Best Cheap Renters Insurance in Phoenix, AZ (2025)
Cheap renters insurance companies in Phoenix
Cheapest renters insurance 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
Company | Monthly rate | Annual rate | LendingTree score | |
---|---|---|---|---|
![]() | State Farm | $11 | $132 | ![]() |
![]() | Lemonade | $15 | $180 | ![]() |
![]() | Amica | $18 | $216 | ![]() |
![]() | Allstate | $20 | $240 | ![]() |
![]() | Assurant | $22 | $264 | ![]() |
![]() | Progressive | $23 | $276 | ![]() |
![]() | Farmers | $29 | $348 | ![]() |
![]() | American Family | $55 | $660 | ![]() |
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.
Best renters insurance in Phoenix
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.
Company | Best for | Monthly rate | Customer satisfaction score Source: J.D. Power 2024 U.S. Home Insurance Study. Higher is better; 659 is average. |
---|---|---|---|
State Farm | Overall | $11 | 679 |
Lemonade | Second cheapest rates | $15 | 682 |
Amica | Customer satisfaction | $18 | 695 |
American Family | Add-on coverages | $55 | Not rated |
Best company overall and lowest rates: State Farm

Monthly rate: $11

Cheapest rates in city
Great customer satisfaction score
Several coverage options
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.
Second cheapest: Lemonade

Monthly rate: $15

Low average rate
Excellent customer satisfaction rating
Convenient app and website
Many add-on coverages
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.
Customer favorite: Amica

Monthly rate: $18

Best customer satisfaction of surveyed companies
Rates are cheaper than average
Many discounts to make more affordable
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.
Best coverage options: American Family

Monthly rate: $55

Most coverage options of surveyed companies
Most discounts, too
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
How much is renters insurance 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.
Frequently asked questions
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.