Is cheap renters insurance worth the risk? Share your experiences!

  • This topic has 11 replies, 12 voices, and was last updated 1 week ago by PM_ME_YOUR_RATIFICATIONS.
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  • #903
    thebrilliantsimplicity
    Participant

    Hey everyone, I’m trying to figure out renters insurance and keep seeing really low monthly rates, like under $15. While saving money is great, I’m worried about getting stuck with a company that won’t actually help if something goes wrong. If you’ve had a very cheap renters insurance policy, did it come through when you needed it? Or did you regret going for the lowest price? Share your experiences, especially if you had to file a claim!

    #904
    spooky_scenery
    Participant

    I went with Progressive because it was the cheapest quote I found at $12 a month for the basic coverage my apartment required. It covers my personal property up to a certain amount, and honestly, for that price, it gives me peace of mind for the essentials.

    #905
    vial_of_drums
    Participant

    I bundled my Progressive renters insurance with my car insurance and now I only pay $20 a month for $50,000 in coverage. Before bundling, each policy was more expensive, so the discount made a big difference for me.

    #906
    OmniscientDrilling
    Participant

    I initially chose Lemonade because it was only $9.59 a month for $20,000 personal property coverage with a $250 deductible. It was the lowest quote I got at the time, and the sign-up process on their app was super easy.

    #907
    loose_chemotherapy
    Participant

    I went with Lemonade because they were the cheapest I found, but when I had a fire and lost $36,000 worth of my belongings, they only offered me $4,000 and became impossible to contact. Now I’m fighting with them and wish I hadn’t just gone for the lowest premium.

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