Compare Renters Insurance Rates

Easily compare renters insurance quotes to find the best deal.

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by Jessie Jordan,
Reviewed by Robbie Boddy

If you’re renting a house or apartment, you will probably want to protect your belongings from any number of perils, like smoke and water damage or even theft. While your landlord’s insurance policy is designed to cover the dwelling itself, it isn’t intended to cover your family’s personal items. This leaves things like furniture, electronics, and clothes unprotected.

To protect yourself and the “stuff” in your home, you may want to purchase a renters insurance policy (some landlords will even require it). These policies are intended to provide coverage for your items inside the home, protect belongings from loss outside the home, and even pay expenses related to displacement.

How to compare renters insurance quotes

As with any insurance product, it’s always wise to shop around before making a purchase. That way, you can find a competitively-priced policy that still provides the coverage your family needs most.

One of the best ways to compare renters insurance quotes is to use a comparison website. These sites are designed to offer you multiple quotes at one time, ideally saving you time and energy in your search.

Just be careful where you shop. Many of these renters insurance quote comparison websites are designed to simply collect your information. It is then passed along (or even sold) to third-party companies and brokers, while you’re left at a dead-end in your search.

Thankfully, though, there’s Gabi.

Gabi is a different kind of comparison website. We compare various renters insurance quotes for you, allowing you to shop around for the best price possible and easily obtain coverage.

Best of all, we will never sell your information! Instead, our business model is designed around securing the ideal insurance policy for you. That means finding you the best price, contacting that insurance company, and facilitating the setup of your new policy.

Gabi isn’t just simple to use when shopping around for renters insurance coverage — we’ll also work hard to save you the most money. In fact, the average Gabi customer saves $961 a year by switching insurance companies through Gabi.

Oh, and did we mention that Gabi is licensed in all 50 states? We can help you save no matter where you live!

Lastly, Gabi is more than just a website. Have a question, or simply want to speak to a real person during the insurance search process? We’re here for you.

You can call us, text us, or send an email any time. And of course, you can always just use our mobile app or website from start to finish, if you prefer to go that route.

Comparing renters insurance rates to save money

Whether you’re looking for your first renters insurance policy or already have one, Gabi makes it easy to bundle your renters coverage with your auto insurance policy. This allows you to compare multiple providers and policy options at once, while also seeing how much you could save by bundling both policies together.

You can easily and securely link your current insurance policy on the Gabi platform. This allows us to analyze your existing coverage and see where you might be able to save. If Gabi can get you a better deal, we’ll let you know within a few minutes after looking around for a better rate (with equal coverage).

And if you already have the best deal around? We’ll let you know that, too, so you can rest easy.

For many customers, a good way to save money is to bundle renters insurance with auto insurance from the same provider. Not only can you use Gabi’s comparison platform to find the most affordable policies for your coverage preferences, but many insurers will also offer special discounts on subsequent policies that you purchase.

What impacts your renters insurance rates?

There are quite a few factors that go into calculating the cost of renters insurance. While shopping around for the right provider is important, you’ll find that your renters insurance rates are impacted by things such as:

Your coverage limits: How much coverage you choose plays a big role in determining your rates. The more “stuff” your insurer covers, the more you’ll be expected to pay each month.
Your deductible: Often, you can lower your monthly premiums by raising your deductible (the amount you’ll be asked to cover when filing a claim). Just be sure to set your deductible at a limit you can reasonably cover if it’s ever needed!
Your location: You’ll find that renters insurance rates vary from state-to-state, city-to-city, and even from one ZIP code to the next. Moving a couple blocks away can impact how much you pay, even if your coverage doesn’t change!
Your coverage add-ons: If you have high-dollar items, you may want to purchase additional coverage in the form of a rider. This can better protect you against loss when it comes to things like expensive jewelry.
Your credit: Yes, in many states your credit score can play a role in how much you’ll pay for insurance policies, including renters insurance coverage. While insurance companies cannot deny you coverage based on your credit, they can use it as one factor when calculating your premiums.

