Best and Cheapest Renters Insurance in Alabama for 2024 (10 Most Affordable Companies)
USAA, Travelers, and Geico provide the best and cheapest renters insurance in Alabama. Starting with just $20 per month with USAA, the companies offer many benefits to renters in Alabama.
Specifically, USAA offers the cheapest renters insurance for military families in Alabama, while Travelers provides cheap comprehensive coverage and affordable rates by Geico.
| Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 |
#1 | $20 | A++ | Military Families | USAA |
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#2 | $28 | A++ | Comprehensive Coverage | Travelers |
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#3 | $32 | A++ | Affordable Rates | Geico |
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#4 | $34 | A+ | Personalized Plans | Nationwide |
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#5 | $37 | A | Customer Satisfaction | American Family |
 |
#6 | $38 | A+ | Bundling Policies | Allstate |
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#7 | $30 | B | Local Agents | State Farm |
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#8 | $40 | A+ | Tight Budget | Progressive |
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#9 | $48 | A | Many Discounts | Farmers |
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#10 | $58 | A | Customizable Coverage | Liberty Mutual |
The monthly average cost of renters insurance in Alabama varies by provider, ranging from $20 to $58 for minimum and $56 to $162 for full coverage. Find your area's best and cheapest renters insurance by entering your zip code above into our free quote tool.
What You Should Know
- USAA offers the best and cheapest renters insurance in Alabama for military families
- Travelers balances affordability and comprehensive coverage
- Geico excels in affordable rates and multi-policy discounts
#1 – USAA: Top Overall Pick
Pros
- Military Families: As seen in our USAA review, it offers tailored insurance policies for renters with military backgrounds in Alabama.
- Replacement Cost Coverage: Gives full reimbursement to renters for damaged or stolen items without depreciation.
- Exceptional Customer Service: Known for assisting renters promptly and effectively in Alabama.
Cons
- Limited Eligibility: It is only available to renters who are military members, veterans, and their families in Alabama.
- No Local Agents: Relies on online or phone services, which may not suit renters seeking in-person assistance.
#2 – Travelers: Best and Cheapest for Comprehensive Coverage
Pros
- Flexible Payment Options: Allows renters to manage premiums with monthly payment plans.
- Comprehensive Coverage: Includes valuables options for the best and cheapest renters insurance in Alabama. Learn more in our Travelers Review.
- Additional Coverage Options: Offers identity theft and personal liability add-ons for renters insurance.
Cons
- High Premiums for Add-Ons: Extra coverage can increase the cost of renters insurance beyond the cheapest options in Alabama.
- Limited Discounts: Renters have fewer savings opportunities compared to competitors.
#3 – Geico: Best and Cheapest for Affordable Rates
Pros
- Online Tools: Online tools are available to manage renters' insurance and claims.
- Multi-Policy Discounts: Bundling renters insurance with other policies yields more savings.
- Affordable Rates: It is known for offering the best and cheapest renters insurance in Alabama with competitive pricing. Read our Geico review for more information.
Cons
- Third-Party Underwriting: Renters insurance policies are underwritten by partner companies, not directly by Geico.
- Basic Coverage: It may lack some comprehensive options for renters insurance with other providers.
#4 – Nationwide: Best and Cheapest for Personalized Plans
Pros
- Personalized Plans: Our Nationwide review highlights having customizable policies makes it a top choice for the best and cheapest renters insurance in Alabama.
- Claims-Free Discounts: It rewards renters who maintain a claims-free record in Alabama.
- Broad Network: Nationwide has many local agents in Alabama who are ready to help renters anytime.
Cons
- Limited Online Features: It has a less advanced online tool than its competitors, which may cause a concern for some renters in Alabama.
- Higher Premiums for Customization: Opting for personalized renters insurance plans may cost more than standard policies.
#5 – American Family: Best and Cheapest for Customer Satisfaction
Pros
- Unique Coverage Options: It has unique coverage options like identity theft add-ons and travel protection to go with renters insurance, making it convenient for tenants who travel a lot.
- Customer Satisfaction: It is known for having positive feedback on claims handling and affordability, making it one of the best and cheapest renters insurance in Alabama. Read more in our American Family review.
- Safe Home Discount: Renters with safety measure devices like fire alarms in their homes receive discounts.
Cons
- Availability Issues: Renters insurance coverage may not extend to all parts of Alabama.
- Fewer Discounts: It has limited discount opportunities for renters compared to larger insurers.
#6 – Allstate: Best and Cheapest for Bundling Policies
Pros
- Quick Claims Process: Has swift claims processing for renters insurance.
- Optional Coverage: It offers renters protection for their expensive electronics or collectibles.
- Bundling Discounts: Our Allstate review emphasizes 25% discounts by bundling policies, making it one of the best and cheapest renters insurance in Alabama.
