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Best Insurance Companies For Rental Properties In 2022

Last Updated: 8 Feb, 2022

If you want to choose the best insurance companies for rental properties, you have to look at the pricings and ratings. Overall, in 2021, State Farm was voted the best insurance companies for rental properties. Similarly, GEICO scored best value.

Renters’ Insurance is an insurance coverage policy that shields the tenants from financial burdens in case of an unfortunate event like theft, damage, or other perils to their rented property. Due to the unpredictable and uncertain nature of the world we live in, it is paramount that every tenant purchases renters’ insurance to safeguard themselves in case something goes wrong. Hence, if you live in New Jersey, finding the right renters’ insurance in New Jersey is significant. 

renters' insurance

What Are Best Insurance Companies For Rental Properties? 

Life is unpredictable, and nobody knows what will happen at any given moment in time. Life can be particularly more challenging for people who live in rented properties and apartments. Landowners will not cover your damages in case of theft or any other mishappening in your rented property. So, having renters’ insurance will cover you and reimburse your loss if any damage or unfortunate event occurs. Renters’ insurance will cover a diverse range of expenses and losses like medical or repair, which will reduce the burden on your pockets significantly.

Average Renters’ Insurance Pricing In 2022

According to Valuepenguin, the average renters’ insurance cost in New Jersey ranges from $11 to $24. This depends on the company providing the coverage. Many companies are offering amazing deals on renters’ insurance in New Jersey, so finding a great deal is not difficult, but you will have to do some research and comparison work.

best insurance companies for rental properties

What Does Renters’ Insurance Cover?

Renters’ insurance is designed to help the tenants who might be facing different kinds of problems or losses, so; it covers a diverse range of losses and damages. Some of the major coverages included in the renters’ insurance are:

1. Coverage for physical damages

Renters’ insurance helps cover the physical damages to the rented property resulting from robbery, fire, riot, or any unwanted event. Certain natural disasters like earthquakes and floods are not covered but still getting this policy protects you from losses occurring from unfortunate events.

Not only that, but this policy also covers your personal losses like theft of a laptop, for instance. Basically, this policy is like a shield against the losses resulting from the mishappening. Contact an independent agent or an insurance agent brokerage firm for more details.

2. Medical Expenses Coverage

Renters’ insurance policy helps to cover your expenses resulting from a physical injury or any health concerns due to your rented property. If someone is injured or hurt on your property and the reason is associated with you, then you might be held liable. In such cases, this policy will come to your rescue.

3. Coverage for additional living expenses

In case your rented property becomes inhabitable or temporarily unavailable for living, renters’ insurance also covers the expenses incurred while living in a hotel or guest house. This scheme covers your meals and temporary rentals.

Key Takeaways

Renters’ insurance protects you from expenses or losses incurred due to some unwanted event or a disastrous situation. Times have been challenging, and the global pandemic has only made it worse. Hence, during such times an extra financial burden can really be damaging your pockets. Therefore, getting the right renters’ insurance in New Jersey is extremely important. However, make sure that you conduct proper market research before choosing coverage. Contact us to get the best rental coverage from a trustworthy insurance carrier who has a lot of experience in selling insurance. You can also reach out to us if you are in the process of getting renters insurance in West Virginia. We also provide other coverages like cybersecurity insurance. We have a strong network of independent insurance brokerage companies ready to offer you amazing coverages. If you are thinking of splitting renters insurance for two roommates then you might end up disappointed more than ever. A renters insurance for two roommates cannot be shared. 


Is condo insurance more expensive?

Condo insurance costs on average $429 per year, however this varies greatly by state. California, for example, has a $535 annual average condo insurance rate, which is 25% higher than the national average.

Is it difficult to obtain homeowner's insurance once you've been dropped?

It’s likely that your search will be challenging for the same reasons you were dropped. Going without coverage, on the other hand, is not recommended for a variety of reasons, not least because gaps in your coverage will affect your rates and ability to locate cheap coverage.

renters' insurance arizona
renters' insurance arizona

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Renter's Insurance Agency Lafayette 

(470) 280-6551 

Lafayette GA 30728 

Business Hours:

Monday 8 AM - 8PM

Tuesday 8 AM - 8 PM

Wednesday 8 AM - 8 PM

Thursday 8 AM - 8 PM

Friday 8 AM - 8 PM