When you rent your home, insurance is essential to protect your property and household goods.  Comparison shopping for the best rates on renters insurance for your Philadelphia apartment will certainly save you some money, but you also can save by following these tips:

–  Choose a higher deductible—increasing your deductible by just a few hundred dollars can make a big difference in your insurance premium.

–  Ask your insurance agent about discounts. Dead bolts, smoke and carbon monoxide detectors, security systems, storm shutters and fire-retardant roofing material fare just some of the home safety features that can often lower your rate for insurance for your apartment in Philly.

–  You also may be able to get a lower premium if you are a long-term customer or if you bundle other coverage, such as auto insurance, with your provider. Some insurance companies also offer senior discounts for customers who are older than 55 years.

–  Don’t assume your landlord or property management carries insurance on your personal belongings. Purchase a separate renters’ policy to be sure your property—like furniture, electronics, clothing and other personal items—is covered.

A renters insurance policy can cover: personal possessions; personal liability; medical payments; and additional living expenses. Don’t wait until you have a loss to find out whether you have the right type and amount of insurance for your Philadelphia apartment. For example, many policies require you to pay extra for coverage for high-ticket items like computers, cameras, jewelry, art, antiques, musical instruments, and stamp and coin collections.

Furthermore, not all coverage will replace fully what is insured. “Replacement” coverage gives you the money to replace the contents of your Philly apartment.