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4 Foolproof Ways to Save on Renters Insurance

You know the value of a dollar. You don’t buy products needlessly and you do what you can to make every little bit count. You also understand the value of renters insurance. Renters insurance protects you in the event that your personal possessions are stolen, lost or damaged. But if there’s a way you can find a more affordable coverage, you’re going to do it. It starts with doing a quick renters insurance comparison with CoverHound.

Here are four foolproof ways to save a buck on your renters insurance premium.

Learning to Save

Eight in 10 Americans are in debt. CNBC has reported that in a survey conducted by the Pew Charitable Trusts, 68 percent of respondents discussed that having credit cards and receiving financial loans enabled their purchasing power. As a conscientious consumer, you don’t want to be one of those eight Americans. You have done everything you can to make sure your bills are paid on time, even if that has meant going without that new jacket or pair of shoes. Getting renters insurance won’t add to your financial burden, because we’re going to tell you how to save money on this investment.

According to the Department of Numbers, the average rental payment in the U.S. in 2014 was $934. Basically, every renter in the U.S. is spending close to, if not more than, $1,000 a month on a place to live. Think about your apartment. The furniture, clothes, cookware, electronics—altogether it’s easily worth thousands of dollars. You’ll want to protect your investment and we can help you do that.

Step 1: Conduct a Renters Insurance Comparison

The very first thing you’ll want to do is visit our renters page and put your zip code into the search box. Next you’ll be taken to a form that asks for your name, address, number of people living at the residence, and number of pets. Once you have submitted this information, you will be taken to our price comparison page and shown different insurance packages and their costs.

Step 2: Raise Your Deductible

As with your car insurance, the deductible is the financial amount you must pay out of pocket before your insurance agency will make the claims payment. A higher deductible usually means a lower insurance premium payment. Before you agree to the terms and conditions of your insurance contract, make sure your premiums are lowered if you have raised the deductible.

Step 3: Combine Your Renters and Auto Insurance Policies

Most insurance agencies will offer their clients a discount if said client combines their renters and auto insurance policies under one umbrella policy. This also makes paying those monthly premiums on time a little easier, since the payments are all going to one place.

Step 4: Ask About Discounts

It never hurts to ask your insurance agent about discounts. If you have a good credit score, a safety security system and/or you opt to pay an annual premium instead of monthly installments, your insurance company will reward your efforts with a lower premium.

Everyone wants to save a little money for a rainy day. Find your renters insurance package today with CoverHound.

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