Table of Contents
- How much is renters insurance in AZ?
- Average cost of renters insurance in Arizona
- Cheapest renters insurance in Arizona: State Farm
- Best overall renters insurance in Arizona: Nationwide
- Other insurers you should consider in Arizona
- Learn more about renters insurance providers in Arizona
- Other things you should know about renters insurance in Arizona
- How we gathered our data on Arizona renters insurance prices
How much is renters insurance in AZ?
Renters insurance will set you back about $19.27 per month in Arizona on average. That’s pretty much in line with the national monthly average for renters insurance ($20).
If you’re looking for the absolute cheapest renters insurance rates in the state, you’ll find them in Flagstaff or Tucson, AZ which have average monthly premiums of $17.60 and $17.79 respectively.
The highest renters insurance rates we found in our pricing survey were in Glendale at $22.87 per month – just slightly more expensive than in Phoenix ($21.93 per month).
How is the price of renters insurance calculated in Arizona?
Insurance companies calculate your renters insurance premiums by assessing several factors. In addition to looking at your age, claims history, and chosen coverage options, insurers run your credit to try and get an idea of how reliable you are, which affects how much they’ll charge you.
Insurers also take the following into account when determining the price of renters insurance in Arizona:
- Extreme weather: Arizona, like much of the southwestern United States, is prone to extreme heat and wildfires, which can cause havoc on communities. In addition to accidental fires, renters insurance covers fire damage caused by natural disasters like wildfires. The persistent threat of these crises in Arizona accounts for the increased cost of renters insurance in the state.
- Property crime: According to the Arizona Department of Public Safety, property crime accounted for nearly 86% of the total crime index in 2019, with larceny and theft being the largest contributing crimes. Because renters insurance covers theft, if your neighborhood has a high crime rate, you’ll have to pay more each month.
Average cost of renters insurance in Arizona
As we mentioned, the average cost of renters insurance in Arizona is $19.25 per month, but prices often vary depending on your location. Take a look at the following table for renters insurance pricing data for the top 15 most populous cities in AZ.
Average renters insurance costs in Arizona by city
|City||Average price (monthly)||Average price (yearly)|
|San Tan Valley||$18.16||$217.97|
In the next table, you’ll find renters insurance prices for the 11 most common insurance providers in the state. Also take note of the difference between each insurer’s average cost and the statewide average.
Average renters insurance costs in Arizona by insurer
|Insurer||Price||Difference from average|
Cheapest renters insurance in Arizona: State Farm
If you’re on a budget, the cheapest renters insurance in Arizona is offered by State Farm. Their policies cost around $11.47 per month on average — nearly $8 cheaper than the statewide average.
State Farm’s renters insurance policies are pretty boilerplate, but they have a few other selling points:
Pros of State Farm renters insurance in Arizona
- Large network of agents: You can connect with a local insurance agent in nearly every city in Arizona. From Tucson to Parker and anywhere in between, you can speak to a State Farm agent in person or over the phone to discuss your claim or coverage options.
- Standard replacement cost coverage: State Farm renters insurance policies include replacement cost coverage by default. This is one area where State Farm excels in comparison to their competitors — some of which offer actual cash value policies. Replacement cost coverage is typically more advantageous than ACV coverage because your insurer will reimburse you for the price of a brand new replacement if your item is covered. Actual cash value only pays out what the item is worth at the time it was stolen or damaged.
Cons of State Farm renters insurance in Arizona
- Poor website: As stated in our State Farm renters insurance review, their website leaves much to be desired. We found that it often timed out when using it, and simply didn’t function at times. Depending on your location, you may also be forced to call an agent directly rather than buy renters insurance through their website.
- Fewer deductible options: The lowest renters insurance deductible that State Farm offers is $500. If you ever file a claim, that’s the amount you’ll have to pay out-of-pocket before your policy kicks in and covers the remainder. Some of their competitors offer deductible options as low as $250. This isn’t always a downside, because the flip-side of a cheaper deductible is that your monthly premiums will be higher. State Farm’s high deductibles are one of the reasons they’re able to offer such cheap renters insurance rates.
Best overall renters insurance in Arizona: Nationwide
With the ever-present threat of wildfires across the West, having renters insurance with strong displacement coverage is paramount in Arizona. An underwritten policy purchased through one of Nationwide’s partner companies in the state gives you multiple choices for loss-of-use coverage (also known as additional living expenses coverage) should you ever have to relocate during a natural disaster or another covered peril.
Pros of a Nationwide renters insurance policy
- Actual loss sustained coverage: Nationwide provides significantly better loss-of-use coverage than their competitors. They provide it under an actual loss sustained basis, which in plain English means that there’s no hard limit on how much they’ll pay for your additional living expenses (such as your hotel fees). This is in contrast to most other renters insurance providers, who generally place limits on how much they’ll cover.
