MSI is a company founded in 1984, but over the years, it was acquired by Country Mutual Insurance Company in 2012. It is one of the companies with the preferred renter’s insurance for many people in the country.
Through the company’s online page, you can learn about the various options offered; it is normal that after some time, you may want to change the renter’s insurance you have.
MSI Renters Insurance Coverage
So far, you can opt for two different renter’s insurance policies. The first is the basic coverage that takes care of specific events that will keep your belongings protected.
These events can be lightning, fire, theft, vandalism, hail, frozen pipes, or damaged refrigerated products. On the other hand, there is the first coverage for all the events mentioned above.
In addition, it includes other events such as damage to appliances due to power surges, broken antiques, or damage from spilled paint. When you purchase any of the above coverages, you can choose between actual cash value claims settlement or replacement cost claims settlement.
Actual cash value claims mean you will receive coverage up to the value of your belongings minus depreciation. Conversely, replacement cost claims settlement means you will be covered up to the cost to repair or replace the damage at actual cost.
All policies include liability coverage to benefit you if you are injured on the property or the insured causes damage to other property. You can enjoy a limit of up to $1 million and can add special endorsements.
Another option is the purchase of up to $25,000 in medical coverage for persons injured on the property. Also included in the coverages are:
- Jewelry, watches, and furs
- Silverware, gold items, and pewter items
- Money and other currency
- Firearms
- Watercraft
- recreational motor vehicles
Other options are identity theft coverage, flood insurance, earthquake coverage, and sewer coverage.
Cost of renters insurance
Country Financial’s average renter’s insurance rates are $154 annually, which indicates that monthly would be $13. Some users say the rates may be lower than the national or state average.
In addition, the company often offers some discounts, such as multi-policy discounts, no-claims discounts, loyalty discounts, welcome discounts, and good payer discounts.
Rating the company based on its renter’s insurance
Recalling that MSI no longer operates under that name, Country Financial is the one who absorbed its services and added others. The rating is A+ out of BBB, although the customer review rating is only 1.56 out of 5 stars.
The financial strength rating is A+ from AM Best, indicating that it has a good ability to meet financial obligations, such as paying claims. Its NAIC complaint ratio is 0.37, and the national average is 1.00.
How to contact the company?
To obtain information about the services, you can call 866 – 268 – 6879, access Country Financial’s online page, and contact one of its agents through customer service.
If you prefer to request information through the mail, you must send the request to Country Financial, PO Box 2020, Bloomington, IL 61702. However, for payments, the address is PO Box 2100, Bloomington, IL 61702.
How good is renters coverage?
As mentioned earlier, you should now purchase your renter’s insurance through Country Preferred Insurance Company, the company resulting from the merger between MSI Preferred Insurance Company and Country Mutual Insurance Company.
In terms of cost-effectiveness, it is a fairly comprehensive option after learning about your options. You have different policies to choose from and even extra services to add. Plus, the prices of their products are affordable. So far, their customers seem happy with their insurance, which indicates that it is a good alternative.