Best Renters Insurance Companies of 2026
Renting always comes with a few surprises. The real question is whether your insurance covers them. We cut through the jargon and compare coverage, claims, and cost so you can choose the right renters policy for your apartment with confidence.
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We analyzed 18 renters insurance carriers and narrowed them to the six below. Our editorial team compared each one on what renters actually care about: what the policy costs, how fast a claim gets paid, how easy it is to buy and manage, how much you can tailor the coverage, and how financially solid the company behind it is. Every score, price and rating on this page comes from public data we checked ourselves, and the weights we used are printed in the methodology so you can see exactly why each carrier sits where it does.
Lemonade
#1Lemonade is the renters product built around the two things renters buy on: price and speed. Policies start at $5 a month, an average premium of $118 a year is well under the $151 national average, and you can be covered in about 90 seconds from the app with no phone call. Claims are filed by tapping a button, and Lemonade says about 40% are handled instantly, with its claims expense ratio at a record-low 5% in mid-2026. Replacement cost is the default, and Extra Coverage adds scheduled items with no deductible. Bundling renters with a Lemonade pet or car policy earns a discount, and the Giveback program donates unclaimed premiums to a charity you choose rather than keeping them. The honest downsides: the complaint index runs around 3.5, far above expected, its 2025 J.D. Power renters score of 661 slipped below the 668 average, and it carries a Demotech A rating rather than an AM Best rating. It also does not cover roommates on one policy. Now in 45 states plus DC after adding Maine, Vermont and Kansas in 2026.
Pros
- • Policies from $5 a month; average premium of $118 a year vs $151 national
- • About 40% of claims handled instantly through the app
- • Quote and buy in about 90 seconds, cancel any time in the app with a prorated refund
- • Replacement cost is standard; Extra Coverage schedules jewelry, cameras, bikes and instruments with no deductible
Cons
- • NAIC complaint index around 3.5, far more complaints than expected
- • 2025 J.D. Power renters score of 661, just below the 668 average and down from 2024
- • No AM Best rating; rated A (Exceptional) by Demotech
- • Roommates are not covered on one policy; no agents
Amica
#2Amica ranked first in the 2025 J.D. Power renters study with 711 points, 43 above the average, and its complaint index of 0.37 is among the lowest anywhere. Claims can be filed on the website, in the app, by phone 24 hours a day or by live chat, and dividend policies refund up to 20% of your premium in the states that allow them. AM Best rates it A+ and moved its outlook back to stable in March 2026. It is not the cheapest: Amica quotes $13 to $30 a month, replacement cost is an add-on rather than standard, and there are no local agents. Not sold in Alaska or Hawaii.
Pros
- • #1 in the 2025 J.D. Power renters study (711 vs 668 average)
- • Complaint index of 0.37
- • Dividend policies refund up to 20% of premium in some states
- • Claims by website, app, 24/7 phone or live chat
Cons
- • Amica's own price range of $13 to $30 a month is above the cheapest carriers
- • Replacement cost is an add-on, not standard
- • No local agents; not sold in Alaska or Hawaii
Erie
#3Erie pairs a below-average price, an average of $142 a year, with the second-highest satisfaction score in the 2025 J.D. Power renters study at 705, and replacement cost is included as standard. Its complaint index of 0.46 is very low, and a multi-policy discount applies when you add Erie auto. The trade is the buying experience: Erie sells only through local independent agents, does not quote online, and does not take claims online, so everything runs through your agent or the 24-hour phone line. It operates in 12 states plus DC, and AM Best lowered its rating from A+ to A in September 2025.
Pros
- • Average premium of $142 a year, below the national average
- • #2 in the 2025 J.D. Power renters study (705)
- • Replacement cost standard; sewer backup, home-sharing and identity recovery add-ons
- • Complaint index of 0.46
Cons
- • Only 12 states plus DC
- • No online quotes and no online claims; agents only
- • AM Best downgraded Erie from A+ to A in September 2025
Travelers
#4Travelers is the safest balance sheet on this page, AM Best A++, and one of the easiest to buy from: quote online in a few minutes, by phone or through an independent agent, then manage it in the MyTravelers app. Bundling with a Travelers auto policy and installing protective devices such as smoke alarms both earn discounts. It made the biggest jump in the 2025 J.D. Power renters study, up 68 points to 663, though that still sits just under the 668 average. Its average premium of $155 a year is a touch above the national figure, replacement cost is an upgrade rather than standard, and there are no policies in Alaska, Florida, Hawaii, Louisiana or West Virginia.
