’s average monthly premium is the second-highest in the survey, at $325, but its complaint ratio is a modest 0.54. It has an A rating from AM Best. Famers earned the industry average rating from J.D. Power at 842/1,000. Travelers Travelers earned a 3.89 rating overall, landing the final place in the top 10. The company’s average monthly premium of $421 is the highest in the survey, however. Its complaint ratio is 0.54, and it has the best possible rating from AM Best, an A++. Travelers ranked just below average with J.D. Power at 835/1,000. QuickTake Are landlords responsible for tree damage to your car? Flood insurance for renters: A complete guide What does renters insurance cover? How much does renters insurance cost in 2024? Ten ways to save on your renters insurance Does renters insurance cover bike theft? Renters insurance and pit bulls How often should you shop around for renters insurance? Renters insurance quotes: Compare rates See more > How we picked Insure.com’s top-rated renters insurance companies To choose the best renters insurance companies, we started with average rates provided by Quadrant Data Services. We then researched third-party rankings from AM Best and the National Association of Insurance Commissioners (NAIC), and finally pulled ratings from our overall ranking of the best home insurance companies for 2024, which includes Insure’s survey of home insurance customers across the nation. While we reviewed J.D. Power scores and presented them where available, we didn’t include them in our rating due to the limited number of companies in the study. Best renters insurance companies by state Although Amica took the top honors across the U.S., other companies scored higher in some states. Here is a breakdown of the best renters insurance companies by state. State Best renters insurance provider AlaskaWestern National MutualAlabamaAuto-OwnersArkansasFarm Bureau Mutual Ins Co of ARArizonaAmerican FamilyCaliforniaFarmersColoradoChubbConnecticutChubbWashington, D.C.ChubbDelawareCumberland InsuranceFloridaNationwideGeorgiaAuto-OwnersHawaiiAIGIowaAuto-OwnersIdahoAmerican FamilyIllinoisAuto-OwnersIndianaIndiana FarmersKansasShelter InsuranceKentuckyAuto-OwnersLouisianaState FarmMassachusettsVermont MutualMarylandTravelersMaineState FarmMichiganAuto-OwnersMinnesotaSecura InsuranceMissouriShelter InsuranceMississippiSouthern Farm BureauMontanaChubbNorth CarolinaState FarmNorth DakotaState FarmNebraskaState FarmNew HampshireVermont MutualNew JerseyChubbNew MexicoState FarmNevadaAmerican FamilyNew YorkChubbOhioAuto-OwnersOklahomaShelter InsuranceOregonState FarmPennsylvaniaErie InsuranceRhode IslandState FarmSouth CarolinaAuto-OwnersSouth DakotaAuto-OwnersTennesseeTennessee FarmersTexasTexas Farm BureauUtahState FarmVirginiaState FarmVermontVermont MutualWashingtonPEMCOWisconsinWest Bend MutualWest VirginiaWestfield InsuranceWyomingNationwide What is the average cost of renters insurance? The average cost of renters insurance nationwide is $263 a year. However, it’s important to note that costs vary from renter to renter. The average cost also differs by state and by the amount of coverage you need. So, you may pay more or less than the average figure you see here. Use a renters insurance calculator to get a better idea of your costs. Renters insurance calculator Select your state Florida Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Washington, D.C. Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Calculate $359/year Estimated renters insurance rates in Florida $30 Monthly renters insurance cost in Florida 44% Compared to national average Get quotes Largest renters insurance companies Big doesn’t mean better, but a big company does generally have a solid financial footing. Market share also indicates how many people have chosen the company, a mark of trust. The largest combined homeowners and renters insurance companies in the U.S. by market share are as follows. CompanyMarket shareState Farm17.79%Allstate8.92%Liberty Mutual6.89%USAA6.81%Farmers5.91%Travelers4.98%American Family4.61%Nationwide2.68%Chubb2.56%Citizens2.11%Progressive1.94%Erie1.75%Auto-Owners1.69%Universal Insurance Holdings1.20%Tokio Marine America0.92%CSAA Insurance (AAA)0.87%Auto Club Enterprises (AAA)0.79%Cincinnati Financial0.79%Mercury Insurance0.75%Amica0.75%Country Insurance0.66%The Hartford0.65%Auto Club Group (AAA)0.63%The Hanover0.62%Heritage Insurance0.62% Things to consider when shopping for renters insurance Everybody wants to get the best price when shopping for renters insurance. And price should be a major consideration. However, other factors can be just as important. You want to make sure you get the coverage you need and find an insurance company you can trust to be there when you need it. Finding a company that offers great customer service and has a strong financial foundation is as important as finding one with great rates. The best way to shop for renters insurance is to gather quotes from a number of companies and compare them. Your current auto insurance company is a good