Who Has the Cheapest Renters Insurance Quotes in Texas?

Article Approved By Banking Expert

This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Article Approved By Banking Expert

This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Both the center of the South in the United States and the center of quite a few natural disasters and significant events in the state, Texas has strong and independent people and problems unique to the state. As such, many residents simply don’t have the time for some of the more “normal” problems such as fires, storms, and break-ins, though threats they still are. Yet people can effectively shield themselves from the full effects of these issues with the help of a solid renters’ insurance policy, which we recommend to every apartment-dweller in the state.

Here are the five cheapest renters’ insurance providers operating in Texas:

The Five Cheapest Quotes:

Texas is, of course, a big state with different regions and types of environments within it. People living on the coast have very different threats facing them than those living in the north. As such, rates and experiences will vary from the below averages because of location and circumstance.

The number listed next to each provider is the average annual rate for a standard policy.

1) Liberty Mutual: $265

Liberty Mutual is the cheapest option on average for renters’ insurance in the state of Texas, and also is a great general option for most people. With few gaps or weaknesses in their coverage, you will probably be able to sleep soundly without too much further thought during the sign-up process.

Unfortunately, the main problem people may find with Liberty Mutual is the fact that while their renters’ insurance is fantastic, that same level of greatness doesn’t extend to their other offerings. You may wish to be careful about bundling, and also be wary of rate spikes in certain areas.

You can expect the following working with Liberty Mutual:

  • Partnerships with many different organizations that can lead you to get an even lower rate.
  • Optional coverage offerings such as identity theft, electronics, high-value items, jewelry, and water damage.
  • A large catalog of different insurance products.

2) Nationwide: $316 

The second cheapest option in the state is the well-known Nationwide, provider of quality coverage, excellent customer service, and more customization options than you might know what to do with. With them you will be able to choose your level of coverage for certain groups or types of items, meaning if your apartment is comprised mostly of certain types of valuables, Nationwide should be the first company you look at.

But if you are interested, you will want to take a look at those options, as some of their default coverages (particularly the coverage for expensive items) will not be enough for everyone to feel comfortable. And like Liberty Mutual, you will want to keep an eye on your quote to make sure you aren’t in an expensive area.

You can expect the following working with Nationwide:

  • The ability to customize your deductible, giving you more control over your total cost.
  • A free (and optional) assessment each year to help you determine the right policy for you in the future.
  • Coverage that will follow your possessions even if they aren’t inside of your apartment.

3) State Farm: $349

State Farm is usually one of the cheapest choices in any given state, and while it’s not that in Texas, it still is notable for its ability to provide customers with a basic plan that will cover you for common problems and disasters. Discounts and bundles are available, and their better coverages might just align with your interests.

State Farm has two main issues to be aware of. The first is that their customer service leaves a lot to be desired, which is not a good look for the average annual rate they ask for. Furthermore, water damage and flooding coverage are hard to come by.

You can expect the following working with State Farm:

  • Great electronics, business property, and expensive items coverages.
  • One of the best loss-of-use plans in the industry.
  • The ability to customize your coverage, but to a rather limited degree.

4) Allstate: $460

After a bit of a price jump comes Allstate, a company that is in some ways comparable to Liberty Mutual or State Farm but has a few extra things such as the flooding coverage you may need. Allstate is additionally one of the best options if you’re looking to bundle, especially if auto insurance is a priority.

Much like State Farm, though, their customer service is often poor when compared to other companies, which is unacceptable given the price. You also won’t have as many customization options as other policy providers offer.

You can expect the following working with Allstate:

  • Fantastic water damage and flooding coverages, making them a top-tier choice for Texas renters who live in flood zones or on the coast.
  • A series of excellent online tools, resources, and services, all able to save you time and mental energy.
  • The benefits of working with an institutionally and financially stable company.

5) Farmers: $764

We’re not going to lie to you and say that at this average price Farmers is an acceptable or even responsible price for most people. It simply isn’t. Yet it is still on average the fifth cheapest, and they do have a few benefits worth noting. With them, you’ll get excellent customer service and many customization options on top of that, including a few to hopefully lower your rate.

Outside of the extremely high price, Farmers does have a few other problems. You may not like the default coverages for some options like jewelry, and other people have reported a bureaucracy-induced wait at times, which for many people is unacceptable.

You can expect the following working with Farmers:

  • The ability to customize your coverages based on your perceived level of risk regarding different threats and types of possessions.
  • The ability to modify your deductible, affecting your annual rate and out-of-pocket price in the event of a claim.
  • Optional policy add-ons including identity theft protection, pet damage protection, improved liability coverage, and personal article floaters.

Conclusion

Big problems can hit Texas renters, but with a good insurance policy, those won’t be able to keep you down. While the decision might seem to be a hard one at first, by reviewing the above information a bit and listing out your main priorities, you will be able to narrow your search, get some quotes, and get a policy that’s perfect for you in a matter of days. Millions have done it before, and we hope that you will be able to soon and get some additional peace of mind.

 

Ryan Friend

Ryan Friend

Ryan Friend

Latest posts by Ryan Friend (see all)