More and more renters now buy renters insurance. According to a survey done by ORC International in 2016, 41 percent of renters said that they carry this type of insurance. If there is a fire or burglary in your home, renters insurance helps replace your personal belongings.

However, if you are paying a lot of money for this coverage, you might feel pretty frustrated. Here are six ways to reduce the cost of renters insurance.

Quit Smoking

Smoking tobacco is not just detrimental to your health; it can also increase your renters insurance rates. Consider that in 2014 alone, smoking caused 17,200 house fires in the U.S. Insurance companies know just how dangerous smoking can be and protect themselves by charging smokers higher insurance premiums. If you quit, you can improve your health and hopefully get lower renters insurance rates.

Improve Your Credit Rating

Your credit score affects you in more ways than you may think. If you have a less than stellar credit history, you may get charged higher renters insurance premiums. Insurance companies believe that people with low credit scores file more claims, so they charge them higher premiums.
Two simple ways to improve your credit score include making payments on time and making more than the minimum payment on all of your credit card bills.

Install Security Devices

No neighborhood is forever immune to break-ins. Even if you live in the safest neighborhood in the country, your apartment can still get burglarized. That is why it is important to protect your home with security devices, such as deadbolt door locks and window locks.
If your insurance company sees that you are making an effort to prevent burglaries, they may reduce your renters insurance rates.

Be Careful Where You Rent

The location of the apartment building you rent from impacts your renters insurance costs as well. If you rent an apartment in a neighborhood with a lot of crime, for example, insurance companies are more likely to charge you higher rates.
It is also important to consider the condition of the property you want to rent from. If you want to rent an apartment in an older building, it may have more electrical and plumbing issues, which could ultimately lead to you filing more claims.

Avoid Making Small Claims

Renters insurance is designed to cover your belongings in the event of an accident, but you should not file a claim any time something goes slightly wrong. If you make too many claims, your premiums will go up. If your claim does not exceed your deductible, you should not file it.
If the damage was your fault, you also shouldn’t automatically file a claim with your insurance company. For example, if you never bothered to fix a leaky pipe and it caused damage to your place, you may be found responsible for the incident and the insurance company may refuse your claim.
If the damage was serious enough and you’re seen to be too much of a liability, the insurance company may even choose to cancel your renters insurance policy altogether.

Ask About Discounts

Feel free to ask your insurance agent about discounts you may qualify for. For instance, if you are retired and stay at home more often, your home is at less of a risk for burglaries, fires and others disasters. Your insurance company may consider you a low risk and reduce your renters insurance premiums.
You do not have to pay a fortune for renters insurance. If you are willing to make a few changes, you can reduce your insurance premiums. Call Joyride Insurance to start your quote for a renters insurance policy today.