Assurant Renters Insurance Review

Assurant Renters Insurance Ratings at a Glance

Renters insurance is a great way to make sure your personal possessions are covered in the case of a loss. Many renters don't realize that their landlord's insurance only covers the building structure and any damage it might incur. Your personal belongings are not insured in that policy. That's why you need personal property coverage. But what renters insurance company should you choose? There are many renters insurance policies to choose from, and it's important to make the right decision.

One of the renters' insurance providers to choose from Assurant. Here is Bengina's review of the renters' insurance coverage offered by Assurant.

Assurant offers 2 policy options. But its liability-only coverage is available if you live in an Assurant partner property. 

The liability-only policy covers 2 types of liability:

• Property damage liability: This coverage protects you and members of your household if you damage someone else’s property. It also protects you if someone else damages your property. It only covers damage related to fire, water, smoke or explosions. 
• Personal liability: This covers guests who are hurt on your property. It helps to pay their medical bills and pays your legal expenses up to the limits of your policy.  

The advantage of a liability-only renters insurance policy is that it’s less expensive than a standard policy. But full coverage renters insurance policies are relatively inexpensive, so it’s best to look at both options before finalizing your decision. 

Assurant’s other renters' insurance policy covers everything a liability-only policy does, plus damage to your belongings.

If your belongings are damaged in an event covered by the policy, Assurant will pay to repair or replace them up to the limits of your policy. Assurant covers damage due to fire, lightning, smoke, explosions, theft, vandalism, windstorms, hail, ice, snow, sleet, falling objects, pipe bursts, cracked heating or air conditioning systems, frozen pipes and appliances, vehicle impacts, power surges, civil unrest, aircraft and volcanic eruptions. 

It also provides coverage for belongings not stored in your rental. For example, if there’s a fire at your storage unit, it would pay to replace your belongings up to the policy limits. It covers your belongings and those of family members who live with you. It also covers roommates as long as you list them on the policy. 

Assurant also covers mold. It will replace damaged belongings and bodily injuries related to mold for you and your family members. 

In short, Assurant helps complete your move-in checklist, ensuring that your landlord is content that you’re covered. There’s even a move-in checklist on the website, and you can check the amount of coverage you need with their proprietary calculator.

Additional Coverage

Assurant includes other types of coverage depending on where you live. In some states, it will cover your additional living expenses if you need to relocate due to a flood. If your power goes out due to a flood, it will help cover food expenses. 

Note that Assurant, like most renters insurance providers, doesn’t cover flood damage to your belongings. You need to purchase a separate policy. 

Assurant may also include coverage for food spoilage. If you have an extended power outage, the food in your refrigerator and freezer may spoil. This coverage helps with those costs, and it may help pay for additional living expenses if you can’t stay in your apartment. 

In some areas, Assurant includes bedbug coverage. These pests can be expensive to exterminate, and you may lose some of your belongings in the process. Assurant may help pay for living expenses if you need to temporarily relocate and for damaged belongings. 

Policy Upgrades

Depending on where you live, you may be able to add on these additional benefits from Assurant:

• Pet damage: If your furry loved one damages your rental, this coverage will help cover the costs. 
• Water sewage backup: If sewage backs up and damages your belongings, this coverage will help pay to replace them. 
• Earthquake: This coverage will help pay for your living expenses if you need to temporarily relocate due to an earthquake. 
• Identity theft: This protection helps you with costs related to identity theft. 
• Rent protection: If you lose your job, this coverage will help pay your rent while you get back on your feet. 

How it Works

Assurant pays the replacement cost of your belongings. Insurance companies typically offer either the actual cash value or the replacement cost of your items. You’ll be paid more with a policy like Assurant’s that pays the replacement costs. 

Here’s how it works. Let’s say you have a laptop that cost $1,500, and you bought it 3 years ago. If you were to sell it, you would probably get $1,000. If you wanted to buy the same model today, it might cost $1,300 because electronics prices tend to go down over time. 

If your laptop were destroyed in a covered event, Assurant would pay you the replacement cost of the item ($1,300) rather than the current value of the laptop ($1,000). Policies that pay for replacement costs typically pay more in benefits than ones that pay based on the actual cash value. 

Renters' insurance policies typically have a deductible, which is the amount you need to pay for damages before the insurance coverage starts. A higher deductible means that your monthly payments will be lower, but if something happens, you’ll need to pay more out of pocket. 

Renters' insurance policies also have limits. This is the most the insurance company will pay in benefits. The lower your limit is, the cheaper your coverage will be, but you’ll receive fewer benefits if something happens. 

Assurant offers early morning and evening hours for customer service, so you’re not limited to calling during the business day. You can call 800-432-8612 Monday through Friday from 8 a.m. to 8 p.m. EST. You can also manage your policy through your Assurant account. 

Assurant also makes it easy to file a claim. You can file a claim online or by calling 800-358-0600 from 8 a.m. to 8 p.m. EST Monday through Friday. Claims support isn’t available on the weekends. 

Assurant gives you multiple options to customize your policy. Some policy options are only available in certain states. You also have the option of purchasing liability-only coverage, but only if you live in an Assurant partner property. Essentially, you can trim your coverage as needed.

There is no mobile app for Assurant. Its website is optimized for mobile, so you can view it on your phone’s web browser when you’re on-the-go. If you need to file a claim, you can go to the FAQs and click the link that Assurant has provided to file a claim from your mobile device.

Assurant renters insurance offers standard coverage with some appealing extras, depending on where you live. It has evening customer service and claim hours, but you can’t reach Assurant over the weekend. 

Its liability-only coverage can save you money, but for many, paying a little extra to cover your belongings is worthwhile. You can also only buy liability-only coverage if you’re renting from an Assurant partner property. 

Remember, too, that Assurant offers quite a bit of solid information on its website. For example, is your property worth insuring? Assurant reminds you that it is because you may need to repurchase everything in the event of a total loss. Plus, you can easily add roommates to the policy instead of forcing them to get their own coverage (at great personal cost.)

You can conveniently buy a policy and file claims online, but you’ll have to do without a mobile app. Assurant is a good choice if you have roommates and want to add them to your policy for no extra cost or if you prefer to manage your insurance policies online.