How to Compare Renters Insurance Quotes
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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Best Cheap Renters Insurance in Phoenix, AZ (2025)

Content was accurate at the time of publication.

Cheap renters insurance companies in Phoenix

$11/month
Cheapest rates: State Farm
State Farm logo
$15/month
Second cheapest: Lemonade
Lemonade logo
$18/month
Best customer service: Amica
Amica logo
+
More Options

Find the Cheapest Renters Insurance Quotes in Phoenix

For the cheapest renters insurance in Phoenix, get a quote from State Farm. The company’s average rate of $11 a month is by far the lowest in Arizona’s largest city. It’s also 27% cheaper than second-place Lemonade ($15 a month).

Amica and Allstate also have average renters insurance rates that are much cheaper than the city average of $24 a month.

Phoenix renters insurance rates

CompanyMonthly rateAnnual rateLendingTree score
state farm logoState Farm$11$1324 stars
lemonade logoLemonade$15$1803 stars
amica-logoAmica$18$2164.5 stars
allstate logoAllstate$20$2403.5 stars
assurant logoAssurant$22$2643 stars
progressive logoProgressive$23$2763 stars
farmers insurance logoFarmers$29$3483 stars
American Family logoAmerican Family$55$6603.5 stars

It might be tempting to just get a quote from State Farm when trying to get the cheapest renters insurance in Phoenix. But discounts can make a big difference in the cost of renters insurance. 

Because of this, it’s a good idea to compare renters insurance quotes from at least three companies before you buy or renew a policy.

State Farm and Lemonade are the best renters insurance companies in Phoenix if you’re looking for the most affordable rates.

If excellent customer service is a top priority, get a quote from Amica. American Family is great for optional coverages.

CompanyBest forMonthly rate Customer satisfaction score Source: J.D. Power 2024 U.S. Home Insurance Study. Higher is better; 659 is average.
State FarmOverall$11679
LemonadeSecond cheapest rates$15682
AmicaCustomer satisfaction$18695
American FamilyAdd-on coverages$55Not rated

Best company overall and lowest rates: State Farm

State Farm logo
Monthly rate: $11
4 stars

Pros

 Cheapest rates in city
 Great customer satisfaction score
 Several coverage options

Cons

 Fewer discounts than most companies

The main reason State Farm is the best renters insurance company in Phoenix is that it has the city’s cheapest average rate of $11 a month. It also scores well with customers, too, based on its high rating in the J.D. Power 2024 U.S. Home Insurance Study J.D. Power’s satisfaction scores are based on customer surveys rating companies on factors like price, coverage options and problem resolution. .

State Farm also offers a number of coverage options that let you customize a policy to your liking. This includes coverage for identity theft and your pet’s medical bills. 

Read Review

Second cheapest: Lemonade

lemonade-logo
Monthly rate: $15
3 stars

Pros

 Low average rate
 Excellent customer satisfaction rating
 Convenient app and website
 Many add-on coverages

Cons

 Not many ways to save money

Lemonade is a great second choice if you plan to get multiple renters insurance quotes in Phoenix. This young company also offers low rates and many optional coverages. And its customer satisfaction score is even better than State Farm’s.

You can’t get many discounts from Lemonade, though, which could keep it from being your cheapest option. Still, taking the time to compare quotes from it and another company or two could be well worth your while.

Read Review

Customer favorite: Amica

amica-logo
Monthly rate: $18
4.5 stars

Pros

 Best customer satisfaction of surveyed companies
 Rates are cheaper than average
 Many discounts to make more affordable

Cons

 Good average rate, but still 64% more than State Farm

Phoenix renters who want to buy insurance from a company that makes customers happy shouldn’t ignore Amica. It earned the best customer satisfaction score of the companies we surveyed.

Amica’s rates are cheaper than the city average, too, though they’re still quite a bit higher than State Farm’s. If you can get a few of its many discounts, though, they could make it a lot more affordable.

You may get renters insurance discounts from Amica for buying multiple policies from the company, not filing claims and being a loyal customer. You can also save money by signing up for autopay or electronic documents.

Read Review

Best coverage options: American Family

American Family logo
Monthly rate: $55
3.5 stars

Pros

 Most coverage options of surveyed companies
 Most discounts, too

Cons

 Highest average rate in city by far
 Customer satisfaction score is only average

American Family offers the most coverage options and discounts of any renters insurance company we surveyed in Phoenix.

It also has the city’s most expensive renters insurance rates, on average. Getting a couple of those discounts could make it cheaper. 

Really, though, AmFam’s biggest draw for most renters is likely to be its add-on coverage options. With American Family, you can pay extra to cover:

  • Valuable personal property This add-on provides extra coverage for valuables like furs, jewelry and fine art that are damaged by a covered event.
  • Equipment breakdowns Repairs or replaces home appliances or equipment damaged by sudden and accidental mechanical or electrical breakdowns.
  • Damage from water backups Covers water damage caused by a drain or sewer backing up, or a sump pump breaking.
  • Flash flood damage
  • Home business property and liability
  • Travel or trip interruption
  • Credit monitoring 
  • Identity theft

Read Review

Find the Cheapest Renters Insurance Quotes in Phoenix

Renters insurance in Phoenix costs $24 per month, on average, or $288 per year. That’s 14% more than the Arizona state average of $21 per month, or $252 per year.

What you pay for renters insurance depends on things like how much stuff you own and the deductible The amount of money you pay out of your own pocket after you file a claim and before your insurance company pays the rest. you choose. Where you live also plays a role. And not just your state, but your city and neighborhood as well.

You don’t need to buy renters insurance in Phoenix because of any city or state laws. But you might need to buy it because of a lease or renters agreement.

If you don’t know if you need renters insurance where you live, ask your landlord.

The average cost of renters insurance in Phoenix is $288 a year. That’s $24 a month.

State Farm is the cheapest renters insurance company in Phoenix, with an average rate of $11 a month. Lemonade is the city’s second-cheapest company for renters insurance, at $15 a month.

State Farm is Phoenix’s best renters insurance company overall. This is because it has the city’s cheapest rates, on average, along with many coverage options and great customer satisfaction ratings.

Methodology

LendingTree collected thousands of renters insurance quotes from the largest insurance companies in each state, based on data availability.

We used thousands of renters insurance quotes from across the U.S. for a 30-year-old single woman who has no recent renters insurance claims. Your rates may vary. Coverage limits include:

  • Personal property coverage: $20,000
  • Deductible: $500
  • Personal liability: $100,000
  • Guest medical protection: $1,000
  • Loss of use: $9,000

Overall satisfaction ratings were obtained from J.D. Power’s 2024 U.S. Home Insurance Study. The agency’s scores are based on customer surveys that rate insurance companies on factors like price, policy offerings and claims.