What to Know About Allstate Renters Insurance
Renter’s insurance may be optional, but it’s a must if you want to protect yourself and your belongings from unexpected events. Remember that your landlord’s insurance is for their protection and the protection of their rental property; it doesn’t cover your belongings or help you out if your unit becomes unlivable. You may recognize Allstate from their ‘Mayhem’ insurance commercials. Or you may recognize Allstate as one of the largest insurance companies in the US. Allstate is best known for its auto insurance policies, but it also offers renters insurance. Allstate renters insurance offers coverage similar to what other insurance providers offer. They insure your personal property, your personal liability, and provided additional living expenses. You’d be surprised at how cheap renters insurance can be – it is certainly much, much cheaper than what you’d pay to replace or repair your belongings in the event of fire, theft, or other unforeseen scenarios. Sorting through all the information that’s out there can be a chore but don’t worry, we’ve done the hard work for you. We’ll look closely at the details of Allstate’s renters insurance and how it stacks up to the competitors.
What Allstate Renters Insurance Covers
As we’ve said, Allstate renters insurance covers the standard categories: personal property, personal liability, and additional living expenses. Personal property coverage will help replace or repair your possessions if they are lost or damaged during a covered risk like a fire or theft. Allstate is a bit different in that it offers generous protection for items like jewelry. Most companies place a limit on their total reimbursement amount for a specific category of item, such as jewelry. Allstate, alternatively, will reimburse you up to $1,000 per item. Liability coverage comes in if you damage someone else’s property. It also includes guest medical coverage (if the expenses are reasonable and necessary) if someone injures themselves in or around your home. Liability coverage typically starts at $100,000. Allstate also offers add-ons like schedule personal property (for valuable items well up the standard policy limit), identity restoration coverage (a fraud specialist will help you if you’re a victim of identity theft), and personal umbrella insurance (for when you have a high risk lifestyle that may exceed the liability limit on your renters insurance). Your policy comes with a local agent who can help you with any questions and guide you through additional coverage options that may meet your needs.
Allstate renters insurance policies do not cover flood insurance. This is true for most insurance providers. However, they do offer a National Flood Insurance Program (NFIP) policy that you can purchase through Allstate agents. Allstate recommends flood insurance because even a small level of floodwater can cause upwards of $25,000 in damage. You can get flood insurance to cover building property for up to $250,000 or personal property for up to $100,000, though the NFIP suggests purchasing both types. Even if you’re not in a high-risk area, you might want to purchase flood insurance. A good portion of claims for flood damage come from areas that are considered low to moderate risk for flooding. Be warned of things that will not be covered by flood insurance, such as outdoor property, vehicles, and moisture or mildew damage that you could have taken steps to avoid. Basements may also be excluded from full or any flood insurance coverage. The average flood insurance plan will cost $700 annually, though it can vary considerably depending on where you live. Talk to an Allstate agent to find out if adding flood insurance to your renters insurance policy is a good idea for your situation.
Renters or homeowners insurance usually doesn’t cover damage your pet does to your personal possessions, such as a torn-up couch, or to your home and its structures, such as a chewed-up wall. Allstate’s renters insurance is no exception. However, your liability coverage can help cover damage your pet does to someone else’s interior or exterior property. Allstate follows the Insurance Information Institute’s ruling on this matter. It may also cover you in the event that your pet is responsible for injuring a guest. Liability coverage essentially works the same for you and your pet, as your pet is your responsibility and is one of the ‘risk factors’ of your lifestyle. Note that damage from insects and rodents is also not covered by renters insurance policies. Furthermore, domestic animals used for business farming would not be covered. Not all pets are insurable either. Your provider will often decline to provide coverage for exotic pets and certain breeds of high-risk dogs. They may also ask you for additional information to decide if your pet can safely be included in your liability coverage.
Allstate Renters Insurance Review and Costs at a Glance
We’ll start off with a brief review of Allstate as a renters insurance company. Allstate has more than 85 years of experience in the insurance business. They’re also known for providing a lot of optional coverage for their policies. They also provide a lot of resources to educate their customers, such as short and simple videos explaining different types of insurance. The Better Business Bureau (BBB) gives Allstate renters insurance an A+, while JD Power gives them a rating of 3/5, an average score. Their NAIC rating is exceptional, meaning they’ve received far less customer complaints than the average insurance provider. AM Best gave them an A+ (superior) rating for their company’s financial strength. The average Allstate renters insurance cost is $X.XX per year. As we’ve mentioned, Allstate renters insurance offers the usual base protection; it provides coverage for your personal property (furniture, jewelry, electronics, and so on), your personal liability (for damage to other properties and injuries sustained by guests), and additional living expenses, which covers things such as hotel bills when your home becomes uninhabitable and you’re forced to temporarily relocate. We’ll go over your Allstate coverage options more in-depth in the next section.
| Allstate Renters Insurance Stats Overview | Figures |
|---|---|
| Average Cost in the U.S for Allstate Renters Insurance Annually | $148.56 |
| Average Cost in the U.S for Allstate Renters Insurance Monthly | $12.38 |
| Allstate Renters Insurance JD Power Rating | 3/5 |
| BBB rating for Allstate | A+ |
How Much is Renters Insurance Through Allstate in Your State
The question on every tenant’s mind is “how much is renters insurance through Allstate?” Price is one of the key deciding factors for tenants looking at renters insurance. Renters insurance rates will vary based on factors like your credit history, deductible amount, and the location of your rented home. On average, renters insurance from Allstate is $X.XX per month. The most expensive state for renters insurance from Allstate is Oklahoma, with an average cost of $X.XX per month. The least expensive state is Delaware, with a significantly lower cost of $X.XX per month.
