 Tips to Help You Keep Your Renters Insurance Affordable
Everyone who rents a home needs renters insurance. It exists to help tenants protect themselves against the ramifications of numerous household problems, without burdening them with coverage that that only a full homeowner needs. However, while renters insurance is usually very affordable, it still isn’t something you want to overpay for.
So, when looking for and putting together your renters policy, what can you do to keep your coverage affordable, without lessening your benefits?
1. Work With an Independent Agency
All About Insurance is a trusted independent insurance agency, which puts us in a prime position to help you optimize your renters insurance benefits to your advantage. Independent agencies are not bound to sell the policies of just one insurance carrier. As a result, we have established strong partnerships with numerous industry-leading carriers, each of which offers quality renters policies. Therefore, we can compare the widest variety of policies to find the one that offers you optimized premiums, without pigeonholing you into buying the wrong type of benefits.
2. Take a Close Look at Your Coverage Limits
If you buy more insurance than you realistically need, then you will wind up paying more for benefits that can’t actually help you. It’s important to choose coverage limits that will offer you just the right amount of benefits.
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Your liability insurance is designed to protect you if you have to repay other people (neighbors, your landlord, friends) if you caused them injuries or property damage. It should adequately protect your net worth, since a lawsuit over these hazards could cost you an arm and a leg. Most landlords also require tenants to carry minimum amounts of coverage.
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When getting possessions insurance, carefully match your coverage limits with the value of your belongings. Also don’t forget that you might need specialty policy endorsements to insure high-value items or other special possessions.
Additionally, choose deductibles that you can afford on your own. A deductible is an amount of money that you have to pay towards a claim yourself, and any claim that is less than your deductible value will have no coverage.
3. Ask About Policy Discounts
Every insurer wants to provide customers with the most affordable benefits that they can. To further optimize costs, they offer discounts to qualifying policyholders. You might be eligible for a renters insurance discount if:
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You bundle your policy with other coverage, like your auto insurance
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You are a full-time student who has good grades
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You sign up for automatic policy renewals or automatic payments
Plus, your agent is happy to work with you to work out a payment schedule. That way you’ll be able to make your premium payments at times that are easiest for you.
Posted Friday, December 18 2020 1:48 PM
Tags : renters insurance
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