How much is renters insurance in Sydney, FL

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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 Sydney renters. Keep reading to learn which insurers offer the lowest rates in Sydney

Key Takeaways

The average cost of renters insurance in Sydney is $225 annually or $19 monthly.
The cheapest option for renters in Sydney is Travelers, offering coverage at $10 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 Sydney?

On average, renters in Sydney pay $19 per month for renters insurance, which is $2 less than the state average of $21. The policy includes $40,000 in personal property, $100,000 in liability protection and a $1,000 deductible.

The cost of renters insurance in Sydney varies depending on your carrier and the coverage limit you select. Renters in Sydney typically pay $14 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 Sydney by deductible?

Renters insurance in Sydney costs an average of $175 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 $12 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	$175	$247	$324
$1,000	$163	$225	$293

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Sydney?

Your quest for the cheapest renters insurance ends here.

Travelers provides the cheapest rates in Sydney, with an annual premium of $121 or $10 per month. Nationwide is the second cheapest company, followed by Universal Insurance Holding.

Insure.com’s experts have compared renters insurance quotes from all the national and regional carriers in Sydney to create a list of the most affordable insurers. Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
Travelers	$121	$10
Nationwide	$140	$12
Universal Insurance Holding	$161	$13
State Farm	$208	$17
FedNat Holding	$211	$18
Allstate	$222	$18
Security First Insurance	$222	$19
Amer Integrity Ins Co of FL	$251	$21
Progressive	$272	$23
Citizens Property Insurance	$303	$25
HCI Group Inc	$471	$39

Tips for reducing the cost of renters insurance

Below are some tips to help you save on renters insurance in Sydney:

Bundle policies: If you have other insurance, such as car insurance, bundling it with the same provider can often earn you a discount. Many insurers in Sydney offer savings for bundling policies.

Increase your deductible: Choosing a higher deductible can lower your premium, but ensure you’re prepared to cover the higher out-of-pocket costs if you need to file a claim.

Choose the right coverage amount: Regularly review your renters insurance to avoid paying for more coverage than you need. For example, you might opt for lower personal property coverage if you don’t own high-value items.

Limit small claims: Filing multiple small claims can drive up your rates. If possible, consider paying for minor damages out of pocket to keep your premium low.

Shop around for quotes: Don’t settle for the first offer. Compare renters insurance rates from multiple providers in Sydney to find the best coverage at the lowest price.

Final thoughts

Renters in Sydney, FL should purchase renters insurance to protect their belongings and financial health. The cost of coverage varies based on your location, coverage limits and individual circumstances. To find the best deal, evaluate your coverage needs, compare quotes from different providers and take advantage of any available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Sydney 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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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.