The best companies for renters' insurance offer reasonable rates, comprehensive coverage, and reliable customer service. The best renters insurance companies are quick and simple to work with.
We recommend Lemonade State Farm and Farmers to tenants who are looking for convenience and value. Each company has apps that allow you to quickly get an insurance quote and apply.
You can also get a small discount for getting an estimate in advance, enrolling in paperless billing, or signing up for auto-pay. And they're a good place to start if you want to bundle your renters policy with other types of insurance, such as car, home or umbrella policies.
A renters' insurance policy covers your personal possessions and will protect you from liability if anyone is injured on the property. The policy will pay for the replacement of your possessions, up to its limits, if they're stolen or damaged.
Optional add-ons may be available if your jewelry or collection is expensive. Some companies offer coverage for additional living expenses or loss of usage if you have to leave your apartment because of a covered peril.
Renter's insurance can be purchased from many companies. Some of the most well-known are State Farm, MetLife or Farmers. Renters can hesitate to switch from the insurance provided by their landlord to a different company due to potential inconvenience. But it is a good option to explore.
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.
When evaluating the policies of a company, you should also look at their complaint ratio. This is a measure that compares how many complaints a company receives to its size. It's important to consider the complaints when choosing your insurance provider. They can give you a sense of how financially stable they are.
Some insurance firms are better at processing claims than others. It's possible that a company that receives a large number of complaints will be less likely pay out on time.
Look at the ease of filing a claim, and how many ways there are to do so. 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.
Ask the company if they offer renters insurance in areas that are prone to flooding if you live there. It's an added benefit that you may not be able get anywhere else. It could also save you significant money on premiums.
Some insurers offer a deductible which is decreasing. You will be able to reduce your deductible each year, as long as your premiums are paid. This can be a very important benefit, especially for people with poor credit or those who are worried about the safety of their home.