The Best Cheap Renters Insurance in Idaho
The Best Cheap Renters Insurance in Idaho
You should select your renters insurance by finding the company that best combines affordable prices, protective coverage and consistent customer service. We gathered quotes from addresses across Idaho to help you choose the best insurer for your needs.
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We found renters insurance in Idaho for a low price of $16 per month — about $194 per year. Below, we call out Idaho's best renters insurance companies, reveal the most affordable provider in the state and break down the average cost of coverage in the Gem State's largest cities.
Best for most renters
Best for complete coverage
Best renters insurance for seniors
Methodology
Best renters insurance for most people: State Farm
The good:
- Cheapest rates in the state
- Highly rated customer service
The bad:
- Few ways to upgrade your coverage
State Farm has the best renters insurance for most people in Idaho. The insurer charges far less for a policy than its competitors. State Farm is the cheapest renters insurance in the state by about $30 per year, offering policies for $12 per month. State Farm renters insurance is 28% cheaper than the typical cost of coverage in Idaho.
The customer service afforded by State Farm is the most well-regarded of any of the companies we surveyed. State Farm receives far fewer complaints for its service relative to its size. Additionally, J.D. Power rated the insurer's service, policy offerings and price the third-best among its national competitors.
The only weakness of State Farm is its limited range of policy features. Renters insurance from this company will fit the needs of most people, as it offers the same protections usually granted throughout the industry. However, you can only upgrade a basic policy by raising your limits and adding special property coverage for high-value items.
Best renters insurance for complete coverage: Travelers
The good:
- Many extra forms of renters protection
- Affordable coverage for many tenants
The bad:
- Does not allow policyholders to pay monthly
Renters looking for more coverage than what's afforded by a typical policy should consider Travelers Insurance, but the insurer also has cheap coverage for standard policies. The average cost of renters insurance from Travelers amounts to about $14 per month, or $170 per year — about 13% cheaper than the state's average cost.
However, Travelers requires policyholders pay a lump sum at the start of a policy. If you prefer the financial freedom that comes with monthly payments, another provider might better match your needs.
Besides offering conventional protections for personal property and liability, Travelers also allows its policyholders to add useful extras, such as:
- Replacement-cost coverage: Replaces the full value of your lost property without consideration to its depreciation over time.
- Water-backup protection: Covers damage that stems from overflowing or malfunctioning drains and sump pumps.
- Machine-breakdown coverage: Expands the coverage that pertains to your electronics and appliances.
- Identity theft protection: Monitors your personal information for security breaches and enrolls you in resolution services if you suffer a loss.
Best renters insurance for seniors: Allstate
The good:
- Discounts available to many people, including seniors
- Cheap renters insurance, on average
The bad:
- May be too expensive without any discounts
Allstate offers the best insurance for senior renters due to the price cuts available to older policyholders. For retired renters who are at least 55, Allstate offers up to 25% off premiums. Additionally, renters could save money by signing up for automatic payments, having more than one policy with Allstate and by remaining claim-free.
The average cost of Allstate renters insurance is $15 per month, or $180 per year. This is about 7% less than the typical cost of renters insurance in Idaho, but State Farm and Travelers are cheaper options for similar levels of coverage. This could make Allstate unaffordable if you don't qualify for any of the insurer's discounts.
Allstate has dependable customer service, according to its complaint data. The insurer receives only 47% of the claims expected for its size. Additionally, Allstate was ranked sixth in J.D. Power's survey of national renters insurance providers for its service, price and policy features.
How we chose the best renters insurance in Idaho
We looked at three main factors to determine which company offers the best renters insurance for most Idahoans:
- Affordability: The price most renters pay for basic insurance protection.
- Coverage options: The quality of a company's standard policy and its extra features.
- Customer service: The speed and dependability of an insurer's claims process.
Affordability: Comparing the average cost of renters insurance from the state's insurers
The average cost of renters insurance in Idaho is about $16 per month, or $194 per year. This is nearly equal to the mean cost of coverage in the entire United States.
The cheapest renters insurance company in Idaho is State Farm, while Liberty Mutual tends to charge the most for coverage.
How much is renters insurance in Idaho?
