4 Strategies for Securing Affordable Renters Insurance

 

You’ve found the apartment of your dreams. You’ve signed off on all the paperwork and paid your fees. There’s only one thing left to do. 

You’ve got to get renters insurance. Most landlords require you to have it. If you fail to maintain it, you’ll violate your lease agreement. 

The good news is that it’s not too hard to find affordable renters insurance. If you know where to look, you’ll get enough coverage to satisfy your landlord and protect yourself without emptying your bank account. 

We can teach you how it’s done. Keep reading to learn how to find the most affordable rental insurance in your area. 

The Average Cost of Renters Insurance 

How much is renters insurance? The answer to this question is important to know before you begin shopping around. 

The truth is, it won’t hurt your wallet as much as you may think. Most people only pay about 19 dollars a month to open a policy. 

The types of quotes you’ll get will vary from state to state. There are also a few factors that will increase your rate. 

For example, the more coverage you need, the more you’ll have to pay. Your insurance claims and credit history also have a large role to play. 

  1. Get Several Quotes 

The first rule of finding the best affordable rental insurance is to shop around instead of going with the first company that gives you a reasonable quote. 

Again, rates vary from provider to provider. Even if you’re only getting a few dollars shaved off the amount you pay every month, it adds up after a while. 

  1. Go for a Higher Deductible 

Your deductible is the amount of money you pay before your insurance company steps in to help you out. For example, let’s say that a storm comes through your area and does 10,000 dollars worth of damage. 

Your deductible is 2,000 dollars. That means you’ll have to pay 2,000 dollars toward the damages, and your insurer will help with the rest. 

  1. Make Your House a Safer Place to Live

If you have a burglar alarm set up, that makes it less likely that you’ll have to file a claim. Since you’re not as risky to cover, your insurance provider may be willing to give you a cheaper rate. 

  1. Choose a Bundle 

Bundling your renter and auto insurance can be pretty convenient. You’ve only got to deal with paying a single company every month. 

Most insurance companies also reward you for bundling by providing a sweet discount. 

Finding Affordable Renters Insurance That Won’t Break the Bank 

Most landlords won’t let you live in one of their vacant properties unless you buy renters insurance. They don’t want to be responsible for any of your things that break or go missing. 

It’s not as hard as you may think to find affordable renters insurance. As you can see here, there are many tricks you can try out to lower your monthly premium. Start shopping around today. 

For more tips that will help you find affordable coverage. Visit the Insurance section of our blog.