Allstate was founded in 1931 during the depths of the Great Depression. During that time, visionary leader Robert Wood, a World War I general who was also the president of Sears, knew the country had a growing need for quality insurance products and sought to fill that need through his new venture.
These days, Allstate is a popular American brand that offers auto insurance, life insurance, and homeowners insurance policies. Not only are they known for offering low prices on a variety of products, they are known for the many customer discounts they offer as well as their famous slogan, “You’re in good hands.”
While home and auto insurance are two of the most common types of coverage families need to purchase, Allstate also offers renters insurance. This type of insurance aims to cover an individual’s personal belongings, furniture and valuables — but not the building they live in.
If you’re on the hunt for renters insurance and think Allstate may offer what you need, keep reading to learn more.
Allstate Renters Insurance: Key Takeaways
- Apply for a free, no-obligation quote online and without speaking to an agent.
- Get coverage for your personal property, personal liability, living expenses, medical expenses and more.
- Choose from add-on coverage that can help protection your valuables.
- Qualify for discounts that can make renters insurance coverage even cheaper.
Allstate Renters Insurance Review
Like other insurance companies that offer renters insurance, Allstate offers a certain level of base coverage with the option for customers to pay more for add-ons. Most basic policies include a range of coverages that can help protect your personal property like furniture, electronics and luxury items while protecting you against some of life’s “what ifs.”
Coverages offered in Allstate renters insurance policies include:
- Personal property coverage: Personal property coverage is at the core of renters insurance since it can repair or replace your belongings if they are stolen or destroyed. Items covered by basic personal property coverage can be clothing, electronics, family heirlooms, furniture and more.
- Living expenses: This coverage can reimburse you if you need to move because your rental becomes uninhabitable due to fire, vandalism or other factors beyond your control.
- Personal liability: This coverage can pay for legal expenses, medical bills and additional damages incurred if someone is injured on a property you rent and they sue you as a result.
- Guest medical: Guest medical coverage will kick in to pay for medical expenses when someone is injured on your property.
In addition to basic levels of coverage, Allstate lets you select special add-ons that can protect you and your personal belongings even more. Optional coverage includes identity restoration coverage that can help protect you from the financial consequences of identity theft. You can also pay more to cover high-priced belongings you want to protect such as expensive jewelry, audio equipment or camera equipment, or irreplaceable family heirlooms.
Flood insurance is also available (and suggested) to renters who are living in an area prone to flooding and the subsequent water damage. Finally, a personal umbrella policy can provide another layer of coverage that can kick in when all your other insurance is exhausted.
How to Get a Renters Insurance Quote from Allstate
One big benefit of getting a quote from Allstate is the fact you can complete the entire process online — and without speaking to an agent. All that’s required for a free, no-obligation quote is heading to the Allstate website and filling out some basic information.
As you prepare to get a free quote, you should plan to submit the following details:
- Name.
- Birthdate.
- Address.
- Marital status.
- Email address.
- Phone number.
- Property details.
- Claims history.
- Preferred coverage options.
Once you’re done with the application process, you’ll get a basic quote for renters insurance. From there, you’ll have the option to tailor your policy to meet your specific needs by adding on additional coverage, tweaking coverage levels or applying special discounts. You always have the option to speak with an Allstate agent if you want to, but you don’t have to.
Allstate Renters Insurance Discounts
Allstate offers several different discounts you can access if you are an existing customer, you own specific theft-prevention devices, or you meet other requirements. Here are the main Allstate renters insurance discounts you should know about:
- Multi-policy discount: Save on renters insurance when you bundle your policy with auto insurance coverage.
- Safe home discount: Qualify for a special discount if your home has certain safety features like a security system or fire alarms.
- Claims-free discount: Qualify for more discounts for remaining claims-free.
- Auto-pay discounts: Get a discount for setting up automatic payments or for paying your premiums upfront instead of month by month.
- Retiree discount: You can save up to 25% off renters insurance premiums if you’re over the age of 55 and retired.
How We Rate Allstate Renters Insurance
At The Simple Dollar, we aim to provide a general overview of each insurer’s products and services through a standard rating process. With that in mind, we considered policy offerings and overall customer satisfaction using J.D. Power’s 2018 U.S. Renters Insurance Study. We also measured financial solvency based on reports from A.M. Best., S&P, and Moody’s.
After a thorough research and discovery period, here’s how Allstate renters insurance policies stack up:
- Claims satisfaction: 2 out of 5
- Coverage options: 3 out of 5
- Financial solvency: 5 out of 5
- Customer satisfaction: 4 out of 5
- Overall rating: 3.5 out of 5
The Bottom Line
If you’re shopping for renters insurance, it’s smart to give Allstate another look. Not only do they offer renters insurance policies that provide a certain level of base coverage, you can pay for add-ons to protect the valuables you cherish the most.
Like all renters insurance policies, Allstate renters insurance may also be less expensive than you think. Get a free quote today and take the time to check out rates and coverage options from at least three other companies.
Related:
- Renters Insurance: Why It’s Worth It
- Best Home Insurance Companies
- Nine Signs It’s Time to Drop Your Insurance Company
The post Allstate Renters Insurance Review appeared first on The Simple Dollar.
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