The good news about the cost of renters insurance is that it’s extremely affordable. On average, renters insurance only costs about $14 per month which comes to $168 per year. If you prefer to pay for a year at one time, you could be eligible for a slight discount. You may also be able to bundle your insurance with other policies like your car insurance if you choose to go with the same company.
When it comes to having peace of mind, $14 per month is worth every penny. Whether it’s a break-in, a flooded apartment due to burst pipes, or even vandalism, renters insurance is an affordable way to make sure you’re covered.
Keep in mind that $14 per month is just an average and that your rate might be different. Rates can vary depending on the state you live in, how high your deductible is, and how much coverage you have. Shop several insurance companies to ensure you’re getting the best rate possible.
Your credit score may play a role in how much you pay for renters insurance. Obtain a copy of your credit report and check your score before you apply to make sure you’re getting a good rate based on your credit standing.
Another factor that can affect your rate is the value of your belongings. The more stuff you have or the more valuable it is, the more coverage you’ll need, which may also make your rate slightly higher.
Learn more about Renters Insurance and how Guided Solutions can help you find the best policy at the best rate. Or, if you’re ready to move forward, get a free quote today and secure your policy within minutes.