State Farm Renters Insurance Review

State Farm’s renters insurance is among the best you’ll find, especially if you’re looking for customizable coverage. However, the discounts fall short compared to some other companies.

J.D. Power Rating
5/5
AM Best Rating
A++
Standard & Poor’s
AA
SimpleScore
4.2 / 5.0
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SimpleScore State Farm 4.2
Discounts 3
Coverage Options 5
Customer Satisfaction 5
Support 4
Accessibility 4
  • Online policy management
  • Financial strength
  • Add-on coverages
  • Few discounts

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    America’s top-rated renters insurance

    • Policies starting at just $5/month
    • Sign up in seconds, claims paid in minutes
    • Zero hassle, zero paperwork
    In this article

      State Farm renters insurance at a glance

      In business1922
      States served50
      Best forPeople who want to customize their policy
      Not forPeople who want multiple discounts
      Standout featuresOnline quotesMobile claimsBusiness coverage
      Available bundlesRenters and auto

      What we like about State Farm renters insurance 

      Customizable coverage  

      State Farm’s renters insurance policies are customizable, so you don’t have to settle for cookie-cutter coverage. Every policy includes basic coverage for personal property, liability and loss of use, but renters can also choose to add coverage for identity theft protection, earthquake damage, business property coverage and more.

      [ Read: How Much Renters Insurance Do I Need? ]

      Online policy management  

      If you’d rather manage your policy from home than work with an agent, State Farm is a good option for you. The company has a robust online portal where you can file a claim, make a payment and make changes to your policy. You can also use the highly-rated mobile app to file a claim on-the-go or access your policy information from anywhere.

      Things to consider 

      Few discounts 

      The one downside to State Farm renters insurance is that there aren’t many discounts offered. You can only save money by bundling a renters and auto insurance policy, or by having certain safety features installed in your home. Of course, there’s always the option to raise your deductible, but that doesn’t significantly lower your monthly premium.

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      State Farm renters insurance vs. the competition

      Geico and State Farm, on the surface, are very similar but their differences could sway your decision.

      J.D. Power Rating
      N/A
      AM Best Rating
      A++
      Standard & Poor’s
      AA+
      SimpleScore
      3.3 / 5.0
      close
      SimpleScore Geico 3.3
      Discounts 3
      Coverage Options 2
      Customer Satisfaction N/A
      Support 4
      Accessibility 4

      Geico and State Farm are similar in many ways. They both offer renters insurance in all 50 states, they are known for affordable coverage, and you can manage your policy almost entirely online. But the one area where Geico beats State Farm is coverage for valuables. Geico offers two add-on coverages that State Farm doesn’t—replacement cost coverage and scheduled personal property coverage. If you’re someone who keeps expensive items in your home, like electronics, jewelry, art, or money, it’s worth purchasing extra coverage from Geico to protect them.

      Read our full Geico review.

      Allstate stands out with more discount options but maintaining similar coverage options to State Farm.

      J.D. Power Rating
      2/5
      AM Best Rating
      A+
      Standard & Poor’s
      AA-
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore Allstate 4.2
      Discounts 5
      Coverage Options 5
      Customer Satisfaction 2
      Support 4
      Customer Satisfaction 5

      Like State Farm, Allstate’s renters insurance policies are pretty basic, and each company has its pros and cons. While State Farm offers more endorsements, Allstate offers more discounts. If you’re looking to save as much money as possible on your renters insurance, consider Allstate. You can save money by bundling your policies, having an anti-theft or fire alarm system, enrolling in autopay, and being claims-free. There’s even a discount for renters who are 55 or older, and are retired.

      Read our full Allstate review.

      State Farm renters insurance rates

      State Farm doesn’t disclose its prices for renters insurance, but you can get a quote instantly online. Keep in mind that every individual will pay a different price for their renters insurance. The state you live in, your age, your claims history, your credit score and the amount of coverage you get will all impact your rate. If you add endorsements to your policy, you’ll pay a higher premium. You can also save money if you qualify for discounts.

      [ Read: How Much Is Renters Insurance? ]

      State Farm renters insurance’s coverage 

      State Farm offers the following coverages for renters:

      • Basic coverage: All State Farm renters insurance policies include personal property coverage, liability coverage and loss of use coverage.
      • Additional liability coverage: For added protection, you can purchase additional liability coverage to increase your coverage limit.
      • Identity restoration: State Farm offers identity restoration coverage to help cover the cost of identity theft-related services, like credit monitoring.
      • Pet coverage: If you have pets, you can add coverage for your dog or cat.
      • Earthquake damage: Renters who live in states that are prone to earthquakes can purchase earthquake coverage.
      • Additional business property: If you operate a business from your home, you can get a higher amount of business property coverage for things like equipment or computers.
      • Incidental business liability: For the home business owner, incidental business liability coverage is important if you have customers or clients visit your home.

