Cheapest Renters Insurance Deals
Discover 8 deals available this month.
1.State Farm
State Farm offers renters insurance at an average of $14 per month nationwide, with extra savings available when bundled with auto insurance. It provides affordable coverage options tailored for budget-conscious renters.
View Deal →At $14 monthly, State Farm delivers one of the most competitive renters insurance rates nationally, plus potential discounts when combined with auto policies. It's a solid choice for those seeking budget-friendly coverage with bundling perks.
Pros:
- Cheapest renters insurance average rate nationwide at $14/month
- Savings available through bundling with auto insurance
- Widely recognized insurer with broad coverage options
Cons:
- Rates may vary by location and individual factors
- No mention of digital claims processing speed
- Basic pricing may not include all coverage add-ons
2.Lemonade
Lemonade renters insurance averages $16 per month and features instant claims processing with a fully digital experience. It offers competitive pricing along with fast, efficient service.
View Deal →At $16 a month, Lemonade balances affordable pricing with a seamless digital claims process, perfect for those who value tech-driven convenience. Its instant claims handling sets it apart in a competitive market.
Pros:
- Competitive average price at $16 per month
- Instant claims processing for quick resolution
- Fully digital platform enhances user experience
Cons:
- Slightly higher cost compared to some competitors
- No specific bundling discounts mentioned
- Limited info on multi-policy savings or rewards
3.Amica
Amica offers renters insurance with the lowest average monthly rate at $9, starting at $107 annually for $20,000 in personal property coverage. It provides affordable basic protection for renters seeking cost-effective plans.
View Deal →At just $9 per month on average, Amica delivers the most budget-friendly renters insurance option in the U.S., perfect for those prioritizing low-cost coverage. Its straightforward pricing makes it an attractive choice for basic protection needs.
Pros:
- Lowest average monthly rate at $9
- Basic coverage starts at $107 annually
- Covers $20,000 in personal property protection
Cons:
- Limited details on additional coverage options
- No mention of bundling discounts or extras
- May offer only basic protection without advanced features
4.Erie
Erie offers renters insurance at an affordable rate of $14 per month, positioning it among the cheapest options nationwide. It provides budget-friendly coverage without bundling requirements.
View Deal →At $14 per month, Erie delivers one of the most cost-effective renters insurance options available, appealing to budget-conscious renters seeking straightforward coverage.
Pros:
- Affordable monthly premium at $14
- One of the cheapest renters insurance options nationally
- Simple and accessible coverage without extra bundling conditions
Cons:
- No mention of digital claims processing or instant service
- Lacks additional discounts like multi-policy bundles
- Limited information on coverage features compared to competitors
5.American Family
American Family offers renters insurance for an average of $15 per month. It provides standard coverage at a moderate price point.
View Deal →American Family delivers renters insurance at a mid-range price, making it a solid choice for those seeking balanced coverage without the lowest rates available.
Pros:
- Affordable average monthly premium at $15
- Competitive pricing compared to other national providers
- Standard renters insurance coverage included
Cons:
- Not the cheapest option available
- No specific bundling discounts or unique perks mentioned
- Lacks instant claims processing features highlighted by competitors
6.SafeCo
SafeCo offers renters insurance at $234 annually ($19.50 per month) including claims-free rewards and a 15% discount for multiple policies. This pricing provides competitive coverage options among national insurers.
View Deal →SafeCo stands out by rewarding claims-free customers and offering a solid multi-policy discount, making it a practical choice for those bundling insurance. While not the cheapest option available, it balances affordability with perks that benefit long-term policyholders.
Pros:
- Competitive annual premium of $234
- Claims-free rewards for responsible customers
- 15% discount when bundling multiple policies
Cons:
- Monthly cost ($19.50) is higher than some competitors
- No mention of instant claims processing
- Less competitive than the lowest-priced options
7.Assurant
Assurant provides renters insurance for $237 annually ($19.75 per month) with a quick 5-minute online application for fast policy activation. It offers affordable, streamlined coverage with easy digital access.
View Deal →At $237 per year, Assurant offers a straightforward renters insurance option featuring a rapid 5-minute online signup, making it convenient for those who want quick coverage without hassle.
Pros:
- Affordable annual premium at $237 ($19.75 per month)
- Fast policy activation with a 5-minute online process
- Simple and streamlined digital application
Cons:
- Higher monthly cost compared to the cheapest providers like Amica or State Farm
- No mention of bundling discounts or rewards
- Limited details on coverage options or claims process
8.Allstate
Allstate offers renters insurance with rates starting as low as $4 per month in some areas, with discounts available when bundling with auto insurance. Pricing and discounts vary by location.
View Deal →At rates beginning around $4 monthly, Allstate provides one of the lowest-cost renters insurance options available, especially beneficial if you combine it with auto insurance for additional savings.
Pros:
- Rates as low as $4 per month in select locations
- Discounts available when bundled with auto insurance
- Affordable entry point for renters insurance coverage
Cons:
- Lowest rates may only be available in specific areas
- Pricing and discounts can vary significantly by location
- Less information on claims processing or digital features compared to competitors
Final Words
To secure the best renters insurance deal this February, take time to compare rates and coverage options from top providers like Amica, State Farm, and Lemonade. You can explore current offers online to find affordable protection that fits your needs and budget.
Frequently Asked Questions
State Farm offers renters insurance at an average of $14 per month nationwide, making it the cheapest nationwide option. Additional savings are available by bundling renters insurance with auto insurance, helping customers lower their overall costs.
Yes, State Farm provides extra savings when you bundle your renters insurance with auto insurance. This bundling discount makes it an even more affordable choice for renters seeking comprehensive coverage.
State Farm offers affordable coverage options that are designed to fit different budgets. Their pricing and bundling options help renters access necessary protection without overspending.
Lemonade offers renters insurance at a competitive average rate of $16 per month. They also provide fast, digital claims processing for customer convenience.
Amica offers the lowest rates at an average of $9 per month, with basic coverage starting at $107 annually for $20,000 in personal property protection.
Yes, SafeCo offers a 15% multi-policy discount along with claims-free rewards. This can help reduce the overall cost if you bundle renters insurance with other policies.
