Houston has over 2.3 million residents, most drawn to the city because of its world-renowned food scene, vibrant nightlife, and rich history of discovery and innovation. While Houston’s population is diverse, most residents can all agree that feeling safe and protected in their apartment is important. One way to do that is finding the right renters insurance, and we can help.
The Best Renters Insurance in Houston:
- Best Overall in Houston: Nationwide
- Cheapest Renters Insurance in Houston: Liberty Mutual
- Best for Natural Disaster Protection: USAA
- Best for Convenience: Lemonade
- Best for Customer Satisfaction: Farmers
- The Best Renters Insurance in Houston:
- Renters Insurance in Houston: An Overview
- Average Annual Renters Insurance Premium in Houston
- Renters Insurance Coverage Explained
- Inclement Weather and Nature-Related Risks in Houston
- Best Renters Insurance Providers in Houston
- Houston, Where Comfort Doesn’t Only Apply to Food
Renters Insurance in Houston: An Overview
Recently, Houston saw a big increase in families renting instead of owning. Between 2006 and 2016, Houston saw an increase of 107,000 households renting instead of owning due to lack of single-family homes on the market and increased prices. Instead of purchasing a home, many young families are opting to rent not just apartments or condos but small homes. This makes renters insurance even more of a necessity.
Not to be confused with homeowners insurance, renters insurance offers protection to tenants renting an apartment or house, whether it be their property or a personal injury. While not every lease requires the tenant show proof of renters insurance, it’s often a smart idea to still go for it, especially in a city like Houston that’s prone to natural disasters.
Average Annual Renters Insurance Premium in Houston
The average annual renters insurance premium in Houston is $532. That’s a little more than $100 over the state’s average. But don’t fret. That amount doesn’t take into consideration the possible discounts insurers offer:
- Anti-theft: The cost of your insurance can go down if you have a security system installed or have protective devices like fire alarms.
- Multi-policy: If you also need automobile insurance, life insurance, or any other type of policy, many insurers will give you a discount for bundling them all through them.
- Paperless billing: Care about the environment? That could get you further discounts. Just opt to have your bills emailed instead of mailed, saving paper in more than one sense.
- Automatic payments: A lot of insurers will offer discounts if you choose to have the monthly or yearly payments automatically taken from your bank account or card.
- Non-smoking household: If you’re not a smoker, you could qualify for another discount with some insurance companies.
- Gated community: If you live in a gated community you might qualify for a cheaper premium. Apartments with security can also qualify for discounts with some companies.
- Loyalty: When it comes time to renew your plan, you can oftentimes save money if you go with the same insurer.
Renters Insurance Coverage Explained
So what’s the point of renters insurance? If there’s a robbery or apartment fire, renters insurance will offer financial reimbursement to tenants who had their possessions lost or damaged.
Renters insurance helps protect you against these unforeseen circumstances, as well as visitors. Many plans will also cover your liability if a guest is injured while at your home, taking care of medical expenses depending who was at fault.
Basic renters insurance plans cover the majority of your property. But there are some household items that require additional add-ons to your plan. This includes firearms, electronics and jewelry. There are also additional options for identity protection services, covering the costs of getting your identity back if it’s stolen.
Inclement Weather and Nature-Related Risks in Houston
Renters insurance can get a bit tricky is when it comes to natural disasters. Many new customers are surprised to learn that not all natural disasters are covered in standard renters insurance plans, meaning you’ll have to talk with each company about which add-ons are right for you.
Hail, fire, rain and wind are natural disasters often covered by renters insurance. But that might not be enough for cities like Houston, which was recently ranked as one of the riskiest places to live in the country when it comes to natural disasters. This was due to the devastation of Hurricane Irma and Hurricane Harvey in 2017. The state as a whole was ranked first in the U.S. for variety and frequency of natural disasters thanks to consistent flooding, wildfires, tornadoes, sinkholes and even earthquakes. These are incidents you may want to consider when choosing a plan.
Best Renters Insurance Providers in Houston
When it comes to finding the right renters insurance provider in Houston, it’s not just about price. It’s often about finding a comprehensive basic renters insurance plan or finding a company that offers a good amount of additional options or customization. We’ve found some of the best providers in Houston for you to consider.
1. Best Overall in Houston: Nationwide
With an average yearly premium of $316, Nationwide is an affordable renters insurance provider that also offers a lot of customizable plans and coverage. Its basic renters insurance plan covers a lot more than your lost furniture and clothing.
