Homesite Renters Insurance Review: Pros & Cons, Pricing, and Features

Studenomics Score:  4 Out of 5 Stars

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Who is Homesite Renters Insurance?

Before we dig any further, let’s take a look at this company so that you know a little more about them before making your decision on renters insurance coverage.

Homesite Group Incorporated has been offering insurance products (home, renters, condo, small business, auto, and term life) since 1997.

The company was acquired by American Family Insurance in late-2013 and the deal was made official in this press release in 2014. The press release noted that:

"Adding Homesite to the American Family group of companies also spreads American Family's homeowners insurance catastrophe risk beyond its primary Midwest concentration, an important element of preserving financial strength. Homesite serves customers in 46 states and the District of Columbia."

How Does Homesite Renters Insurance Work?

Is Homesite Renters Insurance Good? 

Is Homesite Renters Insurance legit?

 We took the time to go over the pricing, customer service, policy options, and the financial strength of the company.

In our experience, these factors will reveal everything that you could want to know about a renter’s insurance company.

We're going to look at the renters insurance coverage, the price, and a few other factors. 

We wanted to look at the actual cost of Homesite Renters Insurance so that you know what to expect.

According to the official website:

“So while $187 a year provides a ballpark figure, a renters insurance policy could cost you more or less. Either way, you may be surprised to learn that it doesn’t cost as much as you think.”

We dug around to find some actual renters insurance quotes to give you an accurate picture of what you should expect to spend.

How Much Is Homesite Renters Insurance?

We found two quotes ranging from $13.50/month to $25.40/month.

The section below will break down the location of the units and what you get with your renter's insurance policy in every case.

Homesite Renters Insurance Quotes.

What are you asked for when applying for a Homesite renters insurance quote?

• Your basic personal information.
• If you live with anyone else.
• If you have any dogs.
• The amount of separate units in the building.
• If anyone works from home full-time.

It should be noted that you'll be asked about the security features of your building and the amount of units. This will help determine how safe your building is.

We went through this process and obtained Homesite Renters Insurance quotes for San Francisco and New York City.

Here’s what you get in San Francisco for Homesite Renters Insurance.

Here's what you with Homesite Renters Insurance quote in New York City. As you'll see, the rates are much higher as the price of your policy will depend on where you live and what kind of unit you live in.

Is Homesite Renters Insurance Worth The Cost?

When we look at a renter's insurance policy, we look at the price compared to what you get for coverage.

We found that you could customize your renter's insurance policy and find low rates depending on your state.

We like that you have many payment options. You can pay monthly quarterly or anyway you would like to so that it's convenient for you.

We believe that Homesite Renters Insurance is worth the cost if you find a decent policy for your situation.

Can I Bundle My Homesite Renters Insurance With My Auto Insurance?

The good news is that Homesite encourages insurance bundling so you could insurance your car, property, and small business under one policy.

We looked through Glassdoor, BBB, and Reddit to see what real customers and people had to say about Homesite Renters Insurance.

We have discovered that these are the best ways to get a feel for a company without actually becoming a customer. 

We found that Homesite had a BBB rating of A+ but they had 105 complaints in the last 3 years and there was a fairly negative sentiment about the customer service.

We found many negative discussions about Homesite on Reddit and other forums regarding the customer service.

This is why we scored Homesite a 3 for customer service.

Notable Quote From Value Penguin Against Homesite Renters Insurance:

“While Homesite's low rates can help you save on insurance, you might run into poor customer service if you ever need to file a claim."

How Do You File a Homesite Renters Insurance Claim?

This is where your renter’s insurance policy decision comes into play. Let’s say that something happens and you have to file a claim.

Will it be simple? Will it be a stressful process to file a renter's insurance claim? We always look at these questions.

How do you file a claim with Homesite Renters Insurance?

• Call 1-866-621-4823.
• Online -- https://www.homesite.com/OnlineServicing/Welcome.aspx?#Login

As always, please remember to take the proper precautions before filing your claim by following these steps:

1. Contact the police to file a report if anything was stolen or damaged.
2. Contact your landlord to notify them.
3. Find your receipts for the stolen items.
4. Keep any property relevant to the loss or damages.

What Isn’t Covered By My Homesite Renters Insurance Policy?

Now that you know what’s covered with your renters insurance policy, it’s important to note what isn’t covered so that you know what the full situation is.

What’s not with a standard Homesite Renters Insurance?

• Replacement cost coverage for personal property.
• Earthquakes.
• Jewelry and high-end items over a certain limit.
• Identity theft protection.

The good news is that just because something isn’t covered with a standard renters insurance policy, it doesn’t mean that you’re stuck. You can spend some extra money to upgrade your renter’s insurance policy so that you feel more comfortable.

As always, we urge you to go through your renter's insurance policy to see what coverage you need for your situation.

Can I Add My Roommate?

Are you looking to add a roommate to your Homesite Renters Insurance policy? When you go to obtain a quote, you’ll be asked about how many people are residing in the unit. This is your opportunity to include your roommate under your renter’s insurance policy.

We always look over the financial strength of an insurance company because we want you to protected in the worst case scenario (which is why most of us get insurance in the first place).

Homesite scored an A rating (excellent) with A.M. Best and the company is owned by American Family. 

A.M. Best is the world's oldest credit rating agency and we look at the ratings to see where a company stands.

Pros and Cons of Homesite Renters Insurance?

Every renter’s insurance company has its own strengths and weaknesses. This is why it's important to weight both sides out to see if it's worth trusting the company with your money.

What are the pros and cons of Homesite Renters Insurance?

Does Homesite Offer Insurance In My State?

Homesite Renters Insurance is in a unique situation where the company is owned by American Family and they also underwrite policies for Progressive Renters Insurance.

So this means that you can obtain Homesite Renters Insurance in every state.

You can also check the best renters insurance rates by state using the map below.

How can you cancel your Homesite Renters Insurance?

What if life gets in the way or your situation changes and you have to cancel your Homesite Renters Insurance policy?

Here’s how you can cancel according to the official website:

"You may cancel your policy at any time by writing to your company and indicating the date the cancellation is to take effect."

You can also call in to speak with an agent. You don't have to feel like you're stuck.

Final thoughts on Homesite Renters Insurance.

That’s our review of Homesite Renters Insurance. As always, there are many pros and cons to think about.

We were pleasantly surprised with how easy it was to obtain a renters insurance quote and how detailed the website was.

We do wish the prices were a little lower though and that the customer service reviews were better.

Good luck with your hunt for the ideal renter's insurance policy for your situation.