Table of Contents Toggle Why Renters Insurance is ImportantBenefits of Renters Insurance:Types of Renters Insurance Policies1. Actual Cash Value (ACV)Advantages:Disadvantages:2. Replacement CostAdvantages:Disadvantages:3. Liability-Only CoverageAdvantages:Disadvantages:Factors to Consider When Choosing Renters Insurance1. Coverage Amount2. Deductible3. Liability Protection4. Additional Coverage for High-Value Items5. DiscountsAffordable Renters Insurance Providers1. Lemonade InsuranceBest For:2. State FarmBest For:3. GeicoBest For:4. ProgressiveBest For:5. AllstateBest