Renters insurance is pretty cheap to begin with - you can get it for less than $10 a month. But you don't want to spend more than you have to. Here are the 10 best ways to save on renters insurance.
1. Compare rates. Because insurance rates can vary dramatically from company to the next, you need to get rate quotes from a number of companies. The easiest way to do this is to visit an insurance comparison site where you can get quotes from multiple A-rated companies (see link below).
2. Increase your deductible. The deductible is the money you pay toward a claim before your insurance kicks in. A standard renters insurance deductible is $250. If you increase it to $500, you'll save up to 12% on your premium. Increase it to $1,000, and you'll save up to 25%.
3.Consolidate your renters and auto insurance. You can get a multi-policy discount if you buy your renters and auto insurance from the same company. This can save you up to 15%.
4. Check your credit rating. Insurance companies use your credit rating to predict the likelihood of your filing a claim. If you have a bad credit rating, find a company that doesn't check your credit.
5. Install security devices. Most companies will give you good-sized discount if you install, or have your landlord install, security devices such as burglar alarms and dead-bolt locks.
6. Install safety devices. Installing smoke detectors and fire extinguishers will also get you a discount with most companies
7. Quit smoking. Smoking causes tens-of-thousands of fires every year, so most insurers will give you a discount of no one in your home smokes.
8. Request discounts. You may not be aware of all the discounts your insurer offers, so ask your agent to give you all the discounts you're eligible for.
9. Pay premiums on the Internet. You can save up to $5 a month or more in processing fees by paying your premiums using automatic bill pay, your credit card, or online banking.
10. Get a group rate. Many insurance companies offer a discounted rate if you belong to an organization such as a credit union, college fraternity, sorority, or even if you have a particular credit card. Ask your agent what organizations they give discounts to.
Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to get
renters insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on ways to save on renters insurance.
