Best and Cheapest Renters Insurance in New York for 2025 (10 Most Affordable Companies)

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The best and cheapest renters insurance in New York are Geico, USAA, and Allstate, with Geico offering the lowest rates at just $15 per month, USAA providing top benefits for military families, and Allstate standing out for flexible coverage options.

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Renters in New York can save even more by taking advantage of bundling discounts, claim-free savings, and auto-pay reductions, with State Farm offering the highest bundling discount at 20% and Farmers providing a 25% claim-free discount.

Insurance Company	Rank	Monthly Rates	A.M. Best	Best For	Jump to Pros/Cons
	#1	$15	A++	Affordable Rates	Geico
	#2	$16	A++	Military Benefits	USAA
	#3	$18	A+	Flexible Coverage	Allstate
	#4	$19	A++	Customer Satisfaction	Progressive
	#5	$20	A	Loyalty Rewards	State Farm
	#6	$22	A+	Comprehensive Options	American Family
	#7	$25	A+	Strong Bundling	Farmers
	#8	$27	A	Personalized Policies	Travelers
	#9	$28	A++	Multi-Policy Savings	Nationwide
	#10	$30	A	Customizable Discounts	Liberty Mutual

Coverage options vary by provider, with most policies including personal property, liability protection, and additional living expenses, but only select companies, like American Family and Liberty Mutual, offering identity theft protection.

To find the best coverage at the lowest price, compare quotes and look for discounts that fit your needs. Use our free quote comparison tool to find the cheapest coverage in your area.

What You Should Know

• Get the best and cheapest renters insurance in New York starting at $15 a month
• Geico offers the lowest rates, plus discounts for bundling and a strong A++ rating
• USAA is best for military families, while Allstate provides flexible coverage options

#1 – Geico: Top Overall Pick

Pros

• Lowest Renters Insurance Rate: Offers renters insurance for just $15/month, making it the most affordable option in New York.
• Discount Leader: As per our Geico review, it provides multi-policy, security system, and claims-free discounts, helping renters save in New York.
• Excellent Reputation: Holds an A++ rating from A.M. Best, ensuring policyholders can rely on financial stability in New York.

Cons

• Limited Customization: Offers fewer optional coverages, such as identity theft protection or extended personal property coverage in NY.
• No Local Agents: Unlike State Farm or Farmers, Geico’s renters insurance is managed entirely online, limiting in-person service options in New York.

#2 – USAA: Best for Military Benefits

Pros

• Military Exclusive: Available only to active-duty military members, veterans, and their families in New York
• Flood & Earthquake Protection: Includes coverage for flood and earthquake damage at no extra cost, unlike most policies in New York. Read our USAA review for a full list.
• Exceptional Customer Service: Known for quick claims processing and highly rated support for military families renting in NY.

Cons

• Not Open to the General Public: USAA renters insurance in NY is restricted to military personnel and their families.
• Fewer Customization Options: Renters in New York won’t find as many optional endorsements for valuables or extended liability coverage.

#3 – Allstate: Best for Comprehensive Options

Pros

• Highly Adjustable Policies: Renters can tailor coverage for high-value items, identity theft, and liability protection in New York.
• Discounts for Safe Homes: Installing smoke detectors, security systems, or deadbolts can help reduce premiums in New York. Discover details in our Allstate review.
• Convenient Online and Local Agent Support: Installing smoke detectors, security systems, or deadbolts can help reduce premiums in NY.

Cons

• Higher Monthly Rates Than Some Competitors: At $18 per month, Allstate renters insurance isn’t the cheapest option for NY renters.
• Mixed Claims Experience: Some policyholders report delays in processing property damage claims in New York.

#4 – Progressive: Best for Flexible Coverage

Pros

• Flexible Policies: Allows customizable renters insurance in New York coverage. Read our review of Progressive for full details.
• User-Friendly: Easy online quote and policy management for renters insurance in New York.
• Great Bundling Discounts: Savings available when combining renters insurance in New York with other policies.

Cons

• Basic Coverage: Standard renters insurance in New York may lack key protections.
• Higher Standalone Rates: More expensive renters insurance in New York if not bundled at $19 per month.

#5 – State Farm: Best for Customer Satisfaction

Pros

• Trusted Provider: Highly rated renters insurance in New York with strong customer satisfaction. Read our State Farm review for more.
• Local Agents: Personalized service from knowledgeable renters insurance in New York agents.
• Fast Claims Processing: Efficient claims handling for renters insurance in New York policyholders.

Cons

• Higher Rates: With a starting rate of $20 per month, it’s costlier than some competitors in New York competitors.
• Fewer Discounts: Limited savings options for renters insurance in New York.

#6 – American Family: Best for Loyalty Rewards

Pros

• Loyalty Rewards: Long-term customers get discounts on renters insurance in New York.
• Strong Bundling Options: Multi-policy discounts available for renters insurance in New York.
• Personalized Service: Offers tailored renters insurance in New York coverage. Explore our American Family review.

Cons

• Higher Starting Price: Starting at $22 per month, renters insurance in New York costs more than competitors.
• Limited Availability: Not available in all areas for renters insurance in New York.

#7 – Farmers: Best for Personalized Policies

Pros

• Customizable Plans: Offers flexible renters insurance in New York coverage. Find more in our Farmers review.
• Local Agent Support: In-person service for renters insurance in New York.
• Additional Living Expense Coverage: Covers temporary housing with renters insurance in New York.

Cons

• Pricier Than Most Alternatives: At $25 per month, Farmers renters insurance costs more than most providers in New York.
• Limited Discounts: Fewer savings opportunities for renters insurance in New York.

