I'm planning to move to a new apartment soon and was considering getting the renter's insurance from Progressive since I have my auto insurance with them. Is it worth buddling or should I just use the regular insurance they bundle with rent.
Posted by DataBooking
3 Comments
99% chance it’s cheaper to get your own insurance. Forced insurance from the property will likely be very expensive. Run the quote and compare, only way to know.
The insurance with rent will probably use progressive too and charge more. Never get insurance from the property manager. But progressive excludes water damage liability. Don’t go cheap on renters insurance. Use a better company if you can. Difference between $150 year and $200 year can be a much different policy
Up to you. Just quote it and compare.
Some companies offer a “comprehensive” policy or endorsement that covers your belongings the same way a “high quality homeowners policy” would. Some only offer a “named peril” policy, which only covers 15-16 common occurrences.
Progressive usually only uses the latter (may be state dependent).
If you are worried about the main things (fire, theft, tornado/storm, liability) then Progressive will be fine. If you are worried also about weird things, like deer/animal running through, paint splatter, dog getting cut and bleeding on everything, etc, then use a different company.
Note: Flood and major land movements will generally always be excluded. If you rent a basement or ground floor that could flood during heavy local rain or snow-melt, consider flood insurance.