Renters insurance isn’t always required if you’re a tenant in the Valley of the Sun, but it’s a smart purchase. For a small monthly premium, a policy protects you from financial loss if your personal belongings are damaged or stolen or if you are liable for an accident. Our partners at ConsumerAffairs researched the best renters insurance in Phoenix so you find the appropriate coverage from a reputable provider.
The possibility of a fire or theft at your apartment or rental home in Phoenix might seem remote, but if it does happen, don’t assume your landlord’s insurance will cover it. Usually, that only extends to the physical structure of where you live, not your personal property.
That’s why having renters insurance in Phoenix is a good idea. If your clothes, furniture, electronics or other belongings are damaged or stolen, you can file a claim for a loss.
In the Phoenix-Mesa-Scottsdale areas, where over 4 in 10 households rent, claims are more common than you might think. The Valley is vulnerable to dust storms and high-speed winds that can damage personal possessions, as well as strong lightning strikes that cause power surges. Personal property crimes, including theft, are significantly above the U.S. average.
Losses following all these events are covered by renters insurance.
In addition to personal property coverage, renters insurance in Phoenix also includes:
Liability coverage, which pays for medical bills, repairs or replacements and legal fees if you are legally responsible for an injury at your residence or damage to someone else’s property.
Additional living expenses coverage, which pays the extra costs of temporary living arrangements if your rental is uninhabitable as a result of a covered event.
As with other types of insurance, total coverage limits apply, so you will want to choose yours carefully, considering the total value of your possessions and assets.
You’ll also have to meet a deductible before personal property coverage begins. And you’ll need to decide if you want to pay a bit extra to get replacement cost coverage for your personal contents, which gives you the cash to buy a new item at today’s retail prices, as opposed to actual cash value, which factors in depreciation.
How much is renters insurance in Phoenix?
One of the benefits of renters insurance in Phoenix is that it’s affordable. Premiums in Arizona rank right around the national average, costing $11 - $15 per month. Your exact amount will depend on:
The age and construction of your property and the neighborhood characteristics
The coverage limits you pick
Whether you have replacement cost coverage vs. actual cash value coverage
The deductible you choose
Your claims and credit history
Whether you have pets
Renters insurance companies in Phoenix offer discounts if you bundle policies, have home safety features, pay automatically each month or are claim-free. As you get quotes, ask agents if they have included all available savings.
Before you purchase renters insurance, ask your landlord about any special requirements. Read a policy closely so you know what to expect when filing a claim. Be sure to let an agent know if you have expensive jewelry, art or other high-value possessions, which may require scheduled personal property coverage.
Policygenius is an online, independent insurance broker that has helped over 4.5 million shop for insurance. Use the company’s calculator tool to figure out how much renters insurance coverage you need. Apply and get clearly explained quotes with discounts. Phoenix customers describe the experience as hassle-free and like the assistance from licensed advisors at Policygenius.
EverQuote, the largest online insurance marketplace in the U.S., provides customers a fast, free and easy way to compare renters insurance quotes. Tell the company a few things about your rental, and it will connect you within minutes to highly rated Phoenix insurers. Reviewers like the number of policy options from EverQuote, but some mention a high volume of calls and emails from agents.