It’s time to renew our renters insurance policy, and I’m glad I shopped around!
I got quotes from about five different companies. Last year, our deductible was $250, and this year, we’re increasing it to $500.
Last year, we paid $150.25 for our annual policy. With a higher deductible, it would have been $136.25. Not bad, but I wanted to do better.
By switching companies, our new rate will be $102 for the year! That’s $48 cheaper than last year, and $34 less than my next best rate. I’ll take those savings, thank you.
Since I’m going to start our new policy today, I actually expect a few dollars back from our old insurance company, since they’ll prorate it.
To avoid being hit with a $100 addition to our budget next July, I’m going to deposit $8.50 each month into an ING Direct subaccount ($102 / 12 months = $8.50), and I’ll earn a tiny amount of interest.
By the way, if you don’t have renters insurance, totally get it. I haven’t had to file a claim (thank goodness) but there are two instances in the last year that made me think, “I am so glad we have insurance.”
Ya just never know when something bizarre will happen and ruin all of your stuff.