Renters Insurance $4 A Month!
You’ve seen the ads. You’ve clicked the links. You’ve diligently quoted a policy being completely honest.
You’ve gotten a price that’s… Well… Not $4 a month.
It’s not even $48 a year, which would be the same. Or $480 a decade, which is also the same thing though an unlikely length of time for a policy period to extend.
What’s up with that?
Renters Insurance $4 A Month, Is It Possible?
Can you, in fact, get Saint Paul Renters Insurance for $4 a month? What would you have to do to get renters insurance for $4 a month?
Considering that’s about twenty-five percent of the national average cost of renters insurance (see below), we think it’s highly unlikely that you’ll find a policy like that. Or rather, that it’s highly unlikely that you’ll find a useful policy like that. Someone out there, somewhere, is selling a policy with $5,000 of actual cash value for your personal property, $50,000 of liability coverage, and terrible claims service. We’re not sure who, but someone must be out there doing it, or those ads wouldn’t exist, right?
It would be difficult, if not impossible, to widely sell renters insurance for $4 a month to the general public. We are aware of policies in the $99 a year range in NC, and the $75 a year range in both NJ and SC. We have those policies available to the people who are able to get them. They are, of course, limited not only by geography but also by the claims and history of the individual seeking to be insured, but they do exist. $75 a year is about the lowest that any reputable company will go.
Then Why Do They Run Those Ads For $4 Renters Insurance?
Because they can. Because someone, somewhere managed to get that price. So it’s true. Technically. Sort of.
The ad says “$4 renters insurance.” It doesn’t clarify for whom, or in what state, or what their credit looked like, or what the construction of the home was, or what else was bundled with the policy. You could get closer to that number if you bundled auto in with your renters insurance. It wouldn’t just be $4 renters insurance in many cases. When you bundle your auto in with your renters insurance, you can often save so much money that the renters insurance is, in effect, free.
Instead of just looking for the cheapest renters insurance – because that may well not be the best policy for you – you should be looking for an affordable policy and then looking at how to make things more efficient. Bundle your auto in with it. Make sure you’re getting all the discounts you’re entitled to. Make sure you’re reviewing coverage levels at renewal to be sure you have the policy you need. All of those are important things to do to get it down as much as possible.
What’s The Real Cost If There’s Not $4 A Month Renters Insurance?
The national average price of renters insurance is just $187.00, according to the III. That works out to as little as fifteen dollars per month. The vast majority of families can budget renters insurance easily at those prices.
Additionally, it's important to note that renters are at a significantly higher risk of experiencing loss than homeowners. Renters occupy roughly one third of total housing stock in the country, and yet they are fully fifty percent more likely to experience theft than homeowners, according to the Bureau of Justice Statistics.
It only costs a few dollars a month to protect your family, and this cheap renters insurance is a great way to mitigate the additional risks that come with being a renter.
Though you’re not likely to find Saint Paul Renters Insurance for $4 a month, it’s still cheaper than you would have imagined. Some people think that renters insurance costs something akin to homeowners insurance. That’s just not the case, because you’re not insuring the building. All you’re covering is your stuff and your liability. That makes renters insurance cheap relative to just about any other kind of insurance.
Can you spare about fifteen dollars a month? Most people can. It’s the cost of one pizza delivery, or two lattes. It’s also the cost of the ATM fees that the average American pays each month because they just don’t feel like finding their bank’s free ATM. There are a ton of other things you could do with fifteen bucks a month, but here’s that catch – somewhere in your budget, you’re probably already wasting fifteen dollars a month that you could use to buy renters insurance. Maybe it’s the aforementioned ATM fees, maybe it’s somewhere else, but it’s easy to find enough money to get the renters insurance you and your family deserve.
What's Your Insurance Language?
- Do You Need Renters Insurance ASAP? Check out the fastest way to buy renters insurance online and get covered in just 60 seconds!
- Do You Feel Like Talking About It? Just call Effective Coverage and a renters insurance expert can help you get great coverage in minutes.
- Do You Need Some Time Alone With Your Thoughts? We understand, which is why we created the Minnesota Guide To Renters Insurance.
- Just Want To Watch A Movie Together? See our Video Minnesota Renters Insurance Guide!
How Is The Price Of Renters Insurance Determined?
The price of renters insurance in Minnesota is somewhat dependent on a score that incorporates your credit information. Before you panic, realize that the swing in price is fairly small. It might be the difference between fifteen and twenty dollars a month, for example. That’s not a significant difference to most folks’ budgets.
Your location is also quite relevant – not only recent claims in the area and crime reports, but also there’s a question of the building itself. What’s it made out of? How safe is it? Does it have the fire alarms that it should? All of these things come into play. Some companies uprate liability coverage slightly when there are kids in the home, but most don’t even ask the question.
There are a wide variety of factors that go into the price of your renters insurance, but you can rest assured that having renters insurance is always cheaper than not having it. Not a day goes by that someone doesn’t start a GoFundMe or a YouCaring for someone who had an apartment fire but no renters insurance. It’s a great way to help them recover, but renters insurance is far more likely to get them the money they truly need in order to rebuild their lives.
A fire doesn’t just cost your personal property. It also costs you the money you pay to stay in a hotel. You’ll be responsible for the landlord’s deductible, as well as for other expenses for other people who are impacted by your fire. In the alternative, renters insurance will pay for all of those things. That’s why you want to make sure you work with the insurance experts at Effective Coverage to get the right coverage at the right price to meet your needs.
It’s easy, too. You can be covered quickly and affordably, and all it takes is a click above or an easy, quick phone call to an insurance expert. Coverage can even start today if you need it to, and affordable payment options are available. Just call (800)892-4308 or click to get covered - whether you need Minnesota renters insurance quotes online or coverage anywhere else!
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.
Photo Credit: cometstarmoon Four Dollar Coins CC BY 2.0