Renters Insurance | 2020 Ultimate Insurance Guide – Get our quote now

Renter's insurance is a type of insurance policy for people who rent an apartment, condominium or other type of house and want to protect their personal property from accidental damage, break-ins or other covered losses; be covered for personal liability coverage if something happens to a guest on his rental property; and be reimbursed for extra living expenses if they have to move temporarily after a catastrophic event. Although renter insurance isn't complicated, if you haven't purchased it before, you may need help. Below, we will explain what renters insurance is, how much it costs and how to buy it. We will also link to other guides with more detailed information on various key topics. This guide contains the following sections: Best Renter Insurance Companies We have listed the top 10 renter insurance companies below. Follow the links in company names to read our full reviews. You can also read more about Best Renters insurance companies here. The best insurance companies for renters in 2020 USAA4 company out of 5 Sample monthly cost N / A A.M. Best A ++ Rating Learn More Learn More »USAA4.1 out of 5 Company N / A Sample Monthly Cost A ++ A.M. Best ratingRead more »More informationCheaper renter properties Below are the five cheapest renter insurance companies in our ratings. Follow the links in company names to read our full reviews. You can read more about the cheapest renters insurance companies here. What is renter insurance and how it works appliances such as microwaves that are not integrated into the unit. In addition, renters insurance covers personal injury and related attorney fees if a person other than a family member is injured in or on the rental property. Finally, if you need to get out of your unit due to a hurricane, fire or some other covered event, renters insurance will refund you for extra living expenses such as a hotel room and meals outside. It doesn't matter what type of rental property you own; whether it's a condominium, a townhouse, an apartment or another type of home, renters insurance will cover you. As for renters insurance, some owners may request it. Even if yours doesn't, the Insurance Information Institute recommends that all renters buy it. The landlord's insurance policy only covers the building and will not protect you or your belongings if something happens. In addition, renters insurance is relatively affordable. How can I purchase renters insurance? Since renter insurance is fairly cheap, it's probably best to select an insurance company you're comfortable with and sell an insurance policy that meets your needs, rather than simply going with the cheapest policy you can find. . If you already have life insurance, auto insurance or some other type of policy, start with that company. United Policyholders notes that to attract and retain customers, many insurance companies offer insurance packages if you purchase more than one type of policy, otherwise known as a multi-policy discount. However, it is also important to ask around. Find out which rental insurance companies your family and friends use and talk to a real estate agent if you know one. Insurance quotes from online renters are available on the websites of many insurance companies, which helps to make comparative purchases. Remember to get renter insurance quotes for the amount of renter coverage you actually need, based on the value of your property, weather hazards in your area, and other factors. According to the Federation of American Consumers, you also want to choose a company with good customer service, which will help minimize the hassle in the event of a complaint. How much insurance do I need to determine the insurance coverage you buy, take home an inventory of all your belongings and note how much they are worth. Use an approximate figure if you don't have any receipts. For expensive jewelry or other particularly valuable items, it may be necessary to purchase an insurance policy for additional renters or an additional policy with higher coverage limits. In addition, you will need to decide which type of property coverage to buy: a real money value policy or a replacement policy. A real money value policy will refund you for the depreciated value of your assets if they are damaged or destroyed. For some items like electronics, this means that you won't have enough to replace them with new ones. On the other hand, for a little more money, a substitute value policy will provide enough money to purchase new comparable items. For this reason, most people would be better off benefiting from a substitute value policy. Most renters' insurance policies generally cover the same type of loss, such destruction of personal property and the reimbursement of temporary living expenses if you have to go out because of a covered loss. Renter's insurance also provides liability coverage if a guest has an accident on the property. However, the policies vary in their details and these differences may be important for your situation. Always compare coverage carefully when buying a policy. Common covered leaks include things like fire damage, smoke, theft, vandalism, lightning, wind storms, explosions and water from internal sources such as water leaks. Renters insurance usually does not cover damage caused by earthquakes and floods from external sources. How United States News Renter Insurance explains what matters most to consumers, experts, and professional reviewers when it comes to renter insurance. We therefore provide an impartial assessment of the renters insurance providers available at the time of the review. Our goal is to provide consumers with the information and tools they need to make informed decisions. More information on our 360 reviews methodology for renter insurance companies evaluation is available. Other guides for renter insurers: United States. The 360 ​​reviews have an unbiased approach to our recommendations. When you use our links to purchase products, we may earn a commission, but this does not affect our editorial independence in any way.