Plymouth Rock Assurance Renters Insurance Review
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What if a fire breaks out in your apartment unit and destroys your clothing, furniture, and electronics? A renters' insurance policy will pay out to help you replace your damaged or destroyed items.
What if someone visiting your apartment trips over your rug and breaks a leg? If that person sues you, your renters' insurance policy will help cover your legal fees. Your policy will also cover your guest’s medical expenses.
A renters' insurance policy will even help cover your hotel stay and meals if you need to temporarily live elsewhere if a fire or water damage from a burst pipe forces you to seek temporary living arrangements.
Investing in a renters' insurance policy is a smart move, especially considering that the average cost of a renters' insurance policy, according to the Insurance Information Institute, was just $173 in 2020, or just more than $14 a month. But which renters' insurance policy is right for you?
If you live in the Northeast portion of the country, you might consider a renters' insurance policy from Woodbridge, New Jersey-based Plymouth Rock Assurance, which has been providing insurance products since 1982.
In this article
What is Plymouth Rock Assurance renters’ insurance?
Not to be confused with Plymouth Rock, headquartered in Boston, Plymouth Rock Assurance offers renters' insurance through a variety of coverages, along with home insurance and auto insurance. The two companies, while connected, are brand names and service marks used by separate underwriting, managed insurance, and management companies that offer property and casualty insurance in multiple states pursuant to licensing agreements. Each underwriting and managed insurance company is a separate legal entity that is financially responsible only for its own insurance products.
Plymouth Rock Assurance will charge you a monthly insurance premium for your policy, depending on your location, how much coverage you want, and whether you own any high-priced items.
The renters' insurance policies provided by Plymouth Rock Assurance will cover the replacement costs incurred if your personal items are damaged or destroyed by wind, fire, vandalism, theft, flooding from burst pipes, and other events. The covered item doesn’t even have to be in your apartment for your policy to pay out. On its website, Plymouth Rock Assurance gives this example: If someone steals your laptop from your apartment or car, your renters’ insurance policy will pay you to replace it.
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Thanks to your policy’s personal liability coverage, your renters' insurance will pay out if someone files a claim or lawsuit against you. Your policy’s personal liability coverage will also cover medical expenses if a guest is accidentally injured in your apartment unit. An example of this? Plymouth Rock Assurance will pay for medical expenses if a guest trips and breaks a leg in your apartment.
Policies also cover emergency living expenses if you're forced to move from your apartment temporarily because of a covered event, such as a fire that makes your unit uninhabitable. Plymouth Rock Assurance says its renters' insurance policies will help cover costs such as hotel stays and meals while you are living in temporary quarters.
The downside of Plymouth Rock Assurance is that it only offers renters insurance policies in the country's northeast region. You can only apply for a policy if you live in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, or Pennsylvania.
Plymouth Rock Assurance is also not accredited by the Better Business Bureau (BBB). As a whole, Plymouth Rock is ranked 123 on the National Association of Insurance Commissioners (NAIC). However, AM Best gives the company an A- for its financial strength rating. For those wanting to add-on car insurance, Plymouth Rock Auto Insurance has low customer satisfaction ratings and customer reviews, with an 808 out of 1000 J.D. Power rating.
How does Plymouth Rock Assurance renters’ insurance work?
Signing up for a Plymouth Rock Assurance renters' insurance policy is simple. It's easiest to do this online by creating an account on the company’s website or downloading the Plymouth Rock Assurance mobile app from the Google Play or App Store.
Before signing up for a policy, you’ll want an insurance quote to get insurance rate policy options. To do this, start by going to the company's renters' insurance page here. Then select your state from the dropdown menu at the top left-hand side of the page.
Once you do that, click on the "Online Get free quote" icon on the page. Then, select the type of insurance for which you want a quote. In this case, it would be renters' insurance. You'll then select the coverage options you want, choose any possible discounts for which you might qualify, and fill in your payment details. Once you do this, you'll be emailed a renters' insurance policy. Plymouth Rock says it can provide an online quote in just five seconds.
