In this Geico renters insurance review, the This Old House Reviews Team compared the caller ’ s coverage and pricing to early top-rated renters indemnity companies. Keep read to learn if Geico is the best renters policy choice for you and your home .
Pros & Cons of Geico Renters Insurance
| Pros | Cons |
|---|---|
| Pros | Cons |
| ✔ Lower than the average deductible option of $100 | ✘ Doesn’t offer many discounts |
| ✔ Offers a calculator to help you determine how much personal property coverage to get | ✘ Policies are through Assurant, not Geico |
| ✔ Available in all 50 states | – |
Geico Renters Insurance Coverage
Geico offers named-peril coverage for renters across the country. A named-peril policy means that you ’ re merely protected from events specifically listed in the contract. These events include :
- Fire or lightning
- Windstorm
- Smoke
- Vandalism or malicious mischief
- Theft
- Accidental discharge of water
- Other common loss types
With a named-peril policy, you’ll also receive coverage for the following areas:
- Personal Property Coverage: This covers the cost of your personal belongings. Through Geico, you get an actual cash value policy, which means they’ll pay for replacements taking into account their depreciated value. You can use Geico’s personal property calculator to determine how much of this coverage to purchase.
- Loss of Use Coverage: If an event causes you to be temporarily displaced from your home, your policy will cover living expenses, including the cost of a hotel room or temporary rental.
- Liability Coverage: This covers bodily injury to someone else or damage to their property. For example, if your dog were to bite a neighbor, it would cover their medical bills or the legal fees if that neighbor sues you.
- Coverage for Medical Payments to Others: If someone is injured in your home, your policy will cover their medical costs up to a certain amount.
here ’ s how much coverage you can purchase for each protection category based on North Carolina information :
Geico Renters Insurance Range of Coverage
| Area of Coverage | Amount Range |
|---|---|
| Area of Coverage | Amount Range |
| Personal property | $10,000–$95,000 |
| Loss of use | 20% of personal property |
| Liability | $50,000, $100,000, or $300,000 |
| Medical payments to others | $1,000 |
| Deductible | $100, $250, or $500 |
Additional Geico Coverage for Renters
For an extra monthly sum, you can add coverage for :
- Replacement cash value
- Identity theft services
- Water sewer backups
- Scheduled personal property
- Business merchandise
- Incidental business liability
- Natural disasters
Geico besides has a distinguish jewelry indemnity policy for a higher level of protection .
How Much Does Geico Renters Insurance Cost?
Geico advertises that its renters indemnity costs deoxyadenosine monophosphate little as $ 12 per month, but this price is reserved for people who have a senior high school credit rating score and live in a newly build that ’ s less prone to repairs .
To give you an idea of what the average person would pay, we went through the on-line quote process. hera ’ s a quote for a single woman be in a one-bedroom apartment in Raleigh, North Carolina :
Geico Renters Insurance Cost Breakdown
| Area of Coverage | Coverage Amount |
|---|---|
| Area of Coverage | Coverage Amount |
| Personal property | $25,000 |
| Loss of use | $5,000 |
| Personal liability coverage | $100,000 |
| Medical payments to others | $1,000 per person |
| Deductible | $100 |
| Monthly cost | $16.92 ($27.84 down payment for month 1) |
To get your own individualized quote from Geico, have the follow information on hand for a quick quote process :
- Address
- Gender
- Number of people in rental
- Type of rental
- Number of units in building
- Number of pets
- Date of birth
Customer Service and Claims Support
Geico provides customer serve 24 hours a day, seven days a week. You can call Geico for policy questions or file a claim at 800-241-8098. Geico besides has a fluid app and an on-line portal vein that allow you to access your policy, view the terms of your indemnity contract and file a claim if you would prefer not to talk to a customer overhaul agent.
Read more: The Best Car Insurance Companies for 2022
Our Conclusion
Geico renters policy is standard for the diligence, covering personal property, indebtedness, loss of use, and aesculapian payment coverage for around $ 15 per calendar month. While Geico offers few extra coverage options and discounts, you will get low-cost deductibles and 24/7 customer overhaul through three avenues—a web site, a mobile app, and a telephone numeral .
Before buying a renters insurance policy through Geico, we recommend getting quotes from at least three companies to make sure you ’ re getting the best indemnity coverage for you and your home .
If you ’ ra not certain whether Geico is right for you, compare it to early top-rated renters policy companies below .
Compare Renters Insurance Companies
| Company | Geico | Nationwide | Allstate |
|---|---|---|---|
| Company | Geico | Nationwide | Allstate |
| Known for | Low deductibles | Credit card coverage in the basic policy | Multiple discounts |
| Monthly price | As low as $12 | About $20 | About $15 |
| Customer service | 24/7 | 24/7 for claims; limited for sales and service | 24/7 |
| BBB rating | A+ | A+ | A+ |
Company Overview
- CEO: Todd Combs
- Years in business: 81
- State availability: 50
- Address: 5260 Western Avenue
- City/State: Chevy Chase, MD
- Zipcode: 20815
- A.M. Best financial strength rating: A++
Frequently Asked Questions About Geico
Why should I buy Geico renters insurance?
Most renters don ’ t have thousands of dollars in the bank to cover damages from unexpected events. With a renters insurance policy, you can save money and have peace of beware that you won ’ t have to break the depository financial institution when one of these events occurs .
Does Geico offer renters insurance discounts?
Yes. Geico offers up to a 25 % dismiss when you bundle your renters policy with other indemnity products like car insurance or life indemnity. You can besides get a deduction for having sealed guard features already in your home, like a security system system or roll of tobacco detector.
Read more: Best car insurance companies for 2022
How do I get a free quote for Geico renters insurance?
You can get a free renters insurance quote from Geico by using their on-line quotation mark tool. This cock allows you to answer questions about you and your property and get a quote in under 10 minutes. You can besides call Geico ’ s customer service occupation to have a representative walk you through the work and provide price and information regarding your coverage .
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