Allstate Renters Insurance: The Basics
Before Allstate pays your claim, you’ll need to pay a deductible. Your policy will also have coverage limits, so it’s likely that not all your personal belongings will be covered. You may need to add scheduled personal property coverage for things like fine jewelry or art.
What does Allstate renters insurance cover?
Like most renters insurance companies, Allstate covers personal property damage and theft, liability costs, and additional living expenses. When you sign up for an Allstate policy, you can choose whether you want coverage for your items’ actual cash value or the replacement cost.
If you choose the replacement cost (also known as a reimbursement provision), you’ll be covered up to the cost to replace the item, as long as it falls within your coverage limits. Allstate will first write you a check for the actual cash value of the item. Since most items depreciate in value, that’ll be less than what you paid for the item. Once you replace the item, Allstate will reimburse you for the remaining cost.
Allstate also provides family liability coverage, so if your child injures someone else or damages property while playing at a friend’s house, your legal fees may be covered. And the included guest medical protection will pay for medical expenses if someone is injured while visiting your property.
Special Deals and Discounts
Allstate offers the following discounts to policyholders:
Multi-policy discounts for bundling your renters insurance with your auto insurance
Safe home discount of up to 15 percent if your home is equipped with a security system or fire alarms
A payment discount of 5 percent for setting up automatic withdrawals
Retirement discount of up to 25 percent if you’re over 55, retired, and not actively seeking employment
Claim free discounts of up to 20 percent when you switch to Allstate and with no claims history
Where does Allstate offer renters insurance?
If you like to travel, you’re in luck: Allstate renters insurance is available for residents of all 50 states.
Allstate Renters Insurance Ratings
| Rating |
|---|
| J.D. Power | 841 (3rd place) |
|---|
| A.M. Best | A + (superior) |
|---|
| Better Business Bureau (BBB) | A+ |
|---|
Allstate Renters Insurance Customer Reviews
| Review |
|---|
| BBB | 1.2 out of 5 stars |
|---|
| Trustpilot | 1.6 out of 5 stars |
|---|
| Consumer Affairs | 3.9 out of 5 stars |
|---|
As with most insurance companies, customer reviews about the claims process at Allstate were mixed. Some long-term Allstate customers were pleased with the customer service, while others had complaints about Allstate’s unwillingness to pay certain claims. It’s important to note that these reviews cover all of Allstate’s insurance products, not just renters insurance.
Average Cost of Allstate Renters Insurance
Allstate renters insurance costs an average of $15 per month. That’s the national average cost of renters insurance, but some renters insurance companies offer cheaper rates. For example, Lemonade insurance policies start at just $5 per month, and GEICO policies start at $12 per month. Other insurance companies charge more, on the other hand. Travelers charges $17 per month on average.
Positives and Negatives of Allstate Renters Insurance
| Pros | Cons |
|---|
- Plenty of renters insurance discounts, including bundling discounts and retirement discounts
- Available in all 50 states
- Customizable policies with add-ons
- Great ratings from J.D. Power and A.M. Best
- Mobile app access
| - Not the cheapest rates in the industry
- Poor customer service reviews
|
|---|
Is Allstate renters insurance coverage right for me?
Allstate has plenty of coverage options to meet most people’s needs, including additional coverages like flood insurance and an available personal umbrella policy. But Allstate falls behind some other renters insurance providers in terms of insurance premium cost and customer satisfaction.
When comparing renters insurance quotes, you should first narrow down your options to companies that will provide the coverage you need. Next, compare costs across providers that are available in your state. You might find that Allstate is the most affordable option in your area when you factor in the discounts they offer.
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