Renter’s Insurance

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Topic: Renter’s Insurance

General Discussion December 6, 2011 at 2:16 pm

Renter’s Insurance

Considering the uptick in breakins in the area I feel like it’s a good idea to finally get renter’s insurance. Anyone have any experiences with companies they love? How much do you pay? Have you ever had to make any claims? What’s covered in plans? Any advice would be much appreciated!

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I am actually a Insurance Broker and work with a number of different companies including Travelers, Encompass, Progressive , Chubb . We can provide you with multiple quotes for Renters or a Package Policy ( which is cheaper ).
Give us a call and ask for Hedda Silverman- She is wonderful!

I use State Farm with an add on for electronics. It’s been super easy and I’ve modified my coverage without hassle to cover 2 people when my girlfriend and I combined policies. Though, if you have car insurance, usually renter’s is easy to tack on with little cost.


 I also used State Farm when I was a renter and thus got a discount when I bought and got homeowner’s insurance. yes, it’s a good idea. I got it after my bike was stolen the first time.

I’ve had State Farm renters for ever. I got it when I still had a car & car insurance. I think it’s like 150 a year. I’ve never had to use it, so I don’t know if it’s a hassle or not.
But like @kaylee up there, I probably need to go over my coverage and up it since I’ve had the same coverage for quite a few years. My agent is Steve Rose in Rockville (since I first moved to Rockvilee before DC) and his office has been very helpful.

I’ve got Travelers coverage, who works in conjunction with Geico. I got a discount for going through Geico, and I beleive $50K worth of coverage for something like $135/year. It was a painless process working with an agent, and was all done in about 10-15 minutes.
Thankfully I have not had to use it, but the minimal cost is worth it even if just for the peace iof mind.

My first response got eaten so let me try again…
I had renter’s insurance with State Farm when I was burglarized. My rommate and I didn’t have much worth stealing, so we only got around $800 back, which covered maybe 80% of the cost to replace everything. Four years later when I was applying for homeowners my rates came up significantly higher because of that one incident. So I suggest you think not only about what the insurance would cover, but how a small claim might adversely affect you in the future. Renter’s insurance is cheap enough, but I’m not sure it was worth it for me personally.
By the way, I would strongly advise against using Traveler’s. My girlfriend’s mother had homeowner’s insurance with them for over 30 years, and never filed a claim until her basement flooded last year. After that they dropped her! They are similar to Geico in that regard.

I have State Farm, and it was very easy to sign up — never had to make a claim though.
After reading this thread, I realized that I don’t know if my policy covers the actual value of my items, or the replacement cost (see kaylee’s comment above). I looked through my policy and couldn’t understand the legalese, so I called the office of my agent. The person who answered the phone was pretty condescending and told me to look at my policy for the answer. When I explained that I had already tried that and wanted some clarification, she accused me of wanting to “get a new computer because the old one wasn’t working”. I told her that I had no intention of filing a claim, I just wanted to clarify what my policy covered. Even after giving her an example like kaylee’s, she told me she didn’t understand my question.
I might be switching my policy to an office/company that can deal with my apparent stupidity regarding insurance.

By all means, get renter’s insurance. It covers way more than break-ins. I live in a big apartment building and experienced a very destructive flood in my unit. Renter’s insurance paid for itself many times over, in having damaged items refurbished/replaced, and it paid for many nights in expensive DC hotels while our apartment was being restored.

I would reccommend looking at a compay perhaps you already do business with. I got my Renters insurance through my bank when I set up a new account. Most of the policies I have seen have been pretty comparable, and cost about the same, but its nice to work with just one entity for things.

A recent survey discovered that only one-third of respondents had rental insurance. While it’s probably a ploy to get more individuals to purchase rental insurance from, it does raise the question of why more people should at least think about this.

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