Keeping Your Premium Low for Renters Insurance Policy
Just like any other type of homeowners insurance policy, your premium depends on a number of factors: where you live, your deductible, your insurance company, and whether you need any additional coverage.
There are ways to reduce your renters or condo owners insurance bill.
Increasing your deductible (the amount you pay before your coverage kicks in) is one strategy. Make sure you can afford whatever deductible you choose.
If you're thinking about getting a dog, you might want to think twice. Some insurance companies are reluctant to write policies for owners of certain breeds.
Most insurers offer a discount for "protective devices," including smoke and fire detectors, burglar alarms, and fire extinguishers.
Some insurers might offer discounts to policyholders who are over age 55 and retired. Others might offer a discount if you buy both an auto and renters policy (called a multi-line discount).
