Who Has the Cheapest Renters Insurance Quotes in Austin?

Find the Cheapest Insurance Quotes in Your Area

Currently Insured?

A majority of Austinites don't carry renters insurance--even though they should. Available for as low as $12 per month, renters insurance can save renters in Austin from the costly dangers of fires, water leaks, and even theft. In this article we discuss who has the best and cheapest renters insurance in Austin.

Cheapest Renters Insurance Companies in Austin

In Austin, the cheapest renters insurance companies were American Mercury and The Hartford. They tied for the top spot with an average annual quote for our sample renter of $125. In contrast the average premium in Austin was $237 per year for the same person. Travelers and Texas Farm Bureau were also affordable options. Texas Farm Bureau does require an annual $50 fee however, if you are not already a member, paying the fee may make it more expensive than some other companies.

The graph shows which companies are the most affordable for renters insurance in Austin, Texas

Find the Cheapest Insurance Quotes in Your Area

Currently Insured?

The quotes above are based on a profiled Austinite with a $1,000 sq.ft apartment getting $25,000 worth of property coverage and $100,000 of liability coverage. We discuss in-depth a couple more notable companies below. The table below lists the average cost of renters insurance for 20+ companies based on quotes for our renter living in Austin:

Company YearlyRenters Insurance Rate
American Mercury$125
The Hartford$125
Travelers$143
Texas Farm Bureau*$151
Auto Club$185
Trumbull$192
State Farm$197
Twin City$200
ASI$202
Progressive$202
Amica Mutual$207
Allstate$208
USAA$214
Allied$214
Garrison Property and Casualty$216
Nationwide$236
MetLife$236
Fire Insurance$251
Safeco$261
Chubb$282
Encompass$307
AIG$348
Unitrin$396
Liberty Mutual$595

*requires $50 membership fee

How Does Pricing Compare Among Austin Neighborhoods?

Renters insurance does not change as drastically within a city as other types of insurance. We profiled five popular neighborhoods in Austin and found the average premium in those cities was roughly on par with the city average.

NeighborhoodRenters Insurance Rate
Garrison Park$237
Downtown Austin$238
Clarksville Historic District$238
Hyde Park$238
Bouldin Creek$238

Best Renters Insurance in Austin

The Hartford

According to the 2016 J.D. Power survey of renters insurance companies, The Hartford ranked as the best insurer for Texans. In particular, policyholders like The Hartford's billing practices, customer interaction and policy offerings. In addition to being tied for the cheapest insurer in the city, Austinites should expect to get a great value at The Hartford.

Texas Farm Bureau

Even though the Texas Farm Bureau comes with a $50 yearly membership fee in Travis County, it is one of the better insurance companies in Austin, for both renters and auto insurance. For those looking for a good company to bundle their policies, and don't qualify for USAA, Texas Farm Bureau is another great affordable option in Austin. TFB also has great benefits for members such as discounts on rental cars, electronics and motor vehicles. More importantly, the TFB has a good track record of not raising rates on a yearly basis to adjust their pricing, meaning you will have a more stable premium so long as your lifestyle remains relatively the same.

USAA

USAA is also another great renters insurance company for military members and their families in Austin--such as those who may frequent Camp Mabry. USAA is not the most affordable option in Austin, but is still below the city average. The trade-off for being slightly more expensive is that coverage under USAA is very comprehensive. It is also convenient to bundle with your auto policy, as auto rates from USAA are generally affordable as well.

Why Austinites Need Renters Insurance

There are many reasons for needing renters insurance. We discuss three vital--and costly--ones that Austinites can face.

Fire

In downtown Austin, fires were the fifth most common claim according to Allstate, with each costing upwards of $30,000 on average. If a fire ravages your apartment destroying all of your furniture, beds, wardrobe and appliances, it is easier to see how fire claims can become so expensive. A renters insurance policy makes sure you'd be able to replace your stuff if your apartment caught fire.

Theft

Theft was 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 was also another common and very costly claim for Austinites. Whether its your forgetting about your bath tub 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.

Sources

Texas Department of Insurance; helpinsure.com
J.D. Power Renters Insurance Study

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