Renters insurance secrets to saving thousands per year

Increase Your Deductible

Adjusting your deductible is a straightforward way to lower your insurance costs. A higher deductible means you'll pay more out of pocket in the event of a claim, but it also reduces your premium. Consider your financial situation and risk tolerance when deciding on a deductible. The National Association of Insurance Commissioners suggests that increasing your deductible from $500 to $1,000 could save you 25% or more on your premium².