- Loss of use: It also provides reimbursement for additional living expenses when a covered loss prevents you from living at your current apartment or rented home.
- Personal liability: Nationwide will help cover damage or bodily injury caused by an accident that occurs in your space.
- Medical payments to others: There’s help covering medical — or even funeral — expenses for someone who was injured on your property.
- Building additions and alterations: This pays for covered damages to additional fixtures, installments and other improvements to your home.
- Credit card coverage: Nationwide will also partially pay you back for unauthorized transactions made on your credit cards and debit cards. This also applies to forged checks and counterfeit money.
This trustworthy insurance provider also offers additional coverage options, like flood protection and coverage for high-value items like jewelry. Its website makes it easy to track claims and you can expect to get paid in a timely fashion.
2. Cheapest Renters Insurance in Houston: Liberty Mutual
Liberty Mutual’s average cost in Texas is well below the state’s average at just $265 per year. But that’s before you consider all of the insurer’s discount options. And there are a lot of them when compared to other renters insurance providers in the marketplace.
- Claims-free: If you haven’t filed a claim with your past insurer for the past 5 years, you’re eligible for a discount.
- Military discount: Active? Retired? There’s a discount for that, too.
- Early shopper discount: Save up to 45% if you quote with Liberty before your current renters insurance policy expires.
- Smart home: Whether it’s smart lights, a smart thermostat or a smart security system, Liberty Mutual offers discounts to tenants who make their place more efficient.
- Protective devices: Even sprinklers and deadbolts count toward this discount at Liberty Mutual.
When it comes to your plan itself, Liberty Mutual offers a lot of discounts for that as well. There’s a discount for enrolling in multiple insurance plans, opting for automatic payments, buying the policy online and having bills emailed to you.
3. Best for Natural Disaster Protection: USAA
While Houston has its fair share of southern food joints and nightlife attractions, the city is also known for attracting a fair amount of natural disasters. Most renters insurance plans cover the basics, like fires and hail, but most plans require additional add-ons for an additional cost if you’re looking for even more natural disaster coverage.
USAA, on the other hand, offers not just coverage against fires but floods and earthquakes. Earthquakes take place in Texas more frequently than most places in the country thanks to the state’s use of natural oil, gas and water reserves. Flood and earthquake protection is not commonly included in basic renters insurance premiums, so this is definitely a plus for Houston residents.
4. Best for Convenience: Lemonade
The median age of Houston residents is just 33 years old, a bit lower than the U.S. median age. For many younger insurance customers, it’s all about quick convenience rather than waiting on the phone for customer service support. Lemonade is perfect for that, since it’s a technology-focused company that lets you keep track of your account on an easy-to-use app.
All quotes and claims are done exclusively through Lemonade’s app and website. Lemonade is also pretty darn cheap, although it has high deductibles and very basic coverage. But it’s a good start.
5. Best for Customer Satisfaction: Farmers
Farmers is the most expensive renters insurance company in Texas on average, coming in at $764. But many families stick with Farmers because of the company’s “customer first” policy.
The 90-year-old company knows its stuff and it has many agents ready to help you, whether it’s getting a quote or filing a claim. Its experienced claims representatives are also available 24/7 to help guide you through the claims process. In the event of a large-scale disaster, Farmers may even dispatch a Catastrophe Response Team to process claims on-site.
If you don’t feel like speaking to a human (it happens), Farmers has an up-to-date blog that answers a lot of frequently asked questions.
Houston, Where Comfort Doesn’t Only Apply to Food
Chicken-fried steak. Cajun crawfish. Breakfast tacos. When it comes to culinary delights, Houston is all about comfort food that’s big on flavor and big on serving sizes. Houston also goes big when it comes to technology, museums, and yes, natural disasters.
Renters insurance is an important thing to consider if you’re planning to move to Houston or renew your lease. It can be a little confusing at first, but we’re here to make it easy to find the right plan for you, your family and your belongings. Get fast, customizable quotes here by simply entering your ZIP code.
Life Coming at You Fast?
Toggle isn’t your everyday insurance company. In fact, it’s changed the renters insurance landscape. Case in point: You have complete control every step of the way. Toggle makes insurance easier to understand (and offers total flexibility!) and guess what? Toggle can even keep up with you and your crazy-busy, ever-changing life.