Companies that Offer Affordable Renter's Insurance

As the cost of commodities continues to rise, so does your rent. Your rent may take a big chunk of your paycheck; however, it does not cover loss and damage to your personal property. In addition, your landlord's insurance often only covers damage to the building, but not your personal belongings. Insuring your belongings will give you peace of mind in case the inevitable happens such as fire, theft, flood and other disasters.

United Services Automobile Association

In 1922, 25 U.S. Army officers met to insure each other's vehicles, forming a small organization known as the United Services Automobile Association (USAA), which provides financial services to its members. As of 2010, USAA serves 7.7 million members that include military personnel in active duty, military veterans (retired or honorably discharged), spouses of USAA members, widows/widowers of USAA members, former spouses of USAA members, children of current or former USAA members, former USAA members and other individuals referred to by USAA members.

USAA provides renters insurance, which, as of 2010, costs as little as $10 a month for personal property valued up to $2,500. This affordable rate offers coverage for property losses and damages caused by theft, flood and fire. In addition, USAA renters insurance covers items lost in transit (inside your car or moving truck) or while in storage. It offers 100 percent replacement value of your belongings, subject to certain terms, limits and conditions of the policy.

United Services Automobile Association
9800 Fredericksburg Road
San Antonio, TX 78288
800-531-8722
usaa.com

Liberty Mutual

Established in 1912, Liberty Mutual provides competitively-priced insurance products and services to its customers. Liberty Mutual is the 5th largest property and casualty insurance company in the United States. It received an "A" rating from A.M. Best (Alfred M. Best) Company, a full-service credit rating organization, for its dependability.

As of 2010, you can get as little as $15 a month of renters insurance coverage for your property, with coverage depending on the policy, which varies from State to State offered by Liberty Mutual. Coverage includes theft, damage to personal property while in the rental property or while in transit.

Liberty Mutual Group, Inc.
175 Berkeley Street
Boston, Massachusetts 02116
800-295-3753
libertymutual.com

American Association of Retired Persons

The AARP (American Association of Retired Persons), founded in 1958, provides services to its members who are 50 and over. A social welfare, non-profit and non-partisan membership organization, AARP aims to assist its members and improve their quality of life. AARP offers affordable renter's insurance that protects personal belongings such as furniture, appliances, clothing and jewelry in the event of a loss or damage.

AARP renter's insurance covers loss of use, when you cannot live in your rental unit due to a covered loss such as fire or other disasters. This coverage pays living expenses depending on the policy limit. Other coverage includes legal defense against liability claims (lawsuit), payment for any court judgments for covered losses against you and medical coverage for injuries caused by a family member or pet whether in your rental unit or not, or whether you are at fault or not.

AARP offers discounts and credits such as bundling renter's insurance with car insurance, which can provide a discount of up to 15 percent. AARP may provide discount if your apartment unit has 24-hour security service, if you or your spouse are either retirees or work less than 24 hours a week or if you renew your renter's insurance policy with AARP.

AARP Insurance Program
The Hartford
P.O. Box 14216
Lexington, KY 40512-9979
877-422-2345
aarp.org