State Farm Renters Insurance

We recommend State Farm® for all your Renters Insurance needs. Learn more and get a quote

At Rentalutions, our top priority is providing landlords and tenants the tools, processes and resources they need to make renting easy and transparent. We’ve spent considerable time thinking about what tools renters need, like online rental applications, sharing profiles with landlords, easy ways to pay rent online, etc. But that also includes getting access to renters insurance and clearing obstacles for you as a renter, so that you can easily purchase a policy with minimal frustration. That’s why we’ve gone the distance to evaluate several renters insurance carriers and have come up with what we believe to be an option we can get behind and recommend. We recommend State Farm for your renters insurance needs, and here’s why…

EMPHASIS ON COMMUNITY

State Farm was founded in 1922. But before that, the founder of State Farm, George J. Mecherle, worked at another insurance carrier. One day he approached his boss and told him that he didn’t think their existing insurance rates were fair for farmers. He cited that farmers aren’t driving as frequently and their properties are less at risk for certain events. His boss laughed and said, “If you think you’ve got such a good idea, why don’t you start your own company.” He did. And that philosophy of coverage at a fair price with fair claim settlement remains.

FOCUS ON DOING THE RIGHT THING

The #1 focus of State Farm is the customer. The State Farm business model is centered on their agents who are about understanding their customers’ needs and creating meaningful relationships. They don’t start with “what products can I sell you”, but rather with “what’s going on in your life so that I can help you determine the coverage to satisfy your insurance needs.” This is important in making sure that you ultimately get the right mix of products and services to suit you as an individual.

DIRECT WRITERS

When you’re talking with an agent that represents State Farm, you’re talking directly with State Farm. It’s not an independent broker, but rather someone who is completely in-tune with the products and services of State Farm. And because you’re dealing directly with the expert, you’re able to remove an independent broker as a middleman, helping save some money and possibly even reducing a bit of red tape.

A MUTUAL COMPANY

State Farm is a mutual company, which means its policyholders are also owners. Your State Farm renters policy will be issued by one of the State Farm family of companies headed by State Farm Mutual. This aligns interests and keeps policyholders at the center of the business. In fact, State Farm is the only private company in the Fortune 50, and one of just 5 private companies in the Fortune 100.

POSITIVE HISTORY SETTLING CLAIMS

J.D. Power and Associates gave State Farm 4 out of 5 stars for “overall consumer satisfaction”, with the official meaning being they are “better than most”. Some regions, like the Southwest and New York were rated even higher receiving 5 out of 5 stars and rated “Amongst the Best”.

Their claims process was ranked in the top 3 by J.D. Power, citing: 1) effective communication to clearly explain the process,  2) quick navigation through the claims process, and 3) fair treatment towards the claimant in regards to settlement.

STATE FARM UNDERSTANDS RENTERS

After underwriting nearly 27 million home and renters policies and handling over 35,000 claims a day, State Farm has gotten to really know a lot about renters, the problems they face and what’s important when a crisis occurs. One of their 18,000 agents will be your friend and good neighbor, helping you figure out the right property and liability limits to set on your policy. State Farm can help you insure the full replacement value of your property and protect you in the case of a liability lawsuit.

FULL DISCLOSURE

In full disclosure, we do have a relationship with State Farm to do some sponsored marketing for their insurance services. However, before we entered into that relationship we had many choices amongst the different insurance carriers. We didn’t have to go with State Farm here. But we chose who we felt, according to our own diligence and research, was the single best match for our renters, given our philosophy of transparency and fairness. This blog is the shortened version of our research to highlight how we came to this conclusion.

ABOUT RENTALUTIONS

Our online rental software helps do-it-yourself landlords be more effective, fair and honest with online tenant screening, digital leasing, and online rent payments. Tenants find the software user-friendly, intuitive and enjoy the transparency that Rentalutions brings to the rental process.

 

State Farm and the State Farm logo are registered trademarks of State Farm Mutual Automobile Insurance Company.

Rentalutions has received compensation for the State Farm product placement in this blog.

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