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The Best Renters Insurance

Where Can You Find the Best Renters Insurance Out There Today?

In a world where life's unexpected events can disrupt even the most carefully planned routines, ensuring the protection of your personal belongings and living space is a growing concern for individuals and families renting their apartments or homes. Fortunately, to address this pressing need, there are specialized services and trustworthy insurance specialists offering renters insurance.

So, why is renters insurance more essential than ever? First off, there are a ton more people renting these days. And renting a home or apartment brings its own set of responsibilities and potential risks that are completely different from owning a home. While your landlord's insurance may cover the building itself, it typically doesn't extend to your personal belongings.

Thursday, April 18th

2024 Renters Insurance Reviews

Top Consumer Reviews Best-In-Class Blue Ribbon Award Assurant Review 5 Star Rating

Assurant

5 Star Rating
  • Average price is $20 per month
  • Available in all 50 states + DC
  • Coverage for personal property
  • Coverage for loss of use
  • Coverage for liability
  • Replacement cost coverage included
  • Coverage for medical payments
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • Discounts for paying upfront
  • "A+" rating and accreditation from the BBB
Top Consumer Reviews Best-In-Class Blue Ribbon Award

Assurant is a global insurance provider looking to help customers across an increasingly interconnected world. With a presence in 21 countries and over 13,600 employees, Assurant is a Fortune 500 company that serves more than 300 million customers worldwide. They specialize in crafting insurance, protection products, and support services, including renters insurance. US renters can feel comforted knowing that Assurant renters insurance is available in all 50 states plus Washington, D.C.

Tons of benefits at no extra cost

In your standard Assurant renters insurance policy, you'll find comprehensive coverage. This includes personal property coverage, which safeguards your clothing, furniture, electronics, and other possessions; loss of use coverage, ensuring you're covered for hotel stays, restaurant meals, and other expenses if you must temporarily relocate while your home undergoes repairs covered by your policy; liability coverage for financial protection in case you're responsible for injuries to others or damage to their property; and medical payments, covering injuries to individuals in your home, regardless of fault.

Replacement cost coverage

What sets Assurant apart is its inclusion of replacement cost coverage for personal belongings, which means you'll receive enough money to buy new items instead of a lower amount based on depreciation. Assurant also covers damages from mold, allows you to add roommates at no extra cost, and even offers bedbug-related coverage in some states. If that wasn't enough, Assurant also offers optional coverage add-ons such as pet damage, identity theft expenses, rent payments if you lose your job, earthquake damage, and protection against damage from backed-up drains or sewers.

Best Renters Insurance

Range of prices with custom details

Putting together your final price with Assurant is super customizable. When we checked out the quote form, we found tons of sliding scales and pricing options to ensure that you're getting exactly the type of coverage that you want. For example, Assurant offers liability coverage from $50,000-$300,000. You are also asked to enter how much it would cost to replace all your belongings with a sliding scale from $5,000-$50,000. You can also choose your deductible between $100-$500. However, it's important to note that if you live in a tropical state like Florida, you will have a $1,000 deductible on hurricane damage.

Build your own coverage

Using the builder, we used the middle range option for each and selected $10,000 for belongings in a small apartment complex which brought the monthly price to around $20 per month. While this isn't specific to every plan, it is a great tool to get a ballpark idea of your renter's insurance and you don't have to enter anything except the address to get started. It's important to note that while the prices are a little higher here, they offer a full range of features all at one price, which means many of the policy details that come as add-ons with other companies are included with the initial price at Assurant. However, if you want to add even more benefits, you can easily tack on extra add-ons too.

Light on discount opportunities

While there are a couple of ways to reduce costs with Assurant, such as making a single upfront annual payment for your renters insurance premium, the range of available discounts is somewhat limited. Depending on your location, you might be eligible for discounts related to safety and security devices like fire alarms or sprinkler systems, but additional discount opportunities will vary by state. Considering the higher prices at Assurant, it was disappointing to see they didn't offer more discounts.

Best Renters Insurance

Solid site, but slow loading times

When it comes to the Assurant renters insurance website and app experience, they've got you covered. On their website, you can easily obtain a quick renters insurance quote and access valuable information about your policy coverage. After becoming an Assurant policyholder, you can conveniently log in to their online portal to make updates to your address and payment method as well as access your policy documents. However, it's worth noting that while we were using the site for research, the loading times were very slow. So, keep in mind that you might have to wait a little extra to get from one page to the next. For customer service inquiries, you have the option to reach out to Assurant's renters insurance support line which is available on weekdays from 8 a.m. to 8 p.m. and there is a chatbot on the site to help you with quick inquiries anytime.