You can also call 844-239-1591 to speak with a representative.
When choosing your renters’ insurance policy, you must determine how much coverage you need. To do this, estimate how much it would cost to replace your furniture, electronics, clothing, jewelry, art, and other possessions. You might determine that replacing your damaged possessions would cost $20,000. You'd need a policy that provides at least that much coverage for personal property.
You'll also want to determine how much coverage you want for personal liability. Standard policies often come with $100,000 for this type of coverage. You might consider upping this event if you often entertain guests at your unit.
Remember, the higher your personal property and liability coverage amounts, the more you'll pay monthly for your policy. But don't select a coverage amount that won't provide enough financial help to cover the costs of your damaged items. Yes, you might pay less each month by choosing lower coverage limits. But if your items are damaged in a fire, you might not receive enough money from your policy to cover their replacement costs.
You'll also need to determine your deductible, the amount you'll pay out of pocket, before your insurance payments kick in. Say you choose a deductible of $1,000. If you suffer $10,000 of damage from a fire, you'll pay $1,000 from your own funds before your insurance policy kicks in the remaining $9,000.
The lower your deductible, the more expensive your policy will be. But be careful when choosing a higher deductible. Remember, you'll have to pay that amount before your insurance coverage pays out. A higher deductible could put a strain on your finances.
You have several options if you want to file an insurance claim. You can report a claim online on this page to begin the claims process. You can use the same page to track the status of your claim. You can also call Plymouth Rock Assurance's claims department at 844-346-1225. If you have an insurance agent with the company, you can contact that person. The agent will then report the claim for you.
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After you file your claim, Plymouth Rock will assign a claims representative to your case. This representative will contact you to gather more information about your claim, specifically how much damage you suffered or what type of personal liability protection you need. For a personal property claim, you'll typically have to take photos of your damaged items and send them to Plymouth Rock Assurance. Your representative might schedule an appointment to inspect your damages in person.
Once your claim has been analyzed, Plymouth Rock will send you the funds to replace your damaged items. The company will send funds to cover any legal or medical costs if someone is injured in your apartment.
If your claim is covered, you'll typically receive electronic payments through direct deposit or Zelle within 24 hours, according to Plymouth Rock. If you request a paper check, you'll typically receive your funds within five to seven business days.
How much does Plymouth Rock Assurance renters’ insurance cost?
How much you pay for a renters’ insurance policy from Plymouth Rock Assurance will vary depending on the state where you live, your coverage amounts, and the size of your deductible.
You might also pay more if you request additional coverage. If you have fine art or jewelry and request extra insurance to cover these high-value items, you’ll pay more for your renters’ insurance policy.
You'll pay more for extra coverage, too. Maybe you sign up for replacement cost coverage for your personal items. With this type of coverage, if an item is damaged, Plymouth Rock will pay to replace it with a new, similar item. Property damage coverage costs more each month. Actual cash value coverage, which costs less, pays out according to the item's worth when it is damaged or destroyed.
Here's an example, though, of what a typical renters' insurance policy from Plymouth Rock Assurance might cost. A renter living in East Orange, New Jersey, with a deductible of $1,000, would pay $10 a month for $20,000 of personal property coverage, $100,000 of liability coverage, and $1,000 of medical payments coverage.
That same renter paying a deductible of $1,000 would pay $25 a month for $40,000 of personal property coverage, $100,000 of liability coverage, and $1,000 of medical payments coverage.
You might be able to lower the monthly cost of your renters’ insurance policy by taking advantage of discounts. You might receive a discount if you take out an auto or life insurance policy from Plymouth Rock. You might receive a discount if you have safety features such as burglar or fire alarms in your apartment unit.
Plymouth Rock Assurance renters’ insurance features
What features can you expect from a Plymouth Rock renters’ insurance policy?
