How Much is Edmonton Renters Insurance

If you’re a renter in Edmonton, you may wonder how much renters insurance costs. Renters insurance provides protection for your personal belongings and liability coverage in case of unexpected events. APOLLO makes it easy to get insurance with our effortless online platform, with quotes starting at just $11/month. Although renters insurance is not a legal requirement in Alberta, it is highly recommended as it can save you from significant financial hardship in the future. So, how much can you expect to pay for renters insurance in Edmonton?

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Factors that Affect Your Renters Insurance Cost

Several factors determine the cost of renters insurance in Edmonton. These factors include:

Location:

The location of your rental property can impact your renters insurance rates. If you live in an area with a high crime rate, you may pay higher premiums due to the increased risk of theft.

Coverage Needs:

The amount of coverage you need can impact your renters insurance costs. If you have expensive electronics, jewelry, or other valuable items, you may require more coverage, leading to higher premiums.

Insurance Company:

Different insurance providers offer varying rates and discounts, which can affect your premiums.

Deductible:

Choosing a higher deductible can lower your insurance premium, but it also means you are responsible for covering more of the cost in the event of a claim.

Safety Measures:

Insurance companies may offer discounts for renters who install safety features such as smoke detectors, fire alarms, or burglar alarms.

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Renters Insurance Costs in Edmonton

On average, renters insurance costs around $25 to $30 per month in Edmonton. However, this cost can vary depending on the factors mentioned above, including your location, coverage needs, and insurance provider. Generally, renters who choose higher coverage limits and lower deductibles will pay higher premiums. Furthermore, renters who live in areas with higher crime rates will likely pay higher rates.

Saving Money on Renters Insurance

If you’re looking to lower your renters insurance premium, consider the following tips:

Bundle your policies

If you have other insurance policies (such as auto or life insurance), bundling them with your renters insurance can lead to discounts on your premiums.

Opt for a higher deductible

Choosing a higher deductible can lower your renters insurance premium. But ensure you can afford to pay the deductible amount out of pocket in the event of a claim.

Improve home safety

Installing safety features in your rental property can make it safer and qualify you for discounts on your renters insurance. Consider adding smoke detectors, fire extinguishers, or an alarm system.

Shop around for quotes

It’s always wise to compare quotes from various insurance providers to find the best rates.

APOLLO is Canada’s leading provider of tenant insurance, designed specifically for renters and customizable to your lifestyle. Get your free quote in less than a minute and we’ll send your policy documents right to your inbox.

Get a quote in less than a minute

Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

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