1. 315 POINTS
    Jerry Usher
    Producer, JW Hoban & Associates, Northeastern Pennsylvania
    Renters Insurance premium is based on several things such as location, type of building/apartment you rent, and insurance scores but mainly the premium is determined on the value of your contents (all your stuff) that you want to protect and the deductible that you choose.  Since we all don't have an identical amount of stuff - it's hard to say what the average cost would be. 

    But what I can do is give you an example.  A person who rents a single home in NEPA which an middle insurance score who has $50,000 worth of contents and a $1000 deductible has an annual premium of $180.00.  This includes replacement cost - money to buy identical or similar items, as opposed to actual cash value, which would be cheaper yet.

    Of course, there are many discounts available as well such as multipolicy discounts, alarm discounts, and advance quote discounts.  If you would like more information on PA Renter's Insurance - please contact me.
    Answered on December 20, 2013
  2. 200 POINTS
    Sean Mooney
    Broker, Mooney Insurance Brokers, Philadelphia, PA
    Renters insurance is one of the most affordable types of coverage that you can buy. It will cover your personal property, or commonly referred to as contents coverage. The easiest way to illustrate what a renters policy will cover is - imagine you can take your existing dwelling (house or apartment) and you can flip it upside down and shake out everything that isn't attached to the home. All of the items that fall out would be categorized as your personal property.
    Renters insurance is very affordable and can cost as little as $150 / year. Here are some factors that will dictate the cost:

    Amount of coverage
    Credit score
    Packaged with auto 

    One of the largest discounts that insurance companies offer is a "multi-policy" discount. If you talk to an independent broker, they will be able to quote your information with multiple carriers to make sure you are getting the most comprehensive coverage at the most competitive price. The other advantage of packaging the renters and auto together is that you will receive that same "multi-discount" on your auto policy as well.

    Hope this helps, -- @MooneyInsurance
    Answered on April 4, 2014
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