Top-rated for customer service

In terms of reputation, Assurant stands out as a top competitor. On top of having a stellar "A+" rating from the Better Business Bureau as well as accreditation, Assurant also holds a 4.6-star rating out of 5 from the BBB with over 10,000 total reviews to back up the rating. Plus, customers on third-party review sites gave Assurant an average rating of 4.6 stars through hundreds of verified reviews. Customers agree that the service representatives at Assurant are polite, knowledgeable, and efficient. Further, customers have expressed complete confidence in their renters insurance plans and customers who needed to file a claim felt that their concerns were taken care of quickly, easily, and with no unpleasant surprises.

Top option for features and service

While the monthly cost is higher than some other options on our list, the fact is Assurant is worth the money. Just skimming through a few of the reviews about this company shows how happy customers are with the service and coverage they received from Assurant. With tons of benefits and features included in the cost, and the flexibility to build your own plan, from liability coverage to the cost of your furniture, it's a no-brainer to say that Assurant is a top contender for renters insurance in the industry. Considering all these factors, it's clear that Assurant stands out as our first-place pick for renters insurance in this review.

Nationwide Review 4.5 Star Rating

Nationwide

4.5 Star Rating
  • Average price is $20 per month
  • Available in 43 states + DC
  • Coverage for personal property
  • Coverage for loss of use
  • Coverage for liability
  • Coverage for medical payments
  • Building additions and alterations included
  • Credit card protection included
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • Discounts for bundling, having safety tech in your home, and going paperless
  • "A+" rating and accreditation from the BBB

Nationwide has been around for nearly a century, providing global access to insurance and financial services. While the company has tons of insurance options, it promises that its primary commitment is to its customers.

Dedicated customer relations

Nationwide has a dedicated Office of Customer Relations to ensure that the company's unwavering commitment to providing exceptional service is always available to customers. The only downside is that Nationwide's renters insurance options are limited by some states: it is only available in 43 states (excluding Florida, Louisiana, Arizona, Alaska, Hawaii, New Jersey, and Massachusetts) and Washington, D.C.

Full protection plus tons of add-ons

Nationwide offers comprehensive renters insurance coverage that provides flexibility and protection for various situations, allowing you to tailor your coverage according to your specific needs. Their standard policy includes four fundamental types of coverage: personal property, loss of use, liability, and medical payments. Beyond these, Nationwide's basic policy includes coverage for building additions and alterations and credit card protection, which reimburses unauthorized financial transactions and forged checks. On top of that, Nationwide offers a range of add-ons, such as Brand New Belongings, Valuables Plus, water backup, theft extension, earthquake coverage, identity theft protection, personal injury coverage, and inflation guard, ensuring you have the flexibility to customize your policy to suit your unique circumstances.

Best Renters Insurance

Prices start as low as $20

When it comes to Nationwide's rates, the cost of renters insurance can fluctuate based on factors such as your chosen coverage and deductible, but Nationwide offers affordable options starting as low as $20 per month. Your specific rate can also be influenced by where you live, the condition and size of your rental property, and the total value of your personal belongings.

Plenty of ways to save

When it comes to discounts, Nationwide has you covered with a variety of ways to save on your renters insurance. Some of these include:

  • Multi-policy Discount: Combine your renters insurance with another Nationwide policy, like auto insurance, for extra savings.
  • Protective Devices Discount: Enjoy reduced rates if your home is equipped with safety features such as fire alarms and smoke detectors.
  • Claims-Free Discount: Keep your rates lower by maintaining a claims-free record.
  • Gated Community Discount: If your residence has restricted access, you can benefit from additional discounts.
  • Paperless Billing Discount: Opt for electronic policy documents and enjoy further savings on your insurance.

Clean design with lots of ways to reach out

Nationwide streamlines insurance management through its user-friendly online platforms. The website offers a range of services, from obtaining quick online quotes to hassle-free bill payments and claims filing, all while providing valuable educational resources on insurance. The design is clean and highlights the features customers need to use most with blue and teal buttons and quick navigation. The Nationwide mobile app, compatible with both iOS and Android, ensures that you can easily file claims, make payments, and set up autopay while on the move. Customer service is readily available through local agents or by calling in, and the Nationwide website features a chatbot for quick answers to any insurance-related questions.

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Great customer service and solid options

In terms of reputation, Nationwide is a standout option. Across different third-party review sites and blogs, the company has a solid average rating of 4 stars. On top of that, the company holds a stellar "A+" rating and accreditation with the Better Business Bureau. In general, clients praise the customer service at Nationwide. Customers feel that Nationwide's service representatives are kind and knowledgeable and take the time to make customers feel confident about the insurance policies. Customers also loved that many features that are usually extra cost at other companies come with the plan at Nationwide from the get-go.

