State Farm Renters Insurance Review 2022: What to Know – NerdWallet

While State Farm is best known for being the area ’ sulfur largest car insurance company, it besides offers quality renters policy. With few customer complaints, the ability to file and track claims online and an abundance of coverage options to choose from, State Farm ’ mho renters insurance is one of the best available .

How we rate renters insurance companies

Our star ratings are based on consumer ailment data from the National Association of Insurance Commissioners ; fiscal strength grades from AM Best ; coverage and discounts available ; and the overall consumer feel. See our criteria for evaluating renters insurance companies .

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State Farm renters insurance pros and cons

Pros Cons
Includes inflation coverage . few discounts available .
few customer complaints for a party of its size .

How State Farm renters insurance rates

4.5 NerdWallet ‘s ratings are determined by our editorial team. The scoring rule takes into account consumer complaint and customer gratification data . NerdWallet rat state farm renters indemnity earned 4.5 out of 5 stars for overall performance. NerdWallet ’ south ratings are determined by our editorial team. The renters policy scoring formula takes into account policy coverage options and discounts, comfort of filing a claim, web site foil, the fiscal intensity of the party, ailment data from the National Association of Insurance Commissioners and more. Based on these ratings, State Farm is among NerdWallet ’ sulfur Best Renters Insurance Companies for 2022.

State availability

State Farm offers renters indemnity to newfangled policyholders in Washington, D.C., and every department of state except Massachusetts and Rhode Island.

State Farm renters insurance coverage

Landlords sometimes require tenants to purchase a policy with a minimum come of renters indebtedness indemnity, but differently, the coverage you choose is broadly up to you. Below are the four types of coverage included in most standard renters policies :

character of coverage What it does
personal property Covers your invest, furniture, electronics and early belongings .
Loss of use Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs .
liability Pays out if you ‘re responsible for injuries to other people or damage to their property .
aesculapian payments Covers injuries to other people in your home, regardless of fault .

For more details, see What Does Renters Insurance Cover ? In addition to these standard options, you can customize your State farm renters policy policy with other types of coverage. successor cost coverage can be included in every State Farm renters policy policy. This covers the current market value of your belongings, careless of how much they depreciate — compared with a criterion policy, which covers the actual cash rate of lost or destroyed items. inflation coverage is included in State Farm renters indemnity. This freebie takes ostentation into explanation and adjusts your personal property coverage consequently. Some personal property like jewelry, furs, silverware and firearms may be subject to coverage limits. Business property coverage is included in your State Farm renters policy. This provides up to $ 1,500 of coverage for property used for a commercial enterprise. For an extra price, you can add the stick to coverage options. You may need to buy some of them through a State Farm agentive role .

  • Waterbed liability coverage for damage caused by waterbeds .
  • Identity larceny coverage to pay costs related to identity fraud, cyberattacks or extortion .
  • Additional insure coverage. For an increase in price, you can cover non-residents who have a fiscal matter to in the property.
  • Sewer or drain backing coverage, which pays for damage to your belongings from urine backed up through sewers or drains .
  • Nurses ’ professional liability coverage for costs incurred through nursing activities by a register breastfeed, licensed virtual nanny or vocational breastfeed .
  • personal injury endorsement to pay for non-physical injuries, such as libel and aspersion .
  • earthquake coverage to pay for wrong caused by an earthquake, which renters indemnity alone won ’ thymine give .
  • extra business property coverage to protect any personal property you use for business purposes. Business liability coverage can cover injuries to others incurred in an agency or studio you rent .


State Farm offers two discounts for renters :

  • multiple policy discount when you bundle a renters insurance policy with a State Farm car indemnity policy .
  • home protective covering device discount if your rental has base hit devices, such as bolt locks, smoke detectors and antitheft dismay systems .

