Key Takeaways ; Coverage typically includes loss or damage to items in the home caused by fire, electrical malfunctions, vandalism, theft, and plumbing. Personal liability coverage protects you from legal and medical expenses if someone is injured in your home or if you accidentally damage someone else's property. Actual cash value (ACV) coverage reimburses the depreciated value of your damaged items, while replacement cost coverage (RCV), doesn't take depreciation into account when determining the value of your belongings.
You host a party in your rented home. A guest slips in your bathroom, hits her head on the edge of the tub, and is rushed to the hospital. ; While visiting the home of an acquaintance, you accidentally knock over and break an expensive porcelain vase. ; Your rambunctious five-year-old dumps a milkshake on a new laptop on display in an electronics store, destroying it.
Company, Best for, Average annual cost, A.M. Best ; Allstate, Older renters, $258, A+ ; American Family, Customer satisfaction, $366, A ; Lemonade, Ease of use, $181, NA ; Liberty Mutual, Bundling, $290, A ; Progressive, Discounts, $272, A+ ; State Farm, Lowest cost, $156, A++ ; USAA, U.S. military and their families, NA, A++ ; Erie, Optional coverages, $276, A+
Lemonade Pet Insurance ; Max annual coverage · $5,000 to $100,000 ; Reimbursement rates · 70% to 90% ; Deductible choices · $100, $250, $500, or $750
Sharing renters insurance with your roommate can save you both a few bucks, but it may not be the wisest decision in the long run. Here’s why.
This influences which products we write about and where and... Renters insurance can also cover the payment if someone files... Example: You start filling your tub for a bath, then get...
What types of renters insurance are there? · What affects the cost of renters insurance? · What does renters insurance cover? · How do I compare renters insurance? · What can I be covered for? · Three traps to avoid · How does renters insurance work? · What are the key differences between renters and landlords insurance? · Does renters insurance cover me for damage caused by my pets? · Common questions about renters insurance
Quick Look: Best Renters Insurance ; Best for Digital Sign-Up: Lemonade · Best for People With Side Hustles: Toggle · Best for Discounts: Progressive · Best for High-Value Items: AllState
Renting an apartment or a home? Renters insurance can help protect your belongings. It’s reasonably priced, too. Contact an ERIE agent to get a quote.
Coverage type, Personal property ; Personal property, The cost to repair or replace your belongings, such as clothing, furniture and electronics, up to the limits in your policy ; Liability, Repairs if you accidentally damage someone else's property or a guest's medical bills if you're found responsible for their injuries ; Additional living expenses, Additional costs you incur, like hotel bills, if the residence you rent is damaged and left uninhabitable