Renters insurance in Arizona can provide peace of mind and help you afford replacement costs when your personal property is damaged.
To help you determine the best renters insurance company for your Arizona rental, the This Old House Reviews Team examined the top providers in the state and included tips on how to choose the right policy for your home.
4 Best Renters Insurance Companies in Arizona
Here are the best renters insurance providers for Arizona residents based on coverage options, pricing, endorsements, and unique benefits:
- Lemonade: Easiest Sign-Up
- Farmers: Most Customizable Coverage
- Liberty Mutual: Best Discounts
- Nationwide: Best Endorsements
Lemonade: Easiest Sign-Up
- J.D. Power Rating: 870/1000
- A.M. Best Rating: N/A
Lemonade renters insurance offers affordable coverage to Arizona residents with plans starting as low as $5 per month. If you want to save time, utilize the Lemonade mobile app, and sign-up for a renters insurance policy in two minutes. Lemonade offers standard renters insurance coverage similar to most insurance providers. The company covers events including fires, lightning, windstorms, hail, smoke, vandalism, theft, freezing, damage from aircrafts or vehicles, and riots.
Benefits of Lemonade Renters Insurance
✔ Coverage starting as low as $5 per month
✔ Great mobile app experience
✔ Giveback program donating unused policy money to charities
Learn More: Lemonade Renters Insurance Review
Farmers: Most Customizable Coverage
- J.D. Power Rating: 831/1000
- A.M. Best Rating: A
One of the benefits of a Farmers renters insurance policy is the deductible options. Farmers has more deductible options than Liberty Mutual and Nationwide, and you can choose a much lower deductible of $100, while the lowest options for the other two are $250 and $500.
Farmers renters insurance provides standard liability, personal property, loss of use, and medical payments to others coverage with one endorsement option to protect your identity from being stolen.
Benefits of Farmers Renters Insurance
✔ Unique discount for not smoking in your home
✔ No limit on personal property coverage
✔ Claims center open 24/7
Learn More: Farmers Renters Insurance Review
Liberty Mutual: Best Discounts
- J.D. Power Rating: 823/1000
- A.M. Best Rating: A
Liberty Mutual has the best liability coverage out of the providers in this review. You can go up to $1 million worth of liability coverage, while the other two companies have a cap of $500,000. This ensures that you won’t have to pay for any liability claims out of pocket.
In addition to the liability, medical payments to others, loss of use, and personal property coverage, you can add endorsements for earthquakes, jewelry, and identity theft.
Benefits of Liberty Mutual Renters Insurance
✔ Over 100 years in the business
✔ Choice of $5,000 deductible, while the other two providers cap it at $2,500
✔ Starting premium price of $5 per month
Learn More: Liberty Mutual Renters Insurance Review
Nationwide: Best Endorsements
- J.D. Power Rating: 834/1000
- A.M. Best Rating: A+
Nationwide renters insurance offers more than just personal property, liability, medical payments to others, and loss of use coverage. With every policy, you get credit card protection to detect unauthorized charges, ordinance or law protection to help bring your unit back up to code after repairs, and building additions and alterations protection to cover the cost of damage to minor changes you made to your rental.
If that coverage still isn’t enough, you can add one of Nationwide’s nine endorsements to your policy:
- Personal injury
- Limited water backup
- Increased building additions and alterations
- Refrigerated property
- Scheduled personal property
- Flood insurance
- Personal liability umbrella coverage
- Additional insureds
Benefits of Nationwide Renters Insurance
✔ Choice between an actual cash value (ACV) or replacement cash value (RCV) policy
✔ Nearly 100 years of industry experience
✔ Customer portal, mobile app, and customer service lines to manage your policy and claims
Learn More: Nationwide Renters Insurance Review
Arizona Renters Insurance Coverage
Here’s a breakdown of what an Arizona renters insurance policy covers:
- Personal property coverage: This part of your policy protects the cost of replacing your personal belongings when a covered event, like fire or vandalism, damages your items.
