Cheapest & Best Renters Insurance In Springfield 2025
USAA offers the cheapest renters insurance rates in Springfield, at an average monthly cost of $11. On the other hand, State Farm provides the best insurance policy.
We’ve saved shoppers an average of $200 per year on their renters insurance.
When it comes to affordable renters insurance in Springfield, USAA leads the pack with an average cost of just $11 per month.
A good reason to get renters insurance if you live in the Queen City of the Ozarks: Springfield experiences over 7,000 residential burglaries annually. Protecting your belongings with renters insurance is a smart financial move.
Cheapest Renters Insurance Companies In Springfield
If you’re looking for the most affordable renters insurance in Springfield, USAA offers the lowest rates at an average of just $11 per month. Here’s a table highlighting the five cheapest providers to help you compare your options:
| Company | Average Monthly Cost |
| Shelter | $14 |
| State Farm | $18 |
| USAA | $11 |
| Safeco | $12 |
| AAA | $20 |
Best Renters Insurance Companies In Springfield
While USAA is a fine company, the cheapest alternative is not always the best. I believe State Farm is the best overall option for renters insurance in Springfield.
| Company | Average Monthly Cost |
| American Family | $34 |
| Nationwide | $29 |
| Farmers | $31 |
| State Farm | $18 |
| Lemonade | $25 |
Average Cost Of Renters Insurance In Springfield
The average cost of renters insurance in Springfield is approximately $24 per month or $288 annually. However, individual premiums can vary based on factors such as the coverage amount, location, deductible, and the provider’s pricing structure. This is the average cost for five top-tier companies in Springfield:
| Company | Average Monthly Cost |
| State Farm | $21 |
| USAA | $14 |
| American Family | $35 |
| Lemonade | $28 |
| AAA | $22 |
Average Cost Of Renters Insurance In Springfield By Deductible
A deductible is the amount you pay out of pocket before your renters insurance covers the rest of a claim. Choosing a higher deductible typically lowers your monthly premium, while a lower deductible increases it. This table shows average costs based on different deductible amounts in Springfield:
| Deductible Amount | Average Monthly Cost |
| $250 | $24 |
| $500 | $23 |
| $1,000 | $21 |
| $1,500 | $19 |
| $2,000 | $17 |
Factors That Impact Renters Insurance Costs In Springfield
Several factors influence the cost of renters insurance in Springfield. One primary factor is location. Living in areas with higher crime rates or increased risk of natural disasters, such as flooding, can raise premiums.
Another significant factor is the coverage amount. Policies with higher limits for personal property and liability coverage naturally cost more. Similarly, adding optional coverages, like identity theft protection or replacement cost coverage, increases premiums.
The deductible also plays a role. Policies with lower deductibles lead to higher premiums, as the insurance company assumes more financial risk.
Credit score is another consideration, as insurers often use it to assess financial responsibility. A lower credit score can result in higher premiums.
The presence of safety features in your home, such as smoke detectors, burglar alarms, or sprinkler systems, may reduce costs by lowering the risk of claims.
Finally, claim history can impact costs. Frequent past claims suggest higher risk, leading to increased premiums.
Common Causes of Loss in Springfield
Several factors contribute to renters insurance claims in Springfield, with some of the most common causes including fire, water damage, and theft.
Fire is a leading cause of loss for renters, especially in apartments with multiple units. A fire can quickly spread, damaging both your property and the building, leading to extensive claims. Renters insurance helps cover the repair or replacement of personal belongings lost in a fire.
Natural disasters like tornadoes and severe thunderstorms are common in many parts of Springfield. Having renters insurance protects our property from damage caused by such natural disasters.
Wildfires pose significant threats and concerns for renters in the area; most standard renters insurance policies don’t cover damages caused by wildfires. So, having a separate wildfire coverage would be the wise choice.
Water damage from burst pipes, leaking roofs, or plumbing issues is another frequent cause of loss. While renters insurance typically covers water damage from internal sources, it does not cover flood damage, which requires a separate policy.
Theft also remains a significant concern in Missouri, especially in urban areas like Springfield. Renters insurance can help replace stolen property and provide liability coverage if someone is injured during a break-in.
Other potential causes of loss include vandalism, natural disasters, and accidental damage, all of which are typically covered under standard renters insurance policies.
Our Methodology
To evaluate renters insurance providers, we analyzed various factors including cost, coverage options, customer service, and claim handling. We reviewed quotes from multiple insurers in Springfield, focusing on average premiums for standard policies with $20,000 in personal property coverage and $100,000 in liability protection.
Our rankings also considered deductible options, additional coverage options (e.g., flood or earthquake insurance), and discounts available for bundling with auto or other policies. We reviewed customer satisfaction through independent ratings from agencies like J.D. Power and Consumer Reports, ensuring our list of recommendations reflects companies with strong reputations for customer service and claims processing.
We also took into account state-specific factors, such as the prevalence of certain risks in Springfield, including theft and water damage, which can significantly impact a renter's insurance needs. By considering all these factors, we provide an unbiased and comprehensive guide to renters insurance in Springfield.
About Bob Phillips
