Renters Insurance

Who Has the Cheapest Renters Insurance Quotes in Austin?

Who Has the Cheapest Renters Insurance Quotes in Austin?

Compare Cheap Renters Insurance in Austin

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The cheapest renters insurance in Austin is Lemonade, where we found rates of $10 per month — 38% less than the city average.

Renters insurance in Austin costs $19 per month on average. Renters would save $77 per year at Lemonade compared to the typical price.

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To find the best renters insurance in Austin, we collected sample quotes from six top insurers that offer coverage in the city. In addition to the cost of coverage, we also evaluated each company's coverage options and customer service, in order to pick the best options overall.

All our quotes include $30,000 of personal property coverage with a $500 deductible and $100,000 in liability protection.

Cheapest renters insurance companies in Austin

In Austin, the cheapest renters insurance company is Lemonade, with a typical price of $123 per year, or about $10 per month. The next-lowest option is Amica, which has prices nearly 50% higher, or about $15 per month.

Graph showing which companies are the most affordable for renters insurance in Austin, Texas

The average price of insurance in the city is about $17 per month, or $200 per year. That's 9%, or about $19 per year, cheaper than the statewide cost of renters insurance in Texas.

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Company
Monthly cost
Lemonade logo
Lemonade$10
Amica logo
Amica$15
Nationwide logo
Nationwide$16
Farmers logo
Farmers$17
Travelers logo
Travelers$18
Allstate logo
Allstate$23

Best renters insurance for most people: Lemonade

Lemonade has the best rates for Austin renters, and its app makes managing your policy a breeze. Read our full review
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The good:

  • Best prices in Austin
  • Easy-to-use app

The bad:

  • Difficult to reach a person for customer service

Lemonade is our top pick for renters insurance in Austin and the cheapest option available in the city. We found a typical price of just $10 per month — 38% less than the average rate across all insurers, and $60 less than the next-cheapest option, Amica.

Lemonade also makes it straightforward to buy and manage your policy. Signing up online or through Lemonade’s app is easy and convenient.

Overall, Lemonade's customer service is fairly strong. It receives fewer complaints than the average insurer, according to the National Association of Insurance Commissioners (NAIC), meaning customers are generally happy with their service.

Lemonade’s biggest downside is its online-focused business model means it can be difficult to get in touch with a person, compared to other insurers. Additionally, Lemonade doesn't currently offer car insurance in Texas. That means you might be missing out on a bundle discount, as well as the convenience of managing all your policies in a single place.

Best customer service: Amica

Amica has top-notch service for a few dollars more than our top pick.

Read our full review

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The good:

  • Better-than-average rates
  • Highly-rated service

The bad:

  • Limited range of extra coverages
  • No in-person offices

For renters willing to pay a little more for the best service, we recommend Amica. It has a well-earned reputation for sterling customer service, while still offering renters insurance at an affordable price point.

Amica costs about $15 per month, or $183 per year. That's $60 more per year than our top pick, but still 8% cheaper than the average price we found in Austin.

Amica customers are overwhelmingly likely to be happy with the service they receive. Amica received about one-eighth as many complaints as a typical insurance company, as the NAIC gave it a complaint index of just 0.12.

However, Amica doesn't operate any insurance agencies, meaning you'll still manage your policy online or over the phone.

Best coverage options: Nationwide

Nationwide has lots of coverage options for those looking for extra protection.

Read our full review

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The good:

  • Lots of coverage options

The bad:

  • Average rates
  • Mediocre service

Renters looking for coverage options beyond the basics should look at Nationwide, which offers some protections you might not find at other insurers.

While most insurers offer coverage options that protect you against things like fire, theft and a liability lawsuit, Nationwide also offers extras like water backup coverage, valuable items coverage and identity theft protection.

However, we found prices and service at Nationwide to be mediocre overall. Its price of $16 per month is barely less than average, and its customer service was rated below that of our other picks.

Why Austinites need renters insurance

There are many reasons for needing renters insurance, and Austinites are especially likely to face a few.

Fire

In downtown Austin, fires are among the most common claims, with each incident costing $30,000 on average. An apartment fire that destroys your furniture, beds, wardrobe and appliances can add up, which is how fire claims can become expensive. A renters insurance policy ensures you'd be able to replace your stuff if your apartment caught on fire.

Theft

Theft is the most common claim in downtown Austin, where claims averaged about $2,500. Renters insurance policies shield you from both robbery inside your home and theft outside it. Having a renters insurance policy gives you the peace of mind of not having to worry about your stuff being stolen and not being able to replace the items.

Water Damage

Water damage is a common and very costly claim for Austinites. Whether it's your forgetting about your bathtub running, or a pipe bursting, water can ruin all of your belongings. With a renters insurance policy, you can worry less about these unforeseeable events.

Methodology

To evaluate the best renters insurance in Austin, we collected sample rates from six of the top insurers available in the city.

We collected quotes based on the following coverage limits:

Coverage
Limit
Personal property$30,000
Personal liability$100,000
Medical payments$1,000
Loss of use$9,000
Deductible$500

To evaluate quality, we considered each company's NAIC complaint score, as well as its ratings by J.D. Power and AM Best, if available.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.