Need insurance? Factors influencing your renters insurance rate
Shocker: you and your neighbor are paying different rates for renters insurance. You both live on the same side of town, in the same community, in the same sized unit. What gives?
There are quite a few factors that determine your renters insurance rate.
Sky-high renters can enjoy excellent city views but those views come with a price, in more ways than one. In addition to higher price tags, renters insurance for high-rise communities often costs more.
What are you insuring?
How you’ve chosen to spend your money in the past will be a determining factor in how much coverage you request. If you’re a first time renter with hand-me-down furniture and secondhand clothing, you probably won’t need to spend much on coverage because it won’t cost much to replace those things. If you’re a renter who has invested oodles of money into your furniture sets, electronics, and clothing then you’ll want more coverage to help replace the costs of those items in an emergency.
What’s your insurance history?