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.
We recommend Lemonade State Farm and Farmers to tenants who are looking for convenience and value. They each have apps that make it easier to get a quote and apply for insurance quickly and easily.
Also, they offer discounts for receiving a quote before you buy the policy, signing up to paperless billing and enrolling into auto-payment. If you're looking to bundle a renters policy along with other types, like home, auto, or umbrella insurance, they are a good starting point.
Renters insurance will protect your possessions as well as your liability in the event that someone gets injured on your property. If your possessions are damaged or stolen, the insurance will cover their replacement up to policy limits.
There may be optional add-ons for 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. 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 the rates of different insurance companies, and choose the one that offers the lowest rate for the amount of coverage needed.
The complaint ratio is another thing to consider when evaluating renters insurance policies. It's a measurement of how many complaints the company receives in relation 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 companies have better claims handling skills than others. If a company receives many complaints, it may be less likely than others to pay out their 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.
It's worth asking the company about renters coverage for flood-prone areas if you reside in one. You might not find this extra elsewhere, and you could save a lot of money.
Some insurance providers offer a diminishing deductible. As long as you pay your premium, your deductible will decrease every year. This is an important benefit, particularly if you have a low credit score or are concerned about your property's safety.