How Does Renters Insurance Work?
Your personal possessions turn the space you rent into a place that’s uniquely yours, and we think that’s worth protecting. As a renter, you may think you don’t have that many valuables, but if you start to count the cost of your belongings — from your TV, laptop, camera, clothes, furniture, etc. — the number adds up.
Think about this:
- Your neighbor forgot to blow out a candle…
- Someone broke in and stole your TV…
- A friend gets hurt at your get together…
- Your laptop is stolen while you’re working at a coffee shop…
Unfortunately, you’d be responsible for paying out of pocket for scenarios such as these.
The good news? You can be proactive about financially protecting yourself from the unexpected. Renters insurance is an easy and affordable way to protect your personal property, provide liability coverage and even has your back on the go.
Let’s take a look at everything you need to know about renters insurance.
How Much Is Renters Insurance?
Not as much as you think.
There are a number of factors that go into the cost of your coverage, so the price for renters insurance is going to be different for everyone — but a typical premium for renters insurance is usually less than the price of one dinner out with friends. The estimate of your possessions, your location and added on coverage are a few things taken into consideration when calculating the cost of renters insurance.
Looking to save more money? You can also bundle your renters insurance with other policies — such as your car insurance coverage. Check out our discounts for streamlining your coverage with an auto and renters bundle.
How Much Renters Insurance Do I Need?
Take a look at how much stuff you own. Typically, to see how much coverage you need, you’ll add up all of your belongings in your apartment and use that as an estimate to start.
You’ll want to make sure your coverage limit is enough to help cover the cost to replace your belongings should the unexpected happen. An agent will help factor in how your location affects the cost and also any added coverage you might want, like identity theft protection.