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Laura Berry

Former Insurance Agent

Former Insurance Agent

Joshua Adamson

Joshua is a copywriter at Obrella who for more than 10 years has been creating content about insurance, health care, and more. He helps companies explain complex insurance subjects in simple ways so that customers can make smart buying decisions. He spends way too much time binge-watching Netflix, loves the outdoors and has a cat who tolerates him.

UPDATED: Dec 11, 2023

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Who Has the Best Renters Insurance?

From the clothes in your closet to the pots and pans in your kitchen to TVs, cameras, jewelry, and furniture, your rental unit is home to a lot more than just you. In the case of property destruction or injury to guests, $184 annually, or $15 a month, and less than a $1,000 deductible can provide you with $30,000 to $50,000 worth of coverage. It’s these kind of numbers and facts that have motivated us to find the best renters insurance. And the winner is....Erie Insurance.

Erie Insurance:  Overall Winner

Our award for best renters insurance company goes to Erie Insurance and its ErieSecure Tenant Policy.  With the ErieSecure Tenant Policy, you can sleep well knowing you and your apartment are protected.  Here is what is included:

  • A candle torches your bedroom, a fire in your kitchen causes smoke damage, or a vandal breaks in–personal property coverage helps pay for any lost property or damages done.
  • Heaven forbid someone hurt themselves while visiting you, but if it happens ErieSecure’s medical payments can be there to save the day.

We’ve based this on its recent recognition in JD Powers’ U.S. Household Insurance Study, where it took home the gold medal.  Using consumer insights, JD Power measures customer satisfaction in four categories: policy offerings, pricing, billing and payment options, and customer service. Here is how Erie scored on its way to earning the spot as the best insurance provider.

Erie's Rankings in the Renters Insurance Satisfaction Study

5

4

5

4

5

Source: www.jdpower.com

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Nationwide Insurance:  Honorary Mention

We had to give the honorary mention, and second place award to Nationwide Insurance. Not only did it get five stars in overall satisfaction, its policy offerings, and its pricing, but it provides coverage across nationally through affiliates or in-house.

Here is how it measured up in JD Power’s 2015 Renters Insurance Satisfaction Study:

Renters Insurance Satisfaction

5

4

5

3

3

Source: www.jdpower.com

Farmers Insurance:  Best For Discounts

It’s no surprise that customers love saving money–especially when its not at the cost of a great product.  Farmers offers a number of options to renters it insures.  Here is how you can save:

  • Have a smoke detector or home security system?  Hopefully the answer is yes for everyone when it comes to the smoke detector.  Farmers offers reward you just for you taking the necessary precaution to protect your home.
  •  Are you a non-smoker?  Your healthy habits could save you on your annual renters insurance premiums.
  • Occupational Discount.  Public service professionals such as doctors, teachers, firefighters, and more–this is for you.  One way Farmers says “thank you” is by cutting your cost of renters insurance.

Allstate Insurance:  Best For Mobile Customer Experience

The Digital Locker® app, is Allstate’s in-house app that allows you to inventory all of your belongings so that you can file a claim faster if you find yourself in a disaster.  Features that make it standout in the industry include:

  • Allows you to organize your valuables by room as well as estimate the value of your belongings
  • It’s free, and available to both iPhone and Android users.  It’s average user rating of 3.7 out of 4 stars speaks for itself. While it has bugs–what app doesn’t–Allstate is proactive with hearing consumer concerns and addressing them quickly.

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American Family and State Farm:  Best For Customer Experience

Joining Nationwide and Erie Insurance, American Family and State Farm also scored  five star ratings for its customer service experience in JD Powers’ 2015 Renters Insurance Study.  If customer experience tops your checklist for must-have’s in an insurance provider–these are our recommendations.

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