Morgan, who needs Colorado renters insurance, writes in with today’s question. She asks,
How can I choose a renters insurance company? There are so many out there and I’m not sure what the criteria should be to pick one. I don’t want to be “That Girl” who chooses renters insurance based on price and nothing else, and then ends up in a bad position because of it.
Great question Morgan, and one we hear quite often. There are a few things to be aware of.
How Can I Choose A Renters Insurance Company?
There are more choices and advertising than ever before to encourage you to choose a given company for renters insurance. But how can you make the right choice?
How Can I Choose A Renters Insurance Company? Financial Stability
The best place to start when you’re wondering how to choose a renters insurance company is with the financial stability of the company, or the companies they write with. A.M. Best rates the financial strength of insurance companies, and those ratings are available online. You want to be sure that the insurance company will be around to pay a claim, should it be necessary. There are certainly horror stories out there of people who ended up having to go to the state guaranty fund to get their claims paid after an insurance company was declared insolvent. As a matter of fact, that happened to two small auto insurance companies in Texas not long ago! So that’s the first place you want to look.
How Can I Choose A Renters Insurance Company? Availability
The next thing to consider when choosing where to buy your renters insurance is the availability of the company. Local agents are great, but if the company prefers not to work directly with the consumer and you need help at 3 AM, what are you going to do? We know one person whose agent gives out their personal cell phone number for middle of the night emergencies, but that’s rare and dependent on the size of the agency. By working with a company like Effective Coverage, you get broad customer service hours as well as 24 hour claims service. You don’t need to pay a bill at 3 AM. You may need to file a claim at that hour though, so you had better be sure that your renters insurance company is able to accommodate things like that. Claims can include loss of use coverage, which is something you generally need immediately in order to find a place to go after a major loss, and start putting your life back together.
How Can I Choose A Renters Insurance Company? Service
Service doesn’t just mean they answer the phone and take a payment for you. Service means being certain that you’ll be talking to an expert in the field, someone who understands exactly what you need and can help you meet those needs. Effective Coverage was built around serving the needs of renters, and you’ll get a renters insurance expert every time you call or chat with us. Getting an expert every time means fewer “Let me find out” answers and more in depth, detailed answers to your questions. Choosing a renters insurance company based on service is crucial, so that you know you’re getting the right coverage at the right price.
Contact Effective Coverage today at (800)892-4308 to see what service, stability, and availability look like in the context of your own insurance needs.