FREE Renters Insurance IS Possible, Where’s Your Car?

FREE renters insurance is out there if you have a car & insure it. If free renters insurance isn’t possible, affordable renters insurance is.

See below for how & where to find free or affordable renters insurance when you are already insuring your vehicle…

Bundle Policies, Save, & Be Protected

Bundling insurance policies is one of the easiest ways to both save money & be protected if/when something sudden & accidental happens inside your residence.

Are you already insuring your vehicle? The agent that sold you that policy is the best place to start when seeking out renters insurance. It is very common for insurance companies to provide discounts when insureds purchase multiple policies.

Compare Insurance Bundles & Save

If you don’t already have a mutually beneficial relationship with your current insurance agent, there is no reason not to consider bundled policy quotes from at least 1 or 2 other agents. Be open to considering quotes from both Captive Agents & Independent Agents.

For those who have a great credit score & a clean record, a Captive Agent can be a great & simplistic solution. Examples of insurance companies that have Captive Agents are American Family & Farmers Insurance.

For those that have more complex situations that may include a sub-par credit score, a poor driving record, & or other items to insure in addition to their residence & vehicle such as a boat, motorcycle, or snowmobile — an Independent Agent can be a better solution over a Captive Agent.

Captive Insurance Agents vs Independent Insurance Agents, The Difference

Captive Agents sell for just one insurance company. Again, American Family & Farmers Insurance are great examples of Captive Agents. It’s hard to drive anywhere without seeing one of these local offices open & ready to serve.

Independent Agents sell for multiple insurance companies. This means that these agents can provide a consultative approach to accommodating their client’s insurance needs. Independent Agents can provide quotes from multiple carriers to end up with the best price & coverage for each insured’s unique needs. It’s possible that an Independent Agent can provide a bundle that involves two or more carriers & that bundle couple be more cost-effective yet includes the same coverage as a Captive Agent.

Again, each insured’s credit score & driving record contribute to the rates that can be provided to them. Seeking out 2-3 quotes is recommended to best prepare & protect each insured for if/when something sudden & accidental occurs.

Renters Insurance: What’s Covered & Why

Personal Property

Renters insurance typically covers personal property that belongs to you inside your residence. Think if you were able to tip your residence upside down. Everything that landed would typically be covered by a renters insurance policy which the named insured owns inside the property.

It’s somewhat common for renters to not realize how much it would cost to replace all of their personal property if something sudden & accidental happened in their residence. Young renters may have acquired things from family & friends to help get them started. Renters like homeowners across their board pride themselves on finding deals on the goods they purchase for themselves & keep inside their residences.

Again, renters insurance is to protect renters if/when something sudden & accidental happens whether that be fire, flood, or something else sudden & traumatic. If/when this happens, there are no means to replace items acquired from others long ago, especially on short notice. Also, for the sale shoppers, it’s almost impossible that personal property purchased previously will be able to be purchased again on a moment’s notice, let alone at the same price.

When requesting renters insurance quotes, the agent will ask for an estimated replacement value of the personal property if it had to be replaced today, not what the personal property was purchased for. Renters insurance is provided to get renters back to pre-loss condition, before whatever sudden & accidental happened.

Liability Protection

It’s very common for renters insurance to provide liability protection as well. This means if a guest of an insured renter is suddenly hurt inside their residence, there is likely coverage for related medical &/or legal fees.

Additional Living Expenses

Finally, renters insurance commonly includes coverage for additional living expenses. If/when something sudden & accidental occurs in an insured renter’s residence that prevents the insured from safely staying in the residence while repairs & restoration are provided, this coverage compensates the insured for these expenses. These expenses can include temporary living accommodations &/or food/beverages.

FREE Renters Insurance, (or) Affordable

Each insurance company is different. When getting renters insurance quotes it’s important to ask questions & to understand how personal property, liability, & additional living expenses are being protected within the policy.

Finally, there are a couple of other ways to minimize renters insurance premiums:

1. Discounts and Credits: Inquire about discounts or credits offered by insurance carriers. Some companies provide discounts for features like having a security system, smoke detectors, &/or being a non-smoker.
2. Higher Deductibles: Choosing a higher deductible can lower your monthly premium. However, make sure you can comfortably afford the deductible in case you need to file a claim with your agent if something sudden & accidental happens in your residence.

Remember to carefully review the coverage options, limits, & any exclusions when comparing renters insurance policies. While you may not find completely free coverage, investing in affordable renters insurance will provide financial protection & peace of mind.

To receive insurance agent referrals based on your needs & location, please email us at info@wasitsuddenandaccidental.com.

Follow us on Facebook by clicking here.