subject: Renters Insurance Comparison: Information That Affects Your Premium Rate [print this page] Renters Insurance Comparison: Information That Affects Your Premium Rate
There are several available Renters Insurance Comparison sites that are just a click away. Before you would have to go to great lengths to compare and contrast different quotations from different companies. Today it's easy to do a renters insurance comparison, it only takes five minutes and you will have quotes from all the major insurance providers. Give them specific details and their database will work hand in hand to provide you the best comparison data. The Renters Insurance Comparison gives out the premium rates of different insurance companies based on the following information: a. Property Type - What type of rental property do you want to be insured? Is it an apartment, a single family, a duplex, a multi-family, a townhouse, a condominium, or a mobile/manufactured home? Of course, the type of property that you are going to insure has a big impact on how your premium would be computed. This is of course the first and one of the most important data in any Renters Insurance Comparison site.
b. Garage - Yes, you still have to include this because this is still a part of your property's structure if you have any. You have to select from their options of: no garage, carport, attached - 1 car/not attached-1 car, attached - 2 cars/not attached - 2 cars, attached - 3 cars/not-attached - 3 cars or others.
c. Security System - How sophisticated is your security system or do you even have one? Normally, you would choose from "no alarm", "alarm sounds in home only", "alarm signals monitoring company".
d. Size or area of the property in terms of square footage which ranges from 500 to 5,000+.
e. Personal Property - How much do you think should you cover your personal belongings, the content of your house, your valuable items, or most-prized possessions? Renters Insurance Comparison sites would need to know if it is worth $5,000 only or if it goes up as much as $100,000? Another big factor in determining your premium cost. Naturally, the higher the amount of coverage for your personal property would also mean an increase in the premium cost that would be charged to you.
f. Credit History - Do you pay your bills on due? Do you have a bad track record? So please tick "Poor", "Average", "Good" or "Excellent".
g. Built Year - When was your house or apartment constructed? Was it ten years ago? Five years ago? Or a newly-constructed one? You should know how it goes - the older the house the more prone it is to damages, the higher the risks hence it would have a higher premium cost.
h. Stories or Level - Is it a one-level house? 2? 3? 4? Bi-level? Tri-level? What is the significance of this data in Renters Insurance Comparison sites? The reason for this is that the more levels or stories the property is structured, the risks is higher because that would mean there would be other people than you who can be a third-party liability.
i. Bedrooms/Bathrooms - How many do you have?
j. Fireplace/Basement - Do you have one?
k. Currently insured or have you filed any claims for the last 3 years? Renters Insurance Comparison sites also ask these questions to determine your history with your previous insurance companies.
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