Insurance provider | Average cost (per month) | Average cost (per year) | % difference from state average |
|---|---|---|---|
| State Farm | $12 | $139 | -28% |
| Travelers | $14 | $170 | -13% |
| Allstate | $15 | $180 | -7% |
| Farmers | $18 | $211 | 9% |
| Liberty Mutual | $23 | $272 | 40% |
The quotes you receive will vary, depending on the insurer, your location and the coverage you choose. We collected rates for the following coverage limits:
- Personal property coverage: $30,000
- Personal liability protection: $100,000
- Medical payments for others: $1,000
- Deductible: $500
In addition to your coverage elections, your personal claims history, age and marital status can influence the price you pay for renters insurance. Our sample profile mimicked the traits of a 30-year-old unmarried renter with no pets or history of property losses.
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Coverage options: Understanding the strength of the protection each insurer offers
When comparing renters insurance, it's important to vet the coverage offered by a company's standard and upgraded policies. Insurers should provide enough coverage with a basic policy to meet your needs without requiring you to purchase any upgrades, also called endorsements.
However, it could be useful to choose an insurer that offers the flexibility to adjust your policy once your needs change. To help you maximize the value of your policy, we tabulated the extra features offered by Idaho's top renters insurance companies.
Insurer | Personal property coverage | Personal liability | Earthquake | Water-backup coverage | Identity theft protection | Replacement-cost coverage | Valuables plus |
|---|---|---|---|---|---|---|---|
| State Farm | $10,000 – more than $100,000 | $100,000 – $1 million | X | - | X | - | X |
| Liberty Mutual | $5,000 – $25,000 | $100,000 – $1 million | X | - | X | X | X |
| Allstate | $15,000 – more than $100,000 | $100,000 – $500,000 | - | - | X | - | - |
| Farmers | $4,000 – $150,000 | $100,000 – $1 million | - | - | X | X | - |
| Travelers | $30,000 – more than $100,000 | $100,000 – $500,000 | X | X | X | X | X |
Customer service: Evaluating the companies with the best and worst reputations for meeting customers' needs
To check the customer service reputations of Idaho's insurance companies, we looked at three measurements. These are the Complaint Index, published by the National Association of Insurance Commissioners (NAIC); J.D. Power's Homeowners Insurance Study - Renters Insurance; and A.M. Best's Financial Strength Rating (FSR).
Insurance company | NAIC Complaint Index | J.D. Power Homeowners study score | A.M. Best Financial Strength Rating |
|---|---|---|---|
| State Farm | 0.35 | 3rd | A++ |
| Liberty Mutual | 0.44 | 11th | A |
| Farmers | 0.34 | 9th | A |
| Farm Bureau of Idaho | 0.64 | Not rated | A- |
| Allstate | 0.47 | 6th | A+ |
| USAA | 0.25 | 2nd | A++ |
| American Family | 0.72 | 1st | A |
| Travelers | 0.46 | 13th | A++ |
| United Heritage Insurance | 0.48 | Not rated | B+ |
| Mutual of Enumclaw | 0.45 | Not rated | A- |
NAIC Complaint Index: The Complaint Index measures the number of complaints an insurer receives relative to its market share, or size. An index over 1.00 signifies that an insurer receives more complaints for its size than expected.
J.D. Power Homeowners Insurance Study - Renters Insurance: J.D. Power ranked national renters insurance companies according to their overall satisfaction. It calculated a composite score based on consumer responses to each insurer's price, policy offerings and customer service interactions.
A.M. Best Financial Strength Rating: A company's financial strength refers to its ability to pay its claims and remain solvent during economic contractions and widespread catastrophes. Most companies score A- or above, meaning riskier companies are easy to spot.
Idaho renters insurance rates: City-by-city breakdown
While calculating the average cost of renters insurance in Idaho, we found the typical price in the state's largest cities. Additionally, we compared each city's price to the statewide average.
The most expensive city for renters insurance in the Gem State is Caldwell, while Kuna's residents are far more likely to find cheap coverage.
City | Average yearly cost | Difference from ID average |
|---|---|---|
| Ammon | $190 | -2% |
| Blackfoot | $193 | 0% |
| Boise | $182 | -6% |
| Burley | $200 | 3% |
| Caldwell | $220 | 13% |
| Chubbuck | $193 | 0% |
| Coeur d'Alene | $195 | 0% |
| Eagle | $180 | -7% |
| Garden City | $178 | -8% |
| Hailey | $194 | 0% |
| Hayden | $194 | 0% |
| Idaho Falls | $193 | 0% |
Methodology
We found the cost of renters insurance in Idaho by gathering 125 quotes from across the state. To access these rates, we used a sample profile that had the traits of a 30-year-old unmarried male renter with no prior renters insurance claims. Our rates reflect $30,000 of property coverage, $100,000 of liability protection and $1,000 of medical payments to others.
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.