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What should the deductible be for my renters insurance?
"I just got my first apartment and I'm planning to speak with an agent soon to discuss my renters insurance options. What kind of deductible should I be looking at?
"
Savannah Grabek · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“A standard deductible for renters insurance is $500, and most companies can even offer lower options. The main concern here is that you want to be able to access your coverage. It may be difficult to see a return with a deductible higher than $1,000, unless there is a large loss.
Since renters insurance is typically very inexpensive, lowering your deductible may not have a huge impact on your premium and it could be more beneficial to you as the insured.”
View full answer
- Gregory R.
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