Table of Contents
- How much does renters insurance cost in Austin?
- Average price of renters insurance in Austin
- The cheapest renters insurance in Austin: Lemonade
- The best renters insurance in Austin: State Farm
- Other Austin renters insurance providers you should consider
- How to learn more about renters insurance providers in Austin
- What else do you need to know about renters insurance in Austin?
- How we gathered our data on Austin renters insurance prices
How much does renters insurance cost in Austin?
On average, renters insurance in Austin costs around $19.49 per month, which is slightly lower than both the national average ($20 per month) and the average price of renters insurance in Texas ($22.75 per month). It’s also significantly cheaper than the prices in some of Texas’s other major cities, such as Houston, where renters insurance costs upwards of $28 per month.
Progressive offers the highest rates of any major insurer, with rates that average $27.54 per month. Lemonade offers the lowest prices at $13.84 per month on average.
Major factors that affect renters insurance prices in Austin, TX
The price of renters insurance in Austin is affected by the following factors:
- Weather: Cities that are prone to extreme weather tend to have higher renters insurance rates. For instance, because Austin is prone to droughts, most insurers raise their prices due to the associated fire risk.
- Crime rates: Your neighborhood’s crime rate will affect your monthly renters insurance premiums. Austin is a relatively safe place to live, which is why its prices are below the statewide average, but like all cities, it has areas with higher crime rates where you might have to pay more.
- Your deductible: Your provider assumes more risk when you choose a lower renters insurance deductible (the amount you’re responsible for paying when you file a claim), which means they’ll charge you more each month. Conversely, when you opt for a higher deductible, they’ll charge you less.
- Your coverage and claims history: The more insurance you purchase, the costlier your monthly payments will be. Likewise, if you’ve filed a lot of insurance claims in the past, that might also lead to a hike in rates.
Average price of renters insurance in Austin
The following table displays the average price offered by every major renters insurance provider in Austin, TX. It also shows how their rates compare to the state average.
| Insurer | Price (monthly) | Price (yearly) | Difference from average |
|---|---|---|---|
| Allstate | $18.00 | $216.00 | -$1.22 |
| Geico | $21.08 | $252.96 | +$1.86 |
| Progressive | $27.54 | $330.48 | +$8.32 |
| State Farm | $19.87 | $238.44 | +$0.65 |
| Liberty Mutual | $17.17 | $206.04 | -$2.05 |
| Nationwide | $18.14 | $217.68 | -$1.08 |
| Lemonade | $13.84 | $166.08 | -$5.38 |
We explain how we gathered this pricing data at the bottom of this article.
The cheapest renters insurance in Austin: Lemonade
Lemonade provides the cheapest renters insurance in Austin, with policies averaging $13.84 per month. Lemonade’s renters insurance is around $64 cheaper on a yearly basis than the statewide average.
Should you get Lemonade’s renters insurance in Austin?
We all want to get the best value for our money, and Lemonade’s renters insurance is the most affordable in Austin. But does that make it the best? That depends on what you’re looking for.
Lemonade cuts costs and passes on the savings to you by automatically processing many claims with AI, which lets them retain a smaller staff with no physical (retail) outlets. That’s good for your pocketbook, but not good if you need customer support when filing a complex claim or changing your policy.
Before you sign on the dotted line, here are a few pros and cons of choosing Lemonade:
Advantages of Lemonade’s renters insurance in Austin
- Lemonade’s app: Lemonade processes all of their insurance claims through their mobile app, which is great for people who dread speaking to insurance agents on the phone.
- $0 deductible: Lemonade is the only insurance company we know of that offers a $0 deductible in Texas. Although opting for a policy with no deductible means paying higher premiums each month, it also means that when you file a claim, you’ll receive a full reimbursement for your lost property — you won’t have to pay one cent yourself.
Disadvantages of Lemonade renters insurance in Austin
- Short track record: Since Lemonade hasn’t been around as long as their competitors, it’s tough to predict whether they have the staying power to last through more than a few major disasters (such as 2021’s Texas freeze, which was very costly for renters and homeowners insurance providers).
- Sub-par customer service: Although Lemonade has a lot of fans, many people have also complained about their customer service and claims handling process. Sometimes a small bump in monthly rates is well worth it if you need the ability to contact a live insurance adjuster or agent, which you won’t get with Lemonade.
Overall, if you want the cheapest renters insurance in Austin, Lemonade is a good option. However, if you have a little wiggle room in your budget, it’s worth looking at some of your other choices as well.
The best renters insurance in Austin: State Farm
State Farm’s renters insurance costs about $19.87 per month, which is very close to the state’s average.
State Farm really shines when it comes to customer service. They’re a household name with a fleet of seasoned agents and a lot of brick-and-mortar locations, so you’ll always be able to contact someone quickly if you need help.
They also offer a few renters insurance riders that you’ll have trouble finding elsewhere.
Pros of State Farm’s renters insurance in Austin
- Cyber event coverage: State Farm is one of the only providers that offers a rider that covers cybercrime, including ransomware and data breaches. Getting this rider is a good idea if you conduct a lot of business online, which is especially relevant to residents of the Austin area since many big tech companies are establishing themselves there.