How to Get a Allstate Renters Insurance and Auto Insurance Discount
You’ve started to seriously consider investing in Allstate renters insurance. First, you’ll want to know about Allstate renters insurance discounts. Allstate offers various discounts to make their renters insurance even more affordable. Their safe home discount provides up to 15% off your premiums if you install safety devices like a security system or fire alarms. Their easy pay plan will cut up to 5% if you set up your payments for automatic withdrawal from one of your bank accounts. If you’re retired and 55 years of age and up, you can get a discount of up to 25%. Like many other providers, they offer claim-free discounts of up to 20% if you’ve never made a claim with previous providers. They also offer bonus savings for every year you remain claim-free. Perhaps one of the easiest discounts to get is the multi-policy or bundle discount. If you bundle auto and renters insurance with Allstate, you can save a bundle (see what we did there?). When you purchase an insurance plan from Allstate, an agent should ask if you’d like to bundle your policies together. If they don’t, you can always speak with an agent to talk about what renters discounts and savings you’re eligible for.
How Much Does Allstate Renters Insurance Cost Versus Competitors
So how much does Allstate renters insurance cost in comparison to their competitors? Allstate’s most expensive competitor is The Hartford. Their average insurance cost comes in at an extra $X.XX per month. Alternatively, Allstate’s least expensive competitor for renters insurance is AIG, with a considerable difference of $X.XX less per month for insurance premiums. Don’t forget that these are only averages and may not represent quotes in your area or for your specific circumstances. Rates are calculated based on numerous factors. Always provide as much information as possible to make sure your quote is accurate.
Getting in Touch with Allstate Renters Insurance
Filing a claim with Allstate is designed to be simple and convenient. Allstate offers to guide you through every step of the way. Most claims can be filed through Allstate’s My Account. You can register or login from the claims page. Other claims have special forms or numbers to call. Allstate even provides a mobile app that you can use to file and track claims from your phone. You may choose to contact your local agent to file a claim in person or file your claim over the phone. There are five basic steps for filling an Allstate renters insurance claim. The first is to file a claim using one of the methods we’ve listed. The second is to speak with a member of the homeowners claim team. Then, the claim will be evaluated. You can review your estimate and have your adjuster explain or answer any questions. Lastly, you finalize your claim to receive your settlement. Allstate asks that you provide them with as many details as possible, including what happened, when, and where. You should also let them know if anyone was injured. Reporting your claim as soon as possible is recommended. Allstate also requires that you make a police report if a theft has occurred.
The next thing to know is how to get an Allstate renters insurance renewal. Typically, insurance plans will be renewed every year. Most companies send a notice a prior to renewal. Some providers will offer discounts on your premium if you set up an automatic renewal plan or extend the date of renewal past one year. Allstate offers a monthly payment plan that asks for a two-month down payment up front in order to avoid a potential lapse in coverage. When it is time for renewal, Allstate delays the first automatic payment by eight days to give you time to go over the renewal offer. It’s a good idea to take advantage of this opportunity to make sure your policy is still working for you. It can be too easy to become complacent when payments are being automatically withdrawn. Always check your renewal offers to see what’s changed. You may even be able to negotiate your offer if you speak with an Allstate agent. To cancel automatic payments or go over your renewal options you can always contact an Allstate agent.
You may need to know how to cancel your Allstate renters insurance. You may seek cancellation because you’re unhappy with Allstate’s services or renewal offer, you’re changing your insurance provider, you’re being added to your partner’s insurance, or you’ve stopped renting. The best time to cancel is before your renewal date or before your next payment is due. Unlike many of their competitors, Allstate will not allow you to cancel your renters insurance policy unless you call to speak with an agent. There are no online or initial written options. Have your policy number on hand. Your agent will ask you to make a written request in order to cancel your policy. They will also try to get you to change your mind about cancelling by discussing the options and discounts that are available to you. Some insurance companies will require that you pay a cancellation fee. If you cancel at one of the ideal times that we mentioned and give your provider enough notice they will likely waive this fee. You can also ask for a refund on your unused premium; again, this is accomplished easier if you don’t cancel in the middle of your policy term.
Getting a Allstate Renters Insurance Quote and Deciding Whether Allstate is Right for You
You can get a free Allstate renters insurance quote online. First you will be asked to enter your zip code. Then you will be asked to enter your name, date of birth, gender, and marital status. After that you’ll be asked for your address and contact information (email address and optionally phone number). After that they’ll verify your information in order to provide you with a customized quote. It should take no more than a few minutes, but you can always speak to an agent if you prefer. We’ve gone over everything you need to know to get a quote from Allstate and what you can expect from your Allstate renters insurance policy. We suggest shopping around and comparing quotes and coverage options from multiple providers. Take the time to go over your options – don’t settle for the cheapest choice right away. Make sure you’re getting all the coverage you need from a company you’d be happy to work with. Doing the work now will help you find a provider that meets your coverage needs, has affordable pricing, and is rated well for customer service and satisfaction. We’ll leave it up to you to decide if Allstate is that provider.