Consumer complaints

express grow had fewer than the ask count of home policy complaints to submit regulators relative to its size, according to three years ’ worth of data from the National Association of Insurance Commissioners. ( NAIC home plate indemnity complaints cover other home plate policy types, including mobile family, renters and condominium insurance. )

Consumer experience

web site : State Farm ’ randomness web site is easily to navigate and has detailed information on how renters insurance policies work. You can get a quote on-line, and even use a quote checklist to prepare for the process. The State Farm web site features a detail walkthrough of how to do a home inventory. nearby agents can be located using the State Farm agent search tool. State Farm ’ south web site is besides available in spanish. mobile app : The State Farm mobile app offers the ability to file and track a claim, adenine well as position and manage a policy. You can besides pay your monthly bill using Apple Pay or Google Pay.

State Farm vs. competitors

here ’ s how State Farm renters insurance stacks up against policies from early popular companies.

State Farm vs. Geico

express Farm sells its own renters policy policies, while Geico works with third-party companies to offer renters insurance. State Farm international relations and security network ’ t presently selling new renters policies in Massachusetts or Rhode Island, while Geico can find you a policy in all 50 states. Both companies have extra coverage options you can add to your base policy, but which ones are available count on where you live. ( With Geico, they besides depend on which third party underwrites your policy. ) Both companies offer a bundling discount rate if you buy car policy along with your renters policy. When it comes to filing claims, State Farm gives you more options. You can file your title on-line, through the State Farm app or by calling a dedicated claims line. With Geico, you ’ ll need to call the party that issued your policy. Learn more with our Geico renters indemnity review.

State Farm vs. Lemonade

Lemonade is one of the newest renters indemnity companies in the industry, founded in 2016, while State Farm has been around for a century. Lemonade takes a digital-first approach to indemnity, offering most customer service functions ( such as quotes, payments and claims filing ) through its app. State Farm besides has a robust web site and app, but it has a boastfully network of local agents for policyholders who want more personalize aid. Each party lets you add extra coverage to your base policy, though available options depend on where you live. They both besides have bundling discounts if you buy more than one policy. however, State Farm has a meaning advantage when it comes to consumer complaints. It ’ second tie fewer complaints to department of state regulators than expected for a company of its size, while Lemonade has drawn far more. Lemonade comes out ahead when it comes to the amphetamine of claims processing. Some of its claims are paid out about immediately after being submitted through the app. however, State Farm ’ s renters policies are available in more states than Lemonade ’ s. Learn more with our lemonade renters insurance review.

Renters insurance buying guide

Before you compare renters indemnity companies, meet key data such as the address of the lease and any safety and security features the unit has. You should besides figure out how much coverage you need. Take a flying armory of your belongings : How a lot would it cost you to replace them ? Include all furniture, electronic devices, dress, jewelry and family items. This total is the minimal sum of personal property indemnity you should have. Your indebtedness limit should be high enough to cover your internet deserving, while your deductible should be an sum you ’ vitamin d feel comfortable paying in an emergency. When evaluating renters policy quotes, make certain each rate estimate includes the like coverage limits and deductibles therefore you know you ’ re getting a fair comparison. While it ’ randomness alluring to buy the cheap policy, you may besides want to read reviews of your preferable company to make certain it offers good customer service.

How to file a renters insurance claim

File equally soon as it ’ second safe. The oklahoman you report a larceny or damage to your home, the preferably your insurance company can assign an adjuster and start working on paying out your title. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurance company alternatively. Have your policy phone number handy. Document the damage. Bolster your claim by taking photos or video of all price. If something was stolen, report it to the police before you contact your indemnity company. Your insurance company may ask for a imitate of their report. Prevent foster damage. After you ’ ve taken pictures of everything break or destroyed, take steps to prevent extra damage, such as putting a tarpaulin over a demote window to protect your belongings inside. Keep receipts for any supplies you buy, as your insurance company may reimburse you late.

Other renters insurance companies to consider

not ready to make a decision ? You may be matter to in these early renters indemnity companies : frequently asked questions What other types of policy does State Farm offer ? State Farm offers extra insurance policies, including homeowners, gravy boat, condominium and car indemnity . How can you file a renters claim with State Farm ? Claims can be started and tracked on-line, through the State Farm mobile app or by calling your State Farm agent. What early types of policy does State Farm extend ? State Farm offers extra policy policies, including homeowners, gravy boat, condominium and car policy.

How can you file a renters claim with State Farm ? Claims can be started and tracked on-line, through the State Farm mobile app or by calling your State Farm agent .

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