The Best and Cheapest Renters Insurance in Nevada

When you are headed to off-campus housing, you may be required to buy renters insurance by your landlord. Other times, depending on the value of your belongings, it can be a great idea even if you are not required to have it. Before you spend money on renters insurance, there are several factors to consider to get the most coverage for the lowest rate in Nevada.

Why Do College Students Need Renters Insurance?

Annually, there is an increase in burglaries near Nevada college campuses. For example, in:

• Reno – There were 4.32 burglaries per 1,000 people
• Las Vegas – There were 3.12 burglaries per 1,000 people
• Elko – There were 6.24 burglaries per 1,000 people
• Henderson – There were 2 burglaries per 1,000 people

While renters insurance may not be able to stop the crime, it can help you recover from your loss to continue to concentrate on your studies.

How Much Is Renters Insurance in Nevada?

When you start comparing how much is renters insurance in Nevada, you will find various rates across the state. A male who is 20 years old can expect to pay:

Best Renters Insurance Companies in Nevada

While everyone loves saving money, price is not the only factor to consider when shopping for the best renters insurance rates in Nevada. Therefore, you need to ensure that your stuff is protected, including expensive collections and electronics. You also need to consider how easy it is to contact customer service. Let’s do a deep dive into eight insurance companies that provide renters insurance in Nevada.

Liberty Mutual

Coverage

Liberty Mutual’s basic rental insurance provides you with $5,000 worth of personal property damage. Check with the company because there are specific limits on electronics and collections. You also get $1,000 for expenses if your unit becomes unlivable. There is a $500 deductible. You can increase the limits to $25,000 in property and $5,000 in expenses for an additional fee. This policy pays for the depreciated value of your stuff.

Claims

Liberty Mutual prides itself on allowing you to file a claim in under 10 minutes from its website or app.

Customer Service

Liberty Mutual’s app is a helpful way to contact the company. You can also call them at 1-844-349-8391.

Ratings

A.M Best gives Liberty Mutual an A while Moody’s gives them an A2. They also get an A from Standard & Poors.

Price

$60 annually

Lemonade

Coverage

The basic renters policy from Lemonade gives you $20,000 in coverage on your personal property. If you have bikes, jewelry, art, or cameras worth more than $1,000, you need to purchase additional coverage. You get $1,500 of coverage for your electronics, such as laptops and smartphones, with the basic policy. You get $100,000 in personal liability coverage and $6,000 in loss of use coverage, and $1,000 in medical coverage.

Claims

If you need to file a claim, you do it through the Lemonade app. Lemonade is slightly different from most insurance companies because they collect an upfront fee and use the rest of the money to pay claims.

Customer Service

The Lemonade app allows you to connect with their customer service agents. If you cannot use the app, you can chat with them on their website.

Ratings

While A.M. Best and Standard and Poors do not rate Lemonade, they receive an A from Demotech.

Price

$109.08 annually

Acuity

Coverage

The basic renters policy from Acuity comes with $30,000 coverage for your things. The policy has a $500 deductible. It includes $300,000 in personal liability coverage. The policy also gives you $12,000 to help you get settled in a new place if yours becomes unlivable. It also offers $5,000 in medical coverage if someone gets hurt on your property. The policy does not cover water damage caused by plumbing or sewer issues. It does cover replacing your old thing with new ones if you need to file a claim.

Claims

If you need to file a claim, you can call 800-242-7666 or use the form on the company’s website.

Customer Service

You can call customer service from 7 a.m. to 3:30 p.m. Monday through Friday or email them using their contact form.

Ratings

A.M. Best has given Acuity an A+ rating, and Standard and Poors has given them an A.

Price

$133.00 annually

Allstate

Coverage

The basic renters insurance policy from Allstate includes $15,000 worth of coverage for your personal property. There is a $1,000 deductible each time you receive money from a claim. The policy includes $100,000 in liability coverage and $1,000 in guest medical coverage.

Claim

The claims process starts by filling out a form online.

Customer Service

You can call 800-667-4669 to speak to a customer service agent.

Price

$168 annually

Travelers

Coverage

The basic renters insurance from Travelers provides $30,000 in personal property protection. If your rental is no longer livable, then you can get up to $9,000 to help you settle in a new place. This policy covers $100,000 in personal liability. If someone is hurt on your property, other than yourself, the policy covers $1,000 towards their medical care. There is a $500 deductible. One of the excellent features of this policy is that it pays replacement costs, so there is no deduction for depreciation.

Claims

Claims involving loss of property can be made from their website. You need to call them at 1-800-252-4633 if someone is hurt. The claims phone number is answered 24/7.

