Selecting the Right Insurer

Here are the steps you should take in deciding on the right insurer for you.

1. Ask family, friends, & colleagues for their recommendations. If you know anyone else who rents or has applied for renters insurance rates lately, ask what companies they recommend. You might also talk to your landlord about what companies he/she prefers. Remember that the company that offers the lowest renters insurance rates isn't always the best.
2. Make sure the company is licensed in your state. When you get renters insniceurance rates from a company, make sure that company is licensed to operate in your state.
3. Assess the company's financial stability. If you ever have to make a claim, you want to make sure the company will actually be able to pay it. Consult an index like Standard & Poor's to get ratings on the company's financial health.
4. Research the company's customer service history. You should always look into the customer service records of the companies from whom you get renters insurance rates. This information can be found on the website of your state's Department of Insurance.
5. Assess your comfort level with the company. At the end of the day, low renters insurance rates don't mean much if you don't feel comfortable dealing with an insurance company. Talk to an agent or representative from the company to get a feel for how they treat customers.
6. Evaluate the competitiveness of the company's prices. Compare the renters insurance rates from one company with those you receive from another. Are they comparable or is one of the policies overpriced?