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Assurant Renters Insurance : Is it your best option for you?

Based in Miami, the well-known insurance company Assurant reenters insurance, Inc. has been in business for more than 125 years, offering renters insurance policies in all 50 states.

Assurant reenters insurance is a financially stable company, receiving an A (excellent) rating from A.M. Best. However, its customer service seems to be hit or miss. Mixed reviews show a wide variety of customer service and claims processing experiences.

Assurant offers several different renters coverage options, meaning that there’s plenty of room for customers. To customize their policies to get the rates and level of coverage they need. You can select personal liability and property limits based on your personal needs and budget.

Assurant also offers a very low deductible of just $100 if you don’t mind paying a bit more for your premium—but you can also go with the more common deductible choices of $250 or $500 as well.

You might be happy with your online quote from a single provider, but it’s still a good idea to compare quotes with other companies. You never know what discounts or deals you could qualify for! It helps you get the best rate on your car, homeowners, or life insurance by comparing real quotes in real-time, personalized just for you.

Assurant reenters insurance: the basics

Here are the basics on Assurant renters insurance: what it covers, where it operates, how much it costs, and how to get a quote today.

What does Assurant renters insurance cover?

Assurant renters insurance spans three main coverage types: personal property coverage, liability coverage, and loss of use coverage. Let’s break those down.

  • Personal property coverage acts like a kind of umbrella warranty, protecting your personal property both inside and away from condominium, apartment, or rental home. Personal property coverage insulates you from costs associated with replacing or fixing personal property after accidents, theft, vandalism, or weather-related incidents. It includes items like musical instruments, jewelry, furniture, and other personal items.
  • Liability insurance coverage means that if a guest injures themselves or damages property in your rental property. Assurant will foot the bill for potential medical payments or replacement costs. For example, if a guest without health insurance trips and falls and breaks a bone in your apartment. Filing an insurance claim with Assurant may result in your liability coverage covering their medical expenses.

Loss of use coverage means that Assurant will pay for your additional living expenses if you need to leave your home and temporarily live elsewhere due to an insured accident or property damage. An Assurant renters insurance policy provides insurance coverage in exchange for a monthly premium. If a renter files a claim with Assurant, they’ll also need to pay a deductible. A certain out-of-pocket amount determined when you first accept your renters policy. For example, if your $2000 oboe was stolen from your apartment and your renters deductible is $500. You’ll need to pay the first $500 after filing a claim, and Assurant underwriters will cover the remaining $1500.

It’s important to note that there are coverage limits to most renters insurance policies: depending on which policy you choose. Assurant will only cover your financial losses up to a certain threshold, such as $20,000 or $30,000.

Additionally, like most Assurant renters insurance companies, Assurant renters insurance coverage does not cover property damage to your apartment. Or building from misfortunes like vandalism or malicious mischief, or weather events like floods, fires, or windstorms. Because your landlord owns the building that you rent, their own flood insurance or homeowners insurance should cover these potential incidents.

Assurant reenters insurance does offer optional add-on coverage options for specific events not covered in their general policy, like pet damage, sewer backup, or identity fraud/identity theft.

customer reviews

While some Assurant’s renters insurance customer reviews are positive, many mention poor customer service and a long wait for resolution of claims. Two positive Assurant renters insurance reviews featured on the company’s website commend the company for positive customer service experiences.

“I received the entire amount that I was entitled to PLUS I was reimbursed the $10 I had to pay to obtain the police report (which I was not expecting)”, one customer writes. Another praises their Assurant reenters insurance agent, writing that “My agent worked with me. Nicole sent emails and called. She was Very [sic] patient with me during this difficult time.”

Still, the company does receive a relatively low 1.05/5 customer review rating from the BBB. The vast majority of customer reviews are also negative in tone on Consumer Affairs, a verified customer review website. Frank of Rancho Cucamonga, California and Catanza of Hermanville, Mississippi both report difficulty getting in touch with claims adjusters. A complaint that was widespread among many other customer reviews from states like Georgia and New York.

“On 11/2/2020 I went online and started a claim”, Frank wrote in his review of the company. “They stated an agent would be in contact within two days (first lie). I had to called them [sic] and left a message on a voicemail. Got a call back on a Monday and the agent left a voicemail. I called back and left another message. Didn’t hear anything for two weeks. Then on 11/16/2020 I get a call from the number that the agent called me from so. I answered it and she just hung up on me.” Catanza describes a similar experience in her review, writing that “I was never contacted by the adjuster and he never returned my calls”

Average cost of Assurant insurance

Assurant doesn’t advertise a minimum renters insurance cost.  A single woman living in an apartment in New York City choosing Assurant’s recommended deductible and coverage limits––$250 and $100,000, respectively. Assurant produced an average renters insurance rate of $9.50. That’s a far cry from the national average of $15 per month, and much less than the typical home insurance policy.

 Geico charges at least $12 per month for its policies, and Allstate charges an average premium of $15 per month. The actual price of your renters insurance premium will vary based on where you live. What add-ons you select, your deductible, and other factors.

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