Renters Insurance Comparison: Your Favorite Midwest Cities

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renters insurance comparison

Are you making the move to an apartment in one of the midwestern cities of Chicago, Milwaukee, Madison or Minneapolis? There are likely a lot of things going through your mind, but be sure to include renters insurance in your considerations. Renters insurance is helpful, especially in cities like these, to protect your personal belongings from perils ranging from theft, vandalism, fire or water damage. Read on to learn more about renters insurance in these cities.

What is Renters Insurance?

When you rent an apartment, your landlord will have insurance that covers the building you’re living in. A common misconception about insurance when you’re renting in an apartment is that you don’t need renters insurance if your landlord has insurance, but that’s not true! Renters insurance is much different from your landlord’s insurance because it covers your personal belongings if they’re damaged or need to be replaced because of a covered peril, and it also provides renters with liability coverage if an accident occurs in the apartment. Those things aren’t covered by the landlord’s insurance.

Renters Insurance in Chicago

Chicago is a major economic city with a lot to offer and many famous landmarks — think the Bean or Willis Tower. It’s no surprise that many people want to live in Chicago. With a population of over 2.7 million people, it’s the third most populous city in the United States after New York and Los Angeles. If you’re one of the many people choosing to call Chicago home, make sure you consider renters insurance.

With a large number of people living close together in the city, there is a higher possibility you could experience a peril in your apartment, such as a theft. Chicago experiences 89,294 incidences of property crime annually and the crime rate per 1,000 residents is 32.87.

Renters insurance can help protect your personal belongings while you rent an apartment in The Windy City. The average monthly cost of renters insurance in Illinois is $174, according to the Insurance Information Institute. Renters insurance might be slightly higher than that in the urban area of Chicago.

Top 5 Renters Insurance Companies in Illinois

The following renters insurance companies in Illinois are the highest rated in the state based on reviews and ratings on Clearsurance, the leading online publisher of consumer insurance data. Companies are rated based on policyholders’ overall experience with the insurance company, its service, their likelihood to renew and their likelihood to recommend the company to a friend.

  1. USAA (military only)
  2. Lemonade
  3. Erie
  4. The Hartford
  5. Travelers

Renters Insurance in Milwaukee

Milwaukee is the most populous city in Wisconsin, located along Lake Michigan. The city is well known for its breweries. In fact, that’s how the Milwaukee Brewers, the city’s Major League Baseball team, got its name. If you’ve found an apartment in Milwaukee, be sure to look into purchasing a renters insurance policy.

With nearly 600,000 people residing in Milwaukee, if you’ll be living in the city, it’s important you determine the need for renters insurance. The property crime in Milwaukee is at 23,131 incidences annually with a property crime rate of 38.85, which is higher than Chicago’s rate.

Renters Insurance in Madison

Madison is a much smaller city in Wisconsin than Milwaukee is with a population of more than 255,000 people. Madison is a historical city full of political activity. If you’re making the move to an apartment in Madison, consider purchasing a renters insurance policy.

Madison has a much lower property crime rate than Milwaukee, likely due to its smaller size. The number of property crimes in Madison is 7,095 annually while the property crime rate per 1,000 residents is 27.80. However, that doesn’t mean you should necessarily go without renters insurance. There are many things renters insurance can protect you from.

To ensure you’re protected from crime like theft, or other possible perils in your apartment like fire while you rent an apartment in Milwaukee or Madison, you can purchase renters insurance. According to the Insurance Information Institute, the average cost of renters insurance in Wisconsin is $132 per month, though the cost in Milwaukee or Madison could be slightly higher than that because they are large cities.

Top 5 Renters Insurance Companies in Wisconsin

The following companies are the highest rated renters insurance companies in Wisconsin according to consumers. The ratings of these companies are based on feedback submitted to Clearsurance by policyholders. Companies are rated based on policyholders’ overall experience with the insurance company, its service, their likelihood to renew and their likelihood to recommend the company to a friend.

  1. USAA (military only)
  2. Lemonade
  3. Erie
  4. The Hartford
  5. Travelers

Renters Insurance in Minneapolis

Minnesota is known as the land of 10,000 lakes and you can find 22 of those lakes in the city of Minneapolis. As the most populous city in Minnesota, more than 420,000 people call the city home. If you’re renting an apartment in Minneapolis, make sure you consider purchasing a renters insurance policy.

The property crime rate per 1,000 residents in Minneapolis is 47.66, which is on the higher side. The number of property crimes annually is 20,129. Renters insurance can give you peace of mind your personal belongings would be covered if you experienced a peril like vandalism or theft in your Minneapolis apartment.

Renters insurance is often considered one of the most affordable forms of insurance. The average cost of renters insurance in Minnesota is $144 per year. Be aware, though, that the cost of renters insurance in Minneapolis may be slightly higher than the state average since it is an urban area.

Top 5 Renters Insurance Companies in Minnesota

Below you can find the top five renters insurance companies in Minnesota based on consumer feedback. The following companies are reviewed and rated on Clearsurance by unbiased policyholders based on their overall experience with the insurance company, its service, their likelihood to renew and their likelihood to recommend the company to a friend.

  1. USAA (military only)
  2. The Hartford
  3. Travelers
  4. State Farm
  5. Geico

Moving into an apartment requires a lot of work and budgeting, but purchasing a renters insurance policy can provide you peace of mind and it can also seriously help you recover from an unexpected loss in your apartment. To see the most up to date ranking of the best insurance companies, visit Clearsurance’s best renters insurance rankings.