Progressive Renters Insurance Coverage Quote Online
Like homeowners insurance, renters insurance prepares you and your family for the unexpected. Progressive is the leading carrier for rental policies. If you rent a condominium, apartment or house, renters insurance coverage will protect your belongings while you live there. As a renter, you want to be sure your possessions are protected. This coverage is not something your landlord handles. Most landlords buy insurance to protect the actual dwelling. As a renter you want to be sure your possessions are protected. In some states, renters insurance is required and mandatory; in Tennessee, it is not a state requirement. Landlords may still require a policy in their rental agreement.
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Phone Number: (855)207-9492
Examples Rental Damage Causes
When does renters insurance coverage start applying?
When you experience a loss when renting a living space, renters insurance kicks in to cover damage and expenses.
Renters insurance coverage typically protects you against theft, fire, vandalism, and weather damage while living in a rental unit such as an apartment or condominium. It is sometimes a required policy by the landlord. Even if not required, it is worth talking to an agent to identify options to be sure you are protected. Student discounts and auto bundling savings may apply.
Top 3 Reasons to Buy a Renters Insurance Policy
When you lease an apartment or other property, you may have limited resources to purchase things outside of rent, food, clothing and possibly student or educational expenses. Trying to cut costs when making a personal budget is essential to staying out of credit card or other debt. There are advantages to including this coverage premium in your budget.
Reasons to Purchase Renters Coverage
1. Replacement of damaged belongings
2. Avoid personal liability and medical costs
Repayment for living costs (including short-term rental or hotel stays and some food)
What does rental insurance cover?
The top losses covered include:
Damage to computer, laptop, and tablet coverage
Injuries on the property (liability coverage for personal injuries to other people) This includes charges of liable and slander or wrongful entry
Water damage to property (when water backs up and impacts your belongings, you are covered)
Collectible damage - Progressive Homeshield R coverage (Package that raises payout limits on high value collectibles that may include antique collections or sports memorabilia)
Does Progressive Rental Insurance cover fire damage?
Yes, according to Progressive Insurance’s FAQ page, fire coverage comes standard with a rental policy.
Replaces the Things you Own: Replacement of valuables is a big reason to secure coverage. Paying a low monthly premium can help replace valuables in your dwelling such as furniture, smart phones, your clothes, computers, stereo systems, televisions, cell phones, and more. If these belongings were damaged while in your car or storage unit they will be covered in most cases. High priced belongings such as collectibles and jewelry may have limitations. Be sure to talk to your agent about these items as additional protection may make sense. Remember the Clarksville tornado from 20 years ago? Your belongings would be covered for tornado or hurricane damage with an active policy.
Personal Liability and Medical Expenses:
A renters policy protects you from accidents in your apartment condo or rental home. If a guest is injured in your apartment, for instance, you will be covered. If you leave the water running and it floods a neighbor’s apartment, you will be glad you made the best purchase decision. Progressive generally covers your repairs, attorney fees, and medical expenses related to the incident. Ask your agent for details.
Living Expense Coverage:
When your rental home site is being repaired from a fire, water, vandalism, or other damage claim, Progressive will pay for your hotel and some food expenses. Food expenses are calculated based on what you normally pay for food when you shop for groceries. Progressive will pay the difference between what you regularly spend on groceries and what you had to spend while in a hotel. Some limits apply. This way you won’t face unexpected credit card bills. Be sure to keep all food receipts as these are required for payment.
What is Progressive Homeshield Package?
HomeShield packages offer increased coverage for a wide variety of property and problems, such as increased coverage for collections, watercraft, theft of firearms and business property. HomeShield also adds better home computer coverage and water/sump pump backup protection.
Progressive Renters Discounts
Rental policy discounts are available for the following situations:
Single deductible discount – Combine renters with auto for one deductible for both coverages for use in a single event of loss
Receive a premium quote in advance of securing coverage
Go paperless by requesting online statements and reporting
Gated community discount
Pay in full discount
Additional Progressive Renters Coverage Options
- Personal Injury Protection
- High Value Collections, Art, Antiques, Jewelry
- Backed up Water
Note: Consider flood insurance for outside flooding, such as rising water levels in local rivers or lakes
In addition to standard coverage, Progressive offers other options such as water back-up and personal injury protection (PIP), and certain high-dollar valuable such as gold coin collections. Personal injury coverage takes care of expenses that may result from situations involving libel or slander. Talk to your agent about specifics.
