Is it easy to get renter's insurance?

Smaller, more rural states, such as New Hampshire, Utah and Wyoming, are among the cheapest for renters insurance, although New York ranks fourth on the list. If you are considering renters insurance, whether you are required to have it or not, you are probably wondering how long it takes to get it. Before you choose where to buy renters insurance, you should make sure you are getting the best price for your insurance needs by increasing or decreasing your coverage limits and adjusting your deductible. When deciding where to buy renters insurance, use the national average as a benchmark as you collect quotes from different insurance companies; however, you should also remember the role that risks in your area, such as weather and crime, play in the prices you are quoted.

Too many renters think they don't need liability protection because they rarely have guests or believe that the likelihood of someone being injured in their home is almost non-existent. In most cases, getting renters insurance does not take much time, especially if you choose to buy a policy online. You can also buy renters insurance whenever you want, as long as you are not willing to connect directly with an agent. You can get renters insurance from a variety of companies, from large providers like State Farm, Erie and Allstate, to smaller online-only insurers like Lemonade.

However, even if a renter has no personal property, the other features of the coverage make renters insurance worthwhile. In the event that your flat or home is deemed uninhabitable due to a covered event, smoke damage, for example, you would be stuck paying out-of-pocket for any expenses that exceed your typical spending levels if you did not have renters insurance. There is no legal requirement to purchase renters insurance, but some landlords will require you to purchase a policy. You can easily buy renters insurance online or by talking to an agent, in part because of the growing number of reliable insurance companies in the industry.

Anyone living in a college dorm is probably covered by their parents' homeowners or renters insurance policy. Although more and more landlords and building management companies are requiring tenants to carry renters' insurance, most people are not required to purchase it and choose to forego buying a policy. Beyond the obvious coverages and benefits of renters' insurance, there are some lesser-known advantages that may convince renters that it is a valuable purchase.

Judy Billeter
Judy Billeter

Friendly tv geek. Lifelong beer scholar. Friendly coffee buff. Typical social media lover. Lifelong social media fanatic. Amateur bacon guru.

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