Cons
- High Deductibles: Some renters' insurance policies may have higher deductibles than competitors.
- Pricing Variability: Premiums for renters insurance vary based on location in Alabama.
#7 – State Farm: Best and Cheapest for Local Agents
Pros
- Customizable Policies: Allows renters to customize coverage depending on what they need.
- Discounts for Safe Practices: Offers savings on renters insurance for using security systems and smoke detectors.
- Many Local Agents: Our State Farm review underlines the large number of local agents it has for assisting people in finding the best and cheapest renters insurance in Alabama.
Cons
- Limited Online Services: It may lack advanced digital management tools for renters insurance policies.
- Higher Premiums for Comprehensive Plans: Customization can increase the overall cost of renters insurance.
#8 – Progressive: Best and Cheapest for Tight Budget
Pros
- Excellent for Tight Budget: As mentioned in our Progressive review, it offers affordable renters insurance even for those with limited budgets in Alabama.
- Easy Online Quote System: Simplifies getting the best and cheapest renters insurance in Alabama.
- Flexible Coverage Options: Allows renters to adjust policies as needed.
Cons
- Third-Party Underwriting: Partner companies often manage renters insurance policies for Progressive.
- Limited In-Person Support: Primarily operates through online or phone services, which may limit accessibility for renters who want personal support.
#9 – Farmers: Best and Cheapest for Many Discounts
Pros
- Policy Customization: Allows renters to adapt coverage for valuables or special needs.
- Many Discounts: Our Farmers review spotlights rewarding renters with savings for bundling, safe homes, or claims-free history.
- Mobile App: Offers efficient claims tracking and policy management for the best and cheapest renters insurance in Alabama.
Cons
- High Premiums for Add-Ons: Extra coverage can make it less affordable for renters on a budget.
- Not Always Available: Renters insurance overage may not extend to rural areas of Alabama.
#10 – Liberty Mutual: Best and Cheapest for Customizable Coverage
Pros
- Newly Renovated Home Discounts: It offers renters savings for updated rental properties.
- Customizable Coverage: Tailored options make it a top pick for the best and cheapest renters insurance in Alabama. Our Liberty Mutual review gives an in-depth analysis of the topic.
- Quick Online Claims: It streamlines the insurance claims process for renters.
Cons
- Higher Base Premiums: Starting rates for renters insurance may be higher than those of some competitors.
- Limited Local Support: There are fewer in-person agent locations to support renters in Alabama.
Alabama Cheap Renters Insurance Rates Comparison
The monthly rates of the best and cheapest renters insurance in Alabama significantly vary by provider. The table below gives further insights into the minimum and full coverage premiums per month.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
|
$38 | $107 |
|
$37 | $105 |
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$48 | $133 |
|
$32 | $89 |
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$58 | $162 |
|
$34 | $96 |
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$40 | $112 |
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$39 | $108 |
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$28 | $79 |
|
$20 | $56 |
The lowest price starts at $20 with Allstate and goes up to $58, offered by Liberty Mutual, for minimum coverage. On the other hand, full coverage begins at $56 to $162, respectively, with the same companies.
| Category | Grade | Explanation |
|---|---|---|
| Average Monthly Premium | A | Among the lowest in the Southeast |
| Affordability | A- | Competitive rates across urban and rural areas |
| Coverage Options | B+ | Standard options with some limitations |
| Claim Satisfaction | B | Moderate customer satisfaction with claims |
| Availability of Discounts | B- | Fewer discounts compared to neighboring states |
| Customer Support | C+ | Service response times vary significantly |
In Alabama, there are numerous major insurance companies available, offering affordable rates for their coverage options with some discounts. However, there is room for improvement regarding their customer service.
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Auburn | 450 | 380 |
| Birmingham | 1,200 | 950 |
| Decatur | 400 | 330 |
| Dothan | 300 | 250 |
| Florence | 350 | 290 |
| Gadsden | 500 | 420 |
| Huntsville | 800 | 700 |
| Mobile | 900 | 750 |
| Montgomery | 1,100 | 890 |
| Tuscaloosa | 600 | 520 |
The accidents and claims per year in Alabama vary by city. For example, Dothan and Florence city record up to 300 and 350 accidents with 250 and 290 claims annually, respectively. On the other hand, over 1,000 accidents with 890 claims occur in Montgomery.
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Theft | 35% | $3500 |
| Water Damage | 25% | $4200 |
| Fire Damage | 20% | $10000 |
| Liability Claims | 15% | $6000 |
| Vandalism | 5% | $2000 |
The most common types of insurance claims in Alabama are theft, water damage, fire damage, liability claims, and vandalism. Cost per claim varies depending on the severity, ranging from $2,000 for vandalism claims to $10,000 for fire damage.
