Is Toggle Renters Insurance Legit?

Renters insurance provides financial protection for individuals leasing a residence, covering personal belongings and offering liability coverage. The emergence of online-first providers like Toggle Renters Insurance often raises questions about their reliability. Understanding their operational framework and service offerings helps consumers make informed decisions. This article explores Toggle’s renters insurance, addressing common inquiries about its operations and value proposition.

Toggle’s Background and Affiliation

Toggle Renters Insurance began operations in 2018 with a digitally focused approach. It is backed by Farmers Insurance, an insurer established in 1928, providing Toggle with experience and financial stability. Policies are underwritten by Farmers and its subsidiary entities, such as 21st Century Assurance Company. This structure means Toggle’s online experience is supported by a larger, reputable insurance group. Farmers Insurance Group holds an A rating from A.M. Best, reflecting its strong financial capacity to meet policyholder obligations.

Coverage Options Available Through Toggle

Toggle Renters Insurance offers various coverage types to protect renters’ assets. Standard offerings include personal property coverage, protecting belongings against perils like theft or fire, and personal liability coverage, which helps if someone is injured in your rental unit and you are found responsible. Policies also include coverage for additional living expenses, known as temporary living costs, assisting with accommodation if your rental becomes uninhabitable due to a covered loss.

Personal property coverage begins with a blanket amount, such as $1,000, but allows for customization. Policyholders can specify limits for categories like technology, furniture, fashion, and jewelry, ensuring items are protected according to their value. Policyholders can also choose between replacement cost coverage, which pays to replace items with new ones, or actual cash value, which accounts for depreciation. Liability coverage starts at $100,000 and can be increased to $300,000, providing broader financial protection.

Toggle also provides several unique and customizable add-on coverages, including:
Protection for flood and earthquake damage.
Personal injury liability for issues like slander or libel.
Coverage for bedbug remediation.
Protection against water backups.
The “Pet Parent” add-on, offering liability coverage for pet-related incidents, pet boarding costs, and damage caused by pets to the rental property.
“Side Hustle” coverage, which protects equipment and can provide for lost income up to $2,000 per month and legal fees up to $10,000, for those earning less than $25,000 annually from such activities.
“Credit Lift,” which reports on-time rent payments to credit bureaus to potentially aid credit building.
“Always On Portability,” ensuring belongings are covered even when traveling.

Policyholders can select from three subscription tiers—Basic, Standard, and Premium—to tailor their coverage and manage deductibles, which can range from $100 to $1,000. A unique disappearing deductible feature reduces the deductible amount for each claim-free year.

The Toggle Policy Management and Claims Process

Toggle emphasizes a streamlined digital experience for policyholders, from obtaining a quote to managing a policy and filing claims. Customers can receive a quote and purchase a policy directly through the Toggle website. While the website is mobile-friendly, it does not offer a dedicated mobile application for policy management.

Policyholders can access online accounts to view documents, update information, or adjust billing. The platform allows flexible adjustments to coverage levels. When a covered event occurs, the claims process is also handled online. Policyholders initiate a claim by logging into their account and submitting a form.

Upon filing, a claims adjuster reviews the incident. Policyholders should provide details such as their policy number, the date, time, and location of the incident, and a description of the damage or loss with an estimated dollar amount. Supporting documentation, including police reports, receipts, photos, videos, and an inventory of damaged items, can also be requested. Toggle’s customer service can be reached via chat, email, or phone for assistance. The timeframe for resolution can vary depending on claim complexity.

Considerations for Renters Insurance Decisions

When considering Toggle Renters Insurance, several factors warrant evaluation. The company’s customer service model relies on digital channels, including online chat, email, and phone support. While some users report positive experiences, others note challenges with the claims process. Consumer reviews show mixed sentiment regarding overall satisfaction.

Toggle’s digital platforms are user-friendly for obtaining quotes and managing policies. Policy terms are concise and easy to comprehend, offering transparency. Premiums range from approximately $5 to $30 per month, with an average around $13 monthly. While competitive for basic coverage, the cost may be higher than some competitors if extensive personal property coverage is needed. Discounts may be available for bundling policies, maintaining good credit, remaining claims-free, or opting for paperless billing.

Toggle’s renters insurance is available in a significant number of states, covering 33 states and Washington D.C. Its high degree of customization allows policyholders to tailor coverage to their belongings and lifestyle. The maximum liability coverage offered, typically $300,000, might be a consideration for individuals with substantial assets who may require higher limits. Evaluating these aspects against personal circumstances and coverage requirements can help in making an informed choice.