Tips to Get Cheap Renters Insurance Quotes
There are a number of steps a renter can take to aid in finding cheap renters insurance quotes. That’s important because renters insurance is a must for people living in apartments in order to safeguard their belongings. Even if the owner of the apartment building has insurance, that doesn’t cover the renter’s belongings inside individual apartments. Renters insurance is also important in the event someone has an accident in your apartment. Liability coverage can be added to your renters insurance policy that can be used to pay for attorneys fees and the cost of a court judgment if someone is injured by your negligence. Consider these tips to get cheap renters insurance quotes.
- Adjust the deductible. The deductible is the amount that a policyholder pays before the insurance company handles a claim. Generally speaking, insurance policies are cheaper when deductibles are higher. Of course, you have to be sure you can handle the deductible, particularly if you need to file several insurance claims in a short period of time.
- Use an existing insurer. Most insurance companies offer discounts to policyholders who have more than one policy with the company. So, if you have other insurance, it makes sense to at least get a quote from your car, flood or life insurance company to see if they offer a discount.
- Buy only the coverage you need. It makes no sense to insure old clothes and other belongings you don’t intend to replace. When deciding on the amount of coverage, choose a reasonable figure, recognizing that the higher the amount for contents or liability coverage, the more the policy will cost.
- Seek out discounts. Ask about any other available discounts. Some insurance companies offer discounts depending on where you live. If the statistics show that apartment theft is unlikely in the city where you live, the cost for renters insurance is probably lower than other areas of the country where such crimes are a little more common. Some companies give additional discounts if you have burglar alarms, fire alarms, window locks, etc. Be sure to check out all the things that could qualify you for a discount.
- Shop around. The only way to be sure you get cheap but effective insurance is to get plenty of quotes. If you have one or two quotes for renters insurance, it’s nearly impossible to know if the company offering the lower price is giving you a great deal or merely a price that’s a little lower than a quote that could be outrageous. However, if you get at least 3 to 5 quotes for renters insurance – perhaps more – it is easier to know which is the cheapest.