Where To Get Cheap Renters Insurance Quotes Online?

Where To Get Cheap Renters Insurance Quotes Online?

Martin Dasko - Founder of Studenomics

By Martin Dasko

Published on June 9, 2020

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renters insurance quotes, renters insurance for college students,

Where To Get Cheap Renters Insurance Quotes Online

Are you looking for cheap renters insurance to protect yourself? 

We know that you have plenty of expenses to think about. 

You have to worry about paying your rent, having enough money for groceries, and trying to find some spare change to have a social life. 

I recommend you start your journey with a free renters insurance quote by state.

Where Can You Get Cheap Renters Insurance in 2021?

This article was update in 2021 to take a deeper dive when it comes to finding cheap renters insurance during this global pandemic.

Prior to this pandemic, many insurance companies relied on offices and selling insurance polices in person. These days, you can obtain a cheap renters insurance policy online within minutes.

It's important to note that the world is going online and insurance companies are aware of this. You can now enrol in a renters insurance policy from the convenience of your phone as you sit on the couch scrolling through social media. 

You can find cheap renters insurance by obtaining a few quotes online and shopping around until you find the policy that matches your budget and lifestyle. You don't have to settle for the first insurance company that you find.

Here are a few quick tips on where you can find cheap renters insurance in 2021:

  • See if your alumni department has any discounts.
  • Contact your employer for any possible offers.
  • Browse until you're comfortable with the renters insurance policy.

Keep on reading to find out more about where to find cheap renters insurance. 

Who Has The Cheapest Rental Insurance?

The last thing you want to do is to spend a lot of money on renters insurance. 

That’s understandable and we’re going to point you in the right direction on where to get cheap renters insurance quotes online so that you don’t have to stress about the process.

Many young people think renters insurance is extremely expensive. 

They feel that renters insurance could set them back thousands of dollars. 

The reality is that not having renters insurance could set you back thousands of dollars if something were to happen. 

You can easily find a cheap renters insurance policy that won’t break the bank. 

We know that finding cheap renters insurance will likely be your priority since you’re not looking to spend a fortune on another expense.

This leads to an important question.

How cheap is renters insurance?

Most young renters will want to find the cheapest renters insurance possible. 

This is why we’ve done the research to find you the perfect renters insurance plan for your situation even when you have a small budget for this.

If you’re wondering about how cheap renters insurance can be, here’s some information that we’ve found from our research.

According to Policy Genius

“Renters insurance is a relatively cheap insurance product, costing an average of $15 a month. And although it’s cheap, renters insurance can offer thousands of dollars in protection.”

On that note...

What is a good price for renters insurance?

Many young people think that renters insurance will cost more than rent. 

This isn’t the case at all. You can find a renters insurance that is much cheaper than a round of drinks or one take out meal at your favorite local restaurant.

After conducting research across many different platforms, we’ve discovered that you shouldn’t pay more than $20/month for renters insurance. 

If you find some sort of a bundle, you can spend even less on renters insurance. For example, if you already have auto insurance, you can easily find an insurance bundle that will allow you to save money.

Here’s what one renters insurance company had to say about insurance rates…

“The average cost of a renters insurance policy is $15.50 per month. But as we mentioned, the price can vary significantly, depending on your apartment’s location, the condition of the building, your personal history, and the amount of coverage you need. For example, if you decide to insure just $10,000 of your stuff, your insurance policy could cost $13. But, insuring $40,000 worth of stuff may cost around $15.”

In other words, the cost of your policy will depend on how much personal property coverage you want (link here), your loss of use coverage, and liability coverage that you’re looking for. 

If you want simple protection and are willing to raise your deductible, you can find the cheapest renters insurance for your situation.

The other good news about finding cheap apartment renters insurance is that there are cheap customizable policies out there. 

You can find a simple policy that will take into account the limited possessions that you have. 

You don’t have to spend a fortune on personal property coverage if you don’t have that many possessions. You can have a small limit for your coverage and get by.

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Best Renters Insurance Quotes Available Online

We looked around to see what the word is about renters insurance. 

Many young people feel they simply can’t afford renters insurance on top of all of their current expenses. 

Some people we spoke to were confused to the point where we needed to back up and start with the basics... What is Renters Insurance.

