Renters Insurance

Who Has the Cheapest Renters Insurance Quotes in Houston?

COVID-19 Update: If you're thinking about renters insurance in the context of coronavirus, see below for information.

Up to 57% of renters in Houston do not have renters insurance, which costs just dollars per month, and get several thousand dollars worth of protection against common calamities such as fire and theft. We analyzed the best renters insurance companies in Houston.

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The lowest rate we found in Houston for renters insurance was $12 per month, but the cost of coverage isn't the only factor you should consider when choosing a provider.

Cheapest renters insurance companies in Houston

In Houston, we found American Mercury has the cheapest renters insurance cost, though not by much. We were quoted at American Mercury for $154 for our sample renter. The next cheapest, Asi, was quoted at $175 per year.

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

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The quotes above are based on a profiled Houstonian with a $1,000 sq.ft apartment getting $25,000 worth of property coverage and $100,000 of liability coverage. We discuss which company is better qualitatively in the sections below.

CompanyYearly Renters Insurance Rate
AIG$495
Allstate$352
American Mercury$154
Amica$269
Asi$175
Auto Club$289
Chubb$255
Encompass$424
Fire Insurance$353
Garrison Property$295
Liberty Insurance$923
Metropolitan$255
Nationwide$234
Progressive$197
Safeco$436
State Farm$353
Texas Farm Bureau$200
Travelers$202
United Property$319
United Services$399
Unitrin$352
USAA$299

How much do rates in Houston vary by neighborhood?

Pricing within the city of Houston does not vary much between neighborhoods. Whether you live downtown or in the outer parts of the city, you should expect to pay around $320 to $335 per year for $25,000 worth of coverage.

NeighborhoodRenters Insurance Rate
Downtown$329
Westchase$324
Harrisburg$322
Independence Heights$320
Aldine City$317

How do Houston's rates for renters insurance compare to other cities?

Houston is one of the more expensive places for renters insurance in Texas. Neighboring areas of Houston are also expensive, and in the case of Pasadena, slightly more expensive than Houston itself. It is especially important you shop around for renters insurance to make sure you get the cheapest rate possible.

CityRenters Insurance Rate
Pasadena$332
Friendswood$330
Houston$323
Katy$313
Daingerfield$274

Best renters insurance companies in Houston

The best renters insurance company is the one that gets you the most value. Below we discuss at length a couple companies we feel give you the best value.

State Farm

Even though its a little pricier, State Farm is one of the top renters insurance company for renters in Houston. With State Farm, you are getting the financial stability of the largest insurer in the country. Based on J.D. Power customer surveys, you would also get above average service by going with State Farm. The company received above average marks for its customer service satisfaction from J.D. Power. To buy a State Farm policy, you can start a quote on State Farm's website, and then buy it from an agent afterward.

USAA

If you qualify for USAA, we would recommend you make them your renters insurance company. Not everyone qualifies--you need to either be a military member or have a relative who was/is. USAA is one of the cheaper options, and the coverage you get at USAA is incomparable to other companies as well. With a USAA renters policy, you also get flood and earthquake coverage, which are not a part of anyone else's standard coverage. If you live in a area prone to flooding, USAA's flood coverage can end up saving you several hundred dollars per year due to not having to take a policy out with the NFIP.

Do you need renters insurance in Houston?

In Houston, only 43% of renters have renters insurance--nearly 600,000 people. No renter is immune from calamity however. Just how likely are you to experience a costly incident in the Magnolia City?

Fire

In Houston, there are between 40,000 and 46,000 fire related incidents every year which is around two fires for every 100 Houstonians. If you are unfortunate enough to be one of those renters affected by fire, you can end up losing thousands of dollars worth of your stuff.

Theft

In the month of April alone, there were 7,864 cases of theft, burglary and robbery in Houston--about four for every thousand Houstonians. Depending on what is stolen, you could easily be faced with the prospect of replacing several thousand dollars worth of your items. A renters policy will ensure you never have to worry about not being able to replace your stolen things.

Water Damage

Another common calamity is an internal flood caused by a burst pipe, leaky AC, overflowing tub, etc. According to Allstate, these claims can average around $5,000 per claim. Beyond just the damage the water itself does, it can lead to a mold infestation which is even more expensive to remedy. Renters policies technically do not cover mold, but they do cover prevention so if your home is flooded, you can call in a mold remediation team to prevent infestation in the first place.

How will coronavirus affect renters in Houston?

Read our full breakdown here

Texas has suspended court proceedings for many types of cases, including for evictions as a result of nonpayment. This means that as long as this moratorium lasts, you won't be evicted for missing your rent as a result of COVID-19. We recommend paying what rent you can during this time, as your landlord can still technically file for your eviction even though no legal action can be taken yet.

Coronavirus is unlikely to affect your renters insurance coverage. Providers have eased their policyholders' financial burdens by doing away with late fees for missing payments. Additionally, you won't lose coverage for failing to pay your monthly premium.

If you have to make a claim, you will have to work with your renters insurance provider to file the claim electronically. Providers have halted in-person visits by adjusters, meaning you'll likely have to document any property damage or thefts using photographic or video-recording equipment.

Sources

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

Chris Moon

Chris is a Product Manager for ValuePenguin with years of experience in addressing critical questions about mortgages and homeowners insurance. He spends his time evaluating insurance providers and policy features to understand where consumers might find the most cost-effective coverage. Chris has contributed insights to the New York Times and many other publications.

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.