Who Has the Cheapest Renters Insurance Quotes in Austin?
Lemonade has the cheapest renters insurance in Austin, at an average of $15 per month.
However, the cheapest option isn't always the best choice for renters insurance.
Austin renters should also consider State Farm. It costs only $2 per month more than Lemonade and offers more reliable customer service.
Compare Cheap Renters Insurance in Austin
Best Cheap Renters Insurance in Austin
To find the best renters insurance in Austin, our editors evaluated each company's rates, coverage options and customer service. To determine company rates, ValuePenguin collected quotes from seven top insurance companies that offer coverage in the city.
Quotes include $30,000 of personal property coverage with a $500 deductible and $100,000 in liability protection.
Cheapest Austin renters insurance
Lemonade is the cheapest renters insurance company in Austin.
An average policy from Lemonade costs $15 per month, which is $7 per month less than the citywide average.
Cheapest insurance companies
The average cost of insurance in Austin is $22 per month. That's $3 per month cheaper than the cost of renters insurance in Texas overall.
Compare Cheap Renters Insurance in Austin
Cheap renters insurance quotes in Austin
Company | Monthly rate | ||
|---|---|---|---|
| Lemonade | 4.0 out of 5 | $15 | |
| State Farm | 4.5 out of 5 | $17 | |
| Amica | 4.0 out of 5 | $18 | |
| Allstate | 2.5 out of 5 | $23 | |
| Progressive | 2.5 out of 5 | $24 | |
Best company for most Austin renters: State Farm
-
Cost$17/moThis analysis used home insurance quotes for seven top companies that offer coverage in Austin, TX. Read our methodology.
Best cheap renters insurance in Austin, TX: Lemonade
-
Cost$15/moThis analysis used home insurance quotes for seven top companies that offer coverage in Austin, TX. Read our methodology.
Best renters insurance discounts in Austin: Amica
-
Cost$18/moThis analysis used home insurance quotes for seven top companies that offer coverage in Austin, TX. Read our methodology.
What renters insurance coverage do I need in Austin?
There are many reasons for needing renters insurance, and Austin renters are especially likely to face a few.
In 2022, homes in Austin experienced over $55 million in fire damage, according to the Texas Department of Insurance. An apartment fire can destroy your furniture, bed, clothes and appliances. That's why fire claims can be very expensive.
Renters insurance almost always covers fire damage. A policy ensures you'll be able to replace your stuff if your apartment catches on fire.
Austin tends to have more property crime than other large cities, according to the Austin Police Department.
Renters insurance policies protect you from both robbery inside your home and theft of your belongings while away from home, like if someone steals your purse. Having a renters insurance policy means you won't have to worry about whether you can afford to replace stolen belongings.
Water damage is a common and very costly claim for Austin renters. Whether you leave your bathtub running or a pipe bursts, water can ruin all of your belongings. Renters insurance covers these types of flood damage.
However, renters insurance doesn't cover weather-related flooding. Renters living near Lake Austin, Ladybird Lake or Travis Lake should consider getting a separate flood insurance policy. Flood insurance is the only way to protect your stuff from rising waters.
Frequently asked questions
How much is renters insurance in Austin, TX?
Austin renters insurance costs an average of $22 per month. That's $3 per month less than the Texas state average.
Is renters insurance required in Austin?
The city of Austin doesn't require renters to have insurance. However, your landlord or property management company can require you to buy a policy as part of your lease agreement.
What is the cheapest renters insurance in Austin, Texas?
Lemonade has the cheapest renters insurance in Austin, at $15 per month. However, renters shouldn't buy a policy based on cost alone.
State Farm only costs a little more, at $17 per month, but it has much better customer service reviews. That makes State Farm a better choice for most people.
Methodology
To find the best renters insurance in Austin, ValuePenguin collected rates from seven of the top insurance companies available in the city. Rates are for a 30-year-old unmarried woman living alone with no prior insurance claims.
Quotes are for the following coverage limits:
- Personal property: $30,000
- Personal liability: $100,000
- Medical payments: $1,000
- Loss of use: $9,000
- Deductible: $500
To evaluate quality, we considered each company's National Association of Insurance Commissioners complaint score, as well as its ratings by J.D. Power and ValuePenguin editor's ratings, if available.
Sources:
- Fire statistics: Texas Department of Insurance
- Property crime rates: Austin Police Department Annual Crime and Traffic Report
About the Author
Senior Writer
Lindsay Bishop is a Senior Writer at ValuePenguin, where she educates readers about home, auto, renters, flood and motorcycle insurance.
Lindsay began her career in the insurance and financial industry in 2010. She was a licensed auto, home, life and health insurance agent and held Series 6 and 63 financial licenses.
After a hiatus from the financial sector, Lindsay returned to the industry as a content writer for ValuePenguin in 2021. She enjoys having the opportunity to help readers make smart decisions about their insurance so they can be prepared for anything life throws their way.
When Lindsay isn't writing about insurance, you can find her spending time with family, enjoying the outdoors on Sunday long runs or riding her Peloton.
How insurance helped Lindsay
As a homeowner for 15 years located in South Carolina, Lindsay has plenty of experience navigating the coastal insurance market and managing the claims process. That includes successfully negotiating a full roof replacement claim.
Expertise
- Home insurance
- Car insurance
- Flood insurance
- Renters insurance
- Motorcycle insurance
Referenced by
- CNBC
- Yahoo Finance
- Miami Herald
Education
- BS/BA Economics, University of Nevada Las Vegas
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.
