Lindsay is a widely published creator of auto insurance content. She also specializes in real estate, banking, credit cards, and other personal finance topics.
John Leach Senior Insurance Copy EditorJohn leads Insurify’s copy desk, helping ensure the accuracy and readability of Insurify’s content. He’s a licensed agent specializing in home and car insurance topics.
Updated April 13, 2022
Reading time: 4 minutes
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While landlords have homeowners insurance policies that cover your home in case of certain types of damage, your landlord’s policy won’t cover your personal property, and they might not reimburse you if you need to live somewhere else temporarily. That’s where renters insurance comes in. Renters insurance provides three basic types of coverage:
Renters insurance offers essential protection against high bills, so you shouldn’t go without. It’s very affordable, costing an average of just $180 per year. And you may be able to cover your cost if you can save money on your auto insurance. Getting cheap car insurance doesn’t necessarily mean lowering your coverage limits. You may be able to get the same coverage you have now at a cheaper rate if you use Insurify to compare customized premiums across insurance providers. It takes just a few minutes and could save you enough to cover your new renters insurance policy.
Furthermore, your rate might vary from one renters insurance company to the next. While Insurify doesn’t currently allow you to compare renters insurance rates, we plan to introduce that capability in the future. In the meantime, we’re still dedicated to helping you find the right insurer for your needs. To find out if an Allstate renters insurance policy is right for you, read this Allstate renters insurance review.
Before Allstate pays your claim, you’ll need to pay a deductible. Your policy will also have coverage limits, so it’s likely that not all your personal belongings will be covered. You may need to add scheduled personal property coverage for things like fine jewelry or art.
Like most renters insurance companies, Allstate covers personal property damage and theft, liability costs, and additional living expenses. When you sign up for an Allstate policy, you can choose whether you want coverage for your items’ actual cash value or the replacement cost.
If you choose the replacement cost (also known as a reimbursement provision), you’ll be covered up to the cost to replace the item, as long as it falls within your coverage limits. Allstate will first write you a check for the actual cash value of the item. Since most items depreciate in value, that’ll be less than what you paid for the item. Once you replace the item, Allstate will reimburse you for the remaining cost.
Allstate also provides family liability coverage, so if your child injures someone else or damages property while playing at a friend’s house, your legal fees may be covered. And the included guest medical protection will pay for medical expenses if someone is injured while visiting your property.
Allstate offers the following discounts to policyholders:
If you like to travel, you’re in luck: Allstate renters insurance is available for residents of all 50 states.