GEICO has been providing affordable insurance policies since 1936. Although they started with auto insurance, policy offerings have expanded to cover homeowners, businesses, and renters.
Rental insurance policies help protect your belongings and finances after certain covered events in your home. With premiums as low as $12/month, GEICO’s rental insurance policies can be an easy way to guard your finances as a renter.
While premiums are low, they do come at a cost. GEICO partners with other companies to underwrite rental insurance policies. Even though you can still save with bundling discounts, the hurdles of dealing with a third party cause many customers confusion and frustration.
Finding an affordable renters insurance policy doesn’t have to be a daunting task. Insurify helps you save money on insurance premiums, from auto to home coverage. You can compare quotes based on your unique profile with Insurify today!
GEICO Renters Insurance Quotes
Geico renters insurance policies can cost as little as $12/month. Just don’t let a low price be the only thing you consider. What’s covered in your policy is just as important as how much you pay.
When applying for a quote, be sure to take into account the cash value of anything that can be covered. What would you need to replace if your building burned down? These are the costs renters insurance is designed to cover.
How to Get a Quote for GEICO Renters Insurance
It’s easy to get a quote on GEICO’s website. All you need is your zip code and cash value estimate for your property.
If you’re not sure how much your property is worth, you can estimate the total value using GEICO’s Personal Property Calculator. This breaks down and totals common types of property that can be covered with renters insurance.
Coverage can help pay for the replacement costs of things like:
- Living expenses
Discounts Available for GEICO Renters Insurance
If you already have an auto policy with GEICO or are thinking about getting one soon, you could qualify for a multi-policy discount. Bundling these two types of insurance can help you save money on your premium.
Protecting your home can also land you a discount. Having a secure apartment with an alarm system or security staff on-site adds a layer of protection against thieves and vandalism. For fire protection, make a note of any sprinklers, fire alarms, and fire extinguishers you keep on site.
GEICO Renters Insurance Reviews: Here’s what people are saying…
GEICO renters insurance is easy to apply for. Merely logging on to the website and entering a few details can get you a quote in minutes. Happy customers appreciate just how easy the whole process is:
However, GEICO can’t control the service provided by its partners for rental insurance. This distributed structure leaves many customers frustrated. Assurant came up over and over in reviews as a partner company to avoid, due to delays in processing cancellations and poor customer service.
GEICO Renters Insurance Coverages
Renters insurance is sometimes required by landlords. Even if you can technically get by without, it’s worth looking into a policy. Remember that your landlord’s insurance covers your building, but not anything inside your unit.
GEICO renters insurance policies typically include a standard set of coverages. Just keep in mind that limits and actual coverages can vary depending on which partner company underwrites your policy.
Personal property: Rental insurance policies are very specific when it comes to what kinds of events are covered. Here are some common events you could be compensated for:
- Smoke Damage
- Water damage (from sewage backup)
Personal property coverage helps pay for the cash value of lost or damaged items following a covered event.
Personal liability: When someone gets hurt on your property, a court could deem that it was due to your negligence. Personal liability insurance helps cover costs owed to an injured party, as well as associated legal fees.
Medical payments: You can help cover the costs of medical treatment when someone gets hurt on your property. Even if you’re not legally liable, this helps cover related medical expenses.
Loss of use: Even if you lose access to your covered property, you still need a place to stay. Loss of use coverage helps you pay for living expenses when you have to leave your rental.
Other Insurance Products Offered by GEICO
GEICO’s insurance products range to cover many aspects of your personal life, and can even help businesses too. Check out some of the other insurance offerings through GEICO.
- Vehicle Insurance: This includes GEICO auto insurance policies, as well as options for other vehicles like motorcycles, ATVs, mobile homes, collector automobiles, and rideshare vehicles. Thinking about both auto and renters insurance? You can save with a bundling discount when you purchase both with GEICO.
- Homeowners Insurance: Renters aren’t the only ones who can take advantage of GEICO’s offerings. Those who own homes, condos, or mobile homes, as well as landlords, can get property coverage through GEICO home insurance.
- Business Insurance: Business insurance policies typically cover general and professional liability coverage, as well as workers’ compensation.
- Life Insurance: Term life insurance helps protect your family and dependents in case you die. There are a variety of terms and limits available, depending on your needs and circumstances.
How to Cancel GEICO Renters Insurance
GEICO offers renters insurance policies through partnerships with other companies. When you sign up for a policy, GEICO assigns a carrier to you. You can find this information by logging into your online portal, mobile app, or by reviewing your policy paperwork.
Whether you’re moving or just switching policies, you’ll need to get in touch with your managing insurer to cancel your policy. Each company has its own cancellation process to follow, so check your policy paperwork or the GEICO website for the appropriate contact information.
Certain companies can be harder to get in touch with, so make sure you plan ahead if you’re thinking about making a switch.
GEICO Renters Insurance FAQ
How much does GEICO renters insurance cost?
GEICO Renters Insurance can cost as little as $12/month, but the cost of your premium depends largely on the type of coverage you go for. The value of your personal property you wish to cover, add on coverages and endorsements, and even where you live, can all impact the cost of your premium. To get a quote, just visit the GEICO website and enter the required information. You only need your zip code and estimated cash value of your property to get started.
What does GEICO renters insurance cover?
Exact coverage can vary based on your property and the company that manages your renters insurance policy. That being said, common coverages include personal liability, personal property, loss of use, and medical payments.
How can I cancel my GEICO renters insurance?
Since rental insurance policies are managed by third-party companies, cancellations aren’t handled directly by GEICO. To cancel your policy, get in touch with the underwriting company directly. Customer reviews mention that this can be a lengthy process, so be sure to plan ahead.
Conclusion: How to Save on Insurance Costs
GEICO has over 70 years of experience offering insurance products. But, renters should keep in mind that rental insurance policies are managed by partner companies, not GEICO. Sometimes this means that the customer service quality takes a hit, depending on which company your policy is managed by.
That’s not to say there’s no value to be found with GEICO renters insurance. Discounts for bundling, securing your home, and fire safety can help reduce the cost of your premium. And some policyholders appreciate the easy onboarding through the GEICO website.
Don’t settle for the first renters insurance policy you come across. Compare quotes from various companies, as you can do with home and auto on Insurify. Insurify does the hard work for you, comparing policy options based on your unique needs.
GEICO Renters Insurance Contact Information
|Customer service phone number||1 (800) 241-8098|
|Customer Service Email||Online form via www.geico.com/contact-us/email/|
|Headquarters address||5260 Western Avenue, Chevy Chase, MD 20815|
|Claims service phone number||Varies by partner. Find your agency by visiting https://www.geico.com/claims/claimsprocess/partner-claims-contacts/|