LendingTree’s Renters Insurance Ratings Methodology: How We Evaluate and Score Insurance Companies
Renters insurance helps you put your life back together after a fire, burglary or other disaster in your rented home. It’s available for tenants in apartments, condominium units, houses and most other types of dwellings.
As part of our goal to support you in your financial journey, LendingTree rates insurance companies to help you find the right protections at the most affordable rate. Designed for consistency and fairness, our renters insurance ratings compare your options based on whatever you care about the most, including price, reliability and convenience.
This page will give you a closer look at how our renters insurance ratings work.
Our methodology categories
We measure companies on their performance across six categories that cover the overall insurance experience for most tenant situations.
Basic cost (40%)
A company’s basic cost is its average rate before discounts. Our research team gets quotes directly from insurance companies for a typical rental unit in each state. Quotes are for a single 30-year-old tenant with no pets. Coverage limits include $20,000 for personal property and $100,000 for liability.
Customer service (30%)
Customer service ratings are based on complaint data from the National Association of Insurance Commissioners (NAIC). The NAIC tracks companies on “confirmed complaints,” which are those that lead to a finding of fault. A good complaint rating means a company has fewer complaints than average for its size.
Coverage options (10%)
Standard renters insurance covers most typical risks. However, you may need extra protections for special items like treasured antiques, or for special situations like a home-based business. We review each company’s website and other public materials to check the flexibility they offer to cover all your needs.
Discounts (10%)
The different renters insurance discounts that companies offer help make their rates more affordable. Companies with a greater number and variety of discounts get higher scores in this category.
Online experience (5%)
We evaluate each company’s website and smartphone app for convenience and clarity. Companies that explain their options in simple terms and offer online quotes get higher ratings. We also look at whether you can manage your policy online and how users rate each company’s smartphone app.
Financial strength (5%)
A company’s financial strength rating is a good indicator of how well it’s run and its ability to pay claims. We review ratings from AM Best to assess each company’s financial strength.
Our methodology process
Our team rates companies for performance in each of these categories on a 5-point scale. Each company’s LendingTree score is the weighted average of these ratings, rounded to the nearest half-point. A 5-star LendingTree score is the highest possible rating.
We apply the same scoring model and standards to every insurance company. While LendingTree may receive compensation from some companies when users request a quote from them, this does not affect our editorial ratings or recommendations in any way.
Please see our editorial standards for more information.