The Best and Cheapest Renters Insurance in Scottsdale, AZ, for 2023: Rankings, Reviews and Rates

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2023.

The Cheapest and Best Renters Insurance in Scottsdale

What Are the Best Renters Insurance Companies in Scottsdale?

The top providers of renters insurance in Scottsdale, as reported by MoneyGeek, are:.

  • Top Choice: USAA (exclusive to active-duty and retired military personnel).
  • Second place: State Farm.

    • To identify the best renters insurance companies, MoneyGeek looked at companies that offer unique coverages not found in all companies’ insurance. MoneyGeek incorporates a unique rating system that calculates final scores using ratings from AM Best for financial stability, J.D. Power for customer satisfaction, and affordability.

    Geek Rapid Assessment.

    Members of the military and their families have the opportunity to utilize USAA, which secured the top spot on our ranking, boasting an impeccable record in both customer contentment and financial security.

    Learn More About USAA.

    USAA consistently ranks among the cheapest insurance companies across the country, offering policies that cover damage from earthquakes and floods. If you lose similar items and need to replace them, USAA will reimburse you at their replacement value. USAA has a unique number of coverages and also offers policies that cover the loss of your possessions.

    Check out MoneyGeek’s review on USAA renters insurance.

    Geek Rapid Assessment.

    State Farm secured the runner-up spot and obtained commendable ratings in most categories. Additionally, State Farm provides the choice to buy insurance specifically for earthquakes.

    Learn More About State Farm.

    Farm State insurance for renters is one of the cheapest options available across the United States. To ensure that your property is adequately covered over time, you can also consider purchasing coverage that accounts for inflation. Moreover, Farm State’s earthquake coverage can provide protection for your family and help you recover from the effects of an earthquake.

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

    Frequently Asked Questions About Renters Insurance in Scottsdale

    These questions can help determine the best insurer that suits your specific requirements. If you are in search of renters insurance, there are several choices available in Scottsdale.

    Understanding Renters Insurance in Scottsdale

    MoneyGeek recommends purchasing affordable and cost-effective renters insurance to protect your belongings and assets against unexpected incidents, such as natural disasters, theft, and fire.

    What Does Renters Insurance Cover in Scottsdale?

    It is important to find a range of insurance options to cover renters in Scottsdale. Keep in mind that renters insurance covers potential losses due to unique risks such as water damage and fires, which can happen anywhere.

    The average rate across the country is approximately 2% lower, equating to 1,856 incidents per 100,000 individuals. According to the FBI’s 2019 report, Scottsdale experienced a surge in property offenses. Furthermore, residents of Scottsdale can safeguard their belongings by investing in renters insurance.

    Typically, renters insurance policies include the following types of protection:.

  • Coverage for personal belongings: This safeguards your belongings from occurrences such as fires, vandalism, theft, and plumbing problems.
  • In some cases, you may need temporary accommodation to cover your additional living expenses after a disaster strikes and you are responsible for taking care of someone’s expenses.
  • This helps in paying legal expenses, as well as court judgments and legal expenses. It also helps protect you against injuries and accidents caused to others on your property: liability insurance.
  • If you rent a property, even if you are not at fault, medical expenses coverage pays for injuries.

    • What Is Not Covered by Renters Insurance in Scottsdale?

    Tenant insurance does not encompass the building of the residence. Alternatively, the landlords ought to possess insurance safeguarding the construction.

    Renters have the option to purchase extra insurance through the National Flood Insurance Program (NFIP). Regular policies typically do not include coverage for water damage caused by floods.

    The policy limits are higher for items that are more expensive, such as jewelry or your car, and it does not provide coverage for damage to them. Additionally, it does not cover damage from earthquakes. Please note that the renters insurance only covers your possessions and not those of your roommate.

    Make sure to thoroughly review your policy in order to determine if it includes these items. It is important to check it carefully and bear in mind that policies can vary, so it is beneficial to keep that in mind.

    The Companies With the Cheapest Renters Insurance in Scottsdale

    Renters in Scottsdale should shop around to compare quotes and purchase a policy that suits their specific needs and budget, making sure to consider insurers that offer similar coverages.

    MoneyGeek’s examination of renters insurance rates in Scottsdale discovered that the most affordable choices for the typical consumer are:.

  • Lemonade: $66 annually.
  • State Farm: $95 annually.

    • The cost of your policy will vary depending on the limits of your personal property coverage. The rates in this analysis are determined by a policy that encompasses $20,000 in coverage for personal property, $100,000 in liability coverage, and a $500 deductible, as illustrated in the table below.

    If you reside in another location in Arizona, take a look at the typical costs for rental insurance in the state.

    Average Annual Rates for Personal Property Insurance

    Coverage for Personal Belongings:

    Keep scrolling for additional content.

    The Average Cost of Renters Insurance in Scottsdale for 2023

    Renter’s insurance is the same as the average.

    The typical yearly expense for rental insurance in Scottsdale is $138, which is $21 lower than the nationwide average of $159.

    What Factors Impact Renters Insurance Costs in Scottsdale?

    While there are multiple factors that impact the expenses of your rental insurance, the following ones hold the most significant impact on your monthly payments.

  • It is important to know just how much coverage you need when it comes to renters insurance in Scottsdale, to ensure that your personal property and belongings are protected.
  • The premiums for neighborhoods with high crime rates are usually higher. The rates for renters insurance can slightly vary depending on the neighborhood in which you live, depending on the safer areas. Location.
  • Before you pay the insurance amount, you need to claim a deductible from your wallet, as policies with high deductibles have lower premiums.
  • If the item was lost or damaged at the time, you will be reimbursed based on how much it was worth. If you have an actual cash value (ACV) policy, you will be reimbursed based on the replacement cost rather than the depreciated value. With this type of coverage, depreciation is not factored into the equation. If you have a replacement cost value (RCV) policy, you will be reimbursed based on the cost to buy a new item of similar type and quality.
  • The standard renters policy typically offers $100,000 of liability coverage, but you have the option to increase the coverage by paying a small additional amount per year. The level of liability coverage can be adjusted as per your needs.

    • Calculate How Much Renters Insurance You Need

    Does My Scottsdale Neighborhood Impact Cost of Renters Insurance?

    Our study discovered that your insurance rate is influenced by the neighborhood you live in, but the amount it affects is only a small portion of your monthly payment. The location of your rental home does not have a significant impact on the cost of your renters insurance.

    Renters Insurance in Scottsdale Analysis: Methodology

    MoneyGeek analyzed hundreds of renters insurance quotes to help you find cheap insurance in Scottsdale. Our metrics of affordability are derived from a comprehensive analysis of quotes provided by Quadrant and the rankings of the best renters insurance were determined using data from AM Best, J.D. Power.

    About Mark Fitzpatrick.

    Mark Fitzpatrick headshot

    Mark Fitzpatrick, a senior content director at MoneyGeek with over five years of experience in analyzing the insurance market, has been quoted in several publications, including Mashable and NBC News. He creates personalized content and conducts original research to cater to 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 utilizing his expertise in insurance and economics to foster transparency and enhance others’ understanding of financial matters. He confidently facilitates the transfer of funds and actively engages in discussions on various financial topics.