Renters Insurance in Houston (2024)
Key takeaways
- Lemonade offers the cheapest renters insurance rates for Houston residents
- Allstate has the best discounts for retirees
- State Farm has the best renters insurance policy add-on options
- Progressive has the best renters insurance discounts
Cheapest renters insurance companies in Houston
Lemonade has the cheapest average renters insurance rate for Houston residents, at $20 a month, or $240 a year.
Amica is the next cheapest at $21 a month, or $252 a year.
For comparison, the average cost of renters insurance in Houston is $306 a year.
Cheapest renters insurance by company
| Company | Average annual rate | LendingTree score | |
|---|---|---|---|
 | Lemonade | $240 |  |
 | Amica | $252 |  |
 | Allstate | $282 | |
 | State Farm | $287 |  |
 | Progressive | $341 |  |
 | Assurant | $364 |  |
 | Farmers | $376 | |
Renters insurance companies look at many factors when calculating your rate, including:
- ZIP code
- Your insurance claim history
- Policy coverage limits and deductible chosen
- Credit score
Best renters insurance companies in Houston
Lemonade is best for Houston renters looking for the cheapest rates, while Allstate has the best discounts for retirees, and State Farm has the best add-on options. Progressive has the best overall discounts.
Best company for cheap rates: Lemonade
On top of Lemonade offering the lowest renters insurance rates in Houston on average, it also pays out claims for its standard renters insurance at replacement cost instead of actual cash value
This means that your personal property will be covered at the cost for a brand-new replacement, without depreciation factored in.
Pros
Cheapest rates in Houston
Claims paid out at replacement cost
Family members living with you are automatically covered
Bundling discount available
Cons
Claim filing is only online or by app
Relatively high overall complaint rating (7.74, where 1.0 is average)*
* Source: National Association of Insurance Commissioners, 2023 data
Best renters insurance for retirees: Allstate
Houston residents 55 years of age or older can get up to 25% off their renters insurance premium with Allstate.
Pros
Discount for retirees 55 and older
Offers umbrella coverage as an add-on policy
Cons
Relatively high overall complaint rating (3.55, where 1.0 is average)*
Replacement cost coverage not included in standard policy
* Source: National Association of Insurance Commissioners, 2023 data
Best policy add-ons: State Farm
State Farm offers the best range of add-on coverage to beef up your standard renters insurance policy.
These supplements include:
- Umbrella insurance for extra liability coverage, including protection while driving a car or boat, or even claims of libel and slander
- Pet insurance coverage to help with vet bills
- ID restoration to help with costs repairing identity theft
- Earthquake coverage
- Inflation coverage to adjust the replacement cost of your valuables
Pros
Good add-on coverage
Renters insurance rates below state average
Cons
Few discounts
Best discounts: Progressive
Progressive offers the widest range of discounts in Houston to bring the cost of your renters insurance down.
You may qualify for discounts for…
- Bundling renters and auto insurance together
- Getting a Progressive policy at least three days before your current policy ends
- Switching to electronic statements
- Paying your annual premium in one payment
- Living in a gated community
Pros
Good range of discounts
Offers personal injury add-on coverages
Cons
High average renters insurance rates
Replacement cost coverage not included in standard policy
What does renters insurance cover in Houston?
Standard renters insurance coverage includes the following:
Personal property
Possessions, such as clothing, furniture and electronics, are covered against damage or destruction from specific risks (perils) named in your policy.
Liability
This offers coverage for injuries and property damage to others when you’re held responsible.
Medical payments
This coverage handles injury-related expenses for others hurt in your rental home, regardless of fault.
Additional living expenses
This covers the costs of relocation while your rental home is repaired.
Frequently asked questions
Texas state law doesn’t demand residents carry renters insurance. However, landlords usually require you to carry renters insurance as part of their lease agreement.
You’ll want to have enough personal property coverage to make sure you can replace all your belongings if a total loss occurs. Make a home inventory list complete with the cost, description and serial numbers of each item (when possible) in order to get an accurate estimate of your personal property’s value.
Renters insurance liability coverage usually starts at $100,000, but you can hit this limit quickly if there’s an extended hospital stay or court case. If claim-related costs go over your policy limit, you’ll need to pay them on your own.
To avoid this, consider raising your liability limit to $300,000 if possible. The policy cost difference shouldn’t be very much in comparison to the coverage increase.