There are certain advantages to purchasing insurance from a big nationwide brand with local agents.
With a company like Allstate, you get financial security, a bounty of discounts, and one-on-one customer service alongside your policy.
Allstate might primarily be known for its home and auto insurance products, but the household name is also a top provider of renters insurance.
In our Allstate renters insurance review below, we’ll break down the reasons why you and your stuff are in good hands with Allstate.
Table of Contents
- About Allstate Renters Insurance
- Allstate Renters Insurance Coverage
- Pros and Cons
About Allstate Renters Insurance
Allstate has grown into one of the most familiar names in the insurance industry since its inception in 1931.
The company was founded by a true visionary, WWI vet and chairman of Sears Roebuck, Robert E. Wood.
Born out of the Great Depression, the company has always sought to help families protect what matters most, in good times and bad, with affordable insurance products.
In the subsequent decades, Allstate revolutionized auto insurance with its drive-in claims centers and discounts, as well as its inclusive hiring and training of women as agents in the WWII era.
As time marched on, Allstate expanded its lineup of financial products, which now includes the following:
- Home Insurance
- Renters Insurance
- Life Insurance
- Auto Insurance
- Pet Insurance
- Business Insurance
- Employee Benefits
- Retirement and Investing
- And more
Today, Allstate is in outstanding financial shape, touting an “A+” from A.M. Best. This credit rating means Allstate is highly likely to meet its financial obligations to policyholders.
Further, in 2019, Allstate reported $119 billion in assets. More specific to renters insurance, Allstate wrapped up the year with 34 million person property liability policies in force.
Solidifying its reputation even more, Allstate has an “A+” with the Better Business Bureau.
Allstate Renters Insurance Coverage
What does Allstate renters insurance cover? It depends. Allstate’s renters policies come with the basic types of protection below, as well as several optional additional coverages:
Basic Renters Insurance Coverage
- Personal property coverage: If any of your belongings (like your clothes, devices, or furniture) are damaged, destroyed, or lost to a covered peril, this part of the policy can pay to replace them, up to a certain amount.
- Liability coverage: If someone is accidentally injured at your home or apartment, liability coverage helps with the legal fees and medical expenses if someone pursues legal action against you.
- Guest medical coverage: Likewise, if someone is hurt at your property, guest medical coverage can take care of crucial expenses like an ambulance ride.
- Living expenses: If you can’t live in your home thanks to a covered peril, this coverage reimburses you for expenses like food and housing.
Additional Coverage Options
- Scheduled personal property: This additional coverage can provide further protection for expensive belongings like jewelry, pieces of art, or instruments.
- Identity restoration: This policy add-on provides you with access to a fraud expert who can help you take action if your identity is stolen.
- Flood insurance: Most basic renters policies don’t include flood protection. Fortunately, you can add this coverage with Allstate.
- Personal umbrella insurance: This coverage is ideal if you think you might need more liability insurance than the average applicant.
How Much Does Allstate Renters Insurance Cost?
Your renters insurance rates are based on more than just the amount of coverage you choose and the deductible you’re willing to shell out. Additionally, your rates will likely be determined by:
- Location: Your proximity to police and fire stations, the level of crime, and the frequency of natural disasters where you live could all be taken into consideration.
- Credit score: How effectively you manage debt can suggest how much of a risk you are to an insurer. The lower your score is, the higher your rates could turn out.
- Safety features: If your home has sprinklers or a security system, it could have a positive effect on your rates.
- Additional coverage: If you decide to add any bells and whistles to your renters policy, you can expect it to increase the cost of coverage.
How Much Is Allstate Renters Insurance?
The average cost of a renters insurance policy from Allstate is about $15, though that number could be higher or lower depending on the level of coverage you select and the other factors above.
To learn how much you would pay for an Allstate policy, you just need to submit your basic policy needs and contact information.
From there, you’ll be presented with a quote and can adjust your coverage and deductible amounts to meet your budget and preferences.
If you’re looking for ways to save on renters insurance, Allstate has you covered.
Take a look at the discounts they offer:
- Claim free discount: If you switch to Allstate without having filed a claim with your last insurer, you can save 20%, with an additional discount for every year claim-free.
- Easy-pay plan: If you opt into automated payments, you might save 5% on premiums.
- Multi-policy discount: Combining renters and auto insurance from Allstate can help you save on both.
- Retiree discount: If you’re at least 55 and retired, you could get up to a 25% discount on renters insurance.
- Safe home discount: Fire alarms and security systems could earn you 15% off on premiums.
Pros and Cons
Be sure to consider both the pros and cons of buying renters insurance from Allstate.
- Reputation: Allstate has an outstanding legacy of financial strength and exceptional commitment to customer satisfaction.
- Online Tools: Allstate’s online quotes, policy details, and educational information give you the resources you need to make an informed decision.
- Discounts: Allstate has more discounts than most, which are especially rewarding to those who choose to bundle renters and auto insurance.
- Additional Coverage: In addition to its basic coverage, you can tailor your policy to suit your needs with Allstate’s supplementary coverage.
- Exclusions: Floods and earthquakes are not included with Allstate’s basic policy, though you can add flood insurance.
- Quotes: To get quotes directly from Allstate, you’re required to provide both your email and phone number, which can lead to messages and calls from agents.
Alternatives to Allstate Renters Insurance
Allstate is an exceptional choice for renters insurance, but that can be said of a handful of renters insurance companies.
It’s wise to shop around and compare a number of options before landing on the right company.
Take a look at five of the top alternatives to Allstate as you continue your quest for renters insurance:
Is Allstate Renters Insurance for You?
Allstate is one of the leading insurers in the nation for renters insurance and beyond.
With availability in 50 states, superior financial strength, and great customer reviews, Allstate has earned its place among the best renters insurance companies.
Whether you’re looking for the bare minimum or you want to secure comprehensive renters insurance that protects you no matter what life might throw at you, Allstate is a strong choice.
With Allstate’s renters insurance, you truly are in good hands.
Take the next step by getting quotes from Allstate and other grade-A providers today.
Allstate Renters Insurance
- A.M. Best: A+
- BBB: A+