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Branch renters insurance review Oct 2020

Last updated:  

Bundle renters with your auto insurance to save money on both.

  • Get a quote if you live in the service area and are interested in bundling your policy.
  • Pick something else if you’re looking for a standalone renters policy.
  • Only renters who are interested in getting an auto policy with Branch or already have one should apply.

AZ, IL, MO, OH, TX

Available states

24/7 claims

Online quotes

Details

Pros

  • Can contribute to a fund that helps your uninsured neighbors
  • Branch has solid financial backing
  • Bundling is quick and easy and comes with a hefty discount

Cons

  • Only available in a few states
  • Doesn’t offer a standalone renters policy
New home discount discount No
New homeowner discount No
Home safety features discount No
New policy discount No
Bundling discount No
No claims discount No
Other discounts No
Personal property coverage Yes
Valuable personal property No
Theft coverage No
Fire coverage No
Flood coverage No
Identity theft coverage No
Homesharing No
Dwelling coverage No

Expert review

Heather Petty

Review by


Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.

Expert review

Branch renters insurance is worth checking out if you’re interested in Branch’s community-focused approach and are already planning to purchase an auto policy. But if you’re looking for a standalone renters policy, compare other renters insurance companies to find the perfect fit for you.

What insurance coverage does Branch offer?

Branch’s renter’s policy includes the most standard coverage:

  • Personal property. Coverage for the repair or replacement of your personal property in cases of damage or theft.
  • Liability. Provides coverage for expenses related to the injury of a third party or damage to their belongings on your property when you are at fault.

What discounts can I get with Branch?

Branch’s community focus allows it to offer several discounts for customers:

  • Customer referrals. Instead of giant advertising campaigns, Branch relies on customer word of mouth to bring in new customers, and they reward you for it. In Arizona and Missouri, for every friend you invite who signs up for Branch insurance, you get a 1% discount. So, if you invite ten friends, you get 10% off your bill.
  • Vouch for each other. To reduce the amount of money spent on insurance fraud, Branch asks customers within a community to vouch for each other, and gives a 1% discount per person who vouches for you. Get up to 5% off your premium if you can get five Branch customers to say that you won’t commit insurance fraud.

Pros and cons of Branch renters insurance

Pros

  • Help for the uninsured. A portion of every customer’s premium goes to the Safety Nest program, which allows those who have experienced a tragedy or accident while uninsured or underinsured to apply for financial help.
  • Financially stable. Branch is underwritten by General Security National Insurance Company (GSNIC), which has an A+ rating from AM Best — signs of a strong financial standing.
  • Makes bundling easy. Branch designed its policies for bundling, especially its renters policy, which isn’t available any other way.

Cons

  • Limited service areas. Branch insurance is only available in Arizona, Illinois, Missouri, Ohio and Texas.
  • Only available in a bundle. No standalone renters policy is currently offered through Branch. Your renters policy is only available as an add-on to an auto policy.
  • Not an insurance company. Branch is technically an insurance agency, selling insurance for GSNIC and backed by SCOR reinsurance. While that gives Branch a large financial banking, reinsurance sometimes leads to more expensive policies.

How to apply for Branch renters insurance

While Branch has an easy quote tool on the website for homeowners and auto insurance, the company doesn’t provide an option to get a quote or apply for renters insurance online. To inquire about a renters policy, call Branch customer support at 833-427-2624.

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