More than half of renters between the ages of 23 and 35 don't have renters insurance. This is a huge mistake as one accident or one thing going wrong can cost you everything you own.
If you don't have insurance, then now is the time to start shopping around with the best renters insurance. Not sure who is the best?
Follow this guide, and we'll help you find the best option for your needs.
What Makes Them the Best?
Before we get started, let's discuss what makes the best renters insurance the best. There is a combination of factors that make some companies better than others. These would include cost, customer service, claim service, and purchase service.
The average renter will pay about $185 in premiums. Use this to help you find a reasonable rate. Keep in mind that this is an average and the rate you are quoted will vary by geographical region.
You also want to look at the range of coverage the company provides. For instance, do they cover the items that you have in a storage unit?
USAA:
There is no arguing that USAA offers the best customer service and coverage around. The only catch is they only serve US military members, veterans, and their families.
If you qualify for their service, you won't find a more affordable and comprehensive plan anywhere else. Renters insurance includes lightning, earthquakes, flood, and windstorms. These are commonly excluded from civilian renters insurance plans.
Lemonade:
Do you need coverage right away? Lemonade makes getting renters insurance easy by downloading their app, getting a quote, and signing up for coverage. The entire process is simple and can be completed in a few minutes, faster than almost every other company.
They only offer insurance coverage in 17 states, so make sure they are available before you select them.
State Farm:
If you want cheap rates, then State Farm is where you should start. Along with the great rates, customers also enjoy decent customer service. They are a national company, so you are likely to find they offer coverage for your state.
The best part is you can customize your coverage and plan to fit your needs and budget. While you're at it, ask about bundling your services to combine your renters and car insurance.
Allstate:
If you have a lot of high-value items, then Allstate is a company for consideration. Be warned; they aren't the cheapest, and in some places, their rates are just plain expensive.
But what you pay for in premiums you get back in generous allowances for high-value items and water damage coverage. They will even cover your expensive jewelry.
Choose the Best Renters Insurance:
The best renters insurance is the one that is available in your state, affordable, and offers quality customer service. Carefully look at the coverage and make sure that it covers your needs like common natural disasters in your area or your storage unit.
While going with the cheapest option may be tempting, this can backfire when it comes time to make a claim. Often the cheapest options lack in customer service.
Now that you have your renters insurance taken care of, let's get your auto insurance sorted.
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