Arizona Renters Insurance

Renters insurance provides protection for your personal property stored in a rented home, such as an apartment or townhouse. It can reimburse you for damage, theft, or destruction of your personal property due to a covered loss like fires or vandalism. The average cost of renters insurance in Arizona this year is $147 annually or about $12 monthly, which is considerably cheaper than most other states. So, not only is having renters insurance valuable, it's also highly affordable.

An independent insurance agent in Arizona can help you get set up with all the renters insurance you need. They'll get you matched to the best Arizona renters insurance. First, though, here's a breakdown of renters insurance requirements in Arizona and more.

Best Renters Insurance Companies in Arizona

Renters insurance in Arizona is sold by many different insurance companies. However, some carriers have cheaper rates and better-quality coverage than others. 

To help you save time on your coverage journey, we've put together a list of only a few top-rated renters insurance companies for you. Start by checking into only the best renters insurance companies in Arizona when you're ready to get coverage.

• USAA: The cheapest renters insurance company in Arizona is USAA, which offers coverage for an average of just $90 per year or $7.50 per month. Though USAA's coverage is only available to active and retired military members and their families, those who fit in these categories can greatly benefit from its coverage. USAA offers renters insurance with flooding and earthquake protection automatically built in, which is a huge perk over most carriers. Customers can also get add-ons like electronics coverage, valuables coverage, and collectible items coverage. USAA also offers a handful of discounts for renters insurance.
• Allstate: Renters insurance from Allstate is slightly more expensive than from USAA, at an average of $108 per year or $9 per month. Still, it's highly affordable for many customers. Allstate offers quality coverage with a handful of additional protection options. The carrier also offers a handful of discounts, including autopay discounts. Customers can also enjoy online payments and other easily accessible account features through Allstate.
• American Family: A renters insurance policy from American Family costs an average of $116 per year or about $9.70 per month in Arizona. American Family offers more discounts on renters insurance than many other carriers. Customers of American Family can also easily access their accounts and submit claims online. The carrier also offers a couple of additional coverage options for renters insurance.

An Arizona independent insurance agent can help you find the right renters insurance policy from one of these top-rated, affordable carriers.

What Does Arizona Renters Insurance Cover?

Renters insurance in Arizona is designed to cover your personal property and your finances in a few different ways. You can expect your Arizona renters insurance policy to provide you with the following protections:

• Personal property coverage: Sometimes called "contents coverage," this is designed to cover repair or replacement costs if your personal belongings are lost or damaged due to covered hazards like:
  • Property crimes: Including burglary and vandalism
  • Fires: Including accidental fires, wildfires, and fires started in neighboring units
  • Severe weather: Including thunderstorms, windstorms, and tornadoes (but flooding and natural water damage associated with these storms is not covered)
• Personal liability coverage: This can cover expenses like court costs, legal fees, mediation costs, settlements, and judgments if you're unintentionally responsible for someone else experiencing injuries, property damage, or financial harm. Covered events include:
  • Dog bites
  • Injuries to guests in your home attributed to your negligence
  • Accidental injuries to others while you are away from home
  • Accusations of libel or slander
• Loss of use coverage: This can cover your temporary living expenses if a covered event like a wildfire leaves your rental home uninhabitable and you must seek alternate living arrangements while repairs are made. It can cover the following:
  • Hotel or temporary rental home costs
  • Takeout meals 
  • Moving expenses
  • Added gas mileage 
  • Storage fees
  • Pet boarding

Additional Renters Insurance Coverage in Arizona

You may choose to add more coverage options to your renters insurance policy for a fuller picture of protection. For example, you can choose to add more coverage to valuable personal property like jewelry or electronics. This extra coverage can help you recoup more of your potential financial losses in case of a major disaster like a fire, in a situation in which your policy's typical limits would've been exhausted. You can often add these coverages to Arizona renters insurance:

• Additional valuables rider: To extend the coverage limits of certain personal property like jewelry, collectibles, electronics, or art, you may want to get an additional valuables rider or endorsement.
• Personal injury: This can cover your legal fees and other costs if you get sued for claims of defamation or slander. Though its name is similar, it is not the same as personal injury protection under auto insurance.
• Water backup: This can add coverage for your rental unit against water damage caused by the backup of sewers or drains or sump pump failure, which can lead to catastrophes like a flooded basement that would otherwise be excluded by renters insurance.

An Arizona independent insurance agent can help you get set up with all the additional types of renters insurance you need. 

What Is Not Covered by Renters Insurance in Arizona?

As with any insurance policy, renters insurance has some limitations. Specifically, renters insurance will not cover damage from specific natural disasters like floods or earthquakes. Depending on where you live in Arizona, you may want to consider the following types of additional coverage:

• Flood insurance: If you have a ground-floor apartment or rent a house in a flood-prone area, you may want to consider buying a flood policy through the National Flood Insurance Program. You can typically purchase a contents-only policy at a reasonable price.
• Earthquake insurance: Some parts of Arizona have a fair-to-moderate risk of sustaining earthquake damage. If you have expensive property that's susceptible to damage in a seismic event, you may want to consider supplementing your renters insurance with an earthquake insurance policy.

Whichever types of coverage you add, you'll want to be sure your coverage limits are high enough to fully cover all your personal property. An independent insurance agent in Arizona can help you obtain adequate coverage limits under renters insurance for your personal property.

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How Much Does Renters Insurance Cost in Arizona?

The average cost of renters insurance in Arizona is about $12 monthly or $147 annually. The current national average cost of renters insurance is $159 annually. So, renters in Arizona can save a considerable amount on their coverage compared to most areas of the nation.

However, keep in mind that the cost of your renters insurance policy varies based on a few different factors. The amount of personal property you have to cover and its total value will impact the cost of your premiums. Also, the exact city you live in and your claims history can influence your policy's rates. An Arizona independent insurance agent can help you save the most money possible on renters insurance in your area.

What Factors Impact Renters Insurance Costs in Arizona?

There are numerous factors that go into determining your renters insurance rates. For one, if you've been with a certain carrier for a specified number of years, you can start to earn a loyalty discount, which can reduce your rates. 

You could also qualify for bundling discounts if you have more than one type of coverage through the same insurer. There are still plenty of other factors that can influence the premiums on your renters insurance policy. Just a few of these include:

• Location: The exact location you live in influences your renters insurance rates due to things like local crime rates and the area's risk of weather damage. Rates for renters insurance vary by city, not just state.
• Coverage amount: The amount of coverage you need also obviously impacts your premium rates. If you have more property or property that's more valuable, you'll need to pay more for your coverage.
• Deductible: Choosing a smaller deductible can help you save money when you have to file a claim, but you'll likely have higher premium costs as a result. If you select a higher deductible amount, you can typically lower your premium costs, but you'll have to pay more out-of-pocket if you file a claim.
• Actual cash value vs. replacement cost coverage: An item's actual cash value factors in depreciation, while replacement cost coverage would pay to replace an item given its original value. You'll pay more for a policy that includes replacement cost coverage.
• Credit score: Your credit score influences the cost of many different policies, including renters insurance and car insurance. A better credit score can help you lower your rates on renters insurance.

An Arizona independent insurance agent can help further explain all the factors that go into calculating your renters insurance premiums. 

Arizona Renters Insurance Costs by City

The cost of your renters insurance in Arizona varies down to each specific city. Different rates and trends in each city, such as crime and traffic, impact the cost of that area's insurance. Property values also play a role in this. Here are a few of Arizona's major cities and the average cost of renters insurance in each.

Arizona Renters Insurance FAQs