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Home How to Buy Renter's Insurance Using renters insurance quotes to get the best price

Using renters insurance quotes to get the best price

According to the Bureau of Justice Crime Characteristics renters had more crime both on their property and from their cars than homeowners. Renters insurance can cover theft from both inside the car and inside the home. Renters need their own insurance policy because their landlord's insurance will not cover the renter's personal items, but less than 40% of renters have their own coverage. For the remaining 2/3 of uninsured renters, the market for renters insurance is open and available. Just as with other forms of insurance, there are hundreds of agents willing to sell policies, but how can a renter find the best deal for his budget and coverage needs?

The Internet has several pitfalls, but among the dangers, the information found online can be used to help the renter to compare prices for renters insurance quotes between various companies, but these price comparisons should only be used as a baseline. Discussing the found renters insurance quotes with an actual agent can open the possibility for factoring in other discounts which might not be readily available for comparison online. Some of these money saving factors include: having another insurance policy – such as life or automobile – with the same company, having a security alarm, owning fire alarms and fire extinguishers, even living in an area with a statistically low crime rate might allow an agent to offer lower renters insurance quotes than those from Internet policy comparison sites.

Looking at attributes around the rental property to lower the cost is just one way to save money. The renters insurance quotes are just estimates and they might not reflect the final cost paid. Monthly premiums can be reduced by raising the deductible. This is the amount that the renter must pay toward any repair or replacement costs before the insurance company will begin its compensation. No deductible or a very low one will increase the monthly premium amount.

Choosing the most basic coverage will still protect the renter's possessions from the most commonly seen mishaps: fire, theft, lightening, etc. This is the cheapest route, and the most popular. Often, it will be all that the renter will require. Renters insurance quotes found online for any level of coverage, need to be carefully examined, since the rates and coverage required by each state differs. Local insurance agents can also provide renters insurance quotes that are more closely tailored to the state's insurance regulations than national websites can. Many states also forbid their residents from purchasing from these online sites, forcing the renter to visit his local agent's office, anyway.

Renters insurance quotes found on the Internet can be used for comparison purposes, but they should not be considered the final cost. Discussing these quotes with a local agent can ensure that the renter gets the best possible renters insurance quotes geared toward his personal needs and the requirements of his state.