Top "big name" insurance company

The bottom line? If you're looking for a big name in insurance that offers transparency, competitive pricing, and comprehensive plans, Nationwide is the one for you. With almost a century behind their operations and stellar ratings from the BBB and from customers, Nationwide stands out for being a user-friendly, customer-focused provider of renters insurance. While it isn't the cheapest option out there, you get what you pay for with Nationwide, and that's top-tier service across the board. Only the fact that it's not available in Florida, Louisiana, Arizona, Alaska, Hawaii, New Jersey, and Massachusetts knocks Nationwide below our first-place pick. But if you live in one of the states covered, definitely check them out.

State Farm Review 4 Star Rating

State Farm

4 Star Rating
  • Average price is $15 per month
  • Available in 47 states + DC
  • Coverage for personal property
  • Coverage for loss of use
  • Coverage for liability
  • Coverage for medical payments
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • Discounts for bundles and no claims
  • "B" rating from the BBB

Almost everyone has heard the slogan "Like a good neighbor, State Farm is there." As one of the powerhouse insurance companies on the market today, State Farm focuses on customer service as it promises to deliver more than its competitors. While renters insurance at State Farm is pretty comprehensive, it's missing out in one area: locations. State Farm offers renters insurance in every state except California, Massachusetts, and Rhode Island, making it available to only 47 out of 50 states. Further, only customers who are new policyholders with State Farm can secure renters insurance in Washington, D.C., which we found a little odd.

Customizable plan options

Standard renters policies at State Farm encompass four main coverage types: personal property, loss of use, liability, and medical payments. State Farm also includes replacement cost coverage at the same price to ensure you're reimbursed for the current market value of your belongings regardless of depreciation. You can also choose to add on business property coverage, waterbed liability, identity theft protection, and more, giving you the freedom to customize your policy to match your unique circumstances. State Farm renters insurance also covers nonphysical injuries (including pain and suffering or events that require counseling or therapy), earthquake damage, and valuable items with high limits.

Prices start at $15 per month

State Farm offers budget-friendly renters insurance with an annual cost of just $127, which translates to approximately $15 per month and matches the national average. It's one of the more cost-effective options that insures your valuable belongings and provides peace of mind without breaking the bank. However, keep in mind that these are only estimates and the final prices will be determined based on your add-ons, your location, and other safety features included in your rental.

Best Renters Insurance

Standard discount options

State Farm offers a some of attractive discounts for renters insurance. While the options for discounts are fewer at State Farm than some of the competitors, their lower overall prices might make up for the lack of options. State Farm's discounts include:

  • Multiple policy discount: allows you to save when you bundle your renters insurance with a State Farm auto insurance policy
  • Safety devices: including items like deadbolt locks, smoke detectors, or anti-theft alarm systems can qualify you for a discount
  • Maintaining a claims-free record: avoiding making any claims may also make you eligible for additional savings

Solid website

State Farm provides a user-friendly online experience for renters insurance. Their website offers valuable information about how renters insurance works, allowing you to easily obtain a quote online with the help of a convenient quote checklist. If you need assistance or want to connect with a nearby agent, the State Farm agent lookup tool is available and easy to find on their clean red-and-white website design. For Spanish-speaking customers, the website is accessible in Spanish as well.

Mobile app is comprehensive

State Farm's mobile app offers the ability to file and track claims, manage your policy, and make payments through Apple Pay or Google Pay. One thing to note, however, is that for customers who use State Farm, using the app is often a requirement for submitting photos for claims, which can be frustrating for some customers, especially when you have to get the photos exactly right. On the other hand, State Farm also offers responsive customer service via phone, email, or chatbot, ensuring you receive the support you need when you need it.

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Good reputation, but not the best

State Farm has a pretty solid reputation across the board. At the Better Business Bureau, State Farm holds a solid "B" rating. While this is lower than many companies on our list, it's a fairly good rating overall. On top of that State Farm has received a 4.1 star average out of 5 from customer reviews. Customers have noted that setting up the plan is super easy and customers who have made claims felt that State Farm handled the problem perfectly. On the flip side, there are a handful of reviewers who said the claims process was frustratingly long, so there may be some difficulty in processing your claim, though this was in a very small minority of reviews and not strictly related to renters insurance policies.

Strong choice

Overall, there are a lot of high points with State Farm. The best of these is the price. Starting at $15 per month, State Farm offers competitive beginning rates with comprehensive features. On top of that, you have a full range of customizable add-ons to make sure that the State Farm policy fits your rental needs specifically. With average discounts available and a solid "B" rating State Farm comes in with a solid rating in this review and is a great place to find renters insurance.

Travelers Review 3.5 Star Rating

Travelers

3.5 Star Rating
  • Price only available after quote
  • Available in 46 states + DC
  • Coverage for personal property
  • Coverage for loss of use
  • Coverage for liability
  • Coverage for medical payments
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • Discounts for bundles and no claims
  • "A" rating from the BBB

Travelers is an insurance company with over 165 years of experience. The company is known as one of the industry's top property-casualty insurers, covering homes, cars, valuables, and businesses.

