Allstate Insurance Renter’s Policy

40's Couple In Apartment. Getty Images/Kelvin Murray

Allstate Insurance has been providing insurance products to its customers since 1931 and many of you may recognize the company as the ‘good hands people’ as relayed in its popular television advertising campaign. The company is the second largest personal insurer in the United States. It has a comprehensive line of insurance products including a renter’s insurance policy featuring customizable policy options and offering attractive discounts to policy holders.

Financial Strength

A.M. Best insurance rating organization rates Allstate Insurance with an “A+ Superior” rating. The company is also a Fortune 500 company and has annual revenue exceeding $32 billion.

Customer Service Ratings

According to a customer survey by Insure.com, customers gave Allstate an “A+” rating. Of the Allstate customers surveyed, 86 percent would recommend Allstate to a friend and 92 percent plan to review their current coverage. Allstate was given an overall satisfaction rating of 87 percent. The highest ratings were given for claims processing ( 4 ½ out of 5 stars) and customer service ( 4 ½ out of 5 stars). Allstate received a 4 out of 5 rating in the value for price category.

Allstate Insurance Renter’s Policy

If we lived in a perfect world where accidents never happen, you wouldn’t need protection for your personal belongings. However, since accidents do happen, you should know that your valuable personal contents in your rented home or apartment are not covered under your landlord’s insurance policy.

For adequate protection for your contents, you will need to buy a renter’s insurance policy.

The renter’s insurance policy available through Allstate provides these standard coverage options:

  • Personal Property Protection: This is protection for your personal valuables such as furniture, electronics, clothes and other valuable personal items.
  • Reimbursed Living Expenses: This option will allow you additional living expenses if your home is uninhabitable due to a covered loss to cover the cost of temporary accommodations.
  • Liability Protection: This protects you from being sued if someone is injured while at your rented home or apartment.
  • Guest Medical Protection: Provides medical payments to anyone not living with you who is injured at your residence.

The Allstate renter’s insurance policy has deductible options as low as $250 with a maximum deductible of $1,000. You can option property coverage up to a maximum of $150,000 with a liability insurance maximum coverage amount of $300,000. Discounts include multiple policy discount, burglar alarm, fire alarm and sprinkler system discounts.

Getting a Quote

The Allstate website is very helpful and user friendly in explaining coverage options and offering you the ability to get a quote online. To obtain a renter’s insurance quote, you begin by entering your personal information including name and address, date of birth, telephone number and your email address (optional). 

Next, you provide information about how long you have lived at the residence and how much renter’s insurance coverage you need.

You will need to provide information about your past property insurance coverage you have had and any claims within the last five years. The company also wants to know if you operate a business out of your home.

You should keep a record of your valuable personal items to verify their worth in the event of a claim. Allstate offers a Home Inventory Tool and also an iPhone application that will help you access and record a history of your personal items. Another beneficial website tool is the coverage calculator to help you determine the value of your belongings.

Once you have your renter’s insurance quote, you can choose to save it while you do more comparison shopping or you can continue with the purchasing process.

Pros and Cons

Pros

  • Excellent financial strength ratings
  • 24/7 claims service online or by telephone
  • Attractive discounts including multiple policy discount and discount for safety features
  • You can buy multi-lines of coverage through the same company
  • Customizable coverage and deductible options

Cons

  • If you visit an Allstate locate agent to receive a quote, you will not have the ability to comparison shop as Allstate agents are captive agents, meaning they only offer Allstate insurance products.
  • Some discounts and policy options may not be available in all states.

Contact Information

If you wish to receive a quote for a renter’s insurance policy or to learn more about Allstate and its insurance products, you may visit the Allstate Insurance website or call 1-800-ALLSTATE (1-800-255-7828).