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State Farm Renters Insurance

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State Farm Renters Insurance

Updated: Aug. 14, 2018

Ranked 2nd of 9 renters insurance with a Quid Score of 85.

Buy Now Leave a Review

State Farm Renters Insurance

Ranked 2nd of 9 renters insurance with a Quid Score of 85.

Product Details

Product Details

Ranks 2nd overall.

Other Information
  • Online Quote: Yes
  • Available Discounts: Multi-Policy Discount, Home Alert Protection Discount
  • Additional Information: N/A
  • Other Products Offered: Auto, Motorcycle, Sport & Leisure Vehicles, Home & Property, Identity Restoration, Life, Health, Long-Term Care, Disability, Liability, Small Business Insurance
  • Customer Service System: Agent
  • Property Catalog System: No
  • Online Portal / Smartphone App: Yes
Policy Information
  • Loss of Use: Up to 2 Years, No Max
  • Additional Coverage: Mold, Rot, and Fungi Coverage up to $20,000
  • Off-Premise Coverage: Yes - 100%
  • Add On Availability (Floater): Yes
  • Actual Cash Value or Replacement Value: Both Available
Key Product Information
  • Type: Renters Insurance
  • Jewelry Cap: $1,000
  • Annual Premium: $125
  • Deductible As Low As: $500
  • Liability Protection: $100,000
  • Minimum Coverage Amount: $15,000-$40,000

Expert Rating: 78%

Ranks 6th among competitors.

Expert Rating: 78%

Ranks 6th among competitors.

Watch: A Photographer’s Quest for Renters Insurance

Low premiums, geographical availability, and high coverage limits make State Farm a premium choice among experts. State Farm also stands out for its generous 24-month Loss of Use policy. Experts note that sewer and water damage coverage costs extra.

Full Expert Breakdown
  • Premium Rates - Average
  • Jewelry Cap - Average
  • Electronics Cap - Above Average
  • Agent Knowledge - Above Average
  • Agent Responsiveness - Above Average
  • Loss of Use - Above Average
  • 24/7 Support - Yes
  • Number of Customer Complaints - Below Average
  • Financial Strength - High
Notable Positives
  • Lower than average premium
  • Comprehensive geographical coverage
  • Better coverage for high value items
  • Generous loss of use policy
Notable Negatives
  • Additional costs for sewer and water damage coverage
Full Expert Breakdown
  • Premium Rates - Average
  • Jewelry Cap - Average
  • Electronics Cap - Above Average
  • Agent Knowledge - Above Average
  • Agent Responsiveness - Above Average
  • Loss of Use - Above Average
  • 24/7 Support - Yes
  • Number of Customer Complaints - Below Average
  • Financial Strength - High

Customer Rating: 83%

Ranks 3rd among competitors.

Customer Rating: 83%

Ranks 3rd among competitors.

Watch: My Take on State Farm Insurance by Katherine B

Overall, customers are pleased with their State Farm experience. Agents are knowledgeable, responsive, and nice. Claims are processed fast and efficiently. Some customers were disappointed to find that not all damage is covered, so read the fine print.

Ideal for people:

First timers or established renters seeking a reputable company with strong customer satisfaction and high loss of use coverage.

Not ideal for people:

Those wanting an "online-only" experience.

Notable Pros:
  • Reasonable premiums
  • Efficient claims process
  • Great customer service
Notable Cons:
  • Policy may not cover more expensive items

Brand Score: 88%

Ranks 2nd among competitors.

Brand Score: 88%

Ranks 2nd among competitors.

At its inception, State Farm provided only auto insurance. Today the company has more than 100 products in 5 lines of service, which include renters insurance, mutual funds, and and the State Farm Bank. The company website hosts instant quote estimate calculators. State Farm serves more than 84 million policies and accounts, and employs more than 65,000 people in the U.S.

Heritage - 5/5

State Farm was founded in 1922.

Innovation - 3/5

The State Farm mobile app is designed to help customers manage their insurance, get roadside assistance, file and track their claim status, and more.

Reliability - 5/5

State Farm representatives are available through a mobile app, email, or phone. Based on a customer’s location, there may also be agents available nearby. Simple Insights is an additional knowledge database on the company’s website that provides information on safety, maintenance, investments, and more.

Social Good - 5/5

The State Farm Companies Foundation supports auto and home safety programs, disaster recovery services, and education empowerment projects.

Relevance - 5/5

State Farm’s #HereToHelp social campaign provides safety and lifestyle tips that help in everyday situations. On its YouTube channel, customers can get to know the agents of State Farm and listen to exclusive “Neighborhood Sessions” that feature well-known musicians.

Retail: Best Price $125.00

Ranks 5th in value among competitors.

Retail: Best Price $125.00

Ranks 5th in value among competitors.

State Farm has a standard process for acquiring an online quote. Once a customer has filled out their personal information and apartment details, a quote is presented. A local agent will follow up to go over coverage options specific to location and situation.

Best Purchase Options
State Farm - $125.00
Best Purchase Option
State Farm - $125.00

Ranked by Quiddity

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