Reddit’s 7 Best Renters Insurance Companies Are Awesome

renters insurance rental paperwork document

Reddit’s 7 Best Renters Insurance Companies Are Awesome

Key Points

  • Renters insurance provides coverage for you and your living space, including personal property, liability, and additional expenses coverage.
  • Consider the price, coverage, deductible, and customer service when choosing a renters insurance company.
  • Lemonade, USAA, Liberty Mutual, AAA, Erie, Toggle, and Geico are highly recommended renters insurance companies according to Reddit users.
  • Lemonade offers fast quotes, easy claims process, and affordable coverage starting at $5 per month.
  • USAA provides great coverage for military members and veterans, with options to bundle with car insurance for additional savings.

For many renters across the United States, renters insurance is often required before moving into a new apartment is even possible. And while renters insurance can be helpful for some, no one wants to spend a fortune on a service that may not be worth it.

Luckily, different Reddit threads have shared the best renters insurance companies that are affordable and worth checking out. Here’s what you need to know!

What is Renters Insurance?

First, what exactly is renters insurance, and why do you need it? Simply put, renters insurance provides coverage for you and your apartment, townhome, or house. If something were to happen to you, what you own, or your living space, renters insurance will help pay for the loss.

There are many types of renters insurance too, just like car insurance. You could cover your personal property (a computer), liability coverage (if your dog bites someone), and/or additional expenses coverage, like if you have to get a hotel because your power went out. You can also get a combination of all of these coverages or pick and choose what you need most.

What Should You Look for When Choosing Renters Insurance?

When it comes to rental insurance, there are a few considerations to keep in mind before choosing a specific company. Here’s what you should look out for.


Insurance can be expensive, but that doesn’t mean you should be forced to pay thousands to protect yourself and your things. There are many rental insurance companies out there that charge affordable rates. You can usually find simple coverage for as little as $10 a month.

Of course, what you pay will also depend on what type of coverage you have and what you own. For example, if you have coverage for lots of technology in the home and pay for earthquake insurance, you’ll spend significantly more than someone who only owns $3,000 worth of items and who doesn’t need earthquake coverage.

Overall, the price you pay should make sense. You can always shop around to see the different price points before making your final decision.


The coverage you pay for is one of the most important parts of paying for renters insurance. It wouldn’t make sense to pay hundreds each year and not be able to actually use your insurance when you need it.

When you look into what your potential policy will cover, make sure it works for you. Will the policy pay for your items if they’re stolen? How much will it cover? What about replacement during times like tornados or hurricanes? How would you submit a claim and when would you get payment? These are all questions to think about when choosing a company to work with.


Just like with other insurance policies, renters insurance typically carries a deductible. This is the amount you’ll have to pay before insurance kicks in and covers the rest. In other words, if you have a $250 deductible and $10,000 coverage, you’ll have to pay the $250 before insurance pays out the $10k.

These deductibles are usually $250, $500, or $1,000, depending on the coverage you get. But some companies offer deductibles as low as $100. Remember that the lower your deductible, the higher your monthly premium will most likely be. Whatever you choose, try to keep this amount in savings as a “just in case.”

Customer Service

Most people know someone who has had a bad insurance coverage story, or maybe you’ve experienced it yourself. Let’s be honest, insurance companies aren’t always great to work with. So, before choosing a company, be sure to look into their reviews.

Does the company actually pay out when needed? Do they cover claims quickly and efficiently? Do they hike rates up exorbitantly if you need to make a claim? Be sure to listen to the negatives people talk about, especially when it comes to an insurance company’s customer service. If they have too many negative reviews, they may not be the best company to work with.

Reddit’s 7 Best Renters Insurance Companies

Now that you know what to look for before choosing a renters insurance company, let’s talk about Reddit’s most talked about and highly rated options.


No matter which Reddit thread we looked at, Lemonade came as one of the most highly recommended insurance options. The company claims that you can have a quote in less than 90 seconds, which is incredibly fast. You can also bundle insurance coverage and have multiple policies with them, including pet, car, and renters insurance.

Lemonade is transparent about what they do and don’t cover when it comes to your insurance policy. While they cover personal property through acts of God and theft, they don’t cover any damage caused by floods. They also offer liability coverage, but not against dog bites. They charge as little as $5 per month for coverage, and it seems like many users were able to get coverage for around $10.

One of the biggest perks of working with Lemonade is that they make the claims process super easy. If you need to make a claim for any reason, all you have to do is file it online or via the app and record a quick video of the damage. You won’t have to fill out any additional paperwork and claims are usually processed in less than 10 business days. Overall, Lemonade seems like an easy company to work with, and they make it simple to get started.

lemonade renters insurance
Redditors are very quick to recommend Lemonade’s renters insurance plans.

©Piotr Swat/Shutterstock.com


Before we dive into USAA, it’s important to note that you can only use this company if you are a member of the military, a veteran, or a family member of a veteran. However, if you qualify, they offer great coverage for an affordable price.

Some Reddit commenters say they were able to get USAA renters insurance for less when they bundled it with their car insurance. But even if you choose not to bundle, you can get renters insurance for as little as $10 a month.

USAA’s insurance covers property and liability. This means your things will be covered against theft and damage. You’ll also be covered if someone else has an injury in your home or if you damage the property. USAA covers apartments, houses, townhomes, dorms, and even military base rooms and homes.

The only items they don’t cover are some types of water damage, roof work, vehicle damage, and damage caused by animals and insects.

