In most cities, a majority of renters do not carry a renters insurance policy--even though they should. Renters face the costly dangers of fires, water leaks, and even their own dog biting someone else. A renters policy can take care of all of those things. In this piece we discuss who has the best and cheapest renters insurance in San Antonio.
Cheapest Renters Insurance Companies in San Antonio
In San Antonio, the best renters insurance quotes for our sample renters came from The Hartford and American Mercury Insurance. Both were quoted for $125--about $25 less than the cheapest in Houston. The next most affordable company was Travelers at $145 per year. You can see how every insurer stacks up below.
The quotes above are based on a profiled San Antonian 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. Here is how much renters insurance cost at 20+ companies for our renter living in San Antonio:
|Company Yearly||Renters Insurance Rate|
|Twin City Insurance||$195|
|Texas Farm Bureau||$231|
|American Strategic Insurance||$246|
How Does Pricing Compare Among San Antonio Neighborhoods?
As is the case in most cities, renters insurance premiums do not vary much for the same amount of coverage throughout the city. In San Antonio we found certain neighborhoods like Mahncke Park were $5 more expensive than Downtown San Antonio.
|Neighborhood||Renters Insurance Rate|
|Downtown San Antonio||$277|
Best Renters Insurance in San Antonio
The best renters insurance company is the one that gets you the most value and the best service. Here are our recommendations based on our review of customer satisfaction surveys and quote comparisons.
The Hartford is both affordable and provides great service. According to the 2016 J.D. Power survey of renters insurance companies, The Hartford is second to none. Customers praise the company's billing practices, customer interaction and policy offerings in particular. The only negative marks The Hartford received was on its pricing. In San Antonio at least, that does not seem to be an issue as we found it to be the lowest costing renters insurance company.
USAA is also another great renters insurance company if you qualify. To qualify you need to be in the military or have a relative who is or was. USAA was not the most affordable option in San Antonio, but it did still have below-average pricing, and the coverage you get with USAA is very comprehensive. USAA is also very convenient to bundle with your auto policy, with rates from USAA auto insurance also usually being cheap.
Why San Antonians Need Renters Insurance
There are many reasons for needing renters insurance. We discuss three vital--and costly--ones that San Antonians can face.
In cities as large as San Antonio, there are thousands upon thousands of internal fires every year. It just takes one fire to destroy all of your belongings leaving you needing to replace thousands of dollars worth of stuff like your appliances, electronics, bed and wardrobe. According to Allstate, the average fire claim in Downtown San Antonio is $38,000. Unless you have that hanging around, a renters policy would definitely be advisable.
In downtown San Antonio, theft/burglary is the third most common claim. Every time someone is robbed, they are reimbursed on average $2,800. While that is way less than a fire claim, theft happens more often and it would still be inconvenient to be out nearly $3,000 because someone robbed you.
Another costly claim in San Antonio is dog bites. The average dog bite liability claim costs about $35,000 per claim. With a renters insurance policy you get at least $100,000 in liability coverage which would be more than enough to cover the average dog bite. If your dog were to bite someone though and you were sued without having renters insurance, you could be faced with a costly legal battle.