Allstate Renters Insurance Review: Cost, Coverage, and More (2024)
Allstate offers some of the most affordable renters insurance rates on the market, particularly if you bundle your coverage. But customer reviews lean negative.
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Written byMiranda Marquit
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Co-hosts the Money Talks News podcast
MBA from Utah State University
Miranda is a financial writer and avid podcaster with nearly two decades of experience contributing to major outlets, including Forbes, The Hill, and NPR.
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Edited byChris Schafer
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15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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Updated October 25, 2024
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Table of contents
Founded in 1931, Allstate is one of the nation’s largest publicly held insurers. It offers various insurance products and financial services, including renters insurance. People know Allstate for its strong geographic reach in the insurance market, so there’s a good chance you can find a renters policy through a local agent.
Renters insurance helps you replace your personal belongings if a covered peril damages or destroys them. It’s important to note your landlord isn’t responsible for your personal items if a natural disaster, theft, or vandalism harms them. Additionally, if someone sustains an injury while visiting your home, they could sue you. Personal liability coverage through renters insurance can protect you.[1]
Before you decide on a policy, it’s important to shop around, compare insurance companies, and choose one that meets your needs at a price you can afford.
Here’s what you should know about Allstate renters insurance so you can make an informed decision about whether it meets your needs.
Quick Facts
Allstate offers plenty of coverage options at a cost below the national average for renters policies.
AM Best gives Allstate a financial strength rating of A+ (Superior). Allstate has high financial stability and is solvent enough to pay claims.
You can receive discounts from Allstate for bundling your renters coverage with auto insurance and signing up for its Easy Pay Plan.
Insurify’s take on Allstate renters insurance
Allstate is available in all 50 U.S. states. It offers a monthly premium cheaper than the national average for renters insurance policies and compares favorably to other top-rated renters insurance companies. Allstate averages about $17 per month for personal belongings coverage of $30,000 and $100,000 for liability coverage. This puts it in the middle of other insurers that have rates between $14 and $31 per month for the same coverage.
Allstate also offers a few discounts, including discounts for bundling your policy with auto or life insurance. Renters older than 55 can also get a discount by signing up for the company’s Easy Pay Plan.
In addition to standard renters insurance coverage, you can also choose add-ons. If you have expensive jewelry or live in an area prone to flooding, you can add special coverage to your standard renters policy.
But customer reviews are relatively poor. The company rated below average in the J.D. Power 2024 U.S. Home Insurance Study, which includes renters insurance. The National Association of Insurance Commissioners (NAIC) says Allstate receives an above-average number of complaints for homeowners insurance for a company of its size.
Pros
Widely available renters policies
Discounts for bundling and monthly premium payments
Additional coverage available for valuables and identity theft restoration
Cons
Relatively high number of customer complaints
Customers complain about difficulty in claims approval
Other insurers have cheaper policies
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4.8/5 (3,806+ reviews)
What Allstate renters insurance covers
Allstate offers the following four coverages as part of its standard renters policy:[2]
Property damage to cover the loss of personal belongings due to fire, vandalism, and water damage due to plumbing issues
Reimbursed living expenses coverage if you need a temporary place to live while your rental undergoes repairs; this includes a stipend to buy food
Liability protection in the event someone sues you after suffering an injury while at your place
Medical coverage for guests who sustain an injury in your home
An umbrella policy can provide additional coverage for valuable items and increased liability coverage. It can also provide identity theft restoration and flood coverage.
Important Information
As with many homeowners insurance policies, a standard renters insurance policy doesn’t usually cover damage from outside water sources, such as flooding and hurricanes.[3] You might also have difficulty if you use your rental for business purposes.
Cost of Allstate renters insurance
The national average cost of renters insurance is $19 per month for $30,000 in personal property coverage and $100,000 in personal liability coverage. Allstate’s average base rate is $17 per month.
Your cost will depend on several factors, including your ZIP code, how much coverage you need, and whether you have special coverage requirements and qualify for discounts.