Any insurance company you consider will probably take all of these factors into account when offering you a quote. However, you may find that each company will weigh the importance of these factors differently. That’s why it’s essential to both shop around for the right policy for you, as well as compare insurance providers to find the best price on that level of coverage.

5 ways to lower your renters insurance rates

As we already mentioned, you may be using Gabi to find coverage for the first time. Or, you might be using Gabi to evaluate your current renters insurance policy to see if you’re getting a good price (or are overpaying).

Regardless of which boat you’re in, there are a few ways that you may be able to lower your renters insurance rates across the board. Here are a few of our favorites:

Bundle your coverage. Many insurance providers will offer discounts to customers who hold more than one policy with them. You may find the best price by bundling your renters insurance with policies like your auto or life insurance, getting both from the same provider.
Raise your deductible. You’ll often find that lower premiums are offered to customers who are willing to raise their deductible. Yes, this puts a bigger financial burden on you if and when you ever need to call on your policy, but the savings over time could be well worth the trade-off (especially if you never file a claim). Just be sure that you don’t choose a deductible higher than what you can reasonably cover.
Ask about discounts. Many insurance companies offer discounts to certain groups or organizations. If you’re a teacher, public servant, active duty military, belong to a certain credit union, or are a member of select alumni associations, you may be eligible for special pricing. Additionally, you may be able to shave off a few dollars each month by enrolling in auto-pay or paperless statements.
Improve your credit. While your credit isn’t the biggest factor in determining your renters insurance rates, it plays a role in most states. By improving your score over time, you may open the door to extra savings.
Comparison shop often. Taking the “set it and forget it” approach to an insurance policy might be the easiest, but it isn’t likely to save you the most money in the long run. Instead, be sure to shop around once or twice a year — you might be surprised by what you find.

By shopping around with Gabi, you’re able to see new policy options and even compare your current rates with other competitive offers. We’re happy to help you shop around, whether you’re already getting the best deal or if we can save you money right away.

Renters Insurance FAQs

How much renters insurance do I need?

The two factors to consider for renters insurance are personal property and liability coverage. You’ll want enough personal property coverage to help you replace your belongings in case of a total loss. Many companies will start personal property coverage at $10,000 and go up to $250,000. With liability insurance, your landlord or property management company will likely have a requested minimum amount for you to carry- if not, think of what you would need to protect in assets in case of a lawsuit.

What does renters insurance cover?

Renters insurance will cover personal property damage up to the limit. Loss of use coverage will cover the extra cost associated with having to live somewhere else in case you can’t use your home. Liability coverage will protect you against any lawsuits that may occur-say somebody falls in your apartment and sues you. Medical payments will help cover costs if somebody is injured in your home.

What happens if you don't have renters insurance?

Technically you don’t have to have renters insurance, although your landlord or property management might require you to have it. Therefore ditching your policy or opting not to get one could impact your tenant’s status. Beyond those kinds of repercussions, in the event of an accident or catastrophe, you would not be able to recoup your personal property losses or be protected in the event of a lawsuit.

What type of water damage is covered by renters insurance?

Generally speaking, most renters insurance policies will cover sudden damage from water overflow and discharge. By that same token, most renters insurance policies might not cover flooding or sewage issues but both of those can be covered by adding on additional coverage to your policy.

Editorial content on Gabi.com is reviewed by a licensed insurance agent. It is intended for informational purposes only and should not be considered legal or financial advice.

Written by

Jessie is a Marketing Specialist at Gabi. As a licensed insurance agent, she has been helping Gabi customers buy and understand auto, home, renters, landlord, and umbrella insurance in a digestible way since she joined the Gabi team in 2020. Before joining Gabi she was a globally recognized Senior Account Executive for UPS- trusted with advising top brands on how to grow and streamline their business.

Reviewed by

Robbie is the Vice President, Head of Sales & Customer Experience at Gabi. As a licensed insurance agent, he has more than 15 years of experience in the insurance industry, joining Gabi after working with Liberty Mutual as the Assistant Vice President and Site Leader, Direct Sales and Innovation. Robbie is a member of the Chartered Property and Casualty Underwriters society and has a Master of Business Administration (MBA) from Grand Canyon University.

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