Customer Service

Travelers has numerous dedicated phone lines to different departments. You can also reach out to them using the company’s app.

Ratings

Travelers receives high marks from many companies. They have an A++ rating from A.M. Best, an Aa2 rating from Moody’s and a AA Standard & Poors rating.

Price

$170 annually

Progressive

Coverage

Progressive offers a basic $20,000 property policy with a $500 deductible. The policy covers the purchase of new stuff up to that amount. It includes a $1000,000 liability policy and an additional $1,000 medical policy. If you have jewelry worth more than $1,000, you will need to get an additional rider at an added fee. You may need additional water damage coverage.

Claims

If you need to file a claim, call 1-800-776-4737 to start the process.

Customer Service

Progressive is a vendor for several insurance companies in Nevada. Therefore, your actual policy may be with:

• American Modern
• ASI/Progressive
• Assurant
• First American
• Foremost
• Homesite
• IDS/Ameriprise
• National General
• Nationwide
• National Flood
• Progressive Manufactured Home
• QBE
• SageSure

Once you file a claim, you will be working with the company that underwrote your policy.

Ratings

A.M. Best gives Progressive an A+ Superior rating while Moody’s gives them an Aa rating. They receive an AA rating from Standard and Poor.

Price

$283 annually

GradGuard

Coverage

The basic renters policy from GradGuard includes $5,000 in property coverage with a $100 deductible. You get some coverage for things, like your bike, that you use but are stolen away from your apartment. Sound equipment in your vehicle may also be covered. Many items that you may have at your apartment have their upper coverage limits, which may be less than the replacement cost.

Claims

You can call GradGuard at 1-866-985-7598 Monday through Friday from 10 a.m. to 8 p.m. EST to start a clam. They also offer live support on their website during those hours. You can also use their website contact form.

Ratings

Merkel American Insurance Company operates GradGuard. A.M. Best gives them an A+ rating.

Price

$291.64 annually

Nationwide

Coverage

The basic renters policy from Nationwide includes $15,000 in property coverage. It also provides inflation protection, allowing you to replace your stuff with similar items at current prices. You also receive money to help you relocate if the unit becomes unlivable. The policy also gives you $100,000 in liability coverage and an additional $100,000 in personal injury liability. Furthermore, you get $1.000 medical expenses coverage if someone is hurt in your unit. The basic policy comes with a $500 deductible.

Claims

All claims start by calling 1-855-550-0768.

Customer Service

You can call 1-877-669-6877 to speak to a customer service agent or fill out a form on their website.

Ratings

A.M. Best gave Nationwide A+ rating. They received an A+ rating from Standard & Poors. Moody‘s gave them an A1 rating.

Price

$377.77 annually

Renters Insurance Cost in Nevada

Many different things can affect the rate you pay for renters insurance in Nevada. If you have a roommate or family, they will need to be added to your insurance policy, and their age and sex can affect your rate. You may have to pay more for insurance if you have a pet. Other factors might affect how much you pay for insurance, so you need to get quotes based on your circumstances and consider these rates as general guidelines based on a 20-year-old male college student in Reno, Nevada.

If you have not decided which apartment you want to rent, you may get a discount by choosing a property based on what renters insurance companies consider. Usually, smaller buildings get better rates, and selecting a newer building may decrease your insurance rates. Additionally, consider its proximity to a fire station and a fire hydrant.

You may be eligible for multiple discounts. For instance, some companies will give you a discount if you have multiple policies with them, such as your auto insurance. You may also find policies that give you a discount to set up automatic billing or to buy your insurance online.

What Does Renters Insurance in Nevada Not Cover?

You need to read the policy carefully to find out what is not covered. Some policies cover water damage caused by a sump pump malfunctioning or a water heater busting, while others do not.

You will also want to read what the company is offering in claims. A few companies provide new items when yours is stolen, but many offer only the value of your current item. This can make a huge difference. For example, if you own a camera that is five years old, then the value of that camera may have decreased by about 80%. Therefore, you may only get 20% of what you spent on the camera five years ago. Meanwhile, the cost of replacing that camera may have risen by over 40%.

In many cases, if you have certain items then their value may be capped. This often includes jewelry, artwork and sporting goods. Often, you can add a rider to your policy to cover these items for very little money.

The Best and Cheapest Renters Insurance in Nevada

Compare policies carefully to find the best and cheapest renters insurance in Nevada. Select between companies that are highly rated, like those on this list. Taking some time to consider different policies may get you the most bang for your bucks.