State Farm vs Progressive | Tenant insurance 2021

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Founded in 1922, State Farm insures more cars and homes than any other insurance company in the United States. State Farm offers approximately 100 services and products and processes nearly 36,000 complaints per day. To date, there are over 19,000 independent agents in the country.

Progressive was founded in 1937. The company says there are currently 20.4 million policies in force.

Among the insurance companies we reviewed that offered renter insurance, State Farm scored 3.9 out of five. Progressive is not in our ranking of the best insurance companies for renters for 2021.

State Farm and Progressive both offer standard tenant insurance that covers personal property, liability, and additional living expenses in the event of loss of use. If your property is damaged or destroyed in a disaster or due to a covered risk such as theft, vandalism, fire smoke, wind, or water, personal property may pay to have it replaced or repaired.

Personal liability can cover medical or legal costs if someone is injured in your home. If there is any damage to your property, this could cover the cost of repairing the damage. Finally, if a disaster strikes and you cannot live in your accommodation, additional living expenses (ALE) may cover the cost of meals and accommodation. State Farm offers up to 24 months of ALE coverage, while Progressive coverage may vary.

Although both insurance companies have been around for decades, a major difference between State Farm and Progressive is that Progressive offers renters insurance policies through its Progressive Advantage agency or an unaffiliated insurance company. In turn, the coverage limits, premium costs, and available discounts can cover the gamut. You will also need to file a claim directly with the insurer, instead of working with Progressive.

Do State Farm and Progressive Cover ?

State Farm and Progressive do not cover bed bug damage or infestations in their tenants’ standard insurance policies. This is because insurance companies view protection against pest infestations as part of regular maintenance, rather than as a consequence of an unforeseen disaster.

Do State Farm and Progressive Cover ?

Typically, tenant insurance companies include coverage for accidental water damage from indoor sources, such as broken or frozen plumbing, broken fixtures, and water from other units in the building; State Farm and Progressive are no exception. However, State Farm excludes damage from flooding from outside sources, and Progressive excludes damage from back-up sewers and sump pumps.

Do State Farm and Progressive Cover ?

As is generally the case with tenant insurance, State Farm and Progressive do not cover damage caused by flooding, which is generally defined as water from outside or underground sources. Tenants concerned about flooding can purchase additional insurance specifically designed to cover this risk.

Do State Farm and Progressive Cover ?

Most tenant insurance policies do not cover damage or mold removal. Progressive covers mold in certain circumstances if it is not due to lack of maintenance or neglect.

Do State Farm and Progressive Cover ?

State Farm and Progressive tenant insurance policies cover personal property damage up to the limits of the policy for a covered event. They also offer liability coverage resulting from accidental damage to someone else’s property.

Do State Farm and Progressive Cover ?

State Farm and Progressive both list fire damage as a covered event. Fire damage coverage includes damage or loss of personal property caused by fire or smoke, as well as additional living expenses for a temporary move due to fire.

Do State Farm and Progressive Cover ?

Like most typical insurance companies, State Farm and Progressive do not cover auto theft as part of their tenant insurance policies. However, they do cover reimbursement for personal items stolen from your car, whether the theft occurs on or off the rental property.

Do State Farm and Progressive Cover ?

Generally, a renters insurance policy does not cover regular moving expenses.

Do State Farm and Progressive Cover ?

Your State Farm or Progressive tenant insurance policies will compensate you if you are forced to temporarily move out of your rental unit due to a loss. You will be covered for temporary accommodation, meals away from home and related expenses.

Do State Farm and progressive offer g?

Insurers like State Farm and Progressive both offer tenant insurance bundles, so policyholders can save money by pairing their tenant insurance with auto insurance, for example. Bundling insurance, also known as multi-policy discount, is a common way to save money on insurance by purchasing multiple policies from the same company.

State farm

State farm “

AM best grade
A ++
Online tools
Online estimate / Online request
Multi-policy discount available

All prices shown are indicative only. You must contact the insurance company or insurance agent directly to obtain the applicable quotes.

Advantages:

  • One of the most affordable companies in our ranking

  • Agents can help you customize your policy

The inconvenients:

State Farm Renters’ Insurance Premium is one of the most affordable companies in our research and is # 3 in our ranking of the most affordable renters insurance companies of 2021. It offers a handful of add-ons. , such as additional business property, earthquake damage, additional liability coverage, and accidental professional liability. State Farm has an extensive network of over 19,000 independent agents across the country, and by working with a local agent, you can craft a policy that suits your needs.

Progressive

Fast facts:

  • Wide range of pricing options

  • You can view a variety of maps in one place

  • The discounts vary depending on the insurer

  • The supplements depend on the insurance company

Progressive offers insurance to tenants through third party insurers and through its Progressive Advantage agency. Since Progressive offers policies from a handful of different insurance companies, the cost of the premium and additional insurance options may vary depending on location and insurer. This means that you will have access to a wide range of plans and pricing options all in one place.

Since the current policy is from a third party, if you need to file a home insurance claim, the third party will process the claim, not Progressive.

Progressive tenant insurance policies are offered by unaffiliated third parties, prices, amounts of coverage, top-ups and discounts vary. Progressive is not on our side.

Renters insurance companies

US News Renters Insurance Guides

Further ratings on 360 reviews

For more information on other forms of insurance, see our other guides.

Why You Can Trust Us: 15 Tenant Insurance Companies Wanted

At US News & World Report, we rank the Best Hospitals, Best Colleges, and Best Cars to guide readers through some of life’s most complicated decisions. Our 360 Reviews team uses that same unbiased approach to review the products you use every day. To build our reviews, we researched over 15 renters insurance companies and analyzed 12 reviews. Our 360 Reviews team does not take samples, gifts, or loans of any products or services that we review. All product samples provided for review are given after review. In addition, we maintain a separate sales team that has no influence on our methodology or recommendations.

US News 360 Reviews takes an unbiased approach to our recommendations. When you use our links to purchase products, we may earn a commission, but this does not affect our editorial independence.


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