How can I find a good company that sells renters insurance?

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Asked May 7, 2013

1 Answer

Almost any insurance company that sells homeowners insurance also sells renters insurance. In fact, Condo insurance, renters insurance and homeowners insurance are all facets of the same type of coverage, called home insurance as group. But just because so many companies sell renters insurance, you will still need to do a little homework to find the best coverage at the best price. Instead of telling what company to use, though, it might be best to tell you what to look for.

Your first step is to get some quotes. Use this website to do that by filling out a simple form. Once the form is complete, you will be presented with both a quote from a featured company as well as comparison quotes from leading competitors. Even if you choose to buy from a company not quoted, you will have a ballpark figure for what the policy you need is going to cost.

Affordability is going to be important. But do not let the lowest price blind you to the best deal. Look for a policy that gives you more for your money, such as having higher limits for personal property or liability needs. Since most renters have more personal property than a default policy will cover, you might want to consider looking for the policy that gives you the best upgrade price to get that extra coverage. Remember, personal property in a home policy includes everything you own, not just your appliances and electronics. Personal property includes your lawn equipment, outdoor tools and collectibles, and even your clothes and the pictures hanging on your walls. If it belongs to you, it is your personal property and should be properly insured.

Next, look for an insurance company that is in good financial standing. You can check the status of many insurance companies on this website, but keep in mind that the ratings change and check for updates before you buy. To do that, use a company such as the A.M. Best financial ratings company. That company will provide you with an easy to understand grade scale that illustrates both the current financial rating and the long term outlook for the company.

Search for local renters insurance agents and compare multiple quotes.

Answered May 7, 2013 by Anonymous

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