Best Companies For Renters Insurance
What if you’re ready for a whole new company? Check out a few of the best renters insurance companies below.
Lowest Overall Price: Lemonade
As a pioneering startup breaking into the competitive renters insurance market, Lemonade uses cutting-edge algorithms to offer bare-bones renters policies––some as low as $5 per month!
Best for Discounts: Allstate
Ranked 3rd on J.D. Power’s ranking of national renters insurance providers, Allstate is an established, reliable insurance provider with a long-held reputation for strong customer service and many opportunities to score discounts or bundle quotes. Allstate advertises an average monthly premium of $15, but the cost of your personal policy may vary.
Best Customer Service: State Farm
As the single largest insurance provider in the U.S., it won’t surprise you to learn that State Farm has received kudos from policyholders for stellar customer service and quick handling of claims.
For a two-bedroom, one-bathroom apartment in Queens, NYC, with $100,000 liability, $25,000 personal property, $1,000 medical payment, and a $1,000 deductible, State Farm provides renters insurance at the reasonable price of $10.42 a month.
Best for Veterans and Military Families: USAA
USAA is renowned for its customer service and reasonable cost––and its renters insurance product is no exception. That said, USAA isn’t for everyone––the insurer only provides coverage to U.S. military members and their immediate family.
For a two-bedroom, one-bathroom apartment in Queens, NYC, with $100,000 liability, $25,000 personal property, $1,000 medical payment, and a $1,000 deductible, a renters quote from USAA is available at the affordable rate of $10 a month. USAA also offers several bundling discounts and other deals for renters.
Keep in mind, however, that each renter––and each rented home––is different. Your mileage will vary when it comes to the price of your individual quote, which is why comparison shopping is so important.