Insurance World Championships
which company will get you renters coverage the fastest
How fast can you get Renters Insurance? Today, we did an experiment on ten of the top insurance companies to find out the answer. We timed each company on how long it took to get insurance for the same luxury apartment. Let’s see how they performed.
And… they’re off!
Among the ten companies, we can purchase instantly from seven of them, while a phone call is necessary for three companies. Liberty Mutual is the only one that requires an SSN to get a quote.
The chart below shows a summary of the time spent on each company’s site until the final checkout step. We used average phone call length of 3 minutes for those companies that required a call.
Assurant, Jetty, and Lemonade have done a fantastic job of condensing the number of questions. With Jetty and Lemonade, we can almost finish the entire flow in about one minute.
How is the coverage and cost? 💰
After we changed the coverages to the same level across the companies, Lemonade provided the best rate, followed by Jetty and Farmers. A detailed comparison is here.
The number of questions…
Time may vary a lot if we carefully review all the questions. The chart below shows how many additional questions other than the customer’s basic information are asked before checkout. Although Geico asks the most questions, they do a great job of pre-filling the answers.
People on a tight schedule want to feel safe and get covered fast. While all companies we tested provided great coverage, some were faster than others. For a renter on the go, prospects are looking up as new companies like Lemonade, Jetty, and Assurant innovate the shopping experience, and others follow suit.