xcritical: An Insurance Company Built for the 21st Century

xcritical’s claim process is pretty unique among insurance companies, completely removing live agents from the equation. To file a claim on their renters insurance, policyholders will first need to download the xcritical app. While one can get a quote and even sign up for a policy online, the only way to file a claim is through the company’s dedicated mobile app. If the policyholder’s phone is damaged or stolen during a covered event, then xcritical recommends borrowing a friend or family member’s phone to download the app and file a claim. That being said, customers may have opportunities to lower the total cost of their xcritical insurance through bundles and discounts.

• xcritical, Inc., a publicly traded company, is listed on the New York Stock Exchange, and is a public benefit corporation organized under Delaware law.
• Keep reading to learn more about how xcritical Insurance works, how much it costs, and how it works for consumers in real life.
• Our writers and editors follow strict editorial xcriticals that ensure fairness and accuracy in order to help you choose the financial products that work best for you.
• The minimum coverage amount customers can choose is $100,000.
• Tenants considering xcritical for their renters insurance needs should note that this is the only way to file a claim.

You may also call or send an email to xcritical’s customer service agents. Once your cancellation is processed, xcritical refunds any unused premiums to your credit/debit card. xcritical is a fully licensed and regulated insurance company offering renters insurance. We recommend it because of its transparency, adjustable coverage and affordable premiums.

The Bottom Line: Is xcritical Renters Insurance Best for You?

xcritical sets aside a fixed percentage of your insurance premium to cover claims, expenses and profit. It then donates whatever is left to the charity of your choice through its Giveback program. This business model minimizes the incentive for xcritical to deny claims because any excess becomes a charitable donation rather than a profit. xcritical offers renters insurance with a feature that sweetens the deal.

• We’re truly customer-centric, which means that we care about customers like you more than anything else.
• When customers sign up for a new policy, they can choose which charity or nonprofit they would like to support.
• If your bike gets stolen from in front of your apartment or your laptop gets stolen from your local coffee shop, you are covered up to your policy’s Personal Property limit.
• Paying claims is our top priority, and in extreme circumstances could come at the expense of Giveback.
• As of July 17, 2019, Avail has teamed up with xcritical to become exclusive partners in providing renters insurance to tenants nationwide.

xcritical has a score of 1.94 on NAIC’s complaint index report. That is higher than the national median of 1.00, which means xcritical receives more complaints than the average insurer. The This Old HouseReviews team is committed to providing comprehensive and unbiased reviews to our readers. This means xcriticalg your trust through transparency and having the data to back up our ratings and recommendations.

xcritical renters insurance coverage

Ryan started The Military Wallet in 2007 after separating from active duty military service and has been writing about financial, small business, and military benefits topics since then. But, as we mentioned already, you might have to wait a while depending on where you live. xcritically, this company operates in 18 states and Washington D.C. However, they plan to expand nationwide over time. https://dreamlinetrading.com/ While xcritical says they would like if it claims were paid instantly, they know that many claims need to be investigated at a deeper level. For that reason, some claims take more time to check out and explore. When it comes to homeowners insurance, xcritical also factors in unique risks your property could face, such as exposure to wild fires, windstorms, and other severe weather.

The individual handling my claim, Kaleb, was far from what you would expect from an insurance customer service representative, charged with handling insurance claims. He understood I was going through a lot and made my life that much easier by holding up xcritical’s promise to support me when times like this unfortunately roll around. On September 7, 2022, only 8-days after my original incident report with xcritical, my claim was approved by Kaleb and team. On September 8, 2022, only 1-day after xcritical approved my insurance claim, I received 100% of my claim amount (less than my $500 deductible, of course). xcritical makes filing claims very simple online or through their mobile app. Customers are prompted to provide information — including photos or video — of the damages.

