What are the Best Renters Insurance Companies? Anyone who rents a condo, townhome, apartment, or another type of dwelling, should consider getting renters insurance. Renters insurance helps to cover’s personal property if it is destroyed or damaged during a storm break-in or other events specified in the policy. Also, renters insurance helps to cover medical bills and personal liability if a guest in your home got injured and more.
If you are currently online and you are looking for the best renters insurance companies, you are quite lucky. Because we have done research from different top experts and articles and have got you covered. Keep reading to know about the top and best renters insurance companies and learn what set them apart from others.
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7 Best Renters Insurance Companies
In this section of the article are the top renters insurance companies right now. Check them out and get quotes from them;
USAA
USAA is available in all 50 states in the United States of America. However, it is only limited to members of the USA military whether they are retired or on duty, and their immediate family members. A standard policy from this insurance company helps to cover your personal belongings, and temporary living expenses if you cannot stay in your home due to a covered event. As well as medical bills and liability if someone got injured in your home. USAA standard policy covers flood but with cover your roommates.
State Farm
This is another renters insurance company. State Farm is a popular and established company that receives high remarks from customers and claims satisfaction. Based on the report from the Insurance Information Institute the average renters insurance costs $14.50 per month or $174 per year. However, according to Insurify, State Farm is priced at $10 per month which is cheaper and more affordable than the national average. But you need to know that the renters insurance will be based on different factors like your location.
Lemonade
If you are a first-time renter or college student for an incredible renters insurance policy that covers your basic and has an educational and simple sign up process, Lemonade is the guy for you. In addition to its user-friendly Smartphone app and website, this amazing company donates unused insurance money to different charity organizations. With the use of AI technology as part of its claim filing process, the Lemonade insurance company can process claims quicker than other competitors.
ERIE
ERIE insurance company offers comprehensive base renters insurance and various ways to save through safety equipment, multiple policies bundled policy, age-based discounts, and advanced quotes. Its based policy includes worldwide personal property coverage and additional liability protection against discrimination, slander, and cyberbullying.
This is a good addition to the living expenses coverage and standard medical payments. You can get renters insurance quotes from ERIE’s official website. But you will have to go through an insurance agent to purchase the policy. Just so you know, ERIE sells optional extra coverage like home sharing coverage, earthquake coverage, sewer and drain backup coverage, and flood insurance.
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Amica
Amica offers renters insurance in every state except Hawaii and Alaska. This stands out for how it got fewer consumer complaints it receives compared to its size. It also offers a friendly and easy-to-use website that allows people to get insurance quotes, pay bills, file claims, and track them anytime they want. With Amica, you can add other coverage to renters’ policies for electronics, jewelry, and other important valuables.
Also, you can sign up for the replacement cost coverage that gives you enough amount to purchase items if your belongings are stolen or damaged. It offers discounts to people who pay bills automatically, bundle car insurance with renters policies, sign up for paperless billing, stay with their insurer for at least two years or go for at least 3 years without filing a claim.
Geico
Geico offers a website and a Smartphone app that helps policyholders to stay connected to the company, easily manage any of their policies and get assistance quickly. Just like Amica, this company offers discounts for bundling. So, it is a good choice for renters who have another policy with the company. Although it uses underwriting companies and does not include any discounts other than bundling, it offers customers the best it can.
American Family
This popular Renter insurance company is based in Wisconsin and Madison. It offers renters insurance, homeowners insurance, and auto insurance along with life insurance and other incredible policies. It has agents in 19 states in the USA and serves the country through The General and Homesite, an affiliate. American Family offers different renters insurance add-ons like pet insurance, travel insurance, and coverage for identity theft and home businesses. This company has good customer reviews and claims customer satisfaction.
FAQs
Is Renters insurance worth it?
Yes, Renters insurance is worth it without any doubt. It is an impressive and affordable way to cover personal belongings. And don’t forget about its additional living expenses and liability insurance.
Who has the best car renters insurance?
In no particular order, here are the list of best car renters insurance company, USAA, State Farm, Nationwide, Allstate GEICO, Farmers, Progressive, and Erie.
How can I get Renters Insurance Quote Online?
It is very simple to get the quote online. You can easily do it in your comfort zone without talking to any human. Many insurance companies’ websites generally offer free quotes for people online. You may need to have basic information at hand, such as how much coverage you want and how much liability insurance you want.
Do I need renters insurance?
Just so you know, Renters insurance is not legally mandatory but your landlord may require it. Even if the landlord does not require coverage, it can be a very wise investment. The Average monthly cost for renters insurance is about $10 for $15,000 worth of personal belongings. For that 30 days, you get your personal belongings such as electronics, furniture, and clothing covered even if they are damaged such as in a fire or storm.
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