MSI Renters Insurance Review [2024]

MSI Preferred Insurance Company was founded in 1984, but it was sold to Country Mutual Insurance Company in 2012. After the two companies merged, it became known as Country Preferred Insurance Company. Its products are now sold under the Country Financial group of companies.

Below, we’ve discussed MSI renters insurance and the type of coverage that is now sold by Country Financial. Continue reading to learn more about its coverage, rates, and more.

If you’re looking to replace your MSI renters insurance, enter your ZIP code into our free quote comparison tool above to compare rates from companies near you.

What You Should Know About Country Financial

Because MSI is no longer in business, we will provide you with the ratings for Country Financial and Country Preferred Insurance Company, which is the surviving company of the merger between MSI Preferred Insurance Company and Country Mutual Insurance Company.

Country Financial has an A+ rating from the BBB. However, its customer review rating is only 1.56 out of 5 stars.

Country Preferred Insurance Company has a financial strength rating of A+ from A.M. Best, which means that it has a superior ability to meet its financial obligations, such as paying claims. Its long-term issuer credit rating is A-, which means it also has a superior ability to pay its long-term debt.

Country Preferred Insurance Company has an NAIC complaint index of 0.37. Compared to the national average of 1.00, this means that it receives only 37% of the complaints. This can be expected for a company of its size.

How do I get a quote or file a claim?

To receive Country Financial renters insurance quotes (previously MSI renters insurance quotes), you can fill out the form on the Country Financial website to be contacted by an agent in your area. You can also call (866) 268-6879 to contact the company yourself.

There are multiple ways to file a renters insurance claim with Country Financial. You can use your Country Financial renters insurance login to manage your claims online, or you can call the number above to file over the phone. When you file a claim, you will need to provide your phone number and other contact information, policy number, date and location of the damage, and a description of the damage.

Depending on the type of event that caused damage to your property, a claims representative may schedule a time with you to come view your property. You should take steps to prevent further damage, save receipts from any emergency repairs, take photos of the damage, and make a written inventory that includes your property’s age, model number, date of purchase, and current purchase price.

How do I contact MSI?

There is no longer a MSI renters insurance phone number available. However, you can contact Country Financial at (866) 268-6879. You could also fill out the contact form provided on the Country Financial website.

Mail can be sent to Country Financial, P.O. Box 2020, Bloomington, IL 61702. However, if you’re making a Country Financial renters insurance payment (previously MSI renters insurance payment), you can send it to P.O. Box 2100, Bloomington, IL 61702. You can also make payments online. However, you shouldn’t be seeing a MSI renters charge on your credit card statements anymore, as the policies are now managed by Country Preferred Insurance Company.

Country Financial Insurance Coverage Options

MSI Preferred Insurance Company was sold to Country Financial in 2012 and merged to become Country Preferred Insurance Company. Therefore, MSI renters insurance is now sold by Country Financial. It offers two different renters insurance policies:

• Basic coverage. This coverage names specific events in which it will cover your belongings. Some of the events include lightning or fire, theft and vandalism, wind or hail, frozen pipes, or spoiled refrigerated products.
• Premier coverage. This will cover your belongings for any of the events listed in the Basic policy, plus some extra events, such as damage to appliances from a power surge, damage from spilled paint, or broken antiques.

When you buy a policy from Country Financial, you can choose between actual cash value claims settlement or replacement cost claims settlement. Actual cash value claims settlement means that you would receive coverage up to the value of your belongings minus depreciation, while replacement cost claims settlement means that you would receive coverage up to the cost to repair or replace the damage with today’s cost.

Every Country Financial renters insurance policy includes liability coverage to cover you if someone is injured on your property or if you damage someone else’s property. Country Financial’s liability limits are up to $1 million, and you can add special endorsements for things like small businesses or watercraft. You can also purchase up to $25,000 in medical coverage for people who are injured on your property.

Country Financial also offers additional coverages for high-value items, such as:

• Jewelry, watches, and furs
• Silverware, gold ware, and pewter-ware
• Money and other currency
• Firearms
• Watercraft
• Recreational motor vehicles

You can also add identity theft coverage, earthquake coverage, flood insurance, and sewer coverage.

Should I buy MSI renters insurance?

Because MSI Preferred Insurance Company merged with Country Mutual Insurance Company, you would now have to buy your renters insurance policy from Country Preferred Insurance Company, the company resulting from the merger.

Country Financial renters insurance policies seem to be fairly comprehensive. The company provides more than one base policy and multiple ways to customize your coverage, so you can get exactly what you need. It also offers its products at affordable rates.

Customers seem to be happy with their Country Financial coverage, but it is not a widely-known company, so it’s always recommended to do a little more research before making a decision.

If you’re unable to find affordable MSI renters insurance or Country Financial renters insurance, enter your ZIP code into our free quote comparison tool below to find a company near you.

Country Financial Insurance Rates Breakdown

The average cost of Country Financial renters insurance rates (or MSI renters insurance rates) are $154 per year or $13 per month. We can also take a look at the average renters insurance rates by state to give you an idea of what you might pay.

In many cases, Country Financial’s rates are slightly lower than the national and state averages. In addition, Country Financial offers some discounts to save you even more money. These discounts include multi-policy discounts, claim-free discounts, welcome discounts, loyalty discounts, and good payer discounts.

Country Financial Discounts Available

The provided content did not explicitly mention specific discounts offered by MSI renters insurance. However, it did mention discounts offered by Country Financial, the company that took over MSI Preferred Insurance Company. Here are some of the discounts mentioned in the content:

• Multi-policy discounts: Discounts may be available when you bundle multiple insurance policies with Country Financial.
• Claim-free discounts: Policyholders who have a history of not filing claims may qualify for discounts.
• Welcome discounts: New customers may be eligible for introductory discounts when they sign up for insurance with Country Financial.
• Loyalty discounts: Discounts for policyholders who have been with Country Financial for an extended period.
• Good payer discounts: Discounts for customers who consistently make on-time payments.

Please note that the availability and specifics of discounts may vary, and it’s always recommended to check with the insurance provider directly for the most accurate and up-to-date information on discounts.

How Country Financial Ranks Among Providers

MSI Preferred Insurance, now operating under Country Financial following a merger, faces competition from several key players in the insurance industry. Here’s an overview of its main competitors:

• State Farm Insurance: State Farm is a well-established insurance giant known for its extensive range of insurance products and services. With a large customer base, State Farm offers competitive rates and a strong reputation for customer service.
• Allstate Insurance: Allstate is a prominent insurance provider offering a variety of coverage options. It is recognized for its innovative features and various discounts aimed at attracting a wide range of customers.
• Geico Insurance: Known for its direct-to-consumer model and witty advertising, GEICO is a major player in the insurance industry. It emphasizes competitive rates and simplicity in its offerings.
• Progressive Insurance: Progressive has gained attention for its innovative approach, particularly in the auto insurance sector. It is known for offering a range of coverage options and utilizing technology for personalized pricing.
• Farmers Insurance: Farmers Insurance is a diverse insurance provider offering a range of products, including homeowners and renters insurance. It emphasizes personalized service through a network of local agents.

While MSI Preferred Insurance, now part of Country Financial, brings its unique offerings to the table, it competes in a dynamic market alongside these major industry players. Each competitor has its strengths and weaknesses, making it crucial for consumers to carefully compare policies and select the one that aligns with their specific needs and preferences.