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.
Lemonade State Farm and Farmers is the company we recommend to tenants seeking the best value and convenience. The apps make it easy for tenants to obtain a quote or apply for coverage.
Also, they offer discounts for receiving a quote before you buy the policy, signing up to paperless billing and enrolling into auto-payment. And they're a good place to start if you want to bundle your renters policy with other types of insurance, such as car, home or umbrella policies.
Renters insurance will protect your possessions as well as your liability in the event that someone gets injured on your 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.
Renter's insurance can be purchased from many companies. Some of the most well-known are State Farm, MetLife or Farmers. Renters can hesitate to switch from the insurance provided by their landlord to a different company due to potential inconvenience. But it is a good option to explore.
You should consider the type of damage you may have to pay in case of a claim. You can compare the quotes of several insurance companies to see which company offers the lowest rates for the coverage level you require.
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. The number of complaints received by an insurance company can indicate its financial stability.
Some insurance companies handle claims better than others. It's possible that a company that receives a large number of complaints will be less likely pay out on time.
Look at the ease of filing a claim, and how many ways there are to do so. 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. It's an added benefit that you may not be able get anywhere else. It could also save you significant money on premiums.
Some insurance providers offer a declining deductible. This means you will reduce your deductible every year as long as you continue to pay your premium. This is an important benefit, particularly if you have a low credit score or are concerned about your property's safety.