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Choosing the best renters insurance for an apartment isn’t just about finding the cheapest price—it’s about getting reliable coverage that protects your belongings and shields you from liability.
In this guide, we compare some of the top renters insurance companies for apartment dwellers in 2025, including coverage options, pricing, and who each provider is best for.
What Makes a Renters Insurance Policy “Best” for Apartments?
A strong renters insurance policy should include:
- Adequate personal property coverage
- At least $100,000 in liability protection
- Loss of use coverage
- Optional add-ons like replacement cost or water backup
Apartments often come with shared walls and neighbors—making liability coverage especially important.
Best Renters Insurance Companies for Apartments
1. Lemonade
Best for: Tech-savvy renters & fast setup
- Policies start around $5–$15/month
- App-based claims process
- Customizable coverage
Downside: Fewer discounts than traditional insurers
2. State Farm
Best for: Bundling with auto insurance
- Nationwide availability
- Strong customer service
- Multiple discount options
Downside: Online experience isn’t as streamlined
3. Allstate
Best for: Custom coverage options
- Add-ons for high-value items
- Solid claims reputation
- Discounts for safety features
Downside: Slightly higher premiums in some states
4. Progressive
Best for: Comparing multiple quotes
- Easy quote comparison
- Bundling opportunities
- Flexible policy options
Downside: Claims handled through partner insurers
Average Cost of Renters Insurance for Apartments
Most apartment renters pay:
- $10–$25 per month
- $120–$300 per year
Costs vary based on:
- Location
- Coverage limits
- Deductible
- Credit score (in some states)
How to Choose the Best Policy for Your Apartment
To get the best renters insurance:
- Estimate the value of your belongings
- Choose replacement cost coverage if possible
- Compare quotes from at least 3 insurers
- Look for bundle discounts
Is the Cheapest Renters Insurance Always Best?
Not necessarily.
The cheapest policy may:
- Have low coverage limits
- Exclude important protections
- Offer slower claims service
A slightly higher premium can provide much better peace of mind.
Final Verdict
The best renters insurance for apartments balances price, coverage, and reliability. Companies like Lemonade, State Farm, Allstate, and Progressive consistently rank among the top choices.
Comparing quotes is the fastest way to find the right policy for your apartment—and often the cheapest.