How much is renters insurance in Austin, TX

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In Austin, TX, the average cost of renters insurance is $203 annually for $40,000 in personal property, $300,000 in liability and a $1,000 deductible. It is $23 less than the state average of $226 per year.

Renters insurance costs may differ depending on the coverage you opt for and the amount of liability coverage included in your policy. If you’re living in a rental property, it’s worth considering this type of insurance to protect your belongings from damages caused by fire, smoke, theft, vandalism and other covered events.

We conducted an in-depth analysis of insurance companies to find the most affordable insurers for renters in Austin. Continue reading to know the cheapest renters insurance companies in Austin.

Key Takeaways

The average cost of renters insurance in Austin is $203 annually or $17 monthly.
The cheapest option for renters in Austin is State Farm, offering coverage at $14 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as discounts for installing a security system or bundling policies.

What is the average cost of renters insurance per month in Austin?

On average, renters in Austin pay $17 per month for renters insurance, which is $2 less than the state average of $19. The policy includes $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

The cost of renters insurance in Austin varies depending on your carrier and the coverage limit you select. Renters in Austin typically pay $12 monthly for $20,000 in personal property coverage and a $1,000 deductible. If you decide to increase your coverage to $40,000, you’ll see an increase of $5 more in your monthly premium.

You’ll need to decide on the coverage that best fits your needs and budget. However, choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.

How much is renters insurance in Austin by deductible?

The average cost of renters insurance in Austin is $152 annually for a $500 deductible and $20,000 in personal property coverage

The deductible is the amount you pay out-of-pocket before your insurance kicks in. If you raise your deductible, your premiums will decrease. For example, if you maintain $20,000 in personal property coverage but increase your deductible from $500 to $1,000, you’ll save $10 every year on your insurance.

Here are the renters insurance premiums for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$152	$219	$280
$1,000	$142	$203	$259

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Austin?

Your search for the cheapest renters insurance company ends here.

State Farm offers the cheapest renters insurance in Austin at $169 a year or $14 per month. According to Insure.com’s data analysis, Progressive ranks second on our list followed by Allstate.

Our experts at Insure.com evaluated renters insurance quotes from all the big and small insurance companies in Austin and put together a list of the most affordable insurance carriers.

Below are the average annual and monthly rates of the cheap renters insurance companies in Austin, TX.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$169	$14
Progressive	$170	$14
Allstate	$202	$17
Nationwide	$242	$20
Texas Farm Bureau	$275	$23
Farmers	$410	$34
USAA	$140	$12

Tips for reducing renters insurance cost

Here are some tips to help reduce renters insurance costs in Austin:

Bundle insurance policies: If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Austin.

Increase deductible: Opting for a higher deductible can lower your premium in Austin, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage: Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims: Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around: Don’t settle for the first quote you receive. Compare renters insurance quotes in Austin from multiple providers to find the best price for the coverage you need.

Final thoughts

Renters insurance in Austin, TX, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Austin for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.