If you’re like most people, you’re always looking for ways to cut back on your insurance premiums. Luckily, renters insurance is a very affordable form of coverage, but there are still a few things you can do to trim your premium. Here are five tips for saving on renters insurance.

1.       Deductible: Insurers use a simple formula; the higher your deductible, the lower your monthly premiums. This is because you take on more of the costs should a covered incident occur. If you want to pay less for coverage and you feel safe doing so, ask your agent to raise your deductible to a higher dollar amount.

2.       Credit: Keep an eye on your credit report to ensure that there are no errors impacting your score. Why? That score is used by insurers to assess your reliability. A good credit report often results in lower premiums.

3.       Location: A safe apartment complex with a low crime rate and a nearby fire station will likely earn you a lower rate than one in a riskier area. Renters insurance rates are calculated based on the risk of you needing to file a claim.

4.       Discounts: You may have to ask your agent first, but plenty of discount options are available. Do you have safety devices in place, like deadbolts and smoke detectors? You may be eligible for a discount. Have you been with the same insurance provider for years? You may be eligible for a discount. Simply ask for more ways to save.

5.       Payment: It may sound silly, but processing your premium payment costs money. So many insurance providers tack on an administrative fee to each bill. You can reduce the amount you spend on fees by selecting a less frequent payment plan, such as annually or biannually.

Ask how you can save today. Call Gary Warner Insurance Agency, Inc. at (818) 706-8625 for more information on Calabasas renters insurance.

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