Allstate Renters Insurance Overview

Allstate Insurance provides coverage to over 16 million households in the United States, which makes it the largest publicly held property and casualty insurance company in the country. Allstate was founded in 1931 and, as of 2016, has $104.7 billion in assets. In 2014, Allstate Corp. was the second largest writer of home insurance policies by volume ($7.7 billion) behind State Farm.

Renters insurance provides coverage for the personal property of tenants. Most homeowners insurances do not cover the items of tenants. If there is a theft or a fire in your home, your landlord’s policy will probably not cover your personal items or damages for which you are liable.

What Are Allstate Renters Insurance’s Ratings?

Allstate has strong financial ratings with the leading rating companies. A.M. Best gives Allstate an A+ (the second best score out of 16 possible). Standard & Poor’s gives it an AA- (the 4th out of 22 categories). Moody’s Investors Service rates Allstate with an Aa3 (the 4th out of 21 possible categories).

What Coverage Does Allstate Renters Insurance Offer?

Renters insurance offers the following protection to tenants: 

-          Personal property coverage. This is the protection most people think of when considering renters insurance. It covers items damaged by a covered peril, such as fire, theft or flooding.

-          Scheduled personal property coverage. Renters insurance policies have limits on what it will pay for personal property coverage. Scheduled personal coverage provides additional coverage for expensive items, such as jewelry or pricey electronics.

-          Liability coverage protects you from legal expenses, damages, and medical expenses if somebody gets hurt on your property.

-          Guest medical coverage takes care of necessary and reasonable medical expenses, such as ambulance service or x-rays, if someone gets hurt on your property, regardless of whether there is a lawsuit.

-          Reimbursed living expenses coverage compensates you for the increase in living expenses caused by damages to your home. For instance, you may have to eat out or stay at a hotel while your home is repaired or cleaned.

-          Identity restoration coverage pays for damages when you are the victim of identity theft and assigns a fraud specialist to help repair the problem.

-          Flood insurance. Tenants may also consider purchasing protection from floods, the most devastating natural disaster in the United States.

What Discounts Does Allstate Renters Insurance Offer?

-          Safe home discount. Rental homes with qualifying safety devices and services, such as a security system or fire alarm, can receive up to a 15% discount.

-          Easy pay plan discount. Renters who sign up for automatic payments receive up to a 5% discount.

-          Multi-policy discount. Policyholders with an auto insurance policy can save when they add a renters insurance policy.

-          55 and retired discount. If you’re older than 55 and retired, you can enjoy a discount of up to 25%.

-          Claim-free discount. Customers who switch to Allstate and are claim-free can receive a discount of up to 20%.

How Does USAA Compare with Other Renters Insurance Companies?

Allstate is a financially stable insurance company that provides reliable and comprehensive coverage at reasonable prices. It has low deductibles and excellent customer service. Rating companies give it high scores, and it has a wide network of local insurance agents that help you decide what insurance coverage you need and are there when you need to file a claim.

  • Available 24/7 by Phone
  • Property Damage
  • Guest Medical Protection
  • Liability
  • Personal Property Protection
  • Reimbursed Living Expenses
  • Identity Theft Insurance
  • AM Best Financial Strength Rating
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0 votes

Had my apartment recieve water damage , I had a representative in claims that dragged the claim along 45 days

0 votes

I really like the low deductible of $250 that Allstate offers. Let's face it. If you're renting, you probably don't have a grand lying around to pay a deductible--especially after you've been broken into. I am feeling glad that I have a good insurance company and that I can pay the deductible if need be.

0 votes

They have a great estimate calculator that helps you estimate the value of your belongings, which can guide you in choosing your best renters insurance policy. I would suggest using it. I did and it really helped when I had some vandalism and filed a claim.

0 votes

If you've got a lot of really expensive stuff, then this company probably isn't for you, as they don't tend to cover as much as other insurance companies. If you are on the low end of having stuff like I am, though, they are perfect, as their rates are competitive and comensurate with what you own.

0 votes

I had to file a claim with Allstate recently for some damage to my apartment and resulting damage to some of my belongings. They were friendly and courteous and sent me my money so I could make replacements in a timely fashion.

0 votes

Allstate insurance is great. It has a great reputation and I know that I'll be adequately covered if and when I need the insurance. The only thing I didn't like is that they don't have as many discounts for certain things like other insurance companies, so you can't get the rate down much from what they quote you.

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