The Best and Cheapest Renters Insurance in Arizona for 2022: Rankings, Reviews and Rates

Cheap Renters Insurance Companies in Arizona

Customers typically look to save money while purchasing a renters insurance policy. In Arizona, the two cheapest providers are Lemonade and USAA, as they both have average rates of $ 8 per month or $ 90 a year. USAA ’ randomness services are only available for military members and their families, but its policies offer excellent rate as they include successor monetary value coverage. The next most low-cost provider is State Farm, with an average annual rate of $ 100. MoneyGeek computed the average annual and monthly rates of renters policy companies in Arizona for policies that offer personal property coverage of $ 20,000, indebtedness coverage of $ 100,000 and a deductible of $ 500. The prices are based on multiple ZIP codes across Arizona.

personal Property coverage : $ 20,000 scroll for moreswipe iconInsurance Rates

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Best Renters Insurance Companies in Arizona

other than finding big prices, most customers want a carrier that they know will quickly and reasonably pay out their claims. To select the best renters insurance companies in Arizona, MoneyGeek ranked companies on three factors : customer avail scores from J.D. Power and Associates, fiscal stability ratings from AM Best and singular price data. Based on these criteria, State Farm is the best wide available insurance company in Arizona, with a mark of 94 out of 100. USAA received a perfect score, but you ‘ll merely qualify for a policy if you ‘re a stream or erstwhile member of the military .


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5/5 Affordability 5/5 User Satisfaction 5/5 fiscal constancy More About USAA A standout feature of USAA ‘s plans is the inclusion of earthquake and flood coverage in the standard package. Customers besides have the choice to exclude personal property or personal liability coverage in their policy. USAA members can get benefits like travel deals and car rental discounts. 2


score :


There are no ratings for this company

More About Lemonade Lemonade ‘s basic coverage includes indemnity against wrong from vandalism, larceny, explode pipes or burn. addition coverages include extra protection for electronic devices and earthquake and body of water backup coverage. Pros of Lemonade ‘s coverage are low premiums, customizable policies and quick call serve. 3

State Farm

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4.9/5 Affordability 4.1/5 User Satisfaction 5/5 fiscal stability More About State farm optional State Farm coverages include incidental business liability, extra business property, earthquake damage, identity restoration and extra indebtedness. State Farm offers more coverage features than most early providers, and their monthly rates are close to the diligence average. 4


score :


4.8/5 Affordability 4.2/5 User Satisfaction 4.5/5 fiscal constancy More About Allstate Allstate shoppers can add optional coverage such as personal umbrella policy, flood tide insurance, identity restoration coverage and scheduled personal property. Allstate stands out for its discounts, high claims gratification, excellent fiscal forte and useful on-line resources and tools. 5

American Family

score :


4.7/5 Affordability 4.2/5 User Satisfaction 4/5

fiscal stability More About american Family apart from standard renters indemnity coverage, American Family offers add-ons such as bicycle coverage, home-based commercial enterprise coverage, travel protective covering, favored insurance and identity larceny protection. american Family differentiates itself with its competitive prices, a wide range of indemnity options and solid customer ratings.

Largest Renters Insurance Companies in Arizona

The trace insurance companies have the highest grocery store partake in Arizona : State Farm ( 17 % ), Farmers ( 12 % ), USAA ( 9 % ), Liberty Mutual ( 9 % ) and american english Family ( 9 % ). It ’ s advisable to buy a renters policy policy from a boastfully and authentic provider, as it is more likely to be financially stable and efficiently pay claims .

  • company market partake
  • 1. state farm 17.4 %
  • 2. Farmers 12.1 %
  • 3. USAA 9.3 %
  • 4. Liberty Mutual 8.7 %
  • 5. American Family 8.7 %
  • 6. Allstate 8.5 %
  • 7. Travelers 5.2 %
  • 8. hartford 2.3 %
  • 9. CSAA 2.1 %
  • 10. Chubb 1.8 %

Average Cost of Renters Insurance in Arizona



renters insurance is equal to the median. The annually average price of renters policy in Arizona is $ 147, which is $ 12 cheaper than the U.S. modal of $ 159. These costs are for a plan that includes personal property coverage of $ 20,000, liability coverage of $ 100,000 and a deductible of $ 500. You can compare renters policy quotes to find the cheapest provider for your needs. In Arizona, you can save about $ 150 a year by opting for the most low-cost carrier, Lemonade, over the most expensive caller, Travelers.

