Renters Insurance Tips and Hacks

Also known as HO4 Insurance, a renters policy can be a real game-changer when it comes to protection for any losses or damage to your personal belongings if the home you’re renting becomes unlivable for specific reasons.

We have put together some tips and money-saving hacks for when you’re looking at buying or comparing renters insurance rates.

Tips and Hacks for Renters Insurance Policy

one

Always try and bundle your renters policy with another policy like auto or life insurance. Most insurance carriers will offer you bigger discounts on both policies if you move your insurance to them. If you’re not sure what you can bundle together then we recommend calling one of our friendly agents to explain what’s possible.

two

If you select a higher deductible figure then this can reduce your monthly or annual premiums. In the event of a claim, you would have to pay the higher deductible figure so try to balance that with a rate that you can afford. Increasing the deductible from $250 to $1,000 could save you between 10% and 20% on most policies.

three

This one might not be as easy to do, but if you can afford to move to an area with a lower crime rate then that can help bring your premiums down for renters and auto insurance. If you can’t move out of the area then look at renting a newer building with extra security features like cameras, alarm, secure private access, etc.

four

If you are a smoker you could try and kick the habit before your policy is due for renewal. Besides the obvious health benefits, this could also reduce your renters premium as the risk of fire is reduced. It can also reduce your life insurance premium so it’s a win-win!

five

Choose automatic payments where possible. Not all insurers offer this but it’s worth asking for as it can save you even more money.

six

Comparing insurance quotes is free, so make sure you do it before your policy is due for renewal. By comparing quotes from multiple insurance companies at the same time, you’re saving time and money. To make it as easy as possible you can do it online or over the phone with an agent.

To compare renters insurance quotes from multiple carriers, try our online Quick Quote tool or call our agents to see how much it costs to protect your personal belongings with the top insurance carriers.