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What is a good deductible for renters insurance?
My new apartment building requires renters insurance, but I’ve never had to purchase it before. I understand the coverages, but what is considered a good deductible?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congrats on the new apartment! A good deductible for
renters insurance
is whatever you can comfortably afford and varies by individual.It’s important to understand that your deductible is the amount you have to pay out of pocket before your coverage kicks in, so it’s essential to select a deductible you can afford. Typically, deductibles range from $500 to $1000, but some companies may offer lower or higher options.
If you choose a higher deductible, your monthly or yearly premium will be lower. A lower deductible means your premium will be higher.
Before choosing a deductible, determine your budget and shop around with several companies. Since every company is different, you may find a policy and deductible that fits your budget perfectly.
If you want to make comparing quotes and purchasing a new policy simple, you should use
Jerry
. After providing you with a comprehensive cross-analysis of the best policies across providers, Jerry will handle the phone calls, paperwork, and renewals for your top pick so that you don’t have to. And if you ever have any questions, friendly agents are just a text away. View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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