The best renters insurance companies offer affordable rates, practical coverage, and dependable customer service. These companies make it easy and fast to get a renters policy.
Lemonade State Farm and Farmers Insurance are three companies that we recommend as the best for value and convenience. The apps make it easy for tenants to obtain a quote or apply for coverage.
You can also get a small discount for getting an estimate in advance, enrolling in paperless billing, or signing up for auto-pay. They're also a great place to begin if you are looking to bundle your policy with other insurance policies, like car, home, umbrella, or even paperless billing.
A renters insurance policy will cover your personal belongings and protect you against liability if someone is injured on your property. The policy will pay for the replacement of your possessions, up to its limits, if they're stolen or damaged.
It may also include optional add-ons that could be helpful if you have expensive jewelry or collectibles. Some insurance companies provide coverage for living expenses and loss of use in the event that you are forced to move out of your apartment by a covered catastrophe.
Rental insurance is available from a variety of companies. These include big names who have been around for many years, such as State Farm MetLife and Farmers. Although some renters hesitate to switch to another insurance company from their landlord because of the inconvenience it could cause, this is an option well worth considering.
You should consider the type of damage you may have to pay in case of a claim. Compare quotes from different insurance companies to find the best deal for your level of protection.
In addition to the number of complaints received, it is important to check out the complaint ratio. This measures how many complaints are made in comparison with their size. Complaints can be an indication of whether an insurer is financially stable, so it's a good idea to take them into account when shopping for your coverage.
Some insurance providers are better than others at dealing with claims. If a company has a high number of complaints, that's a sign that it might be less likely to pay out claims on time.
Also, consider the number of ways that you can make a complaint and the ease with which it can be done. Some insurers will visit your home to make a claim, or send an adjustor. Other companies let you submit a request online or by mobile phone.
If you live in a flood-prone area, it's worth asking if the company offers renters insurance for areas affected by flooding. This is an extra that you might not be able to get elsewhere and it might save you a significant amount of money on your premium.
Some insurance companies have a deductible that decreases over time. If you continue to pay for your insurance, you can reduce your deductible year after year. This is a great benefit for those with low credit scores or worried about their property's security.