Best Renters Insurance Companies of July 2024

In addition to comprehensive coverage options that can help protect your rental property, Nationwide provides specialized protection for a wide variety of items. For example, you could claim food spoilage during a power outage. According to the U.S. Department of Agriculture (USDA), a family of four on a moderate food budget could spend around $300 per week on groceries. With Nationwide, you can recoup lost food costs after a blackout and replace items in your fridge.

Other coverages include protections for watercraft, money, credit cards, trailers and more, leading us to name the provider our pick for valuable endorsements. Comparatively, most providers on our list do not offer similar endorsements. However, Nationwide is the second most expensive provider, on average, for a renters insurance policy out of the companies featured in this review.

Refer to the chart below for a comparison of our rating for Nationwide against our average rating across 14 providers, which we calculated using our renters insurance methodology.

Nationwide offers discounts for bundling your renters insurance with another policy, in addition to discounts related to protective devices and claims history. Add-ons include Brand New Belongings coverage, which helps cover lost or stolen items, loss assessment, credit card coverage, theft extensions, earthquake coverage and more. Limited water backup coverage is also available.

We conducted a survey in February 2024 of 1,000 respondents with renters insurance policies, finding that 78 of the respondents chose Nationwide. This survey helped our team better understand the positives and negatives associated with the company.

Our results found that almost 95% of participants with Nationwide renters insurance were satisfied with the provider. Policyholders who were happy with the provider cited Nationwide’s customer service and affordable costs as key factors. However, those who were dissatisfied pointed to cost as the primary reason.

Our team reached out to Nationwide for comment on its customer dissatisfaction but did not receive a response.

Several respondents to our June 2024 survey currently have renters policies with Nationwide and were willing to provide insight into their experience. One respondent noted that the quote process was quick using an insurance agent. However, they frequently have trouble logging into the customer portal, and described Nationwide’s autopay as ”confusing and a huge pain.”

Another respondent used Nationwide’s website to get an online quote and purchase a renters insurance policy. Here’s what they had to say about their experience:

“Since I bundled my policy with auto insurance, I was able to get a quote and sign up online without needing the help of an agent. I could activate my policy the same day, which was important to me, and the quote I received was the actual price I paid. I was also able to change my policy details to help get the price to a place I was more comfortable with.”

This same participant also spoke of their satisfaction with the online portal, stating: “I was able to change my address within the portal in less than five minutes, which I have never been able to do with other providers. There is also an easily accessible customer support chat feature if you need live help.”

If you’re shopping on a budget, State Farm might work for you. The company offers cheaper premiums, on average, than all competitors in this review — and it’s 33% cheaper than the overall national monthly average. This means you could potentially save around $40 per year on your renters insurance premium with State Farm. The provider also offers a wide range of deductible options, further allowing you to customize costs and insurance coverage.

We’ve named State Farm as our pick for affordable premiums. However, its low cost does not signal low quality. The company offers comprehensive coverage for belongings, personal liability protection and medical payments, plus four endorsements to strengthen your coverage if needed. Its expansive network of insurance agents can also provide a personal touch to your insurance dealings if you have questions or want to avoid a fully digital experience.

We’d like to note that our team member with a State Farm policy spent a week enrolling in coverage, as they had to connect with a representative to finalize coverage. This is much longer than the experience you may have with digital-forward providers such as Lemonade. However, the insurance agent helped them qualify for discounts and assess coverage options, which made the buying process seem easier.

Compare our rating for State Farm to our average rating across 14 providers, which we reviewed using our renters insurance methodology.

State Farm offers discounts associated with safety features in your residence and for bundling insurance products with the company. Add-ons include coverage for high-value personal property, waterbeds, identity theft protection, business property and personal liability.

To gain a comprehensive understanding of what consumers think of renters insurance companies, we surveyed 1,000 respondents with policies in February 2024. Of these, 298 had a policy with State Farm.

We found that over 96% of participants with a State Farm policy were satisfied with the company. These policyholders noted State Farm’s affordable costs, useful coverage and customer service as top reasons for their satisfaction. Those dissatisfied with the company selected cost and poor customer service as the primary reasons.

Our team reached out to State Farm for comment on its customer dissatisfaction but did not receive a response.

We found that most of our survey respondents have State Farm renters insurance policies. The general consensus among respondents was they would have preferred an entirely digital sign-up process, as State Farm required several people to speak with an agent to activate their policy after obtaining a quote online. However, they noted that customer representatives were helpful and prompt, answering any questions about coverage before finalizing their purchase.

