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 RATES
Rental insurance rates are normally not very high, especially if one were to take into consideration the extent of the financial losses that a renter could encounter he or she neglected to acquire protection against the risks, or perils that so often come to homeowners. The prices are also quite variable, and to a good degree also negotiable. These perils or risks can sometimes be grave and bring serious financial difficulties from which recovery could take a very long time.
Rental insurance rates can be found online on the websites of all the major carriers, but they are usually quite general in scope. This is to be expected since they could not take normally into account any of the major factors that influence the rental insurance rates that a customer will ultimately receive.
Rates for Renters
The rental insurance rates that tenants pay can vary widely depending on a number of factors, such as where in the country in which the house, condominium, or townhouse is, or the street address in the part of a city, because these can give insurers reasonable clues about the risks that exist, whether natural occurrences or caused by human beings. The rental insurance rates could be affected by the tenant's stage in life. If the renter is a student any considerations given would probably be substantially different to those that would be available to family with teenagers, or to a senior citizen couple.
Because the rates are not very high to begin with, and because there are so many factors that could affect them rental insurance rates can fit into the budgets of most households. Figures from the Insurance Information Institute estimate the average price for renters in some parts of the country as possibly below two hundred dollars a year.
Rental Rate Discounts
Most companies that sell this kind of coverage will offer a discount on the rates if the renter already has a policy with that company. Insurance companies look favorably on consolidated policies, or multiline policies, that cover a customer in different areas of his or her life. A rental insurance combining with motor vehicle coverage and a motorcycle policy is an attractive example.
When a person is renting a home, apartment, condo, or loft, that person should always check to make sure that the minimum acceptable protective and safety measures are installed. Burglar alarms, dead bolts, and other systems will not only thwart theft and keep the renter safer, but will also earn the tenant a reduction in the rental insurance rates that an agent will quote. The same applies to sprinkler systems and smoke detectors that protect the property against damage from fire. If there are small children in the family and there is a swimming pool and or upper storey windows, fences and barricades that to prevent falling and drowning will also be considered by the insurer's agent when a rental insurance quote is being calculated for prospective customer.
Getting Rates Online
Nowadays, many companies across a range of industries will offer special rates for people buying their products online. In some areas, this might be a not exceedingly important matter, or an enormously convenient thing. Insuring a home and its contents is very different. It should always be approached with great care. Customers should never purchase this important product without direct interaction with a live person, preferably in person.
It is a good idea, and very convenient, to collect information on line to aid in making a final decision. However, that decision should preferably only be taken after having met with an agent and discussed all the details and particular requirements and preferences.
Although every significant insurance carrier has a website and makes information available on all aspects of purchasing coverage, and give good working descriptions of their services, should be careful always eventually meet with an agent when the policy is actually being activated.
If a customer already has a policy with the agency he or she is currently interviewing for rental insurance it will almost always be possible to negotiate a discount on the price of the second policy with little difficulty. Merging the policies is one of the most usual means of earning a reduction in rental insurance rates.
Getting the Best Rental Rates
Before speaking definitively with an agent about purchasing rental insurance, the prospective customer should get all the information possible about the size of premium and deductible that would be most affordable. The deductible should be the most easily manageable should a claim have to be filed. The leaseholder should also make a provisional decision about the amount of liability coverage he or she would consider sufficient.
Being well-prepared for negotiating with an agent could put a rental customer in good stead for getting attractive rental insurance rates quotes, and so is knowing the factors that are important to agents.