Large company

With a team of approximately 30,000 employees and 13,500 independent agents and brokers across the United States, Canada, the United Kingdom, and Ireland, Travelers is always there to provide the security you need. However, in the US there is a small limitation: Travelers currently offers renters insurance in only 46 states (excluding Michigan, Louisiana, Hawaii and West Virginia) and Washington, D.C.

Travelers covers all the bases

At Travelers, renters have the flexibility to select their preferred coverage. Standard renters insurance at Travelers includes the four primary types of coverage:

  • Personal property coverage, which safeguards your belongings like clothing, electronics, furniture, and more
  • Loss of use coverage, offering financial support for expenses like hotel stays or restaurant meals if you must temporarily relocate due to covered repairs in your home
  • Liability coverage, which steps in to cover injury-related costs or property damage for which you're responsible
  • Medical payment coverage ensures protection for injuries sustained by others in your home, regardless of fault

Improvements also covered

Travelers renters insurance goes the extra mile by including housing improvements coverage. This feature means that any alterations or upgrades you've made to your rented unit, approved by your landlord, will be covered in case of theft or disaster, up to 10% of your personal property limit, with options for higher limits at an additional cost. Travelers also offers add-ons like replacement cost value, valuable items coverage for high-value possessions, and identity fraud protection, providing reimbursement of up to $25,000 for identity theft-related expenses like legal fees and lost wages.

Best Renters Insurance

Prices aren't shown on site

Despite great coverage options, one place that Travelers didn't stand out was their price transparency. Like a few other companies we reviewed, Travelers doesn't provide any details (even a ballpark estimate) for renters insurance on the website. In order to get renters insurance quotes, you need to fill out all of your personal information and wait to be contacted by Travelers for more details. It would be preferable if Travelers was more transparent from the beginning and made it easier for customers to get quotes without going through all that work.

Basic discounts available

You could potentially qualify for savings with Travelers renters insurance through various means. However, it's worth noting that these discounts are pretty standard across the industry, and Travelers doesn't really stand out in the discount department. Some of the ways you could save include:

  • Bundling multiple Travelers policies together
  • Maintaining a claims-free history
  • Equipping your residence with protective devices like sprinkler systems, specific smart-home gadgets, or advanced home security systems

User friendly experience

Travelers provides a user-friendly online experience for managing your renters insurance policy. Their website's MyTravelers section offers convenient options for tasks such as bill payment, claims filing, and policy management. When we checked out their mobile app, available for both iOS and Android devices, we found it offers features like bill payment, autopay setup, policy information access, and claim reporting.

Best Renters Insurance

Some small site glitches

One snag we ran into during our research is that some areas aren't included in their estimator tool. We had to try two or three different zip codes before the system would let us start to fill out the forms. Otherwise, the site directed us to call a representative to get a quote for the areas that didn't go through. As for filing claims, this can be done through the website, app, or a phone call, with the ability to track claim status through your MyTravelers account at any time.

Solid reputation overall

Travelers boasts a strong reputation in the insurance industry, backed by an "A" rating from the Better Business Bureau. On top of that, the company holds a commendable 4.1-star average out of 5 from customer reviews. While they may not hold the top spot in ratings, Travelers has earned the trust of many policyholders. Customers appreciate the ease of setting up their insurance plans with Travelers, and how easy it is to navigate the site and find details about their policies at a glance.

Good option for plan benefits

While there are some pretty great things at Travelers, it was the lack of transparency for the prices that kept Travelers out of the top three spots in this review. However, customers love the user experience with this company, so it's definitely still worth checking out. With the inclusion of housing improvements insurance on the plan as is, there are some solid benefits for going with Travelers. So, if you feel like going through the work of getting their full estimate, it might be worth it for the protection you get.

Lemonade Review 3 Star Rating

Lemonade

3 Star Rating
  • Prices only available after estimate
  • Available in 28 states + DC
  • Coverage for personal property
  • Coverage for loss of use
  • Coverage for liability
  • Coverage for medical payments
  • Building additions and alterations included
  • Credit card protection included
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • User-friendly interface
  • "B-" rating from the BBB

Lemonade got started in 2015, so it stands out as one of the newest options in this review. However, unlike many companies, Lemonade doesn't offer its own insurance policies. Instead, the company is owned by Bestow Insurance, who issues the coverage. However, no matter where the coverage comes from, it may be hard to get for some customers as Lemonade renters insurance is currently only available in 28 states plus Washington, D.C.

Industry standard options with bonuses

Lemonade's standard renters policy includes the four primary types of coverage: personal property coverage, which protects your belongings; loss of use coverage, providing support for temporary living expenses during covered repairs; liability coverage, offering compensation for injuries or property damage you're responsible for; and medical payments coverage, covering injuries to others in your home, regardless of fault. Lemonade also covers your belongings on a replacement cost basis. Optional coverage add-ons may also be available depending on your location, including extra coverage for valuable items like jewelry and fine art, water backup protection, and equipment breakdown coverage for appliances and electronics.