#8 – Travelers: Best for Multi-Policy Savings

Pros

• Best for Multi-Policy Savings: Strong bundling discounts on renters insurance in New York.
• High-Value Coverage: Ideal for renters with valuable belongings in New York. Find the full list in our Travelers review.
• Top Financial Strength: A++ rated renters insurance in New York.

Cons

• Costlier Than Average: Travelers renters insurance starts at $27 per month, higher than most competitors in New York.
• Fewer Local Agents: Less in-person service for renters insurance in New York.

#9 – Nationwide: Best for Strong Bundling

Pros

• Great for Bundling: Multi-policy discounts available for renters insurance in New York.
• Extra Protection: Add-ons for enhanced renters insurance in New York coverage.
• Financial Stability: Strong A+ rating for renters insurance in New York. Learn more in our Nationwide review.

Cons

• Higher Rates: With rates starting at $28 per month, Nationwide is among the pricier options in NY.
• Less User-Friendly: Online quote process for renters insurance in New York could improve.

#10 – Liberty Mutual: Best for Customizable Discounts

Pros

• Custom Discounts: Many ways to save on renters insurance in New York. See our Liberty Mutual review for more.
• Worldwide Coverage: Protects belongings globally with renters insurance in New York.
• 24/7 Claims Assistance: Round-the-clock support for renters insurance in New York.

Cons

• Expensive Rates: At $30 per month, Liberty Mutual is the highest-priced standard renters insurance provider in NY.
• Limited Discount Availability: Fewer promotions than other renters insurance in New York providers.

Best New York Renters Insurance Rates

If you're searching for the cheapest renters insurance in New York, Geico offers the most affordable rates at just $15 per month, followed closely by USAA at $16 per month for eligible military members. On the higher end, Liberty Mutual is the most expensive option, with premiums starting at $30 per month.

The average cost of renters insurance in New York is approximately $146 per year, but the price you pay depends on various factors, including where you live, your coverage limits, and the insurance provider you choose. Renters in urban areas like NYC may see higher rates than those in more rural parts of the state.

Below, you’ll find a table comparing the average monthly rates from major renters insurance providers in New York to help you find the most budget-friendly option:

Insurance Company	Monthly Rates
	$18
	$22
	$25
	$15
	$30
	$28
	$20
	$19
	$27
	$16

With Geico and USAA offering the lowest prices, comparing quotes is the best way to lock in an affordable policy that fits your needs. See the best renters insurance companies and rates in NYC, for full details.

Coverage Options Offered by Renters insurance for New York

Renters in New York have a variety of coverage options, which can vary by provider. Most policies include personal property coverage, additional living expenses (ALE) coverage, and medical payments to others, but not all insurers offer replacement cost coverage or identity theft protection.

If you’re renting an apartment, dorm, or house, it's important to compare coverage options to ensure your policy provides adequate protection for your belongings and liability needs. The table below highlights key coverage options from major renters insurance providers in New York.

Insurance Company	Personal Property	Additional Living Expenses	Medical Payments to Others	Replacement Cost	Identity Theft
	✅	✅	✅	❌	✅
	✅	✅	✅	✅	✅
	✅	✅✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	❌	✅
	✅	✅	✅	✅	✅

Most companies, including Geico, State Farm, and USAA, offer comprehensive coverage, while others, such as Allstate and Travelers, lack replacement cost coverage. If you’re looking for a policy that includes identity theft protection, providers like American Family, Liberty Mutual, and Nationwide may be the best choices. Reviewing coverage details before purchasing a policy ensures that you’re getting the best balance of affordability and protection.

Read More: Renters Insurance Guide

How to save money on your renters insurance in New York

If you're looking to cut costs on renters insurance in New York, taking advantage of bundling and claim-free discounts can make a big difference.

The table below shows that State Farm offers the highest bundling discount at 20%, meaning you can save the most by combining renters and auto insurance. Geico (18%) and Progressive (16%) also offer solid savings for bundling.

Insurance Company	Bundling	Claim-Free	Early Payment	Automatic Payment	Family/Spouse
	15%	20%	13%	7%	2%
	10%	22%	13%	7%	5%
	12%	25%	13%	7%	3%
	18%	15%	13%	7%	4%
	14%	20%	13%	7%	5%
	11%	18%	13%	7%	3%
	16%	21%	13%	7%	7%
	20%	24%	10%	6%	3%
	13%	16%	13%	7%	5%
	10%	23%	13%	7%	2%

If you’ve never filed a claim, Farmers gives the biggest claim-free discount at 25%, followed by State Farm (24%) and USAA (23%). Staying claim-free for a few years can lead to major savings on your premium.

Other easy ways to save include paying your policy early or setting up automatic payments—both can lower your bill by up to 13% and 7%, depending on the provider. If you share a household with a spouse or family member, Progressive gives the highest family discount at 7%, while American Family, Liberty Mutual, and Travelers offer 5%. By combining multiple discounts offer, you can lock the most savings for renters insurance in New York.

By using these discounts , you can lower your renters insurance cost and keep more money in your pocket while still protecting your belongings.

Getting Renters Insurance in New York

Many people aren’t sure what renters insurance actually covers, so it’s important to understand your policy before signing up. Most renters insurance plans include liability protection, which helps cover medical or legal costs if someone gets hurt in your rental.

Another key benefit is additional living expenses coverage, which helps pay for hotel stays and other costs if your apartment becomes unlivable due to a covered event, like a fire or flood.

To make the best choice, compare policies from top renters insurance companies in New York and review what’s included. If you want to learn more about coverage options, discounts, and how to find the best deal, check out our practical guide for understanding renters insurance for more details.

Finding the right insurance is a tedious task, but our free comparison tool simplifies the hassle of looking for cheap insurance by entering your zip code below.