State Farm Renters Insurance Review [2024]: Does It Pay to Bundle?

Our State Farm renters insurance review finds that it is worth it to bundle auto and renters insurance. Affordable State Farm renters insurance rates start as low as $4 monthly with the bundling discount.

Before you buy, read our expert guide to understand what renters insurance covers and compare State Farm renters insurance bundles to other local companies with our free comparison tool below.

How to Save Money With State Farm Renters Insurance Bundles

Although State Farm is one of the best renters insurance companies in the country, if your auto policy through State Farm is way more expensive than alternative coverage through someone else, you may not want to purchase it just to get your hands on cheap renters insurance, because at that point the bundle discount won’t make sense.

In other words, if you’re overpaying for auto insurance simply to get a State Farm renters insurance bundle discount, you may want to go back to the drawing board to find premiums that aren’t so pricey.

You should compare renters insurance quotes from the top car insurance companies that bundle renters and auto to see which gives you the best price.

We should point out that you might also qualify for multi-policy discounts if you bundle other types of insurance with State Farm, such as life insurance or a business policy, so compare a different pair of policies to find out which makes more sense financially.

Read more: State Farm Steer Clear Review

Compare Quotes From Top Companies and Save

Auto Home Health Life Business Motorcycle Pet Medicare Rental

 Secured with SHA-256 Encryption

What You Need to Know About State Farm Renters Insurance

Your personal financial strength is taken into consideration when you apply for various types of coverage. The more you own, the more you have to protect. State Farm says the typical renters insurance policy offers $100,000 in liability coverage but points out that you should consider more coverage if your assets exceed that amount.

• Typical renters policy comes with $100k in liability coverage
• Deductibles are generally offered at $500 and $1,000
• Discounts offered for things like smoke detectors and/or fire extinguishers
• Cost can vary greatly based on location, deductible, and any add-on coverage you choose

When it comes to deductibles, State Farm tends to offer a choice of either $500 or $1,000, meaning your losses need to exceed those amounts before they cover your claim.

Learn More: Is renters insurance required?

How Much State Farm Renters Insurance Costs

Your renters insurance rates with State Farm will vary based on your wide range of needs, the coverage you select, the deductible you choose, and whether you tack on optional coverage like earthquake or business liability.

Pro Tip: Depending on who you rent from, renters insurance may be required as part of your lease agreement. If that’s the case, you may not need all the extra coverage, and a bare-bones policy might make sense just to meet their demands.

You might also be able to qualify for discounts if you have smoke detectors and/or fire extinguishers in the unit, which could significantly reduce your costs. So be sure to mention those when obtaining any sort of in-person or online insurance quote.

Learn More: State Farm Discount Double Check Review

Navigating State Farm Renters Insurance Claims Process

Ease of Filing a Claim

State Farm offers a convenient and user-friendly claims process for its renters insurance. Policyholders have multiple options to file a claim, including online, over the phone, and through mobile apps. This flexibility ensures that you can report a claim in a way that suits your preferences and circumstances.

Average Claim Processing Time

When it comes to claim processing, State Farm is known for its efficiency. While specific processing times may vary depending on the nature and complexity of the claim, State Farm strives to handle claims promptly. This commitment to swift processing can provide peace of mind to policyholders during stressful situations.

Customer Feedback on Claim Resolutions and Payouts

State Farm’s reputation extends to its claims resolution process. Many policyholders have reported positive experiences with State Farm’s claim resolution, citing fair and satisfactory outcomes. Customer feedback often highlights the company’s commitment to addressing claims promptly and fairly, resulting in a high level of satisfaction.

Compare Quotes From Top Companies and Save

Auto Home Health Life Business Motorcycle Pet Medicare Rental

 Secured with SHA-256 Encryption

State Farm Renters Insurance Digital Features

Mobile App Features and Functionality

State Farm offers a robust mobile app that provides policyholders with a range of features and functionalities. The app allows you to manage your renters insurance policy, file claims, and access important documents right from your smartphone. Its user-friendly interface and intuitive design make it a valuable tool for policyholders on the go.

Online Account Management Capabilities

State Farm’s online account management system empowers policyholders to have full control over their insurance policies. You can log in to your account on the company’s website to view policy details, make payments, update personal information, and more. The online platform streamlines the management of your renters insurance, making it convenient and accessible.

Digital Tools and Resources

State Farm goes beyond traditional insurance by providing policyholders with an array of digital tools and resources. These resources can include educational materials, calculators, and guides to help you better understand your renters insurance policy.

State Farm’s commitment to digital innovation ensures that you have the information and tools you need to make informed decisions about your coverage.

The Bottom Line on State Farm Renters Insurance Bundles

When insurers advertise a low rate flat for something, you have to dig down into the details to see exactly what is being offered. While $4/mo sounds really cheap for State Farm renters insurance, it’s not all that surprising because renters coverage tends to be low cost.

Read More: Shopping for Renters Insurance: How to Find the Right Coverage

However, it’s more important to ensure the coverage is adequate, otherwise, what’s the point? Not only do you need enough coverage to replace or repair your personal property, but you also need to be covered against the right perils.

Be sure to verify with your State Farm insurance agent exactly what is and isn’t covered by renters insurance with regard to your property.  For example, if it’s a named perils insurance policy rather than an all-perils policy, you should probably move on.

There are plenty of renters insurance companies out there, and you may be the sort of person who wants all their bases covered. You can always request a renters insurance quote at any time, so start here with our free comparison tool above to get renters insurance quotes from local companies.

Compare Quotes From Top Companies and Save

Auto Home Health Life Business Motorcycle Pet Medicare Rental

 Secured with SHA-256 Encryption