Wednesday, September 4, 2013

Shopping around for renter's insurance

Although my lease requires it, I would purchase renter's insurance anyways. We have always used Nationwide and bundled life, auto and home owner's insurance. When I moved into this rental, I continued using them.

Fast forward, and having a young man bundled onto my auto plan is pricey, so I moved to Progressive for auto insurance, effective this past May. Since I dropped my auto policy, Nationwide, in it's great wisdom, decided to jack up my renter's insurance as a result, not even considering that I continue to be a life insurance client as well. No problem, time to seek alternatives for renter's insurance. Prices are for paid in one payment plans vs monthly plans that have additional, monthly surcharges added, to the tune of $1 to $5. Nope, I am the lady who pays it in full.

Nationwide: $452/year (last year, it was $330)
Progressive: $378/year
Insurance thru my Union: $317

Same identical coverage, and not necessarily bottom level coverage either.
Contents: $50,000
Personal liability: $100,000
Medical for others: $1000
Deductible: $1000

So I just saved myself $135, and I am actually paying less/month when spread out over the year. Original Nationwide rental ins. was costing me $27.50/month, while I have paid $26.42/month for the next year.

It's all good, as DS college boy would say.

Next up, get a quote for adding DD (once she's ready) to a bundled auto policy from Progressive, my current ins. carrier vs a plan thru my Union. Never thought of using an Union sponsored plan. The worked out really well for me.


Anonymous said...

I know you are on top of things but make sure you have pictures. Progressive gave my sister a horrible time when she was robbed. Because even though she had receipts for most of the items some were older or family things and they fought her on them. So now she poses the baby in front of everything of any value and importance and took pictures just in case

CTMOM said...

A good reminder, thanks, Judy!