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The Cheapest South Dakota Renters Insurance Companies 2020

With home prices on the rise, many people are renting homes and apartments instead of buying. At just $722 per month, rent is much cheaper in the Mount Rushmore State than the rest of the U.S., which averages $1,012.

Find the Best Renter Insurance

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The Insurance Information Institute (III) shows that South Dakota had the lowest average renters insurance cost in the country as of 2017 at $123 a year compared to the national average at $180. Because renters insurance is so relatively affordable for the coverage it provides, it is a worthwhile investment.

Best rental insurance companies in South Dakota

Most people have a lot of expenses, so most people want to find the most affordable renters insurance for the best coverage. To determine which companies are the best South Dakota renters insurance options, we analyzed companies based on their ratings from services like AM Best, which ranks providers based on how financially secure they are, and J.D. Power & Associates, which collects customer satisfaction data.

These are the four best rental insurance companies in South Dakota:

  • Allstate: Allstate offers great accessibility with its mobile apps for bills, property documentation and claims processing. Allstate is also an excellent option for people who would like to bundle their renters insurance with other policies.
  • American Family Insurance: AmFam provides replacement cost coverage, which will replace your lost or broken items with brand new items of a like kind. This can be excellent for people who are worried about their belongings depreciating in value and not having the money to replace items as they were.
  • Safeco: Safeco has some of the most affordable rates and offers quality customer service. If you want to pair your renters insurance with auto insurance and you drive for a rideshare, Safeco might be a good option. Safeco has made a name for itself within the ridesharing space with special coverage for drivers of ridesharing companies like Lyft and Uber.
  • State Farm: State Farm is top-ranked for the best customer service by J.D. Power, and its customers agree on sites like Consumer Reports and the Better Business Bureau that it is reliable for customer support.
  • AM Best J.D. Power Better Business Bureau (BBB)
    Allstate A+ (Superior) 2 out of 5 A+
    American Family Insurance A (Excellent) 5 out of 5 A
    Safeco A (Excellent) 5 out of 5 A
    State Farm A++ (Superior) 5 out of 5 A+

    Cheapest South Dakota renters insurance insurance: Safeco

    Out of the quotes we got, Safeco had the lowest rates. Customers can also lower their rates even more with Safeco’s discount options. You can get discounts for bundling insurance types, being a safe driver, taking an accident prevention course, driving less, having more than one car, having anti-theft devices on your car and owning your own home.

    Best South Dakota renters insurance for customer service: State Farm

    With State Farm, you can enjoy reliable coverage with great national availability. It comes paired with great affordability and high customer service ratings. State Farm also offers highly customizable coverage and has a user-friendly mobile app.

    Best South Dakota renters insurance for mobile accessibility: Allstate

    Allstate offers the best tools for online account management with two valuable mobile apps. Allstate Mobile is dedicated to account management, allowing you to access your policy information, pay your bill and file a claim.

    Best replacement coverage for South Dakota renters insurance: American Family Insurance

    American Family Insurance remains a top choice for renters insurance because it automatically includes replacement coverage for your lost or damaged items. This means that you will receive a replacement item of the same value and kind as the one you lost.

    These are the average annual rates for South Dakota renters insurance based on a sample policy of a $30,000 personal property coverage, a $500 deductible, $100,000 in personal liability and $100,000 in medical payments to others.

    • Safeco: $77
    • State Farm: $85
    • Allstate: $91
    • American Family Insurance: $108.31

    Frequently asked questions

    How much renters insurance do I need in South Dakota?

    How much renters insurance you need depends on how much your belongings cost and how much your landlord requires. Landlords have the right to require renters insurance.

    What is the cheapest renters insurance company in South Dakota?

    While Safeco had the lowest rates based on our profile, your rate will depend on things like your location, car and driving history. Shop around to ensure that you have the best coverage at the cheapest price.

    Is my roommate covered under my policy?

    No, your roommate is not covered under your policy unless you purchase additional coverage.

    What are the minimum insurance requirements in South Dakota?

    South Dakota has strict requirements regarding rent in the state, but there are no minimum insurance requirements. Still, purchasing a comprehensive policy is always a good idea to protect your belongings.

    The post The Cheapest South Dakota Renters Insurance Companies 2020 appeared first on The Simple Dollar.

