As a renter, you have the right to safeguard your belongings. Purchasing a renters insurance policy is an important part of securing this protection. The right policy from the right provider will give you the protections and benefits you need – without breaking the bank. Muller Insurance, an independent agency that represents 20+ insurance companies, has served clients in multiple states for over 118 years. Here, we discuss three of our top providers – Lemonade, Franklin Mutual, and Safeco – to see how they stack up for New York and New Jersey renters insurance.
Lemonade Insurance Has Your Back
When you invest in renters insurance, you want to be sure your provider has your back. Too many providers promise attractive benefits that they will never deliver, as they routinely turn down claims to protect their own bottom line.
Lemonade is set apart by its innovative, customer-first business model. The company takes a fixed 25% fee from premiums to fund business operations. The remaining 75% is set aside to cover claims. Because this money doesn’t factor into company profits, Lemonade has nothing to lose by denying your claim. If you need protection, you will receive it. Any remaining money after payouts is donated to charities selected by their policyholders.
This focus on the customer is also evident in the other advantages Lemonade offers, including effortless setup, fast approval and payouts, and a user-friendly mobile app. All of this is available at affordable rates that start at only five dollars a month. In combination, it’s no wonder that Lemonade is among the best-rated renters insurance providers in the nation.
Customize Your Coverage With Franklin Mutual Insurance
Your rental home is more than just a place to live—it’s the center of your lifestyle. Each renter has a unique set of needs to be met on an individualized budget. To make sure everyone is covered, insurance needs to be just as diverse as its customers.
Franklin Mutual Insurance, sometimes called FMI, understands this. To meet a wide variety of needs, FMI makes its renters insurance policies fully customizable. Policyholders can pick and choose the coverage enhancements that are most important to them, with a list of options that includes:
- Valuable possessions
- Personal excess liability
- Identity theft protection
- Home business
- Resident companion
- Equipment breakdown
- Water backup
Not only does this flexibility allow you to select the protection you want, but it also lets you eliminate the ones you don’t. This makes it easy to save. Instead of paying extra for coverages you’ll never use, you can buy just what you need – no unnecessary extras.
Get Peace of Mind With Safeco
Renters insurance is all about peace of mind. When something happens, your landlord’s insurance covers only the building – not your belongings. It also won’t help you find a place to stay while your apartment is being repaired. This is where renters insurance comes in.
Safeco is built on the power of trust. Owned by Liberty Mutual, Safeco enjoys the financial backing and stability of a Fortune 100 company and the sixth-largest personal insurer in the nation. This stability means that when you protect your home with Safeco, that protection isn’t going away. It will stay right where you need it, no matter what.
Safeco provides a broad range of coverage types, including renters insurance, personal property, liability, and additional living expenses. It also offers optional enhancements and add-ons for valuable articles, identity theft, or extra property protection up to the cost of replacement – giving you a bit of extra security.
Which Company Is Best?
Now that we’ve explored what each provider has to offer, you may be left wondering which one is best. Our answer: all of them. Every renter has a unique set of needs and priorities that different providers may be best equipped to meet:
- Lemonade: Choose this provider if you’re looking for reliable, customer-focused coverage that’s affordable, accessible, and easy to use.
- Franklin Mutual: Choose this provider if you’re looking for a customized policy that covers only the things you care about, without charging for what you don’t.
- Safeco: Choose this provider if you’re looking for the peace of mind that comes from a stable company with reliable financial backing.
All three companies are represented by Muller Insurance. As an independent agency representing multiple providers, we can help customers choose the policy that best suits their needs.
Shop for NJ and NY Renters Insurance with Muller Insurance
Protecting your home isn’t a decision you should rush. Do the research, make comparisons, and find the policy that protects you best with the help of Muller Insurance. Not only can we help you choose the right policy, but we also identify ways for you to save with discounts and bundling. To learn more about how NY and NJ renters insurance providers compare, contact us or request a quote today.
