Renters insurance is easily one of the most valuable forms of insurance, since it is both inexpensive and covers all of your personal items. Indeed, purchasing a policy that costs $25 each month will give you the peace of mind that your electronics, for example, will be replaced in the event of stealth. But what's even more surprising about renters insurance is that it's possible to get discounts despite its low monthly premiums. As you read this article, you'll learn how to make the cost of this type of insurance even lower than it already is.

The correlation between safety and renters insurance premiums

As you might know, insurance firms are risk averse and won't hesitate to charge high rates if it enables them to be well protected against high-risk policyholders. So when looking for a new apartment, make sure you integrate neighborhood safety among your specific criteria. For example, if your home is located in a neighborhood featuring a police station, then your premiums may be discounted.

In addition, when visiting the apartments complex of your choice, put yourself in the shoes of a safety specialist, and look for a positive answer to the following questions:

• Is the building equipped with fire alarm systems?
• Does everyone need a key to access the building units?
• Are all apartments equipped with smoke detectors?

If the answer to the questions is yes, then your chosen apartment complex will be considered safe, which means that you'll be able to bargain lower premiums with the insurer.

Traditional ways to cut insurance premiums also apply to renters insurance

Cutting renters insurance premiums is possible by:

• Raising your deductible
• Choosing insurance bundle

If you own many expensive items, then you might want to make sure that these are fully covered by the insurance company. An easy way to guarantee the full replacement cost of your belongings and low monthly premiums is by raising your deductible.

Similarly, getting different policies from the same insurance company will automatically make you eligible for discounts. For example, if you're already a life insurance policyholder, then check if your insurer also provides renters insurance so you can bundle.

Because the monthly cost of renters insurance is low on average, it makes little sense not to protect your personal items. But if you want it to be even cheaper, then you now know what to do. Contact a local insurance professional, such as those at CDS Insurance Services, today to find out which policy is best for you.