Table of Contents
- How much does renters insurance cost in San Diego?
- Average price of renters insurance in San Diego
- The cheapest renters insurance in San Diego: Liberty Mutual
- The best renters insurance in San Diego: Nationwide
- Other San Diego renters insurance providers you should consider
- What else do you need to know about renters insurance in San Diego?
- How we gathered our data on San Diego renters insurance prices
How much does renters insurance cost in San Diego?
The average price of renters insurance in San Diego is $14.70 per month, cheaper than the national average of $20 per month. The highest price we found was offered by Farmers ($19.78), and the lowest was offered by Liberty Mutual ($11.25).
Renters insurance costs less in San Diego than California’s statewide average price of $16.44 per month. This is because, although San Diego is one of the largest cities in the United States, with a population of around 1.5 million, its crime rate is lower than the state’s average. (Policies cost more in cities with higher crime rates because renters insurance covers theft and vandalism.)
Geography is also a major factor in renters insurance pricing. If you live in an area that’s prone to extreme weather or natural disasters, then you can expect to pay more for renters insurance. While San Diego’s climate is temperate, with dry summers and mild winters, the forests on the perimeters of the city are prone to wildfires. San Diego also lies on the San Jacinto Fault, and earthquakes occasionally cause structural damage.
Other major factors that affect renters insurance pricing include:
- Your coverage: If you want to increase your protection, then you can opt for a higher amount of personal property coverage or add an endorsement or rider to your policy, but this means paying more for your monthly renters insurance premium.
- Your deductible: Choosing a lower renters insurance deductible (the amount that you’re responsible for paying when you file a claim) pretty much always means you’ll have to pay more per month.
- Discounts: To varying extents, most companies offer discounts on renters insurance. The most common ways of saving money include buying more insurance policies with the same company (such as auto, pet, or life insurance), installing home safety devices such as fire alarms or security systems, and going several years without filing a claim.
Average price of renters insurance in San Diego
This table compares the average monthly and yearly cost of renters insurance offered by major insurers in San Diego. It also shows how these prices differ from the citywide average for all the companies.
|Difference from average
The cheapest renters insurance in San Diego: Liberty Mutual
Liberty Mutual is the cheapest renters insurance provider in San Diego. Its average rate of $11.25 edges out Lemonade, its closest competitor, by $0.59 per month. This price is significantly lower than the national average and will save you over a hundred dollars annually compared to the most expensive option (Farmers).
Should you get Liberty Mutual’s renters insurance in San Diego?
Low prices aren’t the company’s only advantage. Liberty Mutual is a well-known and financially stable insurer with good long-term prospects. However, there are also some disadvantages to their renters insurance that you should consider alongside the benefits.
Benefits of Liberty Mutual’s renters insurance in San Diego
- Customizability: Liberty Mutual’s standard renters insurance policies are pretty basic, but if you want more protection, you can increase your coverage for jewelry and other valuable possessions and choose add-ons to cover identity theft and even inflation. You can also add earthquake coverage to your policy through the California Earthquake Authority, which we discuss in more detail near the end of this article.
- Numerous discounts: In addition to offering lower prices, Liberty Mutual also offers more opportunities to save money than nearly all of their competitors, including discounts for renovating your home, buying insurance online, and enrolling in autopay.
- Simplicity: Because of their emphasis on add-ons, you’re unlikely to pay for services you don’t need with Liberty Mutual. You can also easily sign up for a policy and file claims through their website and mobile app.
Disadvantages of Liberty Mutual’s renters insurance in San Diego
- Basic standard coverage: Although you have several options for customizing your policy, the standard renters insurance you get with Liberty Mutual is nothing special. Moreover, their policies provide a maximum of $25,000 in personal property coverage, which is part of why their prices are so low.
- Low customer satisfaction: Recently, Liberty Mutual’s customer service ratings have been mediocre. In their 2020 annual survey, D. Power ranked Liberty Mutual 11th out of 14 renters insurance providers. Although most survey respondents still assessed the company favorably, Liberty Mutual receives more complaints than other major insurance providers do.
What you should take away
Overall, the company’s prices, flexibility, and long track record make it a decent choice for renters insurance in San Diego, though it isn’t our number one recommendation.
The best renters insurance in San Diego: Nationwide
Like Liberty Mutual, Nationwide is one of the oldest and largest insurance providers in the United States. Their average monthly price of $13.70 for renters insurance is higher than Liberty Mutual’s, but it’s still below the city average and gets you a generous amount of additional coverage. Their customer approval ratings are also a little higher.
Benefits of Nationwide’s renters insurance in San Diego
- Extensive coverage: Nationwide’s standard policies surpass Liberty Mutual’s by including coverage for credit fraud and building fixtures that you’ve added to your home (such as a new light fixture that you paid for). Nationwide also provides replacement cost coverage for your possessions.
- Ease of use: Nationwide is known for a combination of a streamlined online system and having many available agents. If you’re a member, the company will even throw in a free insurance consultation to evaluate your chosen policies and your coverage needs, which is definitely a plus if you’re buying multiple types of insurance.