Cons of a Nationwide renters insurance policy
- No flood coverage: Nationwide’s partner companies unfortunately don’t cover property damage resulting from floods. While this isn’t uncommon, as flood damage isn’t often covered by renters insurance, it’s a severe drawback of Nationwide because major flash flooding occurs in various regions across Arizona — particularly along the Gila and Salt rivers. It’s important to consider your rental location before foregoing a flood insurance policy.
Other insurers you should consider in Arizona
Check out these other insurers that offer unique benefits to Arizona renters:
Best renters insurance for senior citizens: Allstate
Arizona boasts one of the highest percentages of senior citizens in the country — 18% of the population is over the age of 65. For senior citizens that rent on a fixed income or reside in an assisted living community, Allstate offers one of the most affordable renters insurance policies around.
Many seniors might not think they need renters insurance, especially if they live in an assisted-care facility. After all, the company managing the facility is responsible for their safety. However, most senior living facilities don’t offer personal property protection to their residents, which makes renters insurance necessary.
Benefits of an Allstate renters insurance policy
- Senior citizen discount: Allstate offers a generous 25% discount on premiums for their retired policyholders over 55. Note that you really do have to be retired to qualify — the offer is only valid if you aren’t actively working or seeking full-time employment.
Best renters insurance for bargain shoppers in Arizona: Liberty Mutual
For folks who love hunting for deals, a Liberty Mutual renters insurance policy offers some of the most competitive discounts on the market. They’re also the third-cheapest insurer on average in Arizona, behind Lemonade.
Discounts offered by a Liberty Mutual policy
- Early shopper discount: Liberty Mutual rewards early birds who start shopping for a new renters insurance policy before their current policy runs out.
- Online purchase discount: Buying your renters insurance policy through Liberty Mutual’s website will qualify you for a 12% discount (on average).
- Automatic payment discount: You’re eligible for additional savings when you enroll in autopay. When you link your bank account to your renters insurance policy, your premiums will automatically be deducted each month so your payments will always be on time.
- Policy bundling discounts: You can save even further when you opt for a multi-policy bundle with Liberty Mutual. To get this discount, purchase both your auto and renters insurance together, or ask an agent about bundling your policies if you already have one or the other.
- Claims-free discounts: This is one of the most common discounts offered by insurers. You can expect to save money on your renters insurance policy if you haven’t filed a claim in the last five years.
Learn more about renters insurance providers in Arizona
To learn more about the pros and cons of each insurer, check out our renters insurance reviews:
Other things you should know about renters insurance in Arizona
Below are a few frequently asked questions people have about renters insurance in the Grand Canyon State.
Is renters insurance mandatory in Arizona?
No, renters insurance is not mandatory in Arizona. There are no state laws requiring tenants to buy renters insurance in the state. However, many landlords require you to purchase a renters insurance policy before they’ll lease their apartment to you, which they’re legally entitled to do.
Is a credit check required to get renters insurance in Arizona?
Yes, a credit check is required to get renters insurance in Arizona. There are only seven states where you’re able to get renters insurance with no credit check: California, Hawaii, Maryland, Massachusetts, Michigan, Oregon, and Utah. Each of those states have legal restrictions on how your personal credit information is allowed to be gathered and used by companies.
How we gathered our data on Arizona renters insurance prices
Want to know how we gathered all this data on renters insurance costs in Arizona? We gathered quotes from major insurance companies in the 15 most populous cities in the state. Below you’ll find a table with all of our data.
We obtained quotes for someone with the following policyholder profile:
- Insured party: 30-year old male, employed, unmarried, with no pets
- Personal property coverage: $30,000
- Personal liability coverage: $100,000
- Guest medical coverage: $1,000
- Loss-of-use coverage: Insurer’s default (usually based off personal property coverage)
- Deductible: $500
As we mentioned earlier, the quotes we received are very likely going to differ from your own according to your own personal information and choice of renters insurance coverage. Also bear in mind that many providers require down payments and installation fees, which we didn’t factor in our data.
However, you can often waive those fees if you agree to use the preferred payment option specified by your agent or insurance company. For more information on reducing those extra costs, be sure to take a look at the different ways to get renters insurance with no down payment.
The average price of renters insurance in Arizona by city and insurer
For the table below, be sure to scroll left or right to see all the information on Arizona renters insurance costs by city and insurer.
|City||Allstate||Geico||Progressive||State Farm||Liberty Mutual||Nationwide||Lemonade||Midvale||Farmers|
|San Tan Valley||N/A||$22.41||$26.25||$10.67||$13.25||$20.57||$10.75||$17.08||$24.33|
Wherever you see “N/A”, that means that we were unable to receive a quote for that insurer in that city. Contact a local insurance agent if you need pricing data for those instances.
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