Does Renters Insurance Affect Auto Policy Premiums?

Progressive offers renters insurance for as little as $1 a day, and bundling it with your auto insurance can save you an average of 3% on your auto policy premium. The average cost of renters insurance through Progressive ranges from $14 to $30 per month, depending on your state. Progressive also offers a wide variety of discounts on renters insurance, such as quoting in advance, paying in full, and receiving documents by email.

Pros and cons of getting renters insurance from Progressive

Progressive offers renters insurance, and there are pros and cons to adding it to your existing Progressive car insurance policy.

Pros

• Easier to manage two policies with one company.
• You can save an average of 3% when you bundle renters and auto insurance with Progressive (the discount will be applied to your auto policy).
• You can combine many other policies, including renters and motorcycle, boat and renters, and more. You may get extra renters discounts for each.
• You can get a discount if you shop ahead and get a quote at least three days before your policy starts.
• You can get a discount if you're comfortable receiving your documents via email.
• You can get a discount if you pay your policy upfront in full.
• You may earn a discount if you live in a secured/gated community.
• If you bundle renters and auto insurance with Progressive, and a single event causes a loss for which coverage applies to both policies, only one deductible may apply.

Cons

Progressive may not be the cheapest option for your unique situation. It is recommended that you shop around and get quotes from several companies to make sure you’re getting the best possible rate.

Discounts on renters insurance from Progressive

Progressive offers a wide variety of discounts on renters insurance. You can save an average of 3% when you bundle renters and auto insurance with Progressive. The discount will be applied to your auto policy. You can also combine many other policies, including renters and motorcycle, boat and renters, and more. You may get extra renters discounts for each.

You can also get a discount if you get a quote at least three days before your policy starts. If you're comfortable receiving your documents via email, you may be eligible for another discount. You can also get a discount by paying your policy upfront and in full.

If you live in a secured or gated community, you may be eligible for a discount. For example, if you drive by a security guard or use a key or remote to enter a gated complex, you may be eligible for a discount.

Additionally, if you bundle renters and auto insurance with Progressive, and a single event causes a loss for which coverage applies to both policies, only one deductible may apply. This benefit is only available with renters insurance through American Strategic Insurance ("ASI"), one of the insurers in Progressive's network.

How to get a quote for renters insurance from Progressive

Progressive offers renters insurance, and you can get a quote by either calling 1-888-671-4405 or going online to chat with an agent. Progressive also offers discounts on renters insurance, such as a 3% discount when bundling renters and auto insurance. You can also get a discount by getting a quote at least three days before your policy starts, receiving documents by email, and paying your policy upfront in full. Additionally, you may be eligible for a discount if you live in a secured or gated community.

Cost of renters insurance from Progressive

The cost of renters insurance from Progressive depends on various factors, including your location, coverage limits, and the type of structure you're renting. According to 2021 data, the average cost of renters insurance through Progressive ranges from $14 to $30 per month, depending on your state. However, Progressive offers renters insurance for less than $1 a day in most states.

Renting a single-family home will likely be more expensive than renting an apartment due to a higher risk of theft in homes. Additionally, living in a gated community or a high-rise complex with increased security features may result in lower renters insurance rates.

Progressive offers several discounts to make renters insurance more affordable. For example, you can save an average of 3% by bundling renters and auto insurance policies. Other discounts include getting a quote at least three days before your policy starts, receiving documents by email, and paying your policy upfront in full.

It's important to note that Progressive Home doesn't offer renters insurance in Hawaii or Alaska. To get an accurate quote for your specific situation, you can contact Progressive or use their online tools.

What renters insurance from Progressive covers

Renters insurance from Progressive covers personal property, loss of use, personal liability, and medical payments to others. These coverages protect your personal belongings from damage or theft, and also cover liability if you're legally responsible for damages to someone else's property or their injuries. It also covers additional living expenses if you're forced to live elsewhere while your residence is being repaired or rebuilt due to a covered loss.

Personal property coverage includes items such as clothing, electronics, furniture, tools, and appliances, and may also include personal belongings in your car, storage unit, or while travelling. Certain limitations may apply to high-value items like jewelry, art, and heirlooms, but additional coverage can be purchased for these items.

Loss of use coverage pays for hotel, rent, and food expenses above your normal cost of living if you're unable to stay in your rental unit due to a covered incident.

Personal liability coverage applies if you're liable for injuries to another person or damage to their property, and may also cover lawsuit costs.

Medical payments coverage pays for the medical bills of someone who is injured in your rental space, up to your policy's limit.

Progressive also offers optional coverages such as water backup coverage and personal injury coverage, which pays for legal fees and damages resulting from lawsuits like slander or libel.

Frequently asked questions