choosing the right rental insurance

Factors to Consider

When selecting a rental insurance policy, there are several factors to consider:

• Coverage Limits: Ensure the policy provides adequate coverage for your belongings. The average personal property coverage limit is around $30,000, but this can vary based on your needs and the insurer's offerings.
• Deductibles: This is the amount you pay out of pocket before the insurance kicks in. Higher deductibles usually mean lower premiums, but make sure you can afford the deductible in case of a claim.
• Premium Costs: Rental insurance is generally affordable, with average premiums costing around $15 to $30 per month¹. However, rates can vary based on location, coverage limits, and the insurer.
• Discounts: Many insurers offer discounts for bundling policies, having security systems, or being claim-free. It's worth asking about available discounts when you search options.