Not included are things like damage to the exterior of the apartment building or the clubhouse, pool or tennis court area, or the roof. The owner is required to pay for damage to the structure and surrounding areas.
About Home Renters Insurance
Progressive Insurance is one of the best known and respected insurers in the country. While best known for their car insurance coverage, and their television commercials with Flo, they offer a wide array of policies to protect home sites including renters insurance policies. Montgomery & Associates agents are happy to provide customers with free renters insurance pricing to secure the best coverage at the best rates. We want to get to know you personally so our policies can best protect you, your assets, and family. Progressive offers competitive pricing, rich benefits, and student discounts, and lower rates for multiple policies.
Insurance Coverage: Apartments Condominiums Duplexes
The insurance that your landlord carries on the home you rent likely covers only the building, rather than the personal contents. The company will pay out for losses related to clothing, electronics, and other possessions. They will reimburse you the amount it costs of replacement, or the cost required to buy the personal items new, not what they are worth at the time. Your personal friends and visitors will also be covered should an injury occur on your property, and if a hotel stay is needed, that is covered too.
Deductibles vary with the premium or rate you pay per month or annually. When the deductible is higher, your out-of-pocket monthly premium is lower. The reason for this is that the insurance company takes on less risk when you have to pay a higher amount out of pocket for an incident. The definition is as follows: Deductible: The amount of money the insurance policy holder has to pay first when a claim is made. After the deductible payment, Progressive starts paying for the claim.
Renters Insurance Deductible Example
Let’s say that your condominium at Icon in the Gulch caught on fire and your furniture was destroyed. The damage was $8000 total to your condo furniture and your deductible was $1000. Progressive would pay you $8000 less your deductible of $1000= $7000 total. Deductibles vary in range and can be as low as $200 or as high as $2000 or more. Consider your budget for premium payments and your ability to cover some of the loss in the event of a claim.
Best Premium Rates
Highly competitive rates, with low premiums and deductibles, offering an inexpensive way for you to protect your belongings and cover yourself from unexpected accidents and injuries. Progressive insurance also offers a discount on renters insurance when you bundle it with your auto insurance policy. Progressive insurance may not always be the lowest price for renters insurance area but your policy rate pricing will always come with the information you need to make an informed decision based on premium pricing, deducible, and quality of coverage.
Montgomery & Associates is based in Nashville and serves our customers in a number of states across the nation.
Renters Insurance Discount Programs
Discounts are a definite advantage available through Progressive. You can earn discounts for having multiple policies such as bundling home and car insurance with Progressive. Premium payment in full can earn a discounted rate. Other premium discounts are available if your complex or subdivision has a security guard at the front entrance or your community is gated. One other way to save money is through deductible bundling. This means if you select Progressive for both your auto, home, or rental protections, you will have only one deductible.
Progressive Discount Programs
Montgomery & Associates offers free Progressive renters insurance premium pricing customers along with comparisons of premiums offered by competitive companies.
If you are a landlord seeking reduced risk options, we have a commercial property team of agents to help.
Note: The state of Tennessee does not require tenants to secure a rental insurance policy.
Progressive Rental Insurance Costs
What is the average cost for Progressive renter’s insurance in Tennessee?
The average monthly premium is $21 in the state of Tennessee as of 2023, with rates ranging from $14 to $30 per month. The state in which you reside is a significant determining factor as to the cost of the policy.
The actuaries at the company will set the premium and deductible based on the following factors:
- Crime in the neighborhood, based on zip code and police data
- Type of dwelling (condominium, duplex, apartment, or single-family house)
- Premiums for protecting houses are generally higher than a multi-storied apartment, due to higher crime and reduced fire safety features that accompany houses
- Credit score
- Deductible amount
Landlord Loss Responsibility
Whether you own your home or rent, the personal contents of the home likely belong to you and should a fire or any other disaster occur, you need to be prepared. Landlords hold their own homeowners or landlord policy. They often require tenants to secure a policy as part of your lease agreement. Ready to start?
Call our quote customer service number phone line: 855.207.9492