Who Has the Cheapest Renters Insurance in San Francisco?
Lemonade has the best cheap renters insurance in San Francisco, with average rates of $10 per month.
Find Cheap Renters Insurance Quotes in San Francisco
Best cheap renters insurance in San Francisco
Cheapest renters insurance companies in San Francisco
On average, San Francisco renters pay $18 per month for coverage.
Lemonade offers the cheapest renters insurance rates in San Francisco. Quotes average $10 per month, which is 44% cheaper than the average.
Find Cheap Renters Insurance Quotes in San Francisco
Cheapest renters insurance companies in San Francisco
Company | Monthly cost | |
|---|---|---|
| Lemonade | $10 |
| Farmers | $16 |
| State Farm | $17 |
| Allstate | $18 |
| Nationwide | $20 |
| Travelers | $21 |
| Amica | $27 |
Best insurance for most renters in SF: Lemonade
Monthly rate: $10 ?
Pros and cons
Lemonade offers the cheapest rates for San Francisco renters at $10 per month, on average. That's $8 per month cheaper than the San Francisco average.
Renters can get an online quote from Lemonade in only a few minutes, and you don't have to talk to an insurance agent to buy a policy. While this is great for most renters, the fact that Lemonade doesn't have agents may make it a bad choice for people who prefer to have a relationship with their agent.
Renters can count on Lemonade to help get back to normal quickly if their stuff is damaged.
It earned the third-highest score on J.D. Power's annual customer satisfaction survey, which means renters are generally happy with their experience at Lemonade. The company also receives fewer complaints than expected, according to the National Association of Insurance Commissioners (NAIC).
The main downside to Lemonade is that the company doesn't sell auto insurance in California, so renters in San Francisco who have a car can't save money by buying their renters and car insurance from one company. San Francisco has relatively low car ownership rates, so this may not be an issue for many renters in the city.
Best customer service in San Francisco: Amica
Monthly rate: $27 ?
Pros and cons
Amica has the best customer service we found among San Francisco renters insurance companies. Amica only receives about 12% as many complaints as other similar-sized insurance companies, according to the NAIC. That means renters are generally happy with how Amica handles their claims.
However, Amica's excellent service comes at a price. At $27 per month, or $321 per year, it's the most expensive renters insurance company in San Francisco.
Amica offers lots of discounts to help make renters insurance more affordable. It's unlikely that you would save enough for Amica's rates to be as cheap as those from Lemonade, though.
- Auto-pay discount
- Bundling discount
- Claim-free discount
- Loyalty discount
- Paperless discount
Amica doesn't offer earthquake insurance, so San Francisco renters need to buy coverage from a different company if they want to protect their belongings against earthquake damage.
Best for bundling insurance policies: State Farm
Monthly rate: $17 ?
Pros and cons
State Farm is the best option for San Francisco renters who prefer to buy all of their insurance policies from one company. Along with renters insurance, State Farm offers car, life, pet, business, health and disability insurance.
State Farm also offers earthquake insurance, which is something that all San Francisco renters should consider.
Having a single insurance company for all of your needs can make your life a lot easier if you're filing a claim that involves multiple policies, like if your belongings are stolen from your car.
Renters insurance rates from State Farm are cheaper than average in San Francisco, at $17 per month. Renters can get an average discount of 4.7% for bundling renters and auto insurance with State Farm. However, State Farm offers fewer discounts than most other renters insurance companies.
Best renters insurance in San Francisco
Amica is the best-rated renters insurance company in San Francisco.
Amica has excellent customer service reviews and low rates of complaints, and it provides a high value to its customers. However, coverage from Amica is expensive, so it may not be affordable for some San Francisco renters.
Renters on a budget should compare quotes from Lemonade — it earned a high score on J.D. Power's customer satisfaction survey and gets fewer complaints than other companies, according to the NAIC.
Company |
Rating
|
|---|---|
| Amica | |
| USAA | |
| Lemonade | |
| State Farm | |
| Nationwide |
An insurance company with a reputation for good service can help you get your life back to normal quickly if your stuff is damaged or stolen. If you choose a company with poor customer service, you may have to wait longer or pay more out of pocket to replace your things.
Why do San Francisco renters need insurance?
Renters insurance provides affordable protection for damage to or theft of your belongings, legal liability and the costs of living elsewhere if your apartment becomes uninhabitable.
Renters insurance coverage options
- Personal property: If your belongings are damaged by a fire or stolen from your apartment, your renters insurance policy helps pay to replace them.
- Personal liability: If you're responsible for injuries to other people or for damaging their property, liability coverage pays for their damages and your legal defense, up to your coverage limits.
- Additional living expenses: This feature helps pay for your living expenses if your home becomes uninhabitable after a covered event. For example, it can cover the cost of staying in an Airbnb if a fire damages your apartment.
Beyond basic renters insurance, San Francisco renters should take extra precautions to fully insure their personal belongings against potential dangers.
Given its proximity to active fault lines, San Francisco is prone to earthquakes, which are not covered by most renters insurance policies.
Renters in San Francisco should check if they can get flood and earthquake insurance from their renters insurance company. Your company may underwrite the policy, partner with another insurance company to provide you coverage or offer you government-backed insurance through the California Earthquake Authority or National Flood Insurance Program.
Frequently asked questions
How much is renters insurance in San Francisco?
Renters insurance in San Francisco costs around $18 per month, or $221 per year. Lemonade offers the cheapest rates in the city, at $10 per month, on average.
Do you need renters insurance in San Francisco?
Renters insurance is not required by law in San Francisco or any other city, but your landlord may include a requirement for renters insurance in your lease. There are no laws against landlords asking you to buy a policy in order to rent their property.
Who has the best renters insurance in SF?
Lemonade has the best renters insurance in San Francisco for most people. It offers the cheapest rates in the city and has dependable customer service.
Does renters insurance in San Francisco cover earthquake damage?
Most renters insurance policies do not cover earthquake damage. Some companies — like State Farm, Farmers and Nationwide — sell separate earthquake insurance policies, so you can get all of the coverage you need from one company.
Methodology
To find the best renters insurance in SF, we considered three main factors: price, coverage quality and customer service reputation.
Average costs for renters insurance in San Francisco were found by collecting quotes from seven of the largest insurance companies in the Bay Area that offer quotes online.
Quotes are based on a 25-year-old single man with no roommates or pets and no history of insurance claims. Quotes include $30,000 in personal property coverage and $100,000 in liability coverage.
Coverage | Limit |
|---|---|
| Personal property | $30,000 |
| Personal liability | $100,000 |
| Medical payments | $1,000 |
| Deductible | $500 |
To find the best customer service, we considered information from three sources:
- The National Association of Insurance Commissioners (NAIC) Complaint Index scores insurance companies based on the number of complaints they receive relative to their size.
- The J.D. Power annual renters insurance customer satisfaction survey asks customers about how satisfied they are with their insurance company in a number of areas, including claims processes, policy offerings, price, billing and shopping experience.
- Our ValuePenguin editor rating is based on customer service ratings, coverage availability and options, and the overall value a company provides to its customers.