The renters insurance premium averages $175 for Audubon tenants. The cost for you varies based on your age, home location, and coverage, etc., This article is a guideline for you to get your perfect renters insurance policy.
Renters insurance protects your belongings and provides liability coverages. It is increasingly required by landlords before signing the lease agreement. The landlord's own insurance usually only covers the damage to the actual dwelling, your renters insurance is a good supplement to protect your personal property inside the apartment in case of fire, theft or damage.
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How much is Renters Insurance in Audubon?
Based on our quote history, the renters insurance premium ranges from $124.27 to $214.2. The quote is based on an applicant profile of a single, 20-year-old student has filed no claims in five years with coverage includes medical payments of $5,000 and personal property of $10,000.
As you can see, the prices vary quite a lot in Audubon. If you're wondering what's the best option for you, click here to get free insurance quotes today.
What factors determine your renters insurance premium?
The department of insurance has regulations about what factors could be used to determine your insurance premium. In most cases, your location, age, and your coverage are the most significant factors for your renters insurance premium. In some states, your credit score is also an important factor.
- The amount of coverage
- The value of your personal property
- The deductible amount
- The liability amount
- The neighbor your property is in
- Discounts
The discount usually includes things such as bundles (if you have other types of insurance with the same company, or if you have systems like security system, smoke detectors, deadbolt locks, etc.
Common renters insurance discounts
Most carriers provide various discounts for renters insurance as well just like for auto insurance. Here are some most common discounts. You can also check this blog for more details.
| Discount | Description |
|---|---|
| Multi-Policy | If you purchase both renters and auto insurance from the same company, you may qualify a discount for the auto insurance. |
| Secure Home | If you have extinguishers, burglar alarms devices or you are in a gated community, you may qualify for the secured home discount. This averages about 5% from quite a few carriers. |
| Claim-free | Just like auto insurance is lower for accident-free drivers, renters insurance is also cheaper for claim free tenants. If you have never reported any claims before, you will qualify for the claim-free discounts from quite a few carriers. |
| Age | Usually, for renters insurance, older people pay less than younger people for a similar property. So, if you’re a college student and trying to find a renters policy for your apartment near school, you probably will pay more. |
| Good Credit | A customer with a credit score higher than 700 can often get a better rate than those who don’t. |
| Pay-in-full | If the carrier supports both monthly and yearly payment, usually paying-in-full will give you a discount. In other words, if you choose to pay monthly, you should pay attention to the extra fee charged by your carrier. |
| Paperless | A few carriers even provide paperless discounts. But more and more new insurance carriers do not offer it probably because the overall cost has already been saved. |
Click here to start a free and personalized insurance quote to compare all the discounts.
Other risks in Audubon
Most renters insurance policies do not cover damages to your personal property caused by a flood or an earthquake. Audubon has natural hazards such as hurricane, flood, and storm. Therefore, it is also a good idea to check with your agents for the policies that cover those disaster risks.
Last but not least, with more and more exposures of personal information on Internet, it is increasingly important to check if your renters insurance provides identity theft protection.
Renters Insurance for All cities in Pennsylvania
We also generated a report for all cities in Pennsylvania.
References
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