Learn how to score savings on a renters insurance policy, without sacrificing quality coverage.
renters insurance cost
How much does renters insurance cost?
Renters insurance is surprisingly affordable. Though many factors go into determining your rate — such as your location, coverage options, limits, and deductibles — renters coverage from Esurance is available for about $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 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.
renters insurance savings
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 provide the quality coverage you need and the service you deserve.
What renters insurance discounts are available?
Since the average premium is already so low, renters discounts are generally unavailable. In some states, however, consumers who add Esurance renters coverage to their auto insurance quote or existing auto policy are also eligible for the Renters Plus® discount on their car insurance, which can offer additional savings.**
How can I lower my renters insurance rate?
Though already very affordable, renters insurance rates can be lowered 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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