How to find best insurance rates?

More people are moving to cities and just about every apartment building now requires you to have renters insurance. With the growing popularity of renting, I did the research to determine which companies are the best for renters.

After analyzing several national and local companies, Allstate remains the best renters insurance provider in 2016. If you’re comparing the best rental insurance options in your area, the easiest way to get started is by getting multiple quotes. If you’re looking for home insurance information, I already shared my take on the best home insurance companies in a previous post.

Find the Best Renters Insurance Rates

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The Simple Dollar’s Top Picks:

1. Allstate
2. Nationwide
3. Liberty Mutual
4. American Family

Who Needs Renters Insurance?

To put it simply, if you’re currently renting an apartment or home, it’s in your best interest to get a renters insurance policy. It’s easy to get a free online quote and learn exactly what your rates will be. Once your policy is purchased, you then have the assurance of knowing your possessions are protected.

Some people mistakenly assume that a landlord’s home insurance policy includes coverage for your personal property. In most cases, this is not true. Chances are, your landlord’s policy does not cover your personal possessions.

College Students

Needing renters insurance as a college student depends primarily on where you live. If you live in a dorm or a rental unit close to your college campus, there’s a good chance you’ll be covered by your parent’s renters or homeowners insurance policy (assuming of course they actually have one of these policies). The same is not true if you rent a house or apartment off campus.