Renter's Insurance?

Question

What is a good (and relatively cheap) place to get renter's insurance? There's only two of us (bf and I). We don't have a lot of stuff but we have three computers and a big screen t.v. so I want to get renter's insurance. We live in the suburbs of Chicago.

Answer 1

Because rates vary so much from one company to another the key is to get as many quotes as possible from various companies.  

There's a free on-line service that can help you at

http://www.kqzyfj.com/click-2952034-1039...

You fill out one simple on-line form and they provide you with multiple quotes from several companies. This beats calling agent after agent only to get quotes from the same insurance companies.

Hope this helps!

Agent 20+ years

Answer 2

Did you try your auto insurance company? They will usually give you a discount on renter's insurance if you go through them. I have State Farm and pay $ 8 a month for $ 20,000 of coverage for renter's insurance. I got a discount since I have my auto insurance with them as well.

Answer 3

OK, most companies are going to not want to write a policy with two unrelated people as named insureds.  And actually, it's not in your best interest to do that, either.  

BUT, that wasn't your question.  The BEST place to go, is to your car insurance agent.  See if they do renters, because then you'll get a massive discount off the car insurance.

Renters policies are all pretty much the same - it's going to be about $150 a year for a policy for $20,000, $100,000 liability, $250 deductible and replacement cost on the contents.  Any A rated carrier is going to be just fine.

Answer 4

I can't say for certain, but I don't think you'll be able to get a joint policy(assuming you're not related to each other). Most companies won't insure people together if they aren't related. I'm pretty sure you'll each have to get your own policy for your own stuff. The reason is....renter's insurance covers liability too. Since you aren't related, liability cannot be imputed to the other person. So, even if you're only worried about the tangible belongings in the apartment, I would suggest that you both get your own renter's coverage to protect your own interests. One small accident not covered by insurance could ruin you financially for a LONG time. If you slip up and burn down the apartment, what would you do??

Check with a your auto insurance company or visit a local independent agent. You can probably get $20,000 of contents coverage and $100k liability for $10-$12/ month.