The Best and Cheapest Renters Insurance in Swanton,Vermont for 2024: Rankings, Reviews and Rates

The Cheapest and Best Renters Insurance in Swanton,Vermont

Since companies offer the same coverages, renters should consider the cost of renters insurance in Swanton,Vermont when choosing a policy. Keep in mind that comparing quotes is essential to find the best option for your needs.

CheapInsuranced found that the cheapest renters insurance in Swanton,Vermont is with:

• USAA: $74 per year (only available to military members and their families)
• State Farm: $101 per year

USAA policyholders get great value for their money since all renters insurance policies reimburse items at replacement cost. Plus, policies cover flood and earthquake damage.

The sample policy in this guide has $20,000 in personal property coverage, $100,000 in liability coverage, and a deductible of $500. Review the table below to see how prices can change when you adjust your personal property coverage limit.

AVERAGE ANNUAL RATES FOR PERSONAL PROPERTY INSURANCE

What Renters Insurance Companies Offer the Most Cheapest Coverage in Swanton,Vermont?

CheapInsuranced assessed and ranked the most budget-friendly renters insurance companies in Swanton,Vermont, and the results point to the top contenders:

Cheapest Option: USAA (exclusive to active/retired military and their families) Runner-Up: State Farm

Utilizing a distinctive rating methodology encompassing affordability, J.D. Power's customer satisfaction scores, and AM Best's financial stability ratings, CheapInsuranced identified these companies. Notably, these top providers extend coverage options that may be rare among other market competitors.

Overview of Rankings:

1. USAA
   • Score: 100
     • Affordability: 5/5
     • User Satisfaction: 5/5
     • Financial Stability: 5/5

Quick Take: USAA secured perfect scores in all categories, solidifying its position as CheapInsuranced's premier choice in Swanton,Vermont. Offering competitive rates nationwide, USAA's renters insurance is exclusively available to current and former military members and their families. Noteworthy features include coverage for earthquakes and flood damage, with additional discounts for active military personnel and continued coverage during overseas deployment.

More About USAA: USAA stands out for providing renters insurance policies inclusive of protection against earthquakes and flood damage. Military personnel currently in service are eligible for extra discounts, and coverage is maintained even during overseas deployment.

2. State Farm
   • Score: 87
     • Affordability: 4.3/5
     • User Satisfaction: 4.1/5
     • Financial Stability: 5/5

Quick Take: State Farm emerges as an excellent choice for non-military renters in Swanton,Vermont, garnering high ratings for affordability and customer service. State Farm distinguishes itself by offering add-on inflation coverage, a feature that sets it apart.

More About State Farm: State Farm consistently provides affordable options nationwide. It simplifies the process of increasing coverage limits for valuable items, such as jewelry, during the quoting phase. Additionally, State Farm offers the rare benefit of inflation coverage, automatically increasing the personal property coverage limit over time.

Average Cost of Renters Insurance in Swanton,Vermont for 2023:

• Swanton,Vermont: $122
• U.S.: $159

Renters insurance in Swanton,Vermont proves to be 23.0% more economical than the national average, with an annual cost of $122 or $10 per month. This cost is notably $37 less than the U.S. average of $159 per year.

Benefits of Renters Insurance in Swanton,Vermont

Renters insurance in Swanton,Vermont provides valuable protection for tenants, offering numerous benefits that extend beyond mere coverage. Understanding these advantages can help renters make informed decisions about securing the right policy for their needs. Here are the key benefits of renters insurance in Swanton,Vermont:

1. Protection for Personal Property:

Renters insurance safeguards your personal belongings, including furniture, electronics, clothing, and more. In Swanton,Vermont, where property crime rates exist, having coverage is crucial to recover the costs of stolen or damaged items.

2. Additional Living Expenses Coverage:

If your rented dwelling becomes uninhabitable due to a covered peril, renters insurance covers additional living expenses. This means the policy helps pay for temporary accommodation, meals, and other essential costs, ensuring you're not financially burdened during a crisis.

3. Personal Liability Coverage:

Renters insurance includes personal liability coverage, offering financial protection in the event you're responsible for accidental damage to someone else's property or if someone is injured on your rented premises. It covers legal expenses and court fees, providing peace of mind in potential liability situations.

4. Medical Payments Coverage:

In case of injuries sustained on your rented property, regardless of fault, renters insurance includes medical payments coverage. This covers medical expenses for the injured party, reducing the likelihood of legal disputes.

