The best renters insurance companies offer affordable rates, practical coverage, and dependable customer service. They are also quick and easy to get a policy.
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.
Also, they offer discounts for receiving a quote before you buy the policy, signing up to paperless billing and enrolling into auto-payment. 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 covers your personal possessions and will protect you from liability if anyone is injured on the property. You can also replace your belongings up to their policy limits if you lose or damage them.
You may be able to add optional coverage if you own expensive jewelry or collectibles. Some companies cover the cost of additional living or lost use in case you lose your apartment as a result of a covered disaster.
There are many rental insurance companies to choose from, including some big names in the business such as State Farm and Farmers. Some renters may be reluctant to switch their insurance from the landlord to another provider because of potential inconveniences, but it's an option worth considering.
It is important to know how much liability coverage you need and what kind of damages you could be liable for if you have 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. 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 companies are better at handling claims than others. If there are many complaints against a particular company, this could be an indication that they may not pay out claims as quickly.
In addition, look at how easy it is to make a claim and how many different ways you can file your claims. Some companies will send an adjustor to your house or visit you, while others allow you to submit a claim via mobile app or online.
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 offer a decreasing deductible. As long as you pay your premium, your deductible will decrease every year. This can be very beneficial, especially if your credit rating is low or you're concerned about the security and safety of your home.