You are on the hunt for cheap renters insurance. You don't have much cash in the bank, and the struggling economy (at least of 2010) has put a clamp on your budget. At the same time, you don't want to expose yourself to potential catastrophe, financially speaking. At this juncture, you simply cannot afford to replace valuable possessions in your apartment, such as your flat screen TV, your computer, jewelry your mom gave you, and your painstakingly maintained wardrobe. Also, you realize that renters can be sued if someone gets hurt on their property. For instance, if you host a party, and someone steps through a broken plank on your patio breaks his leg, he could theoretically sue you for his medical bills, wages lost, and a plethora of other costs.
Renters insurance usually includes liability protection. So your insurance company would pay for those costs, potentially including your legal fees. (Note: For ultra cheap renters insurance, you could opt for $100,000 premises liability protection, but most experts suggest you get at least $300,000 coverage, since bumping up like this shouldn't hike your premiums up that much, and you will get a significant extra cushion of protection).
Tactics to Make Cheap Renters Insurance Cheaper
Being a homeowner has its virtues, but homeowners insurance is generally terrifically more expensive than renters insurance. So take heart. You already save tons on insurance over your friends who own their own places. On top of that, you could get additional discounts.
For instance, if you own a car, select one carrier to write both your renters and auto policy for a multi-line discount. Add a deadbolt to your door to net a safety related discount. Be wise about what property you cover. If you own a diamond engagement ring, for instance, check into getting that covered separately. If you are on the verge of adopting a pet, be mindful that insurers consider certain breeds of dogs risky. Insurance companies frown upon pit bulls, rottweilers, and doberman pinchers – especially animals who have bitten in the past. You may find it nearly impossible to get cheap renters insurance if you own one of these animals.
Are you 55+ years old and retired? If so, that alone may entitle you to a discount. Talk to an insurance agent about how to make cheap renters insurance even cheaper by personalizing your policy and tailoring it to your needs and risk tolerance.
Collecting Quotes to Speed Up and Improve Your Search
Your quest for cheap renters insurance can gobble up tremendous amounts of your time, if you are not careful. After all, if you shop the old-fashioned way – via individual insurance company websites, for instance – and you will find yourself filling out quote form after quote form after quote form, answering basically the same questions over and over for each insurance company. Instead of being inefficient like that, use NetQuote to get five and perhaps more quotes right now. Our form is fast, easy to use, and free to use.
See how easy it is to shop for and save on renters insurance – get your free quote now.