Geico Renters Insurance Review (2022)

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Geico renters insurance is a reliable insurance agency that provides renters policy with low deductibles, suitable coverage, and strong financial backings. Geico is one of the cheapest renters insurance agencies that provide coverage for an apartment, personal property, loss of use, liability and so much more. There is no doubt that Geico still holds its reputation as the second auto insurance giant across the United States covering more than 27 million vehicles. However, Geico also offers other types of insurance through other third party insurance companies.

Geico Renters Insurance Review (2021)

Facts about Geico renters insurance

To take advantage of the best renters insurance at Geico is to put a Gold mine opportunity into your home. When you purchase renters insurance policy at Geico, you will get a bundle discount for both renters and auto policies especially if you have already purchased the car insurance policy. Unlike its car insurance, Geico provides renters coverage but the risks on the policies are transferred to third party companies. This means Geico manages the policies by acting as the “insurance agent” but it is serviced and underwritten by the third party companies.

After purchasing the renters policy at Geico, the agency matches you with one of its 31 partners which include USAA, Progressive, Liberty Mutual, Travelers, and many others. Meanwhile, you will get access to file a claim directly with the third-party insurance agency. All you need to do is go through the Geico website and log in to your account to get the required information about your renters policy.

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What does Geico renters insurance cover?

Geico insurance offers you different types of coverage through the third party partners assigned to you. The following renters policy coverage includes:

  • Personal property coverage – this covers your personal belongings if they are damaged or stolen. Through Geico as the insurance agent, you get a replacement of your belongings in form of a cash value policy. This means you will be paid the amount it cost you to purchase new items.
  • Liability coverage – this covers legal fees or medical bills of a bodily injured person for which you are responsible for.
  • Loss of use – this covers living expenses that is above your normal living expenses which warrant you to move out of your home.
  • Medical payment – this covers the medical cost for someone who got injured in your home.

A standard renters policy at Geico may offer the following coverage:

Type of Coverage                                                                                Amount Range

Personal Property $10,000 – $95000  
Personal Liability   $50,000 – $300,000  
Loss of Use        $2000 (or 20% of Personal property)  
Medical Payment     $1,000

Please note that the above chart varies depending on the states.

How much does Geico renters insurance cost?

Customers gets renters insurance policy at Geico for as low as $12 per month. The price of the renters policy is determined by the amount of coverage and deductible you choose to buy. This is because coverage limits vary and your deductible is the amount you are agreeing to pay before benefits apply. A higher deductible reduces your insurance cost, while a lower deductible increases it. the price of the insurance policy is reserved for those who have a high credit score and live in a new apartment that has experienced any repair.

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Other Things that Geico Renters Insurance covers

All other things under the property coverage policy that renters insurance covers include the following.
  • Clothing
  • Television set or entertainment gadgets
  • A computer
  • Sporting equipment
  • Musical equipment
  • Jewelry

Other Types of Insurance that Geico offers

Geico offers other types of insurance that are underwritten by third-party partners.
  • Condo/co-op insurance
  • Rideshare insurance
  • ATV insurance
  • Motorcycle insurance
  • Collector auto insurance
  • Flood insurance
  • Boat insurance
  • Travel insurance
  • Business insurance
  • Recreational vehicle insurance

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