How to Get Cheap Renters Insurance Online & Fast In Jan 2024

how to get renters insurance

Most rental properties, whether you are looking at an apartment or a home, require you to have renters insurance and show proof that you have coverage before you sign the lease.

Renters insurance, or tenant’s insurance, is an insurance policy that helps protect you and your personal property in case of theft, accident, or damage. 

If you don’t have renters insurance or don’t know how to apply for renters insurance, don’t panic.  Applying for a renters insurance policy is easy.

how to get renters insurance

In this post we will cover how to get cheap renters insurance online and fast in 2024

What Is The Average Cost Of Cheap Renters Insurance?

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Liberty Mutual is rated A+ by A.M. Best and known for their great customer service is our second pick. 

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Progressive is best for discounts and they have A+ ratings from both BBB and A.M. Best and is our third pick.
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QuoteWizard is an insurance marketplace that helps you compare quotes across several companies.

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What You Will Need to Get Renters Insurance

If you’re not sure how to get renters insurance for an apartment or home rental, you may feel a little overwhelmed. That’s ok. Our guide will tell you precisely what you need and how to get renters insurance fast. Before you begin, it’s best to know how much rent you can afford and then gather the following information:

Your social security numberYour previous address, as well as the address of your new residenceThe type of rentalThe date you need the insurance policy to beginThe number of people that will be living with you full-timeDetails on any business you’ll be doing from the property (if applicable)The breed/type, age, and size of any pets you may have

You will also need a few details about the place you’re moving into:

Is there any damage to the property currently?Are there any safety features such as smoke detectors or security tech on the property

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These safety and security features may help reduce your policy costs through discounts from your insurance provider.

You should also know the value of the personal possessions you want to insure. A quick home inventory can help you to gauge the amount of coverage you need.

Keep in mind that some high-value belongings such as jewelry or collections may have limited coverage under renters insurance and require a separate policy.

Now that you have your information together, finding the best policy for your situation won’t take long. It should begin, however, with a bit of research.

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1. Understand What Your Landlord Won’t Cover.

Your landlord is required by law to carry a landlord policy for their rental property.

These policies typically cover the structure of the building or home, but not the value of their tenant’s belongings.

These policies usually include liability coverage—but only for the policyholder. 

They are unlikely to cover bodily injury due to accidents or certain types of damage.

Before signing a new lease, it is best to get a copy of your landlord’s insurance policy so that you understand exactly what is covered.

2. Do Your Research (Don’t Rush)

Once you know what your landlord’s policy covers, you’ll need a basic understanding of the most common policies offered in renters insurance.

Your liability rider covers damage to someone else’s property or person. If you accidentally break your neighbor’s window, for example, this part of your policy will cover the damages and any legal fees resulting from the accident.

If a guest gets injured in your home due to a fall, dog bite, or any other number of accidents, your renters insurance should pay for their medical expenses.  If the injury results in a lawsuit, the personal liability clause in your policy should cover any legal fees.

Personal Property Coverage

This part of your tenant insurance policy covers the cost of replacing your belongings due to loss through damage or theft.  It includes clothing, furniture, electronics (including computer or gaming systems), jewelry, and appliances.  It is important to note that your renters insurance will cover losses up to your policy’s limit.  Most policies, for example, won’t cover damage due to pests such as bedbugs and some natural disasters.  Most will cover damage from the following:

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Fire and smoke damageStorm damage (lightning, hail, high winds)Water damage (flood, broken appliances, etc.)Snow damage including breakages due to the weight of snow, ice, or sleetCold damage due to plumbing, heating, or cooling systems freezingVolcanic eruptionsFalling objectsDamage by auto or airplaneRiotsExplosionsElectrical damage due to short-circuits in appliancesVandalism and theft

Look over this part of your policy carefully so that you understand what is covered and what isn’t. For example, if someone steals your camera or tablet while you are on vacation, it may still be insured by your policy.

Temporary Living Expenses or Loss of Use

If you are unable to live in your home due to a covered incident, your policy should reimburse your costs for your temporary living arrangements. 

That may include everything from your hotel stay to the price of your groceries.

3. Figure Out How Much Coverage You Need.

Even if you don’t feel your belongings have a high intrinsic value, you might be surprised at how much it would cost to replace them.

A quick home audit listing your belongings and an estimate of their overall value will help you determine the amount of personal property coverage you need with your renters insurance policy. 

It’s a good idea to make an inventory list and store it with your insurance policy. Some people even include pictures or video of their belongings in case they need to make a claim.

4. Find The Company That Works Best For You.

We recommend that you also spend time researching insurance companies to ensure you get the best deal.

Review Multiple Insurance Companies

Most insurance companies will offer you a discounted rate if you add your renters insurance policy to a policy you already have with them, such as your auto policy.

If you’re in the market for a new insurance company or are looking for a better rate, however, comparing multiple insurance companies might save you some money.

A simple Google search for the “best renters insurance companies” or “how to get renters insurance fast” will allow you to review multiple companies. 

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You may consider adding your state or city to the search for the best local search results.

The companies on the first page of your results tend to be bigger organizations, and you’ll likely recognize most of them.

Take a moment to glance at the amount of coverage they offer and their rates.

If you don’t recognize the insurance company’s name, take a moment to check out their BBB ratings to ensure they’re legit.

Read Individual Reviews for Insurance Companies

One of the best ways to tell if an insurance company is easy to work with is to read their reviews.

Of course, the reviews that they highlight on their site are going to be positive, so do a quick search for reviews off-site.

Are their rates reasonable, but their customer service bad? Do they give their clients the run-around when it comes time to payout?

By reading their reviews, you’ll find a pattern.

5. Get An Instant & Cheap Quote.

Once you do all of your research it’s time to get some super fast quotes. 

We created Simply Insurance so that you don’t have to spend hours on the phone speaking with agents if you don’t want to. 

You can click here or on any of the above buttons to get a quick quote and the cool thing is that most renters insurance policies cost around $15 a month. 

6. Complete The Online Application

Your next step will be to complete your online application.  

This is when you will need to have all of your personal information ready such as date of birth, amount of coverage you need, your social, pretty much all your info.

And don’t worry, these applications are super secure and most of todays renters insurance companies offer an online portal for you to login and complete your application.

The best thing about online applications is that they allow for instant approval and gives you the ability to print out your proof of insurance immediately.

RENTERS INSURANCE WHERE YOU LIVE

Renters insurance by state.
As a home renter, there are insurance policies available for you.

With quality Renters Insurance, you can protect your home and everything inside it. For more information, click on your state.

Taking Action

We recommend Lemonade as the best company for renters insurance because they have, a super-smart AI that offers a fast, affordable, hassle-free experience that’s guaranteed to save you money.

Filling out the application is as easy as answering a few questions and Lemonade will do the rest.

If you need renters insurance, we’ve done the hard work for you—check out the top three companies or get your free renters insurance quote today.