Best renters insurance companies
Renters insurance is cheap enough that fit beats price-hunting: how you buy, how claims work, and whether the bundle discount is real. Four major routes, researched from public sources.
Context: the average renters policy costs about $171 per year (III, citing NAIC). At that price level, the comparison that matters most is not brand — it is your property limit, replacement-cost vs. cash-value terms, and the liability limit. Our cost estimator shows what your situation should price at.
| Company | Best for | Our rating | How it sells | Why it is on this list |
|---|---|---|---|---|
| State Farm | Renters who want an agent and a bundle | Not yet rated — see methodology | Agent-led; renters is commonly bundled with its auto policies for a discount. One honest caveat: State Farm has not written new renters policies in California since May 2023. | Among the largest U.S. renters insurers; mutual company, founded 1922, Bloomington, Illinois; AM Best rates its core companies A++ (Superior). Read the full profile |
| Lemonade | Digital-first renters who want it done in minutes | Not yet rated — see methodology | Fully online/app purchase and claims, with adjustable limits and deductibles at signup. Lemonade is structured as a public benefit corporation and runs a Giveback program donating unclaimed premiums to charities its customers choose. | Founded 2015, New York, New York (Lemonade, Inc., NYSE: LMND). The company advertises renters policies starting at $5/month — a marketing floor for minimal limits, not a typical price; the national average is about $171/year. |
| USAA | Military renters (eligibility required) | Not yet rated — see methodology | Direct (online/phone); renters policies are a common first product for junior service members in barracks-adjacent apartments and first rentals. Membership eligibility applies. | Founded 1922, San Antonio, Texas; serves military members, veterans, and their families. |
| Progressive | Bundling renters with a Progressive auto policy | Not yet rated — see methodology | Sold online through Progressive; Progressive-branded renters policies are issued by Homesite Insurance in most states, so the name on your policy documents may differ from the name on the quote. | Progressive was founded 1937, Mayfield, Ohio (NYSE: PGR). Renters underwriting arrangement via Homesite is disclosed on Progressive’s renters pages. |
How we ranked these companies
Rankings here are “best for” fits, not a single overall winner. Inputs, per our methodology: the 5-point evidence check (identity and licensing, pricing transparency, complaint patterns, refund terms, independent evidence), market position and availability, sales model (agent vs. direct vs. marketplace), and documented plan features. Commercial relationships are never an input. Every company shows “Not yet rated” until its full evidence-check profile is published — we do not invent scores to fill a table.
What to do next
Price your situation first
Four inputs in the renters cost estimator beat any 'from $5/month' headline.
Own a dog or host often?
The renters hub explains why liability — not belongings — is often the real reason to buy.
Sources for company facts (checked October 2026): State Farm — founded 1922; California new-policy pause for homeowners/renters lines reported since May 2023 (company statements, widely reported). Lemonade — founded 2015, New York; public benefit corporation and Giveback program per company reporting; '$5/month' is the company's advertised starting price for renters policies. USAA — founded 1922, San Antonio; military-community eligibility. Progressive — founded 1937; renters policies issued by Homesite Insurance in most states per Progressive's renters disclosures. Average premium context: III, citing NAIC ($171/yr).