How to Get Discounts on Renters Insurance

Posted in

February 12th, 2009

Renters insurance is a relatively inexpensive and easy way to make sure your belongings remain safe. A basic renters insurance policy can be had for less than you think. Since the policy only covers your belongings and not the building, the premiums for renters insurance are often extremely low compared to other forms of insurance. Even so, there are ways to get discount rates on renters insurance and lower payments even further.

For instance, many insurance companies will offer you a discount for certain safety features on your building, such as smoke detectors, security cameras in the building, or certain types of door locks. Since these features lower your liability for fire or theft, they make you a more attractive risk to the insurance company.

Combining several forms of insurance at one company may also qualify you for a discount. For example, if you purchase a renters policy from the company which sold you your auto insurance policy, you may get a discount on one or both policies as a reward. Its wise to make your auto insurance company your first stop when shopping for good rates on renters insurance.

As with any insurance policy, choosing a higher deductible will also lower your payment rates. However, in the case of renters insurance, you should examine a high deductible closely and make sure it fits your situation.

Have you tried any of these methods to get a discounted renters insurance plan?