Renter’s insurance is a home insurance designed specially for renters. In case of disaster,  landlord’s or property management’s insurance policies generally only cover building repairs, not the renter’s personal items. Renter’s insurance reimburses you to replace possessions damaged by fire, flooding, or lost to theft and vandalism.

Standard policies also include liability coverage, which pays for damage and injuries you may cause to others, and should cover for additional living expenses if your home is destroyed in a disaster covered by your policy. You can also add protection from credit card or debit card theft, as well as from forged checks. Theft extension coverage can even protect  personal items stored away from the home, such as a boat, mobile home, or vehicle.

When evaluating different renter’s insurance policies, consider the scenarios they provide coverage for, if there are any discounts available, what riders or additional coverage plans they offer, and finally, the cost. Factors that will impact the cost of your premium also include your location, the deductible amount, and whether you opt for replacement cost vs actual cash value. However, most policies are quite affordable, so cost shouldn’t be the top consideration on your list.

If you do decide to purchase renter’s insurance, a helpful tip is to make a thorough documentation of your personal property, to facilitate the process, should you ever have to file a claim. Before making a final decision, research at least three different companies, and obtain an estimate from each.


Top 10 Companies

#1
Our Partner
9.9 / 10
  • Allstate Has 84 Years Experience
  • Protect Your Stuff, In & Out of your Apartment
  • As Low As $4 a Month if Bundled!
  • Covers Fire, Theft or Vandalism
  • Protects You if Someone Gets Injured
  • Online Quotes or Talk to an Agent
#2
9.4 / 10
  • Quick online quotes 
  • Online payment 
  • Mobile app 
  • Multiple discounts
#3
8.7 / 10
  • Mobile app
  • Instantly get a quote online
  • Flexible pricing
  • 24/7 assistance
#4
7.9 / 10
  • Quick Online Quotes 
  • Multi-Policy discount 
  • Liability Coverage 
  • 24-hour customer support 
  • Mobile App 
#5
7.9 / 10
  • 150 years of experience
  • 24-hour assistance
  • Instant quotation
  • Online claims center
  • Quick claim process
#6
7.8 / 10
  • More than a century of experience in the insurance industry
  • Get free quote online
  • 24-hour customer assistance
  • Online coverage calculator
  • Exclusive group savings
#7
7.7 / 10
  • Easy application process
  • Mobile app
  • 24/7 phone support
  • Quick online estimates
  • Online Billing
#8
7.6 / 10
  • Get Instant Quotes
  • Renter’s Policy for under a $1 a day
  • Multiple line Discounts
  • Coverage for personal items
  • Wireless home monitoring
#9
Our Partner
7.4 / 10
  • Get free quotes from multiple renters insurance carriers
  • Wide network of renters insurance companies to choose from
  • Fast and free rate comparison platform
  • Safe and secure
  • Get savings on renters insurance premiums
#10
5.7 / 10
  • Instant quote 
  • Excellent for renters with personal property 
  • Two-minute online enrolment 
  • Multiple payment options 
  • Custom policy 
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How We Compare Renters Insurance

Company Profile

10%

This gives a quick overview of the company’s experience and history.

  • BBB Ratings
  • Age of Company

States Served – Refers to the states and areas covered by the service.

AM Best Company – Rate given by the global credit rating agency to each individual business.


Structures Covered

15%

Renter’s Insurance companies must offer a great deal of flexibility in terms of what type of rental structures it covers.

a. Apartment
b. Condominium
c. Townhouse
d. Single-family Homes


Plan Details

20%

Providing customers automated services and a prompt response to policy delivery are some of the best features that you should look out for. Prompt policy delivery times ensures that you are able to move in to a home at the soonest possible time.

Policy Delivery Time – Response time to customer’s policy request

Automatic Monthly Withdrawal – Service offered to customers for automated withdrawal process

Claims automatic deposit - - service provided by the company for automated claims deposit

Paper Policy Statement – Printed version of the Insurance’s policy

Mobile Access – A company feature that helps customers track their insurance status through the use of their smart phones

Sample Policy – Legal document outlining the company’s insurance policy terms that can be viewed by the public

 


Coverage

25%

Renters insurance may vary depending on the company’s coverage and protection plan. Renters should focus on companies with the most coverage for the money.

Here are the 3 basic categories to look for in standard coverage and protection

  1. Personal Liability – Responsible if someone gets hurt or in your property. Such as personal injury, accidents at home, and injury caused by pets.
  2. Personal Property- ​​​​​​​​​​​Covers all the things in your home, including furniture, appliances, firearms, jewelries, silverwares, gold wares, and computers.
  3. Property Damages – Covers damages that are caused by Fire, Windstorm, Freezing, as well as theft, vandalism and impact by a vehicle.

 


Discounts

15%

Discounts are a great way of saving on your premiums.  Compare discount options provided by each company to get a more accurate view on how much the actual cost of renter’s insurance will cost you.

  • Claim-free History – Policyholders who didn’t use their insurance within a specific period are eligible to get a claim free discount when re-contracting.
  • Multi-policy – Availing with more than 1 policy with the same company will give you additional discounts.
  • Fire, Sprinklers, Burglar – Common alarm systems and safety features installed in the premises.

 


Customer Support

15%

Coverage Calculator – An online feature that helps customers know the cost of their personal properties that needs to be insured.

Online Quotes – Get a quick look into how much renter’s insurance is going to cost you

Online Claims – make instant claims online for faster response times

24-hour Telephone Claim – Refers to the company’s availability for offline claiming

Email – Electronic mail service provided by the company to respond to customer’s inquiries.

Live Chat – Web based service that allows customers to communicate with an agent in real time.

FAQs – List of information for usual customer concerns

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