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Renter's Insurance Adjustments

May 20th, 2016 at 06:12 am

Our rental insurance is due for renewal in two months. I had received the most recent policy and was reminded that we had Valuable Property Protection attached for jewelry up to $2500. It is $28 a month. The only jewelry of significance we have are our wedding rings. And those probably cost us less than $2K when we bought them twenty years ago. The truth is we have cash to replace these if we were to lose them. We don't need to be insuring them. So $28 saved.

Our renter's insurance was $443 last year. I didn't realize our deductible was only $250! It is scheduled to renew at $432, so it did go down. However I changed the deductible to $1000, the highest allowed. Our premium will be now be $404. Not a large savings, but little amounts add up.

Overall savings is $67 a year!

I expect we will get a little refund for making the changes before the policy actually expires. I will count those dollars as snowflakes!

4 Responses to “Renter's Insurance Adjustments”

  1. Kiki Says:

    Was the $28 per year or per month? More saved if $28/month.

  2. creditcardfree Says:

    Kiki...that is per year, as stated.

  3. VS_ozgirl Says:

    I also generally increase the excesses to save on the policy cost, especially when I think of how often we've had to make a claim (virtually never).

  4. FrugalTexan75 Says:

    Nice savings!

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