Buying renters insurance isn’t always considered a priority by renters. Some might not even consider it if the rental agreement doesn’t require it. The good news is that renters insurance is generally very affordable and easy to obtain.

As noted, it is now frequently a requirement to show proof of an active renters insurance policy when you sign a lease agreement.

Even though renters insurance coverage is very affordable, you still want to make sure that you’re getting the best price for the coverage that you need. If you want to know how to save on renters insurance, this post has some valuable tips from the best source — renters themselves.

Clearsurance looked at reviews and compiled this list of the top ways customers say they save money on renters insurance. These renters insurance tips from actual customers can provide guidance for anyone who is looking for cheap renters insurance for apartments or other rental properties.

Tip 1: Ask about renters insurance discounts

There are a lot of discounts available to renters, including some that you might not even realize can help you save money. For example, when you move into an apartment, you might think that the sprinklers or other fire suppression systems in your apartment are there to protect your landlord’s property, such as the building structure.

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However, since these systems are effective at putting fires out quickly, they protect your personal property too, so many insurers will discount your renters insurance if your apartment or rental unit is equipped with them.

The same goes for other systems that may be installed by your landlord, such as security systems and alarms.

Even information such as the building’s construction and the materials it is made from can make you eligible for discounts, so don’t be afraid to ask your insurance company about discounts.

Here’s what one customer learned about Lemonade renters insurance:

"Best customer service ever! My lemonade policy barely costs a fast food meal a month. It’s so cheap. My property required renter’s insurance (which I really did not want at the time - I thought it was pointless, what could happen to me - right?!) I found lemonade online and chose them due to their great rates. I got a lot of discounts because I have a security system in my apartment and my complex has fire sprinklers in every room, fire alarms in every room, and smoke detectors in every room." – sam1, Lemonade Customer Reviewer (Read the full review here.)

Tip 2: Regularly review your pricing

This tip is about making sure that you make it a habit to spend some time checking to see how prices have changed. Insurance companies regularly refine and adjust how they set their rates, which means that if you stay locked in to one insurer and don’t ever check what others are charging, you might end up paying too much for your renters insurance. Shopping around may save you money on renters insurance.

Set aside some time once a year to do a bit of comparison shopping. Read reviews and get quotes from other renters insurance companies, making sure that you take all of the discounts you are currently getting into consideration. For example, if you’re getting a multi-policy discount because you have both your renters and auto insurance through the same company, make sure that you factor that into your research process.

Don’t be afraid to switch companies if you find a better price for the coverage that you need. Renters insurance doesn’t take that long to apply for, and with many companies you can now complete most or all of your application online. Here’s what one customer said about GEICO renters insurance:

"I am a loyal GEICO customer, and after having reviewed and priced several vendors, I can confidently say that GEICO offers the best prices and service." – engro, Geico Customer Reviewer (See the review here.)

Note that even though this customer is happy with GEICO and is a loyal customer, taking the time to get prices from other vendors provides validation and confidence that the price paid is a good one.

Tip 3: Check your affiliations for additional discounts

Who you know can get you a discount…maybe not in the VIP celebrity or Instagram influencer way, but there are many affiliate groups that offer insurance to members at a great price. Many of these are profession-based affiliation groups, such as Meemic Insurance for those who work in education.

If you are a member of the military, or an immediate family member of someone who is, you could be eligible for USAA insurance, like the customer who provided this review:

"They have amazing prices. I have saved so much money. I have not found any other insurance company with prices this low. The customer service is top notch. I have both Renter's insurance and Auto insurance. This makes the pricing even better. Plus, the renter's insurance covers items in my home, in storage units and during travel." – Gjillette, USAAA Insurance Customer Reviewer (See the review here.)

USAA receives a lot of praise for its customer service, prices, and the range of insurance products it offers. The catch is, you have to have an affiliation with the military in order to be eligible to get USAA insurance coverage.

If you don’t qualify for USAA, don’t despair. Look for other possible affiliations, such as education, health care, first responders or law enforcement, that might offer renters insurance discounts. You could save a lot of money.

Bonus tip from this review: bundling. If you have more than just your renters insurance policy (such as a car insurance policy), you might be able to save money if both policies are with one insurer. Just make sure that you aren’t giving up any features that you might want or need if you do decide to consolidate all of your policies with one company. Cheap renters insurance is important, but so is having the features and coverage you need and can count on if you ever have to make a claim.

Hopefully this piece has provided solid information on how to shop for renters insurance. Remember to ask about any discounts available, shop around at least annually, and see if your affiliations could save you money!

Check out the top customer-rated insurance in your zip code and the top renters insurance in your state by visiting Clearsurance’s best renters insurance page.

Image source: Roman Babakin/ shutterstock.com

The content on this site is offered only as a public service to the web community and does not constitute solicitation or provision of legal advice. This site should not be used as a substitute for obtaining legal advice from an insurance company or an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter. The comments and opinions expressed on this site are of the individual author and may not reflect the opinions of the insurance company or any individual attorney.