Disadvantages of Nationwide’s renters insurance in San Diego
- Limited availability: Unlike some other companies (like State Farm and Allstate), Nationwide doesn’t provide 24/7 customer support. If you have a question about your policy, then you’ll have to call between 8 am and 11 pm ET. They’re also not available in every state, so you’ll have to switch providers if you move to New Mexico, Louisiana, New Jersey, Massachusetts, Florida, Alaska, or Hawaii.
Other San Diego renters insurance providers you should consider
Although Nationwide is an excellent choice for most San Diego residents, it’s important to choose the provider that best suits your particular needs. Below are our renters insurance recommendations for:
- Military service members
- College students and first-time renters
- Business owners
Best San Diego renters insurance for military service members and veterans: USAA
However, only military service members, veterans, and their families are eligible for USAA insurance. San Diego has a strong military presence, meaning that a relatively high proportion of the population can take advantage of their comprehensive policies. If you’re eligible, then we recommend USAA for its excellent customer service, handling of claims, and broad coverage.
Best San Diego renters insurance for college students and first-time renters: Lemonade
Millennials and people under the age of 18 account for half the population of San Diego, and the city’s campuses attract students from across the state. If you’re moving into your first apartment or you’re one of the many students or young adults who aren’t sure what renters insurance is, then Lemonade has some big advantages.
Lemonade offers some of the cheapest renters insurance you can get in San Diego. They’re known for their efficiency, emphasis on digital platforms, and ability to resolve simple claims in seconds using AI. In keeping with their forward-thinking brand identity, Lemonade also donates some of their profits to a charity of your choice.
We don’t recommend Lemonade for everyone
If you’re used to traditional customer service, then you may find the company’s digital focus somewhat jarring. They’re also a new company that lacks the decades-long track record of many of their competitors, meaning that their long-term financial stability is uncertain. However, if you’re buying renters insurance for the first time and don’t necessarily plan on sticking with your first insurer for life, then their untested business model shouldn’t be a major concern.
Best San Diego renters insurance for business owners: State Farm
Although San Diego is far south of the glittering lights of Silicon Valley, it’s becoming an entrepreneurial hub in its own right. All San Diego business owners should consider choosing State Farm for its unique renters insurance options, including coverage for work-related lawsuits, damaged equipment, and loss of profit (if your company shuts down due to a covered renters insurance peril).
Most renters insurance providers don’t cover business property at all in their standard policies, but State Farm does. Although you’ll have to pay a little more than the citywide average for renters insurance, the price of their policies is still below the state mean price of $16.16 per month. If you’re a business owner who wants added protection, then paying the extra dollars is worth it.
What else do you need to know about renters insurance in San Diego?
When it comes to renters insurance, it’s important to be aware of local regulations and the factors that might affect your coverage needs and expenses. In this section, we’ll cover the main points you need to know about renters insurance in San Diego.
Does renters insurance cover natural disasters?
As we mentioned earlier, San Diego’s geography makes it more prone to natural disasters than most other cities in California, and additional coverage is a smart investment. Renters insurance doesn’t cover all natural disasters, but you can always increase your amount of coverage or purchase separate policies.
Natural disasters in San Diego that are always covered
- Wildfires: Renters insurance covers all fires, including wildfires. This is welcome news, as brush fires burn almost perpetually at the edge of the city.
Natural disasters in San Diego that are never covered
- Earthquakes: Your insurer may offer optional earthquake coverage, but earthquakes are almost never covered under standard policies. We recommend getting earthquake insurance through the California Earthquake Authority, which is a non-profit organization that generally offers low prices (less than $10). To find out how much it’ll cost, you can visit their website for an estimate.
- Floods: Like earthquakes, floods aren’t usually covered by renters insurance. However, you can get flood insurance through the National Flood Insurance Program, which we highly recommend doing, particularly if you live along the shoreline.
Is a credit check required for renters insurance in San Diego?
No, renters insurance doesn’t require a credit check in San Diego. This is due to California’s state-wide ban on companies using credit-based insurance scores to price their policies, which makes it one of the only states where you can get renters insurance with no credit check.
Can landlords require renters insurance in San Diego?
Yes, landlords can require renters insurance in San Diego. Although you are not legally required to have renters insurance, landlords typically include it as a requirement in their rental agreements. Doing so makes it clear to everyone that the tenant alone is responsible for paying for stolen or damaged property.
How we gathered our data on San Diego renters insurance prices
To get the data that we used in this article, we solicited renters insurance quotes from every major insurance company in the city. Our quotes assumed the following:
- 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
Factors like your age, employment status, and living circumstances influence the price of renters insurance, so your quotes might differ from ours. However, because the average monthly price of renters insurance is so low, the difference probably won’t amount to more than a few dollars in either direction.
The quotes we cited also don’t include initial down payments or installation fees, which some insurers charge. You can usually avoid paying these; to learn how, read our article on how to get renters insurance with no down payment.
- What is guest medical coverage in renters insurance?
- What is a sub-limit in renters insurance?
- Does renters insurance cover home-based businesses?
- Does renters insurance cover gold or silver bullion?
- What does "dependent in the care of" mean in renters insurance?
- Does State Farm renters insurance cover hotel stays?