QBE Renters Insurance: The Basics
Do you already buy your car insurance from a company called QBE? If so, you may want to look into QBE ’s renters insurance program, which is called FlexHome. But your landlord has to qualify, and you’ll have to call an independent insurance agent for a quote.
QBE is an insurance company based in Australia and has done business in the U.S. as QBE North America out of New York City since 1978. QBE insurance specializes in general insurance that tends to serve businesses, but the company also has insurance products for drivers, homeowners, and renters.
A disclaimer: We know very little about QBE ’s policies because their renters insurance is not widely available and pricing information is scarce. But the company advertises strong discounts for customers who also have auto insurance with QBE, and they say they’ll lower your premium the longer you go without making an insurance claim.
But you’ll have to hustle if you want renters insurance from QBE: only some landlords qualify, so you’ll have to check with yours before pursuing a policy. And to receive a quote, you’ll have to reach an independent QBE insurance agent, which QBE doesn’t help you locate online.
Still, QBE is a global insurance company with demonstrated financial strength that provides a strong slate of renters insurance coverage options. If you’re in a position to combine with car insurance, you could save money by taking advantage of their policy discount.
But beware: customer reviews are lukewarm at best, and the claims process and cancellation are especially notorious.
QBE Renters Insurance Coverages
According to QBE.com, renters insurance policies from QBE are typical of the renters insurance industry. If someone gets hurt on your property and you’re liable for the medical payments that result from bodily injury, you’ll be covered. Personal injury, like if you slip and fall in your kitchen, will be on your policy, too.
Alongside personal liability comes protection for your personal property: you can file an insurance claim if your furniture or other belongings are damaged, whether by a tree falling, pipes freezing, bed bugs, or water damage from sewer and sink overflow, among other covered calamities. Theft and vandalism are also covered property damage.
QBE renters also have up to $1,000 of coverage for credit card theft and other instances of financial fraud.
Alongside these standard elements of a renters insurance policy are some additional coverage options, which include extra coverage for high-value possessions, insurance tailored to college student residences as well as nursing homes, extra identity theft and libel protection, and a higher reimbursement rate for your things.
These additional policy provisions are available for an extra fee on top of your baseline renters insurance coverage. Keep in mind, QBE insurance is administered by independent agents around the country, so coverage, pricing, deductibles, and other elements of your policy will vary by state. And an insurance adjuster will ultimately determine the validity of your claim.
Special Deals and Discounts
Since QBE offers so many other policies, among them car insurance and life insurance, the surest way to get the highest value is to try for a policy discount by combining policies.
Additionally, QBE offers to lower your premium the longer you stay on your policy—as long as you file no insurance claims. So if you’re a cautious person who’s not too worried about asking your insurer for big claims, you could drive your rates down over time.
Where does QBE offer renters insurance?
Renters can get insurance from QBE everywhere in the United States except Alaska and Florida. But there’s another catch: it’s also only available in buildings owned by a select network of landlords. So before you look for QBE independent agents, ask your landlord if QBE renters insurance is an option for you.
QBE Renters Insurance Ratings
Founded in Queensland in northeast Australia in 1886, QBE is a conglomeration of long-standing insurance companies operating in 27 countries that together are worth billions. The company has been around a long time and has shown plenty of stability—but that could change.
A.M. Best gives QBE a rock-solid A rating for financial strength but notes that the company experienced an operating loss in 2020 and declining goodwill among customers. If it doesn’t quickly get back on track, its reputation could suffer.
The company earns a sterling A+ rating from the Better Business Bureau ( BBB ) for customer satisfaction, but QBE ’s customer complaints on BBB, which don’t factor into its A+ rating, reflect a high rate of complaints. And QBE home insurance reviews from elsewhere on the web corroborate this ratio.
QBE Renters Insurance Customer Reviews
It’s easy to find negative home insurance and renters insurance reviews online, and QBE is no exception. But often, the upside to bad customer service is a low price, and given how little we know about QBE ’s pricing, there’s no promising the trade-off is worth it.
Customers have particular qualms about the claims process as well as the value for money on their policy. “Overpriced renters insurance and I am constantly having issues with them. I’m STILL paying for a property I no longer live at. This shouldn’t be this difficult,” wrote one customer.
Average Cost of QBE Renters Insurance
Nationwide, the average cost of renters insurance is $15 per month. But we don’t have any idea how QBE renters insurance stacks up against its competitors because there’s so little data available and only QBE insurance agents can provide quotes.
Based on common customer complaints, prices might be higher than normal. But again, you have to call an independent agent to get a quote.
Positives and Negatives of QBE Renters Insurance
Should you get QBE renters insurance? It depends on a few things. Here are some pros and cons to consider:
Is QBE renters insurance right for me?
If you’re already a QBE auto insurance customer, definitely call an independent QBE agent for a quote. You could get a decent rate thanks to a policy discount.
Otherwise, it’s hard to say QBE is worth the call when so many other quotes from good companies with stronger customer service reputations are available online.