- Replacement cost coverage: All of State Farm’s policies provide replacement cost coverage on lost or stolen items, rather than the less comprehensive actual cash value coverage that some of their competitors default to.
- Personalized service: As mentioned, State Farm maintains an extensive network of agents and locations, which makes it a whole lot easier to get in touch with an actual person if you need to.
Disadvantages of State Farm’s renters insurance in Austin
- Cost: State Farm isn’t the cheapest option in Austin. If you’re only getting a policy because your landlord requires renters insurance and you don’t ever expect to need or want personalized service from an agent, you might be happier with a cheaper option like Lemonade or Liberty Mutual.
- Lack of deductible options: The lowest deductible you can select on the company’s website is $500, which can also make it harder to cut costs. (Many other companies start at $250.)
These disadvantages aren’t that bad, so all things considered, we found that State Farm offered the best renters insurance coverage for the price in Austin, TX.
Other Austin renters insurance providers you should consider
Other insurers in Austin may offer coverage better tailored to your individual needs. We’ve also compared renters insurance companies in Austin for:
- Car owners / people with auto insurance
- Dog owners
- Military servicemembers and veterans
- College students and first-time renters
Best Austin renters insurance for military service members and veterans: USAA
USAA’s renters insurance policies are only available to military personnel, veterans, and the spouses and children of USAA members. If you qualify, we recommend getting their renters insurance. USAA’s reputation for customer service and claims handling is second to none.
USAA is a particularly good choice in Austin because their renters insurance covers flooding, which almost no other providers cover. Austin has seen its share of flash floods, so USAA’s flood coverage is a big deal here.
Best Austin renters insurance for dog owners: State Farm
Austin has plenty of dog-friendly outdoor dining and dog-centric things to do, making it a great place to live if you love your furry bestie.
If you’re a dog owner, you need renters insurance that covers dog bites. However, if you own a large dog, finding a policy can be difficult, as many insurers refuse to cover pit bulls or other breeds that they consider “dangerous.”
If you own a commonly blacklisted breed, look into State Farm. They have a policy of never asking about your dog’s breed when you buy renters insurance, although they do reserve the right to ask whether your dog has a bite history.
Best Austin renters insurance for college students and first-time renters: Lemonade
Many first-time renters and students are looking for affordable rates above all else. As we noted above, Lemonade’s policies are inexpensive and straightforward. Although they have several downsides that make them a questionable choice in the long-term, they’re a great option if you’re moving into your first apartment and you don’t need to insure a ton of stuff.
Best Austin renters insurance if you already have auto insurance: your current insurer
Most insurance providers offer discounts when you bundle your insurance policies, which just means “buy your policies together.” For instance, when you buy auto and renters insurance together, you can often get a discount on one or both policies.
If you own a car (in which case you legally have to have auto insurance), this is usually the cheapest and easiest way to get renters insurance. Call your current insurer and ask what kind of discount they’re willing to offer if you take out a renters insurance policy.
How to learn more about renters insurance providers in Austin
For more information, have a look at our renters insurance reviews. We break down each company’s strengths and weaknesses and the metrics that different organizations use to rate them (such as their J.D. Power and AM Best ratings.)
Read our renters insurance reviews for:
What else do you need to know about renters insurance in Austin?
Insurance rates and coverage vary by city and state. Here’s a few other things you should know when shopping for renters insurance in Austin:
Renters insurance always covers fire, but almost never covers flooding
All renters insurance policies cover fire, including wildfires. This is good news for Austin residents — the city is so drought-prone that many buildings present a significant fire risk.
Unfortunately, Austin is also prone to flash flooding, which renters insurance almost never covers (USAA is the only exception). The good news is that many companies offer separate flood insurance through a government program called the National Flood Insurance Program (NFIP). Call your insurer to find out if they work with the NFIP, or call the NFIP’s referral center at 888-379-9531.
Does renters insurance require a credit check in Austin?
Yes, renters insurance usually requires a credit check in Austin. Under Texas law, it’s perfectly legal for insurance companies to factor your credit history into the prices they offer you. If you have a high credit score, you’ll almost always get cheaper renters insurance, and vice versa.
Fortunately, the kind of check that insurers perform is a soft inquiry or soft pull, which means it won’t affect your credit score. For more information, see our guide on how to get renters insurance with no credit check.
Can landlords require renters insurance in Austin?
Yes, landlords can require renters insurance in Austin. This is the case in most of the country, with the exception of Oklahoma, where state law prohibits landlords from making renters insurance mandatory.
How we gathered our data on Austin renters insurance prices
To find out the average price of renters insurance in Austin, we obtained quotes from every major insurance provider within the city.
Our quotes assume 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
Unless you’re a 30-year-old unmarried male, you’ll receive slightly different quotes than we did, as insurers consider demographics when determining pricing. The good news is that renters insurance is inexpensive, so you can expect reasonable quotes pretty much across the board.
Note that our quotes don’t include installation fees or down payments. For more information about what these charges are and how to avoid them, check out our guide on how to get renters insurance with no down payment.
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