Best renters insurance
Renters insurance covers your belongings, your liability if someone is hurt or their property is damaged, and extra living costs if your home becomes unlivable. Prices depend on your state, coverage and deductible, so we compare what each insurer publishes and how to get comparable quotes.
Advertiser disclosure: links on this page go straight to each issuer’s or insurer’s own site. We don’t earn a commission from any product on this page, and no company paid to be included or to be placed higher. Commissions never affect which products we include or how we order them. How we make money.
How this page was made: it’s built from each provider’s own terms, rate and fee pages and from regulator sources, all listed at the bottom. We haven’t opened these accounts or products to test them, and we don’t give scores. Every rate shows the day we checked it. Our methodology.
Quick answer
Short answer: get at least three quotes with the same personal property limit, liability limit and deductible. NAIC says premiums average $15 to $30 a month depending on location and coverage. Lemonade and Allstate advertise quotes from $5 a month (Nov 10, 2026). Choose replacement cost coverage, and remember flood isn’t covered by standard policies.
Last updated Prices checked Nov 10, 2026
Key facts at a glance
| Pick | Product | Best for | Key terms |
|---|---|---|---|
| Fast online policy and app | Lemonade renters insurance | Buying and managing a policy entirely online | From $5/month (insurer’s advertised starting price; Lemonade says its US average is around $16/month as of 2026) as of Nov 10, 2026 |
| Local agent | State Farm renters insurance | People who want an agent | About $13/month (State Farm citing an NAIC survey, for about $34,000 in coverage limits) as of Nov 10, 2026 |
| Available in all 50 states | Allstate renters insurance | Availability in any state | From $5/month (insurer’s footnote: national average lowest monthly premium; varies by state) as of Nov 10, 2026 |
We read each insurer’s renters page and the NAIC’s[1] renters insurance guidance on Nov 10, 2026. Insurers’ “starting at” prices are marketing figures and averages, not quotes; your premium depends on where you live and what you choose. We don’t rank insurers by price, haven’t checked claims satisfaction or financial strength ratings, and have no affiliate relationship with any insurer here. Availability and coverage vary by state; for help, contact your state’s department of insurance.
Our picks
How do they compare?
| Insurer | Published price figure | Floods | Notes |
|---|---|---|---|
| Lemonade | From $5/month (insurer’s advertised starting price; Lemonade says its US average is around $16/month as of 2026) as of Nov 10, 2026 | Not covered; earthquake can be added in some states | Cancel anytime with a prorated refund and no cancellation fee; multi-policy discount |
| State Farm | About $13/month (State Farm citing an NAIC survey, for about $34,000 in coverage limits) as of Nov 10, 2026 | State Farm doesn’t offer flood insurance; most flood coverage is through the NFIP | Coverage for personal property, liability and loss of use |
| Allstate | From $5/month (insurer’s footnote: national average lowest monthly premium; varies by state) as of Nov 10, 2026 | Not typically covered; Allstate says it may require separate coverage | Available in all 50 states |
| Progressive | $13–$27/month (average through Progressive, per its 2025 data) as of Nov 10, 2026 | Won’t cover water damage due to flooding | Policies provided by affiliated and third-party insurers |
The picks in detail
1. Lemonade renters insurance
Best for: Buying and managing a policy entirely onlineLemonade says its renters quotes start at $5 a month and its US average is around $16 a month as of 2026, depending on location, limits and deductible. Coverage includes personal property, personal liability and loss of use (temporary housing if your home becomes unlivable). Floods and earthquakes aren’t covered, though earthquake coverage can be added in some states. You can cancel anytime in the app with a prorated refund and no cancellation fee. Lemonade is available in a growing number of states, not all; check its site for yours. Property and casualty insurance is provided by Lemonade Insurance Company and Metromile Insurance Company.
Key terms: From $5/month (insurer’s advertised starting price; Lemonade says its US average is around $16/month as of 2026) as of Nov 10, 2026 Lemonade terms
Pros
- Online quotes and cancellation
- Published average price
- Multi-policy discount
Cons
- Not available in every state
- No flood coverage
2. State Farm renters insurance
Best for: People who want an agentState Farm’s page lists personal property, liability and loss of use coverage, and cites an NAIC[1] survey putting renters insurance at about $13 a month for about $34,000 in coverage limits. It says it doesn’t offer flood insurance and that most flood coverage is written through the National Flood Insurance Program, though an agent can probably help you get it.
