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Your renters insurance premium could be higher or lower depending on the coverage and liability limits you select. Purchasing renters insurance is a good idea, as it helps protect your personal property from damage or loss due to events like fire, smoke, theft and vandalism.
After carefully evaluating renters insurance companies, we’ve compiled a list of the most affordable insurers for Santa Clara renters. Keep reading to learn which insurers offer the lowest rates in Santa Clara
Key Takeaways
- According to Insure.com’s data study, renters insurance costs an average of $208 per year or $17 per month in Santa Clara.
- State Farm has the cheapest renters insurance for Santa Clara renters at $13 per month.
- Taking advantage of discounts, such as having a security system or bundling renters insurance with other insurance policies, can help reduce your insurance premiums.
What is the average cost of renters insurance per month in Santa Clara?
On average, the cost of renters insurance in Santa Clara is $17 a month. It’s equals to the state average of $17. Renters in Santa Clara pay these rates for the coverage limit of $40,000 in personal property coverage, $1,000 deductible and $300,000 in liability protection coverage.
The renters insurance rates vary by city depending on your insurance provider and the coverage limits you choose. For example, renters in Santa Clara pay $13 per month for personal property coverage of $20,000 and a $1,000 deductible. However, if you decide to increase the personal property coverage limit to $40,000, you will pay $4 more for renters insurance.
Now, you’ll have to decide how much coverage you need and how much you can afford. However, it is recommended that you choose higher coverage limits if your personal belongings consist of expensive jewelry, furniture and electronics.
How much is renters insurance in Santa Clara by deductible?
Renters insurance in Santa Clara costs an average of $173 per year for a $500 deductible and $20,000 in personal property coverage.
The deductible is the amount you pay before your insurance coverage applies. By increasing your deductible, you can lower your insurance premium. For instance, raising your deductible from $500 to $1,000 will save you $14 annually.
The table below shows renters insurance premiums for varying personal property coverage and deductible amounts.
| Deductible | $20000 personal property | $40000 personal property | $60000 personal property |
|---|---|---|---|
| $500 | $173 | $227 | $283 |
| $1,000 | $159 | $208 | $258 |
Read our guide to know what does renters insurance cover.
Who offers cheap renters insurance in Santa Clara?
Your search for the cheapest renters insurance company ends here.
State Farm offers the cheapest renters insurance in Santa Clara at $158 a year or $13 per month. According to Insure.com’s data analysis, Iowa Farm bureau ranks second on our list followed by Nationwide.
Our experts at Insure.com evaluated renters insurance quotes from all the big and small insurance companies in Santa Clara 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 Santa Clara, UT.
| Renter insurance provider | Average annual rate | Average per month rate |
|---|---|---|
| State Farm | $158 | $13 |
| Iowa Farm bureau | $174 | $15 |
| Nationwide | $180 | $15 |
| Auto-Owners | $186 | $16 |
| Allstate | $189 | $16 |
| American Family | $222 | $19 |
| Metropolitan | $244 | $20 |
| Mutual of Enumclaw | $280 | $23 |
| USAA | $224 | $19 |
Tips for reducing renters insurance cost
Here are some tips to help reduce renters insurance costs in Santa Clara:
- 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 Santa Clara.
- Increase deductible: Opting for a higher deductible can lower your premium in Santa Clara, 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 Santa Clara from multiple providers to find the best price for the coverage you need.
Final thoughts
Renters insurance in Santa Clara, UT, 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 Santa Clara for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 deductible. The data presented are those with a good credit tier alignment.
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