place to start, and you may even be able to get a discount for bundling. Frequently asked questions What companies provide cheap renters insurance in 2024? Among the insurers in our ranking, State Farm offers the cheapest renters insurance, at an average of $195 a month. It is followed by Amica ($200) and Progressive ($215). However, it’s worth noting that if you are eligible for USAA, it has the cheapest renters insurance at $191 a month. How much renters insurance do you need? The amount of renters insurance you need is based on the assets you need to protect. If you have a lot of expensive electronics, clothes, jewelry and other possessions, you will likely want to make sure you have a robust amount of coverage. “Your landlord’s insurance only covers the building, not your belongings,” says Walker. To determine how much coverage you need, Walker suggests creating an inventory of all your property, including furniture, electronics, clothes, and more. Include photos or video documentation, along with any receipts or appraisals. Then, determine how much you would need to pay out of pocket to replace those items. “This can not only help you in purchasing a policy, but provide important documentation if you need to file a claim,” Walker says. In addition, it is important to purchase enough liability coverage to fully protect your finances in case you are responsible for significant damages to another person or their property. If you fail to purchase adequate protection, you could be responsible for paying many thousands of dollars in damages and legal fees if you are sued. What our expert says Carole WalkerExecutive director of the Rocky Mountain Insurance Information Association. “During these tough economic times it’s important to consider [renters] insurance costs and ways to save as part of your household budget—without cutting corners on coverage.” Methodology Insure.com commissioned renters insurance rates from Quadrant Data Services based on a sample policy with $40,000 in personal property coverage, $300,000 in liability coverage and a $1,000 deductible. Rates are based on a good credit score where credit is applicable. Rates were sampled from across 34,588 ZIP codes and 149 insurance companies. To rate the best renters insurance companies, we considered the average rate nationwide for the policy outlined above, AM Best financial stability rating, the National Association of Insurance Commissioners (NAIC) complaint ratio and the survey from our own in-house rating of home insurance companies compiled for our Best Home Insurance Companies of 2024 list. The survey asked home insurance customers, including renters insurance, to rate their insurance company on customer satisfaction, recommending the company to others, whether they plan to renew, and claims handling. These four were equally weighted to create the survey score used in the ranking. See the full methodology for the Best Home Insurance Company survey and ranking here. The J.D. Power 2023 U.S. Home Insurance study is the most recent study, and ranks companies out of 1,000. The industry average for this study is 842. Ratings are presented but not used for Insure’s rankings as not all companies were included in the study. Chris KissellContributing Researcher  . .Chris Kissell is a Denver-based writer and editor with work featured on U.S. News & World Report, MSN Money, Fox Business, Forbes, Yahoo Finance, Money Talks News and more. In case you missed it What is HO-6 condo insurance and how much does it cost? Average homeowners insurance cost by ZIP code in 2024 What is dwelling coverage and how much do you need? Personal liability insurance: What it is and why you need it Renters insurance quotes: Compare rates Hurricanes and home insurance: How hurricane insurance works How replacement cost coverage works when you file a claim How much do claims increase home insurance rates? Mobile home insurance cost and coverage in 2024 Homeowners insurance basics Home Insurance Advisor Cheapest homeowners insurance in 2024 How much flood insurance do I need? 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Most Americans don’t 1/1 Related Articles Condo and co-op homeowners insurance: What you should know By Mark Vallet Cost of living calculator By Nupur Gambhir Homeowners insurance rates by state in 2024 By Jake Safane Homeowners insurance calculator: Estimate the cost of homeowners insurance By Jessica Olson Mobile home insurance cost and coverage in 2024 By Chris Kissell How to prepare for a hurricane By Shivani Gite On this page Our take: The best renters insurance of 2024Insure.com’s choice: Best renters insurance companies in the U.S.A closer look at the top renters insurance companiesHow we picked Insure.com’s top-rated renters insurance companiesBest renters insurance companies by stateWhat is the average cost of renters insurance?Largest renters insurance companiesThings to consider when shopping for renters insuranceFrequently asked questionsWhat our expert saysMethodology ZIP Code Please enter valid ZIP See rates