The average cost of renters insurance in Alabama is $29 per month or $328 per year. Renters insurance is an affordable coverage that protects your personal property stored in a rented home, apartment, townhome, etc., against many disasters ranging from theft to fire damage and beyond. Having renters insurance can help you get reimbursed for property that needs to be repaired or replaced. Without renters insurance, you could end up having to pay to replace your personal property out of pocket following a disaster like a fire or break-in.
Fortunately, an Alabama independent insurance agent can help you get set up with renters insurance easily. They'll get you matched to the right policy fast. But first, here's a closer look at Alabama renters insurance.
Best Renters Insurance Companies in Alabama
Renters insurance in Alabama is available from many different insurance companies that offer personal coverage. However, you're looking to find top-quality coverage at the most affordable rate, and not all carriers are created equal. That's why we've put together a list of a few of the best renters insurance companies in Alabama for your convenience. When you're ready to find the right coverage, start with one of these outstanding carriers.
- USAA: A renters insurance policy from USAA costs an average of just $121 per year in Alabama or just over $10 monthly. Not only is USAA the cheapest renters insurance company in Alabama, but it also provides electronics coverage, valuable personal property coverage, and additional endorsement options. USAA also provides several discount options to help further reduce your rates. However, keep in mind that USAA's coverage is only available to active and retired military members and their families.
- Allstate: A renters insurance policy from Allstate costs an average of $160 per year or just over $13 per month in Alabama. Not only does Allstate offer affordable coverage, it also provides outstanding customer service and has excellent financial stability. Allstate also offers several discounts and easy online account management for policyholders.
- Nationwide: Renters insurance from Nationwide is a bit more expensive, at an average of $222 per year or $18.50 per month in Alabama. However, the coverage and carrier reputation may be worth it for many customers, since Nationwide has consistently excellent financial stability and customer service. Additional coverages like credit card coverage are also available. You could also qualify for one or more of Nationwide's several discount options.
An Alabama independent insurance agent can easily help you find a renters insurance policy from one of these top-rated local carriers.
What Does Alabama Renters Insurance Cover?
Renters insurance in Alabama is designed to protect you in a few different ways. A typical policy will give you the following protections:
- Personal property coverage: Referred to as "contents coverage," this can cover repair or replacement costs if your personal belongings are lost or damaged by covered hazards such as:
- Property crimes like burglary and vandalism
- Fires, whether they started in your own home or a neighboring unit
- Severe weather events such as tornadoes, thunderstorms, and windstorms
- Personal liability coverage: Referred to as “renters liability insurance,” this can cover your financial responsibilities if you unintentionally cause injuries, property damage, or financial harm to others. It can cover you against things like:
- Injuries or property damage caused by your pets or children
- Accidental injuries sustained by visitors in your home due to your negligence
- Accusations of libel or slander
- Loss of use coverage: Also referred to as "additional living expenses coverage," this can pay for your temporary living expenses if a covered event like a tornado leaves your home uninhabitable, and you must seek alternate accommodations while repairs are made. It can cover things like:
- The cost of staying in a hotel or temporary rental unit
- Takeout meals
- Moving expenses to move your property into storage or to move to a new apartment
- Temporary storage fees
- Pet boarding costs
- Extra gas mileage
When deciding how much property coverage you need, look at all your belongings, including electronics, clothing, jewelry, kitchenware, and furniture, and think about how much it might cost to fully replace everything in the event of a total loss. An Alabama independent insurance agent can help you select the proper coverage limits for your needs.
Additional Renters Insurance Coverage in Alabama
Beyond the basics of what's included in most Alabama renters insurance policies, you may need additional types of protection. You may need higher coverage limits or additional riders or endorsements to protect valuable personal property like jewelry or electronics. Since this type of property has a higher value, it may exceed your policy's typical coverage limits if it gets destroyed. You may also need coverage for natural flooding caused by rainfall or other disasters. Here are some common additional renters insurance options in Alabama:
- Additional valuables rider: You may need additional coverage for valuable items like jewelry, art, or collectibles in the form of an endorsement or a rider.
- Personal injury coverage: This can cover your legal fees and other costs if you get sued for claims of defamation or slander. Though its name is similar, it is not the same as personal injury protection under auto insurance.
- Water backup coverage: This can add protection against water damage caused by the backup of sewers, drains, or sump pump failure, which can lead to disasters like a flooded basement that would otherwise be excluded by Alabama renters insurance.
Your Alabama independent insurance agent can help you add any additional coverages you may need for your renters insurance.
