How to Get a Cheap Tenant Insurance Estimate

Tenant insurance is crucial for protecting your belongings and liabilities while renting a property. However, finding an affordable tenant insurance policy can be challenging. In this article, we’ll explore how to obtain a cheap tenant insurance estimate.

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1. Assess Your Coverage Needs

Before requesting a tenant insurance estimate, assess your coverage needs. Identify the value of your belongings, including high-priced items such as jewelry or electronics. Determine what types of risks you are most concerned about, such as fire, theft, or water damage. By understanding your specific coverage needs, you can better budget for insurance premiums.

2. Shop Around for Quotes

To obtain the cheapest tenant insurance estimate, research several insurance providers. Compare quotes from different companies to identify the best rates for your specific needs. Consider companies that specialize in tenant insurance and don’t be afraid to negotiate. Ask for potential discounts or bundling options to help reduce your premiums.

3. Opt for a Higher Deductible

A higher deductible is an effective way to lower your tenant insurance’s monthly or annual premiums. Before selecting a deductible amount, ensure that you can comfortably afford to pay it in the event of a claim. Establishing a higher deductible can significantly reduce your insurance costs over the long term.

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4. Consider Available Discounts

Many insurance providers offer discounts on tenant insurance policies. Consider available discounts such as bundling policies, installing security systems, or having a good credit score. These discounts can help reduce the cost of your tenant insurance premiums.

5. Review and Update Your Policy Regularly

Once you’ve secured tenant insurance, review and update your policy regularly. Revisit your coverage needs, assess changes in your belongings, and contact your provider to discuss potential discounts or adjustments that can help keep your premiums low.

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.

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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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Originally published August 24, 2023, updated August 9, 2024

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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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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.

Get a free quote

4.7 rating