Key terms: About $13/month (State Farm citing an NAIC survey, for about $34,000 in coverage limits) as of Nov 10, 2026 State Farm terms
Pros
- Agent support
- Bundle discounts advertised
Cons
- No State Farm flood policy
- No State Farm price figure of its own on the page
3. Allstate renters insurance
Best for: Availability in any stateAllstate says coverage is available in all 50 states, with policies from $5 a month (its footnote says that’s the national average lowest monthly premium for one Allstate company, and actual premiums vary by state). Policies cover personal property, family liability, guest medical and additional living expenses. Allstate says floods and earthquakes typically aren’t covered and may require separate coverage.
Key terms: From $5/month (insurer’s footnote: national average lowest monthly premium; varies by state) as of Nov 10, 2026 Allstate terms
Pros
- All 50 states
- Guest medical coverage listed
Cons
- $5 figure is a lowest-premium average, not a typical price
4. Progressive renters insurance
Best for: Bundling with Progressive autoProgressive says the average cost of renters insurance through it ranges from $13 to $27 a month (its 2025 data). Its renters policies are provided and serviced by affiliated and third-party insurers, so the company on your policy may not be Progressive. It lists liability and loss of use coverage and advertises an average bundle saving on auto in most states. It says a renters policy won’t cover water damage due to flooding.
Key terms: $13–$27/month (average through Progressive, per its 2025 data) as of Nov 10, 2026 Progressive terms
Pros
- Bundle discount with auto
- Published average range
Cons
- Policy may be from a third-party insurer
Also considered
USAA’s renters page returned “Page Not Found” when we checked on Nov 10, 2026, so it isn’t included.
What renters insurance covers
The NAIC[1] says most policies provide three types of coverage: personal property (repairing or replacing belongings that are damaged, destroyed or stolen), liability (if a guest is injured or you accidentally damage someone else’s property), and additional living expenses if you can’t live in your home after a covered loss. Many policies also cover belongings outside your home, such as items stolen from your car or a hotel room. Your landlord’s insurance won’t cover your personal items.
Actual cash value vs. replacement cost
The NAIC’s[1] example: a five-year-old computer that cost $2,000 might be worth $500 today. Actual cash value coverage would pay about $500; replacement cost coverage would pay for a similar new computer. Ask each insurer which one a quote uses.
How to compare quotes
- Estimate what it would cost to replace your belongings.
- Ask each insurer for the same personal property limit, liability limit and deductible so the prices are comparable.
- Ask about discounts. The NAIC[1] says many insurers offer them for alarms, extinguishers, sprinklers, deadbolts, multiple policies or no prior claims.
- If you live in a flood-prone area, price flood coverage separately.
Who should skip this
- Your belongings are already covered. The NAIC[1] notes that students under 26 in on-campus housing may be covered under a parent’s policy, up to a limit; check before buying.
- You need flood protection. A standard renters policy won’t provide it; ask about a separate flood policy.
Frequently asked questions
How much does renters insurance cost?
Does renters insurance cover floods?
Is renters insurance required?
What’s the difference between actual cash value and replacement cost?
Do you earn money from these insurers?
Sources
Every source below was opened and read for this page (rates last checked Nov 10, 2026). Providers’ own pages are labeled with the provider’s name; regulator pages are labeled with the agency. Rates and terms change often, so confirm on the provider’s site before you apply.
- NAIC: Do I need renters insurance? (Consumer Insight) (content.naic.org, checked Nov 10, 2026)
- Lemonade: Renters insurance (lemonade.com, checked Nov 10, 2026)
- State Farm: Renters insurance (statefarm.com, checked Nov 10, 2026)
- Allstate: Renters insurance (allstate.com, checked Nov 10, 2026)
- Progressive: Renters insurance (progressive.com, checked Nov 10, 2026)