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Question

Are some insurance providers better suited to my needs than others to get the best rate?

I am 25 years old and currently drive a 2015 BMW 328i xDrive. It’s leased and i’m about to lease a new car. I have nothing on my record and no claims. I currently have a policy with Travelers and want to be sure i’m In the best plan i can be, for both coverage and cost. Would Travelers, Farmers, State Farm, Geico, American Family, etc be best for me? I live in an apartment and would also be open to switching gym renters/personal liability insurance assuming that would help get the best rates. I have friends at most of the major insurance companies and want to be sure i’m talking to the right companies. Thank you!

Agent Answer

Ava Lynch

Because most coverage options can be matched across insurance companies, I think what you are really looking for is the best customer service/claims support for the best cost. Right off the bat, I know Geico probably wouldn’t be an option for you with a leased vehicle. Most leased vehicles will require you carry Gap Coverage/Insurance – which Geico currently doesn’t provide. Travelers, State Farm, American Family, and Farmers have Gap Insurance (might be called something else, as verbiage changes between insurance companies).

Moreover, State Farm, American Family, and Travelers all provide renters insurance as well and this would help lower your premium as it would give you a multi-policy discount. So, really the best way to see which companies are the cheapest options for you is to look at quotes for renters and car with your leased vehicles as well as customer satisfaction surveys. If you’re worried about customer support, consider an insurance company that provides local agents – Farmers, State Farm, and American Family all have local agencies in Glendale, CO. If you’re more worried about paying too much, consider the premium.

I hope this answers your question.

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