The good news is that we have found the cheapest renters insurance quotes online for you. 

You don’t have to waste an entire afternoon calling around different insurance companies to find the cheapest renters insurance quotes. 

The beauty of online renters insurance quotes is that you can have your policy within a few clicks so that you don’t have to go in to speak with an insurance agent.

"The whole process was so simple. Other insurance companies need to step into the current century!"

Affordable Renters Insurance For College Students

Do college students really need renters insurance? 

College renters insurance is an important aspect of protecting yourself when you go away to school. 

According to this article, here’s how renters insurance will cover you as a college student:

“However, once you move off-campus and start paying rent, you are no longer covered by mom and dad's policy if there is a fire or someone breaks into the place.”

Since this is likely the first time in your life that you’re on your own, it’s important that you protect yourself. 

Your parents may not be there to bail you out.

One financial disaster in your early-20s could put you deep into a debt that will be challenging to pay off as you try to navigate the real world.

We totally understand that when you move away at 18, you’re likely feeling indestructible and on top of the world. 

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You’ve likely never had to worry about insurance or any legal issues before in your life.

The issue is that there are many things out of your control that could cause financial hardship. 

Let’s look at a few possible scenarios for why college students need renters insurance:

Someone could trip while at a party at your place and get injured. No problem, right? Wrong. 

That injury could force them to go to the hospital where they’re going to be hit with medical bills (anything from X-Rays to an emergency room stay) and then they may even be advised to sue you. 

Those expenses could add up really quickly.

Here’s another situation that could occur. 

You return from class to find out that your laptop, tablet, and iPod were all stolen or damaged while you were gone. How are you going to replace these items? 

Will you have the money to purchase everything again? Likely not.

A lit candle or a simple cooking fire accident could also damage your unit and the units around you. 

You would have to stay in a hotel. 

With loss of use coverage, your renters insurance would cover your hotel stay, your meals as you stay in this hotel and the cost of repairs to any units impacted by this damage.

Could you imagine being on the hook for any of these financial disasters? 

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Pro Renters Insurance Tip

Renters insurance doesn't just cover the replacement of your belongings, but also protects you if someone gets hurt on your property.  Limits usually start at $100,000.

Staying in a hotel room alone could be very expensive. 

Paying for a new laptop and replacing every single possession would definitely set you back thousands of dollars.

This is why college students need renters insurance. 

Most people start to turn the corner at this point in the article and start to wonder, 'How do I get renters insurance?'

Let’s take a quick look at renters insurance for college dorms and the best renters insurance for college students in apartments.

What’s the deal with renters insurance for college dorms?

Are you covered by your parent’s insurance policy when you move into a dorm? You technically are covered. 

The only issue is that the coverage is capped at about 10%. What this means is that your items aren’t fully protected the way you would want them to be.

You’re going to want to double-check to see what kind of coverage (if any) you have under your parents’ insurance policy. 

If there’s no coverage or not enough coverage, you’re going to need your own renters insurance policy. 

What about the best renters insurance for college students in apartments?

If you decide to live off-campus, you’re going to want renters insurance to protect yourself. You’ll get protection in three forms: 

  1. Property replacement. Your items will get replaced if stolen or damaged due to an accident. You would also have coverage if you were to have your possessions stolen out of your suitcase while traveling (link here).

  2. Liability protection. This will cover you in the event of some sort of an accident at your place. Liability protection will be there to cover any medical bills that occur from a guest or any legal situations.

  3. Additional living expenses. As mentioned earlier, additional living expenses coverage would help you with the expenses related to finding a place to stay if you couldn’t live in your unit.

That’s why college students need renters insurance even if it doesn’t seem like you need all that much protection. 

The good news is that there are plenty of affordable renters insurance options for college students on a tight budget.

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Renters Insurance Starting at $5/month

No brokers, no paperwork, get a policy in seconds.  Zero Hassle, zero paperwork, zero worry. Join now!  Starting at $5/month.

It's free to apply!

Take Action

We realize that you have enough expenses and that finances might be tight at the money. 

This is why we want to help you so that you don’t have to worry about where to get cheap renters insurance.

By this point, you shouldn’t be confused about where to get cheap renters insurance.

We’ve done the research for you. Click here to sign up for the cheapest renters insurance policy.

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