Many people come to us wanting to reduce renters insurance costs. That’s an admirable and understandable goal, but it’s important to put it in perspective. Whether you have Olathe, KS Renters Insurance or renters insurance in Maryland, you’ve probably spent at least some time considering this question. So let’s take a look!
What Is The Average Cost Of 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.
How Can I Reduce Renters Insurance Costs?
Make sure you have appropriate levels of coverage. The policy only pays for personal property that suffers a loss. If you have $30,000 of stuff and a $50,000 limit on your policy, you will not get a check for the full policy limit. The policy limit is the most it would pay in the event there were a loss of that size.
You can reduce renters insurance costs by not overinsuring, and also by avoiding underinsuring. Underinsuring is a false economy, because you’d get less than your stuff is worth.
You can reduce renters insurance costs by raising your deductible, but the amount of money saved is insignificant. If you save fifteen dollars a year by going to a $1,000 deductible, it would take you decades to make up the money you have to pay after a loss for the larger deductible.
You can reduce renters insurance by comparison shopping, but not in the way that you think. Work with a company like Effective Coverage, who can compare the options and offer you the least expensive way to get the coverage you need.
When you get an online renters insurance quote, our system is still comparing prices in the background and offering you the best option for your situation, your location, and your coverage.
Should I Shop Around To Reduce Renters Insurance Costs?
Surprisingly, no. While Effective Coverage allows you to quote and buy a renters insurance policy online in about sixty seconds, most companies do not offer anything near that. You’ll spend ten to fifteen minutes at minimum per quote. You’ll get a ton of email from them afterwards. You’ll have to sit down and compare price and coverage between the offers. Then you have to go back and buy the one that’s the cheapest.
If you try to reduce renters insurance costs by quoting all available underwriters, you’ll spend multiple hours doing this. In reality, the savings might only amount to a few dollars a year. Your time, whether work or leisure, is more valuable than this. In other words, if you quote every company to save a few bucks, you’ve ended up costing yourself more money while shopping for your Kansas Renters Insurance.
There’s a better way. Let the insurance experts for renters do the shopping for you automatically. We’ll show you the best quote for the coverage you have in mind, and help you to make sure you’re meeting the requirements of the landlord. That means you don’t have to call or go online a second time to fix something, and time is money, after all!
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.
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 Kansas Guide To Renters Insurance.
- Just Want To Watch A Movie Together? See our Video Kansas Renters Insurance Guide!