Are you thinking about purchasing renter's insurance? Good idea. As you are probably aware, renter's insurance costs less than $1 per day and it can add a great deal of protection for you in the event of property damage or even liability. Whether you are living in apartment complex, duplex or home - renter's insurance is always a good idea.

Before you sign on the dotted line, make sure you have taken the necessary steps to get the best deal. This can be done by comparing multiple renter's insurance offers based on protection levels and their overall cost. To get started with the process, enter your zip code above.

A renters insurance quote simply refers to the rate or amount of premium you might be assessed by an insurer or agent to insure your personal possessions through an insurance company.

A renters insurance quote is for a renters insurance policy which covers your personal possessions in any premise you rent or lease up to a specified policy limit. Another important feature contained within a renters policy is the liability coverage should someone incur an injury to their person or property as a result of having occurred on your premises.

The quote is also subject to other restrictions and limitations that are described in the policy and vary from insurer to insurer.

A renters quote can be for either market value where any item you are being reimbursed for in the event of loss but are subject to depreciation. The other type of policy is for replacement cost which will provide you with reimbursement to replace something at current value.

The quote may be higher if you choose to purchase additional riders to complement you coverage for specialty items such art or collectibles, or increasing your liability coverage, or purchasing additional coverage such as flood or earthquake insurance.

The factors that can impact your renters insurance quote will largely be based on the following factors such as:

• The amount of coverage you select to cover your possessions
• Whether you are seeking a policy that reimburses you based on market value or replacement cost
• The amount of deductible you select which is what you will have to financially incur first, as the insurance covers anything above and beyond this amount. A general rule is that a higher deductible will lower your quote while a smaller deductible will increase the quote
• Whether you opt for additional riders to increase your coverage
• The state, city and location of the residence you are renting

Quotes may vary slightly from state but will be more readily impacted by the area, city or town in which you reside in that particular state.

The demographic factors that might impact your renters quote will largely be premised on the extent of the crime rate in the locale in which you are renting. Renters in large urban areas tend to be assessed slightly more than those who reside in smaller suburban or rural areas.

Also, seniors and families are also generally considered less of a risk to insure and this may also have a bearing on the renters quote you are provided. Your claims history may also be taken into account. Your quote may also be impacted on the area of town in which you reside as people who rent in high crime areas tend to be assessed a higher quote than those that reside in low crime areas.

Some of that factors that might increase the amount you are being quoted as higher would include following:

• The amount of the insurance coverage limit you are seeking,
• The amount of the deductible you select,
• The area or location where your rental or leased property is situated,
• The type of coverage you select such as replacement cost versus market value, and
• Whether you choose to increase your liability coverage or opt for additional insurance riders such as flood insurance or to cover specialty items.