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
RENTERS INSURANCE COMPANY
Every renters insurance company is different, and all of these differences must be addressed and evaluated in the process of hunting down insurance plans if you are to end up with the best deal on a policy. When you look at a company and the quote it offers for coverage, do not make the mistake of simply looking at the number on the bottom of the page and nothing else. There is more involved than price, and other important factors to think about besides the cost of renters coverage. Think in terms of which company will offer you the highest quality protection for your money. Look into customer service and claims response. Find out about the reputation of a renters insurance company among customers and consumer advocates. There is sometimes more than meets the eye when it is time to complete this process.
Price not the Only Factor
It goes without saying that the price a company proposes to charge is the number one most important factor most renters take into consideration when they get a quote back for coverage. At any rate, that is normally the first thing we look at when gathering quotes from a renters insurance company. But that does not mean price has to be the only important factor. As a matter of fact, it often proves to be quite the opposite. That is, the cost of an insurance policy often ends up being a nonfactor. There is a very simple reason behind this, and it all has to do with competition.
Those who compete with one another for the right to insure you as a renter in your house or apartment know and understand that they are not sending you back quotes in a vacuum. Every company knows all too well that they are in a competition for your business with at least a handful of other companies. Therefore the proposed premium on a few or more of the family renters policies may be very close together. In many cases, these prices are so close together that they essentially become a nonfactor, meaning other considerations are not only important, but necessary in objectively deciding which way to go.
If all your quotes come back close together on price, the next logical thing to do is to take a closer look at each of those estimates and also at each renters insurance company providing the quotes. Think in terms of the coverage being proposed and the reputations of the companies you are considering working with. Hold up the specifics of each plan in reference to how it would protect you in your condo or other rented home. Look at each renters insurance company individually and against the group as a whole.
Coverage Limits and Customer Service
Examine each quote and check out the coverage limits presupposed by that quote. Does the one with the lowest price reflect the same level of protection as all the others? Do all of them have the same limits of protection as well as the same deductibles and limits listed? If there are other nonmonetary ways to separate the different providers from one another, now is the time to examine those ways in your efforts to find the best renters insurance company to provide your next renters insurance policy.
Make sure each renters insurance company you have solicited from is offering the same limits and the same deductibles. If you need extras like flood coverage or jewelry protection, look into these prices as well and match up those parts of the plans against one another. Try to get the fullest sense of what each provider is offering to you for your family townhouse as you possibly can at this stage of the process.
Reputation and Performance are Important
Price is always going to be paramount on the minds of most consumers. When we shop for renters insurance, our first tendency will be to immediately sign on with the renters insurance company that can offer us the lowest price on our condominium or student loft. But this knee jerk reaction may only create a short term gain that we pay for with a loss down the road in the event of a major claim. A renters insurance policy and a renters insurance company are only as good as the protection they provide you as a customer.
The reputation and the performance of your insurance company are just as important to think about as the price they charge for your coverage. Price is and will always be important, from the first time you ever rent till you become a senior citizen and beyond into your autumn years. But the company you choose to work with has to provide more than just a cheap premium. Expect great coverage from your provider.