ResidentShield Renters Insurance Review 2024: Pros and Cons

ResidentShield isn’t an insurance company. It’s an agency that works with third-party insurers to find you a renters policy, with availability in most U.S. states.

ResidentShield partners with certain apartment communities across the country. If you live in one of those communities, the company will make your life a little easier by prefilling certain parts of your application. But you don’t need to live in a partner complex to get ResidentShield renters insurance.

Policies from ResidentShield stand out in a couple of ways. First, the application process doesn’t involve a credit check. That’s useful for renters with poor credit, who generally pay higher renters insurance rates in most states.

Second, ResidentShield promises that your premium won’t go up if you file a claim. That’s a rare perk in the renters insurance industry.

But pet owners will want to take a close look at ResidentShield’s animal liability coverage, which may fall short of what you’d find elsewhere.

ResidentShield sells renters insurance in Washington, D.C., and every state except for Alaska and Hawaii.

One nice feature of a ResidentShield policy is that it covers your personal belongings on a replacement cost basis. With this type of coverage, the company will pay you enough after a claim to buy new replacements for damaged or stolen items.

Some renters policies pay only the actual cash value of lost items, which reflects depreciation. Because things like furniture and electronics tend to lose value over time, having actual cash value coverage means your claim payout could come up well short of what you need to buy new items.

Depending on where you live, you may be able to add some or all of the following to your policy:

• Water and sewer coverage, which pays for damage to your belongings if a water line or sump pump backs up into your home.

• Pet damage coverage, which pays to repair things like carpet stains or scratch marks from your furry buddy.

• Extra animal liability coverage for medical and/or legal expenses if your pet injures someone or damages their property. (The personal liability coverage included with your policy may be limited for scenarios involving animals.) Learn more about dog liability insurance.

• Equipment protection coverage, which pays for physical damage to laptops, phones and other electronic gadgets. 

• Tenant damage coverage, which pays for property damage you cause to your rented house or unit.

• Earthquake coverage to repair or replace your belongings after an earthquake (available in California only).

ResidentShield offers a discount of up to 20% for renters in a senior living community. You may also be able to save money by paying your renters insurance premium in full, rather than in installments.

Website: You can use the ResidentShield website to get a renters insurance quote, file a claim or see basic information about the company’s policies.

Claims: You can file a claim online or call 800-822-2997. According to the company, your premium won’t go up after you file a claim, which is unusual in the insurance industry. Rates typically go up nearly 19% on average after a renters insurance claim, according to NerdWallet’s rate analysis.

Customer service: For support, email [email protected], call 800-566-1186 or use the company’s chat feature, which offers both automated and live assistance. Customer service is available on weekdays from 7:30 a.m. to 7 p.m. CT.

Replacement cost coverage for personal belongings. Many insurance policies charge extra for this type of coverage, while ResidentShield includes it.

No penalties for poor credit or prior claims. Renters with a patchy credit history or a past insurance claim often pay more for their policy. That’s not the case with ResidentShield.

Animal liability coverage. Most renters insurance covers dog bites and other animal liability claims up to your full personal liability limit (often $100,000). But many of the quotes we got from ResidentShield had lower levels of animal liability coverage, such as $10,000, unless we were willing to pay extra. The average cost of a dog bite claim was more than $64,000 in 2022, the most recent data available, according to State Farm and the Insurance Information Institute.

Availability in Alaska and Hawaii. Renters in these states will need to look elsewhere for coverage.

Not ready to make a decision? You may be interested in these other renters insurance companies: