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Big name companies a good bet for renters insurance

Surveys show that most renters don't bother with insurance coverage. You may regret that in the event of a fire, flood or other event that destroys your personal property. Experts say renters insurance is highly affordable and should be considered a necessity. Unlike homeowners insurance, bigger companies may make more sense for renters.

People who want to get a quick, comprehensive quote for their renters insurance should take a look at State Farm. Praised for an extensive website with a host of resources, State Farm also offers renters a convenient mobile app and the option of working with agents or directly with the company, no matter where they live. The company scores highly among big-name insurers for its customer service, and policyholders say it offers flexible billing and payment options.

Customer service and claims are available 24 hours a day, 7 days a week, and coverage is available nationwide via an extensive network of agents, or by phone or online. Though some homeowners grouse about premiums, expert reviewers say renters shouldn't worry -- State Farm's insurance rates are competitive.

Liberty Mutual, another large insurer with nationwide reach, also offers conveniences that renters will appreciate, like a 24-hour repair service that offers an expedited process for emergency fixes no matter how or when the disaster occurs. Like State Farm, coverage is nationwide via phone, computer or a network of local agents, and customer service and claims are accessible 24/7, including a convenient online chat.

Experts say its online coverage calculator and quote tools can help renters get a firm grasp on the coverage they need and what they'll have to pay. A mobile app also earns praise. Liberty Mutual offers some renter-specific discounts, and experts say rates are competitive. However, homeowners give the company mixed reviews for customer service, and its financial ratings aren't as solid as those of some of its competitors.

Finally, experts say Farmers Insurance is another standout for renters. Though the company's online tools aren't as sophisticated as some of those offered by competitors, its rates are competitive, reviewers say. The company also earns praise for its online quotes, but availability is limited to certain states. However, homeowners with policies through Farmers offer mixed or poor reviews of customer service, and a lower than average number of policyholders would recommend the company to a friend.

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