There are many insurance companies now offering renters insurance policies that hadn't previously.
This is good news for the consumer who is interested in opening a new policy because the added competition has helped to lower rates.
However, to get the best renters insurance rates possible, one still needs to take a few steps prior to applying for the policy.
Below is a list of the things you should do before you apply for new renters coverage.
1) Comparison shop.
There are a lot of insurance directories online that make it very easy to research the different rates and policy options out there.
You can fill out one form, the directory will send your specific information out to various companies and you will then be able to pick and choose which policy works best for you.
2) Improve your credit rating.
Your personal credit score will actually go a long way in helping to reduce your rates.
Insurance companies like to insure people with good credit scores because it shows them responsibility and maturity.
3) Secure your place.
Is the place that you are renting safe? Have you or your landlord taken precautions to ensure that the chances of it getting broken into or damaged are minimal? If you can prove to the insurance company that the place is as safe as it could be, your rates will be very low.
4) Determine your deductible amount ahead of time.
Choose the highest deductible amount they have.
The chance of a claim being made will be minimal if you take the necessary steps to protect your place.