If you are looking for renters insurance, I recommend you guys to start by getting a quote from multiple insurance companies to get the best price.
Some well-known companies that you can get the quote from –
To figure out which one was offering the cheapest renters insurance provider, I ended up getting a quote from multiple renters insurance companies to see which one offered the best pricing.
As a tenant myself, I was primarily focused on getting the lower rate possible and was okay if the deductible was higher but made sure that they fully covered any personal liability.
In my case I found the cheapest one to be Square One Insurance. Square One offered a high deductible though which was the main reason why my quote with them came out to be the cheapest. Also I didn’t have many personal items that needed insurance.
Cooperators also had a relatively lower priced quote compared to other renters insurance providers and their deductible was quite reasonable as well. I would recommend you guys to get a quote from Cooperators Insurance.
I recommend you guys get a quote from multiple providers before making a decision!
Insurance companies take into factor several things when they give you a quote.
If the risk determined by the insurance company for the property is higher, then you will end up with a higher quote for your rental unit.
Most insurance providers also provide discounts which can lead to additional savings.
You might be able to get significant discount on your renters insurance if you get other products/services from the same provider.
If you have auto insurance or planning to get with the same provider, they might be able to offer discount on the renters insurance. Also they might be willing to give you some more discount on your auto insurance as well.
If you are working in certain companies, or have professional memberships, some renters insurance companies like TD Insurance might offer you some discount on their pricing.
Believe it or not but if you have Costco Membership, you might be able to get some discount on renters insurance through them.
Insurance comparison websites are supposed to make getting quotes from multiple insurance providers easier and time-saving by having a single application format.
Some popular insurance comparison websites –
In my experience, I found the quotes to on the comparison website to be significantly higher when compared to direct quotes from the insurance companies.
The comparison websites can be a great starting point to know if there are any other providers for renters insurance in your area but also have the potential for higher quotes.
Tom Mehra, an Ottawa-based Software Engineer with a Masters in Information Systems from the University of Texas at Dallas, shares insights on local food spots and top attractions in Canada and the US. He’s also a former resident of the US, UK, and India, and in 2023, his blog was nominated for an Ottawa Award by Faces Magazine. He is also a cat sitter.
Battures Green - Gatineau, QC J8P 7C2 Known only among the locals, Battures Green is…
You might have often heard in the news how Toronto ranks as one of the…
Many people outside Canada, don't really realize that Canada is actually a bilingual country where…
Close your eyes and imagine the sizzle of Suya skewers charring over an open flame,…
While normally it can take weeks for the Canadian Passport to be issued, you can…
Not all photo businesses take baby passport photos which can make it a little tricky…