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Having a renters insurance policy is crucial in case you fall victim to fire, theft, or someone is injured on your property. That’s because it helps protects you from legal and medical costs and in most cases, will replace your damaged or stolen belongings. We’ve done the research for you to help answer questions you might have about Arizona renters insurance.
Average Cost a Year
Arizona’s yearly $195 rental property insurance may be 4% more than the national average, but you would only need to work 24 hours at a minimum-wage job to pay the annual premium. And if you think your possessions aren’t worth enough to warrant the cost of renters insurance, consider this: the cost to replenish the average closet full of clothes is way more expensive than Arizona’s annual rate for renters insurance. If you throw in what it would cost to replace all of your belongings in case there was a fire or to pay for medical bills if someone was hurt on your property, the premium will pale in comparison to what you’d spend without insurance.
Arizona Rental Insurance Coverage
In 2012, 52,934 burglaries were reported in Arizona. Even if you don’t think that will happen to you, you can’t forget about other potential incidents like fires or storm damage that can ruin your things.
Of the 36% renters in the Grand Canyon State, only 31 percent of them will get rental property insurance. Since Arizona renters pay an average of $877 a month for a two-bedroom apartment, what’s a little more for a relatively cheap renters insurance plan? Ask a local insurance agent about the average renters insurance quote.
Save Big with Discounts
Where you live, what you own, your claims history, and whether you have another policy with an insurance company all influence your renters insurance premium. Even though it’s already very affordable, there are still some discounts you can qualify for, including:
- Multi-Policy: Bundle auto or another insurance plan with renters insurance and save
- No Prior Claims: You won’t pay extra if you haven’t ever filed a claim.
- Safety Devices: Smoke detectors, sprinklers, anti-theft systems, and home monitoring systems can save you money.
- Higher Deductibles: Agreeing to a higher deductible can lower your renters insurance premium. But be careful, make sure the deductible is something you can afford if you need to make a claim.
Why You Need It
You may think your stuff is the responsibility of the landlord, that just isn’t true. You’re the only one who will be responsible for replacing your belongings if they’re destroyed or stolen while in your rental. Are you starting to see how a small investment in renters insurance coverage is worth the big protection it offers?
Before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?
Before making any big insurance decisions, use our free tool to compare insurance quotes near you. It’s simple, just plug in your zip code and we’ll do the rest!