5. Protection Against Specific Events:

Renters insurance in Swanton,Vermont typically covers various perils, including fire, theft, vandalism, and plumbing issues. Given the occasional risks associated with natural disasters and accidents, having comprehensive coverage ensures you're financially prepared for unforeseen circumstances.

6. Affordable Financial Security:

Renters insurance is relatively affordable, with policies tailored to fit different budgets. For an average cost of $122 per year in Swanton,Vermont, tenants gain substantial financial security, ensuring they don't face significant financial setbacks in the event of covered incidents.

7. Compliance with Lease Agreements:

Many landlords in Swanton,Vermont may require tenants to have renters insurance as a condition of the lease agreement. Securing coverage ensures you comply with these requirements, preventing any lease violations that could lead to eviction.

8. Peace of Mind:

Knowing that your personal property is protected, and you have coverage for unforeseen events, brings peace of mind. Renters insurance allows you to enjoy your rented space without constant worry about potential financial losses.

9. Flexibility and Customization:

Renters insurance policies in Swanton,Vermont are flexible, allowing you to customize coverage based on your specific needs. Whether you have high-value items or unique requirements, you can tailor your policy accordingly.

10. Ease of Replacement for Lost Items:

In the unfortunate event of theft or total loss of personal belongings, renters insurance ensures a smoother recovery process by providing funds to replace lost items. This ease of replacement helps tenants recover more quickly after a covered incident.

Renters insurance in Swanton,Vermont is a practical and cost-effective way to safeguard your belongings and ensure financial stability in unexpected situations. Whether it's complying with lease agreements or protecting against specific perils, the benefits extend far beyond the policy premium.

Several factors contribute to the computation of renters insurance costs, and being aware of these elements is crucial for making an informed decision. Here are the primary aspects that significantly impact the expenses associated with renters insurance:

1. Personal Property Coverage Amount: The foremost determinant affecting renters insurance costs in Swanton,Vermont is the coverage amount you choose. Generally, opting for higher coverage translates to a higher premium.
2. Location: Your geographical location is a pivotal factor in determining insurance costs. Renters situated in neighborhoods with a history of property theft or susceptibility to severe weather events may face increased coverage expenses.
3. Deductible: The deductible amount you select influences your out-of-pocket expenses when filing a claim for item replacement. Opting for a higher deductible often results in a lower premium.
4. ACV vs. RCV: Insurance reimbursement can follow either actual cash value (ACV) or replacement cost value (RCV). ACV considers the depreciated value of your used items, while RCV covers the equivalent cost of a new item of similar kind and quality.
5. Liability Coverage Amount: While your liability coverage amount has a marginal impact on your premium, standard renters policies typically include $100,000 in liability coverage. Additional coverage can be added at a nominal cost per year.

Determining the Appropriate Level of Renters Insurance

Understanding Renters Insurance in Swanton,Vermont While renters insurance is not obligatory in Swanton,Vermont, having a policy is a prudent and cost-effective measure to safeguard your possessions from potential theft or damage. Some landlords may even make it a requirement as part of your lease agreement.

Coverage Offered by Renters Insurance in Swanton,Vermont Choosing the right coverage is crucial when shopping for renters insurance. Sufficient coverage is vital for financially protecting your personal items, especially in a city like Swanton,Vermont, where the property crime rate was 43.91% above the national average in 2019, as per FBI statistics.

Renters insurance in Swanton,Vermont typically covers:

1. Personal Property: This includes coverage for damage or theft of personal belongings such as clothing, electronics, and appliances within your residence.

2. Additional Living Expenses: In case your dwelling becomes uninhabitable due to a covered event, your renters insurance policy can cover temporary housing costs up to policy limits.

3. Personal Liability: Renters insurance includes personal liability coverage, protecting you in the event of an accident in your rented property resulting in damages or injuries to others. This coverage often covers legal expenses and court fees.

4. Medical Payments: The policy usually includes medical payments coverage, catering to injuries sustained on your property, irrespective of fault, up to policy limits.

Exclusions in Renters Insurance in Swanton,Vermont It's essential to be aware of what renters insurance doesn't cover. Notably, it doesn't cover the physical structure of the building, which is the landlord's responsibility. Moreover, damages caused by floods are generally not covered, requiring additional insurance through the National Flood Insurance Program (NFIP).

Additionally, renters insurance usually excludes coverage for your roommate's possessions, earthquake damage (with most companies), damage to your vehicle, and high-value items like jewelry exceeding your policy limit. Thoroughly reviewing your policy before purchase is recommended to ensure adequate coverage.

Remember, while renters insurance is optional in Swanton,Vermont, having a policy is recommended by CheapInsuranced to protect your personal assets, and your landlord may also require you to have coverage.

