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Geico Renters Insurance Review 2020

Aug. 14, 2020
Insurance, Renters Insurance
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Geico is best known for auto insurance, covering more than 28 million vehicles, but it also offers other types of insurance through its partners. Geico renters insurance is provided by third-party companies — not Geico itself — and you won’t learn which insurer you’ve been paired with until you’ve gotten most of the way through the quote process.

You may want to explore Geico’s renters insurance options if you already have car insurance with Geico: You’ll qualify for a discount by purchasing both auto and renters policies through the company.

Geico renters insurance pros and cons

ProCons
Offers customers with current Geico car insurance a discount on their auto policyFunctions as an agency and doesn't underwrite its own renters policies
No choice of which company you’ll be matched with

About Geico renters insurance

Unlike its car insurance policies, Geico renters insurance is serviced and underwritten by other companies.

The Geico Insurance Agency serves as a broker that matches you with one of its 20+ renters insurance partners, including well-known companies like Liberty Mutual and Travelers. (Note that you don’t get to choose which company you’re matched with.)

While you can log in to your Geico account to see information about your renters policy, you’ll have to file any claims directly with the third-party insurer.

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

Geico renters insurance coverage

The exact types of coverage available to you will depend on which third-party insurer Geico assigns to you, but most standard renters policies include:

  • Coverage of your personal belongings if they’re stolen or damaged in a disaster.
  • Liability coverage for lawsuit damages, medical payments and legal fees if someone is injured on your property or you cause damage to someone else’s home.
  • Coverage of expenses above your normal living costs if you need to move out of your home while it’s being repaired after a disaster.

Beyond these basic levels of coverage, many insurers offer optional types of coverage you can add to your policy:

  • Replacement cost coverage for your belongings, so you’ll be paid the amount it would cost to purchase new items (rather than the depreciated value of your 3-year-old phone, for instance).
  • Additional coverage for jewelry and other valuables beyond the limits listed in your renters policy.
  • Flood, earthquake or other coverage for disasters that are excluded by most renters policies.
  • Business liability or merchandise coverage for those who carry out certain types of work from home.

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

Geico renters insurance discounts

If your car is insured with Geico, you’ll get a discount on your auto policy when you buy renters insurance through Geico’s agency. Other discounts available to you will depend on the third-party insurer that provides your renters policy.

Most insurers offer discounts if your home has smoke alarms, fire extinguishers, sprinkler systems, burglar alarms or other safety features.

» MORE: Geico homeowners insurance review

More about Geico

Website: On Geico’s site you can get a renters insurance quote, estimate the value of your personal belongings and read basic information about coverage and discount options. You can also find a list of contact numbers for Geico’s renters insurance partners.

Other insurance: Geico sells numerous other types of insurance, most of which are underwritten by third-party companies:

Auto insuranceHomeowners insurance
Life insuranceCondo/co-op insurance
Umbrella insuranceCollector auto insurance
Rideshare insuranceMotorcycle insurance
ATV insuranceRecreational vehicle insurance
Flood insuranceTravel insurance
Boat insuranceBusiness insurance

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