People who live in the US look for different cheap renters insurance. This is one of the most thoughtful ways for a renter or a tenant to secure their belongings from any unprecedented events. 

These events may include – damages caused by fire, theft, or any other calamities. 

However, when choosing renters insurance, users often look for insurers that pay lower rates at higher deductibles. This results in lower premiums from the customer’s end. 

So, if you are looking for any such service, you can go through this article for examples. We have listed several services that require low premiums from the customers. But we have also provided a guideline for you to choose the best renters insurance for the organization. 

How To Get Cheap Renters Insurance?

How To Get Cheap Renters Insurance

Do you want to get renter’s insurance that is cheap? If so, you can follow the different tips provided in this article –

Consider Multiple Options

If you have reviewed one of the renter insurance from only one provider and feel that it is the cheapest one out there, you might be mistaken. You should try getting renters insurance quotes from companies that provide the same service. 

Get a Bundle of policies

Renters insurance is one of the most affordable types of insurance. Some of the insurers offer bundling discounts once you buy multiple policies at once. You can go for policies such as renters and auto insurance. 

Try Adding Security & Safety Devices To Your Home

You might end up paying more than what is necessary for a renter service premium. However, you can reduce that cost by doing other things such as – smoke detectors, sprinkler systems, burglar alarms, or devices, reducing the chances of theft. 

When you have these devices installed, the renter services will require less premium from you. 

Find Out If There Are Other Discounts

Some companies allow you to choose autopay or electronic fund transfer for payment. When you set up autopay or similar ways to make your payments, you will save up some amount of money on your payment. 

There are also discounts available for nonsmoker retirees and receiving the bills electronically. You can enquire to see if the cheap renter service you are choosing offers these discounts. 

Choose A Higher Deductible

Also, if you want to make the renter service cheaper, you must spend a penny from your own pocket. You can save a lot on your premium if you are willing to pay the deductible more than what is usually recommended by the renter service. 

Let’s say you are increasing your deductible amount from $500 to $1000; then, you will be able to save 9%. You should ensure that you can afford to cover the deductible that you want to choose. 

50+ Cheap Renters Insurance Company In The US

50+ Cheap Renters Insurance Company In The US

If you are looking for cheap renters insurance in the US, then here are some of the companies you can check out –

Cheap Renters CompanyStateAverage Annual Cost
Cincinnati InsuranceAlabama$141
State FarmArizona$98
State FarmArkansas$130
Auto Club of SoCal (AAA)California$116
State FarmDelaware$85
Citizens Property InsuranceFlorida$100
The HanoverGeorgia$150
State FarmHawaii$100
Auto Club Group (AAA)Illinois$80
State FarmKansas$93
The HanoverLouisiana$151
State FarmMaine$80
State FarmMaryland$127
Quincy MutualMassachusetts$79
Auto Club Group (AAA)Minnesota$82
State FarmMississippi$160
State FarmMissouri$109
State FarmMontana$72
State FarmNebraska$85
CSAA (AAA)Nevada$124
NationwideNew Hampshire$99
State FarmNew Jersey$78
State FarmNew Mexico$90
NYCMNew York$101
North Carolina Farm BureauNorth Carolina$102
State FarmNorth Dakota$85
Western ReserveOhio$71
State FarmOklahoma$133
State FarmOregon$101
Penn NationalPennsylvania$68
Providence MutualRhode Island$109
ChubbSouth Carolina$105
State FarmSouth Dakota$65
State FarmTennessee$111
Farm Bureau Financial ServicesUtah$83
State FarmVermont$85
Cincinnati InsuranceVirginia$75
AllstateWashington, D.C.$148
State FarmWest Virginia$101
Auto Club Group (AAA)Wisconsin$71

Top 5 Cheap renters insurance

Top 5 Cheap renters insurance

However, if you want to choose the best among the best ones mentioned above, here are few recommendations you can look at.

1. Lemonade

Lemonade, as a cheap renters insurance, provides low premium rates for a high deductible amount of $2500. They use different technologies and allow the customers to quickly generate quotes quickly. Also, their inclusion of artificial intelligence allows the company to settle straightforward claims instantly. 

Average Monthly Cost: $13.33


  • The low deductible rate for a high deductible.
  • Safety devices. 
  • Claims history. 

2. State Farm

State Farm has an even lower monthly cost of $11.00 compared to Lemonade. Their support availability, brand authority, and communication channels make them one of the most recommendable cheap renters insurance companies. 

Average Monthly Cost: $11.00


  • Multi-Policy Bundling.
  • Safety features.

3. All State Renters Insurance

Allstate has great customer ratings with 98.5% ratings. They have outstanding customer service, options for savings, affordability, and taking care of the policyholders and their requirements. 

Average Monthly Cost: $14.17


  • Retired seniors discount.
  • Claim-free history.
  • Autopay.
  • Bundling with an autopay policy for Allstate.

4. Nationwide

The national average monthly premium for Nationwide costs $14.66. This cheap renters insurance covers things such as loss of use, medical expenses, and personal liabilities, etc. It offers an optional feature called Brand New Belongings that covers personal property and cost replacement.

Average Monthly Cost: $14.67


  • Bundling.
  • Claims-free.

5. American Family Renters Insurance

American Family Renters Insurance provides round-the-clock access to their customer support. They boast of having a low number of complaints as a renters insurance company. This indicates that the current policyholders are highly satisfied with their service. 

Average Monthly Cost: $14.42


  • Multi-policy bundling.
  • Generational discount.
  • Smart home.
  • Autopay (full pay and paperless billing).
  • Loyalty discount.

Final Words 

There are multiple cheap renters insurance providing companies in the US. when looking for the most affordable policies among them, you might be intrigued by the low monthly cost of Allstate or the different features of State Farm or other providers. However, the list provided here should help you choose the one you need for your renter’s coverage. 

Did this article help you find the answer you are looking for? Please let us know through the comment section.

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Shahnawaz Alam
Shahnawaz is a passionate and professional Content writer. He loves to read, write, draw and share his knowledge in different niches like Technology, Cryptocurrency, Travel,Social Media, Social Media Marketing, and Healthcare.

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