ResidentShield Renters Insurance Review 2024: Pros and Cons

ResidentShield isn’t an insurance coverage firm. It’s an company that works with third-party insurers to seek out you a renters coverage, with availability in most U.S. states.

ResidentShield companions with sure residence communities throughout the nation. In the event you dwell in a type of communities, the corporate will make your life just a little simpler by prefilling sure elements of your software. However you don’t must dwell in a companion advanced to get ResidentShield renters insurance coverage.

Insurance policies from ResidentShield stand out in a few methods. First, the appliance course of doesn’t contain a credit score verify. That’s helpful for renters with poor credit score, who typically pay increased renters insurance coverage charges in most states.

Second, ResidentShield guarantees that your premium received’t go up when you file a declare. That’s a uncommon perk within the renters insurance coverage trade.

However pet house owners will wish to take a detailed have a look at ResidentShield’s animal legal responsibility protection, which can fall in need of what you’d discover elsewhere.

ResidentShield sells renters insurance coverage in Washington, D.C., and each state apart from Alaska and Hawaii.

One good function of a ResidentShield coverage is that it covers your private belongings on a substitute value foundation. With one of these protection, the corporate pays you sufficient after a declare to purchase new replacements for broken or stolen gadgets.

Some renters insurance policies pay solely the precise money worth of misplaced gadgets, which displays depreciation. As a result of issues like furnishings and electronics are inclined to lose worth over time, having precise money worth protection means your declare payout might come up properly in need of what it’s worthwhile to purchase new gadgets.

Relying on the place you reside, you could possibly add some or the entire following to your coverage:

• Water and sewer protection, which pays for harm to your belongings if a water line or sump pump backs up into your own home.

• Pet harm protection, which pays to restore issues like carpet stains or scratch marks out of your furry buddy.

• Further animal legal responsibility protection for medical and/or authorized bills in case your pet injures somebody or damages their property. (The private legal responsibility protection included along with your coverage could also be restricted for situations involving animals.) Be taught extra about canine legal responsibility insurance coverage.

• Gear safety protection, which pays for bodily harm to laptops, telephones and different digital devices. 

• Tenant harm protection, which pays for property harm you trigger to your rented home or unit.

• Earthquake protection to restore or exchange your belongings after an earthquake (obtainable in California solely).

ResidentShield affords a reduction of as much as 20% for renters in a senior dwelling group. You may additionally have the ability to get monetary savings by paying your renters insurance coverage premium in full, moderately than in installments.

Web site: You need to use the ResidentShield web site to get a renters insurance coverage quote, file a declare or see primary details about the corporate’s insurance policies.

Claims: You possibly can file a declare on-line or name 800-822-2997. In keeping with the corporate, your premium received’t go up after you file a declare, which is uncommon within the insurance coverage trade. Charges sometimes go up almost 19% on common after a renters insurance coverage declare, in line with FinanceGrabber’s charge evaluation.

Customer support: For help, e mail [email protected], name 800-566-1186 or use the corporate’s chat function, which affords each automated and dwell help. Customer support is on the market on weekdays from 7:30 a.m. to 7 p.m. CT.

Alternative value protection for private belongings. Many insurance coverage insurance policies cost further for one of these protection, whereas ResidentShield consists of it.

No penalties for poor credit score or prior claims. Renters with a patchy credit score historical past or a previous insurance coverage declare usually pay extra for his or her coverage. That’s not the case with ResidentShield.

Animal legal responsibility protection. Most renters insurance coverage covers canine bites and different animal legal responsibility claims as much as your full private legal responsibility restrict (usually $100,000). However lots of the quotes we bought from ResidentShield had decrease ranges of animal legal responsibility protection, resembling $10,000, except we have been prepared to pay further. The typical value of a canine chunk declare was greater than $64,000 in 2022, the latest knowledge obtainable, in line with State Farm and the Insurance coverage Info Institute.

Availability in Alaska and Hawaii. Renters in these states might want to look elsewhere for protection.

Not able to decide? Chances are you’ll be keen on these different renters insurance coverage corporations: