Assurant Insurance Review: Renter’s Insurance for 2023?

Last Updated: February 26, 2023

Getting a renter’s insurance can be easy. But, if there are confusing add-on policies, then it only “adds on” to your dilemmas.

Assurant renters is a carrier with significant renter’s insurance policies. Is Assurant the right one for you? Let us help you decide through this Assurant insurance review.

About Assurant

With over 40 years of experience, Assurant Insurance is one of the renowned insurance companies, and a market leader in lender-placed insurance. They initially started out with disability insurance. Later, they expanded their services to health insurance plans (currently discontinued), specialty insurance, pre-funded funeral insurance, and more. Assurant is yet one more entity to take insurance to the global scale. They not only provide their services across all 50 states of the U.S., but also operates in Europe, Latin America, and Asia. Assurant Insurance also recently started out with renters’ insurance and shipping insurance.

 

Ranked with “A” rating for excellent financial strength by A.M. Best, and over a $100 million invested in improving the customer experience, Assurant Insurance has gained quite a large community of insureds.

Assurant not only provides insurance/protection products, but also helps with outsourcing services, repair services and customer support for businesses. But since we’re only looking into insurance related products, we will only be analyzing the carrier with regard to insurance.

Strategic Strengths and Weaknesses of Assurant Insurance

Before we dive right into the details, let’s have a look at the major strengths and weaknesses of the insurance carrier. These give way for key factors to look into before you decide on Assurant for your choice of insurance.

• Insureds can have low deductibles that allow a bigger claim check.
• Their coverage is easily transferable.
• Renters’ policies cover full replacement cost of belongings.
• There is a provision of unemployment insurance.
• There is a provision of coverage for damage caused by pets.
• Roommates are not required to pay extra for an existing renter’s insurance.
• Insured people have an option to pay premiums monthly.

• NAIC has mentioned a high number of customer complaints.
• Assurant does not have a provision for upfront pricing.
• The monthly rates for insurance are high; especially renters’ insurance.
• Customers have complained about the claims process being too confusing.
• There are only a few discounts available.

Ratings and Reviews of Assurant Insurance

A	A.M. Best Ranking	How do other auto and motorcycle insurance carriers compare to Assurant Insurance?
A.M Best has provided a rank of A, considered superior ranking, for Assurant’s financial strengths and credibility.		Allstate Insurance ⭐⭐⭐ Progressive Insurance ⭐⭐⭐⭐⭐  GEICO Insurance ⭐⭐⭐⭐⭐  USAA Insurance ⭐⭐⭐⭐ Lemonade Insurance ⭐⭐⭐⭐
1.57	NAIC
The National Association of Insurance Commissioners (NAIC) has given a 1.57 rating. An insurance carrier with a rating above “1” has more than the average number of customer complaints.
Ratings from Assurant Insurance Reviews for Assurant’s overall quality as an insurance carrier
WalletHub	⭐⭐⭐⭐
Value Penguin	⭐⭐
Clearsurance	⭐⭐⭐
Trustpilot	⭐⭐⭐⭐

Major Assurant Insurance Products

Assurant is a market leader in the lender-placed insurance segment. Lender-placed insurance commonly refers to an insurance policy placed by a bank or a mortgage servicer on a home. This usually takes place either when the homeowners’ own property insurance has lapsed or when the bank considers the homeowners’ insurance insufficient. Here’s a brief outlook on the major insurance products they provide.

Renters’ Insurance

Assurant’s Renters’ Insurance is currently available in all of the 50 states of the U.S. In the matters of cost, however, they are at a quite steeping side. They provide an elaborate renter’s insurance plan with extra coverage at extra costs.

Renter’s Insurance
Personal Property Rental Coverage
Provides Protection Against	Damages caused by fire, lightning, windstorm, hail, ice, snow, and sleet	Vandalism and theft
	Falling objects	Burst pipes, damaged AC, damaged water system and heating system
	Vehicles running over	Riot and civil commotion
	Aircraft damage	Volcanic eruption
Covers	Roommates	Belongings in storage or in apartment
	Damage by mold	Location-wise coverage of flood, food spoilage and bedbugs
Extra Coverage at Extra Cost
Replacement cost coverage	Sewer backup	Damages caused by pets
Unemployment insurance	Identity fraud coverage	Earthquake coverage (Washington & California)
Liability-Only Renters Coverage
Includes	Sewer backup	Damages caused by pets
Provides Protection Against	Fire damage	Water damage
	Smoke	Explosions

Flood Insurance

The flood insurance provided by Assurant Insurance generally covers dwellings, general properties, and residential condominium buildings.

Shipping Insurance

Through shipping insurance, Assurant provides coverage for freight and parcels. Optimal for regular and active shippers, their shipping insurance is considerably cheaper, with faster claims process and easily integrable to one’s shipping system.

Other insurance products:

• Mobile Device Insurance
• Appliance & Tools Insurance
• Homeowners Insurance

Sample Customer Reviews

The claim was fast and easy. The page auto filled some incorrect info that I was unable to change but was able to explain that in “detailed information.” Overall, it wasn’t a problem and processed within one minute. Thank you, Assurant!

I will cancel my policy with them. My phone broke and it took over three months to get my reimbursement and that’s only because I stayed on them with multiple emails, phone calls and messages on the site. They stalled and delayed every single process they could on their end almost as if they were informed to do so by the higher ups. Had I have been a less persistent person I may have never gotten reimbursed. They fought me on everything possible.

It was relatively easy to set up a claim. The person that called me was very professional and efficient. So glad I have Assurant for renters’ insurance.

I recently had a terrible experience with Assurant. I had a renter’s insurance policy with them, and wanted to change to condo insurance after purchasing condo. Making the change required canceling the renter’s insurance and getting a new condo insurance. The first customer service agent greeted me with a yawn (!), funny but also a bit awkward. Then I got shuffled around several times until speaking with an agent trying to find me the condo insurance. She started to ask me a lot of specific questions, and told me the first insurer would not insure my condo, the second insurer would not insure my condo (apparently Assurant is just a broker for condo insurances?). Notably, it’s a brand-new condo in a brand-new high rise. While this agent was looking for insurance, I went to the website of a competitor (where I have my car insurance) and five minutes later I had my condo insurance.

I was very pleased to be able to quickly file a repair claim with Assurant on their website and even happier that I could schedule the repair of our dishwasher for the day after tomorrow!

Conclusion

Having quite a number of insurance products and deliverables, we believe Assurant is definitely an insurance carrier worth looking into if you’re interested in its multifaceted protection and service schemes.

You can also choose Assurant, if you’re interested in their low deductibles. With low deductibles; as low as $100, customers can actually get a much bigger claim check when required. So, it might be optimal for customers wanting a low deductible to choose this insurance carrier.

However, if you’re not too keen on its slightly expensive rates, and comparatively fewer discounts on their insurance plans, we recommend you to check out other insurance carriers.

Agency Height is a platform for insureds and insurance agents to connect with each other. Our insurance blog is developed solely for informational purposes. The content provided in Agency Height’s insurance reviews focuses on educating insurance seekers to help them make informed choices when it comes to purchasing insurance.

Source

• Assurant
• Crain’s Chicago Forum
• Insurance Forum
• Low Cost Health Insurance
• Nerd Wallet
• Smart Renter’s Insurance
• Value Penguin