connected with insurers in the past week
Our product scores consist of a combination of the following 3 components:
Trustpilot is a trusted third-party consumer review website open to anyone looking to share a business review. The BestMoney Total Score will consist of the brand’s score on TrustPilot. If a brand does not have a TrustPilot score, the BestMoney Total Score will be based solely on the Click Trend Score and Products & Services Score (read below).
BestMoney measures user engagement based on the number of clicks each listed brand received in the past 7 days. The number of clicks to each brand will be measured against other brands listed in the same query. Therefore, the higher the share of clicks a brand receives in any specific query, the higher the Click Trend Score. BestMoney accepts advertising compensation from companies, which impacts their (and/or their products’) position, and in some cases, may also affect their Click Trend Score.
Products & Features
BestMoney’s editorial team researches and reviews financial products based on factors such as: range of products and services offered, ease-of-use, online accessibility, customer service, special awards, and more. Each brand is then given a score based on the offerings in each parameter. The specific parameters which we use to evaluate the score of each product can be found on its review page, which is updated every 3 months. If the editorial team cannot locate information relevant to a brand's Products & Services Score, it will not be included in its calculation.
If you're one of the vastly growing number of people who are renting property, you would be wise to consider getting renters insurance. Many renters think that their landlord's home insurance covers their possessions, and only find out the truth when it's too late. Some landlords also require you to get renters insurance as part of your contract.
If your home is burgled, or there’s a fire or natural disaster that destroys or damages your things, you want to know that the best and most reliable renters insurance has got your back.
Here are a few points to look for when choosing the best home insurance company for renters:
There are almost as many different kinds of renters insurance policies in the US as there are for homeowners insurance. The most common type of renters insurance policy is called HO-4. It's designed to cover damage caused by something known in the insurance industry as the "16 perils." Each "peril" is an incident that can cause damage to your possessions and is covered by your policy. They include:
A basic renters insurance plan covers 3 different types of risk, which are likely to occur during your regular life. The three basic renters insurance plans cover:
Insurance plans don't usually include events that are extremely unlikely, like damage from a tsunami if you live in Idaho. They only cover common perils. If you live in a place that is at risk from uncommon threats, it's wise to buy an add-on policy to cover those situations. Here are some common add-ons for renters insurance:
Everyone wants to find ways to pay less for their renters insurance. One of the best options is to bundle together more than one insurance plan at the same time. Often, insurance companies will give a discount if you buy both your renters insurance and your car insurance from them, for example.
Another approach is to find ways to make your home more secure. Insurance companies may give you a discount on your premiums if you have a working security system, smoke detectors, burglar alarms, and other measures to minimize the risk of damage to your possessions. If your home doesn’t have any of these security features, it’s worth talking to your landlord to see if they’d agree to install them.
Renters insurance is like homeowners insurance and other types of insurance, so it’s regulated by state law, not federal law. As a result, each state can have different regulations for renters insurance, so make sure that you know what the requirements are in your state.
Usually, underwriting for renters insurance is broadly similar to that for other types of insurance. The underwriter might consider issues like where your home is located and what natural disasters are likely in your region. They will also look at your history of previous insurance claims, any claims by previous tenants in your home, and sometimes also consider any hazards in your home or building, like the pet you own, a nearby swimming pool, or a trampoline in the garden.