Updated April 13, 2022
Reading time: 7 minutes
Based in Miami, the well-known insurance company Assurant, Inc. has been in business for more than 125 years, offering renters insurance policies in all 50 states.
Assurant is a financially stable company, receiving an A (excellent) rating from A.M. Best. However, its customer service seems to be hit or miss. Mixed reviews show a wide variety of customer service and claims processing experiences.
Assurant offers several different renters coverage options, meaning that there’s plenty of room for customers to customize their policies to get the rates and level of coverage they need. You can select personal liability and property limits based on your personal needs and budget.
Assurant also offers a very low deductible of just $100 if you don’t mind paying a bit more for your premium —but you can also go with the more common deductible choices of $250 or $500 as well.
You might be happy with your online quote from a single provider, but it’s still a good idea to compare quotes with other companies. You never know what discounts or deals you could qualify for! Insurify helps you get the best rate on your car, homeowners, or life insurance by comparing real quotes in real-time, personalized just for you.
Here are the basics on Assurant renters insurance: what it covers, where it operates, how much it costs, and how to get a quote today.
Assurant renters insurance spans three main coverage types: personal property coverage, liability coverage, and loss of use coverage. Let’s break those down.
Personal property coverage acts like a kind of umbrella warranty, protecting your personal property both inside and away from your condominium, apartment, or rental home. Personal property coverage insulates you from costs associated with replacing or fixing personal property after accidents, theft, vandalism, or weather-related incidents. Personal property includes items like musical instruments, jewelry, furniture, and other personal items.
Liability insurance coverage means that if a guest injures themselves or damages property in your rental property, Assurant will foot the bill for potential medical payments or replacement costs. For example, if a guest without health insurance trips and falls and breaks a bone in your apartment, filing an insurance claim with Assurant may result in your liability coverage covering their medical expenses.
Loss of use coverage means that Assurant will pay for your additional living expenses if you need to leave your home and temporarily live elsewhere due to an insured accident or property damage.
An Assurant renters insurance policy provides insurance coverage in exchange for a monthly premium. If a renter files a claim with Assurant, they’ll also need to pay a deductible ––a certain out-of-pocket amount determined when you first accept your renters policy. For example, if your $2000 oboe was stolen from your apartment and your renters deductible is $500, you’ll need to pay the first $500 after filing a claim, and Assurant underwriters will cover the remaining $1500.
It’s important to note that there are coverage limits to most renters insurance policies: depending on which policy you choose, Assurant will only cover your financial losses up to a certain threshold, such as $20,000 or $30,000.
Additionally, like most renters insurance companies, Assurant renters insurance coverage does not cover property damage to your apartment or building from misfortunes like vandalism or malicious mischief, or weather events like floods, fires, or windstorms. Because your landlord owns the building that you rent, their own flood insurance or homeowners insurance should cover these potential incidents.
Assurant does offer optional add-on coverage options for specific events not covered in their general policy, like pet damage, sewer backup, or identity fraud / identity theft.
Renters insurance is already affordable when compared to comparable products like home insurance. Even so, Assurant offers a few renters insurance discounts on top of already low rates.
GEICO auto insurance members can snag a small discount by bundling their auto policy with an Assurant renters plan: Assurant is a GEICO partner.
In some communities, Assurant offers an inexpensive, bare-bones liability only policy that covers only property damage liability and personal liability, for customers interested in less-expensive coverage. (For example, replacing your cabinets after a grease fire or medical bills for a guest bitten by your dog would still be covered by this policy.)
You can also save money by paying for your coverage up-front. Assurant gives you the flexibility to pay monthly, quarterly, or annually. The more frequently you pay, the higher your premium. Annual payments are the most affordable overall, and are also not subject to the $5 billing fee that’s tacked on to other payment transactions.
Assurant provides renters insurance coverage in all 50 U.S. states, as well as in Washington D.C. If you’re looking for a renters insurance provider that is well-established and widely available nationwide, Assurant may be the company for you.
|BBB (Better Business Bureau)||A+ (Rating) 1.05/5 (Customer Score)|
While some Assurant ’s renters insurance customer reviews are positive, many mention poor customer service and a long wait for resolution of claims. Two positive Assurant renters insurance reviews featured on the company’s website commend the company for positive customer service experiences.
