Renters insurance is available from many companies. They offer competitive rates, practical 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. There are apps for each company that help you get a quick quote and to apply for insurance.
They also have small discounts for getting a quote in advance, paperless billing or enrolling in auto-pay. It's also a good start if your goal is to bundle other insurance policies with your renters coverage, such as auto, home and umbrella.
Renters Insurance will protect all your belongings, and you are protected against any liability that may arise if an accident occurs on your property. You can also replace your belongings up to their policy limits if you lose or damage them.
Optional add-ons may be available if your jewelry or collection is expensive. 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.
Renter's insurance can be purchased from many companies. Some of the most well-known are State Farm, MetLife or 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.
The amount of liability and the types of damages that you might be required to pay should a lawsuit proceed are important factors to consider. You can compare the quotes of several insurance companies to see which company offers the lowest rates for the coverage level you require.
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. When shopping for coverage, you should consider complaints as they can indicate if an insurer is financially sound.
Some insurance firms are better at processing claims than others. A company with a lot of complaints is less likely to be able to pay claims in a timely manner.
Look at the ease of filing a claim, and how many ways there are to do so. Some insurance companies are more likely than others to send a claims adjustor or to visit you at home, while some allow you file a complaint online or through a mobile app.
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 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 very beneficial, especially if your credit rating is low or you're concerned about the security and safety of your home.