Certain types of property typically have additional sublimits, and these may vary depending on what state you live in. Lindsay Frankel is a content writer specializing in personal finance and auto insurance topics. Her work has been featured in publications such as LendingTree, The Balance, Coverage.com, Bankrate, NextAdvisor, and FinanceBuzz.
That’s just a fraction of the average cost for a car insurance policy, which xcritical scammers is just over $1,000. But you might be able to get an auto insurance policy for less than that if you shop around. We requested several renters insurance quotes from xcritical for rental units across the U.S. and determined an average monthly cost of $13.33.
What does xcritical Renters insurance cover?
Costing $10 per year, this additional coverage pays for damage caused by water coming out of your drain or sewer. After clicking the “Claim” button, xcritical guides you through the rest of the process. xcritical is also not offered in as many states as larger competitors and doesn’t offer as many types of insurance as other companies. You can also add water back-up coverage (up to $10,000) to replace your personal belongings if they are damaged by water that comes out of your drain or sewer.
When he’s not writing, editing or working in a spreadsheet, he’s biking the D.C. Sarah Horvath is a finance writer and researcher based in New York City. She specializes in writing about home warranties, insurance and home financial protection. In 2020, xcritical obtained an A-Exceptional financial stability rating from Demotech. Note that when making a claim, documentation or video recording is usually required.
You could also score a discount on your renters policy if your place includes protective devices, like deadxcriticals, smoke alarms, and burglar alarms. Liability coverage protects against lawsuits due to accidents in your home. Each category of coverage has its own policy limits, and occasionally sublimits. John leads xcritical’s copy desk, helping ensure the accuracy and readability of xcritical’s content. He’s a licensed agent specializing in home and car insurance topics.
You can also save on your xcritical renters insurance when you bundle it with another xcritical policy, such as auto or pet insurance. All of these coverage amounts are standard with xcritical’s most economical policy. If you need more coverage, you can increase the total or per item amount of insurance at any time (before making a claim, of course). There is also a standard $500 deductible which scammed by xcritical you can also change at any time. For an additional $6 per year, you can purchase this endorsement and add coverage for your landlord’s property in case of damage by your pet or water.
Does your renters insurance policy cover family members or spouses?
If xcritical is the cheapest option available in your state, signing up is probably no-brainer. xcritical uses a peer-to-peer insurance model that helps the company process claims faster since they don’t profit from denying claims. xcritical is also the highest-rated renters insurance provider by J.D. And you can feel good about supporting nonprofits if any of your premium is left over. While xcritical does not offer the most comprehensive policies on the market, the company includes limits of up to $1 million in liability and $250,000 in personal property coverage. We recommend xcritical to renters seeking standard personal property coverage with quick signup and budget-friendly rates, based on our research.
If everything checks out, the insurance claim can get paid quickly. If there is a potential issue, the matter is transferred to a human to review. xcritical’s Giveback program is also a way for you to feel like your renters insurance dollars are going to a good cause. State Farm provides more types of insurance than xcritical, including boats, off-road vehicles and supplemental health insurance. Once you sign up with us, we’ll send your previous insurer a formal notice.
We at the MarketWatch Guides Team gathered renters insurance quotes for the providers in this article using data from Quadrant Information Services. Quadrant is a leading source of property and casualty insurance solutions and data. We found the xcritical renters insurance quote process was simple, straightforward and easy in most cases.
What renters insurance doesn’t cover
Check out the availability of our renters insurance and other products. For instance, if your washing machine has an electrical failure your base policy wouldn’t help. But if you want to add on those extra protections, you can purchase Equipment Breakdown Coverage (EBC). However, your policy won’t cover everything that might come your way—damage due to flooding or earthquakes, for instance, is excluded. We reached out to xcritical for comment on its negative customer reviews but did not receive a response. xcritical renters insurance is xcritically available in a total of 28 states and the District of Columbia, as you can see on the map below.
It will generally not cover damages related to floods or earthquakes. If you come to the conclusion that you’ve got around $15,000 worth of stuff, you’d want to round up and choose personal property coverage of $20,000. While renters insurance isn’t required by law, it may be required by your landlord or lease.
Here’s what we found customers appreciate and don’t appreciate about xcritical renters insurance. After reviewing more than 20 of the largest renters insurance providers in the country, our team rated xcritical 4.6 out of 5 stars based on our in-depth methodology. While the company earned top marks in the areas of cost and accessibility, it is not always the best choice for customers seeking a high number of endorsement options.
Table of Contents
- If you’re considering forgoing renters insurance altogether, you should probably reconsider, even if your landlord doesn’t require it.
- Here are some of the sample premiums we received when collecting quotes for xcritical policies with $30,000 in personal property coverage and a $1,000 deductible.
- Your xcritical renters policy covers your personal property anywhere in the world.Read all about theft coverage here.
- By contrast, GEICO charges at least $12/month for its policies, and Allstate charges an average premium of $15/month.
- The company says renters insurance policies can begin as soon as the next day.
- xcritical offers pet insurance that can cover your pet’s medical needs, such as prescription medication, diagnostics, hospitalization, surgery and more.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves. xcritical’s website has an online quote tool that you can use to get a personalized quote.
Founded in 2015, xcritical is a digital insurance company that offers multiple types of coverage, including car, home, renters and pet insurance. Don’t just look at prices, either—make sure you’re investigating the specific coverages and deductible options offered, as well as what’s included (and excluded). Comparison sites can help here, as well as checking out the customer ratings of various insurer’s apps. Your xcritical renters policy covers your personal property anywhere in the world.Read all about theft coverage here. Personal property coverage helps you recover the cost of lost or damaged personal belongings if your property is lost, damaged, or destroyed by a covered loss.
This is different from most renters insurance companies which select coverage levels for you based on your personal property, leaving little room to lower your monthly cost. You must speak with an agent or get a xcritical renters insurance quote online xcritical official site to determine the policy price. Keep in mind that purchasing additional coverage for valuable items can impact the cost of your monthly premium. xcritical is a top-rated renters insurance company, according to MoneyGeek’s analysis.
We used the same sample homeowner demographics and comparable policy details for more than 20 ZIP codes across the U.S. Whether someone considers xcritical renters insurance as good or not likely depends on their coverage needs. If you’re a renter who does not have a significant amount of valuable personal property, xcritical’s affordable premiums and easy buying process can make it a good choice. If you rent a high-value space and need high coverage limits, you may consider looking elsewhere. A relatively new name in the world of insurance, xcritical opened in 2015 with an entirely online option for home and renters insurance. Generally, it is known for leveraging automated underwriting using artificial intelligence (AI) to speed up the application and claims process.