Opinions about State Farm’s customer portal were mixed. Several participants in our June 2024 survey felt the provider’s mobile app is easy to navigate and very convenient to use with no major issues. Others stated issues with the app logging into their accounts and keeping them logged in with biometrics.

If you’re a military member, USAA renters insurance is worth considering. Its standard policy covers everything you’d expect from renters insurance, plus includes flood and earthquake protection as standard coverage. According to our research, other insurers may only offer these coverages as endorsements, and with data from the National Flood Insurance Program (NFIP) showing that 32% of standalone flood insurance policies cost between $1,00 and $2,000 per year, you can save on this coverage with USAA. This provider also extends replacement cost coverage that does not take into account the depreciation of your items over time when calculating replacement costs.

We named USAA as our pick for military members. It offers unique, military-specific benefits such as automatic war coverage, which protects your belongings if they get damaged due to war outside the U.S. The company will cover replacements with no deductible for items such as your uniform, flight case or personal body armor.

However, you’re only eligible for a membership if you or a family member qualifies as retired or active-duty military. If you aren’t a member, you cannot purchase a renters insurance policy with the company. If you’re eligible, note that USAA offered the fourth cheapest costs, on average, out of the providers in this review.

See the table below for how we scored USAA using our renters insurance methodology compared to our average rating for 14 total providers.

USAA offers multi-policy bundling, active-duty military, home security system and claims-free discounts to members with home insurance policies. Add-on coverages include personal property replacement cost coverage and business property protection.

To better understand how real customers perceive renters insurance companies, we conducted a survey of 1,000 policyholders in February 2024. When analyzing survey results, we found that 85 participants held a policy with USAA.

When asked about their level of satisfaction, 94% of respondents with a USAA policy said they were satisfied with the company. Of these satisfied policyholders, USAA’s affordable costs and customer service were their top reasons for satisfaction. Those dissatisfied with the company mentioned unsatisfactory coverage as the primary reason.

Our team reached out to USAA for comment on its customer dissatisfaction but did not receive a response.

One respondent from our June 2024 survey had renters insurance with USAA from 2017 to 2021. They used the company’s online quote tool and felt it was a fast, easy and straightforward process. They ultimately chose USAA for its customer service and low pricing. While the respondent did not file a claim during this time, they were satisfied with the coverage and decided to use the provider for home insurance when purchasing a home in 2021.

We attempted to go through the quote process ourselves for further information but found you can only get a quote if you’re a USAA member. If you are not a current member and ineligible due to a lack of military status, you’ll need to consider other options in your search for a renters policy.

Allstate is our pick for seniors due to its unique insurance discount for retired renters aged 55 or older. The provider scored well in all of our renters insurance review categories, and based on our research, is a reputable, long-standing company that offers policies at a reasonable cost.

Allstate is our pick for senior renters due to its unique 25% discount for retirees aged 55 or older. With the average cost of an Allstate renters insurance policy amounting to around $173 per year, this discount could save qualifying policyholders $43 per year. The provider scored well in all of our renters insurance review categories, and based on our research, is a reputable, long-standing company that offers policies at a reasonable cost.

Even if you’re not a senior renter, Allstate still offers a good choice if you’re looking for a well-rounded insurance provider. Allstate is available nationwide, features 24/7 customer service support via chat and has a smartphone app. However, note that it costs around 3% more than the national average monthly cost of $13.96. In addition, it offers optional flood insurance — ideal for renters living in areas where coverage is required by law.

Refer to the table below for a comparison of Allstate’s rating against the average we calculated across 14 total providers, based on our renters insurance methodology.

Allstate offers discounts for retired seniors who are 55 and older, in addition to savings for autopay policies, claims-free renters and bundling your policy with another Allstate insurance product. Add-ons offered by the company for renters insurance policies include scheduled personal property add-ons and identity theft protection.

To gain insight into consumer perceptions of renters insurance companies, we surveyed 1,000 policyholders in February 2024. When analyzing our survey results, we found that 145 participants held an Allstate renters insurance policy.

When asked if they were satisfied with Allstate’s service, over 94% of respondents said they were satisfied with the company. Of these policyholders, Allstate’s affordable costs, customer service, and useful coverage options were the top reasons for their satisfaction. Those dissatisfied with the company noted experiences of coverage being too expensive and denied claims.

