Allstate Renters Insurance Review and Prices
General Robert Wood, the president and board chairman of Sears, Roebuck and Co., decided to start an auto insurance company and sell policies by mail. This was in 1931. Today, the Northbrook, Illinois-based company is the largest publicly traded personal lines insurer in the country, with more than 113 million policyholders all over the world.
The sixth best renters insurance company on our list for 2023 is Allstate. Allstate has a network of agents in all 50 states and Washington, D.C., that sell renters insurance. But there aren’t many places to buy it in Massachusetts and Rhode Island.
According to our data, the cost of premiums is a little bit higher than with the other companies we rated, but those who want to save money can get discounts. For example, a policyholder might be able to get a discount if they bundle their policies or are 55 or older.
Allstate offers a few extras on top of the basic coverage, like help with identity theft, a personal umbrella policy, scheduled personal property, and flood insurance. On the website, people who are looking for renters insurance can get a quote.
What Does Allstate’s Renters Insurance Coverage Include?
A standard renters insurance policy from Allstate covers liability, protects the renter’s belongings, and pays for extra living costs if the rental unit is temporarily unlivable.
Coverage from Allstate renters insurance includes:
Your own things. This pays for the cost of fixing or replacing your clothes, furniture, and electronics, up to the limits of your policy.
Own responsibility. This pays for repairs if you accidentally damage someone else’s property or medical bills if a guest gets hurt on your property and the law says you are responsible.
Extra costs for living. This includes costs like hotel bills if your rental unit gets damaged and you can’t live there.
What other types of renters insurance does Allstate offer?
Allstate offers renters additional coverages, such as:
Recovery from identity theft. This helps pay for lawyer fees, lost wages, and other costs related to getting your identity back.
More protection for business property. This protects things you keep at home that you use as samples for your business or that you sell.
Personal property on the list. Even though a standard policy usually covers a renter’s personal belongings, it will only pay for some valuables up to a certain limit. Scheduled personal property is an add-on that can be added to a renters insurance policy. It covers more risks, like accidental loss, and may increase the limits of coverage on high-value items like jewelry or musical instruments.
Personal umbrella policy. A personal umbrella policy may help renters insurance policyholders avoid having to pay for medical or legal bills out of their own pockets if they are found to be responsible for damage. An umbrella policy protects you from liability beyond what regular policies cover.
Insurance for floods. Allstate has flood insurance, which you can buy through the National Flood Insurance Program as a separate policy.
How do I buy a policy from Allstate for renters insurance?
Allstate has a website where you can get a quote and buy renters insurance. You will be asked for basic information about yourself, like your name, birth date, and the address of the property you want to insure. You will also be asked about your job and the safety features in your home.
You may also be asked about your home and where you live, like if you run a business out of your home or live in an assisted living facility. If you want to talk to a real person about buying renters insurance or if you have questions, you can use Allstate’s agent locator to find an agent in your area.
How do I send Allstate a claim?
You can file a claim by calling Allstate, logging into your online account, talking to your agent, or using the Allstate mobile app. How long it takes to process a claim depends on how bad the damage is and how complicated the claim is.
Allstate suggests that you talk to your agent about how to protect your things by checking for any urgent repairs that need to be done. Also, it’s a good idea to write down everything and take pictures of the damage. Your agent can answer any questions you have and take care of any payments.
Allstate vs. State Farm
Both State Farm and Allstate, which have been around for a long time, have strong financial ratings from AM Best: A++ and A, respectively. Also, both have a large number of agents all over the country.
Our research shows that, on average across the country, State Farm is cheaper than Allstate. Policyholders with State Farm can also get a discount on their policy if they bundle their insurance or have security devices or systems put in their homes. People with Allstate insurance can save money if they are 55 or older or if they bundle their insurance.