The Best and Cheapest Renters Insurance Companies in Idaho for 2023: Rankings, Reviews and Rates

CheapRenters InsuranceIdaho.

2023.

The Cheapest Renters Insurance in Idaho

– Nationwide.

– Nationwide.

Renters Insurance in Idaho: What You Need to Know

Renters insurance is a cost-effective way to protect your assets in case of property damage, theft, or loss of valuable items.

The cost of a standard renters insurance policy in Idaho, which includes $20,000 in personal property coverage, $100,000 in liability coverage, and a $500 deductible, amounts to 0.92% of the average rent price. On average, this policy costs $8 per month. In Idaho, renters pay an average monthly rent of $880, and renters make up 26.3% of the population.

What Renters Insurance Typically Covers in Idaho

To determine the top renters insurance in Idaho, it is important to comprehend the coverage provided and excluded. The majority of plans in the state offer payment for medical and liability expenses, as well as additional coverage for living expenses, personal property, and other property.

Coverage for personal belongings will safeguard your possessions from harm caused by natural calamities such as forest fires and gales.

What Renters Insurance Typically Does Not Cover in Idaho

When filing a claim, this action can assist in preventing complications. Inquire with your agent if any inquiries arise. Hence, it is crucial to carefully scrutinize the details as not all policies are identical.

If you encounter an emergency situation, having renters insurance in Idaho can assist you, as some policies may not adequately cover all of your needs.

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If you need more information about renters insurance requirements, general inquiries, and protections, you can reach out to these channels to get the information you want. In addition, you can obtain useful resources from the Department of Insurance in Idaho if you need more information about renters insurance in Idaho.

  • Postal Address: 700 W. State St., 3rd Level, P.O. Box 83720, Boise, ID 83720-0043.
  • Customer support hotline: 208-334-4250.
  • Contact Form: https://doi.Idaho.Gov/contact-doi/?Id=1.
  • Fax: 208-334-4398.
  • Auto Insurance..

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    Largest Renters Insurance Companies in Idaho

    When choosing the best renters insurance in Idaho, it is important to consider the share market of insurance companies that have a large customer base, as they tend to be more financially stable and provide better service to policyholders in handling claims and customer experience.

    Company

    Market Share

    1.

    State Farm

    14.8%

    2.

    Liberty Mutual

    14.5%

    3.

    Farmers

    10.5%

    4.

    Farm Bureau of ID Group

    9.7%

    5.

    USAA

    8.1%

    6.

    Allstate

    8.1%

    7.

    American Family

    4.2%

    8.

    Travelers

    4.2%

    9.

    United Heritage Insurance

    3.3%

    10.

    Auto-Owners Insurance Co

    2.8%

    Average Cost of Renters Insurance in Idaho

    Renters insurance is equivalent to the mean.

    The average cost of renters insurance in Idaho is $97 per year, 39% cheaper than the national average of $159 per year.

    In Idaho, the cost of renters insurance can vary depending on factors such as the level of personal property coverage required to estimate how much you will pay for renters insurance.

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    To save on rental insurance expenses in Idaho, it is advisable to compare insurance quotes from various providers and explore different options. For instance, MetLife offers a 46% lower rate compared to State Farm, which happens to be the priciest choice at $135 annually, with potential savings of up to $62.

    What Factors Impact Renters Insurance Cost in Idaho

    When evaluating renters insurance policies, it is important to remember that factors such as the level of coverage and the place of residency can include these. When calculating premiums for renters insurance in Idaho, companies evaluate several factors.

    Cheap Renters Insurance Companies in Idaho

    When selecting a policy, numerous inhabitants prioritize discovering the top affordable renters insurance in Idaho. The price of renters insurance is a significant factor for consumers.

    MetLife has ranked first in terms of affordability, with an average annual premium of $73 or $6 per month. Coming in second place is Nationwide, which offers renters insurance to policyholders with an average yearly premium of $80 or $7 a month.

    MoneyGeek evaluated different quotes from various ZIP Codes in Idaho based on a policy with a coverage deductible of $500 and coverage liability of $100,000 for personal property and $20,000.

    Coverage for Personal Property:

    Keep scrolling for additional content.

    MoneyGeek utilizes a comprehensive ranking system to identify the best providers in Idaho, incorporating stability ratings, financial satisfaction scores from J.D. Power, and our own service quality and affordability scores.

    FAQs About Renters Insurance in Idaho

    MoneyGeek provides answers to some of the most frequently asked questions about renters insurance in Idaho to assist you in finding the best option for your needs.

    Best Renters Insurance Companies in Idaho

    USAA is the only military-affiliated insurer available to people. However, they have a similar score of 100 out of 100 on MoneyGeek. Nationwide and USAA are the top renters insurance companies in Idaho.

    MoneyGeek ranks the best companies using a comprehensive scoring system that incorporates customer satisfaction, financial stability scores, and affordability ratings from J.D. Power.

    To ensure a superior user experience and reliable coverage, it is essential to take into account various factors, including the cost. This aspect holds significance as the companies providing renters insurance in Idaho offer the optimal combination of affordability and high-quality service, which may not necessarily be the most inexpensive option.

