State Farm renters insurance comes with excellent financial strength ratings with AM Best and top marks for overall customer satisfaction from J.D. Power.
By
Colin LalleyColin LalleyContent Director, Home & Auto InsuranceColin Lalley is the content director for home and auto insurance at Policygenius, where he's been writing about insurance since 2015. His insights have been featured in Inc. Magazine, Betterment, Chime, Credit Seasame, Zola, and the Council for Disability Awareness.
Our proprietary ratings methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the “Ratings methodology” section for more details.
4.8
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
NA
The bottom line
State Farm renters insurance received 4 out of 5 stars for overall customer satisfaction from J.D. Power and 3 out of 5 stars for its claims process satisfaction. But where it really stands out is its high personal liability coverage limits — up to $1 million, increased coverage limits available for computers and jewelry, and discounts for bundling your renters and auto insurance or installing home safety devices.
Pros
High-deductible option available
Up to 24 months of loss-of-use coverage
Multi-policy and home safety discounts available
Cons
Need a separate policy to schedule high-value items for additional coverage
State Farm is one of the largest providers of renters insurance in America, offering coverage to millions of people across the country.
Basics
Renters Insurance Provider
State Farm
Founded
1922
A.M. Best
A++
S&P
AA
Ratings
Consumer Affairs
N/A
J.D. Power Overall Customer Satisfaction
4/5
J.D. Power Claims Process Satisfaction
3/5
Base policy features
Replacement Value Available
Yes
Deductible Options
$500, $1,000, $2,000
Personal Property Coverage
Purchase online: up to $110,000 Purchase via agent: $110,000 and up
Personal Liability
$100,000, $300,000, $500,000, $1,000,000
Medical Payments to Others
$1,000, $2,000, $3,000, $5,000, $10,000
Loss of Use Coverage
No maximum; covers up to 24 months
Off-Premise Coverage
Yes
Peril Type Coverage
Named
Purchase Online
Yes, up to $110,000 personal property coverage
Collapse table
*Based on New York availability
Optional add-on features
Schedule High-Value Items Online
No; requires a separate policy and for the customer to speak with an agent
Colin Lalley is the content director for home and auto insurance at Policygenius, where he's been writing about insurance since 2015. His insights have been featured in Inc. Magazine, Betterment, Chime, Credit Seasame, Zola, and the Council for Disability Awareness.
