Best and Cheapest Renters Insurance in Texas for 2024 - NerdWallet (2024)

The average cost of renters insurance in Texas is $173 per year. For comparison, the national average is $148. However, shopping around is often the best way to find more affordable rates. To help you narrow the options, NerdWallet compared companies across the state to find the cheapest renters insurance in Texas, plus the best options for quality coverage.

Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.

The cheapest renters insurance in Texas

NerdWallet analyzed rates across the state from a variety of companies to find the ones offering the cheapest Texas renters insurance. Below are the five companies with the most affordable rates.

The best renters insurance in Texas

If you’re looking for quality coverage from a top-rated insurer, consider buying a policy from one of our Best Renters Insurance Companies.

More about the best renters insurance companies in Texas

See more details about each company to help you decide which one is best for you.

The country’s largest insurer, State Farm offers identity restoration coverage that you can add to your renters policy for $25 a year. This coverage helps you monitor and recover your credit after an identity theft incident and will reimburse associated expenses up to $50,000. Another useful feature you can add to a State Farm’s renters policy is inflation coverage, which raises your coverage limits to keep up with rising prices.

Travelers offers solid coverage alongside a user-friendly website where you can file claims, pay bills and chat live with a company representative. You can customize your policy by upgrading to replacement cost coverage, which means the company will pay enough for you to buy brand-new replacements if your belongings are stolen or destroyed. You can also add extra insurance for valuable items such as an engagement ring or musical instrument.

Along with standard coverage for liability and personal belongings, Nationwide renters insurance includes coverage for expenses due to theft, like unauthorized credit or debit card transactions and forged checks. You may also be able to add coverage for jewelry and other valuables or for damage due to backed-up drains.

Unlike most insurance companies, USAA includes coverage for flood damage as part of its renters policies. It also covers your stuff on a replacement cost basis, meaning that your claim payouts won’t be reduced just because some of your belongings have lost value since you first bought them. But only veterans, active military and their families can buy USAA renters insurance.

How much is renters insurance in Texas?

The average cost of renters insurance in Texas is $173 a year, or about $14 a month. That’s about 17% more than the national average of $148 a year.

In most U.S. states, including Texas, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

In Texas, those with poor credit pay an average of $297 per year for renters insurance, according to NerdWallet’s rate analysis. That’s about 72% more than those with good credit.

Average cost of renters insurance in Texas by city

How much you pay for Texas renters insurance will depend in part on where you live. For example, the average cost of renters insurance in Houston is $246 per year, while renters in Dallas pay $195 per year, on average.

Below are average rates for renters insurance in 25 of the largest cities in Texas.

What to know about Texas renters insurance

Natural disasters, such as tornadoes and tropical storms, happen regularly in Texas. If one strikes your home, your landlord’s insurance will cover only the building structure, not any damage to your possessions. That’s why it’s important to know what’s covered (or not) when shopping for renters insurance in Texas.

Floods

Flooding is the state’s most common disaster, according to the Texas Department of State Health Services, but standard renters policies won’t cover it. If you’re at risk — for example, if you live in a ground-floor apartment near the beach or another low-lying area — you may want to purchase separate flood insurance. Learn more about flood insurance for renters.

Hurricanes, tropical storms and tornadoes

Renting a place on the Gulf Coast? Make sure your renters insurance covers damage from hurricane and tropical storm winds. Though many standard renters policies cover wind-related claims, such coverage may be specifically excluded if you live in high-risk areas near the coast. The Texas Windstorm Insurance Association offers wind and hail policies to those who can’t find coverage elsewhere.

Even if you’re not in an area prone to hurricanes, you may still want to check your wind coverage. More than 100 tornadoes strike the state each year, on average.

Wildfires

Wildfires are another common disaster in Texas. While most renters policies cover losses due to fire, you’ll want to make sure you have enough personal property coverage to replace all your belongings if the worst happens. The calculator below can help you estimate how much your possessions are worth.

What determines Texas renters insurance rates?

You may pay more or less than the average annual premiums listed above, depending on various factors.

Your location

If you live on the Gulf Coast where hurricanes are common, or in a neighborhood with a high crime rate, you may pay more for a renters policy.

Your credit

As noted above, many insurance companies look at your credit history to evaluate how likely you might be to file a claim. People with better credit tend to get cheaper renters insurance rates.

Your claims history

If you’ve filed any renters insurance claims in the past few years, your insurer may charge more for your policy. NerdWallet analyzed Texas renters insurance rates for tenants who’d previously filed a theft claim and found that they were 17% higher than rates for someone without a recent claim, on average.

Your coverage limits

If you have more possessions — or particularly valuable possessions — to cover, you’ll typically pay more for renters insurance.

Your deductible

Raising your deductible is an easy way to lower your Texas renters insurance premium, as long as you feel confident you can access enough cash to pay it if necessary. (A deductible is the amount subtracted from your claim payout.)

Other policies

If you buy your renters and auto insurance from the same company, you can often get a bundling discount.

Your home’s features

Home security systems, fire alarms and 24-hour building security guards could earn you discounts.

Your dog

Dog bites are a common cause of renters liability insurance claims. So if your pup is a breed that insurance companies consider high-risk, such as a pit bull or Doberman pinscher, your premium might be higher (if the animal is covered at all).

Texas Department of Insurance

If you have questions, concerns or complaints about your renters insurance, the Texas Department of Insurance may be able to assist. You can call its consumer helpline at 800-252-3439 for service in both English and Spanish.

When you buy or renew a renters policy in Texas, your insurance company is required to give you a copy of the department’s Consumer Bill of Rights for renters insurance. This document is worth a read: It explains how Texas insurance companies can use your credit information, establishes timelines for claims processing and lists circ*mstances under which your policy can and can’t be canceled.

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