You can work with a dedicated agent. While Plymouth Rock Assurance has an app and website, it is not an online-only brokerage. You can speak to insurance agents by phone and meet with them in person.
You can manage your policy online. Plymouth Rock also offers its Manage Your Policy online account. It lets you view policy documents, request an ID card, view proof of insurance, report and track claims, make a payment, and enroll in Electronic Funds Transfer.
You can tweak your coverage. Plymouth Rock allows you to boost your renter’s policy with additional coverage. This includes home cyber protection, which covers the direct financial loss incurred by online fraud; home systems breakdown coverage, which protects you against the mechanical breakdown of systems such as furnaces, air-conditioning units, and stoves; and replacement cost on contents, which provides payouts equal to the price needed to replace your damaged property in today's market.
Savings if you bundle. You can reduce the cost of your renters’ insurance if you take out another policy with Plymouth Rock. Plymouth Rock is a full-service insurance company that provides auto, term life, and pet insurance products.
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Who is Plymouth Rock Assurance renters’ insurance best for?
A Plymouth Rock renters’ insurance policy is a good choice for many customers:
Those looking for various service levels. Because it offers a website and app, you can sign up for a renters’ policy, file a claim, and track claims completely online if you’d like. But if you prefer to speak with a live person, Plymouth Rock also employs insurance professionals you can reach by phone. You can also meet with your own insurance agent in person.
Those looking for solid coverage at a low price. Though costs will vary, taking out a Plymouth Rock renters’ insurance policy at as little as $10 a month is possible. You’ll spend more if you want more coverage or if you add additional protection. But if getting coverage for a low cost is a priority, you won’t have to spend much for solid protection.
Those with pets, cars, or people who depend on them. Plymouth Rock offers a wide range of insurance products in addition to renters’ insurance, including auto, pet, and term life insurance. This is good news if you drive a car, share a home with a furry friend, or want to provide financial protection for your loved ones: Plymouth Rock will grant you discounts if you bundle your renters’ insurance policy with its other coverages.
Those who often have guests in their apartments. If you frequently invite guests to your place for parties or even intimate dinners, the personal liability protection offered by Plymouth Rock could save you plenty of financial pain. If one of these guests suffers an injury while at your apartment, your renters’ insurance policy will help cover any medical or legal expenses that result from the accident.
Who shouldn’t use Plymouth Rock Assurance renters’ insurance?
Even though Plymouth Rock’s renters’ insurance protection is solid and a good value, that doesn’t mean it is right for everyone. Some renters should seek protection from a different company.
Those who don’t live in the Northeast portion of the country. Unlike national insurance providers, Plymouth Rock Assurance only offers renters or any insurance in the Northeast. You must live in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, or Pennsylvania to apply for a Plymouth Rock renters’ insurance policy.
You want to cover your roommate. Your Plymouth Rock policy won’t provide any coverage for your roommates. As Plymouth Rock says, if your roommates want protection for their belongings, your roommates will need their policies.
Pros and cons
Pros
- Wide variety of coverage options. When choosing a renters’ insurance policy, you can tweak the amount of coverage and the deductible you want to pay. You can also add optional coverage for more expensive items or invest in additional coverage, such as cyber home protection.
- Low-cost coverage is available. If you are willing to pay a higher deductible and lower coverage, you can reduce your monthly premium to about $10.
- In-person help is available. You can meet with in-person agents throughout Plymouth Rock Assurance’s coverage area. You can also speak with agents by phone.
Cons
- Limited availability. The biggest drawback with Plymouth Rock’s renters’ insurance? You might not be able to apply for a policy. This insurer only does business in six states in the Northeast of the United States.
- The website is a bit clunky. While you can request a quote and report a claim online, Plymouth Rock Assurance’s website is clunky.
