Top 12 Tips for Finding Cheap Renters Insurance

Cheap renters insurance is not that hard to find if a person knows exactly what they are looking for. The fact is that like most insurance types, renter's insurance is not fixed and individuals have the option of taking in or taking out some factors to put their policy within budget. That being said, following are the top dozen tips on how to find cheap renters insurance.

Tip 1: Start with the Familiar

Got car insurance, life insurance or health insurance? Chances are these providers also support renter's insurance policies and if this is the case, then they should be the first go-to when looking for something cheap. Loyalty is highly valued in the insurance industry and it's likely that they will provide a discounted price for current clients. Don't forget to remind them of this fact when asking for renter's insurance quotes.

Tip 2: Browsing Around

Of course, if the above tip doesn't really provide insurance for their clients, then browsing around would be the next best option. Use the internet for this and ask for quotes from several providers. Place them side by side with each other in order to determine which one provides the best deal.

Tip 3: Choose an Adequate Deductible

Whenever tragedy strikes, policyholders would often pay a specific amount to cover losses and anything beyond that will be paid for by the renters insurance. This is called the deductible and naturally, the higher the deductible is, the lesser would the insurance cost.

Tip 4: Conduct an Inventory for Coverage

What exactly are the items inside the house and do they all need to be covered by the insurance? Include only the items that need to be replaced should tragedy strike on the rented home. This usually refers to appliances and electronics.

Tip 5: Check with Employer

For those who are working under large firms or even small ones, try asking the Human Resources if they provide group insurance policies for their employees. Insurance providers usually charge a smaller rate to these group applications so take advantage of this fact.

Tip 6: Choose a Safe Rental Area

The location of the rental property is also crucial especially if there are lots of robbery cases in the location. This would increase the likelihood of one's home being broken into, which means higher risk for the insurance company. Hence, for those who are just looking for a rental flat, make sure to get something from a peaceful neighborhood.

Tip 7: Install Safety Measures

Of course, the above tip is not always possible and if this is the case, then just makes sure that the specific rental is safe. Try installing anti-theft features like burglar alarms or fire alarms around the area and specify their existence during application.

Tip 8: Ask about Discounts

Some insurance companies do not talk freely about their proffered discounts unless asked directly. Hence, don't be afraid to be forthright and question them about special discounts that they might offer for their clients.

Tip 9: Credit Score

Make sure to have a good credit score since this will be a big factor. Providers need to know that their clients will pay and are capable of paying for their policies.

Tip 10: Stop Smoking

The idea is that people who smoke are more prone to accidental fires. Hence, companies usually prefer policyholders who do not run this type of risk.

Tip 11: Choose EFT

Payments made through mail usually cost around $5 or more each month. It might sound small at first, but over the year it can amount to $60 or more. Save on these by choosing EFT payments for zero transactions charges.

Tip 12: Read Thoroughly

Peruse the policy as much as possible before actually signing in with the company for renters insurance.