The Link Between Renter’s Insurance and Auto Insurance
As you research and shop for renter’s insurance, your top priority is to find the best coverage at the most affordable rate available. Finding the best policy at a good value can be a challenge, but the good news is that you have some control over reducing premiums. Review the Cheap Renter’s Insurance section for tips on saving money, including:
- Purchasing only what you need so that your premium is as low as possible.
- Raising your deductible to decrease your monthly premium.
- Reviewing your policy annually and making revisions and adjustments to lower your rate.
- Receiving additional discounts if you meet any of these requirements: additional safety precautions installed (home alarm, smoke detectors), age 55 and retired, a non smoker, policy for several years, or a roommate that also has renter’s insurance.
One area for savings is a discount for multiple policies with the same insurer (or “multi-policy discount”). If you can, consider using the same company for both your auto and renter’s insurance polices and you will receive a discount on your premium. Typically the reduction is between 5% and 20% when you carry two or more policies with a company. You’ll also benefit from the convenience of having both policies with the same insurer.
The best advice for securing an affordable renter’s insurance policy is to carefully research and compare rates. Additionally, research each company’s customer service and ability to effectively handle claims. In the event of damage or theft, you want to be assured that you can easily work with the company and receive the claim reimbursement that’s due to you.
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