Getting a quote requires lots of details

One place we wished Lemonade did a little extra was in their pricing transparency. There aren't any ballpark prices listed on the website, and in order to get a quote from them (even a basic one) you have to enter all sorts of personal information including the last four digits of your social security number. While these things are necessary for getting signed up properly, it seems like a lot of personal information for just a quick quote.

Average discount opportunities

There are opportunities to save on your Lemonade renters insurance policy. You might qualify for these discounts if you purchase another Lemonade policy, such as pet insurance, have protective devices like smoke alarms or deadbolt locks in your home, or opt to pay your premium annually rather than in installments. These cost-saving options can make your renters insurance even more budget-friendly. However, the discounts aren't super exciting or different from the average discounts available from competitors.

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Easy and sleek interface

Lemonade's standout feature is its remarkably user-friendly website and app interface. With a clean white and pink color scheme, vital information and clickable links are easily discernible, making it effortless for customers to navigate and find what they need. The app, available on both iOS and Android, offers a convenient place to check your policy and file claims on the go. While some cases are transferred to a claims team member, Lemonade boasts of handling 40% of claims instantly, with funds wired directly to the customer's bank. Plus, there are accessible customer service options all over the site including the Maya chatbot for logged-in policyholders, messaging through the website, or calling their customer service number.

Praised for its customer service

When it comes to its reputation, Lemonade doesn't quite reach the top tier. While it boasts competitive user ratings from third-party review platforms, it doesn't quite match the reputation of some of the other companies in this review. Lemonade holds an average rating of 4.5 stars out of 5, which is respectable but falls short of some other companies. On top of the star-ratings, Lemonade has a "B-" rating with the Better Business Bureau, while still solid, is slightly lower than some of its competitors. Nevertheless, reviewers had positive experiences with Lemonade's customer service, commending the friendly and prompt responses from their representatives. Overall, customers generally felt well-supported by the company.

Mid-tier option overall

For those seeking hassle-free renters insurance, Lemonade emerges as a competitive choice. However, with zero transparency regarding price, it's hard to compare its overall cost to other companies in this review. While the features are standard for the industry, the BBB rating isn't as strong as it could be, and the plans are unavailable in almost half of the states in the nation. So, despite some solid features and a good review presence, Lemonade sits squarely in the middle of the pack as a renters insurance provider.

Allstate Review 2.5 Star Rating

Allstate

2.5 Star Rating
  • Average price is $16 per month
  • Available in all 50 states + DC
  • Coverage for personal property
  • Coverage for loss of use
  • Coverage for liability
  • Coverage for medical payments
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • Discounts for 55+

Allstate is a huge name in insurance and stands out for serving a vast network of over 50,000 groups and covering more than four million individuals across the United States. With a history spanning over six decades, Allstate has consistently offered high-quality insurance products and services and promises a compassionate approach to claims processing. On top of all of their insurance options, they include renters insurance which is available in all 50 states and Washington, D.C.

Four types of coverage and add-ons

The standard renters policies at Allstate include four types of coverage: personal property coverage, which safeguards your belongings like clothing, furniture, and electronics; loss of use coverage, which covers expenses like hotel stays during home repairs; liability coverage, which pays for injuries or damage you're responsible for; and medical payments coverage, which covers injuries to others in your home, regardless of fault. Allstate also offers add-ons like scheduled personal property coverage for valuable items, identity theft coverage, and replacement cost coverage for personal property.

Clean site with tons of ways to manage claims

While browsing on Allstate, we found that the company offers a very user-friendly online experience through its website and mobile app. Plus, the "Resources" section provides a ton of information on renters insurance, so if you have any questions prior to asking for a quote, Allstate has the answers for you. On top of the streamlined web experience, Allstate's mobile app is compatible with both iOS and Android devices. Customers can pay bills, access policy details, submit claims, and communicate with an agent directly from the app 24/7. For those who prefer assistance through chat, Allstate's online help center features a chatbot as well as personalized support through a phone call or email.

Average cost is $16 per month

When it comes to Allstate renters insurance rates, you can expect an average monthly premium of about $16. If you also insure your car with Allstate, you may be able to pay as little as $4 a month as part of that bundle. However, in order to get a completely accurate price rather than an average, customers will need to request a quote from Allstate. And, it's been noticed by customers that the location-based model of Allstate's insurance policies can make it very expensive to get renters insurance in areas that are "higher risk" , like Detroit, MI, for example.

