Unfortunately, only 40% of tenants have saved up on renters’ insurance. You need renters insurance in the event your rental abode suffers water damage, theft, or fire. Let us check out some tips on how to save money for renters’ insurance.
#1. Understand the Valuations for Renter’s Insurance
Often, the insurance company’s offer different rates when it comes to the valuation of house items. Shop around to learn about the actual cash value and the replacement value.
#2. Make Annual Payments in Advance
To avoid extra charges that come with monthly budgets, make advanced annual payments. If you need to stop the policy, your insurance company will make a refund of the remaining part of the cover.
#3. Choose Groups Eligible for Savings
Some insurance companies provide discounts to members of particular professional groups. Being part of such groups will help you save up for renters insurance.
#4. Work on Your Credit Score
It is crucial to know that insurance companies check out your credit score to know how they will charge you when it comes to renters insurance. Ensure to work on your credit score if it’s not as pretty.
#5. Settle for Safety Insurance
It is necessary to play safe even as you go house hunting. Settle for a place that has smoke detectors, fire extinguishers, deadbolts, security alarm, and smoke detectors. The availability of these features will see you attract a good discount on the renters’ insurance. If your rental has none or some of these features, you can engage your landlord about installing them. Inform them that this will help save on the insurance cost.
Renters insurance offers a shoulder to lean on in case an unfortunate scenario happens. That will give you peace of mind and allow you to carry on with your day to day activities.
If you would to like to discuss your options for renters insurance please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.