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The Cheapest Connecticut Renters Insurance Companies 2020

The cost of living in Connecticut is much higher than the rest of the United States, and the property values are no different. That contributes to many people renting their living space instead of buying homes. The average cost of renters insurance in Connecticut is $15 to $30 per month, which is surprisingly lower than the rest of the United States.

Without things like homeowners insurance to protect you, it makes it even more important to protect your things with renters insurance. Renters insurance cover your damaged or destroyed items and liability for the property and any guests you may have. That’s why it is so important to find the best cheap renters insurance for 2020.

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Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

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Best rental insurance companies in Connecticut

As rent increases, your budget gets smaller, and every penny counts that much more. However, you do not want to sacrifice quality and purchase subpar coverage, because you could be left without protection if tragedy strikes.

These are our picks for the best cheap renters insurance companies in Connecticut:

  • Allstate: Allstate is perhaps most popular for its auto insurance coverage, which provides an excellent opportunity for renters to combine car and renters insurance for a discount.
  • Amica: Amica often gets outstanding scores for customer service from organizations like J.D. Power & Associates.
  • State Farm: State Farm is also a great company for those looking to bundle their auto and renters insurance policies. This provider has great savings programs and lets you tailor your policy to your needs.
  • USAA: USAA gets top scores for customer service and for its numerous financial services. However, USAA is limited to members of the military and their families, so not everyone can qualify.

    AM Best rating J.D. Power rating Better Business Bureau (BBB) rating
    Allstate A+ (Superior) 2 out of 5 A+
    USAA A++ (Superior) 5 out of 5 Not rated
    Amica A+ (Superior) Not rated A+
    State Farm A++ (Superior) 5 out of 5 A+

    Cheapest Connecticut renters insurance company for military: USAA

    USAA consistently ranks at the top for all kinds of insurance, including renters insurance. Superior customer service and affordability are top perks you’ll receive as a member, but you must be a member of a military household to be eligible for USAA coverage.

    Cheapest Connecticut renters insurance for multiple policies: State Farm

    State Farm is an excellent choice if you are looking to have multiple insurance policies with one company. In addition to renters insurance, State Farm offers auto insurance,homeowners insurance and life insurance.

    Best Connecticut renters insurance for customer service: Amica

    Amica is widely known for its customer service, earning top marks from agencies like J.D. Power and Consumer Reports. While Amica wasn’t specifically rated for renters insurance, its home insurance received the highest score among all providers rated by J.D. Power., indicating that its service for renters insurance should also be among the best. You can also earn credits for each year of coverage that will go toward a future home insurance policy.

    Cheapest Connecticut renters insurance for custom coverage: Allstate

    Allstate is well-versed in all things insurance-related, so it is a top pick if you are looking for customizable coverage for your needs. You can choose from several add-ons to create your plan.

    To determine Connecticut’s cheapest renters insurance at an average annual rate of $164 per year, we used a sample policy that included the following:

    • $30,000 personal property coverage
    • $500 deductible
    • $1,000 personal liability coverage
    • $1,000 medical payment coverage

    Frequently asked questions

    How much renters insurance do I need in Connecticut?

    Renters insurance is not legally required in Connecticut, but it is highly recommended even if your landlord doesn’t require it as part of the rental agreement. Crime happens everywhere, and natural disasters like wind, fire and ice can strike at any time, wreaking havoc upon your home.

    What is the cheapest renters insurance company in Connecticut?

    The cheapest Connecticut renters insurance for you will depend on your needs and circumstances. Each renters insurance policy is customized to you using details like your zip code, what kind of home you rent and what belongings you want to insure.

    Can my landlord require renters insurance?

    The state of Connecticut allows landlords to require renters insurance. Carefully review your lease to see what requirements are included. Regardless of whether your landlord requires it, it’s always a good idea to protect yourself and your home with renters insurance.

    Should I bundle my insurance policies?

    Many companies, like Allstate and USAA, allow you to purchase multiple forms of coverage. If you bundle your renters insurance with other things like your auto or life insurance policy, you could be rewarded with extra savings.

    The post The Cheapest Connecticut Renters Insurance Companies 2020 appeared first on The Simple Dollar.

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