What Renters Insurance Typically Doesn't Cover in Alabama
Even with renters insurance, there are some items and disasters that might not be covered under a standard policy that you need to be aware of. Your policy likely doesn't include protection for natural flood damage to your property if the source of the water was from rain or melted snow. Your policy might also exclude certain types of valuable property unless you specifically add a rider for it. These are just a few common coverage exclusions under Alabama renters insurance:
- Flooding: Many renters insurance policies don't provide coverage for water damage if the source is due to natural flooding such as hurricanes and tsunamis. You might want to purchase a separate flood insurance policy to cover these disasters.
- Earthquake damage: Many renters insurance policies also don't cover damage caused by earthquakes, landslides, mudslides, etc. You might want to purchase separate earthquake insurance to compensate for this risk.
- Structural damage: Your renters insurance policy doesn't provide coverage for structural damage to the unit you're renting. This coverage is only designed to cover the property you actually own, meaning your contents or personal property.
- Roommate property: If you have a roommate, your personal renters insurance policy may not cover their property. Your roommate may need to purchase their own renters insurance policy to have coverage.
- Expensive items: If you have valuable property, it may exceed your policy's limits after a disaster, or coverage for these items may be excluded entirely. Be sure to read your policy's terms and look into adding endorsements or riders if you have expensive property.
Work with your Alabama independent insurance agent to review your renters insurance policy's fine print so you can be aware of what's excluded from the very beginning.
How Much Does Renters Insurance Cost in Alabama?
Renters insurance in Alabama costs an average of $328 annually or $29 monthly. The current national average cost of renters insurance is only $159 annually, so coverage in Alabama is quite a bit more expensive in comparison. This can be due to a number of factors, such as crime rates in Alabama and the state's risk of natural disasters like flooding.
However, there are ways you can save money on your renters insurance. Working with an Alabama independent insurance agent can help you get matched to the most affordable coverage near you. Your agent will ensure you get every discount you qualify for to help bring the price down as much as possible.
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What Factors Impact Renters Insurance Costs in Alabama?
Many different factors go into determining your renters insurance premium rates in Alabama. Your location is just one of these factors. But how much coverage you need also impacts the overall cost you'll pay for your policy, as does the deductible amount you select. Still, other factors can influence your renters insurance costs to be aware of. Some of these can include:
- Location: Where you live heavily impacts the cost of renters insurance. An area's crime rates, property values, risk of natural disasters, and more all go into premium calculations.
- Coverage amount needed: The more personal property you have, the more coverage you'll need to protect it. With more coverage comes a higher cost for your policy.
- Deductible amount: The deductible amount you select when purchasing your policy greatly influences your premiums. Choosing a higher deductible amount can mean lower monthly premiums, but you'll have to pay more out of pocket per claim.
- Actual cash value vs. replacement cost coverage: Your belongings' actual cash value factors in depreciation, while replacement cost coverage would pay to replace an item given its original value. You'll pay more for a policy that includes replacement cost coverage.
- Credit score: As with car insurance and many other types of coverage, your credit score can impact the cost of your renters insurance premiums. A higher credit score can lead to lower insurance costs.
Alabama Renters Insurance Costs by City
The cost of renters insurance in Alabama varies according to each specific city. Since property values, crime rates, risks of natural weather events, and more can also vary by city, so does the cost of renters insurance. Here are just a few of the major cities in Alabama and the average cost of renters insurance in each.
Alabama Renters Insurance FAQs
Renters insurance in Alabama covers your personal property or belongings, also called contents, that you keep in your rented property such as a home, apartment, or townhouse. Coverage protects against theft, damage, or destruction by a number of different threats like fires, lightning, wind damage, vandalism, and more.
Renters insurance isn't mandated by state law in Alabama. However, many landlords require tenants to provide proof of renters insurance before they're allowed to move in.
Renters insurance in Alabama costs an average of $328 annually or $29 monthly. However, you can save money by shopping around for coverage or enlisting the help of an Alabama independent insurance agent.
Our research found that USAA is the cheapest renters insurance company in Alabama. USAA's coverage is available to active and retired military members and their families. Renters insurance in Alabama from USAA costs an average of $121 per year or just over $10 per month.
We found that USAA is the best renters insurance company in Alabama. Not only is coverage for active and retired military members and their families super affordable from USAA, but the carrier also offers many endorsement options and discounts.
The most common renters insurance claims in Alabama are related to stolen or vandalized personal property. This is due to Alabama having the 11th-highest burglary rate in the US.
Depending on your specific coverage, your renters insurance likely excludes flooding and related damage to your property in Alabama. You may need to purchase separate flood insurance to have coverage.
Yes, Alabama independent insurance agents are ready to help you find the right renters insurance policy. These agents shop and compare quotes for renters insurance from multiple local carriers for you. They'll ensure you get set up with the overall best blend of coverage and cost when it comes to Alabama renters insurance. They can also help you update your coverage or file claims down the road.
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