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Most discounts are for factors the renter can't control

If you're looking for a way to get discounted coverage, there are a few methods to try at Allstate. Tailoring plans on an individual basis, Allstate offers potential savings that include bundling multiple Allstate policies, paying your premium upfront or through autopay, maintaining a claim-free history, having safety measures like fire alarms or security systems in your apartment, and reaching the retirement age of 55 or older. These discounts can make your renters insurance more affordable while still providing the same level of essential coverage for your belongings. However, many of these discount factors are based on things the customer can't control, and there are somewhat fewer opportunities for discounts at Allstate than from other companies in our review.

Some complaints about pricing

In terms of reputation, Allstate has a mid-tier score overall. While some customers love Allstate, the reviews that focused on renters insurance were all over the place. On average Allstate earned a 3.8-star average out of 5 stars for its renters insurance. In general, customers noted that it was hard to earn discounts with Allstate and that they felt the prices were higher in general at Allstate than with other providers. This is due to their location-based pricing, which bases premiums on things customers themselves can't control. Further, Allstate is rated "NR" by the Better Business Bureau, which doesn't inspire a lot of confidence compared to companies that are rated higher.

You may not be "in good hands" pricewise

The bottom line is Allstate may not be ideal for customers looking for the most cost-effective option for renters insurance. For example, if you don't bundle with other types of insurance at Allstate or if you live in a "high-risk" area, you might find prices are too expensive. Many customers have noted that due to the fact that Allstate uses your location to determine costs, certain areas have extremely high premiums for renters insurance. While there are ways to find discounts, making claims or being younger than 55 can cause your premiums to go even higher. So, for a budget-friendly service (and one rated higher by customers and the BBB), you might want to keep browsing.

Liberty Mutual Review 2 Star Rating

Liberty Mutual

2 Star Rating
  • Price only available after quote
  • Available in all 50 states + DC
  • Coverage for personal property
  • Coverage for liability
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • Discounts for bundling with car insurance or using autopay
  • "A+" rating and accreditation from the BBB

Liberty Mutual ranked 86th on the Fortune list and stands as the fifth largest global property and casualty insurer as of 2022. With a worldwide presence in 29 countries, Liberty Mutual claims a commitment to safeguarding and preserving assets and focusing on putting its customers first. They credit their accomplishments over the past century to their dedicated employees, valuable partners, and, above all, their loyal customers. Renters insurance is one of the many insurance plans and coverage options available through Liberty Mutual. With international coverage also available, it's no surprise that you can get renters insurance anywhere in the United States.

Customizable coverage options

Liberty Mutual's renters insurance meets the standard expectations for benefits and coverage including personal property coverage and liability coverage. It then goes beyond to offer a range of customizable coverage options to cater to your unique needs. These add-ons include blanket jewelry coverage, ensuring the replacement of your precious jewelry without the hassle of a deductible or appraisal requirement.

Replacement cost included in price

For those residing in earthquake-prone areas, Liberty Mutual extends earthquake coverage, which includes damages from aftershocks up to 360 hours following the initial earthquake. And, included in the regular price of the policy, Liberty Mutual offers replacement cost coverage for full reimbursement of covered losses and identity theft coverage to protect your wages and attorney fees while helping you keep a close eye on your credit if your identity is compromised.

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Zero price transparency

Like a few other insurance companies on our list, Liberty Mutual doesn't allow customers to see prices in advance. In order to get even a ballpark idea of what your renters insurance will cost, you'll have to fill out details like your current address or where you plan to rent, whether or not you have a roommate, whether or not you have auto insurance with Liberty Mutual, and other key details. However, before this, there is zero transparency about pricing, which may be frustrating for customers looking to do a quick comparison between different companies.

Competitive options for discounts

You'll find several opportunities to save with Liberty Mutual, depending on your location and circumstances. These potential discounts include bundling policies with Liberty Mutual auto insurance, opting for autopay, purchasing your policy through their website, maintaining a claims-free history for at least five years with your previous insurer, and getting a quote from Liberty Mutual before your current policy expires. These discounts can help you maximize your savings while getting quality renters insurance coverage. However, keep in mind that there's no way to know what the price is prior to a quote, so it's unclear how much savings are offered in these circumstances.

Quick and easy to browse

Liberty Mutual has a solid and user-friendly website and mobile app. On their website, you can easily obtain quotes, manage your policy, file, and track claims, all in one place. Their mobile app, compatible with Android and iOS, allows you to file claims, make payments, access coverage information, and even view your digital ID card on the go. When it comes to claims, you have the flexibility to file them online, via the mobile app, or by calling their customer service team. Liberty Mutual aims for prompt response, with a representative typically reaching out to you within 1-2 business days.

