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Between 2013 and 2017, the average cost of a homeowners insurance claim due to damage from fire or lightning was over $68,000.
With such large potential liabilities resulting from damage to rental properties, it’s critical for landlords to purchase appropriate coverage for their investment property—even if their tenants have separate renters’ insurance.
To help landlords find the right coverage, we looked at 25 top national insurance carriers and brokerage firms before settling on the five best. We assessed insurers based on their availability, coverage, pricing options, and transparency to build our list of the best rental property insurance companies.
Best Rental Property Insurance Companies of 2023
Best Overall: State Farm
Best Claims Process: Liberty Mutual
Best Value: GEICO
Best for Military Servicemembers and Their Families: USAA
Best Brokerage Option: Trusted Choice