Renters’ insurance should be thoroughly considered by everyone who leases an apartment, condo, townhome, or another form of dwelling. A tenant’s personal property is covered by renters insurance if it is damaged or destroyed as a result of a break-in, a storm, or another incident defined in the policy. In addition, renters insurance covers personal liability and medical expenses if a visitor is injured while visiting. Finally, if you have to leave your apartment due to a fire or other catastrophic incident, renters insurance will pay your additional living expenses, such as hotel fees and out-of-pocket expenses.
Renters’ insurance should be thoroughly considered by anyone who leases an apartment, condo, townhome, or any other form of dwelling. Renters’ insurance protects a tenant’s belongings in the event of a break-in, a storm, or another covered disaster. Renters’ insurance also covers personal liability and medical expenses if a visitor is hurt while visiting. Finally, if you have to leave your apartment due to a fire or other disaster, renters insurance will pay your additional living expenditures, such as hotel bills and out-of-pocket expenses.
- Lemonade
Lemonade is a user-friendly digital platform that provides affordable coverage. Lemonade isn’t available in every state, but when it is, it has a good reputation for customer service.
2. Renters Insurance in Erie
Only 12 states and Washington, D.C. are served by Erie. It won’t appeal to everyone, but it has a high reputation for customer service and claims to be successful in the areas where it operates.
3. Allstate
Allstate is a large national company with excellent customer service, but its insurance rates aren’t always the most affordable.
4. Farmers Insurance
Pros -Customer satisfaction gets high marks.
Discounts for purchasing multiple items are possible.
Cons
Renters’ insurance isn’t inexpensive.
Farmers are ranked sixth in J.D. Power’s renter’s insurance customer satisfaction study, yet it isn’t always the most affordable alternative, like Allstate.
5. USAA
Pros
Customer satisfaction scores are excellent.
Other types of insurance, such as cars and homeowners, are also highly rated.
Cons
Quotes are not available on the internet.
Only military and veterans are eligible.
If you’re a member of the military or a veteran, USAA is a viable alternative. The only product available to non-military consumers is life insurance.
State-by-state average annual renter’s insurance premiums
The cost of renters insurance, like that of homeowners and auto insurance, varies by state. The amount you pay in premiums is heavily influenced by where you live. According to the Insurance Information Institute, the average annual premium for renters insurance varies by state.
What criteria did we use to select the best renters insurance companies?
The finest renters insurance provider is one that provides the most coverage for the lowest price. We also look for companies with a good customer service reputation. Insider gathered information from various renters insurance firms based on customer service and premium pricing, when accessible. The top five were then decided. Insider acquired sample renters insurance quotes for a two-bedroom, one-bathroom property with a smoke detector and no pets with two residents in Philadelphia, Pennsylvania, to see how much plans normally cost.
