Renters insurance may require only a few dollars per month, yet it has the potential to be a financial lifesaver in the event of property damage or a home intrusion.
To identify the top renters insurance companies in Arizona, we gathered numerous quotes from leading insurers in the state.
Additionally, we meticulously analyzed customer service data sourced from J.D. Power and the National Association of Insurance Commissioners (NAIC).
Most Affordable in Arizona Lemonade Tops the List Ideal for Most Individuals Amica Takes the Lead in Customer Service
Tips for Budget-Friendly Renters Insurance in Arizona
Lemonade stands out as the most budget-friendly option for renters insurance in Arizona, with an average monthly rate of just $11.
This is $7 less than the state’s average, potentially saving you 58%, equivalent to over $180 annually.
The average cost of renters insurance in Arizona rests at $18 per month or $211 annually, making it 2% cheaper than the national average of $215 per year.
Graphical representation highlights the most economical renters insurance companies in Arizona.
Compare and find affordable renters insurance in Arizona.
Enter details like renters, zip code, age, and current insurance status to explore insurers.
For those seeking budget-friendly options, State Farm also provides affordable renters insurance in Arizona, priced at $134 per year—just $4 more per year than Lemonade
Certainly! Here’s the information presented in a tabular format:
List of Most Affordable Renters Insurance Providers in Arizona
| Company | Monthly Cost |
|---|---|
| Lemonade | $11 |
| State Farm | $11 |
| Travelers | $15 |
| Amica | $17 |
| Allstate | $19 |
| Nationwide | $24 |
| Farmers | $26 |
Top Recommendations for Arizona Renters
| Company | Characteristics |
|---|---|
| Lemonade | – Best for Affordability (Average Monthly Rate: $11) |
| – Savings of 58% compared to the state average. | |
| – Seamless online experience with an automated chatbot for quick quotes. | |
| – Expedited claims process with 30% handled instantly, and the fastest claim paid in three seconds. | |
| – Second-best customer satisfaction score by J.D. Power. | |
| Amica | – Best for Customer Service (Average Monthly Rate: $17) |
| – Excellent customer service with fewer complaints compared to other insurers. | |
| – Rates are average among Arizona insurers. | |
| – High ValuePenguin editor rating, considering overall value, coverage options, and customer reviews. | |
| USAA | – Best for Military Families |
| – Outstanding customer service, top score on J.D. Power’s customer satisfaction survey. | |
| – Exclusive to U.S. military members, veterans, and their families. | |
| – Base policy includes extra coverages like replacement cost coverage, flood protection, earthquake protection, and coverage for military uniforms and gear. |
Renters Insurance Costs Across Arizona Cities
| City | Average Annual Cost | Difference from State Average (%) |
|---|---|---|
| San Tan Valley | $202 | -26% |
| Casa Grande | $275 | 30% |
| Avondale | $215 | -4% |
| Buckeye | $215 | -4% |
| Casas Adobes | $221 | -2% |
| Catalina Foothills | $221 | -2% |
Top-Rated Renters Insurance Companies
| Company | Rating |
|---|---|
| Amica | – Receives fewer customer complaints and high editor ratings. |
| USAA | – Excellent customer service, exclusive to military members. |
| State Farm, Lemonade, Nationwide, Allstate, Farmers, Travelers | – Rated based on ValuePenguin editor ratings, NAIC complaint index scores, and J.D. Power’s annual customer satisfaction study. |
Shopping Tips for Renters Insurance in Arizona
| Tips |
|---|
| – Consider affordability, coverage options, and customer service when comparing quotes. |
| – Evaluate the insurer’s reputation based on customer reviews and complaint indexes. |
Renters insurance policies vary in the extra coverage options they offer.
Here are some essential considerations for most Arizona renters:
- Replacement Cost Coverage:
- Provides full reimbursement for damaged or stolen items, without factoring in depreciation.
- Valuables Coverage:
- Covers the loss or damage to valuable items like jewelry, electronics, or musical instruments, which may exceed standard personal property limits.
- Equipment Breakdown Coverage:
- Pays for repairs to appliances and other home equipment, even if the cause is regular wear-and-tear.
- Earthquake Coverage:
- Addresses damages resulting from earthquakes, typically not covered by standard renters insurance.
While evaluating renters insurance providers, it’s essential to ensure they include the following fundamental coverages. If these are not offered, consider exploring alternative insurers:
- Personal Property Coverage:
- Compensates for damage to personal belongings such as furniture, clothing, and electronics.
- Liability Coverage:
- Covers damages for which you are responsible, including injuries sustained by guests in your home.
- Medical Payments Coverage:
- Addresses minor medical expenses incurred by your guests, regardless of fault.
Also read: Cheap Car Insurance Tallahassee FL
Frequently Asked Questions
1. How much does renters insurance cost in Arizona?
- The average cost of renters insurance in Arizona is $211 per year or $18 per month. However, individual rates are influenced by factors such as your city of residence, insurance history, and chosen coverage options.
2. Who offers the cheapest renters insurance in Arizona?
- Lemonade stands out with the most affordable renters insurance rates in Arizona. On average, their policy costs $130 per year or $11 per month.
3. What is the cost of renters insurance in Phoenix, AZ?
- Renters in Phoenix can anticipate paying $21 per month or $252 per year for insurance, which is 12% higher than the state average. Suburbs of Phoenix, including Gilbert, Glendale, Mesa, Scottsdale, or Tempe, have slightly lower policy costs ranging from $18 to $20 per month.
4. Is renters insurance mandatory in Arizona?
- While there is no legal requirement for renters insurance in Arizona, your landlord may mandate you to purchase a policy.
Methodology:
We collected 146 renters insurance quotes from seven major companies across 25 of Arizona’s largest cities.
The quotes were tailored for a 25-year-old male living independently with no insurance claims history, and specific coverage limits were set:
$30,000 for personal property, $100,000 for personal liability, $1,000 for medical payments, $9,000 for loss of use, and a $500 deductible.
Customer service ratings were assessed through our ValuePenguin editor’s rating, J.D.
Power’s annual customer satisfaction survey scores, and data from the National Association of Insurance Commissioners (NAIC) complaint index.