    Geek Rapid Overview.

    Idaho is ranked second among insurance companies in terms of financial stability and affordability for renters. It receives high customer satisfaction scores. Nationwide offers optional coverages and an extension that includes theft protection for policyholders.

    Additional Information Regarding Nationwide.

    Idaho, along with the other 44 states, is covered by Nationwide. Nationwide offers coverage extensions that protect personal property stored in watercraft or cars, providing unique coverages such as theft coverage. Additionally, policyholders can choose to opt for scheduled personal property coverage to protect high-value items like antiques and jewelry. This option sets Nationwide apart, offering affordability as well.

    This provider offers four different types of discounts, including discounts for protective devices installed in your home, giving you a seamless user experience on their mobile app, website, and other platforms.

    Check out MoneyGeek’s comprehensive review of Nationwide renters insurance.

    Geek Rapid Overview.

    USAA is one of the best insurance companies in Idaho for renters. It has earned the highest scores in financial stability and customer satisfaction. USAA also scores highly in affordability. It offers unique coverage options like identity theft coverage and caters specifically to renters with a military background.

    Additional Information Regarding USAA.

    If you have a military background, USAA is one of the best insurance companies in Idaho for renters. USAA offers comprehensive coverage, including flood and earthquake damage coverage, and it is available in all states.

    Within a few minutes, you can also obtain online quotes for renters insurance. By utilizing the mobile application or the official website of the company, policyholders can conveniently access their accounts. Additionally, to safeguard yourself from identity fraud, you also have the option to choose identity theft coverage.

    Check out MoneyGeek’s review of USAA renters insurance.

    Geek Rapid Overview.

    American Family is available in 19 states, including Idaho. Policyholders can customize their renters insurance policy with optional coverages such as scheduled coverage. It offers financial stability and affordability, making it well-suited for affordability.

    Additional Information Regarding the American Family.

    If you wish to insure valuable possessions such as jewelry, you have the option to include scheduled property coverage in your American Family policy. Additionally, for protection in the event that your pet causes harm to someone on your premises, you can choose to have pet damage liability coverage. American Family offers seven types of discounts, including loyalty and autopay discounts. They also provide convenient online and mobile app tools for managing your account.

    Check out MoneyGeek’s review on American Family renters insurance.

    Geek Rapid Overview.

    Farmers offers various optional coverage benefits, including personal property replacement coverage and coverage for 42 states. This provider also ensures financial stability and customer satisfaction in terms of affordability.

    More Information Regarding Farmers.

    Take control of your account by utilizing the Farmers mobile application and obtain a customized estimate through the internet. Non-smokers can benefit from smoke-free discounts, while certain professions like doctors may qualify for occupation discounts, with Farmers offering up to seven different types of discounts. Furthermore, coverage is available for antiques, jewelry, identity theft, and valuable possessions within your household. In the event of loss or damage, the personal property replacement cost coverage enables you to replace outdated items with newer alternatives. This coverage option can be chosen when selecting a Farmers policy.

    Check out MoneyGeek’s review of Farmers renters Insurance.

    Geek Rapid Overview.

    Farm State ranks second in customer satisfaction in Idaho, while also leading in financial stability. Farm State offers comprehensive insurance coverage options, including optional personal injury coverage, for all renters. These options are available in all states.

    Additional Information Regarding State Farm.

    The business owner can also take out a bundled general liability and property insurance policy from State Farm, which offers additional coverage for business property and earthquake protection. Policyholders can also add identity fraud protection coverage to safeguard against fraudulent activities. Moreover, in your State Farm renters policy, you have the option to include personal injury liability coverage to protect yourself from personal claims.

    You can manage and file claims online, and you can get personalized quotes. They also have a mobile app. State Farm ensures a seamless user experience for policyholders.

    Check out MoneyGeek’s review of State Farm renters insurance.

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    If it means you have to pay a bit more for renters insurance, even choosing high-quality coverage pays for itself. This is because this coverage provides you with better all-around protection. So, if you opted for a cheaper policy with less coverage, you will end up saving more money in the event of damage or loss.

    Renters Insurance in Idaho Analysis: Methodology

    MoneyGeek analyzed premiums for renters insurance from six of the leading insurance companies in Idaho, which were obtained in collaboration with Quadrant. The analysis involved gathering quotes for policies that offered personal property coverage options of $20,000, $50,000, and $100,000, liability coverage of $100,000, and a $500 deductible. The quotes were collected from various ZIP codes throughout Idaho.

    Regarding Mark Fitzpatrick.

    Mark Fitzpatrick headshot

    Mark Fitzpatrick, a senior content director at MoneyGeek with over five years of experience analyzing the insurance market, has been quoted in several publications, including Mashable and NBC News, providing personalized content and conducting original research for every buyer.

    Mark, who obtained a bachelor’s degree from Boston College and a master’s degree in International Relations and Economics from Johns Hopkins University, is passionate about using his knowledge in insurance and economics to bring transparency and help others feel confident in handling money and discussing financial topics.