Renter’s insurance doesn’t just protect your valuable belongings. It’s also a requirement in numerous contemporary apartment complexes.
A common misconception is that landlord’s insurance covers personal property. This isn’t the case. Landlord’s insurance simply covers the physical structure but not a renter’s personal property.
When selecting a place to purchase this product, you must consider numerous factors, including policy offerings, pricing, customer service, and financial strength. Here’s a list of companies to consider when purchasing rental insurance.
Allstate
Established in 1931 with its headquarters in Northbrook, Allstate is one of the biggest casualty and property businesses in the insurance sector. It has $108.6 billion in assets and more than 12, 000 local agents nationwide.
The insurer is financially stable and offers dependable and comprehensive coverage. You’ll also benefit from competitive rates and exceptional customer service.
Moreover, they offer planned personal property coverage of high-priced items that aren’t in normal personal property coverage. Some of the discounts you can expect include:
- Multi-policy discount if you integrate your vehicle policy with your renter’s policy
- 15% savings if your home’s equipped with safety devices such as fire alarms or security systems
- 25% savings if you’re 55 and enjoying retirement
- 5% savings if you sign up for automatic bank withdrawal
- 20% savings if you change to Allstate and obtain bonus savings for each year you remain claim-free
State Farm
State Farm provides mutual funds, banking products, and various insurance policies. Established in 1922, the company currently manages more than 84 million accounts and policies. Moreover, it has more than $138 billion in assets.
What makes the insurer unique is that its plans are nationwide. It’s also one of the top insurers nationwide and has been in business for almost 100 years. The company provides extra coverage for your special items such as collectibles, computers, cameras, and jewelry.
The coverage also extends to accidental property damage and theft. You can even tailor your renter’s insurance policy and make claim-related contact with the insurer 24/7. The insurer also has an online app that enables you to produce a possession inventory. You can expect the following discounts:
- A house alert protection discount for installing smoke or fire detectors, burglar alarms or any monitoring system
- If you select a higher deductible, it might be possible to decrease your premiums.
Nationwide
Based in Ohio-Columbus, the company provides a wide range of insurance plans and financial services. Today, Nationwide provides renters insurance in 44 states and has more than $197 billion in assets.
The company permits you to tailor a policy to obtain the precise amount of coverage that you require. They also provide policies that cover the health expenses for other individuals that sustain injuries in an accident that takes place on your property.
Moreover, they offer credit card coverage for unlawful transactions, counterfeited money, and forged checks. You can expect these discounts:
- 20% savings on your renter’s insurance when you insure your vehicle with Nationwide
- You’re eligible for a discount if you remain claims-free
- You’re entitled to a discount if your rental features fire alarms, smoke detectors, or burglar alarms
Final Thoughts
A renter’s policy covers your personal contents against losses caused by named perils such as theft, hurricanes, fire, or other natural disasters while residing in a rental. In case you don’t know which company to go for, consider this guide.
For more information on the best renters insurance deals, contact us at Apartment Agents or leave a message.