Renters Insurance in Swanton,Vermont Analysis: Methodology CheapInsuranced conducted an extensive analysis of hundreds of renters insurance quotes in Swanton,Vermont to assist you in finding affordable options. The best renters insurance rankings were determined using data from J.D. Power, AM Best, and affordability metrics derived from a comprehensive analysis of quotes provided by Quadrant.

Frequently Asked Questions About Renters Insurance in Swanton,Vermont

1. How much is renters insurance in Swanton,Vermont on average? On average, renters insurance in Swanton,Vermont costs $122 per year or $10 per month.

2. What is the cheapest renters insurance company in Swanton,Vermont? Based on average rates, the most affordable insurers in Swanton,Vermont are USAA ($74 per year for eligible military members) and State Farm ($101 per year).

3. What is the best renters insurance company in Swanton,Vermont? CheapInsuranced identifies USAA (for military families) and State Farm (for non-military members) as the best renters insurance companies in Swanton,Vermont.

4. Do I need renters insurance in Swanton,Vermont? Renters insurance in Swanton,Vermont is optional. However, CheapInsuranced recommends getting a policy to protect your personal assets, and your landlord may require you to have coverage.

5. What does renters insurance in Swanton,Vermont cover? Renters insurance typically covers personal property, additional living expenses, personal liability, and medical payments. It protects against events like theft, fire, and plumbing issues.

6. What is not covered by renters insurance in Swanton,Vermont? Renters insurance doesn't cover the physical structure of the building, damage caused by floods (requires separate flood insurance), earthquake damage (with most companies), your roommate's possessions, damage to your car, and high-value items exceeding your policy limit.

7. How can renters insurance benefit me in Swanton,Vermont? Renters insurance in Swanton,Vermont offers financial protection for your personal belongings, covers living expenses if your dwelling becomes uninhabitable, provides liability coverage for accidents, and includes medical payments coverage for injuries sustained on your property.

8. Is renters insurance required by law in Swanton,Vermont? No, renters insurance is not mandatory by law in Swanton,Vermont. However, it is a recommended and cost-effective way to safeguard your belongings and meet potential lease requirements set by landlords.

9. How was the analysis of renters insurance conducted in Swanton,Vermont? CheapInsuranced conducted a comprehensive analysis of hundreds of renters insurance quotes in Swanton,Vermont. Rankings were determined based on data from J.D. Power, AM Best, and affordability metrics derived from a thorough analysis of quotes provided by Quadrant.

10. Are there specific considerations for military members in Swanton,Vermont? Yes, military members in Swanton,Vermont may find USAA to be a particularly affordable and beneficial option for renters insurance, tailored to their specific needs.

• USAA Renters Insurance Review

• Written by Brenda Woods Updated 02/19/2024

• Brenda Woods is an accomplished writer and managing editor with more than two decades of publishing experience. She has spent over 10 years covering home services and home improvement projects. Brenda supports her team in evaluating dozens of home service providers, surveying and speaking to hom…

• In This Review: Pros and Cons | Cost & Discounts | Coverage | State Availability | Filing a Claim | Conclusion | Comparison | Company Information | FAQ | Methodology

• USAA was founded close to 100 years ago with the goal of helping current or former military members and their family. One way USAA helps military members and their family members is by providing renters insurance with personal property and liability coverage for as low as $10 per month.

• Keep reading our USAA renters insurance review and determine if it’s the best renters insurance company for you and your family.

• Pros and Cons

• Compare the advantages and disadvantages of a USAA renters insurance policy below.

• How Much Does USAA Cost?

• The cost of USAA renters insurance can be as low as $10 per month. The This Old House Reviews Team requested a quote to verify that price using information for a three-bedroom apartment in Raleigh, North Carolina:

• Your USAA renters insurance deductible will be $250, $500, $1,000, or $2,500.

• To get your own quote, you’ll have to determine if you’re eligible by answering questions regarding your military history or your family member’s history. Once you’re eligible for coverage, you can create an account and input the following information to receive a quote:

• Cost of USAA Renters Insurance

• Deductible

• $500

• Monthly cost

• $18.84

• USAA Renters Insurance Coverage

• USAA covers the following events:

• USAA renters insurance includes three main coverage areas:

• 1. Personal Property Coverage

• This part of the policy protects the belongings you own in the apartment or home you rent. USAA offers replacement cost coverage, which means that if one of the covered events damages your items, they will cover replacement costs as if the items were new.

• The quote we received from USAA included $30,000 for personal property coverage.