USAA mobile app
USAA has some great coverage and reliable service.


Liberty Mutual

If you’re looking for cheap renters insurance that covers your basic needs, Liberty Mutual is a popular option. They offer coverage for as low as $5 per month. You can also get cheaper coverage if you bundle the renters insurance with your car, life, or pet insurance.

Getting a quote with Liberty Mutual is easy, and starts with your zip code. You can have a quote in as little as 10 minutes and can opt to pay monthly, every six months, or every 12 months. Liberty Mutual also offers discounts if you pay in full or set up auto-pay.

Unlike some other renters insurance companies, Liberty Mutual offers personal and liability coverage in addition to earthquake coverage. This is helpful if you live in an area that is prone to earthquakes, and the price for coverage is reasonable. If you have pets, they don’t cover bites or damage caused by them, so keep that in mind.

liberty mutual insurance
Liberty Mutual offers plans as low as $5 per month!



Did you know that AAA isn’t just for car troubles? The company also offers renters insurance. They even offer coverage if you’re renting a room in a home or space.

If you get a policy via AAA, you can bundle it with car insurance and save up to 10%. But even if you just pay for the renters insurance, you can pay as little as $8 per month. The company offers four coverage types, and you can pick and choose what you need coverage for.

The first is personal property coverage, which would replace your personal belongings that are lost due to theft or damage. There’s also liability coverage, which covers your legal liability if you damage something or are sued. While those are the two main options, you can also get guest medical coverage, which will cover necessary medical expenses if a guest on your property gets hurt. Last but not least, you can sign up for additional living expenses coverage in case you have hotel bills from your space being damaged. You can get a quote from AAA online or you can call their customer service helpline to sign up.

AAA insurance building HQ
AAA is great for its affordable plans and bundles.

©Tada Images/Shutterstock.com


Many renters in the north of the U.S. discussed Erie in the Reddit threads and for good reason. The company offers decent rates and you may qualify for one of their many discounts — including multi-policy discounts, safety discounts, and age discounts, to name just a few.

Another perk to having Erie insurance is that they cover damage and medical injuries caused by animals. While this may mean a slightly more expensive policy, this is a great option for pet owners who want to keep their homes and loved ones covered.

Many people noted that Erie also has an easy claims process. You can text, call, or email a representative with your claim and what’s damaged, and they’ll process your claim in (usually) less than two weeks. They even have an emergency response team if your area is damaged by a tornado, earthquake, flood, or hurricane.

erie insurance website
Erie Insurance is known for its easy and fast claims process.

©Casimiro PT/Shutterstock.com


Toggle is a unique renters insurance company, offering subscription tiers based on what your needs may be. They also offer many different coverage options.

Their main tiers are Basic, Standard, and Premium. These tiers offer coverage based on your stuff. If you don’t have a lot to cover, you can easily sign up for the basic plan for around $5 a month. If you live in a larger home or have more expensive items, Premium will have you covered for around $30 per month.

From there, you can add on additional coverage options, including theft protection (even if it happens when you’re not at home), pet coverage, technology coverage, and even a “side hustle” coverage option. No matter what you sign up for, each policy includes loyalty coverage. This coverage means that your deductible will decline each year you’re claim free.

If at any point you need to update your coverage, Toggle makes it easy. You can upgrade or downgrade at any time before your next bill is due. This is especially helpful for short-term renters or people who expect life changes within a year.

renters insurance couple on couch with kids at home
Toggle offers subscription tiers based on your specific needs.



While Geico is well-known for their car insurance policies, they also offer renters insurance. And just like with similar companies, they do offer bundle savings if you choose to pay for both your car and renters insurance through them.

One of the best parts of Geico renters insurance is that the company automatically covers much more than some others, including weather, fire, and water damage. Other policies have you add on those coverage options, but Geico covers them under their original renters insurance policy.

Another perk to using Geico is that they offer injury insurance, even for your pets. So, if your pet gets hurt on your property, or hurts someone else, this is covered under Geico. This is rare and a great option for most pet owners. But keep in mind that this is not pet insurance because it only handles injuries caused in the home.

Geico promises that you can get a quote in 30 minutes or less, which is on par with many other large companies. The application process is fairly simple and is even quicker if you already have car insurance through them.

geico insurance
Geico offers quotes in 30 minutes or less.


Wrapping Up

Reddit usually has great resources and recommendations, especially when it comes to working with companies. If you’re looking for the best renters insurance companies, the users of Reddit really offer some great options!

Frequently Asked Questions

What information do I need to get a renters insurance quote?

You’ll need a few things, including your name, date of birth, and the number of people in your household (including yourself). You’ll also need to include details like if you have pets, how much stuff you have, and if you have certain safety features. Even though this seems like quite a bit of information, you can usually get a renters insurance quote in 20 minutes or less. 

Does renters insurance vary by state?

Yes, it does. Renters insurance varies from city to city too and will depend on a few other factors, like your home size.

What is typically covered by renters insurance?

The main items typically covered under renters insurance are your personal property and your liability, which can be helpful if you cause harm to someone by accident or mess up the property.

Why would someone want to have renters insurance if their building owner has insurance?

While renters insurance isn’t federally mandatory, many landlords require it before you move into the property. This way they don’t have to make a claim on their own insurance, especially if the damage to the property is your fault.

What is a deductible in renters insurance?

The deductible is what you have to pay out of pocket before your policy covers the rest of the costs.

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