Best renters insurance in New York in 2026

If you rent, your landlord is responsible for maintaining the building's physical structure. But if you want to protect your personal belongings, renters insurance is critical.

That's especially true in New York City, where 69% of households are renters, according to the New York City Comptroller. Statewide, renters make up close to 46% of the population.

Peace of mind doesn't have to be expensive: A renters policy with $50,000 in coverage can cost less than $25 a month in the Empire State, according to the New York State Department of Financial Services.

CNBC Select has chosen the top renters insurance companies in New York, based on rates, discounts, add-ons and other criteria. (See our methodology for more information.)

Who's this for? Allstate's premiums start at just $5 per month and there's a bundling discount if you have an auto policy, too.

Standout benefits: Renters over 55 who aren't working full-time are eligible for a 25% discount.

Who's this for? If you need proof of insurance quickly, Lemonade approves renters in just a few minutes online.

Standout benefits: The digital-only insurer has an easy-to-use app and website and competitive pricing, with policies starting at just $5 per month.

Who's this for? If you own a car, New York Central Mutual (NYCM) offers a discount of up to 25% for bundling your renters policy with auto insurance.

Standout benefits: NYCM offers useful add-ons like identity fraud coverage, replacement cost coverage and personal injury coverage, which includes wrongful eviction, false arrest and slander. If you remain claims-free for five years, you may be eligible for a 2.5% discount.

Who's this for? If you plan to stay put for a while, State Farm's inflation protection benefit keeps your coverage from effectively shrinking as prices rise.

Standout benefits: Renters who own a car can save up to 17% by bundling their policy with State Farm auto insurance.

Who's this for? Nationwide is a great option if you need endorsements like increased protection for valuables and coverage for damage from identity theft, earthquakes and backed-up drains and sewers.

Standout benefits: The Brand New Belongings^® add-on reimburses the cost of replacing a damaged or stolen item with a new one.

In New York state, renters insurance costs an average of $25 per month for $50,000 worth of personal property protection, according to the New York State Department of Financial Services.

Nationwide, renters insurance averages about $21 per month, according to the Insurance Information Institute.

The amount you'll pay for coverage is largely based on:

• Your location: Renters in ZIP codes with higher crime rates may be charged more, as can people in areas prone to natural disasters.
• The size of your rental unit: The bigger your home, typically, the more it costs to cover.
• The value of your belongings: Adding more coverage to your policy could add to your costs. And, scheduling individual valuable items like jewelry or cameras could also up your cost.

Renters insurance covers personal belongings that are stolen or damaged in a fire or other covered event, in your home or elsewhere. Your policy can also include additional living expenses if you need to relocate while your home is repaired and cover your liability if you or a family member are responsible for damages or injuries to someone else.

• Personal property coverage: Covers cost to repair or replace personal belongings that are stolen or damaged in a covered event, either at home or away.
• Loss of use: Pays for food, accommodations and other additional living expenses if you need to relocate while your home is repaired after a covered event.
• Liability: Covers payments and legal costs If you or a family member is held responsible for damages to someone else, this coverage could help cover legal costs and damages.
• Medical payments: Pays medical bills if you accidentally injure someone in your rental unit or outside of your home.

Renters insurance typically doesn't include flood or earthquake damage. You'd need a separate policy to protect your belongings.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. To research the best insurance companies, we compiled over 100 data points on more than a dozen insurance companies. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

When narrowing down and selecting the best renters insurance companies in New York, we focused on rates, coverage options, discounts, processing time and other factors.

We incorporated average premium data from MarketWatch, as well as customer satisfaction data from the Better Business Bureau, the National Association of Insurance Commissioners (NAIC) and J.D Power's U.S. Home Insurance Study.

We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.

After reviewing these features, we filtered recommendations by the best for affordability, for speedy approval, for endorsements, for bundling with auto insurance and for longtime renters.

Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.