The Hartford Renters Insurance Review

Standard coverage offerings that are particularly attractive for retirees ​
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Ethan Jacobs

By Ethan Jacobs Contributing Writer

The Hartford Renters Insurance Review

The Hartford’s renters insurance offers customers all of the standard coverage they would expect from an established provider. The insurer provides liability, medical, and relocation coverage, while also sprinkling in enticing add-ons, such as dwelling upgrade and “new for old” coverage that allows renters to live comfortably without having to worry about the depreciation of their valuables.

The Hartford isn’t without its detractors, chief among which are AARP non-members and customers who report dissatisfaction with The Hartford’s handling of their claims. If you can look past this, though, The Hartford’s redeeming qualities, such as its strong financial ratings and 24/7 coverage, give users a lot to be excited about.

Pros
Cons
Strong financial ratings
24/7 coverage with expert service providers
Below-average overall satisfaction rating
Geared toward seniors/AARP members

The Renters Insurance Factors We Analyzed

Customer experience

In J.D. Power’s property claims satisfaction study, The Hartford came in third place out of 22 ranked providers. Interestingly, though, when J.D. Power dug a bit deeper and rated The Hartford specifically for renters insurance, the carrier finished dead last in a field of 13 providers. What does this mean for you? Ultimately, it means that The Hartford may not be consistently reliable when it comes to its renters insurance; it will likely pay out on claims in a timely manner, but customers are less happy with price, policy offerings, and customer service interactions.

Financial strength

The Hartford received an A1 rating on the basis of its financial strength from Moody’s, a major credit-rating company. This means that in the long term, The Hartford’s financial strength is “upper-medium grade and low credit risk” and that in the short term, it presents a high ability to repay debt.

AM Best, a credit-rating agency that assesses a firm’s ability to pay out claims, gave The Hartford’s financial portfolio an A+ rating. Per AM Best, this means that The Hartford is suited to meet any ongoing insurance or claims obligations on behalf of its clients.

Finally, S&P Global gave The Hartford an A+ rating, which indicates low credit risk in the long term and the best ability to repay debt in the short term. All of this indicates The Hartford’s dependability in financial terms and reliability as an entity that can repay its clients when claims are filed.

Coverage information

The Hartford provides much of the standard renters insurance coverage. If you’re temporarily forced to move due to damage to your building, the additional living expenses that you incur, such as motel or hotel charges, as well as the cost of dining out, are covered for up to an additional 30% of your personal property coverage.

Additionally, if you, your family, or even your pets are found liable for accidental injuries or death that occur at your residence, The Hartford often covers liability claims. Even if you aren’t found responsible, The Hartford will still cover the cost of your legal defense fees.

Other standard coverage offerings include damage that you or a family member cause to someone else’s property up to $1,000, as well as medical care payments for individuals injured on your property, as long as those costs don’t exceed your policy limits.

A unique coverage offering from The Hartford is the insurance of any upgrades that you make to your space. The insurer offers protection for up to 10% of your policy amount, meaning that if you have a policy worth $25,000, any improvements that you make to your dwelling will be covered up to $2,500.

Deals, discounts, and add-ons

Renters that may be at risk of flooding will want to purchase extra flood coverage, as that feature isn’t included in The Hartford’s standard coverage package. Bundling vehicle and renters insurance can help provide savings to compensate for the cost of additional coverages.

The Hartford’s “new for old” protection option replaces lost or damaged items that are covered at a “like-new” price point. Put another way, if you bought a TV worth $1,000 that gets irreparably damaged three years later, depreciation isn’t taken into account. The Hartford will cover the cost of the TV at its like-new $1,000 price point.

Other discounts include a security discount for users living in buildings with 24-hour surveillance and renewal discounts for loyal renters insurance customers at The Hartford. Along with this, policyholders can opt for The Hartford’s ProtectorPlus zero deductible benefit, which waives up to $5,000 from your deductible when you suffer covered losses exceeding $27,500.

The Hartford Renters Insurance Overview: Financial Strength, Availability, and History

If its financial ratings are anything to go on, The Hartford is held in pretty high esteem. It’s received ratings of A+, A1, and A+ from S&P Global, Moody’s, and AM Best, respectively, all of which connote a strong degree of trustworthiness with respect to its ability to pay off debts and claims.

Additionally, it received an A+ rating from the Better Business Bureau, indicating its reliability in responding to customer complaints, though users rated The Hartford’s services just one star out of five.

  • In business since: 1810
  • S&P Global financial strength rating: A+
  • Moody’s financial strength rating: A1
  • AM Best financial strength rating: A+
  • States served: 50 plus Washington, D.C.

The Competition

AM Best Financial Strength Rating
J.D. Power 2019 U.S. Renters Insurance Study Score
NAIC Customer Complaint
The Hartford
A+
2/5
More complaints than average
USAA
A++
5/5
Fewer complaints than average
State Farm
A++
5/5
Fewer complaints than average
American Family
A
5/5
Fewer complaints than average

All information accurate as of January 27, 2020.

The Bottom Line

The Hartford’s renters insurance ultimately gives users plenty to get excited about. All of the standard coverage offerings one might expect from a major insurance provider are included in The Hartford’s renters insurance package. This includes liability, medical costs, displacement costs, and property and valuables damage.

Although coverage is strongly geared towards retirees (AARP members) and customer service is less than stellar, The Hartford’s strong financial ratings are proof positive of its trustworthiness and ability to pay out claims. As you begin pulling quotes, The Hartford is worth consideration.

The Hartford Renters Insurance FAQ