Finding the best renters insurance for your needs can be difficult. Whether you're looking for the cheapest premiums, the best customer service, or just great basic coverage, NerdWallet has you covered.
Renters insurance works in much the same way that a traditional homeowners policy does, only without any protection for the actual dwelling itself. It typically covers damage to and loss of personal property as the result of an emergency or catastrophe, as well as liability coverage for personal injury and/or property loss that may be inflicted upon others in the rented dwelling.
It is important for anyone who rents an apartment, condo, or house, especially those who are concerned about the theft of personal property. Additionally, many insurance companies offer discounts on other forms of insurance if the policy holder also purchases a renters insurance policy. For instance, the discount that State Farm offers to holders of an auto insurance policy is actually greater than the cost of the renters policy itself.
Best For Military Members: USAAUSAA offers many benefits to those that chose their renter's insurance. Options for coverage include item replacement, flood damage, earthquake damage, moving and storage, and identity theft. Customer satisfaction with USAA and their renter's insurance is near the top of the industry and should be one of your first choices when choosing the right company for you. Their rates are afforable, customer service is great, and claims processing is done quickly.Learn more  Get a Quote |
Best Rated: State FarmWhen it comes to renter's insurance, State Farm is among the best in the business. They offer their customers benefits such as coverage from theft, weather damage, cost of additional living expenses, and medical liability from injuries sustained on the property. Rates are among the best you will find and customers continue to give State Farm high marks for their claims service and customer service. If you are looking for a quality company for renter's insurance, give State Farm a try. Learn more  Get a Quote |
Best for Low Premiums: GeicoGeico offers a variety of coverage for your personal property such as furniture, clothing, and jewelry. Their policies are written through non-affiliated insurance companies and that is possibly where the trouble comes from. Customers have reported an above average complaint ration concerning the company's claim service. Many complaints exist that they take an excessive amount of time for processing if they cover your theft/damages at all. Geico renter's insurance is cheaper on average than the standard rate it may not be worth the hassle. Learn more  Get a Quote |
Best for Customer Satisfaction: AllstateOverall Allstate is average when it comes to renter's insurance. They offer the standard policy benefits such as reimbursement for your damaged or stolen property and reimbursed for living expenses if your home becomes uninhabitable. Customers have reported helpful and friendly customer service most of the time and afforable rates for coverage. Allstate is a decent company for renter's insurance but there is nothing really of exceptional quality worth switching policies or joining them for the first time. There are better companies out there but if you decided to go with Allstate you would more than likely still be satisfied. Learn more  Get a Quote |
Best Coverage Variety: EsuranceEsurance offers different coverage options for renters such as damage/theft of your personal belongings and off premises coverage. Esurance renter's insurance is average among the group of options available to you. Their rates are standard as are their coverage options. Customers have reported experiencing some delays with claims processing but employees remained helpful and friendly. Esurance should be your third or forth choice for renter's insurance. Learn more  Get a Quote |
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