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ByElizabeth Rivelli Contributing Writer

Elizabeth Rivelli is a freelance writer who has expertise in finance, insurance, entrepreneurship, and technology.

Allstate Renters Insurance Review

Allstate offers comprehensive renters insurance policies, with basic plans that include personal property coverage, additional living expenses, liability coverage, and guest medical coverage. Allstate also offers policy add-ons, like additional coverage for expensive items and even identity restoration coverage. And if you need flood protection or umbrella coverage, Allstate has options to choose.

The Zebra, an insurance comparison website, claims that Allstate offers average annual premiums, although keep in mind that your premium will depend on your individual situation. However, even if you receive a higher-than-average premium, Allstate offers customers additional discounts to help them save even more money. Renters can get a discount if they bundle their policies, have certain safety features installed in their home, and remain claim-free. Allstate is a great option for anyone looking to purchase renters insurance, but it's also ideal for students or people who don't own many high-value items. Allstate isn't a great option for people who have expensive or luxury items that need a special policy for adequate coverage.

Pros
Cons

Multiple discounts available
Available in all states
Limited coverage for valuable items

The Renters Insurance Factors We Analyzed

Customer experience

To evaluate Allstate's customer service reputation, we looked at real customer reviews from NAIC and J.D. Power's 2019 U.S. Property Claims Satisfaction Study. Overall, Allstate has a very low number of complaints and received three out of five stars from J.D. Power for overall satisfaction of claims handling. The company offers 24/7 phone support, and customers can download the mobile app to file a claim, get their insurance card, and make changes to their policy anytime. If you prefer to get help in-person, Allstate has agents in every state.

screen capture of allstate's sign-up form online showing how easy it is to navigate the process (background is a plain, featureless map of USA)

In J.D. Power’s 2019 U.S. Renters Insurance Study, Allstate is ranked as the fifth-best company for renters insurance, but it does earn a below-average score overall. While it scored well in claims handling, earning five out of five stars, it received just two out of five stars for overall satisfaction, price, billing, and customer service.

Coverage information

Allstate’s renters insurance policies aren’t as comprehensive as those from some other providers, but they offer enough coverage for the average person. All renters insurance plans from Allstate include personal property coverage, reimbursed living expenses, guest medical coverage, and liability coverage. Customers have the option of purchasing add-on coverages, like scheduled personal property coverage, identity restoration coverage, flood insurance, and personal umbrella insurance.

Deals, discounts, and add-ons

Like most insurance providers, Allstate offers discounts that can help customers save money on their annual premium. Specifically, Allstate provides discounts for bundling policies, purchasing safe home equipment, setting up autopay, being a retiree, and remaining claim-free.

Allstate Renters Insurance Overview: Financial Strength, Availability, and History

According to YouGov, Allstate is the fifth-most-popular insurance company, in part because of its reputation. The Better Business Bureau (BBB) gives Allstate an A+ rating, which is the highest rating available. Because Allstate operates its business in every state, it’s an accessible option to many renters across the country.

  • In business since: 1931
  • S&P Global financial strength rating: AA-
  • Moody’s financial strength rating: Aa3
  • A.M. Best financial strength rating: A+
  • States served: 50

The Competition

Overall Rank
Reviews.com Score
Customer Experience Score
Financial Strength Score
Allstate
4
3.3./5
3/5
4/5
USAA
1
4.8/5
5/5
4.3/5
State Farm
2
3.8/5
4/5
3/5
American Family
3
3.6/5
4/5
2.3/5
Nationwide
5
3.3/5
3/5
4/5
Farmers
6
3.1/5
3/5
3.3/5

All information accurate as of January 10, 2020.

The Bottom Line

If you’re looking for a solid all-around renters insurance company, Allstate is a great option. The biggest benefits of Allstate are its discount options and flexible policies. However, it’s not the best option for people that need coverage for expensive items or high coverage limits. We recommend Allstate for the average renter who is looking for peace of mind, knowing that their personal belongings are covered in the event of a disaster or break-in.

Allstate Renters Insurance FAQ

How much does renters insurance cost from Allstate?

Allstate claims that the average monthly premium for renters insurance from Allstate is $15. However, the price you’ll pay for a renters insurance premium from Allstate depends on several factors, including your credit score, your deductible, and the total estimated value of your items.

What is typically covered under Allstate renters insurance?

Allstate’s renters insurance policies cover a range of common perils, including fire and smoke, burglary, vandalism, water damage from plumbing, furnace/AC, and water heaters, as well as extreme weather. If a guest in your home gets injured or you accidentally damage someone else’s home, you’re covered under Allstate’s liability and guest medical coverage.

Can you cancel Allstate renters insurance?

Yes, you can cancel your Allstate renters insurance plan for free, but it must be done through a live agent.

How long does it usually take to buy Allstate renters insurance?

You can get an online quote and purchase a renters insurance plan relatively quickly. Your coverage can start as soon as you need it. However, the process may take longer if you choose to work through a live agent.

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