What Info Is Needed For Renters Insurance?

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   Jack Heller

   Owner, Insurance Browser,

   There is an old expression regarding personal insurance: Whatever the coverage remember your really insuring people. The idea is that you can underwrite insurance including renters insurance from such items as amount of insurance, location,prior losses, amount of liability coverage and such, but behind every policy is a person. So, you can expect that most companies today use rating algorithms that include the items mentioned above as insurance score ( a variation of credit scores) , your age,whether you have vicious dogs ,  occupation and whether the property will be occupied by you during the day etc. Typically, it is an inexpensive policy and as such there really is not a lot of money in the commission nor expense factor of the company. What that means is that it is underwritten by class and one policy is not much different than the other. My recommendation to you is to start with your auto insurer. I frequently find the pricing of renters policy nearly all offset by the savings you get from having both with the same company. To give you an example here in the Atlanta area a 25,000 contents renters policy might be  $150 per year, while the amount of credit for having it with  the same company on your auto policy  might be as much as $125.

   Answered on December 22, 2013

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