Plymouth Rock Assurance vs. competitors
Company | Coverage | Price | Discounts |
Plymouth Rock Assurance | Basic renters’ insurance includes personal property, liability, and temporary living coverage. You can add extra protections, such as cyber home protection. | Varies according to coverage, deductible, and where you live, but you can expect to pay $10 a month for basic coverage and $20 a month for more extensive coverage. | You can save money by purchasing an additional policy from Plymouth Rock, such as life insurance or auto insurance. You can also receive discounts for safety features in your apartment. |
Policies include personal property, liability, and temporary living expenses. You can also add extra coverage for more expensive items. | Lemonade renters’ insurance policies average $14 a month. | You’ll earn a discount if you bundle your policy with pet, life, or auto insurance. | |
Allstate is a large national brand that offers personal property, liability, and temporary living expense coverage with its renters’ insurance policies. | Allstate customers pay an average of $16 monthly for renters’ insurance. | You’ll qualify for a discount by bundling your renters’ insurance with one of Allstate’s other products. You might also earn discounts for having smoke detectors or burglar alarms in your apartment. |
Lemonade
New York City-based Lemonade is known for its affordable insurance policies and online-only service model. The average price of a Lemonade renters' insurance policy across the United States is about $14 a month as of August 1, 2023, according to Lemonade.
Lemonade also advertises that it approves customers for renters’ insurance policies quickly. Lemonade says that its policies become active as soon as 12:01 a.m. on the day its customers activate them.
Like other renters’ insurance providers, Lemonade’s policies include personal property protection, liability coverage, and payouts if you need temporary living arrangements. You can adjust your coverage levels and deductibles and add extra coverage for more expensive items. You can save money by bundling your renters’ insurance policy with Lemonade’s auto, pet, or life insurance.
A possible downside? Lemonade does not offer live agents. This is an online-only company where you must sign up for your policy and file your claims through the company’s website or app.
Allstate
Allstate remains one of the bigger names in the insurance industry. That doesn’t mean that you’ll pay a lot for an Allstate renters’ insurance policy. According to the company, policyholders pay an average of about $16 monthly for renters’ insurance. You could pay even less, though. Allstate says on its website that if you also insure your car with the company, you might be able to pay as little as $4 a month for renters’ insurance.
The company’s renters' insurance policies include the level of protection that you would expect from a national name: personal property coverage, coverage for theft or vandalism, and personal liability protection. It also covers your expenses if you live somewhere else temporarily because of significant damage to your apartment.
Because Allstate is such a large company, it has offices across the United States. You can file claims and sign up for a policy online, but you can also meet with insurance agents or speak with them over the phone.
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FAQs
What is the difference between actual cash value and replacement value?
You can choose from two types of personal property coverage on your renters' insurance policy: actual cash value or replacement cost value. Replacement cost value coverage costs more because this protection provides a payout that lets you replace a damaged item with a new, similar item. Actual cash value coverage only pays you what the damaged item is worth at the time of the loss. Plymouth Rock provides this example: If you had a bicycle that was three years old at the time it was damaged and you paid $400 for it, an actual-cash value policy might reward you $292 to replace that item. A replacement cost policy might provide you with $437, equal to its current value.
What information do I need when reporting a claim to Plymouth Rock?
You'll need to provide your name and address, the names and addresses of any witnesses or injured parties, general loss information, and your Plymouth Rock renters' insurance policy number. Plymouth Rock says you should not wait to report your claim until you have all this information. You can update your claim later once you gather the rest of your information.
Can I add extra protection to my renters’ insurance policy?
Yes. You can add such protections as home cyber protection or systems breakdown coverage.
The bottom line
If you live in the Northeast and don’t have renters’ insurance? A policy from Plymouth Rock Assurance could be good insurance. You’ll be free to adjust your coverage limits, deductibles, and optional coverages to land a monthly premium you can afford. And if you need to talk with a real person or meet with an insurance agent? Plymouth Rock offers that opportunity.
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Writer
Dan Rafter is a freelance writer who has more than 20 years experience covering personal finance. He's written for the Chicago Tribune, Washington Post, Bankrate, CreditCards.com, Rocket Mortgage, NortonLifeLock and several others.
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