- Loss of use coverage: If you get kicked out of your home for major repairs, your policy will cover additional living expenses during that time, including the cost of staying in a hotel or temporary rental.
- Liability coverage: This coverage protects you from liability claims when you’re responsible for causing bodily injury to someone or damage to their personal property.
- Medical payments to others coverage: If a guest is injured in your home, this part of your policy will cover their medical bills.
- Endorsements: Each insurance provider will offer different endorsements, or additional coverage, with common options including identity theft, jewelry, and earthquakes.
How Much Does a Renters Insurance Policy Cost in Arizona?
According to the Insurance Information Institute (III), a resource that helps customers make educated decisions, manage risk, and appreciate the essential value of insurance, the cost of renters insurance in Arizona is about $164 per year, or a little under $14 per month. This is just under the national average of $174 a year.
Factors to Consider Before Purchasing Renters Insurance
As you begin searching for a renters insurance policy, keep these factors in mind:
- Safety features: Note any safety features, like smoke detectors, fire extinguishers, and security systems, you have in your home. Some renters insurance providers will lower your premium if you have a variety of safety features in your home.
- Natural disasters: Arizona is prone to flash floods and thunderstorms, so you’ll want to see if your policy covers those events. Most basic insurance policies cover thunderstorms, but you may have to purchase an add-on or separate policy for flooding. Look into a USAA policy if you’re eligible, as the company offers flood and earthquake coverage to all policyholders.
- Proximity to fire station and fire hydrant: How far your apartment is from a fire station or fire hydrant will determine how quickly you can get help if your apartment catches fire. If you live more than five miles from a station or 1,000 feet from a fire hydrant, your renters insurance rate will be higher.
- Deductible: If you’re looking for a more affordable renters insurance policy, choose a higher deductible to decrease the amount you pay each month for your policy.
Lemonade, Farmers, Liberty Mutual, and Nationwide are the best renters insurance options for Arizona residents because of their high coverage limits and ability to cover your belongings if they’re damaged from Arizona’s extreme weather conditions. We recommend getting renters insurance quotes from all three providers so that you can compare coverage and pricing.
FAQs About Renters Insurance in Arizona
Our Rating Methodology
The This Old House Reviews Team is committed to providing comprehensive and unbiased reviews to our readers. This means earning your trust through transparency and having the data to back up our ratings and recommendations.
With that in mind, we created an objective rating system to score each home insurance company. Here’s what that review process looked like:
- We analyze the information on each company’s website. This allows us to determine what products and services are offered by each home insurance provider.
- We get a sample quote from the companies by either talking to a sales representative or by using the online quote tool. This tells us what a policy looks like and costs.
- We test customer service by talking to a company representative, finding out their hours of operation, and determining what technological features are available for customers.
- We update all of this information on a continuous basis, storing it in a proprietary database that allows us to compare dozens of home insurance companies against each other.
With this data, we created a rating methodology to score each home insurance company. Our rating system is a weighted, 100-point scale based on the following factors:
- Coverage (30): We rated home insurance companies higher if they offered the six main types of homeowner protection—dwelling, other structures, personal property, loss of use, liability, and medical payments to others coverage.
- State availability (7.5): Companies scored higher if they covered more states than their competitors.
- Customer service (15): This factor is based on our communications with the company representatives, as well as the companies’ claims and quotes processes, availability throughout the week, and customer service information found on their websites.
- Technology (12.5): Technology can increase the efficiency of filing and tracking home insurance claims. Companies scored higher if they had technology options like mobile apps and online chat functions.
- Reputation (20): We gauged trustworthiness based on years of experience and Better Business Bureau ratings.
- Additional benefits (15): Companies that offered optional features, like discounts and endorsements, scored higher than competitors that didn’t.
The This Old House Reviews Team has a full-time researcher who collects and regularly updates data points from every company to help us compare them on key factors such as coverage, service, and dependability.
To share feedback or ask a question about this article, send a note to our Reviews Team at email@example.com.