It can get hot in Arizona, and fires can occur. Additionally, while the state is great to live in, crime can occur as well, especially if you live in the city. There are plenty of ways your life can turn upside down overnight, but thankfully renters insurance can provide you with a way to turn things right around. Yet what policy is the most affordable? What provider will serve you best? We asked those questions as well and performed the research for your benefit.
Here are the five cheapest renters insurance providers operating in Arizona:
The Five Cheapest Quotes:
We would like to note that you might experience different results from us due to the wildly varying nature of the industry, and that’s ok. These are meant to be guidelines and we would ask that you investigate each of these options for your individual needs.
The number listed next to each provider is the average annual rate for a standard policy.
1) Allstate: $206
Commonly the cheapest provider of renters insurance, Allstate doesn’t buck the trend for Arizona and will be able to provide you with a basic and helpful plan for an affordable price. It is also one of the most widespread and comprehensives insurers when it comes to renters insurance, and you will be able to take advantage of that no matter where you live. You will be able to feel secure with a stable and easy solution to your renters insurance needs.
Unfortunately, Allstate doesn’t get the best customer service ratings, with plenty of complaints coming in against their team. They also might not provide some of the specialized services or offer features their much more expensive competitors might.
You can expect the following working with Allstate:
- A simple solution that works for those hoping to either just fulfill a requirement or get peace of mind.
- Accessible agents and company structure that makes it easy to work with them.
- Excellent water coverage plans if you are interested.
2) State Farm: $218
Another provider that offers a similar level of solution for a similar price, State Farm may actually be cheaper if you take into account the discounts they often offer should you install safety devices in your apartment. You will also want to look into timed deals and bundles, and customizing your coverage to your own specifications (within certain limits).
People interested should note that their water and sewer damage insurance isn’t up to the same level as what Allstate provides, and you would want to investigate that thread further if it’s a deciding factor for you.
You can expect the following working with State Farm:
- A very generous loss-of-use policy to get you back on your feet.
- Better-than-average expensive items coverage when compared to competitors.
- An average premium well below what you can expect from most other insurers.
3) Farmers: $311
An excellent option for Arizona, Farmers has a better customer service team than most companies, which can go a long way in the insurance industry (known for on-average subpar performance). While perhaps a bit more expensive than our first two options, you can also expect plenty of customization options from them, making them a great choice if you want a more customized policy.
That all being said, you may want to be cautious about their jewelry coverage on the poor online and paperwork-heavy experience some users have reported. Bureaucracy is something to be expected in this field, but companies should do their best to minimize this pain.
You can expect the following working with Farmers:
- Customization options that include identity theft protection, pet damage protection, better liability coverage, and personal article floaters.
- The ability to modify your deductible to change your monthly rate.
- A customer service team that is in most circumstances great to talk to and work with.
4) Liberty Mutual: $316
Effective just as cheap as Farmers in Liberty Mutual, a provider that offers the standard array or services and customization options for their customers and does an adequate job at all of them. A firm with few weaknesses when it comes to renters insurance, they notably offer optional coverages for identify theft, electronics, jewelry, high-value items, and water damage.
In the course of our research, we found several complaints regarding their car insurance services, which might give pause to those looking to bundle, but they do offer a wide range of insurance products and services which you may wish to peruse. Additionally, Liberty mutual on average will be a cheaper company to work with in Arizona, but in some regions, the cost might become prohibitive. Caution will be your best companion.
You can expect the following working with Liberty Mutual:
- An excellent online quoting system that won’t waste your time.
- Discounts provided via partnerships with many organizations, one of which you likely belong to.
- Strong online services and claims support.
5) Nationwide: $490
Rounding out our list is Nationwide, which is the most expensive on average by a longshot but makes up for this with extensive customization options (you can set limits on specific types of items). They also have optional coverages such as additional valuables coverage, water and sewage backup coverage, earthquake protection, and theft extension (should you have valuables stored elsewhere).
That all being said, it might not make up for the high premiums for you, and Nationwide has been known to have very high premiums in some areas. Additionally, you will want to look into their relatively low normal limit on the coverage for expensive items.
You can expect the following working with Nationwide:
- Knowledgeable agents who will take the time to work with you.
- Plenty of discounts to keep your rate low.
- Coverage that goes beyond your immediate apartment.
While it’s a great place to live, unfortunately, bad events can still occur in Arizona. You need renters insurance in order to protect yourself from the elements and the unknown, and the sooner you can sign up, the better. Yet it’s also a tricky choice. Just consider the options listed above and consider exactly what you’re looking for from a policy, and you’ll do just fine. We wish you nothing but the best for you and your apartment.