logo logo

4 Steps to the Cheapest Renters Insurance

ri-5Getting the cheapest renters insurance is very easy as long as you know where to look and what to look for. Most renters think since the place they live in they don’t own it is less expensive and easier not to get any insurance at all.

But going without renters insurance is one of the biggest risks tenants can take, despite the quality of the neighborhood. Shopping for insurance can be a hassle, but here are 4 steps to finding the cheapest renters insurance available.

Renters Insurance - Less Than $1 A Day

Step 1 – Everyone Should Know About Renter’s Insurance

A renter’s insurance policy is different from homeowners insurance. It covers your personal belongings and offers liability protection that you might encounter if someone gets injured in your rented place. When accidents take place in your rented home, the structure is covered by your landlord’s insurance policy but your personal belongings are not. Getting insurance assures you that whatever happens, you will still be compensated for damages or losses. This type of insurance also covers expenses in case your rented home becomes unsuitable to live in due to accidents or damages. There are a lot of myths about landlords and Insurances

Step 2 – Know What To Insure

When buying a renter’s insurance policy, companies evaluate the cost of your insurance based on a general calculation of the value of your belongings. This means you can choose what items to insure and focus on the main things. There are items that also have special dollar limits. These are typically high priced items like jewelry and expensive watches. Including them in your insurance policy is acceptable, but it is best to get another insurance policy on these items if they are really expensive.

Step 3 – Get Quotes

Once you have listed all your items for coverage, ask for a good number of insurance companies to send you quotes based on your list. Remember that your insurance company should also offer liability protection. The easiest way to get quotes is by browsing insurance company websites. Since you want to get the cheapest policy possible, be sure to check with more than five companies in your area.

Step 4 – Get Professional Help

If you’re still unsure how to proceed applying for an insurance policy, you can always get help from third party companies that can help you in getting your insurance quotes and find you the best policy available. Feel free to spend some time on Wise Insurance Quotes to find the answers to questions you may have and contact as many companies as you like to obtain insurance quotes on all sorts of coverage.