Learn how you can get the best deal on renters insurance without sacrificing quality coverage.
How much does renters insurance cost?
Renters insurance is surprisingly affordable. Though many factors go into determining the cost of renters insurance — such as your location, coverage options, limits, and deductibles — renters insurance provides superior protection for as little as $10 a month on average* and when you factor in the quality of coverage you get for the price, you'll see that it provides great value for your money.
Does owning a pet cause my renters insurance rate to be higher?
In general, no. When you get your renters insurance quote, you might be asked if there are any dogs on the property. However, owning a dog won't usually affect your renters insurance rate. Keep in mind, though, that if you own certain breeds such as Akita, chow chow, Doberman, pit bull, Staffordshire bull terrier, Rottweiler, Presa Canario, wolf hybrid, or a mix of these, you might not qualify for renters insurance due to liability issues.
How can I find the best renters insurance?
To find the best renters insurance for you, do your homework. Check out a few reputable renters insurance companies, get multiple quotes, and then determine which company and policy suit you best.
When researching policies, don't let price be the only determining factor. Cheap renters insurance, while it might save you a few dollars a month, might not meet your needs if the unexpected occurs.
What renters insurance discounts are available?
If you're an Esurance policyholder and add renters coverage to your auto policy, you could qualify for the Renters Plus® discount.**
How can I lower my renters insurance rate?
Though renters insurance is already very affordable, you can lower your rate in a number of ways. For example, you can:
Lower your limits and increase your deductible
Note, however, that when you lower your limits and increase your deductible, you'll be assuming more risk in case an incident occurs. Generally, increased levels of coverage cost just a few dollars more a month — so it might not make sense to scale back your level of insurance.
Improve your credit score
Not only could your renters insurance rate decrease when you improve your
credit score, you'll also find that you could pay less for everything from car insurance to financing to credit card interest rates. Since those with higher credit scores are deemed more credit-worthy and less risky overall, they tend to receive lower insurance rates as well.
Not all insurers take credit scores into consideration, however, so you might not get lower insurance rates even if you do raise your score. That said, you'll still earn major bragging points and lower interest rates elsewhere if you improve your credit worthiness.
Compare renters insurance rates
To weigh the costs and benefits of each policy, get multiple quotes and compare each one side by side. Look at their limits, deductibles, standard coverages, and the cost of any additional options. Remember, the cheapest renters insurance may not be the best. You also want to take into account the insurance provider's financial reliability, reputation, and quality of service.
How can I get cheap renters insurance?
Cheap renters insurance, while enticing, might not provide the kind of quality coverage or service you deserve. Since renters insurance is already affordable, opting for the cheapest renters insurance you can find might not be your best bet.
To find the right policy at the right price, we recommend that you compare renters insurance policies. Get a few renters insurance quotes to determine which suits you best.
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*Average monthly cost and annual premium figures based on Esurance renters coverage purchased between 8/25/2012 and 7/31/2013. Your premium will depend on the details of your selected coverage and your specific property. Coverages subject to availability and qualifications. Terms, conditions, limits, and exclusions will apply. Esurance renters coverage is not available in all states. In those states, Esurance Insurance Services, Inc. (California License #0G87829), offers, among other insurance products and services, the renters policies underwritten by member companies of the Homesite Insurance Group and Security First Insurance Company.
Policies purchased by residents of FL are underwritten by Security First Insurance Company, and policies purchased by residents of all other states are underwritten by member companies of the Homesite Group Incorporated where not underwritten by Esurance. Renters insurance claims are processed and paid by the underwriting company. Esurance does not underwrite, provide customer service, or pay claims for any renters policies underwritten by Security First Insurance Company or member companies of the Homesite Group Incorporated.
**Discount of 30 percent of renters premium deducted from auto premium automatically.
This page is intended to provide you with general information about renters insurance, and to help you understand the various kinds of coverage. It does not describe or refer to any specific policy or coverage. For information about your particular coverages, including limitations and exclusions, we encourage you to read your policy contract and consult your insurance representative with any questions.