Cheapest renters insurance for 2025: National carriers
The cheapest national company for renters insurance is State Farm at an average annual rate of $195 or $19 a month.
| Company | Average annual premium | Average monthly premium |
|---|---|---|
| State Farm | $195 | $16 |
| Amica | $200 | $17 |
| Progressive | $215 | $18 |
| Allstate | $272 | $23 |
| Nationwide | $297 | $25 |
| Farmers | $325 | $27 |
| Travelers | $421 | $35 |
| USAA | $191 | $16 |
Cheapest renters insurance for 2025: Regional carriers
In many cases, a smaller insurance company may offer you more affordable renters insurance. The cheapest regional insurance company, and the cheapest of all companies for which we have rates, is Vermont Mutual at $133 a year. Take a look at the cheapest regional insurance companies for renters insurance below.
| Company | Average annual rate |
|---|---|
| Vermont Mutual | $133 |
| North Carolina Farm Bureau | $135 |
| West Bend Mutual | $139 |
| Union Mutual | $150 |
| PEMCO | $155 |
| Tennessee Farmers | $158 |
| MMG Insurance | $159 |
| Cumberland Insurance | $168 |
| Secura Insurance | $169 |
| Mercury Insurance | $169 |
| Donegal | $171 |
| Nodak Insurance | $172 |
| New Jersey Manufacturers | $172 |
| Georgia Farm Bureau | $174 |
| Frankenmuth Insurance | $174 |
| Wisconsin Mutual | $179 |
| Agraria Mutual | $185 |
| Amica | $189 |
| Kansas Insurance | $190 |
| American National Finance | $195 |
| Universal Insurance Holding | $211 |
| Andover Insurance | $217 |
| Co-operative Insurance | $220 |
| Auto Club | $224 |
| Automobile Club MI | $232 |
| Quincy Mutual | $238 |
| Franklin Mutual | $238 |
| North Star Mutual | $247 |
| Arbella Insurance | $249 |
| IMT Insurance | $257 |
| Indiana Farmers | $259 |
| CSAA Insurance | $263 |
| Island Insurance | $265 |
| Universal Insurance Co | $268 |
| State Farm | $270 |
| Chubb Ltd | $271 |
| USAA | $284 |
| Safety Insurance | $289 |
| Shelter Insurance | $289 |
| Allstate | $292 |
| Progressive | $295 |
| Alfa Corporation | $301 |
| Kentucky Farm Bureau | $303 |
| Farm Bureau Mutual Ins Co of AR | $308 |
| Oregon Mutual | $315 |
| American Family | $320 |
| Nationwide | $323 |
| Western National Mutual | $325 |
| NYCM Insurance | $332 |
| Heritage Insurance Holdings | $334 |
| Country Financial | $338 |
| Farm Bureau | $339 |
| Mutual of Enumclaw | $341 |
| Kemper Insurance | $346 |
| RLI Insurance | $348 |
| Erie Insurance | $354 |
| Mapfre Insurance | $355 |
| Palisades | $357 |
| Oklahoma Farm Bureau | $360 |
| Citizens Property Insurance | $367 |
| New London County Insurance | $367 |
| Westfield Insurance | $396 |
| Ocean Harbor | $397 |
| United Insurance Holdings | $397 |
| Farmers Insurance | $397 |
| FedNat Holding | $399 |
| Marysville Mutual | $399 |
| South Carolina Farm Bureau Mutual | $402 |
| Southern Farm Bureau | $413 |
| Indiana Farm Bureau Grp | $435 |
| IAT Insurance Group | $472 |
| AFR Insurance | $477 |
| National General Insurance | $496 |
| Travelers | $599 |
| Security First Insurance | $600 |
| HCI Group Inc | $615 |
| Auto-Owners | $626 |
| The Hanover | $1,116 |
| Michigan Farm Bureau | $1,314 |
| AIG | $1,340 |
| Pure Companies Grp | $1,463 |
Cheapest renters insurance by state
Renters insurance costs can also vary, depending on where you live. Wyoming is the cheapest state for renters insurance, while Louisiana has the highest rates.