Best Renters Insurance

Liberty Mutual doesn't deliver

While Liberty Mutual has a high rating for customer service on the Better Business Bureau with a solid "A+" rating and accreditation, there are some serious red flags in the third-party reviews from customers. In general, Liberty Mutual doesn't have a ton of reviews, but the ones that are out there aren't stellar. On one verified third-party review site, customers gave Liberty Mutual an average rating of just 1.3 stars out of 5. In general, the complaints for Liberty Mutual renters insurance showed that customers didn't get the service they needed while making claims through their renters insurance policy. Others have complained that Liberty Mutual did not replace belongings despite promising to ,and other concerning stories of the company not living up to policy promises.

Not enough concern for customers

Despite the "A+" rating from the BBB, there are a lot of negatives to consider if you're looking for renters insurance at Liberty Mutual. The biggest red flag? Customers just aren't satisfied with the service. On top of a lack of pricing transparency, Liberty Mutual has just 1.3 stars on average from customers who've used the renters insurance option there. Many customers felt that when it came time to make claims with Liberty Mutual, their needs weren't met by this company. With all the other concerns around needing to use your renters insurance, you want to pick a company you know will have your back in an emergency. For that reason, we recommend checking out another company with higher ratings overall.

Geico Review 1.5 Star Rating

Geico

1.5 Star Rating
  • Prices available after estimate
  • Available in all 50 states + DC
  • Coverage for personal property
  • Coverage for liability
  • Coverage for medical payments
  • Add-ons available
  • User-friendly site
  • Mobile app for Apple and Android
  • Discounts for bundling with car insurance
  • "A+" rating from the BBB

Geico, most widely known for its auto insurance coverage, also extends its plans to various other insurance types through partnerships, and among these is Geico's renters insurance. As Geico's renters insurance policies are facilitated through third-party companies, it's hard to find out which specific insurer you're paired with until you're well into the quote process. One benefit of using partner companies, though, is that Geico can provide renters insurance through partner companies in every state and Washington, D.C.

Plan selection is done for you

Geico's renters insurance coverage is offered by the Geico Insurance Agency which acts as an intermediary to connect customers with one of 20+ renters insurance partners. Some of these partners include well-known names like Liberty Mutual and Travelers. However, since Geico assigns you to an insurance provider, you won't have the liberty to select your insurance provider, which may not be ideal for customers who want to be more hands-on.

Types of coverage depends

The specific types of coverage at your disposal will hinge upon the third-party insurer Geico pairs you with, so you're not guaranteed to have all the bells and whistles. Still, the standard renters policies usually include protection for your personal belongings in case of theft or damage, renters liability coverage to address lawsuit damages and medical payments, and loss of use coverage to manage expenses when you need to vacate your residence during repairs after a disaster. In terms of add-ons, Geico also offers various optional coverage choices, which will also vary depending on your location and the insurer you're matched with.

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Prices lack transparency

Unfortunately, there aren't any average prices listed on the website for Geico. In order to figure out what you might pay, you'll have to go through their quote process which includes adding all your personal information as well as the location where you're renting. At the end of the process, you'll be sent an email with your quote. The only bonus for Geico is that if you happen to be a Geico car insurance holder, it's worth exploring their renters insurance options, as bundling both auto and renters policies with Geico qualifies you for a discount. However, we'd still love to see more pricing transparency from the get-go.

Discount if you bundle renters and car insurance

The main way to get a discount from Geico is if your car is already covered by Geico's auto insurance. If you bundle, you can expect a discount on your auto policy when you decide to purchase renters insurance via Geico's agency. Additional discounts, however, will vary depending on the third-party insurer that's in charge of your renters policy. So, there's no way to know what might reduce your price until you've been matched with the third-party insurer.

Solid site and mobile experience

When it comes to Geico's online presence, their website has one glaring downside: price transparency. While you can access quotes and get details about the ins and outs of renters insurance, you can't find prices prior to requesting an emailed quote, which was disappointing. Beyond that, the site is clean, streamlined, and easy to use. As for their mobile app, it's primarily tailored for auto insurance customers, but the third-party insurer handling your renters insurance might provide an app for policy management. With respect to filing claims, it's worth noting that you'll need to handle that process directly with the third-party insurer. For customer service inquiries, Geico offers a chatbot for quick questions and provides options for sending direct messages through your online account or reaching out via phone to talk to a representative.

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Low ratings for customer service

Geico is a bit of a mixed bag when it comes to reviews. For example, the company has an impressive "A+" rating from the Better Business Bureau; however, the customer reviews on the BBB only show a 1.1-star rating on average. Further, the third-party reviews for the renters insurance specifically showed only a 1.8-star average out of 5 stars. Customers complained about everything from getting charged extra after claims (despite being promised claim forgiveness) to being charged more for moving to a new area after being promised they wouldn't. In general, customers note that they felt Geico wasn't being transparent, honest, or standing behind the promises they made, which is deeply concerning considering the importance of renters insurance.

