Best and Cheapest Renters Insurance in New York for 2025 (10 Most Affordable Companies)

.

The best and cheapest renters insurance in New York are Geico, USAA, and Allstate, with Geico offering the lowest rates at just $15 per month, USAA providing top benefits for military families, and Allstate standing out for flexible coverage options.

.

Renters in New York can save even more by taking advantage of bundling discounts, claim-free savings, and auto-pay reductions, with State Farm offering the highest bundling discount at 20% and Farmers providing a 25% claim-free discount.

Company	Rank	A.M. Best	Monthly Rate	Best For	Jump to Pros/Cons
	#1	A++	$15	Affordable Rates	Geico
	#2	A++	$16	Military Benefits	USAA
	#3	A+	$18	Flexible Coverage	Allstate
	#4	A++	$19	Customer Satisfaction	Progressive
	#5	A	$20	Loyalty Rewards	State Farm
	#6	A+	$22	Comprehensive Options	American Family
	#7	A+	$25	Strong Bundling	Farmers
	#8	A	$27	Personalized Policies	Travelers
	#9	A++	$28	Multi-Policy Savings	Nationwide
	#10	A	$30	Customizable Discounts	Nationwide

Coverage options vary by provider, with most policies including personal property, liability protection, and additional living expenses, but only select companies, like American Family and Liberty Mutual, offering identity theft protection.

To find the best coverage at the lowest price, compare quotes and look for discounts that fit your needs. Use our free quote comparison tool to find the cheapest coverage in your area.

What You Should Know

• Get the best and cheapest renters insurance in New York starting at $15 a month
• Geico offers the lowest rates, plus discounts for bundling and a strong A++ rating
• USAA is best for military families, while Allstate provides flexible coverage options

#1 – Geico: Top Overall Pick

Pros

• Lowest Renters Insurance Rate: Starts at $15/month, making it one of the most affordable options in New York for basic renters coverage.
• Discount Leader: As per our Geico review, it offers multi-policy, home safety, and claims-free discounts, helping renters save by up to 25% in New York.
• Excellent Reputation: Holds an A++ financial strength rating from A.M. Best, ensuring policyholders can rely on financial stability in New York.

Cons

• Limited Customization: Offers fewer optional coverages, such as identity theft protection or extended personal property coverage in NY.
• No Local Agents: Unlike State Farm or Farmers, Geico’s renters insurance is managed entirely online, limiting in-person service options in New York.

#2 – USAA: Best for Military Benefits

Pros

• Military Exclusive: Coverage is only available to active-duty military, veterans, and eligible family members in New York
• Flood & Earthquake Protection: Includes coverage for flood and earthquake damage at no extra cost, unlike most policies in New York. Read our USAA review for a full list.
• Exceptional Customer Service: Known for quick claims processing and received 4.9/5 customer satisfaction rating from J.D. Power surveys focused on military families renting in NY.

Cons

• Not Open to the General Public: USAA renters insurance in NY is restricted to military personnel and their families.
• Fewer Customization Options: Renters in New York won’t find as many optional endorsements for valuables or extended liability coverage.

#3 – Allstate: Best for Comprehensive Options

Pros

• Highly Adjustable Policies: Renters can tscheduled personal property coverage, identity theft restoration, and increased liability limits up to $1 million in New York.
• Discounts for Safe Homes: Save up to 20% by installing smoke detectors, security systems, or deadbolts can help reduce premiums in New York. Discover details in our Allstate review.
• Convenient Online and Local Agent Support: Customers can get help via the app, web portal, or hundreds of local New York agents.

Cons

• Higher Monthly Rates Than Some Competitors: Average premium is around $18/month, which is $3–$10 more than low-cost providers like Geico or USAA for NY renters.
• Mixed Claims Experience: Some policyholders report delays over 2 weeks for non-emergency property claims in New York.

#4 – Progressive: Best for Flexible Coverage

Pros

• Flexible Policies: Allows customizable renters insurance add-ons like water backup, electronics replacement, and pet liability coverage in NY. Read our review of Progressive for full details.
• User-Friendly: Instant quotes, easy claims submission, and policy updates via a top-rated app (4.7/5 in the App Store) for renters insurance in New York.
• Great Bundling Discounts: Savings available up to 20% when combining renters insurance in New York with other policies.

Cons

• Basic Coverage: Standard renters insurance in New York may lacks coverage for identity theft or valuable item replacement unless specifically added.
• Higher Standalone Rates: More expensive renters insurance in New York if not bundled at $19 per month.

#5 – State Farm: Best for Customer Satisfaction

Pros

• Trusted Provider: Rated #1 in customer satisfaction in the 2024 J.D. Power Renters Insurance Study in New York with strong customer satisfaction. Read our State Farm review for more.
• Local Agents: Over 100+ agents throughout New York, offering personalized in-person assistance.
• Fast Claims Processing: 80% of standard claims resolved within 10 days, faster than most competitors for renters insurance in New York policyholders.

