questions about rental insurance

[Fashionista]

Aprox. how much does it cost?
Is it based on credit?
Where do you go to get it?
Do you pay every month or bimonthly?
What are some good compaines (decent rates, good policies, etc) to use?


thank you

[SpaceMonkey]

1. I pay $150 per year for $30,000 of coverage.

2. I think there was a credit check involved, but I'm not sure how much my rate was dependant on it.

3. I got mine online through Geico. The actual policy is from Travelers.

4. I paid the full $150 up front.

[Chameleon]

I think my renter's insurance cost about $240-$300, my apartment complex recommended them. I can't remember how much it covered (20,000? 30,000?), it was with Assurant. I paid once a month, but I think you could set a schedule with them.

[pisces2473]

I pay around $250/yr, but pay half every 6 months. I don't know what my coverage is...$30,000 I think? I also have a separate policy for my engagement ring and that's $43/yr. All of my property insurance (renters, ring, car) is through Nationwide.

[mishl982]

I did one payment of something around $150 for a year and that covers $30,000 I think. I just called up AAA and they picked the best option for me based on what kind of place I lived in. Luckily I got coverage from the same place I get auto insurance so I got a discount as well.

One thing I did learn when I asked the AAA lady about renters' insurance is that it only covers you and your blood relatives or spouse. It does not cover roommates. So my roommates are on their own.

[pisces2473]

Oh, the reason mine is so high right now, is because I live in an OLD OLD house. When I move, hopefully it'll be cheaper.

[sundaycomics]

We have $10K worth and it costs about $70/year, which we pay all at once. It's through Nationwide and I found it online.

[MollyMe]

I have 35K and it is about $200 a year. I pay it once a year. I also get a $110/year discount on my auto insurance because it is with the same company (State Farm) so it is really cheap.
I had the same coverage with the same company in another state for an similar apartment and it was less than $100 without including the auto discount.

[beeblebrox]

I'm not sure of the coverage, but it was $150 upfront. Mine's through State Farm but may switch it to Citibank which is now offering it next year. If you're considering it, get it. It's incredibly wise to get it in case of burglary, etc.

[SmilesSoSweet]

I pay $21/month.

I think mine was based on apartment size and how much my belongings are worth (my insurance agent asked me a few questions of what I owned and how much these things are worth, etc. Even if it's a used couch, it'll still be worth X amount because it's a couch. My agent didn't care if I actually bought it.) Oh and supposedly my stuff is worth over $35k.

I got mine through my car insurance - State Farm. So I pay one bill with car, rental and life insurance every month. (I could probably pay my insurance bill either bi-yearly or yearly, but I prefer to pay it every month. I wouldn't be saving any money if I paid in full for the year.)

I got renter's insurance right when I moved into my first place out of college. I mainly got it because I had a roommate and wanted to make sure my belongings were insured. Not saying that my roommate or her friends would steal my stuff, but she used to leave candles lit when she'd live the apartment, so that was a huge sign that I knew I was getting my money's worth in rental insurance.

Also if you do have roommates, your insurance only covers your stuff. So say your apartment gets water damage, fire damage or robbed, you'll be able to use your insurance policy for only your things. If your roommate doesn't have insurance he/she is S.O.L.

[Trillian42]

If you get your car insurance and renter's insurance through the same company, often times there's a multi-policy discount. I know State Farm has that kind of discount.

[Ciderhillnh]

I pay $15 a month and its joint on my parents policy to cover my condo. The coverage is for $100,000K.....I have a seperate policy for my actual housing. THe $15 per month just covers the contents of my house not the house itself.

The policy I have on my home covers $300,000K

[Fashionista]

I pay $21/month.


I got renter's insurance right when I moved into my first place out of college. I mainly got it because I had a roommate and wanted to make sure my belongings were insured. Not saying that my roommate or her friends would steal my stuff, but she used to leave candles lit when she'd live the apartment, so that was a huge sign that I knew I was getting my money's worth in rental insurance.

Also if you do have roommates, your insurance only covers your stuff. So say your apartment gets water damage, fire damage or robbed, you'll be able to use your insurance policy for only your things. If your roommate doesn't have insurance he/she is S.O.L.

since you brought this up i wanted to ask you-if your roommate steals your stuff does the insurance still cover that?


anyway i went on geico's website and got my insurance through travellers for $143 and it covers $20,000 with a $500 deductable. not badly price and pretty painless to get. it took under 15mins to get.

i have to wait for the paperwork in the mail but i was wondering what i should expect? do i need to take pics of my stuff? keep a log of what i own?

[SmilesSoSweet]

since you brought this up i wanted to ask you-if your roommate steals your stuff does the insurance still cover that?

anyway i went on geico's website and got my insurance through travellers for $143 and it covers $20,000 with a $500 deductable. not badly price and pretty painless to get. it took under 15mins to get.

i have to wait for the paperwork in the mail but i was wondering what i should expect? do i need to take pics of my stuff? keep a log of what i own?

I'm not sure what happens if your roommate steals any of your things. You may want to ask your agent about that. As for keeping track of your belongings, when I got my renter's insurance, I met with an agent in person. (I met with him when I moved from CA to AZ to transfer all my insurance policies - renter's, car, and life - to a local State Farm agent.) He basically had a list of items that he read through and asked if I had any of them. When I told him what I had, he then asked how much I thought it was worth.

For example, he asked if I had a computer. I told him that I have a desktop computer. Even though I only paid $500 for it, if you include all the software on the computer it's worth well over $2k (Adobe programs, AutoCAD, etc.)

My overall coverage for all of my belongs was around $35k. I even joked with my agent that I think $35k is probably more than everything I own (including my car!). He said that it's typical to have your insurance cover more than what your stuff is really worth because if you had to buy everything new again after a fire or burglary, it would costs a lot of money.

Also my renter's insurance covers my car if my car happens to be broken into or stolen while it's on the rental property. I still do have my car insurance, but I can also use my renter's insurance to cover expenses if that should ever happen.

[MetFanL]

Yeah, my agent took my list of belongings and added it up -- I tihnk I have $50K worth of coverage w/ an extra rider for my jewelry. I have it with the same place as my car insurance, so I get a discount. I pay about $110 a year.