You live in a rented apartment. So why do you need insurance for your home? You need it for several reasons. I’ll outline them here and also show you how to get the best price/value. In simple terms: I’ll show you how to get the lowest price for the best home renters insurance policy.
First, let’s talk about why you need home renters insurance. You need it to cover your personal properties in the rented apartment. The house owner’s insurance does not cover your personal effects if they are lost to fire, theft or vandalism.
This policy also pays for a temporary accommodation if your present home becomes unlivable due to fire, natural disasters or vandalism.
Now that you know why you need it, here are ways you can save money on your premium…
1) Do all within your power to rent an apartment in a low crime neighborhood. The higher the crime rate in your neighborhood, the higher the likelihood of loss of personal effects due to theft. This will impact your premium adversely.
2) If possible, get an apartment that’s close to a police and/or fire station. These also reduce the likelihood of loss due to theft, vandalism or fire. Anything that reduces these lowers your home renters insurance premium.
3) Visit as many home insurance quotes sites as you can. I recommend at least three. Get and compare quotes from these (Each quotes site will take you a maximum of 5 minutes). You’ll be surprised at how much you’ll save on your home renters insurance.