Pros
- • AM Best A++
- • Quote online in minutes, by phone or through an agent; app for claims and management
- • Biggest gain in the 2025 J.D. Power renters study, up 68 points
- • Identity fraud cover up to $25,000 and a personal articles floater
Cons
- • 2025 J.D. Power score of 663, just below the 668 average
- • Average premium of $155 a year, slightly above the national average
- • Replacement cost costs extra; not sold in AK, FL, HI, LA or WV
Nationwide
#5Nationwide climbed 60 points to 687 in the 2025 J.D. Power renters study, fourth overall, and it sells almost everywhere through agents, online or by phone with an app for claims. Multi-policy, protective-device and claims-free discounts are available, with the biggest saving from bundling with Nationwide auto. Coverage is easy to build up: Brand New Belongings adds replacement cost, Valuables Plus schedules high-value items, and identity theft cover goes to $25,000. It is the most expensive mainstream option here, an average of $193 a year against a $151 average, and its complaint index of 1.34 is above expected. AM Best affirmed its A rating in November 2025.
Pros
- • 687 in the 2025 J.D. Power renters study, fourth overall and up 60 points
- • Sold in 46 states plus DC through agents, online and phone
- • Brand New Belongings replacement-cost add-on, Valuables Plus, identity theft up to $25,000
Cons
- • Average premium of $193 a year, the highest here
- • Complaint index of 1.34
- • Replacement cost is an add-on
Liberty Mutual
#6Liberty Mutual is easy to buy from, online in a few minutes, by phone, through an agent or in the app, and its Blanket Jewelry add-on covers valuables with no deductible or appraisal. The advertised $5 a month applies only to existing auto customers in some states, and Liberty Mutual does not share rate data, so we cannot show a comparable average. It tied for eighth in the 2025 J.D. Power renters study at 661, below the 668 average, complaint volume runs above average, replacement cost is optional, and it is not sold in Alaska, California, North Dakota, South Dakota or Wyoming.
Pros
- • Quote online in minutes, by phone, through an agent or in the app
- • Blanket Jewelry add-on with no deductible or appraisal
- • Deductibles from $250 to $7,500
Cons
- • $5 a month applies only to existing auto customers in some states; no published average
- • 661 in the 2025 J.D. Power renters study, below average, with above-average complaints
- • Replacement cost optional; not sold in AK, CA, ND, SD or WY
Among the 18 carriers we evaluated: Assurant, American Family, Farmers, State Farm, Allstate, USAA, Jetty, Goodcover, Sure, Effective Coverage, Country Financial and others.
Quick Comparison
| Provider | Score | Monthly | Availability | J.D. Power 2025 | Financial | Best For | |
|---|---|---|---|---|---|---|---|
| #1 Lemonade | 4.4 | from $5 | 45 states + DC | 661 | Demotech A | Best Price and Fastest Claims | Get Quote |
| #2 Amica | 4.0 | $13-$30 | 48 states + DC | 711 | A+ | Best Customer Satisfaction | Get Quote |
| #3 Erie | 3.7 | $12 | 12 states + DC | 705 | A | Best Value Where Available | Get Quote |
| #4 Travelers | 3.6 | $13 | 45 states + DC | 663 | A++ | Widest Availability, A++ | Get Quote |
| #5 Nationwide | 3.4 | $16 | 46 states + DC | 687 | A | Rising Satisfaction, National | Get Quote |
| #6 Liberty Mutual | 3.3 | from $5* | 45 states + DC | 661 | A | Online Quoting Plus Agents | Get Quote |
How we ranked the best renters insurance
Renters buy on price and speed, so those two criteria carry more than half the weight. Each carrier is scored 1 to 5 on the five criteria below and the weighted total decides the order. Amica and Erie post the highest satisfaction scores in the category and are labeled for it; they rank below Lemonade here because they cost more or are harder to buy, not because they are worse insurers.