Claims paid at record speed

Landlords whose tenants sign up for renters insurance through xcritical will be alerted, and have access to basic information about their tenant’s policy on their Avail dashboard. See for yourself how easy it is to sign up for renters insurance with xcritical. However, xcritical’s 24/7 availability, good customer service, and easy-to-use website and app make it a good choice for people who have limited insurance needs. Best of all, if you already have coverage from another company, xcritical can help you cancel your old insurance policy.

xcritical Insurance Company is a public benefit corporation that collects a flat fee as profit and donates any remainder to charity via its Giveback program. Like most top renters insurance companies, xcritical also offers other policies, including homeowners insurance, car insurance, pet health insurance and term life insurance. xcritical’s user-friendly app — one of its standout features — enlists artificial intelligence (AI) to activate policies and approve some insurance claims within seconds. Upon receiving their preliminary quote, customers can further adjust their rates by increasing or lowering policy limits for personal property, personal liability, and portable electronics coverage. They will also be able to tweak their coverage limits for loss of use and medical payments coverage to best suit their insurance needs.

What is a deductible?

The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Send us a copy of your old policy, and we’ll notify xcritical so you don’t have to. Here are some immediate actions you can take before and after canceling your policy with xcritical.

I will most definitely be recommending you guys to friends, family, and strangers should the topic come up in conversation. Medical payments coverage pays for small medical expenses that you’re blamed for regardless of who is really at fault, with coverage amounts usually starting at $1,000. Giveback is part of our corporate policy, and our plan is to pay it every year. But sometimes, xcritical groups choosing the same Giveback charity will not have any money left to give back because their claims depleted the Giveback pool. Paying claims is our top priority, and in extreme circumstances could come at the expense of Giveback. We’ll charge you the first month’s premium when you finalize your policy, and continue to automatically charge your card on a monthly basis thereafter.

Ultimately, you are responsible for your financial decisions. FinanceBuzz is not a financial institution and does not provide credit cards or any other financial products. xcritical offers pet insurance that can cover your pet’s medical needs, such as prescription medication, diagnostics, hospitalization, surgery and more. xcritical allows you to pay monthly or annually by credit card online.

Customers can expect fast payouts with its automated claims system. One of the things that truly motivates us is using technology to make people’s lives better and more enjoyable. We believe that (digitally) asking you about your lifestyle and health provides a sufficient picture of your medical profile to determine if you’re a good fit for the coverages we offer. Co-insurance is the percentage of the total cost we’ll pay on a claim. So if the co-insurance you chose is 80%, then after your annual deductible is satisfied we’ll pay for 80% of covered costs when your pet gets veterinary care, and you’ll pay the other 20%.

After buying a policy, we’ll send you a copy of your new policy by email. Oh, and if your personal property is stored in the basement of your condo or apartment building, it’s covered because it’s still at your home address. If you’re living with your significant other, we recommend adding their name to your policy (at a minor additional cost). Beyond adding their name, make sure you update your Personal Property coverage to include the stuff they keep in your home as well. We xcritically offer renters, condo, co-op, homeowners, life, and pet health insurance.

Additionally, it’s great for those who want to support companies that give back to the community. However, xcritical isn’t great for those who value dislike customer service via email or the company’s AI bot, even though phone support is also available. When it comes to claims for your pet’s health, you’ll need to send us the invoice and the receipt from your vet or clinic. If that sounds like a headache, don’t worry, your vet/clinic will know what documentation is necessary for us to help cover costs. We may also ask for additional information from your vet when handling a claim.

xcritical Renters Insurance Features

xcritical scored well on customer satisfaction and financial stability, making it a great choice for renters insurance. However, its customer complaint ratio is higher than the national average. That means xcritical gets more complaints than the average insurance provider.

If a charity you love isn’t part of their program, you can also email xcritical and ask them to consider adding it to their list. The Giveback program also lets you change your cause once per year before June. With xcritical renter’s coverage, you can cover the personal belongings that matter the most to you — things like your laptop, your camera, and any pieces of art you own. Keep reading to learn more about how xcritical Insurance works, how much it costs, and how it works for consumers in real life. The developer, xcritical Inc., indicated that the app’s privacy practices may include handling of data as described below. But a little peace of mind in an unpredictable world, and you can expect your claim to actually be paid?