What People Are Saying
Thanks for making it easy to find the cheapest renters insurance. Knowing our stuff is always protected gives me peace of mind.
Matt and Bethany, Charleston SC
RENTAL INSURANCE COST
Rental insurance cost is one of the most important things to consider when looking into renters coverage. If you are currently without renter's coverage or if you are looking to switch providers, it is important that you find the best quote possible. After all, regardless of your current income situation, no one wants to pay more than they need to on renters coverage. We can all find better things to spend our hard earned money on. While you want to remain protected, you do not want to sacrifice your savings to do so. And, fortunately, you shouldn't have to. There are a number of rental insurance companies out there that can offer you a comprehensive plan at an affordable premium. You just need to know where to look.
Home Renters Insurance Prices
Renters insurance can cost anywhere from $10 to $20 per month, on average. What this means is that for around the same price you will pay to see a movie in the cinema, you are protecting your family, your belongings and your financial future in the event of any disaster. This includes natural disasters such as damage caused by earthquakes, landslides, tornadoes and hurricanes, as well as damage caused by poor weather such as sleet, hail, snow or ice, as well as damage caused by negligence of others, such as theft, vandalism, civil commotion and fire.
Coverage will cost around the same regardless of who you are. Unlike car insurance, you will most likely not be able to get a discount because you have been renting for a long time or because you are a senior citizen. Instead, your rental insurance cost will depend on the level of coverage you are looking for as well as where you are currently living. If, for example, you are looking to insure a number of expensive paintings in a luxury condo, then you could want higher limits and thus a higher cost on your premium than a student just starting out. Where you live will also impact your rental insurance cost. Rental insurance for a loft or apartment in a safe neighborhood will most likely be a cheaper cost than coverage in a high crime area for a larger house or condominium.
Best Rental Insurance Cost Deals
In addition to looking into the rental insurance cost, you should also compare the various coverage options as well as the rental coverage providers in your area. In general there are three main levels of coverage - contents coverage, loss of use coverage, and physical liability coverage. Contents coverage is a type of protection that will pay to replace or repair any moveable objects in your rental home in the event of a disaster. This includes furniture, electronics, jewelry, clothing, toys, paintings, area rugs and anything else that is moveable. Loss of use coverage will pay for any moving cost or alternative accommodation expenses if your rental home is damaged in an accident and rendered unlivable. Instead of worrying about paying for additional accommodation in a hotel and finding a moving van at short notice, your loss of use coverage will pay for these unexpected expenses. Physical liability protection comes into effect if someone if seriously injured in your home. If someone is seriously injured, physical liability protection can pay for the medical expenses including rehabilitation costs, surgery and loss of income in most plans. Physical liability protection can also pay any legal expenses if a lawsuit ensues because of the accident.
No one plans on having their entire contents destroyed in a fire; however, if this does happen, you could be looking at several thousands of dollars in repairs and replacements. The last thing we want to spend our money on is the cost of refurnishing our rental apartment. This money could go towards a down payment to your own townhouse, a family vacation at the end of the year, or perhaps a clean slate on your credit card bill....If you are struck with disaster and without insurance, it is not only your furniture that could be destroyed - it is also your financial security.
Rental Insurance Cost Comparison
Just because you want comprehensive coverage does not mean you should have to pay an over-the-roof rental insurance cost. It is possible to get the best of both worlds - a comprehensive policy with an affordable premium. One way to do this is to always do your research and compare rental insurance cost and companies. With an online search you will have instant access to a number of providers in your area. You can browse through the policy options, compare rental insurance cost and purchase a plan that is best suited towards your needs. Instead of taking the risk and renting without coverage, get the protection you want at a price that you can be happy with.