Renters Insurance - Get A Free Quote Online Today (2024)

FAQs

What is the cheapest renters insurance? ›

Yes, nearly every major insurer offers a way to get quotes for car insurance online, though some require you to contact an agent before you can finalize your purchase. However, many companies allow you to complete the entire process on the internet, from quote to purchase.

Renters insurance is relatively inexpensive. According to NerdWallet, the average renters policy costs about $15 per month for up to $30,000 in personal property coverage. That's solid coverage for less than the cost of a few cups of coffee a week.

A soft inquiry is not generally tied to an application for credit, so it has no effect on your credit scores (although it will remain on your credit report for up to two years).

Lemonade offers cheap rates for basic home, renters, car and pet insurance. However, customer service can be inconsistent. Lemonade is an excellent choice for people looking for basic coverage at affordable rates.

Online car insurance policies are generally cheaper than those offered by insurance agents as these don't include commissions and other fees. Most auto insurance companies also offer discounts if you purchase car insurance online. However, using an agent has its share of benefits.

It is true that insurance companies check your credit score when giving you a quote. However, what they're doing is called a 'soft pull' — a type of inquiry that won't affect your credit score.

Renters insurance typically covers fire, windstorms, lightning, explosions, theft, and vandalism. Your personal property, personal liability, additional living expenses, and guest medical expenses are usually covered under your renters insurance.

What is a good deductible for renters insurance? ›

Typically, renters insurance deductibles are $500 or $1,000, but companies often provide a range of options. State Farm has deductibles of up to $2,000, while Lemonade offers a specialized renters insurance policy with a $0 deductible.

Insurance is all about risk, so customers that live in areas with higher risks of claims usually have to pay more for coverage. Some location-based factors that impact renters insurance rates can include: The rate of crimes, especially theft, in your ZIP code.

Landlords generally prefer a minimum credit score of at least “good,” which is 670 to 739. A score at or above that range will make apartment applications easier. Still, even a “fair” (580 to 669) or “poor” (300 to 579) score won't necessarily put the kibosh on your rental hopes.

Landlords may typically look for tenants with at least a fair or good credit score. Landlords may also use tenant screening reports, with information like rental history and employment verification, to make rental decisions.

Renters insurance coverage is almost always worth it. It is much more affordable than other policies, including home or auto insurance, and provides valuable financial protection. Even if you can save enough money to cover unexpected loss, renters insurance may be worthwhile.

Renters insurance isn't required by law in California, but it's often worth buying — especially if you live in an area at risk for wildfires. While your landlord will insure the building you live in, it's up to you to cover your own belongings. The average cost of renters insurance in California is $182 per year.