How much does renter’s insurance cost?

Of course it is easy to say that renter’s insurance doesn’t cost that much. But try telling that to someone right out of college renting their first place, $10 to $15 a month was a lot!

$10 to $15 a month will cover about $25,000 to $30,000 worth of property that you have.

Getting a quote is free at most places and pretty fast too.

I went to the Allstate.com web site and within 2 minutes I got a quote of $150 a year ($12.50 a month) with a $250 property deductable.

I also went to Geico.com web site. I filled out a bunch questions (more than Allstate) and at the end they referred me to another site called assurant.com. That was a bit frustrating because I just answered those questions for nothing!

So I filled out the new information on the Assurant site and I got an annual payment of $475 ($39.58 a month) with a $250 deductable. I thought I might have done something wrong because it came in higher than I expected so I then tried $20K coverage (from $30K) and the cost went down to $26.91 a month.

Next I tried Homesite.com for another renter’s quote. Unfortunately they require I fill out too many questions so I quit after the sixth screen of questions.

Sometimes you need to watch out for sites that give you multiple free quotes because they might just want to harvest your email address and sell it. I used Allstate when I was younger and they were easy to deal with.