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The average cost of renters insurance in Stafford, NY is $256 per year (for insurance coverage of $40,000 in personal property coverage, $300,000 in liability coverage and $1000 as deductible) — that’s $37 less than the state average of $293 a year.
It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you live in a rented apartment or home, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.
We did a thorough analysis of renters insurance companies to find the most affordable options for Stafford renters. Keep reading to find out the cheapest renters insurance companies in Stafford.
Key Takeaways
- Renters insurance in Stafford costs an average of $256 per year or $21 monthly.
- State Farm offers the cheapest renters in Stafford, with a monthly premium of $10.
- Renters can save more on insurance by taking advantage of discounts, including those for having a security system or bundling policies.
What is the average cost of renters insurance per month in Stafford?
On average, renters in Stafford pay $21 per month for renters insurance, which is $3 less than the state average of $24. The policy includes $40,000 in personal property, $100,000 in liability protection and a $1,000 deductible.
The cost of renters insurance in Stafford varies depending on your carrier and the coverage limit you select. Renters in Stafford typically pay $17 monthly for $20,000 in personal property coverage and a $1,000 deductible. If you decide to increase your coverage to $40,000, you’ll see an increase of $4 more in your monthly premium.
You’ll need to decide on the coverage that best fits your needs and budget. However, choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.
How much is renters insurance in Stafford by deductible?
The renters insurance cost in Stafford is $218 per year for a $500 deductible and $20,000 as personal property coverage.
A deductible is an amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $9 less every year for insurance.
Below are the renters insurance rates for different personal property coverage and deductible amount.
| Deductible | $20000 personal property | $40000 personal property | $60000 personal property |
|---|---|---|---|
| $500 | $218 | $271 | $328 |
| $1,000 | $209 | $256 | $310 |
Read our guide to know what does renters insurance cover.
Who offers cheap renters insurance in Stafford?
Your search for affordable renters insurance ends here.
State Farm has the lowest rates in Stafford, with an annual premium of $10 per month. Based on Insure.com data study, Travelers and NYCM Insurance also offer cheap rates.
After evaluating renters insurance quotes from all the national and regional insurance companies in Stafford, the experts at Insure.com put together a list of the most affordable insurance carriers.
Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in Stafford, NY.
| Renter insurance provider | Average annual rate | Average per month rate |
|---|---|---|
| State Farm | $125 | $10 |
| Travelers | $137 | $11 |
| NYCM Insurance | $155 | $13 |
| Allstate | $169 | $14 |
| American Family | $176 | $15 |
| Nationwide | $201 | $17 |
| Farmers | $263 | $22 |
| Chubb Ltd | $284 | $24 |
| AIG | $1,160 | $97 |
| USAA | $203 | $17 |
Tips for reducing the cost of renters insurance
Below are some tips to help you save on renters insurance in Stafford:
- Bundle policies: If you have other insurance, such as car insurance, bundling it with the same provider can often earn you a discount. Many insurers in Stafford offer savings for bundling policies.
- Increase your deductible: Choosing a higher deductible can lower your premium, but ensure you’re prepared to cover the higher out-of-pocket costs if you need to file a claim.
- Choose the right coverage amount: Regularly review your renters insurance to avoid paying for more coverage than you need. For example, you might opt for lower personal property coverage if you don’t own high-value items.
- Limit small claims: Filing multiple small claims can drive up your rates. If possible, consider paying for minor damages out of pocket to keep your premium low.
- Shop around for quotes: Don’t settle for the first offer. Compare renters insurance rates from multiple providers in Stafford to find the best coverage at the lowest price.
Final thoughts
Renters insurance in Stafford, NY, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.
Methodology
Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Stafford for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 deductible. The data presented are those with a good credit tier alignment.
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