Cons

• Higher Rates: With a starting rate of $20 per month, which is 33% higher than Geico’s basic policy in New York.
• Fewer Discounts: Limited savings options than Progressive or Allstate for renters insurance in New York.

#6 – American Family: Best for Loyalty Rewards

Pros

• Loyalty Rewards: Renters who stay insured for 12+ months qualify for premium discounts up to 15% in New York.
• Strong Bundling Options: Combine with auto or life insurance for additional 10–20% savings for renters insurance in New York.
• Personalized Service: Offers MyAmFam app for digital access, and licensed agents in New York for policy consultations. Explore our American Family review.

Cons

• Higher Starting Price: Starting at $22 per month, renters insurance in New York costs more than competitors.
• Limited Availability: Not all NY ZIP codes are eligible—check local availability before applying.

#7 – Farmers: Best for Personalized Policies

Pros

• Customizable Plans: Includes optional endorsements like identity theft, business property, and valuable item of NY coverage. Find more in our Farmers review.
• Local Agent Support: Available through in-person offices throughout NY.
• Additional Living Expense Coverage: Coverage includes hotel, meals, and pet boarding costs during a claim-related displacement in New York.

Cons

• Pricier Than Most Alternatives: At $25 per month, over 60% more than Geico or USAA in New York.
• Limited Discounts: Fewer incentive programs beyond bundling and claims-free status for renters insurance in New York.

#8 – Travelers: Best for Multi-Policy Savings

Pros

• Best for Multi-Policy Savings: Save up to 23% when combining auto, renters, or umbrella insurance in New York.
• High-Value Coverage: Option to schedule high-end electronics, jewelry, and collectibles up to $50,000 in NY. Find the full list in our Travelers review.
• Top Financial Strength: Holds an A++ rating from A.M. Best, indicating exceptional stability for renters insurance in NY.

Cons

• Costlier Than Average: Travelers renters insurance starts at $27 per month, higher than most competitors in New York.
• Fewer Local Agents: Many services are digital-only, reducing in-person help options for renters insurance in New York.

#9 – Nationwide: Best for Strong Bundling

Pros

• Great for Bundling: Bundle with auto, pet, or life insurance for savings of up to 25% in New York.
• Extra Protection: Includes optional theft extension for property stolen outside your home and water backup coverage in New York.
• Financial Stability: A.M. Best gives Nationwide an A+ financial rating in New York. Learn more in our Nationwide review.

Cons

• Higher Rates: With rates starting at $28 per month, Nationwide is among the pricier options in NY.
• Less User-Friendly: Some customers in New York report delays during online quoting and clunky app interface.

#10 – Liberty Mutual: Best for Customizable Discounts

Pros

• Custom Discounts: Offers discounts for new renters, claim-free history, and protective devices—stackable up to 30% in New York. See our Liberty Mutual review for more.
• Worldwide Coverage: Belongings are protected anywhere in the world, ideal for frequent travelers in New York.
• 24/7 Claims Assistance: Renters insurance in New York can file and manage claims at any time via phone or the Liberty Mutual app.

Cons

• Expensive Rates: At $30 per month, Liberty Mutual is the highest-priced standard renters insurance provider in NY.
• Limited Discount Availability: Some discounts are only available in select ZIP codes or require bundled policies in New York providers.

Best New York Renters Insurance Rates

If you’re looking for the cheapest renters insurance in New York, Geico offers the lowest prices, starting at just $13 per month with a $1,000 deductible. USAA is another low-cost option at $14 per month, but it’s only available to military members, veterans, and their families. On the other hand, Liberty Mutual is the most expensive, with monthly prices starting at $26.

The average cost of renters insurance in New York is about $146 per year, or between $12 and $20 per month. What you pay will depend on where you live, how much coverage you need, which company you choose, and the deductible amount you select. Renters in big cities like New York City often pay more than those in smaller towns. You’ll also pay less each month if you pick a higher deductible, but that means you’ll pay more out of pocket if you file a claim.

Below, you’ll find a table shows how monthly rates change based on your deductible—that’s the amount you pay if something happens and you need to use your insurance. Choosing a higher deductible usually lowers your monthly cost:

Insurance Company	$500 Deductible	$1,000 Deductible	$2,000 Deductible
	$13	$11	$9
	$22	$19	$16
	$25	$21	$18
	$15	$13	$11
	$30	$26	$22
	$28	$24	$20
	$19	$16	$14
	$20	$17	$14
	$27	$23	$19
	$16	$14	$12

Your monthly cost also depends on how much personal property coverage you want. That means how much your stuff—like clothes, furniture, electronics—is worth and what your policy will pay to replace it. The more coverage you choose, the higher your monthly rate will be. See the best renters insurance companies and rates in NYC, for full details.