Read More: Renters Insurance Guide
Best and Cheapest Renters Insurance Discounts in Alabama
The Best and Cheapest Renters Insurance Discounts in Alabama provide savings opportunities for renters. Many providers offer discounts for bundling policies with other options, maintaining a claims-free record, or having safety features like smoke detectors.
These discounts help renters secure affordable coverage while meeting their specific needs. The table below displays the discounts that providers offer.
| Insurance Company | Available Discount |
|---|---|
|
Multi-policy discount (bundling auto & renters), Safe driving, Anti-theft device, Automatic payments, Good student, New car, Early signing |
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Multi-policy, Safe driver, Good student, Defensive driving course, Loyalty, Auto pay, Low mileage |
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Multi-policy, Safe driver, Good student, Anti-theft, Signal (app usage discount), Pay-in-full, Auto pay |
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Multi-policy, Good driver, Defensive driving, Good student, Military, Emergency deployment, Vehicle equipment (airbags, anti-lock brakes) |
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Multi-policy, Safe driver, Good student, Early shopper, Anti-theft, Violation-free, Pay-in-full, Auto pay |
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Multi-policy, Good student, Defensive driving, Accident-free, Automatic payments, Anti-theft device, Paperless billing |
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Multi-policy, Safe driver, Continuous insurance, Snapshot (usage-based discount), Good student, Homeowner discount |
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Multi-policy, Safe driver, Good student, Defensive driving, Accident-free, Vehicle safety features (airbags, anti-lock brakes) |
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Multi-policy, Safe driver, Good student, Hybrid/electric car, Homeowner discount, Safe car, Continuous insurance |
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Multi-policy, Safe driver, Good student, Defensive driving, Loyalty discount, Automatic payments, Military discount |
Although many providers offer discounts like multi-policy discounts, each of them has their own unique discounts. The Alabama report card shows what type of discounts give the most savings and what companies are offering them.
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Multi-Policy | A | 20% | State Farm, Allstate, Farmers |
| Protective Devices | A- | 15% | Nationwide, Progressive, Geico |
| Claim-Free | B+ | 10% | Liberty Mutual, Travelers, State Farm |
| Pay-in-Full | B | 5% | Allstate, Geico, Farmers |
| Good Credit | B- | 7% | Progressive, Nationwide, USAA |
| Paperless Billing | C+ | 3% | American Family, State Farm |
Multi-policy discounts offer the most savings for renters insurance; State Farm, Allstate, and Farmers participate in this type of discount, while USAA, Progressive, and Nationwide give good credit discounts. Recognizing the discounts offered by providers is crucial when choosing the right insurance. Review them and get the best insurance for you.
Top Providers of the Best and Cheapest Renters Insurance in Alabama
USAA, Travelers, and Geico Provide the best and cheapest renters insurance in Alabama. USAA specializes in providing exclusive military discounts for families with service history at just $20 per month.
Travelers offers comprehensive coverage for renters looking for more robust protection. On the other hand, Geico focuses on giving affordable rates for people with limited budgets.
Renters insurance offers protection when renting a space; it includes property damage liability insurance, theft, water damage, fire damage, and more. Therefore, knowing what renters insurance does not cover is also crucial when buying insurance from providers.
Finding the right insurance is a tedious task, but our free comparison tool simplifies the hassle of looking for cheap insurance by entering your zip code below.
Frequently Asked Questions
What is the cheapest renters insurance in Alabama?
The best and cheapest renters insurance in Alabama depends on factors like location, coverage needs, and provider. Companies like USAA, Travelers, and Geico often offer the most competitive rates.
How much do most people pay for renters insurance?
Most people pay between $20 and $58 monthly for renters insurance, depending on their coverage and location. Enter your zip code below to see the rates of multiple providers for renters insurance near you.
What is the deductible for renters insurance?
The deductible for renters insurance typically ranges from $250 to $1,000, depending on the policy you select.
Does renters insurance cover theft?
Yes, renters insurance usually covers theft of personal belongings, whether it occurs at home or away.
How much is renters insurance in Huntsville, Alabama?
Renters insurance in Huntsville, Alabama, typically costs around $15 to $20 per month, varying by provider and coverage.
How much is $300,000 in renters insurance?
Renters insurance policies with $300,000 in property damage liability coverage cost around $20 to $40 per month on average.
Does renters insurance cover pets?
Renters insurance may cover liability for pet-related incidents, but it does not usually cover damage caused by pets.
Why do you need renters insurance?
Renters insurance protects your belongings, provides liability coverage, and ensures peace of mind in case of unexpected events. Renters insurance is import, enter your zip code below into our free quote tool to find the best deals.
Is renters insurance required in Alabama?
No, renters insurance is not legally required in Alabama. However, many landlords include it as a mandatory condition in lease agreements to protect their property and tenants.
Read more: Why Do Landlords Require Renters Insurance?
Is Alabama a tenant-friendly state?
Alabama is generally considered landlord-friendly, with laws that often favor property owners.