Best and Cheapest Renters Insurance in Texas (2020)
Updated April 13, 2022
Reading time: 5 minutes
To get the best and cheapest renters insurance available in Texas, you're going to want to compare quotes from different companies. We'll show you how.
If everything is bigger in Texas, does that include Texas renters insurance?
The Lone Star State has a lot going on: the beaches of the Gulf, the rolling plains, the striking reds of the desert. There’s something for everyone…including low-cost living. It’s no wonder Texas attracts more than 400,000 new residents every year.
But, because of inclement weather, insurance for renters and homeowners alike is expensive. Lucky for you, there are many ways to save even when costs are high.
Read on to learn how to reduce premiums and find cheap renters insurance quotes deep in the heart of Texas.
And looking to save even more on your insurance costs? Check out Insurify. Compare quotes for home insurance, life insurance, and auto insurance from dozens of leading insurance companies. From Nationwide to Liberty Mutual to Allstate, get your insurance personalized for you in just minutes, without annoying spam calls. Shop with Insurify today!
All renters insurance policies will insure you up to a certain price––often $100,000, $200,000, or even $300,000. The higher your insured coverage level, the more expensive your premiums will be.
A deductible is the amount of money you have to pay out of pocket when you file an insurance claim. The lower your deductible, the higher your monthly premiums––and vice versa.
The greater the value of your belongings, the more expensive your personal property will be to insure. An Austin penthouse owner with a cherished collection of jewelry and racing bicycles will likely pay more for their renters insurance than a studio-dwelling minimalist in El Paso.
Renters living in buildings with more security measures will pay less for their renters insurance, due to a lower likelihood of vandalism or theft.
Renters insurance is often more expensive for those with a low credit score.
Because pets frequently contribute to property damage, a furry friend may raise your renters insurance rates.
In Texas the average cost of renters insurance annually is $253, $68 more expensive than the American average. That higher annual price is likely the result of Texas ’ penchant for natural diasters––hurricanes, flooding, tornados, wildfires, and hurricanes can all be found in the Lone Star state.
Here are a few easy ways to find cheap renters insurance in The Lonestar State.
One of the easiest ways to save on insurance costs is to shop around online and compare quotes.
Shopping for new insurance quotes every six months or after any major life events helps insure you’re getting the lowest premiums and not missing out on potential deals and discounts. Online quote comparison sites like Insurify use cutting-edge AI technology to make the insurance shopping process a breeze.
Unless you live in a big city like Dallas or Houston, most Texans drive: it’s easier to get around the colossal state with a pair of wheels. Bundling with your auto policy is one of the easiest way to get a significant discount on your renters insurance coverage. Some companies offer price reductions as large as 25 percent! Check out top car insurance rates and bundling opportunities with Insurify.
Don’t have a car? Try bundling your policy with a life insurance plan. Many companies offer multi-product discounts, even if those policies aren’t necessarily compatible.
Many insurers will offer discounts on top of their standard coverage if renters install safety devices like sprinklers, burglar alarms, or fire extinguishers in their home.
Not only do these devices help keep you safe, but they also minimize the risk for your insurer.
Insurance providers often provide additional deals if renters are willing to pay automatically or up-front.
Call your insurance agent to see if you may be eligible for any of these simple money-saving discounts.
As one of the most populous states in the U.S., Texas offers a dazzling array of choices when it comes to renters insurance. But here are just a few of the best renters insurance companies for Texas renters.
Only available to U.S. military active service members or veterans and their immediate family, USAA is renowned for its customer service––and its renters insurance product is no exception.
A.M. Best Rating: A++
J.D. Power Ranking: “Among the Best”*
BBB (Better Business Bureau) Rating: A-
As a newer startup using AI to break into the competitive renters insurance market, Lemonade uses its proprietary technology to offer bare-bones renters policies at jaw-dropping rates of as low as $5 per month.
With premiums that cost less than a corn dog at the Texas state fair, Lemonade makes sure that you can afford your ideal San Antonio ranch-style condo and stay safely insured.
A.M. Best Rating: N/A
J.D. Power Ranking: 866/1000
BBB (Better Business Bureau) Rating: B+
As one of the oldest and best-known insurers in the U.S., it won’t surprise you to learn that State Farm renters insurance has received kudos for stellar customer service and quick handling of claims.
Though State Farm is a large insurance agency with millions of customers nationally, their customer service makes customers feel like they’re safe in the hands of a local agent.
