Assurant insures 2 million people with renters insurance offering affordable coverage and easy access. Read on to see our review of this snappy provider.
Who’s Assurant Renters Insurance for?
It’s said that lightning doesn’t strike in the same place twice. Good thing, because once is enough! It’s these unknown variables that surprise you in life and make insurance a necessity.
You don’t have to be a homeowner to get insurance. Renters insurance is for people who live in a rented space such as an apartment, condo or house. College students who live away from home during the school year in student housing — in an apartment or a house — also benefit.
You can get insurance in 3 easy steps: Document your possessions, get quotes and enroll. Renters insurance includes personal liability insurance. Personal liability insurance covers you in the event your guest hurts themselves.
How much renters insurance do you need? That depends a lot on how much stuff you have. Be careful. You may not think you have a lot. Your computer, smartphone and TV could cost you around $5,000 to replace those if damaged or stolen.
Getting renters insurance is simple. For more background, get to know the best renters insurance as well as cheap renters insurance.
Assurant Renters Insurance Products
- Personal property coverage: This covers items you own in the event of damage or theft. You can choose $5,000 to $95,000 in personal property coverage. It’s important that you keep receipts, take pictures and document what you own. Additional living expenses are included in this coverage. Your policy also gives you the money needed for temporary shelter and food expenses.
- Personal liability coverage: This covers you if you accidentally cause injury to a guest while visiting. For example, if you’re an avid tennis player and your can of balls escapes from your bag and your friend trips on it and bumps their head on your coffee table, your covered. You can choose $50,000 or $100,000 in coverage.
- Extras: You can add a host of items to your policy such as the following:
- Replacement cost – This covers what it would cost you to replace your property rather than the depreciated value.
- Sewer or drain backup – Clogged drains or sewers can cause quite a mess and wreak havoc on your home. This covers the clean-up and repairs needed.
- Pet damage – Is your pet a little Houdini with separation anxiety who can bust out of his crate then scratch at the door when you leave? Pet damage will cover your expenses if they run over your pet deposit.
- Identity/fraud expense – It’s time-consuming and expensive to right the wrongs of identity theft. This coverage helps you make up for expenses due to attorney fees or lost wages.
- Earthquake coverage – Available to people living in California or Washington, this covers damages to your property as a result of a seismic event. The coverage amount is equal to your personal property limit.
Standard Assurant Renters Insurance Coverages
Standard coverage through Assurant includes personal liability protection and personal property protection. Personal liability protection takes care of you. Personal property protection takes care of your belongings.
Personal liability protects you financially in case you accidentally cause damage, such as a small fire from a candle left burning, a guest trips on one of your belongings, or your tub overflows and leaks into the apartment below you. Personal property protection protects items such as your clothes, electronics, jewelry, kitchenware and books if they’re stolen or damaged by something like smoke, water or vandalism.
Discounts and Tips on Getting the Best Rates
While there aren’t discount opportunities with Assurant renters insurance, you can lower your payment. The best way to lower your rate without sacrificing coverage is to make 1 payment for the entire year. Otherwise, you can choose to pay 3 times per year or monthly. Paying in installments adds $5 per payment in billing fees. Choosing to split your payment into installments can cost you between $15 and $60 per year.
Other ways to reduce your rate include lowering your coverages and raising your deductible. If you’re a minimalist and truly don’t have many possessions, then maybe you don’t need a high amount of personal property protection. Or, if you have built up a solid rainy day fund, then maybe you can afford to increase your deductible.
Common Assurant Coverage Selections
According to the Assurant quote tool on its website, popular coverage* options include:
- Liability $100,00, Property $25,000, Deductible $250, Replacement cost and sewer/drain backup options. This will cost you $19.25 per month or $231 per year.
- Liability $100,000, Property $15,000, Deductible $250, and Replacement cost and sewer/drain backup options. The cost is $16.09 per month or $193 per year. This is the most popular combination.
- Liability $100,000, Property $10,000, Deductible $250, and Replacement cost coverage. This will cost you $13.17 per month or $158 per year.
*Using apartment as the type of housing and 48823 as the zip code
In addition to renters insurance, Assurant is a big player in the extended warranty and protection plan arenas for technology and home appliances. That extended warranty or protection plan you’re offered by T-Mobile when you get the latest iPhone or that TV with the fabulous picture from Best Buy? It’s powered by Assurant. It also provides loan, home and personal property insurance as well as flood insurance.
Reviews for Assurant customer service are more favorable on its website than on 3rd-party sites such as consumeraffairs.com. Customers posting a negative review on consumeraffairs.com, however, are quickly contacted by an Assurant representative to resolve the problem.
You can reach Assurant customer service representatives live or online. To contact a representative, call 800-358-0600, Monday through Friday, 8 a.m.– 8 p.m. EST. You can also solicit support through its website Feedback button or after logging into your account, 24 hours a day.
You can file a claim or check the status of a claim online or over the phone. To file a claim online, go to www.myassurantpolicy.com. To receive claim support live, call 800-358-0600. An adjuster will contact you within 24 hours of filing your claim to review your policy coverages. Be prepared to share what you are claiming and what happened. You’ll also need your policy number, police or fire department report number and your landlord’s or property manager’s phone number.
Pricing and Value
If you were a 19-year-old female college student, you would pay $193 per year for $100,000 personal liability coverage, $15,000 personal property coverage, $250 deductible and replacement cost and sewer/drain backup coverage. Large, well-known nationwide providers such as Progressive and State Farm are within $10–$20 of this estimate. The latter 2 also offer discounts if you have other types of policies with them.
Assurant offers fair pricing and good value overall. While it doesn’t have a catchy slogan or primetime commercials, it does offer a lot of bang for your buck. Additionally, some larger companies such as GEICO act as a reseller of its policies; that is if you enlist GEICO for renters insurance, GEICO is actually selling you an Assurant policy. Going straight to Assurant cuts out the middle person.
A growing trend from insurers is to go green, and you’ll find that with Assurant — it is strong, secure and green. Assurant requires that its paper suppliers commit to responsible forestry practices. It offers many options to maintain a paperless relationship with its customers.
Assurant is financially stable and likely to be around longer than your need for coverage. It will not sell your personal information or share it with non-Assurant companies. Committed to keeping your personal information safe, Assurant employs state-of-the-art technology and an intense security infrastructure.
Below you’ll find Assurant customer support information.
Purchase a policy: 866-720-3213 Monday–Friday 8 a.m. to 10 p.m. EST
Submit a claim: 800-358-0600 Monday–Friday 8 a.m. to 8 p.m. EST
Contact Customer Care: 800-432-8612 Monday–Friday 8 a.m. to 8 p.m. EST
Assurant website support: https://www.assurantrenters.com/contact
Get a quote: https://www.assurantrenters.com
Email contact: https://www.assurantrenters.com/contact
Be Smart: Protect Yourself, Protect Your Stuff
Sure, material things don’t make one life more valuable than another. But, if we’re being honest, they do add a certain amount of comfort and convenience to life. That computer can help you find your ideal career. That phone keeps you connected with friends and family. The art adorning your walls adds beauty or provokes thought at a glance.
There is value in protecting your belongings as well as your finances. Renters insurance gives you peace of mind. When something happens out of your control, you’re covered. Who you enlist to have your back is up to you. Take stock of what you have, get quotes, and get a policy.
Protecting your stuff and yourself isn’t shallow, it’s smart.