What an unfateful day for a renter it would be that he comes home and finds all his possessions completely burnt in fire or another calamity. Even if the landlord had their home insurance policy, it won’t be of any help for the renter. The policy would only pay for building repairs and not for the personal belongings of the renter. So if you are a renter and have still not opted for renters insurance, do it as soon as possible. Buy insurance from any of the reliable renters insurance companies of 2022.
There are many insurers available that offer policies for renters. It is needed a tough job to find the right insurer for you. To make things easier we bring to you the best and most authentic reliable renters insurance companies. These companies are selected based on important factors like financial stability, filing a claim, discounts, coverage offered, etc.
List of Reliable Renters Insurance Companies
Out of all the reliable renters insurance companies in the US, Amica is at the top of our list. With a presence all over the USA (except Hawaii and Alaska) Amica is one of the biggest renter insurance companies here. As per the National Association of Insurance Commissioners the company has a great track record of very few complaints compared to its size.
The all-purpose company website allows users to get easy quotes, pay insurance online and also track or file a claim. Renters can also opt for extra coverage for jewelry, electronic items, and other expensive items. The company also gives the facility of replacement cost coverage. This option gives you funds to buy new items that were stolen or damaged.
The company offers discounts for automatic bill payments, paperless billings, opting to stay with them for at least two years and not filing a claim for at least three years
The company offers its services in 19 states and is also known for the least consumer complaints compared to its size. If you are a renter looking for extra coverage, this insurer should be your best choice.
Its policies offer up to $1 million of liability insurance in case of a lawsuit and up to $25,000 for medical payments if someone gets injured on the property. You can also get extra coverage for special items like musical instruments and engagement rings. This reliable renters company also gives discounts if you bundle the policy with any of their other policies or have no claim filed for at least five years.
The standard renter insurance policy from Nationwide not only covers the basics like liability and personal property but also covers credit card and building addition and alterations without paying any extra cost. The policy ensures complete safety from unauthorized charges on your cards and also covers the improvements the landlord makes to your home.
The company offers big discounts if have not filed a claim for a few years, have multiple policies, or have smoke detectors installed in your homes. Thus Nationwide has gained popularity as one of the most reliable renters insurance companies of 2022.
Travelers give much priority to renters in many ways. This reliable renters company’s website is user-friendly to get any details or file a claim. You can also get complete information about the policy coverage and quick quotes. NAIC says that Travelers get fewer complaints considering the size of their company.
The company also offers discounts to users who have multiple policies or have sprinklers and smart systems installed in their homes.
If you are a senior citizen renter then you should take insurance only from reliable renters insurance companies so that you do not have to suffer in the future. AllState should be your best choice. The company gives a discount of up to 25% to retirees of age 55 and above.
Discounts are also available on bundled policies or allowing automatic bank payments of premium. AllState also comes with its mobile app for a better consumer experience. Renters can pay their bills, file a claim, view their policy documents and also get in touch with their agents through the mobile app.
Another company that has come up as the best choice of consumers due to fewer complaints is the American Family. The company offers two types of discounts to its customers. There are some common discounts a user gets for having a bundle of policies from the company. There are also some unique discounts for renters between the age of 18-30 if they have also insured their parents from American Family.
The coverage from American Family comes with an option of “diminishing deductibles“. Adding this option to your policy gets you a deductible credit of $100 on the first day of coverage. With each renewal, another $100 is added to your deductible (up to a maximum of $500). With this lower deductible, you have to pay less from your pocket in case you file a claim.
The company, despite its name, not only offers car insurance but also a renter insurance policy. The renter’s policy comes with an option of an upgrade to the Renters Plus package. It also adds coverage for loss from sewers and drains, spoiling of refrigerated foods, and waterbed liability. Another great feature is the replacement cost coverage facility. With this coverage for any loss, the company pays enough to buy a new product rather than a used one.
The company offers huge discounts to claim free policy renewals, on-time premium payment, and opt for paperless billing.
With their headquarters in Pennysylvania, Erie covers 12 states and Washington D.C. According to NAIC, the company also gets fewer complaints as compared to its size. The company offers many packages to add to the policy to safeguard from theft and sewer and drain backup. Erie also gives coverage for theft, liability, and damage even if the space is rented on websites like Airbnb.
Consumers get huge discounts on bundle policies from Erie or policy quotes within seven days of starting the coverage.
Farmers also offer a user-friendly website to ask for a quote or find an agent. The company not only offers industry-standard discounts on bundled policies, or having safety instruments installed at homes, but also offers special discounts and lower rates to professionals like doctors, nurses, teachers, etc. Renters also get to save on premiums if they have not smoked for at least two consecutive years.
There are many other renter insurance companies available, but these are the top few choices of people in the last few years. These are reliable renters insurance companies that have gained people’s confidence and faith over time. You can get more information about their renter policies, coverage, and discounts from their respective websites or agents near you.