A.M. Best Rating: A++
J.D. Power Ranking: 836/1000
BBB (Better Business Bureau) Rating: A+
And that’s just to start your search! Check out some other top renters insurance companies in Texas:
*Because USAA only provides insurance for active or retired service members and their families, it was not found to be eligible for J.D. Power’s thousand-point scoring system.
Many renters assume that their landlord will pay for damages, but this often isn’t the case. Landlords must be found to have personal liability for the damage done to personal property in order to have to pay to replace or repair that property. So a fire started by your downstairs neighbor or a burglar’s break-in often won’t be covered by your landlord’s insurance.
That’s why it’s so important to purchase renters insurance. Renters insurance protects you and your personal belongings from financial loss in a few specific ways. Check out the handy table below to learn more about what renters insurance does and doesn’t cover.
Renters insurance is a type of insurance for those who rent their homes. But what exactly does renters insurance cover?
Renters insurance usually incorporates three primary types of coverage for policyholders: liability coverage, personal property coverage, and additional living expenses (sometimes also known as loss of use ) coverage.
|Coverage Type||What It (Usually!) Covers||What’s (Usually!) Not Covered|
|Liability||Provides liability protection: may cover medical payments, property damage costs, or legal fees if you accidentally damage someone else’s property or a guest hurts themselves in your residence||Any liability costs that exceed your coverage limit, damage to your personal property, additional living expenses|
|Personal Property||The cost to repair (actual cash value ) or replace ( replacement cost coverage ) your personal belongings should they be damaged or stolen||Damage to personal property over your coverage limit, liability damages, additional living expenses, medical expenses|
|Additional Living Expenses||Additional coverage that pays for hotel bills or other living expenses if your current residence is damaged or otherwise not habitable. Sometimes also known as loss of use coverage.||The cost of repairing damage to your rented residence (your landlord’s insurance policy may cover that). Personal liability coverage or personal property damage.|
Of course, these three coverage types aren’t the only coverage options available to renters. There’s a wide world of insurance add-on’s available for the discerning renter, covering eventualities ranging from water damage caused by sewer backups to flood insurance to identity theft.
Everyone’s insurance needs are unique. The key to finding the best renters insurance is to choose a company based on your needs and preferences. What’s right for you will depend on how much insurance coverage you need; the types of coverage options you need; your personal preferences aka what you like about your insurance company; and your budget.
The average annual premium for Texas renters is $232. But, that varies depending on where you live. Premiums are more expensive in urban areas like Dallas, Houston, El Paso, and Austin. Yet several rural areas also face higher premiums. Price fluctuations depend on several factors, like claims rates, crime rates, and weather patterns. Costs fluctuate depending on your deductible, whether you choose actual value or replacement value coverage, extra riders, and discounts. Don't forget: an easy way to save is by bundling with your car insurance policy. Find the best car insurance for your budget in two minutes with Insurify!
If you’re purchasing renters insurance in Texas you’re entitled to a copy of your Consumer Bill of Rights. There are over 40 consumer rights the state government ensures to Texas renters. Review all in this form. Pro tip: Texas law requires insurance companies to send a copy to you whenever you buy a policy.
If you want to avoid entering your information at dozens of insurance provider websites, use Insurify to quickly and easily compare insurance quotes across up to 20 insurance companies. You’ll just need to enter your information one time, and Insurify’s patented artificial intelligence technology will deliver a side-by-side comparison of the cheapest rates for different coverage types. Insurify makes it easy to select the lowest premium for the coverage you need so you can get a policy that fits your budget.
Next time a windstorm or hurricane sweeps through town, make sure that any loss is a covered loss with renters insurance.
Your unique insurance profile doesn’t end with renters insurance. Check out the Insurify blog to learn more about getting the right coverage for you–– without breaking the bank.
And be sure to tell your driving or non-renting friends and family to use Insurify to compare auto insurance, homeowners insurance, and life insurance quotes in mere minutes! With Insurify, you can select different add-ons and levels of coverage to make sure that your insurance policy covers any eventuality.
J.J. Starr is a health and finance writer with a background in banking, lending, and financial advising. She holds a Series 6, FINRA, and life insurance licensure and a master's degree from New York University. Through her writing, she strives to use her decade of experience to help consumers make sound financial choices. Connect with J.J. on LinkedIn.