“I received the entire amount that I was entitled to PLUS I was reimbursed the $10 I had to pay to obtain the police report (which I was not expecting)”, one customer writes. Another praises their Assurant agent, writing that “My agent worked with me. Nicole sent emails and called. She was Very [sic] patient with me during this difficult time.”
Still, the company does receive a relatively low 1.05/5 customer review rating from the BBB. The vast majority of customer reviews are also negative in tone on ConsumerAffairs, a verified customer review website. Frank of Rancho Cucamonga, California and Catanza of Hermanville, Mississippi both report difficulty getting in touch with claims adjusters, a complaint that was widespread among many other customer reviews from states like Georgia and New York.
“On 11/2/2020 I went online and started a claim”, Frank wrote in his review of the company. “They stated an agent would be in contact within two days (first lie). I had to called them [sic] and left a message on a voicemail. I got a call back on a Monday and the agent left a voicemail. I called back and left another message. Didn’t hear anything for two weeks. Then on 11/16/2020 I get a call from the number that the agent called me from so I answered it and she just hung up on me.” Catanza describes a similar experience in her review, writing that “I was never contacted by the adjuster and he never returned my calls”
Assurant doesn’t advertise a minimum renters insurance cost. But for a single woman living in an apartment in New York City choosing Assurant ’s recommended deductible and coverage limits––$250 and $100,000, respectively–– Assurant produced an average renters insurance rate of $9.50. That’s a far cry from the national average of $15 per month, and much less than the typical home insurance policy.
By contrast, Geico charges at least $12 per month for its policies, and Allstate charges an average premium of $15 per month. The actual price of your renters insurance premium will vary based on where you live, what add-ons you select, your deductible, and other factors.
To decide if Assurant renters insurance is right for you, take advantage of their phone hotline and website to speak to an Assurant agent and get a renters insurance quote. Then, compare your quote to those you receive from competitors like Allstate, Progressive, and State Farm.
Consider how much renters insurance coverage you’ll want or need, and whether you’re interested or eligible for discounts that might lower your rates, like Assurant ’s bundling discount available for GEICO auto insurance policyholders. Read up on customer reviews to learn whether you’d be a good fit for the insurer.
If Assurant is the least expensive option available in your state and you’re comfortable with their somewhat mixed customer service reviews, it may make sense to commit to a renters insurance policy with the company.
Just remember to shop around for better deals and discounts at least every six months, especially if you’ve made major life changes like getting married or substantially raising your credit score. Taking the time to periodically compare quotes and read online reviews can provide peace of mind and helps insure that you’re always choosing the best renters insurance plan possible for you.
Assurant’s renters insurance site is easy to navigate, and you can get a quote in less than 10 minutes with an online form. All you need to get started is your address and the value of your property to be covered on the policy.
If you’d rather speak with a live human, you can call the quote line at 1-866-720-3213.
You will need to answer some questions about your rental unit and your own insurance history. Here’s information that’ll be useful to have on hand before you log in or call:
The number of people that live in your apartment
Information about any business you run from your rental (like a daycare)
The value of your personal belongings
Safety features, like alarms or extra locks
Your insurance history
Even though Assurant does offer online policy management, you can only cancel your policy by calling the Customer Care department at 1 (800) 432-8612. It’s clear from the website that even if you cancel your policy early, you’ll receive a prorated refund for the remaining months. This is good news for subletters and those who frequently move, as Assurant ’s policies are only sold in one-year terms.
Here’s how you can get in touch with Assurant:
|Phone Number||General: 1-888-260-7736|
|Address||Assurant Global Specialty Operations|
PO Box 979220
Miami, FL 33197-9220
Whether or not you should buy Assurant renters insurance depends on a variety of factors, including your location, eligibility for various discounts, and coverage needs. Assurant Renters Insurance received an A financial institution grade from A.M. Best, but Assurant’s low BBB customer review score of 1.05/5 may give potential new customers pause.
Assurant offers a few specific discounts for renters insurance, including a bundling discount for GEICO car insurance policyholders and lower premiums for those who choose to pay quarterly or annually as opposed to monthly. Finally, Assurant offers a bare-bones liability-only policy in some communities for renters seeking minimum coverage for a lower cost.
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Mandie Kelleher is a freelance content writer for financial services and personal finance. With a background in financial administration, and teaching, she crafts content that deepens her readers' understanding by making complex topics simple. You can learn more about Mandie by visiting her site, mandiekelleher.com.Learn More