The best renters insurers offer affordable rates and coverage that is practical, along with dependable service. They are also quick and easy to get a policy.
Lemonade State Farm and Farmers, are the three companies recommended for tenants who want the most convenience and best value. Each company has apps that allow you to quickly get an insurance quote and apply.
They also have small discounts for getting a quote in advance, paperless billing or enrolling in auto-pay. You can also bundle your renters insurance with other policies such as home, car or umbrella.
Renters insurance will protect your possessions as well as your liability in the event that someone gets injured on your property. The policy will pay for the replacement of your possessions, up to its limits, if they're stolen or damaged.
You may be able to add optional coverage if you own expensive jewelry or collectibles. Some companies also provide coverage for loss of use or additional living expenses if you are displaced from your apartment due to a covered peril.
You can find a wide range of rental insurance companies, including big names that have been in business for years such as State Farm, MetLife and Farmers. It is understandable that some renters would be hesitant to switch insurance companies because they are concerned about the inconvenience. However, it can be a worthwhile option.
What is most important is to determine how much liability you'll need, as well as what damages you could have to pay out if there was a claim. Compare quotes from different insurance companies to find the best deal for your level of protection.
You should also consider the complaint ratio of an insurance company when evaluating their renters policies. This is a comparison of their number of complaints to their 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 companies have better claims handling skills 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.
You should also consider how easy it will be to file a claim. There are many different options. 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. This might be something you cannot get anywhere else, but it could save you a considerable amount of money.
Some insurance providers offer a diminishing deductible. It means that your deductible is reduced every year, so long as you keep paying your premium. This can be very beneficial, especially if your credit rating is low or you're concerned about the security and safety of your home.