What Factors Impact Renters Insurance Cost in Arizona

The come important factors play a large function in determining your average renters indemnity cost in Arizona :

  • Credit Score: Carriers consider your credit score while calculating your premium. They have assessed that people with poor credit scores are more likely to file claims. Therefore, they charge these drivers higher rates. On the other hand, if your credit score is strong, you can qualify for discounts.
  • Replacement Cost Value (RCV) vs. Actual Cash Value (ACV): RCV packages cover the costs of a new item of the same type and quality. ACV plans calculate your property’s depreciation over time, so they pay less for your used items. RCV policies are costlier, but their claim payouts are higher, while ACV packages are cheaper because they don’t pay out as much.
  • Deductible: The deductible is the cost you have to pay to get your claim paid. Policies with higher deductibles have lower premiums, as you need to pay more out of pocket for a claim.
  • Coverage Amount: If you opt for additional coverage features, your renters insurance premium will be higher.
    Location: Areas with higher crime rates and more dangerous weather events have higher renters insurance premiums.

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Renters Insurance in Arizona : What You Need to Know

Buying renters insurance is smart because it is an cheap way to safeguard your property from unexpected disasters. In Arizona, the average rent price is $ 1,101 per month, and about 34 % of residents are renters. meanwhile, the median monthly renters indemnity premium is $ 12 for a standard policy with $ 20,000 in personal place coverage, $ 100,000 in liability coverage and a $ 500 deductible. In other words, renters insurance costs about 1 % of monthly rend payments in this state.

What Renters Insurance Typically Covers in Arizona

prospective customers should understand what their renters indemnity design in Arizona covers before they buy it. A standard package covers personal property, checkup payments, extra living expenses and liability policy. In Arizona, personal property indemnity broadly covers damages caused by extreme weather events like tornadoes, wildfires and more.

What Renters Insurance Typically Does Not Cover in Arizona

The follow items and events are typically not covered by renters policy :

  • Expensive Items: High-end and valuable items are normally excluded. You’d have to buy add-on coverage to protect them.
  • Roommate Property: Your roommate has to get their own renters insurance coverage, as your policy does not protect their property.
  • Structural Damage: Damage to the property’s frame and structure is not covered, but this is your landlord’s responsibility anyway.
  • Earthquake Damage: Usually, renters insurance does not include earthquake coverage, and a rider is needed to cover this event.
  • Flooding: Insurers typically exclude flooding due to natural disasters. If you’re concerned about flooding in your area, you can get flood insurance through the National Flood Insurance Program (NFIP).

Before paying for your policy, read the details and get clarifications from the supplier on what precisely is covered. This can help you make successful claims when needed.

FAQs About Renters Insurance in Arizona

Renters indemnity is not a legal necessity in Arizona, but many landlords stipulate it in their lease contract .

Though it ’ s not legally compulsory, it ’ south smart to get renters indemnity, as it offers security for your valuable place at an low-cost rate .

Yes, landlords in Arizona have the right to ask for proof of a renters insurance policy from tenants .

As per MoneyGeek ’ s research, $ 12 is the average monthly cost of an policy policy for $ 20,000 in personal property coverage and $ 100,000 of indebtedness coverage .

lemonade is the most low-cost renters indemnity supplier in Arizona. Its policy costs an average of $ 8 per month or $ 90 a year .

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Renters Insurance in Arizona Analysis: Methodology

MoneyGeek analyzed renters insurance premiums from nine of the top indemnity companies in Arizona, provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Arizona. Quotes were gathered for policies with personal property coverage of $ 20,000, $ 50,000 and $ 100,000, liability coverage of $ 100,000 and a deductible of $ 500. About the Author

expert-profile The MoneyGeek column team has decades of combine feel in publish and publish information about how people should manage money and credit. Our editors have worked with numerous publications including The Washington Post, The Daily Business Review, HealthDay, and Time, Inc., and have won numerous journalism awards. Our talented team of contributing writers include mortgage experts, veteran fiscal reporters, and award-winning journalists. Learn more about the MoneyGeek team .

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Category : Finance

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