Keep looking for somewhere more trustworthy

At the end of the day, trustworthiness is a big deal, and based on customer feedback, Geico isn't doing a lot to build trust within the rental insurance market. From outsourcing the renters insurance to a lack of transparent pricing as well as claims that the company isn't keeping promises, there aren't a lot of positive points for getting renters insurance with Geico. With these red flags in mind, we recommend shopping elsewhere for your renters insurance to find plans that make you feel truly confident about your coverage.

Compare the Best Reviews

Continued from above...

Imagine the loss and financial strain that could result from a fire, theft, or other unexpected incidents. Renters insurance steps in to protect your belongings, from furniture and electronics to clothing and jewelry, so that you're not left with the burden of replacing everything from scratch.

Renters insurance policies come in various forms to cater to your unique needs. Leading providers offer comprehensive coverage that goes beyond the basics, including liability protection and additional living expenses coverage. These services are designed to offer peace of mind, whether you're a student renting your first apartment or a family in a long-term lease.

Insurance experts often advise renters to consider the value of their possessions and the potential costs of replacing them as these costs can be added to your policy at the get-go. While no one wants to think about worst-case scenarios, renters insurance is a smart way to prepare for the unexpected.

Thankfully, obtaining renters insurance is a straightforward process; it's easily accessible for renters of all backgrounds. If you're unsure where to start, don't worry. Because your possessions and your financial security matter, we've taken the time to explore the top renters insurance services for you, so you can make an informed decision and protect what matters most.

Here are a few factors that can help you narrow down your choices:

  • Cost. Considering that renters insurance is a continuous expense, you'll want to check budgeting options in the long term. How much do you want to spend? Are you looking for a full package with all the bells and whistles? Or maybe budget and bundle options are best for you? Knowing what you want to spend will help you narrow down your options. Also, your landlord/property management company may have certain minimum coverage requirements, so start from there.
  • Transparency. On the note of price, some companies are more transparent than others regarding price points. Keep an eye out for those that give you upfront prices and easy access to quotes to feel more confident about what you want to spend.
  • User interface. With insurance that you need to check on or update or even (worst case) make a claim, you'll want to be comfortable with the user interface. Does the company have a mobile app? Is it easy to find what you need on the site? Are loading times quick and seamless? How easy is it to file a claim online? Keep these things in mind as you check out the options.
  • Reputation. Reputation is a big deal and trustworthiness is key. If customers aren't happy with the coverage or service they've gotten from a renters insurance provider, you'll want to stay away. Keep an eye on ratings from the Better Business Bureau and verified customer reviews can help you sift out the companies that aren't as trustworthy as the top choices.

Because we take your protection and peace of mind seriously, Top Consumer Reviews has evaluated and rated the best places to go for renters insurance today. We hope this helps you feel more secure about your home and belongings and stay stress-free about any future emergencies. With renters insurance, you'll be taken care of.

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Renters Insurance FAQ

Renters insurance is a policy that provides financial protection for your personal belongings, liability coverage, and additional living expenses in case of events like theft, fire, or accidents. It's essential and usually required by landlords because it helps safeguard your possessions and shields you from liability claims.
While roommates can share a rental, renters insurance policies are typically individual. Each roommate should consider getting their own renters insurance policy to protect their personal belongings and liability. Some insurers offer coverage for roommates living together under separate policies, and some also allow you to add a roommate to your existing plan.
Renters insurance is generally not required by law, but your landlord may require it as part of your lease agreement. Even if it's not mandatory, it's highly recommended to protect your interests.
While security measures can enhance safety, they don't replace the need for renters insurance. Renters insurance protects against a broader range of risks, including theft, fire, and liability, which security measures may not address fully. On the bright side, many insurance policies will offer discounts if you have extra security in your rental.
If your rental becomes uninhabitable due to a covered event, renters insurance can provide coverage for additional living expenses. This includes the cost of temporary accommodations like hotel stays, meals, and other essential expenses while your rental is being repaired or replaced. Not every plan covers this from the get-go, so make sure if you're concerned about it you pick an add-on or choose a plan that covers accommodations.
Renters insurance typically covers personal property, liability, and additional living expenses. Personal property coverage includes your belongings, while liability coverage protects you if you accidentally injure someone or damage their property. Additional living expenses coverage helps with temporary living expenses if your rental becomes uninhabitable. There are other add-ons with many policies, so you can get more or less coverage depending on what you need.
Yes, renters insurance often covers personal property even when it's outside of your rental. This coverage, known as "off-premises coverage," can protect your belongings worldwide, but it's essential to check your policy for specific limits and conditions. Some policies may have this included and others may require you to purchase it as an add-on.
Standard renters insurance typically doesn't cover damage caused by earthquakes or floods. However, many companies do offer earthquake or flood coverage as add-ons, but this does come at an extra cost. Many customers who live in an area prone to such events should consider purchasing separate earthquake or flood insurance for adequate protection.
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