Allstate renters insurance discounts
Renters can save when they qualify for discounts. Allstate offers these common potential price reductions:
Adding renters insurance to an auto policy for as little as $4 per month
Savings of up to 25% are available for retirees older than 55
Scheduling a monthly payment with the Easy Pay Plan
Allstate reviews: What real customers are saying
In the J.D. Power 2024 U.S. Home Insurance Study, which includes renters insurance, Allstate scored 631 out of 1,000. This puts it below average compared to competitors like State Farm and Erie Insurance.
Allstate scores a 1.41 on the NAIC complaint index for homeowners insurance, with anything above 1 being above average. This means Allstate receives more complaints than expected for a company of its size.
On Trustpilot, Allstate has 1.2 out of 5 stars. Allstate has more than 1,300 customer reviews on the Better Business Bureau website, with 1.12 stars out of 5. Most customer service complaints relate to claims payout.
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But other customers have been happy with Allstate:)
How to buy an Allstate renters insurance policy
You can get free quotes on renters insurance online, by calling 1 (866) 470-0234, or visiting a local agent. Before pursuing quotes, it’s a good idea to:
Gather your personal information, including your name, address where you want coverage, birth date, and Social Security number.
Review information about the address you want covered. This includes site safety features like fire extinguishers and burglar alarms.
Decide how much coverage you want. Consider bundling your coverage with another policy, such as auto insurance.
Submit your application and wait for approval.
Once approved, sign the paperwork. Arrange to make premium payments from your bank account or some other method. You can usually choose to make payments monthly or annually.
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How to file a renters insurance claim with Allstate
If you need to file a renters insurance claim, follow these steps:
Document the damage, and list the items that need replacing.
Use the Allstate website to log into your account or open the mobile app to begin the claims process.
Allstate will review your photos and list to complete a damage assessment.
Receive payment for covered damages.
If you have a local agent, they can help you navigate the process and receive compensation up to your coverage limits.
Allstate renters insurance FAQs
As you research Allstate Insurance Company, compare online quotes with other insurers to find the best deal. Here are some common questions to consider.
Is Allstate reputable?
Allstate is a longstanding company with a superior AM Best financial strength rating. Even though Allstate is a legitimate company, it has many customer complaints and negative reviews.
How much does Allstate renters insurance cost?
A policy with $30,000 of personal belongings coverage and $1000,000 of liability coverage costs about $17 per month, according to Insurify data. But you might get a cheaper rate by bundling with other policies.
How do you cancel your Allstate renters insurance?
To cancel your renters insurance, you must contact Allstate. Visit a local agent or call customer service at 1 (800) 726-6033.
Is Allstate renters insurance cheaper than GEICO?
It depends on a number of factors, including what discounts you qualify for. GEICO says its insurance costs as little as $12 per month, while Allstate averages $17. But you can add Allstate renters coverage for as little as $4 per month if you bundle it with an auto policy.
Is renters insurance really worth it?
Your landlord might require proof of renters insurance. In that case, you must buy a renters policy in order to move into your rental. Even if they don’t require you to purchase coverage, it may still be worth it if you’re worried about the cost of replacing your personal belongings.
Sources
- Insurance Information Institute. "Renters Insurance."
- Allstate. "What renters insurance covers."
- Insurance Information Institute. "Spotlight on: Flood insurance."
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Miranda Marquit Insurance Writer
Miranda Marquit, MBA, is a freelance financial writer covering various markets and topics since 2006. She has contributed to numerous media outlets, including Forbes, TIME, The Hill, NPR, HuffPost, Yahoo! Money, and more. Her work has been syndicated by MSN Money, Marketwatch, Credit.com, and other publications. She has written about insurance topics for Clearsurance, HealthCare.com, and various other websites. She is also an avid podcaster and co-hosts the Money Talks News podcast. Miranda has a Master’s Degree in Journalism from Syracuse University. Connect with her on LinkedIn.
15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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