The next table compares monthly prices based on how much personal property coverage you select—$15,000, $30,000, or $50,000:

Insurance Company	$15K Personal Property Coverage	$30K Personal Property Coverage	$50K Personal Property Coverage
	$14	$17	$20
	$13	$16	$19
	$20	$24	$28
	$13	$15	$18
	$15	$18	$22
	$12	$15	$18
	$16	$19	$23
	$10	$12	$14
	$13	$15	$17
	$11	$13	$16

In short, Geico and USAA offer the best prices for most renters, no matter how much coverage you need or which deductible you choose. If you want more choices or local help, companies like Allstate, State Farm, and Nationwide also offer good value and strong customer service. The best way to find the right policy is to compare quotes from several companies and pick the one that fits your budget and needs.

Coverage Options Offered by Renters Insurance for New York

Renters in New York have access to a variety of renters insurance coverage options, which can vary by provider. Most policies include essential protections like personal property and liability coverage, but not all insurers offer extras like replacement cost or identity theft protection. Here's a breakdown of common coverage types:

• Personal Property Coverage: Reimburses you for personal belongings (like furniture, clothing, or electronics) if they’re damaged, destroyed, or stolen due to a covered event such as fire, theft, or vandalism.

• Additional Living Expenses (ALE) Coverage: Pays for temporary housing and other increased living costs if your rental becomes uninhabitable due to a covered loss (e.g., fire or water damage).

• Medical Payments to Others: Covers medical bills for guests who are injured in your rental property, regardless of who’s at fault.

• Replacement Cost Coverage: Reimburses you for the full cost to replace damaged or stolen items with new ones, without deducting for depreciation.

• Identity Theft Protection: Offers support services and financial protection if your identity is stolen, including help with credit monitoring, legal fees, and restoring your identity.

If you’re renting an apartment, dorm, or house, it's important to compare coverage options to ensure your policy provides adequate protection for your belongings and liability needs. The table below highlights key coverage options from major renters insurance providers in New York.

Insurance Company	Personal Property	Additional Living Expenses	Medical Payments to Others	Replacement Cost	Identity Theft
	✅	✅	✅	❌	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	❌	✅
	✅	✅	✅	✅	✅

Most companies, including Geico, State Farm, and USAA, offer comprehensive coverage, while others, such as Allstate and Travelers, lack replacement cost coverage. If you’re looking for a policy that includes identity theft protection, providers like American Family, Liberty Mutual, and Nationwide may be the best choices. Reviewing coverage details before purchasing a policy ensures that you’re getting the best balance of affordability and protection.

Read More: Renters Insurance Guide

How to Save Money on Your Renters Insurance in New York

If you're looking to cut costs on renters insurance in New York, taking advantage of bundling and claim-free discounts can make a big difference.

The table below shows that State Farm offers the highest bundling discount at 20%, meaning you can save the most by combining renters and auto insurance. Geico (18%) and Progressive (16%) also offer solid savings for bundling.

Insurance Company	Bundling	Claim-Free	Early Payment	Automatic Payment	Family/Spouse
	15%	20%	13%	7%	2%
	10%	22%	13%	7%	5%
	12%	25%	13%	7%	3%
	18%	15%	13%	7%	4%
	14%	20%	13%	7%	5%
	11%	18%	13%	7%	3%
	16%	21%	13%	7%	7%
	20%	24%	10%	6%	3%
	13%	16%	13%	7%	5%
	10%	23%	13%	7%	2%

If you’ve never filed a claim, Farmers gives the biggest claim-free discount at 25%, followed by State Farm (24%) and USAA (23%). Staying claim-free for a few years can lead to major savings on your premium.

Other easy ways to save include paying your policy early or setting up automatic payments—both can lower your bill by up to 13% and 7%, depending on the provider. If you share a household with a spouse or family member, Progressive gives the highest family discount at 7%, while American Family, Liberty Mutual, and Travelers offer 5%. By combining multiple discounts offer, you can lock the most savings for renters insurance in New York.

By using these discounts , you can lower your renters insurance cost and keep more money in your pocket while still protecting your belongings.

Getting Renters Insurance in New York

Many people aren’t sure what renters insurance actually covers, so it’s important to understand your policy before signing up. Most renters insurance plans include liability protection, which helps cover medical or legal costs if someone gets hurt in your rental.

Another key benefit is additional living expenses coverage, which helps pay for hotel stays and other costs if your apartment becomes unlivable due to a covered event, like a fire or flood.

To make the best choice, compare policies from top renters insurance companies in New York and review what’s included. If you want to learn more about coverage options, discounts, and how to find the best deal, check out our practical guide for understanding renters insurance for more details.

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.