Below, you can compare the cheapest companies in your state for a renters insurance policy with $40,000 in personal property coverage, $300,000 in liability, and a $1,000 deductible.
| State | Average annual rate, $40,000 personal property, $100,000 liability, $1,000 deductible |
|---|---|
| Alabama | $436 |
| Alaska | $273 |
| Arizona | $348 |
| Arkansas | $501 |
| California | $276 |
| Colorado | $232 |
| Connecticut | $364 |
| Delaware | $280 |
| Florida | $395 |
| Georgia | $411 |
| Hawaii | $247 |
| Idaho | $275 |
| Illinois | $381 |
| Indiana | $370 |
| Iowa | $241 |
| Kansas | $294 |
| Kentucky | $352 |
| Louisiana | $540 |
| Maine | $250 |
| Maryland | $256 |
| Massachusetts | $255 |
| Michigan | $500 |
| Minnesota | $251 |
| Mississippi | $500 |
| Missouri | $334 |
| Montana | $345 |
| Nebraska | $347 |
| Nevada | $317 |
| New Hampshire | $204 |
| New Jersey | $259 |
| New Mexico | $266 |
| New York | $378 |
| North Carolina | $419 |
| North Dakota | $201 |
| Ohio | $330 |
| Oklahoma | $339 |
| Oregon | $323 |
| Pennsylvania | $320 |
| Rhode Island | $479 |
| South Carolina | $439 |
| South Dakota | $241 |
| Tennessee | $404 |
| Texas | $351 |
| Utah | $261 |
| Vermont | $222 |
| Virginia | $317 |
| Washington | $243 |
| Washington, D.C. | $316 |
| West Virginia | $330 |
| Wisconsin | $196 |
| Wyoming | $183 |
Cheap renters insurance with bad credit
At $242 a year, Amica is the cheapest company for renters insurance if you have poor credit. Because poor credit is correlated with a high risk of claims, insurance companies charge more to those with bad credit.
Take a look at the cheapest companies for renters insurance with poor credit below, keeping in mind that the cheapest may be a smaller regional company not listed.
| Company | Average annual cost | Average monthly cost |
|---|---|---|
| Amica | $242 | $20 |
| Progressive | $387 | $32 |
| State Farm | $402 | $33 |
| Allstate | $419 | $35 |
| Nationwide | $424 | $35 |
| American Family | $582 | $49 |
| Erie Insurance | $666 | $55 |
| Farmers | $727 | $61 |
| Travelers | $1,268 | $106 |
| Auto-Owners | $4,960 | $413 |
| USAA | $625 | $52 |
How to get cheap renters insurance
You can lower renters insurance costs by taking the time to find the best deal. Try these tips to save on renters insurance:
- Ask about discounts. Many homeowners insurance discounts are also available for renters insurance. “One of the biggest discounts is the auto and renters bundling discount. If you already have an auto insurance policy and add a renters insurance policy under the same insurance provider, that will likely trigger a discount. In many cases, this discount can cover most if not all of the renters policy premium, essentially giving you the renters coverage for a very low cost," GEICO insurance agent Eric Vaden says.
- Compare multiple quotes. Whether you’re looking for the cheapest renters insurance for an apartment or a house, the best way to save on your renters insurance is to shop around. A renters insurance quote comparison should include three to five companies to help you find the lowest price on renters insurance.
- Consider a higher deductible. Carrying a bigger deductible means lower rates; just ensure you can afford it if you need to pay it.
Methodology
Insurance.com commissioned renters insurance rates through Quadrant Information Services for coverage of $40,000 in personal property, $300,000 in liability and a $1,000 deductible. Rates were fielded across all states and from 85 insurance companies. Content is updated for 2025.
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