Best Renters Insurance Companies 2026
The USAA Renters Insurance is our top pick for renters insurance. Cheapest renters insurance for eligible members. For budget shoppers, the Allstate Renters Insurance offers solid value at a lower price.
Get Quote →At a Glance
| # | Product | Award | Avg Annual Cost | AM Best Rating | Key Discount | |
|---|---|---|---|---|---|---|
| 1 | USAA Renters Insurance | Our Top Pick | N/A | A++ (Superior — reaffirmed July 2, 2025) | — | Apply → |
| 2 | State Farm Renters Insurance | Also Excellent | N/A | A++ (Superior — highest possible) | — | Apply → |
| 3 | Lemonade Renters Insurance | Best Value | N/A | — | — | Apply → |
| 4 | Allstate Renters Insurance | Worth Considering | N/A | A+ (Superior) | — | Apply → |
| 5 | Amica Renters Insurance | Honorable Mention | N/A | A+ or A++ — among highest possible (Amica Mutual) | — | Apply → |
USAA Renters Insurance
“Cheapest for eligible members. A++ AM Best. Consistently #1 satisfaction. Military-specific coverage benefits. Eligibility: military/veterans/family only.”
What we like
- Cheapest renters insurance for eligible members
- Replacement cost coverage included as standard
- Flood AND earthquake coverage included as standard — unique among all major insurers
- A++ AM Best — highest financial strength
- Consistently #1 in satisfaction among all renters insurance companies
Watch out for
- Eligibility restricted to military, veterans, and immediate family
- Not available to most U.S. renters
- No physical branch offices for non-military markets
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
State Farm Renters Insurance
“~$145/year. A++ AM Best. Above-average J.D. Power. Available all 50 states. Strong auto bundling discount. 17,000+ agent locations.”
What we like
- ~$145/year — below national average with A++ AM Best (highest possible)
- Above-average J.D. Power satisfaction (2025 study)
- Available in most states — all except Massachusetts and Rhode Island
- Strong auto bundling discount
- 17,000+ agent locations for in-person support
Watch out for
- ~$2–$38/year more expensive than the cheapest options (Amica, Lemonade)
- Online quoting not available in all states — some require agent contact
- Replacement cost coverage may cost extra
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
Lemonade Renters Insurance
“~$134–$140/year. App-based claims — ~40% settled instantly by AI. 661/1,000 J.D. Power. Demotech "A (Exceptional)" financial stability. ~28 states + D.C.”
What we like
- ~$134–$140/year — significantly below the $151–$170 national average
- ~40% of claims settled instantly by AI — fastest claims process available
- 682/1,000 J.D. Power — above industry average of 668
- Fully app-based — signup, management, and claims in one place
- Up to $250,000 personal property coverage
Watch out for
- No AM Best rating — Demotech 'A (Exceptional)' financial stability rating instead
- Available in only 29 states + D.C.
- No in-person agents for those who prefer human service
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
Allstate Renters Insurance
“~$143/year. A+ AM Best. Strong bundling discounts for existing Allstate auto customers. 639/1,000 J.D. Power. All 50 states.”
What we like
- ~$143/year — below national average, available all 50 states
- Strong bundling discount with Allstate auto insurance
- A+ AM Best financial strength
- Optional riders: scheduled personal property, identity restoration
- Available in markets where Amica and Lemonade don't operate
Watch out for
- 639/1,000 J.D. Power satisfaction score — significantly below industry average of 668 and well behind Amica (909) and Lemonade (827)
- Without an existing Allstate auto policy, multi-policy discount disappears — making it $5-8/month more expensive than Lemonade or State Farm for equivalent coverage
- Customer claims resolution rated below Amica, Lemonade, and State Farm in 2024 consumer surveys
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
Amica Renters Insurance
“~07–$116/year — cheapest nationally. #1 J.D. Power (711/1,000). Replacement cost coverage. Elite AM Best. Most states.”
What we like
- ~$107–$116/year avg — cheapest renters insurance nationally (MoneyGeek 2026)
- Ranked #1 by MoneyGeek (4.82/5) for overall value, coverage, and service
- Replacement cost coverage available — items replaced at current market value
- Elite AM Best financial strength — one of the highest in the industry
- Water backup coverage available; low NAIC complaint ratio
Watch out for
- Not available in all states — limited in some Southern and Western states
- No instant app-based claims like Lemonade
- Getting a quote requires website or phone — no fully digital signup in all markets
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
Renters Insurance Companies Buying Guide
Photo by Mikhail Nilov / Pexels-
Personal property:
Personal Property: Covers Furniture, Electronics, Clothing
Your belongings (furniture, electronics, clothing) if damaged by a covered peril — fire, theft, vandalism, windstorm, water damage from burst pipes. A standard policy covers $15,000–$30,000 in belongings.
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Personal liability:
Personal Liability: Covers Guest Injuries in Your Rental
State Farm Renters InsuranceSee Full Review →
▶Best and Cheapest Renters Insurance Companies of 2026
If a guest is injured in your rental or you accidentally damage someone else's property — typically $100,000 in coverage included.
- Additional Living Expenses (ALE): If your rental becomes uninhabitable due to a covered event, ALE covers hotel costs, meals, and other temporary housing expenses while repairs are made.
- Floods: Flood damage requires a separate flood insurance policy (via FEMA's National Flood Insurance Program or private insurers). Standard renters insurance does not cover flooding.
- Earthquakes: Earthquake coverage is excluded from standard policies; available as a rider in some states.
- Your car: Auto insurance covers your vehicle — renters insurance covers belongings inside the car that are stolen (up to policy limits).
- Roommate's belongings: Your policy covers only the named insured unless your roommate is added.
Watch Before You Buy
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How We Evaluate Financial Products
We compare financial products based on objective criteria: annual fees, APR ranges, rewards rates, sign-up bonuses, and key perks. We do not factor in issuer relationships or compensation when determining rankings. Products are ranked based on overall value for the target use case described on this page.
Rates and terms change frequently. We update these pages regularly, but always verify current rates directly on the issuer’s website before applying. APR ranges shown reflect the full possible range — your actual rate depends on your creditworthiness.
This content is for informational purposes only and should not be considered financial advice. We compare products; we do not advise on which product is right for your personal financial situation. Read our full methodology →