Advertiser Disclosure

Assurant Renters Insurance Review 2020

Aug. 24, 2020
Insurance, Renters Insurance
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Assurant might not be the best-known name in the insurance world, but its renters policies are worth considering. Assurant renters insurance includes coverage that most other insurance companies charge extra for (or don’t include at all), offering more value for your premium.

If you need less coverage, Assurant sells a bare-bones “Liability Only” policy to renters living in its partner properties.

Assurant renters insurance pros and cons

ProsCons
Standard renters policies cover the full replacement cost of your belongings.Few discounts are offered.
Bedbug damage, food spoilage and additional living expenses for flood evacuation are covered in some states.Receives far more than the expected number of consumer complaints for a company of its size.

Assurant renters insurance rating

4.0 NerdWallet rating

Assurant renters insurance earned 4 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account coverage and discounts, ease of filing a claim, website transparency, financial strength, complaint data from the National Association of Insurance Commissioners and more.

Based on these ratings, Assurant is among NerdWallet’s Best Renters Insurance Companies.

Assurant renters insurance coverage

The standard Assurant renters insurance policy covers not only the things you’d expect — like your personal belongings and liability for injuries on your property — but also a few items most insurers don’t include.

For example, the policy offers replacement cost coverage for your personal belongings rather than actual cash value. That means if you have to file a claim, you’ll get enough money to buy brand-new items rather than a lower amount reflecting their depreciated value. Many insurance companies charge extra for replacement cost coverage.

Although most renters insurance doesn’t cover bedbugs, in some states Assurant’s policies will pay for extermination and other bedbug-related costs. Depending on where you live, you may also be covered for spoiled food if your power goes out or for additional living expenses if you have to relocate due to a flood. (Note that the policy doesn’t include coverage for flood damage — you’ll need to purchase separate flood insurance for that.)

You can add optional coverage to your policy to pay out for the following scenarios:

  • Damage caused by pets.
  • Identity theft expenses.
  • Rent payment if you lose your job.
  • Earthquake damage.
  • Damage from a backed-up drain or sewer.

Looking for a cheaper renters insurance policy? If you live in one of Assurant’s partner properties located across the U.S., you can elect the company’s Liability Only policy. This no-frills option covers only damage that you cause by accident, to either your own property or a neighbor’s (such as leaving the bathtub running or starting a kitchen fire). It also covers some personal liability expenses if your dog bites a guest.

» MORE: What is renters insurance, and what does it cover?

Assurant renters insurance discounts

Depending on where you live, you may be able to get a discount for having safety and security devices such as fire alarms or sprinkler systems. Assurant also offers a credit for those whose leases require them to buy renters insurance.

Assurant complaints and customer satisfaction

Assurant had far more than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (The NAIC’s home insurance complaints cover a range of policy types, including renters and condo insurance.)

» MORE: Renters insurance quotes: What you need to know

More about Assurant

Website: You can get a quick and easy Assurant renters insurance quote on the company’s website and read useful information about what’s covered by your policy. Once you’re insured with Assurant, you can log in to the online portal to file a claim, update your address, track a claim’s progress and see your policy documents.

State availability: Assurant sells renters insurance in all 50 states.

Other insurance: In addition to renters insurance, Assurant also offers the following types of policies (mostly through partners or agents):

Condo insuranceManufactured housing insurance
Pet insuranceFlood insurance
Antique car insurance

Renters Insurance Ratings Methodology

NerdWallet’s renters insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverage options, discounts, online experience and more. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Methodology: Insurer complaints

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

About the author