Toggle, Farmers' digital renters brand, is not ranked. As of 2026 its own website says it is winding down and directs new customers to Farmers, and Farmers has stopped renewing Toggle renters policies in most states.
| Criterion | Weight | What we looked for |
|---|---|---|
| Price | 30% | Advertised starting price and NerdWallet's average annual premium for $30,000 of property cover (national average $151) |
| Claims speed and digital experience | 25% | How claims are filed, how fast simple claims pay, J.D. Power 2025 renters satisfaction (average 668) and the NAIC complaint index |
| Ease of buying and managing | 20% | Quote time, online or app purchase, agent access, and how easily you can change or cancel |
| Coverage customization | 15% | Replacement cost as standard or add-on, scheduled items, water backup, identity theft, pet and roommate options |
| Financial strength | 10% | AM Best rating, or Demotech where a carrier has no AM Best rating |
Scorecard
Scores are 1 to 5 per criterion. The total is the weighted sum using the weights above.
| Carrier | Price (30%) | Claims (25%) | Ease (20%) | Coverage (15%) | Financial (10%) | Total |
|---|---|---|---|---|---|---|
| #1 Lemonade | 5.0 | 4.5 | 5.0 | 4.0 | 2.5 | 4.4 |
| #2 Amica | 3.5 | 4.5 | 4.0 | 4.0 | 4.5 | 4.0 |
| #3 Erie | 4.0 | 4.0 | 2.5 | 4.0 | 4.0 | 3.7 |
| #4 Travelers | 3.5 | 3.0 | 4.0 | 3.5 | 5.0 | 3.6 |
| #5 Nationwide | 2.5 | 3.5 | 4.0 | 4.0 | 4.0 | 3.4 |
| #6 Liberty Mutual | 3.0 | 2.5 | 4.5 | 3.5 | 4.0 | 3.3 |
Sources
- Price: NerdWallet average renters premiums, January 2026, for a 30-year-old tenant with $30,000 of property cover, $100,000 of liability and a $500 deductible (national average $151 a year). Carriers that do not share rate data show their own advertised price or "not published".
- Satisfaction: J.D. Power 2025 U.S. Home Insurance Study, renters segment (average 668).
- Complaints: NAIC complaint index, company level, as compiled by Insurance.com, MoneyGeek and Coverage Cat in 2026. An index of 1.00 means the expected number of complaints for a carrier's size; lower is better.
- Financial strength: AM Best rating releases from 2025 and 2026; Demotech for Lemonade, which AM Best does not rate.
- Claims speed: Lemonade's September 2026 statement that about 40% of claims are handled instantly. Buying and coverage details come from each carrier's website and its NerdWallet review.
Last updated: Sep. 3, 2026
Renters Insurance Decision Guide: What You Actually Need to Know
How much cover to carry, what moves the price, and what to expect when you claim.
How much renters insurance do you need?
In 2026, a common rule of thumb is to carry enough personal property coverage to replace your belongings. Many renters choose $20,000 to $50,000 depending on what they own. Liability coverage of $100,000 is standard; $300,000 or more is better if you have assets to protect. Loss of use coverage (additional living expenses) is often 30% of your personal property limit.
What affects your premium?
Location matters a lot. Average renters insurance in 2026 ranges from about $12 per month in low-risk areas to $35 or more in higher-risk or high-cost regions. Your deductible (often $250 to $1,000), coverage limits, and whether you choose replacement cost over actual cash value also affect the price. Discounts for bundling, security devices, or claims-free history can cut 10% to 25% off.
When to increase coverage
Consider higher personal property limits if you have electronics, jewelry, or other high-value items. Scheduled personal property (floaters) may be needed for items that exceed standard sublimits. Increase liability if you have significant savings or assets. If you run a business from home, check whether you need an endorsement or separate policy.
Filing a claim: what to expect
Report the loss as soon as possible. You will need a list of damaged or stolen items; photos and receipts help. The insurer will assign an adjuster and may send one for larger claims. Payment timing varies by carrier and claim type, but many simple claims are settled within a few days to two weeks. Keep copies of all correspondence.
Renters insurance vs. landlord insurance
Landlord insurance covers the building and the owner's liability. It does not cover your belongings or your liability to others. Renters insurance covers your stuff, your liability, and often additional living expenses. You need renters insurance to protect yourself; the landlord's policy does not do that for you.
Switching or canceling your policy
You can switch carriers at any time. Many insurers prorate refunds if you cancel mid-term. There is usually no penalty for canceling renters insurance. If you move, update your address with the insurer; some policies cover you at the new location for a limited time, but you should get a new policy for the new address.
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