How to lower your renters insurance
Renters insurance is already cheap, but a few moves can make it even cheaper while keeping you protected.
Key takeaways
- Bundling renters with auto is usually the biggest saver.
- Right-size coverage to your belongings — don't over- or under-insure.
- Ask about safety-device discounts and compare a few quotes.
Renters insurance is one of the best-value protections you can buy — it covers your belongings and liability for a low monthly cost. Even so, you can trim the price with a few simple steps.
Ways to lower your renters premium:
- Bundle it with your car insurance for a multi-policy discount
- Raise your deductible if you have some savings
- Right-size your coverage to what your belongings are actually worth
- Ask about discounts for smoke detectors, deadbolts, or a security system
- Pay annually or set up autopay for a small discount
- Shop and compare a few quotes, since prices vary
Be careful not to underinsure just to save a few dollars. Do a quick inventory of your belongings so your coverage amount is realistic — if everything were lost in a fire or theft, you want enough to replace it.
Because renters insurance is inexpensive, the biggest savings usually come from bundling it with auto. If you have both, ask each insurer what the combined price would be — it often lowers your car insurance too.
What this is
Why it matters
What you can do next
Related FAQs
Common questions about this topic, answered simply.
How can I lower renters insurance the most?
Bundling it with your car insurance is usually the biggest saver, and it often reduces your auto premium too. After that, a higher deductible and safety-device discounts help.
How much coverage do I need?
Enough to replace your belongings if they were all lost. Do a quick room-by-room inventory to estimate the value, and make sure your liability coverage is adequate. Right-sizing avoids both overpaying and being underinsured.
Keep reading
Bundling insurance policies: when it saves
Bundling your policies with one insurer usually earns a discount — but it's worth checking that the bundled price really beats buying separately.
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Read Insurance basicsHow to lower your homeowners insurance
Homeowners insurance is a big annual bill, so trimming it can free up real money — without leaving your home underprotected.
Read Insurance basicsCar insurance for young and teen drivers
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