      State Farm renters insurance discounts 

      • Bundle renters and auto insurance policy
      • Home alert protection devices
      • Saving money with higher deductibles

      How to submit a claim with State Farm renters insurance

      Filing a renters insurance claim with State Farm is very simple. Here’s a look at the process:

      1. Start the claim process online, through the mobile app or by calling a State Farm agent. If you file a claim online, you’ll be prompted to upload photos and videos of the damage, along with a written description of the event.

      2. Once your claim has been filed, a claims representative will reach out to review your claim and ask any follow up questions. During the review process, you’ll be able to track the status of your claim online or through the app.

      3. After you claim has been approved, you’ll receive your estimated payout and learn your repair options. State Farm works with a network of contractors that you can hire, or you can choose a contractor of your own.

      State Farm renters insurance online and mobile app

      State Farm has great online tools. Not only can you file a claim, make payments, and manage your policy through the online customer portal, but you’ll also find lots of helpful information and FAQs about renters insurance. There’s even a step-by-step guide for how to create a home inventory of your personal belongings. State Farm also has a highly-rated mobile app.

      Find the Best Renters Insurance

      Save money on renters insurance with our simple comparison tool.

      Matching you with providers.
      We found results in
      Click at least 2-3 companies to find the very best rate.

        America’s top-rated renters insurance

        • Policies starting at just $5/month
        • Sign up in seconds, claims paid in minutes
        • Zero hassle, zero paperwork

        [ Read: How to Buy Cheap Renters Insurance Online ]

        State Farm renters, auto and life

        State Farm customers can save money on their insurance by bundling their renters and auto insurance policies. The company also offers a number of other property insurance policies, including homeowners, rental property, farm and ranch and manufactured home insurance. You can also purchase life insurance, health insurance, disability insurance, small business insurance, pet medical insurance and standalone liability insurance from State Farm.

        State Farm in the news 

        • In September 2020, State Farm reported that it had received more than 25,000 homeowners insurance claims following Hurricane Laura. According to the article, “State Farm revealed that it had received another 3,180 auto insurance claims from Louisiana as of September 01, 2020.”
        • Collision Week reported that State Farm and Ford had teamed up to offer a usage-based car insurance program. State Farm customers with an eligible connected Ford vehicle will soon have the option to opt-in to State Farm’s Drive Safe & Save program, which records driving behavior and rewards safe drivers with a lower rate.
        • Due to the COVID-19 pandemic, State Farm announced that it would give auto insurance customers a 25% refund on their premium, according to Fast Company. The article states, “The credit is part of State Farm’s Good Neighbor Relief Program, which aims to support its customers during the pandemic.”

        We welcome your feedback on this article and would love to hear about your experience with the renters insurance providers we recommend. Contact us at inquiries@thesimpledollar.com with comments or questions.

        Methodology

        SimpleScore

        The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
        For every review, our editorial team:

        • Identifies five measurable aspects to compare across each brand
        • Determines the rating criteria for each aspect score
        • Averages the five aspect scores to produce a single SimpleScore™

        Here’s a breakdown of the five aspect scores and their rating criteria for our renters insurance reviews.

        Why do some brands have different SimpleScores on different pages?

        To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

        However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.

        Discounts

        We awarded higher scores to insurance providers with more discounts available on their website.

        Coverage Options

        We gave providers with more renter insurance coverage options a higher score because they’re more likely to have a policy that best meets your needs.

        Support

        We awarded higher scores to renters insurance providers with the most channels for customer support.

        Customer Satisfaction

        We leveraged the J.D. Power Home Insurance Satisfaction Study℠ to see how customers rated their experience with each insurance provider. (If a provider wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

        Accessibility

        We awarded higher scores to insurance providers that have more online and mobile features to easily manage your policy and claims.

        Elizabeth Rivelli

        Contributing Writer

        Elizabeth is a contributor to The Simple Dollar, where she reviews insurance providers and policies. She has more than three years of experience writing for top online insurance and finance publications, including Bankrate, Coverage.com and Reviews.com.

        Reviewed by

        • Nashalie Addarich
          Nashalie Addarich
          Editor

          Nashalie Addarich is an editor for The Simple Dollar. She recently made a career switch from the legal field, where she was an attorney in Washington, DC. In her free time, she enjoys learning new languages. You can also find her editorial work on Reviews.com.