If you are a tenant, you may be wondering if you need renters insurance and how much it will cost. It is important to know that your landlord’s insurance policy only covers the building and grounds, not the personal possessions in your rented home.
Renters insurance will protect your belongings in the event of fire, theft or storm damage, or if a water pipe breaks and water damages your furniture or other belongings.
Shopping for renters insurance quotes is quick and free of charge. Simply contact an independent agent in our network. A local member agent in your area can help you to assess your needs and can gather several free renters insurance quotes for you to compare so you can find the right fit for you.
How to Get the Best Renters Insurance Quotes
It’s best to get several different renters insurance quotes, as rates vary from one insurance company to another. While you may start by reviewing online quotes, an agent is your best resource for comparing policies and rates.
An independent agent is a great resource for comparing quotes because these agents have access to multiple insurance companies and can compare multiple rates for you.
Here are some tips to get accurate quotes and keep your renters insurance premiums low:
- Decide what you want to insure and the replacement value for those items
- Determine whether you want replacement value coverage for your personal belongings or actual cash value (depreciated); replacement value coverage will cost a bit more, but will protect you more fully in the event of a loss
- If your rental unit does not have a deadbolt lock, ask your landlord to install one; this will improve your home security and may potentially lower your rates
- Maintain a non-smoking household, and ask about related discounts
- Choose your deductibles carefully; higher deductibles mean lower premiums, but they will mean higher out-of-pocket costs if you need to file a claim
- Ask your insurer about discounts for professional memberships and affiliations
- Improve your credit rating, if necessary
What Goes into Accurate Renters Insurance Quotes?
You can get more accurate renters insurance quotes by working with an independent agent than by browsing online. To get the most accurate quotes for you, your agent will need to collect several different pieces of information, such as:
- Information about you in order to run a credit report
- Information about past home or renters insurance policies you have carried
- Details about your rental home or apartment building, such as whether it has a secure entry
- The type and amount of coverage you need; for example, you will need to choose how much liability coverage as well as how much personal property coverage you want
- The deductibles you want to set for your policy
Considerations When Looking for Renters Insurance Quotes
A common mistake both renters and homeowners make is to underestimate the value of their personal property, and the need to insure these items against loss.
By taking an inventory of your personal belongings, including everything from clothing to jewelry, electronics, furniture, appliances and cookware, you can make sure you get adequate coverage to protect your investment in the event of a loss such as a burglary or fire.
Contact an independent agent in our network today for assistance in determining your needs and comparing free renters insurance quotes. A local member agent in your area can help you find the right balance between policy cost and deductibles, and get the protection you need.