Renters insurance is often overlooked, but if you’re renting an apartment and think that you don’t need renters insurance, think again. While the structure of your rented unit may be protected by your landlord, your personal valuables inside your unit aren't protected. Renters coverage protects your personal items and also gives you liability coverage for certain accidents that may happen in your apartment.
Many renters are foregoing coverage and are not aware of the many providers that offer these policies and that they are generally very affordable, such as with USAA.
What is USAA renters insurance?
USAA is a top-ranked insurance company by the Clearsurance community that has been providing insurance services to people who are living on active military base and former military members and their families for nearly a century. It offers many different lines of coverage including car, homeowners, life, and more. However, keep in mind that this discount may not refer to all bases, so it's best to speak with a customer service representative to check if you qualify.
>>> Read more: Are you eligible for USAA insurance?
USAA ranked No. 1 for our best renters insurance companies of 2019. USAA renters policies cover your personal items and valuables for a number of reasons. Some of the most common things a standard renters insurance policy covers include fire and smoke, flooding, wind and hail storms, lightning, building collapse, earthquake, theft, vandalism, and more. USAA policies are unique in that flood and earthquake coverage come standard at no extra cost with a USAA policy. Other companies typically charge extra for these coverages.
Additionally, USAA covers explosions, damage from aircraft, riot damage, accidental tearing, cracking, burning and bulging, damage from artificially generated electrical current.
How much does USAA renters insurance cost?
USAA policyholders can pay as little as $10 per month for a renters policy. Insurance premiums are determined by the items that need to be covered, how much coverage you choose, and the amount of your deductible. If your deductible is higher, you can expect to pay lower monthly rates; however, you might have to pay a little extra in case you need to file a claim.
What are Clearsurance users saying about USAA renters insurance?
As of July 2019, USAA has a Clearsurance score of 4.77. (For the most up-to-date score and rankings, visit our renters insurance rankings).
Claims service is an important aspect of every company, and that is no different with a renters policy. If you have a claim, you want to have peace of mind that your company will help you every step of the way and settle claims properly, especially when it comes to getting your belongings repaired or replaced with personal property coverage. USAA renters coverage earned an almost perfect claims rating from Clearsurance users with an average of 4.8 out of 5 stars as of publication.
About a quarter of Clearsurance USAA renters insurance policy reviews discussed ease — reviewers frequently commented on how easy it is to use USAA’s services and understand their renters insurance policies whether that was personal property coverage, replacement cost coverage, liability coverage, or something else. One reviewer said, “USAA makes it easy to start Rental Insurance and even help you out by telling the different ways you can reduce your out of pocket expenses. For example, our agent helped us out by asking us if we had a fire extinguisher and sprinklers installed within our apartment.”
An issue that some policyholders often have with their providers is that their rates increase and they don't know why. Less than 1 percent of reviewers said they experienced a rate increase. Additionally, less than 2 percent of reviewers discussed miscommunication or said their renters coverage didn't live up to their expectations.
Can bundling USAA save you money?
The average price of a renters policy is less than $200 per year. While renters insurance is already cheaper than many other lines, such as car or homeowners coverage, there are several renters insurance discounts you may be eligible for.
USAA even allows you to save 10 percent on this type of policy if you bundle it with any other policies, such as auto. A reviewer commented on their bundling experience noting, “I love it because I can bundle my auto & my renter's insurance only $20 more and I don't have to think about paying it because it's with auto and deducted directly out of my bank account.”
How can USAA renters insurance help you?
Many people choose to rent without coverage, but they're risking their personal belongings and the potential of a liability claim. If anything were to happen to your items or if an accident happens in your apartment and you do not have renters insurance coverage, you could face a serious financial burden. Here are a few situations where Clearsurance users found that USAA's policies were helpful, saving them from a disaster that was out of their control:
One reviewer wrote, “We left early morning to run errands to only return two hours later to a water leak in the house that had quick done $1000s damage. It was a rental and luckily we had rental insurance with USAA. They were fast and very helpful but the most important part is that actually cared how we were doing. It was great the level of support that we received.”
Another said, “We have USAA for renters insurance. So far the only thing we have had to use if for was for food when we experienced a power outage during a hurricane. We ended up without power and lost everything in the refrigerator and our deep freezer. USAA was very prompt in sending us the money to replace our food. USAA customer service is some of the best I have ever experienced.”
You can read other USAA renters insurance reviews to see why so many people trust them to insure their belongings. Take the important steps to insure your rented unit and give you peace of mind that you are protected.
Be sure to visit Clearsurance rankings page to help you find a renters insurance company that customers say is the best and cheapest in your state.
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