What company has the best renters insurance? This list provides a great overview of the best renters insurance companies. The coverage provided by these companies includes protection against theft, fire, flooding, vandalism, and more.
Best Insurance Company for Renters Insurance
State Farm
State Farm offers nationwide renters insurance coverage at affordable rates with customizable policy options. In addition, multi-Policy discounts are available, as are discounts for installing a home security system. This insurer has an A++ rating from AM Best and an A.A. rating from S&P Global Ratings, thanks to its financial soundness and ability to pay claims. This is one of the best companies to get renters insurance.
MetLife
MetLife is another nationally recognized name that offers renters insurance coverage. Basic policies include coverage to repair or replace property, up the actual cash value. Additional coverage is available if you'd like to insure specialty items, such as electronics, musical instruments, luxury items, and sports equipment, for amounts up to $15,000.
American Family Insurance
American Family Insurance offers affordable coverage for renters that includes your personal property, medical bills, liability, replacement costs for stolen items, and hotel stays if you're unable to stay in your rental home because of a covered event. Add-on coverage is available for medical insurance for pets, jewelry can be covered up to $1,500, and you can also include coverage for a home office or home business space.
Farmers
Farmer's rates are near the top for claims satisfaction, according to J.D. Power. The company offers standard renters insurance policies, with discounts for installing home security systems and being a non-smoker. Coverage includes personal liability, personal property, replacement costs for personal property, medical payments, identity theft, and additional living expenses. In addition, policyholders can easily bundle renter's policies with auto, personal articles, and life insurance.
Nationwide
Nationwide offers basic renters insurance covering personal property, loss of use, personal liability, medical payments to others, building additions and alterations, and unauthorized credit card charges. You can also add on coverage for valuables and collectibles, earthquakes, water damage, and theft protection for personal belongings that are stored in a vehicle, trailer, or watercraft.