• 2. Liability Coverage

• If you’re responsible for damaging your neighbor’s property or injuring them, your policy will cover the cost to repair or replace their items or pay their medical bills.

• Our USAA quote included $100,000 for liability coverage.

• 3. Coverage for Medical Payments to Others

• If a guest is injured in your home, your policy may cover the medical bills if they see a doctor.

• The USAA quote we received included $5,000 per person for medical payments to others.

• Here are the available coverage amounts according to North Carolina information:

• USAA Range of Coverage

• Personal Property

• $25,000–$750,000

• Liability

• $100,000–$1,000,000

• Medical Payments to Others

• $5,000

• USAA Additional Coverage

• USAA allows you to buy extra personal property coverage for more expensive items with valuable personal property and computer and tablet add-on options.

• State Availability

• USAA Renters insurance is available in all 50 states, so no matter where you currently live or decide to move you will be able to use USAA. To see a complete list of the top providers in your area, click on your state in the list below:

• Alabama | Alaska | Arizona | Arkansas | California | Colorado | Connecticut | Delaware | Florida | Georgia | Hawaii | Idaho | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Minnesota | Mississippi | Missouri | Montana | Nebraska | Nevada | New Hampshire | New Jersey | New Mexico | New York | North Carolina | North Dakota | Ohio | Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina | South Dakota | Tennessee | Texas | Utah | Vermont | Virginia | Washington | West Virginia | Wisconsin | Wyoming

• Customer Service and Claims Support

• USAA has a customer portal and mobile app so that you can review your policy and file a claim at any time. To talk to a customer service representative, call 210-531-8722 or 800-531-8722, and you’ll be forwarded to the correct department. The claims center is open 24 hours a day, but the rest of the departments have limited hours.

• Our Conclusion

• If you’re a current military member, veteran, pre-commissioned officer, or the spouse or child of someone in the military, we recommend getting a quote for USAA renters insurance. The insurance policy offers standard personal property and liability coverage with unique coverage for floods and earthquakes. You also get to enjoy certain USAA membership perks for free, like car buying discounts and travel deals.

• Along with your quote from USAA, we recommend requesting renters insurance quotes from at least two other insurance carriers so that you can find the policy with the type of coverage you want at the price you can afford.

• USAA Renters Insurance vs. The Competition

• If you’re not sure whether USAA is right for you, compare it to other top-rated renters insurance companies below.

• Compare Renters Insurance Companies

• Known for

• Flood and earthquake coverage

• Credit card coverage in the basic policy

• Multiple discounts

• Monthly price

• As low as $10

• About $20

• About $16

• Customer service

• 24/7 for claims; limited for sales and service

• 24/7 for claims; limited for sales and service

• 24/7

• BBB rating

• B+

• A+

• A+

• Company Overview

• Frequently Asked Questions About USAA

• Does USAA renters insurance cover mold?

• USAA doesn’t cover damage caused by mold, but they cover mold if it was caused by another event. For example, if water damage causes mold, your policy will take care of the mold because it wasn’t the original cause of damage.

• What are the benefits of a USAA membership?

• As a USAA member, you can join a USAA bank and purchase any of their insurance products, including life insurance, home insurance, and auto insurance. You can also save money with a wide range of shopping discounts for car rentals, traveling, security systems, car buying, and more.

• Is a USAA membership free?

• As long as you’re eligible for a USAA membership, you can join for free.

• Does USAA offer renters insurance discounts?

• Yes. You can get discounts for bundling several insurance policies, for being claims-free, and for having safety features in your home, like a monitored alarm system.

• Does USAA renters insurance cover dogs?

• Yes. In fact, USAA is one of the few insurance providers that cover all dog breeds. Other renters insurance companies historically exclude malicious breeds and require you to purchase extra coverage to protect yourself from liability claims related to your pet.

• Our Methodology

• The This Old HouseReviews team is committed to providing comprehensive and unbiased reviews to our readers. This means earning your trust through transparency and having the data to back up our ratings and recommendations.

• With that in mind, we created an objective rating system to score each renters insurance company. Here’s what that review process looked like:

• With this data, we created a rating methodology to score each home insurance company. Our rating system is a weighted, 100-point scale based on the following factors:

• Our Reviews team has a full-time researcher who collects and regularly updates data points from every company to help us compare them on key factors such as coverage, service, and dependability.

• *AM Best ratings accurate as of August 2023

• To share feedback or ask a question about this article, send a note to our Reviews Team at reviews@thisoldhousereviews.com.

• Copyright © 2024 This Old House Ventures, LLC. All rights reserved.