How much do you pay for tenant insurance? - Landlord Forum thread 360909

How much do you pay for tenant insurance? by Rita on October 31, 2020 @01:44

Hello experts,
We moved into an apartment last week and need to get tenant insurance to protect our belongings from natural disasters. I don't have very much to insure, so I need the basic.
I'm considering checking the standard rates with different insurance companies. So, I could make a better decision by comparing each of them. I hope that some of the members here might have experience dealing with a tenant insurance broker and have insured your rental property. I also need your advice and suggestions before hiring an insurance company.
How much do you pay for tenant insurance?
I really appreciate any help you can provide.

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Re: How much do you pay for tenant insurance? by Garry on October 31, 2020 @11:01	[ Reply ]

Rita, this is a landlord website, where a landlord writes in to other LLs, asking Qs about tenants. That being said, I would suggest you go ahead and call several of the large insurance companies that advertise on TV, and get quotes from them. In general, they will quote you a cost of between $10-$15 per month, for a basic policy. That will cover all your PERSONAL belongings you own, as well as certain accidental damages caused by you, such as a cooking fire that takes out the whole kitchen. In that case, the LL will look to your insurance company to recover damage costs to his building. The LL has his own insurance to cover storm or fire damage to his building NOT caused by you. His insurance does NOT cover YOUR personal items if they are destroyed by that same fire or storm.

Re: How much do you pay for tenant insurance? by lpadave on November 1, 2020 @06:28	[ Reply ]

Rita You are being a responsible and forthright tenant. That speaks well of you. Try your auto insurance company, AAA, Costco, Walmart, SAMs,your Union or local realtor offices. Many realtors are also insurance people. Basic renters insurance policies are all priced pretty close to each other. What is the main price factor is how much coverage you buy for your personal property, not the liability limits. 300k vs 500k will only be literally a few dollars more per year. The personal property coverage USUALLY extends to thieft or fire loss including items from your auto, which your auto coverage may not. If your phone, computer, camera, jewelry in your purse etc is burned up in or stolen from your car, your renters insurance MAY cover it. Your auto insurance may not. If you are robbed on the street or in your car, it might cover your loss.