AAA Renters Insurance Review

It’s essential to consider an insurance company’s customer service ratings before purchasing a policy. When you file a claim, you want to work with helpful agents and with fair and straightforward processes.

The National Association of Insurance Commissioners (NAIC) tracks customer complaints against insurance companies and ranks insurers accordingly. AAA scores below the national average, which means the company receives very few customer complaints. AAA also has an excellent AM Best rating for financial stability, which indicates it’s less likely to default on your claims.

It's important to consider a company’s financial stability when shopping for a renters insurance policy because a financially stable company is more likely to pay your claims on time. AM Best, an organization that assigns ratings to insurers based on their creditworthiness, gives AAA an A- rating, which means the company is in an excellent position to meet its ongoing insurance obligations.

Since every insurer has a different application process for renters insurance, buying a policy can be confusing. For your convenience, MoneyGeek highlights what to expect from AAA, from application to cancellation, in the table below.

While the average renters insurance costs $159 per year, your actual cost may differ depending on the value of the personal property you want covered. It’s best to contact an agent to get an accurate idea of what your renters insurance will cost.

The higher your coverage limit, the higher your renters insurance price. Yet you don’t want to pay less for insurance but end up with a policy that doesn’t cover the actual value of your property. MoneyGeek’s calculator can help you determine how much coverage you really need.

AAA offers five types of discounts, which is average for the industry. Its senior and loyalty discounts are money-saving options not commonly provided by other insurance companies.

The coverages you add to your policy also affect your renters insurance cost. MoneyGeek's research shows that AAA offers customers only one optional coverage instead of the industry average of seven. AAA's add-on, called scheduled personal property coverage, is also commonly available from other insurers.

Policyholders have one optional add-on coverage choice with AAA’s renters insurance, as MoneyGeek outlines below.

When shopping for a renters insurance policy, make sure it comes with standard coverages like personal property, personal liability, medical payments and additional living expenses coverage. If you need flood, earthquake or insect coverage, check the fine print to ensure it’s included.

AAA offers various online tools and features for the convenience of its policyholders, including an online quotation tool and a mobile app. The company also provides flexible payment options and online bill payment.

In addition to renters insurance, AAA offers life, business and travel insurance products.

MoneyGeek analyzed AAA’s website, manually collected quotes and consulted consumer intelligence organizations, such as J.D. Power, the NAIC and AM Best to evaluate AAA’s quality as a renters insurance company.