You will find renters insurance to be very inexpensive. With most companies renter insurance covering approximately $5,000 to $10,000 in personal contents and $300,000 in personal liability to be approximately $150 to $300 dollars a year which is equivalent to about $12.50 to $25 dollars a month. Depending on the carrier this could vary.
By writing a renters policy not only are you getting coverage for your personal belongings but you are also getting personal liability coverage. Some companies also include additional coverage such as host liquor liability, which you would need to rent halls for events like a wedding or a birthday. You may also be able to schedule things such as your cell phone which may or may not be cheaper then purchasing the coverage from your cell phone carrier.
You will find that if you purchase your renters policy through the same carrier as your auto insurance that the discount you receive on your auto insurance will more than pay for your renters policy. Multi-policy discounts with some companies can range from 5%-20% or possibly more, which can save you hundreds on your auto insurance. So be sure to talk to your insurance agent about writing a renters policy and what discounts are available.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
We have renter's insurance policies with an annual premium that is below $100. Policies range higher depending upon where the building is located and what value the owner places on the personal property located in the building. There is also a selection of liability limits which affects the price. The point is simple, though; the policy assumes a risk that you cannot handle for a premium that you can handle. If you haven’t met with an agent and discussed your personal situation, please do so at your earliest opportunity.
Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
Good Question. Renters policies in NY will run about $225/yr with $25,000 in Personal Property Coverage and $500,000 of liability. The majority of the rate comes from Personal Property Coverage (your stuff). If you increase the amount of personal property coverage to $100,000 you could see rates from $500-$600 per year. Of course the rates will depend upon prior loss history, location of property and sometimes your credit score.
.JPG){kind=avatar}
By writing a renters policy not only are you getting coverage for your personal belongings but you are also getting personal liability coverage. Some companies also include additional coverage such as host liquor liability, which you would need to rent halls for events like a wedding or a birthday. You may also be able to schedule things such as your cell phone which may or may not be cheaper then purchasing the coverage from your cell phone carrier.
You will find that if you purchase your renters policy through the same carrier as your auto insurance that the discount you receive on your auto insurance will more than pay for your renters policy. Multi-policy discounts with some companies can range from 5%-20% or possibly more, which can save you hundreds on your auto insurance. So be sure to talk to your insurance agent about writing a renters policy and what discounts are available.