Our team reached out to Allstate for comment on its customer dissatisfaction but did not receive a response.

None of the participants in our June 2024 survey had a renters insurance policy with Allstate, so we went through the quote process ourselves. You’ll need to provide your name and address and information about your home, such as whether or not you have smoke detectors, fire extinguishers or a burglar alarm. You must also disclose if you’ve filed any property insurance claims within the past five years.

From there, you can choose your coverage level and begin the checkout process. Overall, we thought the process was straightforward and simple, and we appreciated how you could complete it from start to finish entirely online.

Toggle is a tech-forward renters insurance provider that we recommend for anyone working to build their credit. As a renter, the monthly payments you make to your landlord are not reported to the three major credit reporting bureaus responsible for maintaining credit score data. However, Toggle’s unique Credit Lift option can help raise your credit score by reporting your monthly rent payments.

Unlike most competitors, the company allows you to customize each component of your coverage, from protection for pet damage to specialized coverage for tools and equipment if you have a side hustle. For this, we named Toggle our pick for custom pricing. Based on our cost data, Toggle is the second-cheapest option out of our picks in this review, costing 11% less a month than the national average price of a renters insurance policy.

Review the table below to see how Toggle stacks up against our average rating calculated across 14 providers using our renters insurance methodology.

Toggle offers a diminishing deductible for claims-free policyholders and a multi-policy bundling discount. In addition to policy savings, Toggle users receive various discounts on products and services such as meal kits, streaming services, moving services, internet and dining. Add-ons from this provider include identity protector, temporary living costs, pet parent coverage, high-value item coverage and side hustle coverage.

To better understand the strengths and weaknesses of our top picks for renters insurance, our team conducted a survey in February 2024 of 1,000 respondents with policies. Our results found that 12 respondents had a policy with Toggle.

Seventy-five percent of participants with a Toggle policy were satisfied with the provider — the lowest percentage among our top renters insurance companies. Policyholders who expressed satisfaction with the company noted affordable costs and useful coverage options. However, dissatisfied customers pointed to denied claims as their reason for dissatisfaction.

Our team reached out to Toggle for comment on its customer dissatisfaction but did not receive a response.

None of the respondents in our June 2024 survey had a renters insurance policy with Toggle, so we gathered quotes from the provider on our own. All we needed to obtain a quote was our name, address and date of birth. From there, Toggle immediately offered a choice of three coverage options that we could further personalize.

We found the personalization process organized and efficient. You adjust sliders to get the exact coverage you want. Then, you choose from six different add-on options before confirming your selections and purchasing your customized plan.

We named American Family our pick for customer service, as it provides policyholders 24/7 access to its support team. In addition, the company has the second-highest customer satisfaction rating in the 2023 J.D. Power study on home and renters insurance, suggesting current customers are satisfied with the level of support it offers.

American Family can cater to those looking for both a personalized and digitized experience. It can connect renters with a local agent to handle concerns, or you can submit claims online through the customer portal after a loss. However, it is the priciest provider featured in this review, costing almost 10% more a month than the national average.

View the table below to compare American Family’s score to our average provider score, determined by our renters insurance ratings methodology.

American Family offers a unique generational discount — if you’re between the ages of 18 and 30 and your parent has an American Family policy, you can receive a lower rate for renters insurance. Other discounts include bundling policies, smart home, auto-pay, full pay and paperless billing. The provider also offers a loyalty discount after being a customer for a year. Add-on coverages include identity theft protection, pet insurance, travel protection, and home-based business liability and property coverage.

We surveyed 1,000 consumers in February 2024 to learn about satisfaction with renters insurance providers. Of those who participated in our survey, 63 had a policy with American Family.

Ninety-two percent of participants with renters insurance from American Family were satisfied with the provider, and policyholders noted affordable costs and useful coverage as their top reasons. Out of the 8% who were dissatisfied with the company, the majority had issues with customer service.

Our team reached out to American Family for comment on its customer dissatisfaction but did not receive a response.

Our internal survey lacked participants with an American Family renters insurance policy, so we reviewed the quote process ourselves. We found that the provider asked for more personal information to obtain a quote than others in this review. For example, we had to provide our phone number and email address before receiving a price.

From there, American Family gave us a quote and coverage breakdown of three different plans. However, we could not buy coverage online. The provider directed us to call a representative or receive a call later to finalize our purchase. Overall, we found American Family’s purchasing process as the least convenient out of the providers in this review.